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“UBS Chairman: Bitcoin Currency Will Fail, Has No Lender of Last Resort” – Finance Magnates | $330.91

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Alexander Reed

Last updated on: 2 January 2018

Fact Checker

Intuitively, bitcoin’s shortcomings as a currency thus far would stem from issues like the absence of government backing, low interest from the broader public and high volatility. Weber approached it from a different angle, essentially saying that bitcoin cannot by printed by governments in times of need- a morally repugnant notion for many hardline Bitcoiners.

“Private currencies will fail to take off because there is no lender of last resort- there will always be boom and bust,”

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Alexander Reed

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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