Could this be the end of Bitcoin?

http://www.telegraph.co.uk/finance/...e-the-next-internet-says-Bank-of-England.html

Thoughts on this if it were to happen?

 

highly doubt it, infact I think that it will raise the price up a bit

 

One of bitcoins drawing factors is the fact that it is decentralized. Bitcoin is already somewhat established in the market place (it still has a long way to go however). A bank might be able to make their digital currency, however it cannot compel people to use it as a media of exchange. It will take years for a bank to be able to successfully establish a competing media of exchange, but it will be well behind bitcoin in terms of having a stable position in the market. In fact, the existence of other centralized digital currencies might actually increase the demand of bitcoin since people who were not aware of digital currencies are now aware of them, and may then seek to opt for bitcoins as opposed to their own countries digital currency.

Although I do find it funny in the article how they are considering using an inherently deflationary currency as a weapon against the 'problem' of deflation. If digital currencies get picked up at a rapid pace and people forgo fiat, there is actually a chance that hyperinflation among fiat currency may occur.

 

Articles like this show up everyday, I wouldn't lose sleep because this.

 

I was reading and thought this actually benefits bitcoin, not devalues it. Unless it's some thinly disguised attempt at a panic.

 

Take that article with a grain of salt.

 

I don't think this will devalue BTC but it will increase it's price by a good chunk.

 

yea i can't see this devaluing BTC

 

I think that Bitcoin can only be so powerful, and I think it has already reached that peek.

 

i doubt it's reached its peak, but we'll see.

 

I've never been a fan of bitcoin, always thought it would die out sooner than later.

 

realy sad btc going down allot

 

Its not actually, its been rising, your join date and post count make me think this was a thoughtless post just to raise pc...

 

Its @ $275 what are u guys smoking.


If anything its stable/raising.

 

intial hype just as valid as smoke in the air. nothing to worry about boys

 

I'm not that big of a fan of BTC because there's definitely improvements to be made. And something as important to the world as currency should not need improvement. But anyway I think there is nothing to worry about, I imagine people (myself included) have more faith in BTC than government/banks.

 

As the owner of 30btc I'm not scared.
btc always will change its value.
it will raise and it will lower.
it's an gamble

 

It just went from £140-190 in like 3 weeks.

 

That is nothing. I remember when it went from $1000 to $300 in about the same time. I believe it's about to an equilibrium if not high.

 

ill be the happiest man in the world if it hits $1k again at any point in time.