gizmoflak Georgetown Fan Member since May 2007 8901 posts
re: Regulating Digital Currencies: Bringing Bitcoin within the Reach of the IMF (Posted on 6/5/13 at 3:53 pm to WikiTiger)
quote: The paper argues that the International Monetary Fund, the institution responsible for coordinating the stability of foreign exchange rates, is ill-equipped to handle the widespread use of Bitcoins into the foreign exchange market.
Poodlebrain LSU Fan Way Right of Rex Member since Jan 2004 14184 posts
re: Regulating Digital Currencies: Bringing Bitcoin within the Reach of the IMF (Posted on 6/6/13 at 2:57 am to LSURussian)
quote: Why are they scared? Scared of what?
They are scared of a medium of exchange that can't be used to acquire a pack of chewing gum. People are using Bitcoins as investments, and the regulation as investments will come long before regulation as currency. This is evidenced by regulators already declaring Bitcoins would be treated as commodities.
re: Regulating Digital Currencies: Bringing Bitcoin within the Reach of the IMF (Posted on 6/6/13 at 6:18 am to Poodlebrain)
I love when Wiki posts these articles, thinking "this'll show those haters", and then gets pummeled by respected MT Board regulars who have forgotten more about the financial world than he'll ever know.