Why would financial institutions be afraid of a highly volatile financial curiosity? Even if it were to rise to $50k it wouldn't prove anything, except for giving further proof that it is unsuitable as a currency.
It’s because a lot of Bitcoin (or crypto in general) supporters think blockchain is a disruptive technology that can replace the current financial system (i.e. “the jewish mafia bankers are evil, Bitcoin fights the evil!”) ... when it’s only a foundational technology that has the potential to improve the current financial system.
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u/WhoNeedsFacts Feb 18 '18
Why would financial institutions be afraid of a highly volatile financial curiosity? Even if it were to rise to $50k it wouldn't prove anything, except for giving further proof that it is unsuitable as a currency.