Central Bank of Ireland Warns of Bitcoin Risks
Not terribly long following the debut of Ireland's first Bitcoin ATM at the Hippety's Café in Dublin's Temple Bar district comes a warning from the Central Bank of Ireland on the perils of getting involved with bitcoin and other digital currency, according to an Independent.ie report. The central bank's sentiments echo what other monetary authorities from around the world have been saying for months now. Users who purchase digital currency from these so-called 'bitcoin vending machines' and by other means are unable to receive the same protections available to those using regulated....
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Unfortunately, this appears to be another way of ending cash in Ireland. The war on cash waged by governments and central banks is in full effect as of right now. Ireland’s Central Bank plans to dispense more 10 and 20 euro banknotes through ATMs. Although that may sound like an innocent decision, it is a significant step towards getting rid of high-denomination banknotes. Officially, the bank sees this move as a way to make lower denomination notes “more accessible.” It is apparent the Central Bank of Ireland has a clear plan in mind. Banks are forced to issue lower denomination banknotes....