“Bitcoin may be gaining popularity but a senior official of internet giant Google said he was not ‘particularly optimistic’ about the digital currency’s future since it suffers from being the first in that space. ‘It (bitcoin) is partly a medium of transaction, a medium of exchange,’ Google’s chief economist Hal Varian said. ‘I think something like this technology will take hold in the future but I am not particularly optimistic about bitcoin because it suffers from being the first in the area. [..] We have a saying in the US that you can always tell pioneers that they are the ones with errors in their bags,” Varian said here. He was interacting with the audience after giving a talk organised by economic policy think tank ICRIER.”
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