[2017-10-27] Lebanon's Central Bank Governor Disses Bitcoin at Digital Currency

[tyz]

Lebanon's Central Bank Governor Disses Bitcoin at Digital Currency Launch

The bank that prints the money used today in Lebanon plans to launch its own digital currency.

Announced Thursday by Riad Salameh, the governor of the Banque du Liban, Lebanon's central bank, it's not yet clear if the project will be based on blockchain technology, though the idea appears to have been addressed in conversation.

According to local news source The Daily Star, Salameh used the opportunity to underscore why cryptocurrencies, which utilize blockchain, were ineffective in serving as national currencies. The comments were made at the 7th Corporate Social Responsibility Lebanon Forum, as part of the conference's opening ceremony.

https://www.coindesk.com/banque-du-liban-digital-currency/

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[richardsNY]

It's just the same as with all central banksters, Bitcoin isn't capable, has no actual purpose, etc. In other words, a perfect example of how a frightened bankster behaves. This year seems to be the year the market has been shaken up massively, in terms of whatever bank expressing how it feels about Bitcoin. It's obvious that due to the immense growth we have gone through this year, banks more than ever feel that Bitcoin is slowly but surely catching up due to the increasing adoption. I can't even imagine how things will be after 5-10 years -- banks will never be in total danger, but it's enough to significantly cut through their world wide dominance.

[Kemarit]

It's just the same as with all central banksters, Bitcoin isn't capable, has no actual purpose, etc. In other words, a perfect example of how a frightened bankster behaves. This year seems to be the year the market has been shaken up massively, in terms of whatever bank expressing how it feels about Bitcoin. It's obvious that due to the immense growth we have gone through this year, banks more than ever feel that Bitcoin is slowly but surely catching up due to the increasing adoption. I can't even imagine how things will be after 5-10 years -- banks will never be in total danger, but it's enough to significantly cut through their world wide dominance.

Yup, this year alone who have seen a lot of "rude awakening" from countries and bankers are alike. I guess with 500% increase so far, there no way that bitcoin is out of the radar for most bankers and they are threaten and shaken by this upcoming bitcoin, who may we compare to a tsunami.

Also not get getting the adoption that we are hoping for. It has slowly gaining a lot of traction from all over the world. Maybe they can wage their war against bitcoin. But down 5 years from now, they will have to give up this fight because bitcoin is really going places and cannot be stop.

[Lucius]

We have a similar stand from countries that want their digital currency,they all want to discredit BTC first just because they have no instrument to control it.For them is better to made their own digital currency over which they will have complete control.I do not see any difference in that from fiat,only money will be digital but in full control of government.BTC is something quite different and no national digital currency can not replace it.

Different countries will obviously go on different paths as regards BTC and other digital currency,depending on development and adaptation of BTC in future,some of them could change their minds.