Just interesting news to me.
It seems that they did not have any choice. They were losing ground to start with. We will see how regulations will prevent them to go on.
>>> “The stock’s record-breaking performance comes after Paypal recently reported a drop in its third-quarter earnings in October. While that performance subsequently forced Paypal not to provide preliminary guidance for 2021, there is, however, a belief that the cryptocurrency trade service will result in a turnaround of the company’s fortunes.”
At one point, these big institutions will have no real loyalty toward central anything. Some of them might, but will need some deep pocket and, maybe a little bit of your pocket, in order to break even.
>>> “With bitcoin outperforming most other assets this year, the analysts explained that “if pension funds and insurance companies in the U.S., euro area, U.K. and Japan allocate 1% of assets to bitcoin, that would result in additional bitcoin demand of $600 billion,” the news outlet conveyed.”
news.bitcoin.com/jpmorgan-600-billion-demand-bitcoin-global-institutional-adoption/
What is hard to understand between the word “decentralized” and a “central” bank? Centralized systems are not good. They may fail and then everybody is worst off. It is very much like having all your eggs in the same basket.
There is a natural tendency for networks to create supernodes that are in fact centralization of relations. That tendency is also very present in human relations (see Facebook, religions, sports, etc.).
We must fight this tendency in order to protect ourselves. The same is true for going to your local butcher or independent grocery store instead of any big chain. If the big chain has a logistical or transportation problem you might not be able to feed yourself for a while. If you help the local store and they have a problem, you might not have far to go to get to another neighborhood.
>> “Every single day the conversation about the Great Reset continues to amplify. More recently, mainstream media publications have been publishing rebuttals in response to the many skeptics of this agenda who believe the reboot propaganda is meant to install a new world order. The American broadcaster Max Keiser is telling a few countries to get as much bitcoin as possible to hedge against the economic reset. Meanwhile, Dr. Joseph Mercola explains that unlike central bank digital currencies, bitcoin is the “decentralized and a rational strategy to opt-out.””
news.bitcoin.com/the-great-reset-agenda-bitcoin-is-a-decentralized-and-rational-strategy-to-opt-out/
This will just help to popularize cryptocurrencies. Peer to Peer, decentralized systems are not easy to stop. The music industry has tried for years to put a brake on music sharing and, to this day, they have failled.
>>> “Since the financial blockade by Mastercard and Visa, Pornhub’s premium services plans now must be paid with cryptocurrencies, as that is the only option available. If a user wants to purchase a plan that starts off at $9.99 a month or a yearly plan with a one-time payment of $95.88, the person has 13 cryptocurrencies to choose from.”
news.bitcoin.com/pornhubs-premium-services-crypto-payments-13-digital-assets-supported/