According to Mark Carney, Bitcoin is a failure

The governor of the bank of England Mark Carney came out of the silence, claiming that Bitcoin was a resounding failure. According to him, this is not a currency, and it never will be. Return on these claims, which are obviously a lot of noise from the advocates of the crypto-currency.

A dismal failure

Mark Carney is the governor of the Bank of England. The man has decided to come out of the silence during a conference that was held these days within the Regent’s University in London. The banker wanted to give its opinion on the digital currency, and in particular on the famous Bitcoin.

Pixababay – Géralt / The Bitcoin will never be a currency according to the banker.

According to him, the virtual currency is experiencing a terrible failure and can not be regarded as a currency in its own right. Why ? Just because the Bitcoin is not a store of value or even medium of exchange : “It would seem that it has failed […] on the traditional aspects of a currency. It is not a reserve of value because it “goes in all directions”. And nobody uses it as a medium of exchange. “

Of about polemics

We can’t quite give it due to the fact that many merchants now accept payments in Bitcoin. However, the Bitcoin is in trouble for several weeks now. A few companies have decided to turn the back to the crypto-currency, like Stripe or Steam for example. This could in effect justify the failure of the Bitcoin.

Pixabay – Geralt / Mark Carney is very pessimistic about the future of Bitcoin.

However, let us not be too hasty. The Bitcoin is not dead, far from it. According to many experts, the fall in its value is quite logical and related to the establishment of a balance which can be tricky to find.

It is obvious that Mark Carney believes no more Bitcoin. But his remarks are far from unanimous. The future will tell us if the Bitcoin is a cruel failure or not.

Source : Washington Post