Uh oh, Bitcoin is not only on the radar screen, it’s now being targeted as an enemy to be blown out of the sky. Central bankers in the developing world, which is by far Bitcoin’s best use case for serving as an alternative currency of exchange, are getting desperate to maintain unfettered control over who stays rich and who stays poor. Thus, they’re deploying the highly successful, well worn, time-tested, strategy of instilling fear in their captive audience:
- Kenya’s central bank is taking out newspapers ads to warn against buying Bitcoin
- Armenian Central Bank Says Stay Away from Bitcoin
If you read those stories, you’ll notice that only the downside of Bitcoin is presented. But how could anyone expect otherwise from powerful central bankers with a vested interest in maintaining the status quo?