Bank of England Governor Claims Bitcoin Has ‘Failed’ As A Currency239.44

Bank of England Governor Mark Carney declared that Bitcoin cannot be considered a legitimate currency by "Traditional" definitions, The Telegraph reported Monday, Feb. 19.At an event at London's Regent's University, Carney claimed that Bitcoin failed to meet two major requirements of a traditional currency, claiming that Bitcoin is neither a means of exchange, nor a store of value. The argument that cryptocurrencies are not ideal for use as a medium of exchange is usually made in regards to Bitcoin in particular. On Jan. 24, 2018 major payment processor Stripe stopped support for Bitcoin because of high fees and slow confirmation times. Earlier on Dec. 7, 2017 gaming platform Steam stopped accepting Bitcoin payments, citing transaction fees of up to $20 and high volatility.
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