Banco de España (BDE) Says Bitcoin Not Effective

Banco de España (BDE) Says Bitcoin Not Effective

A report released by Banco de España (BDE) has expressed their opinion that they have considered Bitcoin (BTC) is not an effective medium-of-exchange (MoE). They explained, “Bitcoin: A solution for payment systems or a solution in search of a problem?”, stated that decentralization requires a “process of intensive validation [which] … consumes [a lot] of resources, [thus] reducing system efficiency.”

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