28 Mar '14, 5pm

Another huge global bank (thoughtfully) slams Bitcoin

Another huge global bank (thoughtfully) slams Bitcoin

UBS isn’t scared of Bitcoin — but it does think financial giants could learn a trick or two from the virtual currency. The Swiss global financial firm today criticized Bitcoin’s viability as a currency, saying its semi-fixed supply breeds volatility and provokes deflationary pressure. “As a stable store of value and unit of account, Bitcoin clearly struggles, and there is no obvious remedy given the impossibility of regulating the money supply to stabilize Bitcoin-denominated prices,” reads a section of the report, entitled Bitcoins and Banks: Problematic currency, interesting payment system . Bitcoin’s prime advantages over banks are its lack of transaction fees and middle-men (disintermediation). But given Bitcoin’s “limited viability as a currency,” UBS concluded that it poses limited threats to banks. Still, the research team led by UBS analyst Derek De Vries concludes...

Full article: http://venturebeat.com/2014/03/28/another-huge-global-ban...

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Now Its UBS' Turn To Slam Bitcoin

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businessinsider.com 28 Mar '14, 2pm

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businessinsider.com 28 Mar '14, 12pm

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gigaom.com 28 Mar '14, 5pm

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