It's a bit rich that European central bankers are decrying the alleged risks and dangers of bitcoin. After all, the euro currency poses many destabilizing dangers and risks of its own for the European economy.
The definition of a monopoly (and therefore of competition) in traditional economic theory is arbitrary. And there are many reasons why big companies with little "competition" are beneficial.
In such proposals as let us raise farm prices, let us raise wage rates, let us lower profits, let us curtail the salaries of executives the "us" ultimately refers to the police.
