“In an article for Fox News, senior economist Francois Velde of the Federal Reserve Bank of Chicago describes Bitcoin. ‘Although some of the enthusiasm for Bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration or recourse,’ Velde wrote. In his attempt to criticize Bitcoin, Federal Reserve banker Velde actually summed up fairly well everything that’s wrong with his own employer, and in doing so outlines the threat Bitcoin poses to it.”
http://bitcoinmagazine.com/9549/fed-banker-tries-criticizing-bitcoin-ends-perfectly-describing-fed/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Reality Check: VP Biden, "No law abiding citizens fears 2nd amendment infringement".
Thousands Of Firms Trade Confidential Data With The US Government In Exchange For Classified Intelli...
We Have Come Not To Bury the Fourth Amendment But To Praise It
Chinese Central Bank Official: We Don’t Want to Suppress Bitcoin
Shutdown: ObamaCare (No) and the Federal Government (No)
The Dark Side of the iPhone 5S Lines
'Bitcoin Will Do To Money What The Web Did To Information'
Breakfast with Pussy Riot
2012 Election Spending Will Reach $6 Billion, Center for Responsive Politics Predicts
Ballot initiative looks to save Los Angeles pot shops
U.S. Government: The Truth Is Too Complicated and Dangerous to Disclose to the Public
US regulator: Bitcoin exchanges must comply with money-laundering laws
Aaron Swartz's Girlfriend Explains 'Why Aaron Died'
DHS To Purchase Another 750 Million Rounds Of Ammo
CFR Steps Up Attack on the Second Amendment Using Discredited Statistics