Why do Banks Hate Bitcoin?
Many banks hate Bitcoin and are feeling threatened by the new digital cryptocurrency. Coindesk recently wrote an article about Dutch Bank Rabobank. The context was the same as many articles before that have and have not made it to more major media outlets: Bitcoin businesses guillotined by banks around the world. Rabobank has blocked transfers of fiat to Bitcoin exchanges in the past for individuals, not just businesses. Rabobank even had days when all attempted online transfers to domestic Bitcoin Exchanges were met with a technical error. Two websites in the locality have since spread....
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Why Do Banks Hate Bitcoin? Banks have been a part of our society for so long that we have forgotten what exactly they do. We think of them as bastions of security and stability. They hate Bitcoin because of it's inherent instability, right? Wrong. There is more to this than meets the eye. Economists are now asking the question: Do we need banks? The answers they are coming up with is somewhat surprising. There is a misunderstanding out there, of the role of banks today and, in particular, where all the money they loan out, comes from. The Bank of England recently published a paper called....
Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies. “I hate how central banks are destroying our money and economy … cryptos are another new and innovative way to counter this that should be encouraged,” he said. ‘Mad Max’ Supports Bitcoin and Crypto Maxime Bernier, the leader and founder of the People’s Party of Canada (PPC), has revealed his support for bitcoin and cryptocurrency. He is a former Canadian foreign....
The Federal Reserve Bank of St. Louis recently held a "Dialog with the Fed" on bitcoin basics. The events are "designed to address the key economic and financial issues of the day and to provide the opportunity to ask questions of Fed experts." The discussions, which began in the fall of 2011, are held at the St. Louis Fed and its branches, and are free and open to the public. All discussions and presentations are archived. While the event was broadcast, video is not up yet. However, the slide deck is, and it's surprisingly funny and insightful. It goes through some basic elements of....
Two competing Bitcoin forums on popular social media website strike a startlingly different tone when it comes to one of the most popular and influential corporations in the Bitcoin industry: Coinbase. Bitcoiners like to express disdain for leading Bitcoin wallet service and exchange Coinbase on r/Bitcoin, the Bitcoin forum moderated by the controversial administrator Theymos, who faces criticism for censorship. R/btc, which sprouted as an alternative to r/bitcoin, strikes a more positive tone when it comes to the San Francisco startup. On Reddit, where Bitcoiners love to engage in lively....
Typical Latin America. The region as a whole is having a love/hate relationship with cryptocurrencies. On the one hand, apparently, crypto remittances in Brazil, Argentina, and Venezuela grew 900% last year. On the other, Mexico and Peru’s Central Banks are actively working in their CBDCs. Which way will the scale tip? The jury’s still out […]