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Topic: [2017-03-01] DNA: RBI Deputy Guv warns against virtual currencies like Bitcoin (Read 762 times)

sr. member
Activity: 308
Merit: 250
The government can't control it, or help you from scams frauds etc.
fools will loose it all, that's the only reason for that warning.  Wink
S_D
full member
Activity: 198
Merit: 112
RBI Deputy Guv warns against virtual currencies like Bitcoin

http://www.dnaindia.com/money/report-rbi-deputy-guv-warns-against-virtual-currencies-like-bitcoin-2339028

Reserve Bank Deputy Governor R Gandhi today raised concerns over virtual currencies such as Bitcoin and said they pose potential financial, legal, customer protection and security-related risks.

He said such digital currencies are not created by any authority but more and more people have started accepting them. "We can see that in these types of virtual currencies there is no central bank or monetary authority. They pose potential financial, operational, legal, customer protection and security-related risks," Gandhi said at a Fin Tech conference organised by Ficci, Indian Banks' Association and Nasscom.

Despite a bitcoin supporter I think there is some truth in what mr R Gandhi has said.
Bitcoin is no doubt a risky investment for if it fail, there is no remedy.

Or there could be a deeper truth to it, DABFI could help in curbing all those problems govt. has to shoot at bitcoin community. But its only their fear of loosing control that keeps them from supporting it.
hero member
Activity: 518
Merit: 500
RBI Deputy Guv warns against virtual currencies like Bitcoin

http://www.dnaindia.com/money/report-rbi-deputy-guv-warns-against-virtual-currencies-like-bitcoin-2339028

Reserve Bank Deputy Governor R Gandhi today raised concerns over virtual currencies such as Bitcoin and said they pose potential financial, legal, customer protection and security-related risks.

He said such digital currencies are not created by any authority but more and more people have started accepting them. "We can see that in these types of virtual currencies there is no central bank or monetary authority. They pose potential financial, operational, legal, customer protection and security-related risks," Gandhi said at a Fin Tech conference organised by Ficci, Indian Banks' Association and Nasscom.

Despite a bitcoin supporter I think there is some truth in what mr R Gandhi has said.
Bitcoin is no doubt a risky investment for if it fail, there is no remedy.
legendary
Activity: 1358
Merit: 1000
RBI Deputy Guv warns against virtual currencies like Bitcoin

http://www.dnaindia.com/money/report-rbi-deputy-guv-warns-against-virtual-currencies-like-bitcoin-2339028

Reserve Bank Deputy Governor R Gandhi today raised concerns over virtual currencies such as Bitcoin and said they pose potential financial, legal, customer protection and security-related risks.

He said such digital currencies are not created by any authority but more and more people have started accepting them. "We can see that in these types of virtual currencies there is no central bank or monetary authority. They pose potential financial, operational, legal, customer protection and security-related risks," Gandhi said at a Fin Tech conference organised by Ficci, Indian Banks' Association and Nasscom.
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