Bunz is launching its own currency. I am starting to think that we are seeing the end of money as we know it, or the start of that. If these kinds of currencies eventually stabilize and come into use, "old" money will be discounted against it .... for various reasons that align with the "tax the rich" sentiment.
Extremely unlikely. Technically speaking crypto currencies do not scale well and waste a lot of computing resources. A payment system like Visa can process more transactions per second for a lot less. On top of this the lack of any central authority to restrict access to bad actors means that crypto currency transactions will be the exclusively used by scammers and criminals. People will learn that if they want to benefit from any consumer protection laws they will have use national currencies.
The banks are worried about these things. Rich folks (and by that I mean very wealthy with at least tens or hundreds of millions in assets) should also start thinking about them.
Cryptocurrencies are the latest fad that allow well connected rich people to manipulate the market and make money at the expense of uninformed small investors jumping on a bandwagon. Banks have nothing to worry about.
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