Why the powers that be fear bitcoin and cryptocurrency

When Bitcoin first emerged it was a novelty for geeks and computer nerds, a weird kind of internet money and then a means for criminals to laundrey money. Slowly but certain with a rollercoaster of ups and downs in the Bitcoin market bitcoin recently hits an alltime high of 5000 dollars. Taken notice of the critics but just keep trucking on, getting punched and beaten up but never laying down.

Bitcoin and the underlying technology Blockchain are both forces to be reckoned with and are here to stay. Bringing some regulation to the cryptocurrency is inevitable. Granted that bitcoin and cryptocurrency can be used for criminal activities so can Cash. And I never heard one politician advocating to ban cash.

Bankers and financial dinosaurs don’t want bitcoin because it messes up there business model and income. They either don’t understand it or don’t want it because of self interests.

Governments and big business preach free markets but at the sign of a true free market monetary currency they get scared and say we need to control this. Traditional fiat created in debt enslaving people, and making governments spend more and more money they don’t have is unsustainable. Preventing people in poor country’s to participate in financial markets is not only unethical but leads to more poverty and more war.

Source: https://www.commondreams.org/views/2016/07/22/occupy-protests-platforms

The Manipulation of interest rates and currency’s, growing debt ceilings and corruption and fraud in the traditional banking sector brought us to the global financial crisis of 2008. Bitcoin was a reaction to this failing system and 10 years later bankers and politicians instead of embracing this new fair currency they try to ban it saying it is a fraud or a pyramid scheme.

Bitcoin and Blockchain are solving problems that can lead to a better, saver and more fair world.

-Free trade and access to financial Markets

Source: http://www.alamy.com/stock-photo-indian-market-street-in-trichy-15836374.html

When bitcoin is accepted as a global currency there are no limits to trade, everyone with a smartphone, a bitcoin wallet and an internet connection can trade with anyone else in the world. People who are in remote area’s will have access to financial markets.

Source: http://www.worldbank.org/en/topic/financialinclusion/brief/achieving-universal-financial-access-by-2020

With Google and Facebook launching projects to provide internet access so everyone can and eventually will be connected to the internet.

-Corruption and manipulation

Central Banks manipulate interest rates and the flow of money as they see fit, this causes an unstable financial world where regular people every couple of years lose money to financial institutions. Growing debt for company’s and country’s with no accountability.

Bitcoin and the mining of bitcoin regulates the cashflow as mining gets more difficult there is a slow creation of money with a steady inflation and a ceiling to how much money can be created. This brings stability and trust that is much needed and that is the thing people want to see in a currency. Financial Books can not be manipulated because all transactions need to be verified by the blockchain and are transparent for anyone to see. An accountant is corruptible the blockchain is not.

Long story short, Bitcoin is here to stay. And with the debt bubble ready to pop Bitcoin will show its worth.