{"id":27620,"date":"2020-08-24T11:29:41","date_gmt":"2020-08-24T08:29:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27620"},"modified":"2025-08-26T22:06:23","modified_gmt":"2025-08-26T19:06:23","slug":"imf-video-on-cryptocurrencies-draws-criticism-from-the-community","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/imf-video-on-cryptocurrencies-draws-criticism-from-the-community\/","title":{"rendered":"IMF video on cryptocurrencies draws criticism from the community"},"content":{"rendered":"<p>The International Monetary Fund (IMF) published a two-year-old video about cryptocurrencies, drawing criticism from the community.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">What are cryptocurrencies? <a href=\"https:\/\/t.co\/ggONlLkA2r\">https:\/\/t.co\/ggONlLkA2r<\/a> <a href=\"https:\/\/t.co\/yYpj3Jf37E\">pic.twitter.com\/yYpj3Jf37E<\/a><\/p>\n<p>\u2014 IMF (@IMFNews) <a href=\"https:\/\/twitter.com\/IMFNews\/status\/1297640002604527621?ref_src=twsrc%5Etfw\">August 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a two-minute video, <a href=\"https:\/\/www.youtube.com\/watch?v=NDetuRLQso8\" target=\"_blank\" rel=\"noopener noreferrer\">released<\/a> back in June 2018, cryptocurrencies are described as the next step in the evolution of money. It does not mention the names of any particular coins, the blockchain technology underpinning cryptocurrencies, or mining. Bitcoin, Ethereum and Ripple appear only in illustrations of cryptocurrency transactions.<\/p>\n<p>The risks cited by the video include \u201ctransaction anonymity.\u201d<\/p>\n<p>Representatives of the community noted a number of inaccuracies and omissions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Provable scarcity is what makes Bitcoin interesting, you forgot to mention that.<\/p>\n<p>\u2014 PierreRochard.com (@pierre_rochard) <a href=\"https:\/\/twitter.com\/pierre_rochard\/status\/1297646505898250240?ref_src=twsrc%5Etfw\">August 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cProvable scarcity is what makes Bitcoin interesting; you forgot to mention that,\u201d noted Kraken strategist Pierre Rochard.<\/p>\n<\/blockquote>\n<p>Blockstream Chief Strategy Officer Samson Mow noted several inaccuracies in the video and added that anonymity is a feature, not a problem.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Then they talk about the \u201cproblems\u201d of anonymity and untraceability. Those are features, not bugs. If they\u2019re worried about \u201cbad guys\u201d making transactions, then they want a centrally controlled money.<\/p>\n<p>\u2014 Samson Mow (@Excellion) <a href=\"https:\/\/twitter.com\/Excellion\/status\/1297658515054460928?ref_src=twsrc%5Etfw\">August 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his view, Bitcoin has already taken the next step in the evolution of money, so the wording \u201ccould be the next step\u201d is incorrect.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u201cThis could be the next step in the evolution of money.\u201d<\/p>\n<p>No, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> already took that next step. By not talking about Bitcoin and educating people, you\u2019re just keeping them bound to fiat in a new format.<\/p>\n<p>\u2014 Samson Mow (@Excellion) <a href=\"https:\/\/twitter.com\/Excellion\/status\/1297658523367555073?ref_src=twsrc%5Etfw\">August 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cNo version of this technology from you will change anything for people, and it will be a centralized currency with mass surveillance.\u201d<\/p>\n<\/blockquote>\n<p>Another Reddit user under the handle nanooverbtc drew attention to a number of factual inaccuracies in the IMF video.<\/p>\n<blockquote>\n<p>\u201cThey made so many mistakes, for example they called private keys passwords,\u201d he writes.<\/p>\n<\/blockquote>\n<p>Earlier in August, Grayscale Investments <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-investments-launches-tv-advertising-for-crypto-trusts\">launched<\/a> an advertisement on American TV promoting the firm\u2019s cryptocurrency investment products.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) published a two-year-old video about cryptocurrencies, drawing criticism from the community.<\/p>\n","protected":false},"author":1,"featured_media":27621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[755,1269,204],"class_list":["post-27620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-community","tag-cryptocurrencies","tag-imf"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27620"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27620\/revisions"}],"predecessor-version":[{"id":27622,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27620\/revisions\/27622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/27621"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}