Rumors suggest that the Fed and IBM are currently discussing the prospects of creating a national currency that is based on Bitcoin. This piece of news might be presented in a controversial way by mainstream media. However, the fact that Bitcoin is suddenly a concept worth emulating by IBM and the Fed will be directly brought to focus. The recent developments involving Bitcoin and Blockchain technology will generate a lot of alleged integrity in the mainstream. However, IBM and the Fed wish to centralize their official product. In other words, they wish to stamp their authority on it.
Blockchain is a direct opposition to that and seeks to destroy such attempts. The dynamics involved in this are quite similar to that of media monopolies who wish to create their own paid-version of BitTorrent. The catchphrase would be ‘officially sharing multimedia with P2P’. Although a few people might fall for it, the majority would prefer an Open Source solution and keep enjoying free media.
The Bitcoin critics will always notice impending doom in their charts, but you should never let that dishearten you. The trading bot was responsible for driving the price of Bitcoin too high within a short period. In conclusion, the digital currency is not about to face death. Instead, a solid recovery awaits it.
Stay tuned for more updates on Bitcoin!