Basically its a Mega Soduku
Speaking at the Goethe University the General Manager of the Bank for International Settlements, Agustin Carsens, compaired Bitcoin to a Mega Soduku saying " Who would have thought that having people guessing solutions to what was described to me by a techie as the mathematical equivalent of mega-sudokus would be a way to generate consensus among strangers around the world through a proof of work? Does it thus provide a novel solution to the problem of how to generate trust among people who do not know each other?"
Mr. Carstens ( Image from Bitcoin News )
He also spoke about Money, which is flatly connected to the government saying its, " an indispensable social convention backed by an accountable institution within the State that enjoys public trust.” Setting the tone, he immediately states that, “Private digital tokens posing as currencies, such as bitcoin and other crypto-assets that have mushroomed of late, must not endanger this trust in the fundamental value and nature of money.”
I don't know but it looks like the Central Banks are a little worried here but who am I to say.
Mr. Carstens goes on to say Bitcoin has become a combination of a bubble, a Ponzi scheme and an enviromenal disaster. I would like to know where were these guys in early December along with the Mainstream Media when the price was about to hit 19k ?
Probably selling their Bitcoin to the new buyers getting gassed by the same Media now spreading FUD and buying up tons on the dip.
Read the full article here.
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