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Several of Europe's top finance officials have expressed skepticism about virtual currencies such as bitcoin, saying they are risky for investors and inefficient as a way to pay for things.Germany's top monetary official, Jens Weidmann, said in a speech Wednesday that virtual currencies such as bitcoin are not good means of payment because their values fluctuate so rapidly. Weidmann, who heads Germany's national central bank and sits on the governing council of the European Central Bank, the issuer of the euro, added that virtual currencies are no substitute for conventional money.Weidmann's remarks follow a series of statements from top European officials warning banks and consumers about virtual currencies.Last week, top European Central Bank official Yves Mersch said that central banks were concerned about the social and psychological effects the currencies seem to have.
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