Bitcoin Comes Under Full Scale Attack by Regulators

Activist Post

Digital cryptocurrencies, like Bitcoin, still have a long way to go before mainstream use, but they seem to pose a huge threat to the existing financial paradigm as evidence by the recent frantic reaction by regulators.

To be clear, cryptocurrencies are threatening because no central entity can fully control them and they also represent a nearly free and anonymous payment application.  It's an algorithm that has the potential to make central banks, commercial banks, private banks, and the tax collectors obsolete.

In other words, cryptocoins may be epoch changing for society.  In the same way the Internet killed publishing or how VoIP killed long distance telephone carriers, cryptocoins may in fact kill debt-based money and brick-and-mortar banking.

Bit Apple: Savvy pros push Bitcoin currency

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