Re: Is there an institution that protects the circulation of Bitcoin?
The Electronic Currency which is the basis or basis of the currency is the existing currency we know today (such as the dollar, euro, rupiah) which has the physical form and legal status in the eyes of the law. Whereas the base of Crypto Currencies comes from the computer programming language they develop. For this reason, there are various other fundamental differences between Electronic Currencies and Crypto Currencies, among them are. Crypto Currencies do not involve conventional actors in the financial world such as the central bank, and the publisher of Crypto Currencies is also not a financial institution, so there is no oversight institution that has so far sheltered it.
Crypto currencies were developed to be independent from centralized institutions, so I do not see why people are still hanging onto traditional requirements and old outdated systems. We do not want governments or Banks to manipulate Crypto currencies and we achieved our goal with this, so people should just accept that Bitcoin is the new way of doing business.
Satoshi created and designed Bitcoin to run without centralized oversight or control and this is exactly what we wanted. No toilet paper money will be created with Bitcoin.
