The major "representatives" of the financial world object to anything which is beyond their control. No telling how much wealth has been transferred from the people of the world to the banking industry and their respective controlling governments.
All fiat currencies eventually go to zero value - i.e. fail as a store of value. When governments print more base currency than there is actual value (or wealth) to back up the currency, the currency goes into inflation. In our current times, do some research on what has happened to Venezuela and their financial problems with their fiat currency.\n
Bitcoin and other cryptocurrencies are outside of the banking system, Thus they are outside of the control of the central banks. The only way the governments of the world can stop bitcoin and other cryptocurrencies is to shutdown the Internet. And that won't happen since the Internet is too valuable as a source of propaganda and spying by the governments.\n
Lastly, while the governments of the world can outlaw cryptocurrencies in general, all they will accomplish is to deny the good citizens access to the benefits of cryptocurrency and have little or no effect on illegal activities.
Slashdot Mirror
The major "representatives" of the financial world object to anything which is beyond their control. No telling how much wealth has been transferred from the people of the world to the banking industry and their respective controlling governments. All fiat currencies eventually go to zero value - i.e. fail as a store of value. When governments print more base currency than there is actual value (or wealth) to back up the currency, the currency goes into inflation. In our current times, do some research on what has happened to Venezuela and their financial problems with their fiat currency.\n Bitcoin and other cryptocurrencies are outside of the banking system, Thus they are outside of the control of the central banks. The only way the governments of the world can stop bitcoin and other cryptocurrencies is to shutdown the Internet. And that won't happen since the Internet is too valuable as a source of propaganda and spying by the governments.\n Lastly, while the governments of the world can outlaw cryptocurrencies in general, all they will accomplish is to deny the good citizens access to the benefits of cryptocurrency and have little or no effect on illegal activities.