The head of Mexico commented on bitcoin

aoluain

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Quote from: peterthegreat on October 08, 2017, 12:48:53 PM

Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

That guy is not the head of Mexico. I do not know how to spell the head of Mexico's name, but I can guarantee you it is not that guy.

you are right, he is not the head of Mexico, he is the head of the National Bank of Mexico

this is good news though.
while not banning bitcoin we may see a move by Mexico similar to Japan and Australia

bitcoinisbest

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Hope so things turns out to be in a positive way for Mexico and for rest of the world and not like China where Mexico also decided to ban the bitcoin . If they can bring under their purview it will be nice for the people of Mexico too so that even they can be part of bitcoin world.

peterthegreat

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Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

That guy is not the head of Mexico. I do not know how to spell the head of Mexico's name, but I can guarantee you it is not that guy.

TagaMungkahi

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Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

The head of the National Bank of Mexico took Bitcoin in a legal way and what would be it's future when it comes to the law and policies of a certain country, as for me this is not a threat or another FUD news but rather a good take on what Government and Law of a certain country will take bitcoin on the future.

deadsilent

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Quote from: Cacingkemi on October 05, 2017, 12:53:25 AM

I hope this is a good news for BTC,as far I hold BTC user security is very safe.I see from a long way about the development of wanting to enact financial laws in mexico,hopefully that will be good news for BTC.Mexico users should explain to the head of finance there is security in crypto world it is very safe,I hope that mexico can legalize BTC.
There any site that explain about this,can you provide a link site?

I think it's a just a fair statement that came from that guy. He is just telling the truth. He is just giving a warning to those who use this technology. It's true that there's a threat to cybersecurity. So we have to be aware of that. Bitcoin is not fully supported by government. So, when something happens, we can't count on them because it's not really supported by the government. He stated that cryptocurrency there will be regulate soon. Well, i think that's better. If they are not gonna regulate it. That means we are gonna have the support of government. It's better this way than bitcoin is ending up being banned by the government.

jseverson

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Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

This looks like a good read. Would you be able to provide us with a link?

What I gather from what you wrote, though, is that he is taking a neutral stance. I'm glad that a person of his position is keeping an open mind about cryptocurrencies. He is correct in his assessment that Bitcoin is currently being used more as a commodity, more specifically as a storage of value, rather than a currency. He is also correct in stressing the importance of cybersecurity, as most people who use the internet don't even know the basic steps in protecting themselves online -- these people are already vulnerable enough as is, with phishing scams and malware, and introducing them to Bitcoins is only going to raise the stakes much higher. Should he maintain his open mind throughout this process, not letting all the FUD get to him, Mexico will have a bright future in cryptocurrencies.

peter0425

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Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

Ok. Nice to hear that Mexico is not anti-bitcoin if you are going to read between the line what the head of their National Bank. So for now, they stay neutral and in the middle of everything. And the thing is he just stated that everyone who are into crypto would need to protect themselves for such attacks as hacking and scammed.

The last sentence looks like a positive note because he is for the regulation of bitcoin and crypto in general. Bitcoin has really attracted every nation now. And everyone of them have its own opinion. But one thing is for sure, bitcoin is really unstoppable that's why every country now is taking notice of it.

Flomo

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precisely, cryptocurrency must have legal protection in order to avoid unwanted things and become a disbursement of funds for criminal acts. to do that of course cryptocurrency should also contribute to the state by paying taxes or other useful things to improve the country's economy.

Vatimins

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Quote from: [email protected] on October 05, 2017, 12:37:13 AM

Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

Well, everyone has their own say about anything. Specially famous people or things. So I wouldn’t be shocked that this happened or would happen a lot to bitcoin and other crypto currency present. But clearly, this guy doesn’t know much about the security of crypto currencies. And probably just comments based on hear says and not research.

I can also see someone trying hard to hide an intention to make cryptos look bad and to step by step make people accept the plans of the government to centralize the crypto world.

I just hope this doesn’t get misunderstood by a lot and make hundreds of thread about this again just like other news.

Scorpion

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I think that's a responsible to thing to say considering the source and how they wish to proceed when it's a fairly new technology especially with Mexican retailers and customers. Yes, everyone needs to be aware of risk and take all precautions with cyber security with anything on the internet but especially Bitcoin.

Jovovich

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Quote from: Cacingkemi on October 05, 2017, 12:53:25 AM

I hope this is a good news for BTC,as far I hold BTC user security is very safe.I see from a long way about the development of wanting to enact financial laws in mexico,hopefully that will be good news for BTC.Mexico users should explain to the head of finance there is security in crypto world it is very safe,I hope that mexico can legalize BTC.
There any site that explain about this,can you provide a link site?

I guess his statement is either neutral or giving out negative issues of bitcoin in a good way as possible. I observe that almost all governments fears the security and movement of bitcoin once is is legalized in their own state. Anyways it is just his comment as op stated so i hope this wont become another headline for bitcoin news followers.

Cacingkemi

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I hope this is a good news for BTC,as far I hold BTC user security is very safe.I see from a long way about the development of wanting to enact financial laws in mexico,hopefully that will be good news for BTC.Mexico users should explain to the head of finance there is security in crypto world it is very safe,I hope that mexico can legalize BTC.
There any site that explain about this,can you provide a link site?

[email protected]

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Agustin Carstens, head of the National Bank of Mexico, said about bitcoin. Karstens said that bitcoin is more of a commodity than a currency, and added that he does not have anything to ensure his accounting in the financial system. According to him, since bitcoin is not supported by either the government or the Bank of Mexico, it does not fall under the existing currency definitions. In addition, he warned about the problem of cybersecurity and stressed that the safety of users should be ensured. Finally, he noted that the authorities will soon propose legislation regulating financial technologies, such as crypto-currencies.

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