MIT Tech Review Reveals Plan to ‘Destroy’ Bitcoin

MIT Technology Review is prepared to take down the world’s most popular cryptocurrency!

Technology writer Morgan Peck has published a plan stating three different ways that could help to get rid of Bitcoin.

Option One: Government Takeover

No, Morgan is not suggesting that Bitcoin be taken over by the government. Instead, the plan is that governments create their own digital currencies – called fedcoins – with improved features over those offered by Bitcoin and controlled by the likes of trusted institutions like the Federal Reserve Bank. The network nodes could operate like the institutional banks – akin to JP Morgan and Bank of America – who will be responsible for a select group of addresses on the blockchain and for all the transactions and activities occurring for those. The Fed would act as the final arbiter.

Fedcoin and its network would help with tasks including automatic collection and filing of taxes, facilitating transactions for the purchase of…