Many people are hesitant to get into cryptocurrencies such as Bitcoin because they are afraid and don’t understand it. They don’t understand that it is decentralized and no central authority can control it. Like a central bank. To me that is the best feature of cryptocurrencies.
President of Deutsche Bundesbank, Dr Jens Weidmann, gave a speech at the Bundesbank Policy Symposium where he talked about ways to stop the digitalization (cryptocurrencies) of private money.
They are clearly threatened by the rise of cryptocurrencies and are desperate to do something to stop them. They will probably create their own cryptocurrency eventually; Ripple, Fedcoin??
But the way I see it is they can’t stop Bitcoin or cryptocurrencies and it’s not manipulated like precious metals. It’s truly a free market unlike everything else.
Man, this is all truly refreshing…
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