Post
Topic
Board Press
Topic OP
[2014-09-12] Bank of England sees Bitcoin fraud risk, deflation danger
by
cescan
on 12/09/2014, 07:25:46 UTC
http://uk.reuters.com/article/2014/09/11/uk-britain-boe-bitcoin-idUKKBN0H61HL20140911

Bitcoin and similar digital currencies may be at increasing risk of fraud and could damage Britain's economy if they find widespread use, the Bank of England said on Thursday.

The BoE said the finite supply of Bitcoins - which are traded between users outside the banking system, and used to buy goods ranging from pizzas to PCs - meant that an economy where they formed the main currency would be at risk of deflation.