The Massachusetts Institute of Technology (MIT), Massachusetts, United States has decided three ways to destroy Bitcoin
The government should take over the bitcoin and name it as fed coin under Federal Bank of US MIT first way:
“The year is two-thousand-something-big, and it’s the day your taxes are due. But you don’t file them. Instead an algorithm automatically makes a withdrawal from your electronic wallet, in a currency called Fed coin.”
There are three main coins by market cap, ethereum and Ripple’s XRP, as securities. Yale undergrad Sahil Gupta told the MIT Technology Review the new block chain will have authorized fork to all the users. Bitcoin is the first crypto currency among all so according to U.S.law it will fit to be destroyed first.
Former chairman of the Commodity Futures Trading Commission. “Ripple is doing a lot to advance the value of XRP.”
(The so-called Howey test says something is a security under U.S. law if it is an investment in a “common enterprise” offering an expectation of profits from the efforts of others.)
Second option is Face book should take over Bitcoin and all users will have BTC wallet and it will give them ads free experience said MIT.
“If Face book could persuade a large enough fraction of Bitcoin users and miners to run its own proprietary version of the Bitcoin software, the company would thereafter control the rules. It could then refashion Bitcoin as a corporate version of the Fed coin described above.”
As Narula said: “We’re realizing money versus equity isn’t a binary choice. It’s a spectrum.”
And the third way is to create too many currencies together. MIT says:
“You’re in the checkout line at the grocery store. Inside your phone’s digital wallet you find not only Fed coin and Facebook Coin but also Apple Cash, Toyota Cash, and a coin specific to the store you’re standing in. There’s also a coin redeemable for babysitting services, and another that gets you rides on your local subway system.”