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European bankers scoff at bitcoin for its risk, huge energy inefficiency
2018-02-14T19:30:06+00:00 - Cyrus Farivar / Ars Technica
His remarks (German) come as other top European bankers are making aligned public statements expressing skepticism about bitcoin and related digital currencies. On Tuesday, the ECB put out a graphic dubbing bitcoin not a currency but a "speculative asset." Carl-Ludwig Thiele, a member of the executive board of the Deutsche Bundesbank, recently slammed bitcoin for being too "energy intensive." "Of all things I would not call bitcoin a currency for this reason and also for another reason. The euro is backed by the European Central Bank, the dollar is backed by the Federal Reserve.

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