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Official News 08.11.2017 Famous banker about cryptocurrency: Bitcoin is more than a just fad

Discussion in 'MMM Global - English' started by Indy, Nov 10, 2017.

  1. Indy

    Indy Administrator

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    You can participate in MMM in two ways - with traditional money and with cryptocurrency. We recommend you the second option as it is faster, more profitable and secure.

    One of the most well-paid bankers of the world, James Gorman - chief executive director of the largest financial conglomerate Morgan Stanley - has recently said that Bitcoin is much more than a temporary entertainment. These words were pronounced publicly during his speech in the event carried out by Wall Street Journal.

    Bitcoin is not a fad

    The world known banker said the following about the most popular cryptocurrency of the world - “Obviously, Bitcoin is not a whim, it is much more than just temporary entertainment. The idea of the anonymous currency is curious as it ensures total confidentiality for the users and shows to the Central Banks that it’s impossible to control”.

    According to his words, he hasn’t invested in Bitcoin yet, however he knows people who do it constantly. The banker has noted a highly speculative character of the cryptocurrency, however has said that it is natural and happens due to the mechanisms that form the base of the Blockchain technology.

    What actions will be taken by the bank regulators?

    Gorman has also stated that monitors the actions of the regulators. When and what measures will be taken by the world Central banks concerning the cryptocurrencies is unclear for the moment.

    Nevertheless, regulators probably won’t like the fact that financial flows go to the cryptocurrency world due to the numerous advantages of Bitcoin. Moreover, they won’t be able to control these flows, and won’t be able to regulate users activities.

    However, it can’t lead to the complete prohibition of Bitcoin and other cryptocurrencies as they have already showed its independence and stability despite numerous attempts to forbid them.

    Besides, technically it’s impossible to forbid cryptocurrencies, therefore the users of digital money shouldn’t be afraid of anything. The authorities will have to cooperate with cryptocurrencies, not to forbid them. Because cryptocurrencies will prevail in the future!
     
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