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Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies
Commence the tomato throwing!
If the crypto crowd wasn't already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing's ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he's calling a "fraud" that's destined to "blow up," they can now add the B.I.S. to their list of adversaries (of course if you are a Bitcoin fan and you didn't already know that the B.I.S. is your arch nemesis, t
It’s all about knowing what money is. Central banks don’t. And that has been the whole problem for some time now. The percent drop in Bitcoin was pretty normal. It is misleading to say “greatest drop since”.
If you only look back to the beginning of the US as a nation, or if you just look back to the California gold rush and the number of private currencies that arose from that gold supply and what happened to all of them – it should be clear to you that central banks/national treasuries know exactly what money is. It’s what they say it is.