BTC Failed as a Currency, Bank of England Head Says

According to Mark Carney nobody uses Bitcoin as a medium of exchange
20 February 2018   565

The head of the Bank of England, Mark Carney, believes that to this day, bitcoin has not been able to prove that it is a full currency in the conventional sense of the word, since it can not effectively perform the function of either a means of accumulation or a means of exchange.

During the speech at a closed event at the London University of Regents, the head of the central bank told students that bitcoin does not meet two basic criteria, without which it can not be called a currency.

It has pretty much failed thus far on... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange. A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period.
 

Mark Carney

Governor, Bank of England

Carney's comments will hardly surprise anyone, as they almost repeat the statements of other representatives of central banks and various figures from Wall Street almost word for word.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   100

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.