[2019-05-18] Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash

[tyz]

Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash

Andrew G Haldane, the chief economist of the Bank of England, said bitcoin is on its way to replace cash, according to an eyewitness’s account. The 51-year academic made the statement when he was interacting with an audience of students.

https://www.newsbtc.com/2019/05/18/bank-of-englands-chief-economist-thinks-bitcoin-could-replace-cash/

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[rodel caling]

Sounds goods and thanks for this update news information this can for those people worrying again this time of bitcoin correction.
This news hopes people's around the world of crypto community goes stay focus at positve future of bitcoin will still stroger among us.

[vit05]

There is a certain difference between believing that Bitcoin could be a substitute for the fiat in a few years' time, and believe that it can be a suitable investment today. Bitcoin is obviously a major technological breakthrough compared to fiat and the traditional ways of accounting for money. But investment involves several other issues and should always be compared to traditional investments, which offer much more legal security and stability.

[Kemarit]

A crypto media outlet citing reddit as their source?, LOL. I wouldn't take this seriously, I don't know why he was invited in that university but I'm assuming the discussion was about economics and related stuff. And as per article:

“Mr. Haldane said it [bitcoin] could replace cash, he even joked about us likely having Bitcoin in our wallets,” the witness shared on Reddit. “He said he didn’t think it’d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.”

So that's the keyword there, obviously he wanted to have a lively discussions and perhaps he just quip that statement to please the crowd, so I will take everything with a grain of salt here.

[davis196]

Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash

Andrew G Haldane, the chief economist of the Bank of England, said bitcoin is on its way to replace cash, according to an eyewitness’s account. The 51-year academic made the statement when he was interacting with an audience of students.

https://www.newsbtc.com/2019/05/18/bank-of-englands-chief-economist-thinks-bitcoin-could-replace-cash/

He was probably drunk.
No central bank clerk is allowed to say that bitcoin will ever replace fiat money.
Bitcoin cold possibly replace cash after a few decades,so I don't see any point in the "could btc replace cash" discussion.

[CryptoBry]

A crypto media outlet citing reddit as their source?, LOL. I wouldn't take this seriously, I don't know why he was invited in that university but I'm assuming the discussion was about economics and related stuff. And as per article:

“Mr. Haldane said it [bitcoin] could replace cash, he even joked about us likely having Bitcoin in our wallets,” the witness shared on Reddit. “He said he didn’t think it’d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.”

So that's the keyword there, obviously he wanted to have a lively discussions and perhaps he just quip that statement to please the crowd, so I will take everything with a grain of salt here.

As a relatively young economist, maybe he is really open to the idea of cryptocurrency but he knows where he speak and the global realities that we are in that is why he predicted that maybe it can happen 20 or 30 years down the road. And given the fact that many governments are not yet that open on this platform which would surely affect their control of the economy, 30 years may not even be enough for bitcoin to gain a broad acceptance. What is important here is that right now, there are now an increasing number of prominent people and leaders of different industries who are more inclined to believe on bitcoin and cryptocurrency...this is important in the shift of the paradigm. Just like terraforming Mars, it can take decades before seeing the silver lining on the sky.