These virtual “currencies” are unregulated digital money and are not issued, or guaranteed, by any central bank. During the year, the Bank  BIS central bankers’ speeches  13  issued an Advisory, cautioning the general public to exercise utmost diligence when dealing with virtual “currencies”.
As a result of the adjustment strategy, the real value of wages, pensions and savings declined sharply and wealth was transferred from creditors to debtors. Money illusion blurred the perception of the adjustment costs and of the fundamentally unbalanced burden-sharing.