Bitcoin is Today's Napster

Jökulsárlón. photo by @kryptoking

The Credit card companies declared war on crypto today. It reminds me of the music industry in the early part of this century. They put their efforts into making downloading illegal and criminalizing music fans while the very foundation of their business was crumbling.

Or Blockbuster who waited years to deal with Netflix and streaming. By then their stores were empty of customers. Or Hollywood who fought "piracy" until they learned how to make profits elsewhere.

But disruption is not new. As Andreas Antonopoulos is fond of saying, people with horses thought automobiles (or, as they were called, horseless carriages) were impractical and a fad. Why would you want to buy gas when your horse could just eat the grass at the side of the road?

So the financial institutions, governments, credit card companies, and other middle men are finally seeing the tip of the iceberg. And it looks cold!