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RE: Bankers Explain Plan to Stop Bitcoin
The comments of Lagarde make me smile:
- terrorism was financed before the advent of Bitcoin
- Bitcoin is not financing terrorism, but people are
- financial instability on numerous occasions (lately in 2008) had nothing to do with virtual currencies
- it is not said that virtual currencies will cause financial instability; there is no reason to believe that absence of regulated activity creates financial instability (as history teaches us time and time again)
- perhaps 'financial instability' is just already there and brought out in the open by virtual currencies rising above the fiat water line
However, she also points out to positive aspects of virtual currencies. Actually the positive aspects will ensure its success. This won't be stopped.
Absolutely right :) i agree. i always found it amusing when they call bitcoin the money of criminals, i like to remind people that i have never seen anyone snort coke through a bitcoin but have seen it with a $100 bill.
I am not an expert but I cannot imagine all money to fund terrorist was brought in on pallets as cash (hence, banks must be involved). They just have to supervise banks to find the money that funds terrorists. Apparently, that is more difficult than we may think.