Some of the biggest names in banking are reversing course on their views of Bitcoin, should their arrival be feted or feared?Samantha Heywood thought she could change him after they got married. Like so many other women, she thought that given time, her then-boyfriend now husband, would perhaps change his ways.And for the longest time there were plenty of signs to indicate that that could happen.After all, hadn\u2019t he thrown her a surprise birthday party and wasn\u2019t he tender with her when no one else was looking?Yet as she washed the matted blood out of her hair, Samantha was starting to wonder if Doug would ever change, or whether she\u2019d be dead well before he did.Thinking back to a song she had heard her father play in the car by Al Wilson, Samantha realized now how na\u00efve she had been all along.\u201cI saved you, \u201c cried that woman,\u201cAnd you\u2019ve bitten me, even why?And you know your bite is poisonous and now I\u2019m gonna die,\u201d\u201cOh, shut up, silly woman, \u201c said that reptile with a grin,\u201cNow you knew darn well I was a snake before you brought me in.\u201dWas Doug the snake Samantha\u2019s father had always warned about?Which is why the rush of the cryptocurrency industry to embrace institutional money is so puzzling \u2014 it benefits the incumbents far more than the upstarts.Institutional participation in cryptocurrencies favors centralized intermediaries rather than the decentralized ethos upon which Bitcoin was founded.And Wall Street money favors a pattern of habitual rent-seeking, instead of fostering further innovation and experimentation with cryptocurrencies and blockchain technology.So why the push for banks to bet on Bitcoin?Bitcoin for BankingIt\u2019s not that Wall Street views technology with suspicion.In fact, Wall Street has historically been quick to embrace technology, particularly when it increases profitability.Take for instance the computer.Wall Street was the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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