A 56-year-old businessman Frank Timis, who has ties with the Rothschild Bank, has been revealed to be a part owner of Argo Mining Company. This comes after they fired two top tier executives after being in a difficult situation for a long time.
This Romanian-Australian has a net worth of 2 Billion Dollars and has deep-rooted interests in oil and gold mining. He now owns 14% of the stakes at Argo Mining and is at the helm of it all. Argo mining is now moving on from subletting hash rates to mining its own.
Argo went through a shakeup earlier as a result of their unsuccessful attempts at ruling the Bitcoin mining industry. They have also reworked on their entire business plan after the crypto winter, and rising costs proved too much for their existing cash flow model. With a new business plan that is more focused and effective, the firm eyes on the potential of a rising Bitcoin.
The Rothschild Connection
Blockchain technologies were invented to avoid or even fight centralized organizations like banks. With the Rothschild bank connection with a Bitcoin Mining company, it seems as if the bank is indeed keeping an eye on the contender. Is it possible that the institution plans in taking over the industry and centralizing it for gains? Yes and No.
It is possible that they intend to do something like that but it, in reality, it’s impossible to happen or take shape. You see Bitcoin was created for the sole purpose of decentralizing a currency to put more power in the hands of the users rather than systems so it might take more than just “taking over” to change that.
That’s why Bitcoin is a much safer bet to individual treasure than most of the fiat currencies out there. It makes you the owner, instead of just a possessor, of the thing you own. It would never be possible for anyone else to take it away from you.
Why is Bitcoin safe
With the clever architecture with which Bitcoin was created, it is, and will remain, incorruptible by any outside forces. It would also be accessible from anywhere around the world. So no matter how many people start using Bitcoin and how they use it, your Bitcoin will remain yours until you choose to share it.
So, if you are worried about this new connection in the industry, don’t be. Your Bitcoin is safe in the Blockchain and will remain so.