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Author Topic: [2018-08-03] Duch Central Bank: We Don’t Consider Cryptocurrency To Be Money  (Read 20 times)
BitcoinArsenal
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August 03, 2018, 08:20:11 PM
 #1

The central bank of the Netherlands has issued new comments on cryptocurrency this week, continuing a popular narrative from the banking sector that it is “not money.”
Full article on Bitcoinist

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August 03, 2018, 09:30:28 PM
 #2

“Bitcoin is still too unstable and limited to become a viable means of payment or a mainstream asset class,” UBS strategist Joni Teves wrote Thursday quoted by CNBC.

Sure, it can't become mainstream be a mainstream payment because Bitcoin itself is far from being mainstream. It's like saying that a puppy can't protect you. Sure, we all know that, but it's still growing. The important thing is that it has the capability.

“Owing to its lack of price stability, bitcoin falls short of criteria that need to be satisfied to be considered money.”
Just wait until it has at least half of the current fiat users start to use BTC. It will become stable. Fiat money in the US was created almost 50 years ago and it's actually becoming more unstable than it was back then.

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August 04, 2018, 12:49:43 PM
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As long as there are still merchants and retailers who do consider it to be money, does anyone really care if a central bank thinks it isn't?  I don't need to do business with a central bank, so (as long as they aren't coming up with any daft legislation about it) it has absolutely no relevance whatsoever how they view Bitcoin.


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