As the propagation of Cryptocurrencies take on a global audience, the minority of the economic elite, whom hold significant power over the global economic climate are beginning to react in predictably obstructive ways. However, Crypto presents a great opportunity for developing countries to break free from the quagmire of economic slavery, and finally dissolve the poverty trap.
Conventional banks and government-run monetary authorities are beginning to wage war against on the meteoric rise in the use of Cryptocurrencies. Campaigns are being launched to discredit the legitimacy of Crypto, largely lead by big businesses, with explicit vested interests in the continued use of centralised Fiat currency. To the cautious, this represents a decline in the propagation of this new currency, and disenchantment with the concept of Cryptocurrency, which in turn may lead to knee-jerk reactions of panic selling. However, the fact that the economic elite have even acknowledged Cryptocurrency, coupled with their continued efforts to discredit the currency with smear campaigns only lends further legitimacy to the robustness of Cryptocurrencies, and their potential to disrupt the established economic order. Cryptocurrencies are a very tangible threat to the economic elite, because they are by their very nature, decentralised, and effectively cannot be minted and controlled by particular parties...
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