I want to put a different view from all the posts in the thread and in support of IMF statement here.
How can a speculative currency with high volatility can sustain global economy?
Whether people like it or not but economic growth is highly dependent upon liquidity and leverage from banks. you can't exclude banks from the financial system and have a stable economy. Bitcoin doesn't even have any intrinsic value then why you expect economist to trust it. If something is growing without any intrinsic value and is backed by nothing, the chances of collapse intensifies. I don't think anyone who calls Bitcoin a bubble or find it riskier for economy is wrong. If in future people find a better return giving asset or any better option than cryptocurrencies, demand will turn 0, then what gonna sustain the value? and how this isn't risky? and who guarantees the definite future growth of cryptocurrencies? I believe no one here. Then how can it will be a better option for economic growth?
Topic: IMF response about Bitcoin - page 2. (Read 804 times)
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
I think the is right, it can disrupt it but I don't think in a dangerous way. I think its the other way around, bitcoin will disrupt it in a positive way. Look at how it affect the lives of others, specially third based country, we found bitcoin as other way to earn money. They don't want it because their business of giving loans to third world country will diminished, that's why we see another entity attacking bitcoin because they are being threaten. And besides, they have not business whatsoever to attack something they don't believed or fully understand.
They only fear that their control in the financial market will be lost.
They will do whatever needed in order to keep holding and controlling our money.
And that is why Bitcoin is around.BTC
They will do whatever needed in order to keep holding and controlling our money.
And that is why Bitcoin is around.BTC
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
I think the is right, it can disrupt it but I don't think in a dangerous way. I think its the other way around, bitcoin will disrupt it in a positive way. Look at how it affect the lives of others, specially third based country, we found bitcoin as other way to earn money. They don't want it because their business of giving loans to third world country will diminished, that's why we see another entity attacking bitcoin because they are being threaten. And besides, they have not business whatsoever to attack something they don't believed or fully understand.
The current head of the International Monetary Fund, Christine Lagarde, is a convicted criminal who is guilty of fraud. Another former IMF head, Rodrigo Rato, is facing allegations of fraud as well.
I'm not saying that criminals are necessarily incapable of making good points. In fact, if the IMF was providing a very detailed and reasonable argument, I would treat them pretty similarly to how I would treat anyone else making reasonable points. I'm just saying that when the foundation of an argument is assertions, the most important thing about the argument is the credibility of the group making it. And the IMF has a lot less credibility than some people think.
I'm not saying that criminals are necessarily incapable of making good points. In fact, if the IMF was providing a very detailed and reasonable argument, I would treat them pretty similarly to how I would treat anyone else making reasonable points. I'm just saying that when the foundation of an argument is assertions, the most important thing about the argument is the credibility of the group making it. And the IMF has a lot less credibility than some people think.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
I think the is right, it can disrupt it but I don't think in a dangerous way. I think its the other way around, bitcoin will disrupt it in a positive way. Look at how it affect the lives of others, specially third based country, we found bitcoin as other way to earn money. They don't want it because their business of giving loans to third world country will diminished, that's why we see another entity attacking bitcoin because they are being threaten. And besides, they have not business whatsoever to attack something they don't believed or fully understand.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
I mean, they're not wrong when it comes to disrupting the stability of the global economies, since it is an asset that is essentially completely out of the control of governments and similar institutions. If it was just another government-controlled item, they wouldn't say this because there would be no possibilities for people to get out of the fiat system. Being able to get out of inflation and enter an economy which is essentially completely deflationary and has your assets appreciate in value is a massive threat to a system that relies on devaluing work.
Countries will issue all their cryptos very soon and buy buy coins like Bitcoin. The only coins will survive are those who do a real job, like ethereum, neo etc..
As the financial stability rely on the fiat money printing system in most countries, their statement makes absolute sense. If the financial situation in a country gets instabil then they simply create more money and throw it on the market which stimulates the demand. But as everyone knows, they can not create bitcoin and throw it on the market. So the more people will use bitcoin the less effective will their money printing system become to stabilize the economy.
so is this a fear of bitcoin impact? according to my knowledge, the IMF is not a fair institution, meaning there is a monopoly that benefits certain parties.IMF does sometimes indicates unfair actions by their movement and decisions. There are even various controversies regarding this, but they are just assumptions. About Bitcoin, I don't think IMF has any policies that can harm Bitcoin, they can just monitor it as of now. The statement is result of fear and yes it may affect the economy, but I hope as time will pass by, situation will adapt and the fears would be handled, if such fears come true.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
The IMF is right. But there is a way out. Reduce taxes, remove restrictions on the movement of capital and people, liberalize the financial and other systems - and the outflow of funds into bitcoin will cease. But no one will do it.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
The only financial stability it will disrupt is the bank accounts of bankers who control fiat.
