BTC warning issued by Lithuanian Central Bank

I will translate this short message to english.

"Bitcoin users must be very careful, this currency is not regulated by European Union or Lithuanian law. Bitcoin usage is not licensed, and users aren't protected. Because this type of currency is created and controlled by anonymous people or groups of people which aren't regulated. So this leads to the risk that "creators" of bitcoin can disappear with all people's money."

Vilnius Šapoka - Lithuanian central bank

The full article in lithuania: http://www.15min.lt/naujiena/verslas/finansai/lietuvos-bankas-perspeja-virtualiu-valiutu-naudojimo-niekas-nepriziuri-ir-nereguliuoja-662-402420#ixzz2rzRTUBE0

  • Darius
  • January 31, 2014, 10:34 am
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  • 3

    For anyone who wants to know what bitcoins actually are, how they're owned, and how they're transferred:

    http://preshing.com/20140127/what-is-a-bitcoin-really

    Reply
  • 1

    Fools.

    • reverb
    • January 31, 2014, 11:21 am
    Reply
  • 1

    Just to be clear; Bitcoin is specifically designed so that the creators CAN'T run away with all the money, like, say, a central bank could *cough*

    Reply
  • 1

    I rather bet that Lithuanian Central Bank would go bankrupt. Euro as well as dollar and other fiat currencies undergoing though inconspicuous phase of "soft devaluation". Bitcoin is great money!

    Reply
  • 1

    increasingly tighter regulatory environment. http://j.mp/1cDr5AH

    Reply
  • 1

    I'm still really skeptical about E-currencies, it seems like they can be destabilized by another E-currency pretty easily, seems like other E-currencies can be created to compete or destabilize with the others, and while there is a finite amount of the currencies I'm still confused about what its intrinsic value actually is so it seems like a mixed bag like any other fiat currency.

    Reply
  • 1

    You guys never hear of argentina's 2001 rigth?? That happen with DOLARS

    • elsimo
    • January 31, 2014, 11:50 pm
    Reply
  • 1

    Bitcoin is a distributed system with miners all over the world verifying transactions constantly. There is no centralized vault and there is no creator.

    • pneudog
    • February 1, 2014, 8:26 am
    Reply
  • 1

    This article is a joke. Just another member of the financial services industry showing just how stupid he is. Nothing new to see here.

    I feel comfortable with Bitcoin, not paper money, or "money" that got typed into a computer somewhere. There's a reason why Bitcoin value and buying power is rising, while US Dollar and other paper currency value and buying power is declining.

    It's because of idiots, like the ones at the Lithuanian Central Bank.

    • kazrar
    • February 2, 2014, 6:29 am
    Reply
  • 1

    Fuck money, i barter!

    Reply
  • 1

    This type of info serves a good purpose. keeps BTC from overheating, allowing real players to establish themselves before the big money comes in and fucks it up. The more stupidity and fear about bitcoin out there, the more controlled and gradual the aceptance will be, and the more chance internet-savvy / non-govt types will have to solidify core freedom and autonomy precepts in it. Hear hear! More bad journalism!

    • mathx
    • February 6, 2014, 12:28 am
    Reply
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