Agustin Carstens is more aggressive in rejecting crypto than Warren Buffet

[plvbob0070]

He's the Head of bank and as what we can see, crypto is somehow giving that 'threat' to the bank. And as a person who works at bank, its inevitable for them to disagree with crypto and they will really try their best to say negative things and brainwash other peoples mind, for them not to believe in crypto.

[TravelMug]

he is the head of the Bank of International Settlements (BIS), he said that crypto is a bubble and a Ponzi scheme that can create environmental damage. he also said that crypto does not have a positive potential to be a currency.

What do you expect? He is banker. Obviously, he will attack crypto every time he has give the. chance to open his mouth during interviews.

he also told and influence to the youth to stop creating money. he also said that the Bank provides electronic payment instruments for the future instead of crypto.
please share your opinion on this topic here!

Youths of today (millennials), are very opinionated, and wouldn't just listen to someone. So there's nothing to be afraid it, the more they attack crypto, the more they look like they are desperate because they know that crypto will take over in the next 5-10 years.

[Kakmakr]

Agustin Carstens should not be afraid of Bitcoin, but rather the coins being developed by the R3 Consortium of Banks. Mike Hearn and his team has been working on Corda for some time now and they are targeting the settlement market.

His anger and fear is targeted at the wrong technology, because BIS will be disrupted by Banks and not by Bitcoin. Just shows you how misinformed these people are. The enemy of our enemy is our friend. 

[Malsetid]

he is the head of the Bank of International Settlements (BIS), he said that crypto is a bubble and a Ponzi scheme that can create environmental damage. he also said that crypto does not have a positive potential to be a currency.
he also told and influence to the youth to stop creating money. he also said that the Bank provides electronic payment instruments for the future instead of crypto.
please share your opinion on this topic here!

Lol. A banker. Of course he'll say those things about btc, i'm not expecting anything less. He's the same with warren buffet and they're just doing what they think is beneficial to their industry. People are saying that bitcoin will make banks obsolete in time and though i don't think they take that seriously, they're making precations by trying to bring btc down.

[okala]

Agustin is right in his own way because the bank have through created digital platforms on they banking system but the question how effective and how high is the fees charge per transaction and compares it with cryptocurrency fees also. And the speed of transactions what about the Tran's border access.

[Mpamaegbu]

Carstens is just an individual and I don't think the opinion of a single individual really matters in this industry. Otherwise the ilks of McAfee would've brought Bitcoin on its knees a long time ago. Not even China with its ban could do that. For all I care, let him FUD. It doesn't really matter. Bitcoin will definitely get its push up once again.

[hugeblack]

I thought such statements were over once the price had risen to $ 20,000 and maintained the rise for more than 9 years. One of the longest bubbles in the world.
Also, whenever there is a discussion where you can not find a problem, you accuse it of environmental damage. "Although many banks are financing environmental companies seriously."


Banks can provide more payment tools than Bitcoin, but they will not be global, faster and less fee. The challenge now is price volatility, not technology.

[maydna]

I think he is one of the people who doesn't open-minded for a new change. He is a banker, he is head of the BIS, he should learn many things related to financial including technology financial. He should aware that the world is now changing from the traditional era into the digital era which will affect the traditional financial.

He can say whatever he wants to says but as the head of one bank, he needs to be wise to give a statement and investigate first before he says. That is what happens now, many people can say anything about crypto but the crypto will survive.

By the way, this is the news of Agustin Carstens:

1. Agustin Carstens Warns Against Central Banks Issuing Virtual Currencies
2. Banks Should Not Issue Digital Currencies

[Lucius]

~snip~

If you ask me he is represents a small majority of extremely rich people who want to become even richer, and all this at the expense of small ordinary people. Whatever he or someone like him says negative in terms of cryptocurrency, this should be seen as a common misunderstanding or defense of old values. Imagine how much he is intelligent when he say "bitcoin is an environmental disaster", based on what fact?

