Displace Fiat

August 17, 2017
“If bitcoin continues unchecked it will likely displace fiat currency to a large degree. Fiat currency is the main power source for the entire banking industry and to a lesser degree the US Govt. … …[govt/banks] want to destroy it. They have already done the same with EGold, Liberty Dollar, and many others. However, bitcoin is so widely held, popular, apparently difficult to attack [from a technical enforcement standpoint], and clearly a moral good that a traceable attack, at this point, is going to be a last resort. I’d expect to first see a continued propaganda effort and further attacks on the fiat-bitcoin interface [i.e. making it illegal to sell bitcoin for US dollars]. This will [attempt to] drive bitcoin further underground and give impetus to the propaganda that it is the currency of illegal activities. Eventually this can attempt to build public support for destroying bitcoin.” -lorax2013

Posted by Ben B

bitcoin Blog