Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Recently, the governor of the Bank of England released a statement about Bitcoin. In his statement, he said that Bitcoin can’t be a real currency because it does not meet all the necessary requirements. Meanwhile, elsewhere in the world, thousands of people are ready to debate his outrageous claim.
During an appearance at Regent University in London, Mark Carney, the Governor of the Bank of England, expressed his opinions on Bitcoin and compared it to fiat currencies. He focused on two major criteria that a currency must possess, and cryptocurrency didn’t quite make the cut. The first criterion is that it must function as a way to facilitate commercial trade and the second is that it must be reliable enough for people to invest their money in it.
According to Carney, it’s nearly impossible for Bitcoin to meet these two basic requirements because Bitcoin’s ridiculously high demand has made it completely useless as a means of trade. Moreover, Bitcoin transactions take far too long to validate, and the costs are also too high.
As for investing in Bitcoin, it remains a highly speculative and risky form of investment due to concerns about regulating and prohibiting the trade of cryptocurrency. In addition to all this, the price of Bitcoin has been in steady decline since December 2017 and it will probably be awhile before we see its price start to stabilize
Bitcoin is the most prominent of all forms of cryptocurrency and most experts use it to speak about cryptocurrency in broader terms. As for economist Mark Carney, he has made his pessimism clear about the future Bitcoin and has equally denounced other cryptocurrencies as a “deception in terms of the traditional aspects of money.”
Still, not all of Carney’s ideas check out. He says, “No one uses cryptocurrency as a means of exchange.”, but elsewhere, in India for example, digital currency seems to be catching on for purchasing goods and services notably due to its anonymity.
Moreover, other institutions, such as the Internal Revenue Service (IRS) in the USA, are confident in the future of digital currency on the economic landscape. The IRS believes that cryptocurrency’s digital values are completely functional as a means of exchange, as well as a form of investment.
The Governor of the Bank of England doesn’t see a bright future for cryptocurrencies, however, he is very confident in its underlying technology: the Blockchain. He mostly appreciates the fact that the technology is not directly controlled by any one group of people and offers a safe and secure circulation of information.
Carney believes that Blockchain technology can ensure the reliability of financial transactions in the future. However, it is difficult to envision Blockchain technology playing a major role in the economy without cryptocurrency being involved as well.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
Trending
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Breaking News: FTX Recovery Trust Set to Redistribute a Staggering $5 Billion to Creditors This May
9 hours ago | Kim Sorgson
Is June the Dawn of Altcoin Dominance? Bitcoin's $2T Market Cap in the Balance
18 hours ago | Nill PAUL
Banks Dive into Stablecoin Waters: A Strategic Move to Combat Crypto's Rise
19 hours ago | David Paterson
Shake-Up at the CFTC: A Looming Leadership Void Could Reshape Crypto Regulation
20 hours ago | Dan Mitchell
Tezos (XTZ) Review 2024: Everything You Need to Know Before Buying Tezos
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; backgrou...
Chromia (CHR) Review 2024: Everything You Need to Know Before Buying Chromia
Illuvium (ILV) Review 2024: Everything You Need to Know Before Buying Illuvium
My Neighbor Alice (ALICE) Review 2024: Everything You Need to Know Before Buying My Neighbor Alice
Star Atlas (ATLAS) Review 2024: Everything You Need to Know Before Buying Star Atlas
OQtima
Oqtima is an emerging online trading platform that offers a wide range of financial instruments, inc...
Saxo
Saxo Bank is a leading global online broker offering a wide range of financial instruments, includin...
FXCC
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; background-c...
Quadcode Markets
Quadcode Markets is an online brokerage offering a wide range of financial instruments, including fo...
Trading 212
Trading 212 is a popular online broker offering a range of financial products including stocks, ETFs...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
The Bank of England Discredits Bitcoin as a Currency
Recently, the governor of the Bank of England released a statement about Bitcoin. In his...
XRP Price Prediction and Trends: What’s Next for XRP in the Market?
.article-container...
Crypto Market Forecast 2025: Clear Price Targets for BTC, ETH, XRP & SOL
.article-container...
Dogecoin: Will 2025 Be the Year It Finally Reaches $1?
.article-container...
Optimism Crypto Coin Price Prediction for 2025: A Comprehensive Analysis
.article-container...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)