Mark Mobius: Psycho Currencies

Mark Mobius Money Quote saying cryptocurrencies are dependent on faith and it could label believers as crazy – however the same belief is required of fiat currency. Mark Mobius said:
 

Mark Mobius Money Quote
 

“You have all these currencies, new currencies coming into play. I call them ‘psycho currencies,’ because it’s a matter of faith whether you believe in Bitcoin or any of the other cyber-currencies” — Mark Mobius

In this quote, Mark Mobius is characterizing some cryptocurrencies like Bitcoin as “psycho currencies” or currencies based more on faith than tangible financial fundamentals. By using the term “psycho,” Mobius seems to be implying that the value of these digital assets is highly dependent on market sentiment and collective belief/hype in their potential, rather than traditional economic analysis.

He appears to be suggesting that whether one chooses to invest in cryptocurrencies is as much a subjective question of personal conviction as an objective assessment of their merits, since their value is still largely unproven and experimental in nature.

Overall, the quote conveys Mobius’ perspective that cryptocurrencies derive their worth more from whether people have enough confidence and conviction in their long-term viability, making their value at least partially a matter of individual “faith” in their future rather than established economic realities.

Bloomberg News Video

Christine Lagarde: Central Banks Digital

Christine Lagarde Money Quote saying as Director of IMF, that people may ask banks to provide stable on reliable cryptocurrencies if private forms don’t stabilize. Christine Lagarde said:
 

“If privately issued virtual currencies remain risky and unstable, citizens may even call on central banks to provide digital forms of legal tender” — Christine Lagarde

Christine Lagarde said that citizens may call on central banks to provide digital forms of legal tender if privately issued virtual currencies remain risky and unstable.

Central banks providing digital currencies could offer citizens a safer and more reliable payment option compared to private cryptocurrencies that are volatile in value.

Some of the reasons citizens might want this are for stability of payments, security of funds, and usability of money in both online and offline transactions.

Christine Lagarde: Prefer Virtual Currencies

Christine Lagarde Money Quote spoke as director of the International Monetary Fund (IMF) that people may want the option to use cryptocurrency because it is similar to cash. Christine Lagarde said:
 

“Citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities” — Christine Lagarde

Christine Lagarde says people may prefer virtual currencies to cash because they offer some of the same benefits as cash, according to the article.

Specifically, virtual currencies like cryptocurrency potentially offer the same low costs and convenience as cash, without the drawbacks of cash like settlement risks, clearing delays when making transactions, and the need for intermediaries to verify accounts and identities.

So in summary, Lagarde believes virtual currencies could be as easy and inexpensive to use as cash, without certain transactional problems associated with physical money.

Dan Schulman: Fintech Trends for Growth

 
Paypal CEO Daniel Schulman Money Quote saying every form of consumer financial activity is going digital and transforming all aspects of transactional commerce. Daniel Schulman said:
 

 

“Currencies of all kind are digitizing, checks are disappearing although 85% of the worlds transactions are still in cash, they’re increasingly digitizing. So you’ve got money in general digitizing and whether that be in the form of cards, digitized or actually currency itself will start to digitize as well” — Dan Schulman

Dan Schulman is quoted as saying that currencies of all kinds are becoming digital. He means that money is increasingly being used and transferred in digital forms rather than physical cash.

Schulman notes that while 85% of transactions globally are still done with cash, money is rapidly being digitized through things like debit and credit cards, digital payment apps, and cryptocurrencies.

His point is that all aspects of commerce involving the exchange of money are becoming transformed as currencies move from physical to digital formats.

Evgeny Kaspersky: Cryptocurrency Banned?

Evgeny Kaspersky Money Quotation saying regulation of cryptocurrency will not happen until it affects government control of revenue, then it will become illegal. Evgeny Kaspersky said:
 

 

I am more than sure that different countries will take turns to prohibit the use of cryptocurrency because they can’t control it. As long as they do not interfere, authorities won’t pay attention. Once [cryptocurrencies] begin to displace the national currencies – they will be immediately banned” — Evgeny Kaspersky

In this quote, Evgeny Kaspersky provides his perspective on how various governments may react to cryptocurrencies in the future. He believes that as long as cryptocurrencies do not directly challenge or displace national fiat currencies, most authorities will take a hands-off approach and not interfere with their use.

However, Kaspersky predicts that once cryptocurrencies start to significantly undermine government control over monetary systems and begin replacing official currencies, different countries will then sequentially ban them in turn.

His view suggests that while cryptocurrencies are still in their relative infancy, governments will tolerate them – but once they attain a scale where they diminish state power over currency, outright prohibitions will be swiftly enacted.

Kaspersky appears to be warning about potential crackdowns as cryptocurrencies grow in adoption and economic importance.