Why Do People Trust Satoshi Nakamoto More Than the Federal Reserve?
On April 9, the chief of the NYSE declared that crypto trading is an industry that they cannot ignore, and affirmed that people have belief on the mysterious creator of Bitcoin, Satoshi Nakamoto, beyond they trust the Federal Reserve (or ‘the Fed’), the central bank of the globe’s largest economy.
The central bank has merely been in existence for merely over 100 years and was established before the First World War in the year 1913. In spite of the word Federal emerging in the institution’s name, there is nothing ‘Federal’ about it. The central bank is, indeed, a quasi-private organization; and even though it has the word ‘Federal’, it also bears the word ‘Incorporated.’ The Fed isn’t a theme to Freedom of Information requests, and some board members are not publicly selected, but rather are picked from member banks.
Every time there is something new that revolutionizes the way people see the world, there is going to be some backlash. I don't remember what the name of the person was, but there's a story that the person who created the device that allows people to communicate over radio frequencies was told to go to a mental asylum by his friends because they didn't believe it was possible. There will alwyas be backlash until the revolution is seen as "normal" and accepted by others. Crypto won't really be accepted as "normal", in my opinion, until big corporations and companies accept it. But then again, crypto is disrupting their playing field. So it may be difficult for that to happen since they have so much power.
Very true. @dianaclark When something unique comes, it's not easily accepted, but it looks the flow of Crypto cannot be stopped. I agree digital currency is disrupting the centralized systems, but they have no option but to embrace the same. Thank you for your wonderful comment!
Coz Satoshi is a genius thats why they trust him ... :)
@cometomyway True, plus the cryptocurrency enthusiasts are much excited about the new technology which has come with numerous benefits.
Thanks for sharing the video ...
@syedihsanshah You are welcome all the time.