The Central Bank of Australia is "whistling past the graveyard" in this position paper which they issued concerning Bitcoin and crypto-currencies. Bitcoin represents an existential threat to fiat currency issued by any of the Central Banks. This is so because they mode of value of for any fiat currency is monopoly of issuance and use enforced by legal tender and ultimately men with guns.
The Central Bank of Australia is "whistling past the graveyard" in this position paper which they issued concerning Bitcoin and crypto-currencies. Bitcoin represents an existential threat to fiat currency issued by any of the Central Banks. This is so because they mode of value of for any fiat currency is monopoly of issuance and use enforced by legal tender and ultimately men with guns.
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