This is today’s article from The Australian (a national newspaper and it is the most bullish thing I have read in the mainstream media. You can skip most of it but read point 4.
Quote
Why Bitcoin Will Fail
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
Isn't this EXACTLY what Bitcoin was created to challenge - governments and central banks that print money based on the decisions of a highly-placed few? They receive a source of income just by creating money out of thin air. And every bank along the way grabs a share of the profits until it reaches the citizens at the bottom of the chain, for whom the money was originally intended.
No wonder this bank has realized this threat to its existence.