ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Bitcoin Too Small To Threaten Global Economy, Says Bank of England Deputy Governor




The BoE’s deputy governor says that bitcoin’s market capacity is too small to pose a significant threat to the global economy.

Not long after the value of bitcoin passed the historic $10,000 mark, Sir Jon Cunliffe, the deputy governor of the Bank of England (BoE), told BBC Radio 5 Live that the cryptocurrency's market capacity is "not at a size where it's a macroeconomic risk to the global economy."

He added that, considering the token's volatility, potential investors would be well-advised to "do their homework" before purchasing any bitcoin, which, he said, is "much more like a commodity" than a currency, considering its lack of central bank backing.

In September, European Central Bank vice president Vítor Constâncio reported that he and his colleagues "don't see it as a threat to central banking or monetary policy, that's for sure." His perspective also aligned with Cunliffe's on the count that bitcoin is "certainly not a currency."

The BoE recently hosted a FinTech accelerator that, among other things, explored certain implications of distributed ledger technology (DLT), of which Andrew Hauser, the bank's executive director for banking payments and financial resilience, said, "the attraction of DLT to central banks" has to do with the fact that the "failure of a node has no impact on the overall resilience of the system." 

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Bank of England, bitcoin or other Ethereum business and finance news.