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RE: Why Bitcoin Terrifies Big Banks.

in #bitcoin7 years ago

I doubt the bankers are sitting quietly and waiting for their demise at the hands of some computer code...

Just like their creation of the Banking Cartel of 1913 called the Federal Reserve they will sooner or later attempt a deceptive takeover one way or another of the Bitcoin protocol.. by adding a settlement layer maybe in a deceptive way to make it look good for everybody while adding transaction fees that go to them?

When that happens confidence in Bitcoin will fall and either a hard fork needs to happen or people will move to other altcoins.

But regardless of the cryptocurrency people will choose, the killing blow on the banks was when the Blockchain technology was released as open-source. Pandora's Box was opened on that day.

Unless they kill the internet people will just create a new cryptocurrency to adopt each time the banks corrupt the ones they use.