Can Bitcoin Destroy Banks?
Prime Minister Benjamin Netanyahu talked about the future of banking related to the blockchain technology. Many right-wing Israeli politicians saw under President Donald Trump a chance to advance plans to annex part or all of the West Bank into Israel. Though such a move would outrage virtually every other government, Israel’s right believed Trump could provide Israel political and diplomatic cover, blocking any attempts to sanction Israel at the United Nations were annexation to proceed.
The statement is concerned that members of the public may be attracted to invest” in them because of the surge in prices. Buyers should be aware they run the risk of losing all their capital.” The authority pointed out that there’s no regulatory protection for investors, and urged citizens to report fraud suspicions related to cryptocurrencies to the police.
We’ll see, though. Money is a means of control for those in power, and crypto threatens that control. But like all revolutions, old seats of power can be overturned, and new interests take over. History is full of examples of power changing hands, sometimes by force, sometimes by the will of the people. Bitcoin may very well be the catalyst that overturns the established powers. In the case of the blockchain, management can quickly become decentralized, taking over most of the functions of government in a fair and non-biased, incorruptible way.
The qualities that have made Bitcoin the payment method of choice for gambling, illegal deals, and ransom demands – it runs on a decentralized web of computers around the world that sidesteps regulators and banks – are also what makes it hard to control by governments. Further adoption of Bitcoin may require central banks and regulators to come to a consensus on how the new digital currencies fit into the existing system.
Today there are many cryptocurrencies on the market. Yet, only a few of them are suitable for your individual needs.