As the financial stability rely on the fiat money printing system in most countries, their statement makes absolute sense. If the financial situation in a country gets instabil then they simply create more money and throw it on the market which stimulates the demand. But as everyone knows, they can not create bitcoin and throw it on the market. So the more people will use bitcoin the less effective will their money printing system become to stabilize the economy.
so is this a fear of bitcoin impact? according to my knowledge, the IMF is not a fair institution, meaning there is a monopoly that benefits certain parties.IMF is still unclear about the future of bitcoin, they just monitor it, maybe if bitcoin penetrate $10000 IMF will start thinking hard again.
If that's the case I think they can handle it, it's very easy to find someone who knows about bitcoin.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
I expected the same from an institution like IMF. Organized financial sector has already identified bitcoin as a threat to their business and IMF is nothing but a lending authority. Banks lend to public, Government backed Central bank lend to commercial banks and IMF lends money to the governments. So it is a chain of business and IMF is worried for the same reason like any other commercial banks. However, I am sure, bitcoin's full potential has still not reached and it has a long way to go. Soon IMF and other commercial banks will have to re-think their strategy about virtual currencies like bitcoin.
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
Indeed.They knew it and every other financial organisation knows about it.If people stop believing in fiat,that is the end of economy,end of banks which regulate the world.Unfortunately,the government is a bitch,they would never let that happen.Once it starts scaling,they will simple ban bitcoin or on the use of bitcoin by shutting exchanges and levying charges on users for using bitcoins. As the financial stability rely on the fiat money printing system in most countries, their statement makes absolute sense. If the financial situation in a country gets instabil then they simply create more money and throw it on the market which stimulates the demand. But as everyone knows, they can not create bitcoin and throw it on the market. So the more people will use bitcoin the less effective will their money printing system become to stabilize the economy.
so is this a fear of bitcoin impact? according to my knowledge, the IMF is not a fair institution, meaning there is a monopoly that benefits certain parties.IMF is still unclear about the future of bitcoin, they just monitor it, maybe if bitcoin penetrate $10000 IMF will start thinking hard again.
As the financial stability rely on the fiat money printing system in most countries, their statement makes absolute sense. If the financial situation in a country gets instabil then they simply create more money and throw it on the market which stimulates the demand. But as everyone knows, they can not create bitcoin and throw it on the market. So the more people will use bitcoin the less effective will their money printing system become to stabilize the economy.
so is this a fear of bitcoin impact? according to my knowledge, the IMF is not a fair institution, meaning there is a monopoly that benefits certain parties.IMF is still unclear about the future of bitcoin, they just monitor it, maybe if bitcoin penetrate $10000 IMF will start thinking hard again.
They are afraid 
I agree with u. LOL As the financial stability rely on the fiat money printing system in most countries, their statement makes absolute sense. If the financial situation in a country gets instabil then they simply create more money and throw it on the market which stimulates the demand. But as everyone knows, they can not create bitcoin and throw it on the market. So the more people will use bitcoin the less effective will their money printing system become to stabilize the economy.
so is this a fear of bitcoin impact? according to my knowledge, the IMF is not a fair institution, meaning there is a monopoly that benefits certain parties.
Rather naive thing for them to say, giving Bitcoin far more importance than it currently has. Whats the market cap, ~$100bn, about the same as one large US company. Due to its nature it has no systemic risk to financial markets or banking sector, where any real risk to global financial stability will come from. If Bitcoin bombs today, a lot of geeks, entrepreneurs, ASIC manufacturers and many some power companies will take a hit, but 99%of business would be unaffected.
Nobody dont care about what International Monetary Fund said, while bitcoins giving profit people will use them till the end, so many organisations already said same words but still all is ok, just need work and what will be in the future we cant know.
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