Why Governments Don't Trust Bitcoin
Although bitcoin has slowly been gaining mainstream acceptance among the online community and businesses, it seems that most governments are opposed to the cryptocurrency. For one, the lack of a centralized body or monetary authority overseeing bitcoin exchanges and transactions is seen to be the culprit for the lack of security and the rise in hacking incidents. In line with this, governments are also wary that the absence of any code of conduct or regulations governing the bitcoin industry could result in an unstable financial system. There are plenty of gray lines in this particular....
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In mining we trust. On the side of the US $1 bill it says "In God, we trust". Because money is all about trust. Trust that it's real, trust that it will remain at a similar value for the duration of the transaction at least, trust that the products are represented honestly. In the past trust that the paper was redeemable in gold, and more recently trust that our dollar will be backed by the "full faith and credit of the US Government". And when that trust is lacking society shuts down. To some extent, the crisis of 2008, in the same manner as the one in 1929 was about the lack of trust.....
Bitcoin has been in existence for more than six years already, yet it seems like the system is having a tough time securing the trust of the general public. After all, the cryptocurrency has gained a bad reputation for being used in underground markets and money laundering activities, and it doesn't help that some bitcoin exchanges like Mt. Gox have suffered hacking attacks and have ultimately shut down. While governments and states are trying to come up with legislation to oversee this industry and protect consumers, many are still doubtful that digital currency security can be....
Three weeks ago, Tyler and Cameron Winklevoss announced the formation of a new trust, Bitcoin Water Trust. A trust whose aim is to bring drinkable water to people who do not have access to it. The Winklevoss twins announced the launch of the trust in Miami earlier this year. The unique model for the trust […]
Apple co-founder Steve Wozniak sees bitcoin as mathematical purity, praising its fixed supply. However, he said that governments will never allow it to be out of their control. “If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it,” said the Apple co-founder.
Steve Wozniak Says Governments Will Never Allow Crypto to Be Out of Their Control
Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with Yahoo Finance....
Ahead of the 2017 expectations on the various projects that are likely to be rolled out on the Ethereum platform, the key issue of trust stands out as a recurring feature that makes the network different. Based on the presumption of the new projects and their potential to make the network reach the mass market sooner than most users could imagine, Consensys’ Carolyn Reckhow says Ethereum is going to democratize business logics. Complex transactions. This fact is applicable to the financial world and other industries that have complex interactions between parties that require trust between....