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Bitcoin unstable, too vulnerable to speculation: ECB's Nowotny

A chain of block erupters used for bitcoin mining. Bitcoin transactions are recorded on thousands of computers across the world that maintain logs and validate transactions - technology known as blockchain.


EUROPEAN Central Bank (ECB) governing council member Ewald Nowotny warned against accepting bitcoin as an official payment method, saying the digital currency lacked stability and was too vulnerable to speculation.

Many governments around the world are considering how to...

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