January 26, 2018

Davos is clear on bitcoin: It's an interesting investment, but please don't call it a currency.
Bitcoin's volatile ascent has transformed it from a tech industry curiosity to a major topic of discussion at this year's World Economic Forum.
Yet the consensus in Davos, Switzerland, is that bitcoin will never be as useful as the dollar or yen in the real world.
"The central banks have been nurturing the [financial] system for centuries... we've got a good thing going on," Nobel laureate Robert Shiller said at a debate about the cryptocurrency.
Cecilia Skingsley, deputy governor of Sweden's central bank, said she had "no problem with people using [bitcoin] as an asset to invest in."
"But it's too volatile to be used as currency," she added.
Bitcoin prices, which peaked near $20,000 in December, have fallen sharply to under $11,000 after a series of exchange closures and talk of increased regulation raised concerns over the digital currency's future.
Even Davos attendees who have invested in bitcoin said its utility as a currency is limited. Jennifer Zhu Scott, an entrepreneur and cryptocurrency investor, described it as a "store of value."
"I don't think it's a currency, it's disrupting gold," she said. "A cryptocurrency can do what gold is doing much better."
The comments reflect growing anxiety over the real world applications for bitcoin, which is accepted at a smattering of retailers but has failed to find widespread acceptance.
Leading online payments company Stripe said this week that it will stop processing bitcoin transactions in April. It said the huge volatility in bitcoin prices has made it impractical for making and receiving payments.
Top government officials in Davos also signaled that digital currencies have a long way to go.
"We encourage fintech, we encourage innovation, but we want to make sure that all of our financial markets are safe and aren't being used for illicit activities," said U.S. Treasury Sec. Steven Mnuchin.
British Prime Minister Theresa May echoed that sentiment, telling Bloomberg that her government would look "very seriously" at cryptocurrencies "because of the way they are used, particularly by criminals."
Larry Fink, chief executive of BlackRock (BLK), offered the most damning assessment, likening bitcoin to an "index of money laundering."
Related Stories
Latest News
Top news around the world
Russo-Ukrainian War

The Russo-Ukrainian War has been ongoing between Russia and Ukraine since February 2014.

Russia's war in Ukraine has proven almost every assumption wrong, with Europe now wondering what left is safe to assume.

Around the World

Celebrity News

> Latest News in Media

Watch It
Madonna’s most bizarre TikTok and Instagram videos of 2022 | Page Six Celebrity News
December 30, 2022
Ggk_RlohXuI
Teresa Giudice and Luis Ruelas stand by sex multiple times a day: It’s ‘normal’ | Page Six
December 30, 2022
AljKbtgRGnc
Lisa Hochstein shared video confronting Lenny Hochstein & girlfriend at Miami club #shorts | PageSix
December 30, 2022
j_JVk60r6EI
'Channel 5' Creator Andrew Callaghan Talks BTS of 'This Place Rules' Documentary Feature
December 30, 2022
dJit_YG5fjg
#brendanfraser on getting jacked to play 'George of the Jungle' after 'Airheads" with #adamsandler
December 30, 2022
bkwreE4eMRQ
Selena Gomez, Ryan Gosling and Julia Fox Top the List Of Variety's Best Red Carpet Moments Of 2022
December 29, 2022
pv2A-331cLg
Wiz Khalifa Joins Neek Bucks For Upcoming 'Shot Caller' Video | TMZ
December 26, 2022
TxkRr1jj-gk
Andrew Zimmern Says TikTok Recipes Need to Stop This Holiday Season | TMZ
December 26, 2022
DdlO88KfJoY
Top 7 WTF Moments of 2022 | TMZ
December 26, 2022
3JA-5abr6A4
Most HIGHLY ANTICIPATED Movies of 2023 | E! News
January 01, 2023
3-1K1VSRjys
22 Pop Culture Moments That Defined 2022: Link in Comments! #shorts | E! News
December 31, 2022
MNnChuudoSA
Suspect Charged With Murder in Idaho College Killings | E! News
December 31, 2022
aeonRlI5xL0
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
01
Jan
ENGLAND: Premier League
Tottenham Hotspur - Aston Villa
01
Jan
ENGLAND: Premier League
Nottingham Forest - Chelsea
01
Jan
ENGLAND: Championship
Coventry - Bristol City
01
Jan
ENGLAND: Championship
Blackburn - Cardiff City
01
Jan
ENGLAND: Championship
Huddersfield - Luton
01
Jan
ENGLAND: Championship
Millwall - Rotherham
01
Jan
ENGLAND: Championship
Blackpool - Sunderland
31
Dec
ENGLAND: Premier League
Manchester City - Everton
31
Dec
ENGLAND: Premier League
Wolves - Manchester United
31
Dec
ENGLAND: Premier League
Brighton - Arsenal
31
Dec
SPAIN: La Liga
Barcelona - Espanyol
31
Dec
SPAIN: La Liga
Real Sociedad - Osasuna
31
Dec
ENGLAND: Premier League
Bournemouth - Crystal Palace
31
Dec
ENGLAND: Premier League
Newcastle United - Leeds
31
Dec
ENGLAND: Premier League
Fulham - Southampton
31
Dec
SPAIN: La Liga
Villarreal - Valencia
30
Dec
SPAIN: La Liga
Real Valladolid - Real Madrid
30
Dec
ENGLAND: Premier League
Liverpool - Leicester City
30
Dec
ENGLAND: Championship
Birmingham - Hull City
30
Dec
ENGLAND: Championship
Stoke City - Burnley
30
Dec
ENGLAND: Championship
Norwich City - Reading
30
Dec
ENGLAND: Premier League
West Ham United - Brentford
30
Dec
ENGLAND: Championship
Swansea City - Watford
30
Dec
SPAIN: La Liga
Celta Vigo - Sevilla
30
Dec
SPAIN: La Liga
Cadiz - Almeria
30
Dec
SPAIN: La Liga
Getafe - Mallorca
29
Dec
SPAIN: La Liga
Atletico Madrid - Elche
29
Dec
ENGLAND: Championship
West Bromwich Albion - Preston NE
29
Dec
ENGLAND: Championship
Blackpool - Sheffield United
28
Dec
ENGLAND: Premier League
Leeds - Manchester City
27
Dec
ENGLAND: Premier League
Manchester United - Nottingham Forest
27
Dec
ENGLAND: Premier League
Chelsea - Bournemouth
26
Dec
ENGLAND: Premier League
Arsenal - West Ham United
26
Dec
ENGLAND: Premier League
Brentford - Tottenham Hotspur
26
Dec
ENGLAND: Premier League
Aston Villa - Liverpool
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.