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RBA warns bitcoin is a ’speculative mania’, talks down chances of electronic Australian dollar

The Reserve Bank governor has talked down the chances of a Government-issued cryptocurrency, despite a massive increase in electronic transactions.

RBA warns bitcoin is a ’speculative mania’, talks down chances of electronic Australian dollar
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In a speech in Sydney, Dr Philip Lowe said the major cryptocurrencies are not very effective as a way to pay for things, with high transaction costs, including the massive amounts of energy needed to "mine" them.

Read the full article on ABC Online.

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