They will be against it, because it threatens their system. None of the points made hold ground against Bitcoin.
"If you take [the value of] all bitcoin transactions last year, we did that in three hours of trading [on a Citi forex trading platform]. So I think the maturity of it – I don't think it's quite there yet," Baxter said.
Baxter pointed to bitcoin miners dropping out of the network as evidence that the cryptocurrency's economics failed to "stack up". He was building on an earlier point that technology innovators should focus their efforts on the "core" of the existing financial system, rather than its periphery.
Because no new technologies have road bumps or hiccups.
