BIS Chief Blasts Bitcoin’s Viability, Prompting Blowback From Advocates

[cr1776]

The chief banker at the bank for central banks, Agustín Carstens, cast doubt on bitcoin’s long-term viability Wednesday, saying it was only a matter of time before a 51% attack brings down the world’s original cryptocurrency.
...“Above all, investors must be cognizant that Bitcoin may well break down altogether. Scarcity and cryptography alone do not suffice to guarantee exchange,” he said.
...
“So, clearly, if digital money is to exist, the central bank must play a pivotal role, guaranteeing the stability of value, ensuring the elasticity of the aggregate supply of such money, and overseeing the overall security of the system,” he said.

  https://www.coindesk.com/agustin-carstens-bitcoin


Perhaps he should (a) be more cognizant about what he is putting into his mouth (it isn't healthy) and (b) what is coming out of it when he clearly doesn't know what he's talking about.   My suggestion would be that he read more prior to pontificating.

He clearly has a not-so hidden agenda.

[DooMAD]

“So, clearly, if digital money is to exist, the central bank must play a pivotal role, guaranteeing the stability of value, ensuring the elasticity of the aggregate supply of such money, and overseeing the overall security of the system,” he said.

 

Except that central bankers didn't oversee the overall security of the fiat system at all.  They oversaw the corruption, overt recklessness and utter mismanagement that led to an ongoing global financial crisis.  What reality is he living in?   

There's a small chance Bitcoin might not even exist if it weren't for the magnitude of their failure to keep commercial banks in check.  What other response, besides Bitcoin, could there be to the bankster's wild casino playground?

[hornetsnest]

They could shut it down from trading globally in the morning ...if they really wanted to

[Yogee]

The almighty banksters who think they have everything under control. He probably read an article from a crap news article called Cointelegraph and thinks he knows about 51% attack. He also said something about guaranteeing price stability? Inflation is happily waving at him.

The next statement we see from him is they're opening a bitcoin custodial service hehe.

[avikz]

The chief banker at the bank for central banks, Agustín Carstens, cast doubt on bitcoin’s long-term viability Wednesday, saying it was only a matter of time before a 51% attack brings down the world’s original cryptocurrency.
...“Above all, investors must be cognizant that Bitcoin may well break down altogether. Scarcity and cryptography alone do not suffice to guarantee exchange,” he said.
...
“So, clearly, if digital money is to exist, the central bank must play a pivotal role, guaranteeing the stability of value, ensuring the elasticity of the aggregate supply of such money, and overseeing the overall security of the system,” he said.

  https://www.coindesk.com/agustin-carstens-bitcoin


Perhaps he should (a) be more cognizant about what he is putting into his mouth (it isn't healthy) and (b) what is coming out of it when he clearly doesn't know what he's talking about.   My suggestion would be that he read more prior to pontificating.

He clearly has a not-so hidden agenda.

Is it surprising in any way?? I don't think so! Like you have rightly said that "he clearly has a not-so hidden agenda"! He is a representative of the "Bank of international settlement" whose main job is to be an intermediary! Now bitcoin has exactly removed an intermediary from the existing payment system so it's no surprise that he will blast about bitcoin. Pretty evident, ah!

Sadly he doesn't have a reputation like Warren Buffet, otherwise we would have another opportunity to buy at dip! lol!