Bitcoin Forum

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

They would cripple it and impose high fees?

IMO. The bankers have most of the XRP, they are going to take advantage of the BTC correction to put it in first place and create FOMO, lower even more to BTC, sell XRP and buy all the BTC. The ALTS will die with the lowering of BTC and the subsequent unchecked rise of BTC. Controlling the BTC would have control of the rest of the coins. No ALT can go up faster than the BTC and create more BTC.

Am I crazy? I promise you that I had that vision last night

Sorry for me English

it is difficult to them cause BTC faster and there are no legal norms as we now ALTS can not live without norms

What would happen? Well one thing is for sure and that is that it will not end very well for BTC holder i guess. considering they dont like BTC at all there will be a big possibility that they would likely tax BTC with ridiculous amounts such as 75% or something...

That's not possible. bitcoin runs on a decentralized distributed ledger protocol. The very essence of bitcoin is to give back the power of control to individuals over their money.

Yes, they will cripple it at high fees for their (services). Thus, it will adversely affect the development of bitcoin and altcoin (cryptocurrency), because bitcoin and altcoin will be abandoned by their fans, then the bank will shut it down, citing the pressure from the government.

This is quite an interesting view. I cannot rule out that there is something true. But they won't be able to get many BTCs because BTC whales are whales exactly because they don't sell. They won't get enough BTCs to make a real difference.

I have never thought of this before. And this kind of thing basically can not happen.

This is bad .. if it is controlled by the bank I am sure it will be imposing fees, controlling the value, and the procedure will be applied bitcoin. I do not want what happens to it to grow naturally

The price I think would be stable, they will impose some regulations. The true meaning of a decentralized currency will be forgotten. I don't think it will happen, but these are the possible scenarios.

How bank control bitcoin? it’s better to say miners control bitcoin.
 if the banks take control of Bitcoin they will ask for ID and will start banning countries

I believe that is true. The Control is on the miners and mining pools. They are responsible for how are tx fees should go. So I'd say miners and mining pools more likely to take control than the banks.

This is just normal if the bitcoins rise altcoins will fall and vice versa but bitcoin is a decentralised coin which means no one can control it.The price can be decided by the supply and demand so if the bankers can control the demand of bitcoin they can control the price but it is most likely will not happen because market cap of bitcoin is too high so it is impossible to control it completely.

They can just kill it and we are fucked, but it would be a big waste of money for them

I am sure bitcoin will be stable again as long bitcoin up and down but until now it is still successful bitcoin investors because they have high confidence will be successful to invest with bitcoin

agree, it is impossible for banks to run bitcoin exclusively, bitcoin holders are everywhere, no papers, no documents no reference, how would they use bitcoin, they have no idea how much bitcoin is out there in the internet, they do not have the capacity to hold huge amount like that, holders are anonymous and encrypted, who will they call, you are right, the essence of bitcoin is the holders privilege over their on money. bitcoin would not be created if banks has the control over it.   

Many banks in the world have accepted and acknowledged bitcoin as a means of payment and deposit as well as a reserve of bitcoin as a new economy, so now is how to get at least 100 bitcoin for descendants.

This statement is 100% not true.



Again, totally false. Bordering on lie if the OP is try to deceive us.


People would abandon Bitcoin and move to Bitcoin Cash, Litecoin, Ripple, Monero, Dash, etc. That's the beauty of it, the bank can't control them all!

It would be bad for the bitcoin users when banks started to take control of bitcoin. There will probably a much higher transaction fees for its users. But also, altcoins will benefit from this because it will reduce the risk for its company and investors.

I just want to start by saying. It's impossible for Banks to take control of Bitcoin. In order for that to happen, they must Hold, over 50% of the entire circulating supply.
So Unless the banks open up the world best mining farms right now. It's... yeah I'm going to say impossible.

Secondly, the banks already have their Currency of choice.. That would be Ripple.
That's why I can promise you that you're never going to see Ripple at $10

if banks take control of bitcoin, surely bitcoin will not anonymous anymore, bitcoin price will be under control of banks so the price will be stable whole time, finally we will all be taxed when using bitcoin, i personally wont accept this and will leave bitcoin forever.

Well, first it is not possible that anyone can take control of BTC even super power countries while if such happen then BTC will lose all their customers because Bank will start accepting taxes on BTC while also price will lose their volatility property due to which trader will stop trading with BTC and BTC will approximately go to end.

It's just not possible for any singular entity to seize control of bitcoin because it is decentralized and it will take everyone of us to surrender it to the central authority which i strongly doubt but the worst they could  do will be  to make it difficult  for everyone to use by setting up laws against it's free movement among several jurisdictions around the world or they will have to switch off the internet worldwide.

