BC Business
An article released by The Bank for International Settlements, an 88-year-old institution in Basel, Switzerland that serves as a central bank for other central banks, says that cryptocurrencies such as Bitcoin are too unstable, consume too much electricity, and are subject to too much manipulation and fraud to ever serve as...
An article released by the Bank for International Settlements, an 88-year-old institution in Basel, Switzerland, that serves as a central bank for other central banks, says that cryptocurrencies such as Bitcoin are too unstable, consume too much electricity and are subject to too much manipulation and fraud to ever serve as bona fide mediums of exchange in the current global economy. The BIS asserts that the nature of cryptocurrencies is flawed and will eventually overwhelm everything from individual smartphones to servers when the size of ledgers created, transacted and accounted for grow.