2018-03-03 Barrons.com - Sheila Bair Sees the Seeds of Another Financial Crisis

[cr1776]

Sheila Bair, former FDIC chief...the last question:

Q: We also didn’t have bitcoin 20 years ago. Some central bankers are concerned about the mania around cryptocurrencies. What is your view?

A: Don’t put any money into bitcoin that you can’t afford to lose. But I don’t think we should ban it—the green bills in your pocket don’t have an intrinsic value, either. The value is based on what others think is its value. That’s true of any currency. Regulation should be focused on good disclosure, education, warding off fraud, and making sure it is not used for illicit activities. Let the market figure out what it’s worth. That is what it is doing now.

Paywall:
https://www.barrons.com/articles/sheila-bair-sees-the-seeds-of-another-financial-crisis-1519916556

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[richardsNY]

It's nice to actually see someone speak out in a fair and understandable manner. I personally don't like how she (and basically anyone else) is talking about how one should only put money in Bitcoin that he/she can afford to lose. That's something you say to people that are about to gamble in a casino for example. What I do like and firmly agree with, is the fact that she (as being one of the very few) admits that paper money doesn't have intrinsic value, which is a refreshing change for once. Quite often you see banksters and government officials talk down on Bitcoin because it doesn't have intrinsic value according to them, while they completely ignore the fact that their paper money isn't any different in that aspect. Top level hypocrisy!

[Sword555]

Okay if i dont invest in crypto now , where to invest now ? Nothing give me so much profit like crypto now , when stupid money comes here its very nice to trade and make profit from noobs who buy bitcoin at 20k and alts at top prices I like it without this noobs we willnot get any money and profit So i like crypto .