Community post
Banksters Hate Cryptocurrency...
https://news.bitcoin.com/worlds-central-bank-crypto-could-risk-bank-runs/
Bank for International Settlements (BIS), the world’s central bank to central bankers, is suggesting state-backed crypto might destabilize commercial banks’ customer deposits, negatively impacting the “efficiency of financial intermediation.”
WTF does "negatively impacting the efficiency of financial intermediation" mean?
Well for starters, P2P is more efficient than any type of intermediation. What they are saying is that cryptocurrencies will negatively impact the financial intermediaries.
To which I'd reply: This is a feature, not a bug.
Robots and automation aren't just taking minimum wage jobs...
!
Replies (4)
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