Published on November 20th, 2015 | by bitcoin0
Bitcoin in Trouble, says Ex-Fed Chair Ben Bernanke
Former Federal Reserve chairman Ben Bernanke offered both muted praise and criticism when discussing bitcoin in a new interview, suggesting that government oversight of blockchain transactions could counter perceived risks.
Speaking to Quartz, Bernanke said that bitcoin is “interesting from a technological point of view”, pointing to wider developments in the emerging payments space.
“We’re in a world where the payments system is evolving quickly and new approaches to managing payments are proliferating, and some of the ideas around bitcoin will no doubt be useful in doing that,” he told the publication.
Yet the compliments stopped there, as Bernanke continued:
“But I think bitcoin itself has some serious problems.
Its price has been highly volatile and it hasn’t yet established itself as a widely accepted transactions medium.”