Bloomberg View: Abolish Cash, Keep Bitcoin – Bitcoints

bitcoin

Published on November 20th, 2015 | by bitcoin

0

Bloomberg View: Abolish Cash, Keep Bitcoin

Bloomberg View: Abolish Cash, Keep BitcoinInstead of taking their anger out on virtual currencies, now is the time for governments to think seriously about the abolition of cash.
In a 2012 paper for the Federal Reserve Board of Governors, Ruth Judson cited estimates of about 50 percent of all U.S. cash in circulation in 2011.
If Islamic State moved all its transactions, hundreds of millions of dollars a year, into the bitcoin universe, the virtual currency’s rate would spike wildly.
Cracking down on them is not going to be helpful, and it won’t hurt terrorists as much as a move away from cash would.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Source: News.google.com

Tags: , , , ,



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top ↑