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“Lightning may strike me for saying this in the Tower of Basel — but bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea,” the executive board member said.
“I believe that Agustín Carstens summed its manifold problems up well when he said that bitcoin is ‘a combination of a bubble, a Ponzi scheme and an environmental disaster’.
”Bitcoin came into being in the months following the autumn 2008 collapse of Lehman Brothers and has capitalised in the distrust in governments and currencies backed by states.
Full article on Financial Times (subscription required)