In an article for Fox News, senior economist Francois Velde of the Federal Reserve Bank of Chicago describes Bitcoin. “Although some of the enthusiasm for Bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration or recourse,” Velde wrote.

via Fed Banker Tries Criticizing Bitcoin, Ends Up Perfectly Describing The Fed – Bitcoin Magazine.