During the ongoing World Economic Forum in Davos cryptocurrency enthusiasts and leaders of cryptocurrency industry said that they are pessimistic about the future of Bitcoin and insisted that Bitcoin will never be more as important for financial industry as fiat currency.
For example Joseph Stiglitz, a well-known American economist, Nobel Prize winner and a professor at Columbia University commented
“We have a good medium of exchange called the dollar. We can trade in that. Why do people want bitcoin? For secrecy,” he said.
Swiss National Bank chairman Thomas Jordan was also in favor of serious limitation on how Bitcoin can be used.
“There is an important principle: Similar activities should be similarly regulated,” he told listeners, “and Bitcoin and other cryptocurrencies have some characteristics of other investment instruments.”
“You can’t, on the one hand, heavily restrict cash and on the other hand permit fully anonymous instruments that to a great extent can be used for all manner of transactions.”