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Bitcoin Very Clearly in a Bubble, Says SocGen’s Cabannes



Nov.03 — Severin Cabannes, deputy chief executive officer at Societe Generale, speaks with Bloomberg’s Caroline Connan about bitcoin as he believes the cryptocurrency is in a bubble.

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Written by frances

Lawyer, Believer, Idea Agent, Database Wrangler, Human Casserole. I want to see your peacock.

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  1. Bitcoin has a natural efficiency and its in sync with time perfectly so no need for Fed levers as it self regulates
    How it works with time and inputs is prefect there has never been anything like it

  2. “We are not really very keen to invest in the bitcoin, but we are very keen to invest in the blockchain technology”. This is a very telling comment.
    Translation – "We do not want to see bitcoin succeed because we do not want the banking industry to lose control of money, the very source of power (oh, no no no no! Can't have that now, can we). But what we want is the blockchain technology so that the banking industry can finally at long last turn all paper and coin money into virtual money which is our ultimate dream because then we can prevent bank runs (which can cause banks to collapse) when the economy periodically collapses because then bank clients will never be able to withdraw their money. That will assure the future of our criminal-under-the-auspices-of-the-law banking industry".
    So what I believe the banking industry wants is to destroy the independent virtual currency vendors and just leave the blockchain technology. I believe they will do this by using this time tested strategy – "If you can't beat them, then join them" and then simply take them over from within.
    Folks, this is the future the banking industry are planning for us.

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