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posted by
janrinok
on Wednesday June 27 2018, @12:22AM
from the my-bubble-is-bigger-than-yours dept.
from the my-bubble-is-bigger-than-yours dept.
As reported in the Evening Standard, the Bank of International Settlements published an annual report with four criteria to continue economic growth. However, it was rather overshadowed by a statement in the appendix (reported here, here, here, here, here and elsewhere) where cryptographic currency was described as a "combination of a bubble, a Ponzi scheme and an environmental disaster".
I agree and so does a Canadian electricity company.
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Bank of International Settlements: Bitcoin is a Bubble, a Ponzi Scheme and an Environmental Disaster
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(Score: 2) by Lester on Wednesday June 27 2018, @07:24PM
It's not a ponzi scheme, but it is a bubble and environmental disaster.
Is it a good investment? Well, in bubbles depend on timing. It may be very very very good or a ruin.
What Bitcoin is not is a currency. 99,99% of operations are to buy or sell legal currency. My bad, if your are drug dealer, a ramsomware guy, or any other illegal activity, bitcoin may be a currency for you.