

Federal Advisory Council on Bitcoin (pages 10-12) - epaga
http://www.federalreserve.gov/aboutthefed/fac-20140513.pdf

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epaga
Choice passages:

> Bitcoin does not present a threat to economic activity by disrupting
> traditional channels of commerce; rather, it could serve as a boon. Its
> global transmissibility opens new markets to merchants and service
> providers. Driving capital flows from the developed to the developing world
> should increase consumption

> Extreme price volatility is similar to other speculative forms of stored
> value, undermining Bitcoin’s credibility. This volatility is likely to
> diminish over time.

