30 Apr '14, 5am

People’s Bank of China :Bitcoin is not currency in real sense:

Today ,People’s Bank of China has released the report about stabilize Chinese finance ,talking about bitcoin on a paragraph .”From the attribute,bitcoin is not currency in real sense .First ,without national trust support ,legality and compulsion ,its circulating range is limit and unstable .Second ,bitcoin exists scale ceiling which is difficult to adapt to economic development.If bitcoin becomes currency ,it may cause deflation ,preventing economic development .Third ,bitcoin lacks efficient system ,so it’s easy to be over hyped .Thus ,bitcoin price may change drastically so that it cant become currency and medium of circulation .At present ,what accepts bitcoin payment most is marked price by the mainstream currency in the countries .Forth ,with strong replacement ,bitcoin is difficult to be currency .Thus ,bitcoin is a speculation tool not payment tool in physical econ...

Full article: https://bitcointalk.org/index.php?topic=590014.0

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