The beginning of the bitcoin end

Ah Bitcoins: In addition to being a disastrous idea, experiencing recent crashes and fraud, the EFF has now decided that they “…don’t fully understand the complex legal issues involved with creating a new currency system.” and didn’t want to be construed as endorsing the system.

In other news, despite assurances to the contrary, I wouldn’t want to hold Greek-stamped Euros.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.

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  1. Surely that only matters from an aesthetic point of view; isn’t the minimum value of a 10 Euro note, the value for which it can be exchanged at the European Central Bank, minus the cost of actually having to do that? If this were not the case, then wouldn’t want to hold ANY euros.

    1. Simon – read the link and think through the ramifications of practically leaving the Euro. There is also historical precedent for this. But in other ways, yes, you’re right since it weakens the credibility of the ECB.

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