Banks spread fake news stories about Bitcoin and other cryptocurrencies to 'restore the status quo'

[Jonathan Fairfield]

Banks spread fake news stories about Bitcoin and other cryptocurrencies to 'restore the status quo'

 

The future of Bitcoin could be under threat because of fake news stories being peddled by the banking sector, a leading website has claimed.

 

News site Coingeek.com, which has recently been acquired by billionaire Calvin Ayre, claims the banks are trying to sully the industry in order to restore the “normal status quo of economics”.

Ethereum - a cryptocurrency and payment system like Bitcoin – was toppled at the hands of a fake news story earlier this year after it jumped from around $10 per ETH token to around $380.

 

In a ‘flash crash’, its value dropped from to $0.10 following a series of stories surfacing and causing confusion and a lack of confidence in its future.

 

Full story: http://www.mirror.co.uk/tech/banks-spread-fake-news-stories-11107961

[rocketman777]

This story  sounds suspiciously fake !

But it does come from a credible Newspaper

[12DrinkMore]

Oh dear, that tulip bulb mania again.

 

With no central bank to back it up, no legal status as a medium of payment, and no tax collection to enforce its use, it will remain an unstable speculative punt.

[spidermike007]

The majority of the fake news I am seeing is coming out of the White House. From the deflector in chief. The ultimate manufacturer of fake news.

[phycokiller]

just about all bitcoin news is fake, simply because the journalists writing about it dont know anything about the subject

[Krataiboy]

Yeah, but. . .

 

The banks are worried lest Bitcoin or some other crypto-currency stops them taking over all the money in circulation - which is what will happen if and when the much-vaunted cashless society arrives.

 

If we allow them - with the help of  conspirator governments - to win the "war on cash" we will no longer have any money in our possession. All currency will be digitalised and held on computers.  Banks and governments will be decide how much  we can spend and what we can spend it on - and be able to pull the plug on our digital account at any time for any reason.

 

The implications are frightening.https://www.bloomberg.com/view/articles/2016-10-14/the-cashless-society-is-a-creepy-fantasy

 

For an idea of where a cashless world is heading, Google what has happened in India since they outlawed most cash transactions - riots, deaths from starvation, suicides and a spiralling economy are the calamitous result.

 

The freedom to earn, carry and use currency for trade is a long-established basic human right which we must fight to preserve. Banks - who created the last financial crisis,  are private companies, not state entities, and have no right whatsoever to take over our money.

 

Any government which says otherwise is on the side of the corporate/financial elite, not the people who elected them.