Is bitcoin unstable to pay with it
Bitcoin will have to wait for a long time to become an officially accepted payment instrument in Europe if it is judged on the position of the European Central Bank (ECB). According to Reuters, Governor of Austria's Central Bank Governor and Governor
Ewald Nowotny warned that bitcoin currently does not meet the conditions for listing in officially accepted payment methods. The reason: the lack of stability in the movement of value and is prone to speculation.
"Bitcoin lacks one thing that makes a good currency, and that's stability," Nowotny said in an interview with the Austrian newspaper Kleine Zeitung, which was released yesterday. "Bitcoin is also the object of speculation," added the first man of Austrian monetary authority.
The fact is that bitcoin, and other digital currencies, lacks a single supervisory body, such as a central bank. Others say that is one of the biggest advantages. Bitcoin transactions are recorded on thousands of computers around the world that confirm the validity of transactions.
Some merchants in the world have begun accepting payment in bitcoin, and it is increasingly used as a way to transfer money without the need for third-party intermediation. The second fact is that this digital currency has begun to attract more and more investors who see it as an alternative to gold and "solid currencies" as a means of preserving value
Ewald Nowotny in an interview with the Austrian media said that central banks should not banned bitcoin transactions but that investors and anyone who wants to pay for goods and services must be aware of the risk.
According to the April statement of ECB Executive Board member Yvesa Mersch, monetary authorities in the euro area currently work on a "experimental version" of the digital currency relatively similar to bitcoin.
However, it is necessary to carry out additional checks before considering whether such a digital currency may be accepted as an official payment instrument
it will continue to rise
Pls follow me 2
I see you're new here. Do not ask people to follow you you will not get far with that. Make a good article or comment and these people will follow you
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Lasper from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.