Branch of the St. Louis Federal reserve system (FSS), the United States — in other words, the U.S. Central Bank added to its database the four price charts of cryptocurrencies.
Extensive research data base “of Economic data the Federal reserve” (FRED), which oversees the office of St. Louis, now includes information on the price of bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the leading cryptocurrency indicators presented in 2014.
It should be noted, the source of daily updated data — cryptocurrency exchange Coinbase. Given that the exchange recently added to the listing Ethereum Classic (ETC), it is likely that the dynamics of the course of bitcoin soon also will be tracked in the database FRED.
It is noteworthy that such a move was not a surprise: the Department of St Louis has always been distinguished proactive stance on the cryptocurrency — and it concerns not only technologies but also the new class of assets.
Thus, the Manager of the branch, James Bullard (James Bullard) even became a member of the crypto 2018 Consensus conference, held in new York in may. It cannot be said that his position was quite bullish, however, in his comments, he imagined a future in which cryptocurrencies play an important role. According to him, the problem is that a huge number of cryptocurrencies may lead to a return to the “heterogeneous currency system” that existed in the past century.
“Cryptocurrency can inadvertently move in the wrong direction trying to solve an important social problem, namely, how best to promote market exchange,” said Bullard.
Moreover, the Separation of St. Louis have published an article in which it was mentioned that bitcoin is in fact not so different from “normal currency” like the U.S. dollar. In particular, it was pointed out that both currencies are not backed by any physical asset, have a maximum output and that may be somewhat surprising, decentralizovanno here in relation to the dollar, it is about the cash flow that, in General, involves a certain degree of anonymity.
However, representatives of other departments of the FSS, mainly do not share the positive attitude of their colleagues from St. Louis.
So, Raphael Bostic (Raphael Bostic), who heads the Federal reserve Bank of Atlanta, in a recent speech, warned the young people from investing in crypto currencies, comparing them with Souvenirs like Beanie Babies, the demand for which is caused by the hype.
President office of the Minneapolis Neil Kashkari (Neel Kashkari) is thinking in the same vein: in may, he said that the cryptocurrency market “has become a farce”, while the technology of the blockchain “perhaps more interesting and has more potential” than the leading cryptocurrency.
Another example of the Federal reserve Bank of San Francisco, submitted a report according to which the true value of bitcoin is equal to $1800, that in proportion to the cost of mining bitcoins. Reportedly, the Bank’s specialists came to such conclusion, considering bitcoin’s parameters are similar to those used for commodities — gold and oil.
Despite the fact that representatives of the state banks, for obvious reasons, more criticize existing digital currency, many recognize the value of technology, on which it is based, including the former Chairman of the FSS Chairman Ben Bernanke (Ben Bernanke).
On the other hand, some other countries consider that to praise the technology prematurely: Central Bank of the Netherlands considered the blockchain while inefficient for payment systems in the country, “not Mature enough” technology according to the Central Bank of the Russian Federation.
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