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

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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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Ofir Beigel

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Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

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