Releasing an article from MIT technology review about destroying Bitcoin in three ways to bring down the cryptocurrency from the market.
First option to create a Federal Reserve-backed coin known as a (Fedcoin) under the government takeover. Institution will be verified under this blockchain as a trusted institution, said Mr. Sahil Gupta to the Mit technology review. Bank of Canada constructed a system on Ethereum on 2016 mentioning in the article.
Second way, Facebook can also dominate over the bitcoin easily. Social media site creating with a BTC wallet for the users and awarded them with Bitcoin for interacting with ads and for other social activities. Facebook can wash away Bitcoin from market by making their own cryptocurrency just like Telegram which is in the process.
The last way to erect Bitcoin tangential is the making of several new cryptocurrencies for any system. This is basically already happening according to the article Of MIT Tech. Companies are making their own currencies for their service.
By the MIT reports, National Security Agency (NSA) attempts to identify the BTC’s people addresses which was leaked by Edward Snowden. He said that the blockchain ledger was in devastatingly public which cannot be controlled by the government fiat. But the government could create pressure the crucial BTC miners
In conclusion MIT Tech review, if the cryptocurrencies are getting used widely that will become a habit of common people, not the well-wishes of Bitcoin’s adopter. It will determine the vision of Satoshi Nakamoto.
Very interesting article but curious also. need to study more about this news.
Interesting article. BTC is good when its bar is green, and it is demon when its bar is red. regards
Bitcoin is the future of digital currency. I doubt it would be destroyed. It may be regulated but it being gone totally is an absurd thinking.
Really interesting, though I’m not sure I agree. Thanks for sharing.
Thanks for the post... Any source link? Curious to see the full scope of the article.
Interesting.
yeap interesting
Great read...thanks!
Thanks for the post... Any source link? Curious.
Bitcoin won't be killed, IMO.
I agree that there could be federal regulatory coins created - but a huge attraction currently is the speculative desire of increased profits in volatility. A FED coin would likely have burns initiated like tether to keep a stable price.
Although Facebook has tremendous power - do we really associate the idea of FB creating a coin wallet with success. Do they want to really deal with more legislative headaches on the hill in doing this?
FREE 0.00122BTC !
New CPS Coin in coinpayments.
Just Create an account and get FREE 0.00122 worth of BTC
www.tinyurl.com/ydg6aj6t
There are too many coins already. Being able to earn on Facebook similar to Steemit is interesting though and must be in their thinking.
Can only do good.Competition drives progress.