Saxo Bank CEO: Bitcoin Faces Serious Challenges (Needs Link To Real Assets) - page 2.

justusranvier

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Quote from: Siegfried on February 11, 2014, 12:48:34 AM

Bitcoin the currency is linked to bitcoin the network, and the capabilities of that network are very useful and much better than anything offered by the traditional banking system. That to me seems like more than enough "intrinsic value" to sustain bitcoin.

Of course it is. That's why they are so scared.

As long as Bitcoin as existed, there's been a FUD campaign running to convince the clueless that Bitcoin's greatest strength - lack of counterparty risk - is actually a weakness that needs to be "fixed" by backing it with something.

Siegfried

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How to link a cryptocurrency to a physical or financial asset without centralized control? Decentralization is one of the main features of bitcoin. If people want a centrally-controlled digital currency, they can continue to use digital dollars, euros, etc. Government fiat currencies are not linked to any physical or financial assets either. It seems to me that that doesn't really matter.

Bitcoin the currency is linked to bitcoin the network, and the capabilities of that network are very useful and much better than anything offered by the traditional banking system. That to me seems like more than enough "intrinsic value" to sustain bitcoin.

gollum

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In Hashrate We Trust!

Quote

"I think Bitcoin will face serious challenges in the long run,
although I believe such digital currencies could have a place in the economy in more well thought-through structures with values better linked to real assets.
...
Anything in the financial space that can be regulated will be regulated. Get used to it! This will also apply to digital currencies. But regulation could be their ticket to real acceptance and success — and should therefore not be seen only as a negative."

• Bitcoin faces regulatory challenge as it gains traction
• Price volatility could scare away serious investors
• Refined digital currency models could ultimately surpass Bitcoin

Lars Seier Christensen Lars Seier Christensen
co-founder & CEO / Saxo Bank A/S

Source: https://beta.tradingfloor.com/posts/bitcoin-faces-serious-challenges-isn-only-game-town-1387698956
Republished: http://www.zerohedge.com/news/2014-02-10/saxo-bank-ceo-bitcoin-faces-serious-challenges-needs-link-real-assets

As I also have mentioned many times the weakness of bitcoin is:
Bitcoin is basically FIAT.

What the world need is a crypto currency that is linked to physical assets such as gold, or financial assets such as obligations, stocks, ETF's or derivatives.

Maybe Ripple, MasterCoin, Protoshares, NXT or something new will become the established asset linked crypto currency.

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