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Author Topic: [2017-12-02] The Governor of the Bank of France warns investors on Bitcoin  (Read 1729 times)
aalfadhala
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December 02, 2017, 04:52:29 PM
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The Governor of the Bank of France, Francois Villeroy de Galhau has warned potential investors that Bitcoin is volatile and risky.

“We need to be clear: bitcoin is in no way a currency, or even a cryptocurrency”, said Villeroy de Galhau at a conference in Beijing. At the time of the remark, Bitcoin’s surge past $11,000 had been dramatically halted with an enormous drop to nearly as low as $9,000.

Source: https://coinblip.com/blog/bank-france-warns-speculative-nature-bitcoin/

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December 02, 2017, 05:53:06 PM
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Nothing new, he said. It is known to all. Even if we assume that bitcoin will be the bubble I will not refuse from its use. It is foolish not to capitalize on it. A lot of people for several years, using the advantages of bitcoin. For me and for them bitcoin is not a bubble. He gave us the opportunity to live a full life.
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December 02, 2017, 06:48:13 PM
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It's something that has been echoed by banks for years now, and people don't seem to care anymore. People realize that the heavy fluctuations that they have constantly been warned about, have no impact on the long term price. Volatility matters to those who want to ride this market's wide ups and downs, and doesn't bother those who plan to hold their coins for the long term. Still today if I watch a financial related channel, self claimed industry experts and analysts say that Bitcoin doesn't serve a purpose, don't know why it's booming, and think that it can become worthless overnight. Roll Eyes
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December 02, 2017, 06:55:24 PM
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Well, its just a fair warning from another nation. But the more they open their mouth against bitcoin, the more people bought it and just ignore their warning. LOL. We understand their point, but sorry to tell that they are wrong. "bitcoin is in no way a currency, or even a cryptocurrency”, I got confused on what he is saying here. Bitcoin is not a cryptocurrency? Then what it is? I guess they have their own opinion on bitcoin, but please do us a favor and don't say a word specially if you don't know anything about it because they looks stupid. Let's see when bitcoin tops $20,000. They will be left out if they think that bitcoin is still doesn't have a purpose and not money.  Grin

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December 02, 2017, 09:50:30 PM
 #5

Mr Governor should learn the meaning before he decides to open his mouth or he'll just look stupid in front of millions of people.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Bitcoin is by all means a cryptocurrency as it fits the description perfectly. Saying that it is not requires some explanation. Every moron can scream this or that without sense, but I'd expect something more from an educated person with years of experience.
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