Agustin Carstens is more aggressive in rejecting crypto than Warren Buffet

[muratsink]

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!

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[AB de Royse777]

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!

Let him say the BSs. Who know and understand crypto they do not care about what they said.

It's obvious that crypto rise will harm the traditional banking system. If traditional banking system does not exists then governments will have less power. So banks combined with government will always try to stop Bitcoin and other crypto currencies.

[alisafidel58]

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!

Seems like Agustin Carstens is afraid of such competition that has threaten banks a lot. As the head of a bank, he needs to put a stand within his organization. No matter what he says people need the option and has their own free will to choose what they like to use.

[cryptomaster420]

You should also ask taxi drivers what they think of Uber and Autonomous cars, you'll get a similar response.
Just because this dude wears a suit and cabbies don't doesn't make his opinion less biased and untrue.
In fact we should celebrate the fact that he's taking his time in spewing this crap, it shows he's afraid.

[BrewMaster]

most banks so far have been this "aggressive" towards bitcoin. have you forgotten JP Morgan in 2017 where they kept bashing bitcoin and were calling it "fraud" whilst buying bitcoin in each dip?

that has been the story of bitcoin for the past 8-9 years (basically ever since it gained value people were FUDing it). the banks specifically are so scared of bitcoin because they have always feared that bitcoin is going to make them obsolete one day. and that day is approaching fast.

[Upgrade00]

Can you share a link were he said that. I find it hard to believe the head of the bank of international settlements, would call bitcoin a 'bubble', when's bubble is a period and not the commodity itself, or how he would classify it as a ponzi scheme. This are very asinine arguments against bitcoin, and should not be coming from financially astute individuals. Except it is just a witch Hunt.

[pat4cryptoreal]

For influential individual like the head of the Bank of International Settlements to sit down and discuss about cryptocurrency it means cryptocurrency is making impact in the world financial system. it does not matter if He is making negative comment, His comment will indirectly draw  the  attention of so many to cryptocurrency.

[betty11]

He is a banker, modern bank is a fraud and they are fighting to keep their corrupt empire. They don't want youth to print their own money, but they are printing legalized counterfeit. These economic cartels know the truth but they are scared to face reality. Time shall tell.

[squatter]

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.

Maybe they should stop inflating the crap out of our fiat currencies.

When you contrast your quickly devaluing dollars to cryptocurrencies with predictably low or zero inflation, it's hard to take his arguments seriously. We can't trust banks to secure our money and we can't trust governments not to devalue it. These are vitally important use cases in a world where people trust banks less and less everyday.

[kryptqnick]

We should not care about what he says. This guy is just a general manager on the Swiss bank. Two things are important here: 1. Carstens expresses his personal opinion, it's not an official statement from the bank. And general manager is not the most important job in the bank. 2. Even if the bank opposed it, Swiss is a country with substantial independance of the cantons. And the canton of Zug is pro-crypto enough not to take about other regions. And besides, it's not up to banks to form official policies regarding cryptocurrencies.

Can you share a link were he said that. I find it hard to believe the head of the bank of international settlements, would call bitcoin a 'bubble', when's bubble is a period and not the commodity itself, or how he would classify it as a ponzi scheme. This are very asinine arguments against bitcoin, and should not be coming from financially astute individuals. Except it is just a witch Hunt.

There's an article on CCN that is referring to a speech by this guy: https://www.ccn.com/agustin-carstens-banks-should-not-issue-digital-currencies. What the op wrote is present in the article, so Carstens probably said it.

[coolcoinz]

Is being more aggressive towards something a viable trait? Does it distinguish him from the crowd of bear naysayers in any way?
He's repeating the same points other people are, and being more vocal about it doesn't change the fact that he doesn't bring anything new to the discussion.
I guess now every head of a bank (which we have thousands around the world) is going to become more and more aggressive to get publicity. What a sad world we're living in.

[tunapa]

I see they are really trying their best to talk down bitcoin and cryptocurrency. It’s obvious the banks are afraid of what might happen to them if bitcoin continues to go in this trend of growth such that very soon they won’t be able to handle it any longer. New innovations should be allowed and supported instead of goin againts it. This alone tells a lot about the banks and government on what they are up to.

[pooya87]

he is the head of the Bank of International Settlements (BIS), ~~
please share your opinion on this topic here!

isn't the bold part enough to show what everyone's opinion about this is?!

maybe each time one of  these banksters tries spreading nonsense about bitcoin someone should remind them about what they did to the world's economy multiple times, specifically in 2008 which then led to creation of bitcoin so that people have an alternative way that they can not control and corrupt.

[johnduckett]

The truth is that many people fear cryptocurrencies because they are simply losing control and people are leaning towards the new blockchain technology because it is more secure, efficient and empowers people, no matter how much resistance there is, to the At the end of the war the cryptocurrencies will win because they perfectly fit the needs of the market.

[Indrawan77]

Well I think this is the way of cebtral bank to try to sabotage crypto and its a normal thing for me, central bank is afraid of crypto, so they spread rumours and everything to stop bitcoin adoption and development, if bitcoin is a ponzi then no investors will want to buy and hold, the truth is bitcoin had already help so many people financially and make a lot of people rich, it is hard to explain bitcoin to someone who doesn't want to open their mind, just let it be, one day the person will realise how great and useful is bitcoin

[Bitinity]

It is not a new news, he is one of some other people in this world who tries to fight against the existence of crypto. His saying does not give affect the popularity of bitcoin or crypto in general. So lets just ignore this kind of FUD, no need to share it too much.

[Zadicar]

Let him say all the BS he wants to as if people really do care about of him talking nonsense. If he really wants to prove something then he must have to show it not to say it and spreading nonsensical point of view just because he doesn't like it.

[r1s2g3]

I will like to read his views on 2008 global recession and failure of the Lehman's brother. Whole banking was ponzi that's why they all need the bailout packages in past.
Bank should work on adoption of new technology and should not comment on the topics in which they are not qualified.

[Red-Apple]

i think it is about time that we as a decentralized community start a campaign about banks letting people in the world know how corrupted they are, and more importantly how they have been damaging the country's currency by inflating it beyond reasonable levels.

[Twinkledoe]

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.