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Regarding the News while drinking my tea [Bitcoin poses risks] :o
Widespread use of digital currencies like the bit coin could eventually pose risks to financial stability, the bank of england warned today.
Research from the bank suggested only 20,000 people in the UK hold bitcoins and that is used in as few as 300 transactions a day.
The bank believes rising transaction fees and the bitcoin's finite supply provide barriers to widespread adoption of the digital currency, first created in 2008. It is estimated there is less than 60 million pounds worth of bitcoins circulating within the UK economy, representing less than 0.1 % sterling notes and coins.
But the much-hyped bitcoin has seen huge fluctuations in price during its short life, reaching a peal of $1242. The bank said ''the total stock of the digital currencies is at present too small to pose a threat to financial stability but further increases cannot be ruled out and it is conceivable in the time that there could be an asset price crash among free-floating digital currencies that had the potential to affect finical stability.
So i guess we shouldn't use bit coin unless we don't care about our economy urm your thoughts?
Comments
Hahahahahahahahahahahaha
BULLSHIT.
Well i'm not really sure but it does make sense. 300 transactions per day eh nobody cares. When it starts getting up to paypal's standards per day i think it might hurt the economy their prices of bitcoin do fluctuate a lot though. [In the UK]
Lol. This is soo bullshit. They have brainfarts...
What even.
They won't when everyone uses them. At this time we wont base Bitcoin's value off other currencies. Rather than seeing 1 dollar we will see 1 mBTC.
That only American view, not meant everyone accept that.
Meh its a long way to go anyways maybe another 10-15 years.
But honestly BTC not a anonym as advertised, for payout always need provide ID where some guys check who are you..