EXCAVO

Bitcoin. Who and Why created it?

EXCAVO Updated   
BITSTAMP:BTCUSD   Bitcoin
The 21st-century phenomenon is the private digital currencies, it is one of the varieties of alternative money.
For the last century, banks have defended their monopoly on the money issue, which is fixed in the laws of countries.
When private digital currencies such as Bitcoin emerged, banks came back swinging hard. Initially, they said that it was not legitimate, it was necessary to close it, but it was difficult to halt the process of cryptocurrencies popularization. It is the peer-to-peer closed networks, the participants interact with each other horizontally. No administrative structure, regulation, or supervision.
The authorities can't handle with digital currencies, so it is better to legalize and try to get it out of the darknet. This is a very long legalization process. Government authorities create their own digital currencies in order not to lose financial control over people.
Bitcoin networks are visible, it is not difficult to identify the participant who transfers BTC. In 2013-14 there was a large
Silk Road was an online black market and the first modern darknet market, best known as a platform for selling illegal drugs. American state structures tracked them.
What's this for? Their one version - Bitcoin is an ideal tool for financing terrorism, the shadow-black business. In my opinion, it is the unconvincing argument, cash is a more efficient element of securing such transactions.
Digital currencies are a tool to undermine traditional banking systems.

Best regards EXCAVO
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