Stacks of computers used for mining bitcoin at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada, on Wednesday, January 24, 2018. Photo: Bloomberg
Stacks of computers used for mining bitcoin at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada, on Wednesday, January 24, 2018. Photo: Bloomberg
Bitcoin

Bitcoin is not real, and any purchase amounts to speculation, says ECB’s ex-chief as he pours cold water on cryptocurrency

  • “The [crypto]currency itself is not real, with the characteristics that a currency must have,” said the European Central Bank’s former president Jean-Claude Trichet, at Caixin’s conference in Beijing
  • An alternative monetary tool to existing currencies is the Special Drawing Rights (SDRs) by the International Monetary Fund, Trichet said

Stacks of computers used for mining bitcoin at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada, on Wednesday, January 24, 2018. Photo: Bloomberg
Stacks of computers used for mining bitcoin at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada, on Wednesday, January 24, 2018. Photo: Bloomberg
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