On CNBC Monday, former Goldman Sachs CEO Lloyd Blankfein pooh-poohed bitcoin’s “store of value” and “medium of exchange” plans, stressing that if the cryptocurrency ever expanded to a large scale, it would definitely be shut down by regulators.
“If I were a regulator, I’d be, you know, I would be kind of hyperventilating at the success of [bitcoin] at the moment and I’d be arming myself to deal with it,” Blankfein said.
As coindesk.com reported, Bitcoin investors have no way of knowing if enemy states such as North Korea and Iran are counterparties to their transactions, the finance executive said. He then apparently implied that there was no way to track Bitcoin transfers, totally lacking the inherent traceability of the cryptocurrency.
The effectiveness of Bitcoin at weathering the impending storm of the regulator may serve to undermine its most attractive attributes, Blankfein said.
