Big Banks Want to Destroy Bitcoin Before it Destroys Them
It seems as if the talk of “the people’s currency” has started to sting the ears of those who traditionally have a monopoly of money, banks and governments. Recent negative statements by big banks, and governmental crackdown on digital currencies and ICOs can be seen as fightbacks by these institutions to the growing popularity of Bitcoin. Bitcoin always has had the potential to be a new currency free of control by big banks and governments, but as adoption has spread, the threat has become real. Limiting its potential It should not be seen as surprising that banks, such as JP Morgan, are spilling vitriol and rhetoric about Bitcoin being a ‘fraud’ Bitcoin reaching mass adoption and succeeding spells the end for big banks and traditional financial institutions. The same goes for governments. A decentralized currency takes a huge amount of power out of the hands of the government who look to keep tabs on currency within their borders. Taxes and regulations of money is a po