William Galvin, a politician of long standing from the Massachusetts secretary of the Commonwealth, began this week in the shoes of an expert in investment and in foreign currencies. He has published a statement in which he cites seven points that he sees as the dangers of Bitcoin. With this warning, the State of Massachusetts is now part of the list of u.s. States that show a public hostility to the Bitcoin and crypto-currencies in general.
The Next Web
A page and a half to disparage Bitcoin
Titled ” Secretary Galvin Warns about Bitcoin Mania “, the document is a page and a half and focuses on seven points. The first sentence of the document gives the tone : “The secretary-general of the Commonwealth, William F. Galvin warns that today’s investors do not get caught up in the speculative bubble of Bitcoin. “And to add a few lines further on :” The Bitcoin is just the latest example of a series of speculative bubbles that eventually burst, leaving investors means with a product without value. “
The incoherent arguments
Galvin demonstrates his illiteracy on the subject of crypto-currencies throughout the document. The sixth point, for example, Galvin said curiously as the technology Blockchain ” is still experimental and subject to change, errors, mistakes or criminal activities that could affect the digital wallet of the user. “This statement is quite false. The technology Blockchain has already demonstrated its effectiveness in many areas, including in the online betting industry.
Among the us States which have already spoken out against the crypto-currencies are found in Connecticut, Georgia, Hawaii, New Mexico, New York and Washington. New Hampshire, a neighbouring State of Massachusetts, has adopted a completely different approach by actively encouraging the creation of companies of the Bitcoin.
Source : News.bitcoin.com