There had been more rumors that #BlackRock and Coinbase may create paper #Bitcoin. I don’t know if that’s true but this type of scheme would be the greatest threat to #BTC price. Bitcoin price can rise indefinitely with the creation of infinite paper money but this effect can be thwarted if paper money buys paper bitcoins rather than hard bitcoins.
Discussion
That sounds like a really dumb idea. These banker types are trying so hard to make Bitcoin fit into the fiat paradigm. They're ignoring the real, fundamental differences and coming up with stupid ideas like hard bitcoin currency.
We can’t real blame the bankers for acting that way though. They act in their own interest to keep the system they depend on relevant. If #Bitcoin is allowed to be captured by the banking system through this kind of paper manipulation, then it means that somehow Bitcoin fails to supersede the fiat system.
I agree about their motivations, but practically speaking, what they're trying to do is fit a square peg in a round hole.
People need to learn #Bitcoin, otherwise they will swallow everything that the system gives to them.
