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Why the Birth of Bitcoin Can Be Traced Back to 1971
1.9.2019
The world economy is a complex system that has undergone many different phases in the past century. As strange as it may sound today, there have been times when banking crises were rare, pay was rising alongside productivity, and the U.S. dollar would buy a certain amount of pure gold. Despite...
Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies
17.8.2019
Record low and negative interest rates have put commercial banks in a difficult spot. Across Europe, they have been passing the burden to their clients. Some have introduced fees for those with large account balances, while others are punishing everybody equally. In any case, some bankers fear this...
Big Banks, Big Troubles: HSBC, Deutsche, Societe, and Citi Lay Off Thousands Worldwide
9.8.2019
Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup...
Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto
2.8.2019
On August 1, it was discovered that the giant retail corporation Walmart has patented plans for a stablecoin that’s backed by U.S. dollars. If released into the wild, the USD-based cryptocurrency would be issued to select Walmart retailers and partners while the patent’s description...
Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels
18.7.2019
The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner,...
Side Effects of Economic Growth: Is Snowden Right to Say Bitcoiners Shouldn’t Be Bankers?
1.7.2019
Growth is a goal that’s worth achieving, in most cases, and the current economic paradigm favors it. But when central banks start undermining their fiat economies and crypto companies begin to mimic financial institutions in its name, growth becomes an end in itself with self-destructive...
8 Irate Quotes From Officials Who Hate Facebook’s Digital Currency
27.6.2019
The best thing about Facebook’s proposed digital currency isn’t its BTF consensus algorithm, account-based data model or single Merkle tree structure. No, the greatest thing about Libra has to be the triggered reactions from politicians and bankers who can sense the rug being pulled...
Banks Fined $1.2 Billion For Forex Discrepancies, “Long Bitcoin, Short The Bankers” Proven Again
17.5.2019
Famous crypto analyst and news editor Anthony ‘Pomp’ Pompliano tweeted on Monday that multiple banks have been fined for approximately $1.2 billion. The tweet comes after reports surfaced stating that four giant banks, RBS, Barclays, Citigroup, and JPMorgan, have been fined by...