The old financial world is trembling out of fear for new technologies like Bitcoin. Central banking will soon be obsolete, but they won't go down without a fight. We must prepare ourselves accordingly and become independent from them as much as possible. Become self-preserving and build communities around new, decentralized technologies.
Good post! Steem on!
Hi @rvanstel! @dandesign86 is sending you 0.3 SBD tip and @tipU upvote
:)
@tipU - send tips by writing tip! in the comment, get share of the profit :)Looks like the power is slowly shifting from 1% to the 99%!
That is true my friend !
You are right on point. This is just one scheme of many to come. What is good though is that they can't manipulate the cryptos the way they do with the paper markets. Just by doing this fake propaganda and scare tactics. Becoming self-preserving I think is key for sure ! Thank for your insightful comment ! tip! 0.3
Thanks for the tip! I didn't know about @tipu so I'll check that out. :)
It's quite nice when you don't have a lot of voting power yet and you want to give a little extra. You should check it out :)
You are definitely right, we will see much more of these scare tactics and ploys, and it's our own responsibility to make sure to be independent!
Jamie Dimon seems to understand the threat cryptocurrecies pose to the stranglehold central banking has on controlling money. But it looks more to me like this is central banking's Blockbuster Video moment where the leaders in the industry are so entrenched in their old ways they can't see the change happening all around them. When Blockbuster realized Netflix was crushing the rental market it was too little too late. I'd wager the same thing is going to happen to the bankers once cryptos reach the tipping point.
Problem is that banks have a quasi-monopoly over the money supply, protected by government. It's certain that they won't go down with a fight and I expect that governments around the world will put in more effort to ban/regulate/discourage the use of cryptocurrency.
A good example is the Dutch government which is experimenting with integrating blockchain technology in their administrative processes (and taxing crypto along with it). You can read about that in one of my recent posts: Governments co-opting crypto is bad news for Liberty-Minded people - Looking at Dutch gov. blockchain experiments
Oh no doubt about it. I imagine when the banks realize the gravity of the situation the gloves will come off and they'll do everything in their power to try and stop crypto.