Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. ... So my message to young people would be: Stop trying to create money
Trying? hehehe
But Satoshi already did create a new type of money. I reckon the central bankers are slowly becoming fully aware that their banking scams now have serious competiton in bitcoin and the cryptospace.
Topic: [2018/07/05]BIS Chief to Crypto Coders: 'Stop Trying to Create Money' - page 2. (Read 343 times)
July 05, 2018, 08:24:48 PM
July 05, 2018, 07:57:47 PM
Isn't this the same guy who recently told that Bitcoin will kill the Internet? Nothing shocking here, some bankers are really scared and frustrated seeing people creating their own money, and they were also taught that money is the creation of banks, totally ignoring thousands of years of history. Ironically, their public display of fear and anger might only make cryptocurrency stronger, because it means that cryptocurrencies are working as intended - disrupting the banks.
July 05, 2018, 07:28:05 PM
Quote
It's a fallacy to think money can be created from nothing
What are euros created from, then?
July 05, 2018, 03:24:51 PM
BIS Chief to Crypto Coders: 'Stop Trying to Create Money'
Source: https://www.coindesk.com/bis-chief-says-stop-trying-to-create-money-in-new-crypto-critique/
The head of the Bank of International Settlements has predicted a bad ending for cryptocurrencies, calling for an end to their production in a recent interview.
In an interview with a Basel-based media outlet on June 30, Agustín Carstens took aim at cryptocurrencies and reiterated his belief that they represent "a bubble, a Ponzi scheme and an environmental disaster," according to a transcript published by the BIS on Wednesday.
Asked whether he agrees that cryptocurrency has had a positive impact by making young people think about money, Carstens asserted that cryptocurrencies don't have the core features to be a currency. As such, the BIS head contended that the activities associated with cryptocurrency represents an effort to create money out of nothing.
"Young people should use their many talents and skills for innovation, not reinventing money. It's a fallacy to think money can be created from nothing," Carstens said, adding:
"Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. ... So my message to young people would be: Stop trying to create money!"
After being appointed as the general manager in December 2017 to lead the BIS, an international institution known for its role as a kind of bank for central banks, Carstens has not shied away from making strong comments on cryptocurrency.
As previously reported by CoinDesk, the BIS chief issued sharply critical statements about cryptocurrency in February of this year.
Agustín Carstens image via Banco de México/Flickr
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Source: https://www.coindesk.com/bis-chief-says-stop-trying-to-create-money-in-new-crypto-critique/
The head of the Bank of International Settlements has predicted a bad ending for cryptocurrencies, calling for an end to their production in a recent interview.
In an interview with a Basel-based media outlet on June 30, Agustín Carstens took aim at cryptocurrencies and reiterated his belief that they represent "a bubble, a Ponzi scheme and an environmental disaster," according to a transcript published by the BIS on Wednesday.
Asked whether he agrees that cryptocurrency has had a positive impact by making young people think about money, Carstens asserted that cryptocurrencies don't have the core features to be a currency. As such, the BIS head contended that the activities associated with cryptocurrency represents an effort to create money out of nothing.
"Young people should use their many talents and skills for innovation, not reinventing money. It's a fallacy to think money can be created from nothing," Carstens said, adding:
"Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. ... So my message to young people would be: Stop trying to create money!"
After being appointed as the general manager in December 2017 to lead the BIS, an international institution known for its role as a kind of bank for central banks, Carstens has not shied away from making strong comments on cryptocurrency.
As previously reported by CoinDesk, the BIS chief issued sharply critical statements about cryptocurrency in February of this year.
Agustín Carstens image via Banco de México/Flickr
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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