Member of the Board of the Bundesbank is concerned about the volatility of bitcoins

Japan legalized bitcoin, and the price for crypto currency began to grow rapidly. However, German financial regulators still warn people of caution in using the new currency. In an article dated May 5, Carl-Ludwig Thiele, member of the Board of the German Central Bank (Bundesbank), evaluated the use of bitcoin as risky and ill-advised.
Till said: "From our point of view, bitcoin is not the best asset for investments. Confirmation of this is a very unstable course of the crypto currency. "
A similar comment from German bankers surprised few people, since the majority of German citizens prefer cash to non-cash payment. The article by Handelsblatt Global contains data from a recent study on this topic:
"The Germans and their neighbors, citizens of Austria, are more inclined to use cash than residents of other European countries. According to a study published on Wednesday, residents of these countries can hardly imagine a day when they will do without cash. "
The question of "unstable course" bitcoin

A member of the board of Bundesbank is particularly concerned about the "volatile" nature of bitcoin. However, the level of volatility of the crypto currency has significantly decreased in recent years. Justin Connell, a Bitcoin.com journalist, noted that the volatility of the crypto currency has fallen since 2011, even if we compare its performance with the euro, the British pound and the Japanese yen.
Connell notes: "Bitcoin's volatility has fallen and is now around 5%." For comparison, the volatility of gold averages about 1.2%, and the major currencies - from 0.5 to 1%. "
Connell completes the article by saying that he has a significant increase in the volume of bitcoin transactions in recent years along with his price, and notes that volatility did not grow at the same rate.
Bitcoin in Germany is not banned yet

Despite the fact that German bankers pay much attention to the essentially non-existent problem of bitcoin volatility, they still do not seek to ban the use of crypto currency in the country. They consider bitcoin a useful means of transferring money, at least until people violate money laundering legislation.
Currently, a member of the Council of the Bundesbank considers bitcoin as a niche product that does not threaten the global monetary system or the work of German banks. In other words, regulators give people permission to use crypto currency as long as the laws are observed, and it does not threaten the existing system:
"Users of crypto-currencies should not violate the laws on money laundering. Bitcoin does not pose a threat to the financial system, at least until it remains a marginal phenomenon. "