The essence of bitcoin being decentralized will be gone. As we all know the decetralization aspect attracts many to invest bitcoin. And the main purpose if bitcoin will no longer be enjoyed. People want to be anonymous which will sure be gone if banks take charge. People will then lose interest on bitcoin. But will that really happen? Posibilities are there but only very minimal. I still doubt for that to happen.

fuck i think I am the most stupid guy ,Iguess report is reply .and then I report 8... sorry
 

Is it really possible for the banks to control all of them?

If bank control the btc it is centralize already oligarch can dictate the price and manipulate the the market of cryptocurrency.
But there are good side though government most likely will not harass the cryptocurrency because tax will easily implemented as per the bank laws.

I don't think that is possible, because Bitcoin was created exactly for this reason, be independent and  decentralized crypto currency
If for any reason this should happen, i think that more than 50% of users it will not use bitcoins anymore

Bitcoin is part of something called, Crypto currencies. If the Banks buy all available bitcoins and this become public knowledge, then people will either create a new "Bitcoin" or use one of the other Alt coins out there. The Banks know this, so they created and developed their own Blockchain technologies or they simply influenced current Alt coin developers to help them. <Ripple is one of those Bank puppets>

We also have ex-Bitcoin developers, working for the Banks now. <Mike Hearn>

No one can control it because BTC depends on market fluctuations

WTF this kind of question, seems you don't know what crypto currencies is, what it does and who develop those. Control of WHAT? better to get afraid of Big whales and countries who holds a huge amount of BTC if they're really exist.  :D

until now I have not seen anyone can control the bitcoin including the bank.From terms of price it depends from the power of buyers and sellers to form a price, I think the bank can not do anything against bitcoin.

Bitcoin is a digital decentralized platform and will remain that way until the last halving. As for the banks, yes they can affect the dynamics of the Bitcoin but it is impossible for them to control it. Yes, they created XRP because they believe it could take over the crypto king but the blockchain is way too distributed to be able to do such manipulation. As long as many have more faith in BTC than XRP then BTC will remain untouchable.

I don't know about this and not think too much. it is better to stay focus on collecting more bitcoin than thinking about that. but I think they will make some regulations for this and they will force us to register our wallet address so they will know how much our bitcoin amount and how often we send our bitcoin in monthly. they will try to control bitcoin and somehow they will use their source to know more info from bitcoin owner. maybe the time will come to see this thing happen.

How could bank or any other financial institution possibly control bitcoin? This makes no sense, as well as this question.
They can't control the system taht is independent and decentralized. Maybe you are mixiing that with the fact that some banks are expermenting with bitcoin and trying ti use it for their benefit. But this is not the same as controling it.

Hello......

I think , it will be difficult to bank control btc & all cryptocurrency.

Because, many countries think it was ilegal..

Well , if those really happens...

Bank will be use tax for all your transaction in bitcoin , they'll make rules about minimum & maximum price to buy either sell your btc ( with tax offcourse)

It's just my opinion.m.
CMIIW,Please.. ☺

The price movement is normal, it's because most of people only take their profit in form of bitcoin or fiat. Although there are many altcoins which very expensive but we still cannot used it directly in our real life. The only one way to control bitcoin is by own it, so bank need to buy bitcoin to control it.

If big banks are hoarding Bitcoin for it to pump then we will see know difference as to what is happening to Bitcoin today. This is what big players or whales are doing now except with the participation of Banks we must expect that Bitcoin will be moving up much higher moving down much faster as banks are financial institutions they have the money to influence the market. It might be a good opportunity for us small players as well as profit taking can be much quicker as the price moves faster.

It will not be very good think, if banks will control bitcoin they will fall into banking regulations, and there will be a lot of linked difficulties. Today I don't thin that it is realistic.

I don't think if just had a typo error " If BTC goes down, the ALT goes down". As some altcoins are not affected by the trend of Bitcoin price in the markets. They don't fully relied on Bitcoin. Perhaps, they develop unique and innovative features to overcome possible prolonged of price in markets. Nevertheless, some altcoins nominated to be centralized and can be controlled by the banks but can never be done the same with Bitcoins.

Exactly.
If anyone knows just the Slightest bit about Crypto Currency, they will realize that the WHOLE DESIGN is based off being decentralized.
Asking that question of "What if" isn't even a logical question.
There is NO "what if".
It won't happen. It can't happen. Like. The word "Impossible", does not even begin to describe it.

rapid development bitkoyna - a clear confirmation that in a natural environment without restrictions, the financial industry can develop much faster. But banks always limit freedom. And if they take control bitches under their control, this will lead to the fall of bitcoin itself, and I would not be surprised that there will be a large percentage money by the bank...

There will be no more decentralization if banks takeover cryptocurrency specially bitcoin. It is against the white paper of satoshi nakamoto.
 Because they are afraid to lose these money with whales that can make the price pump and dump. Unlike in bank, they can control every money circulating in the bank.