[2018-06-18] CNN: Bitcoin could 'bring the internet to a halt

[BokkaExchange]

Bitcoin could 'bring the internet to a halt,' banking group warns

Don't bet on bitcoin ever replacing the dollar or other traditional currencies as everyday money.

That's one of the messages from a new report by an organization that represents dozens of the world's central banks.

The group, Switzerland-based Bank for International Settlements (BIS), said the "intense interest" in bitcoin and other cryptocurrencies had prompted it to look "beyond the hype" at what use they could actually contribute to the economy.

The report's authors were unimpressed, detailing a range of problems with trying to adopt cryptocurrencies as a widely used form of money.

They include the danger that just processing all the payments "could bring the internet to a halt," said the report, which was published Sunday.

Read more: http://money.cnn.com/2018/06/18/technology/bitcoin-cryptocurrencies-internet-bis/index.html

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[Kakmakr]

Bitcoin could 'bring the internet to a halt,' banking group warns

Don't bet on bitcoin ever replacing the dollar or other traditional currencies as everyday money.

That's one of the messages from a new report by an organization that represents dozens of the world's central banks.

The group, Switzerland-based Bank for International Settlements (BIS), said the "intense interest" in bitcoin and other cryptocurrencies had prompted it to look "beyond the hype" at what use they could actually contribute to the economy.

The report's authors were unimpressed, detailing a range of problems with trying to adopt cryptocurrencies as a widely used form of money.

They include the danger that just processing all the payments "could bring the internet to a halt," said the report, which was published Sunday.

Read more: http://money.cnn.com/2018/06/18/technology/bitcoin-cryptocurrencies-internet-bis/index.html

Did we expect any other response from a institution that are hanging on their fingertips to survive? Bitcoin has disrupted all these international settlement institutions and now they are lashing out against Bitcoin in an attempt to stop it.

They have obviously not heard about the Lightning Network and off-chain transactions. Before these idiots make clueless statements like this, they have to do some homework first. )o(

[XFlowZion]

Very ridiculous. The accurate report should be - CNN: Bitcoin could 'bring the banks to a halt". That would have been more realistic. CNN must be getting out of new ideas and just focus on pleasing the 'fiat people' to get paid.

[jjacob]

I am surprised that a reputed, mainstream media house is publishing articles like these. The least they could have done is change the title. We know that organisations connected to banks and financial institutions routinely come up with ‘research’ like this.