It would be better for him to start a healthy life, otherwise it will not survive more then 10 years. I would say he is bigger environmental disaster for this planet then bitcoin, based on fact how much resource he is using, and how much waste it produces.

https://en.wikipedia.org/wiki/Agust%C3%ADn_Carstens

[magneto]

he is the head of the Bank of International Settlements (BIS), he said that crypto is a bubble and a Ponzi scheme that can create environmental damage. he also said that crypto does not have a positive potential to be a currency.
he also told and influence to the youth to stop creating money. he also said that the Bank provides electronic payment instruments for the future instead of crypto.
please share your opinion on this topic here!

First of all, Warren Buffet doesn't necessarily reject crypto. I think that his main point is that bitcoin is not an investment, because it doesn't generate returns on equity like what businesses do, and have an actual operating business model. He has said the same thing regarding gold as an investment.

What Carsten has said though is somewhat different. Apart from the bubble accusation, which would be true if applied to a 2017 context, what he's saying is purely stuff that has been debunked over and over again, yet people still seem to be pushing. The environmental and ponzi accusations have been repeated over and over already.

Also, I think it's interesting that he essentially admits bitcoin has the transaction processing capability, whilst denying that there is any value to a system that can do this in a decentralised way. Of course though, it is important to see the reason why he may have made these comments - there is an obvious conflict of interest in terms of what the BIS is doing, and what settlements on decentralised blockchains like bitcoin can do.

[jseverson]

When did he say stuff about Bitcoin being a bubble and being bad for the environment? His most recent statements were only warning banks from issuing their own "crypto" because it could reduce the demand for cash.

He is in a position of power, so it's possible he could influence crypto in a much more direct way unlike run-of-the-mill rich people like Warren Buffet, but these recent statements shouldn't be a problem for crypto at all. It might actually be better for the community if banks followed his warning.

[CryptoBry]

he is the head of the Bank of International Settlements (BIS), he said that crypto is a bubble and a Ponzi scheme that can create environmental damage. he also said that crypto does not have a positive potential to be a currency.
he also told and influence to the youth to stop creating money. he also said that the Bank provides electronic payment instruments for the future instead of crypto.
please share your opinion on this topic here!

This is my first time to ever heard of the name of this man and I think that with his position and stand against Bitcoin then soon he can be creating a name for himself outside of the world he is playing with. I am not anymore surprised why there will always be people in the world of finance who can be strongly against Bitcoin because in the first these people do not possess the full understanding of cryptocurrency and secondly these people will be trying to use their influence and clout to make sure of the status quo. However, we know that eventually cryptocurrency and the blockchain are two unstoppable trains...there might be some challenges and there is a possibility of big delays but things will later on be good for cryptocurrency in general. Let the man speak whatever he wanted to speak...maybe he also have some points actually.

[awawo]

They have always being saying it that bitcoin and other cryptocurrencies are scam and ponzi scheme simply because they can not control it, the bank will for ever be against decentralization because the bank will never be able to print bitcoin and other cryptocurrency because it runs on the blockchain.

[franky1]

hey people
you lot do realise that agustin said about the bubble A YEAR AGO
right when there was a bubble spike in bitcoin

in short. old news. boring, outdated

[muratsink]

I don't know if he's giving those statements because of ignorance or just mere smear campaign towards the usage of crypto. If he truly understands the concept of cryptocurrencies, given the fact that he's an educated individual, then I would say he would not be saying things like that. And to be honest, even if they continue to reject the idea of crypto, still mass adoption continues and the integration of blockchain technology, company after company will happen.

some educated people sometimes always has different perceptions of crypto, he is a very influential person for the banking world, and I think he is worried that the bank will be replaced by a blockchain, he compares banks and crypto, he says the bank will also provide electronic payment instruments.

he also advised the government that the government must increase protection for investors and consumers.

[muratsink]

hey people
you lot do realise that agustin said about the bubble A YEAR AGO
right when there was a bubble spike in bitcoin

in short. old news. boring, outdated

no problem, for me this is important information, today, I already know the list of some people who created FUD for the crypto world. and in my country, I often socialize to spread the crypto world to the public, and I can convey to the public about this information.