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Lark Davis Expressed: The Bank of England really hates bitcoin! Crazy part is that while they say that BTC is risky the British Pound has lost like 99.9% since it was first released a few hundred years ago.
Reportedly, “The Bank of England has warned that existing cryptocurrency risks could pose a threat to the established financial system.”
Community Response: Says it all really.
Just think, with one pound, a doctor used to be able to buy a year’s supply of leeches for bloodletting and now all they can get is some stupid antibiotics. I can confirm this inconvenience.
The British who never create anything of value but have survived on loot, downwards from here only.
Aside from Penicillin, Computer, World Wide Web, Theorem of Evolution, Flush Toilet, Fighter Aircraft, Sir Camera, Discovering the Atom, Telescope, Steam Engine, Incandescent Light Bulb, USA (Founded By People Solely Of English Descent) Etc Etc, They’ve Done Nothing!
I think you need to check your facts and keep your pride under check. Most of these inventions were first built and prototyped by Non-English inventors lol. I would also lose the etc in the tweet.
Like it or not, having the technology to colonise countries with much larger populations is a great achievement, many would have loved too but couldn’t. Evolution is an interesting one. It’s over 200 years old yet religions like Islam and Christianity still exist. Go figure.
The root cause of all monetary diseases and crises is the disconnection between precious metals and fiat money, unlimited money printing. It has nothing to do with Bitcoin.
From a business point of view they hate it but I can tell you with confidence the UK bankers are personally invested in Crypto
Well, what they are saying is true. It is a threat. For the(ir) status quo. But when bankers are making statements like these, it also means that they have no answer. I consider them outcries to regulators and governments to pretty please protect them.
Banks also know that the rules and regulations that have been put into place by regulators and that have protected them for decades, now hold them back for being able to reinvent themselves in accordance to this new reality.
Wrong. The Central Government and Banks Pose Risk to the Financial System.
That’s because they know that they soon won’t be able to compete with such a strong opponent, so they try to suffocate it by all means. What we see is a sign of fear.
Crypto as a whole is much more recent. So, I think it’s obvious that its seen as being “risky” by those not so knowledgeable about it.
They hate it because ordinary people can make money on it without their knowledge. I have already reached an income by trading on Bitfinex, several times more than my salary.
Price Control: Stocks: Company owner, Gold Silver Coal Etc: Big Player / Government, Government – Fiat Money: Government – Bitcoin? Imagine How do we protect value if no one is in control?
Do you agree if the price goes up and down, it can be controlled just tweet, like a Doge? Yes. It is profitable, but for small money only, dare you put big money if price is controlled by tweet? Give me an explanation sir, I want to explore this, cheers.
Now, we have our blue passports back and are no longer bound to the EUs foolish metric system maybe we can return to the simpler British “old money” system again. So much easier. 20 fluid ounces of beer is about 4 Pound, 2 shillings, six pence, 2 bob and a tanner ha’penny.
“We really need to roll our sleeves up and get on with it, so that by the time this becomes a much bigger issue, we’ve actually got the regulatory framework to contain the risks,” If you take out the work ‘issue’ I don’t have a problem with that statement.
It’s about power and control. There are a lot of people who are changing the world and all they need is a little push. Like a trillion here and there to make it happen. They know this and they’re certain that the devil they know is better than the one they don’t.
