Bitcoin Gets Bulls-Eye Painted on It, Thanks to Banks and Governments
Bitcoin, since its introduction in 2009 has come a long way to compete against US dollar and other prominent fiat currencies of the past. Banks and financial institutions who were the gatekeepers of everyone's wealth now feel threatened as they find themselves powerless in front of the new digital currency. Bitcoin is completely independent and pseudonymous, taking central bank and other government organizations out of the picture. As if that is not enough, there is no single entity that controls bitcoin. The decentralized nature combined with security, speed and low costs of transaction....
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Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says central banks and governments are “way behind the curve” in regulating cryptocurrencies. He added that officials throw out the idea of having central bank digital currencies (CBDCs) “to distract the conversation.”
Harvard’s Professor on Cryptocurrency Regulation
American economist Kenneth Rogoff discussed cryptocurrency regulation and central bank digital currencies (CBDCs) in an interview with Bloomberg Monday. Rogoff is the....
Bitcoin is the symbol of financial liberation. It can limit the control governments and central banks have on everyone's hard earned money. Money is the driving force of life in today’s world. Those who do not agree and say money can’t buy everything, it is time for them to revisit the age-old psychological theory established by Abraham Maslow. The Maslow’s pyramid, also known as Maslow’s hierarchy shows the fundamental needs of humans and how it will contribute towards their self-actualization. One look at the pyramid is all it takes to realize that without money, there is no way one can....
Amongst the fundamental values of crypto, an important point is having financial freedom for all. Crypto is meant to be an unbiased tool, untied to the strings of governments and banks, a tool against oppression and authoritarianism. If your money can be taken away from you by regimes and governments, is it truly your money? […]
Bitcoin is the future of global economy' is the mantra for many bitcoin enthusiasts. The potential of bitcoin as a global currency, replacing existing fiat currencies has been widely covered by many publications, including NewsBTC. Considering the scenario, many people are automatically led to believe that the Central Banks and governments are opposed to this idea and they are doing all they can to prevent bitcoin's global dominance. However, a closer look shows that the belief might not be entirely true. While few banks and governments have considered and even openly declared that they....
Banks and governments are warming up to the possibility of leveraging the power and resiliency of the blockchain to implement smarter financial systems that permit faster and cheaper local and global transactions, permanently recorded in a tamper-proof blockchain. At the same time, financial institutions and states find some aspects of Bitcoin worrisome. One concern is that the Bitcoin network relies on anonymous miners to validate transactions. This concern is addressed by various concepts and implementations of "permissioned blockchains" that are popping up, which would offer the....