Thursday, January 23, 2014

Will Bitcoin play a role in a currency reset?

Whether Bitcoin would play a role in monetary system change is a hot topic of discission.

Some say yes. Some say no. Some say maybe, but be careful.

I don't know, but CNBC runs this story today which tells you how key establishment players are thinking about Bitcoin.

Here is the link:

And here are a couple of quotes from the story.

Treasury Secretary Jack Lew:

"From the government's perspective, we have to make sure [bitcoin] does not become an avenue to funding illegal activities or to funding activities that have malign purposes like terrorist activities," Lew said. "It is an anonymous form of transaction. And it offers places for people to hide."

JP Morgan Chief Jamie Dimon:

"The question isn't whether we accept it. The question is do we even participate [with] people who facilitate bitcoin?" he said. "The people who are going to eventually really get upset with it will be governments."

Bitcoin will eventually be made to follow the same standards as all other payment systems, Dimon predicted. "That will probably be the end of them."  (editors note: but just in case JP
Morgan has its own form of Bitcoin ready to go)


And here is a credible viewpoint on Bitcoin from an alternative media site for comparison to the above reaction from establishment sources.

One more view from a mainstream media source in the UK:

And here is one last one from an advocate of Bitcoins for the future:

1 comment:

  1. This topic has generated quite a bit of interest from what I can see looking at site visitors. I will try to post on this topic from time to time if I see anything that looks like it might relate to the premise of this blog. We are watching for significant change in the monetary system. If Bitcoin entrenches itself, it may have some role related to that. Too early to tell yet for me.