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This year's budget delivers the ammunition to fight an Opposition that until now has led the way on policy. But it also has a ticking time bomb buried just outside the four-year forward estimates.
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Every dollar visualised Explore where the Government gets its money and how it's all spent. Budget contains political opportunity and a time bomb This year's budget delivers the ammunition to fight an Opposition that until now has led the way on policy.
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But such centralization is unwelcome for many users of the currency outside of China. And change is what it probably needs. If the currency is to grow—which, as the Financial Times argues, it clearly needs to—it will need a technical redesign.
Currently, Bitcoin can only tolerate up to 7 transactions per second, which is tiny compared to the many thousands that, say, Visa can handle. The Chinese companies mining Bitcoin could, in theory, join forces to take advantage of the majority loophole. Given the country in which the most prolific miners operate, the news could raise fears about state control.
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