According to the the Bank of England Governor, Mark Carney, people who invest in Bitcoins are fools.
He likens the Bitcoin craze to the 17th century Dutch tulip mania, the dot com bubble of the early 2000's among others.
He then contends that the Bitcoin phenomenon is actually a bubble that will burst very soon.
He also trots out the tired argument about illicit income, criminal proceeds, and terrorist funding can be hidden in the blockchain.
And then, after rubbishing Bitcoin, Mark Carney does agree that cryptocurrencies have the technology to disrupt the financial system.
He must be worried that cryptocurrencies also have the potential to totally disrupt the corrupt banking system that has for centuries been an active participant in hiding illicit monies, funding wars, and keeping identities of corrupt and criminal people hidden.
In case you haven't noticed, I do get pissed off at banks who have ruled the world's financial systems for way too long, a banking system that almost reduced the whole planet to its financial knees, and a host of rich bankers who faced no criminal charges, no prison time, and no individual ever held accountable. The only country that believed that bankers who corrupted the system for their own benefit should face justice was Iceland. They sent a few of the bastards to jail.
But the rest of the world? Not one, nobody!
So when bankers mouth off about a financial rival that can be used for illegal purposes they should look in the mirror.
Now that I've got that off my chest, here's the article in question, you can make up your own mind ... http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12005809
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