bitcoin central banks

Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies

If the crypto crowd wasn't already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing's ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he's calling a "fraud" that's destined to "blow up," they can now add the B.I.S. to their list of adversaries.

Commence the tomato throwing! If the crypto crowd wasn't already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing's ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he's calling a "fraud" that's destined to "blow up," they can now add the B.I.S. to their list of adversaries (of course if you are a Bitcoin fan and you didn't already know that the B.I.S. is your arch nemesis, then you don't know much about your enemy). "After the price of bitcoin reached a record high, China moved to reign in the exuberance, announcing September 4 that it was outlawing initial coin offerings [and] while the motivations behind the move and the trading restrictions are unclear, such a ban could affect an estimated one-quarter of all bitcoin transactions," Bloomberg wrote on Friday, recapping recent events before noting that all of this "suggests Chinese policy makers are moving quickly on a previously reported plan to end exchange trading, their most far-reaching measure to rein in the growth of cryptocurrencies." Here's a fun annotated chart: That, along with Dimon's warnings
Subscribe or log in to read the rest of this content.

8 comments on “Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies

  1. Anonymous says:

    It’s all about knowing what money is. Central banks don’t. And that has been the whole problem for some time now. The percent drop in Bitcoin was pretty normal. It is misleading to say “greatest drop since”.

    • If you only look back to the beginning of the US as a nation, or if you just look back to the California gold rush and the number of private currencies that arose from that gold supply and what happened to all of them – it should be clear to you that central banks/national treasuries know exactly what money is. It’s what they say it is.

  2. […] and that contention is backed up by the crackdown in China and also by a recent B.I.S. paper (see here) which quite clearly suggests that the end game will probably involve central banks shutting down […]

  3. […] and that rivalry is backed up by the crackdown in China and also by a current B.I.S. paper (see below) which really plainly indicates that the finish video game will probably require central banks […]

  4. […] and that contention is backed up by the crackdown in China and also by a recent B.I.S. paper (see here) which quite clearly suggests that the end game will probably involve central banks shutting down […]

  5. […] in September, the BIS had a subtle suggestion: central banks should just go ahead and create their own cryptocurrencies. To wit, from a paper out […]

  6. […] in September, the BIS had a subtle suggestion: central banks should just go ahead and create their own cryptocurrencies. To wit, from a paper out […]

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.