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Effort to control crypto-currencies

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Bitcoin, in itself and as a paradigm for other crypto-currencies on the same model, is a powerful alternative to state-controlled monetary systems. Politicians have refused over decades to harden money, in essence because they are in bed with the central bankers who control the fiat system. In this circumstance, markets are seeking a work-around, a way of hardening their own currencies, and that is what bitcoin means as a historical development.

The free range non-proprietray nature of the system is a large part of its appeal. Thus, the news that JP Morgan is trying to put up fences in this very range is distressing.

Yet Ian Allison reported on exactly that back in August.



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