Ben Bernanke, chairman of the Federal Reserve, told a Senate committee on virtual currencies that the idea “may hold long-term promise”.
I keep reading this misleading quote again and again, it's getting me mad! xD
Bernanke
didn't say that he thinks that Bitcoin nor other virtual currencies “may hold long-term promise”, he was quoting someone who said that and many other things back in 1995.
Fucking stupid press, why don't they read the original source instead of coping headlines from other newspapers
Also I'm pretty sure he knows about the assassination market very well... I really doubt he had any kind of appreciation on Bitcoin.
You're such a clown. Go buy back at a loss already. I have nothing against bears, but you're so obviously driven by an agenda (probably because you'd prefer *not* to buy back at a loss, but at the price at which you foolishly sold), it's not even funny anymore...
Here's the paragraph from the letter in question:
For example, in 1995, the U.S. House of Representatives held hearings on “the future of money” at which early versions of virtual currencies and other innovations were discussed. Vice Chairman Alan Blinder’s testimony at that time made the key point that while these types of innovations may pose risks related to law enforcement and supervisory matters, there are also areas in which they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.
You get that this is Bernanke's letter reply to the question: "Yo Berni baby, what do you think of this Bitcoin thing?" So anything he writes in there, whether it's a quote or not, is probably carefully chosen, not just some random collection of words. So this line, about innovations and long-term promise, is one of the few statements that are not completely noncommittal (like the part about how the Fed can't regulate shit because btc isn't issued by a bank). He's quoting somebody else, sure, but the key word here is 'key point'. This is, in the clandestine way of phrasing shit that politicians, diplomats and CEOs like to employ, *exactly* what the press has called it: a cautious endorsement by Bernanke (emphasis on cautious), followed by a big honking "and it's not my business anyway".
