Bank of England deputy warns Bitcoin could become worthless
The Bank of England has warned that Bitcoin could become "worthless." The cryptocurrency - which is sent to users via a peer-to-peer network and therefore has no centralised bank or administrator - was recently valued at £35,679 per 1 bitcoin, but the Bank of England's deputy governor has now warned their value could drop to "zero." Sir Jon Cunliffe told the BBC: "Their price can vary quite considerably and [Bitcoins] could theoretically or practically drop to zero." The diplomat - who was former Prime Minister Gordon Brown's Advisor on International Economic Affairs - explained that the point...