Bitcoin Forum

Large corporations like banks have always had a large influence in the political field. As many members of this forum believe that cryptocurrencies are the future, there is a good likelihood that new crypto projects will undermine the power and high profitability of banks and political status quo. Do you think that one of the reasons cryptocurrencies have not made it mainstream yet is the result of large corporations making all in their power to keep the power to themselves?

real banks don't care, fiat, cryptos, commodities, what ever is accepted will be changed, collateralized and shorted :), for the fiat zombies it could be a problem but in fiat too... so no.

I think yes, one of the big factor why cryptocurrency is not yet in mainstream is because of the people behind the current system which mostly are big bankers. They will be affected in a huge way if cryptocurrency will be fully utilize by the masses. They only way for them to leverage crytocurrency is to integrate this in there system. Then that will be the time of better partnership with bankers and crypto.

Perhaps your opinion is correct, with the presence of the world of crypto taxation does not exist and this provides benefits for investment owners in enriching their property. But until now we know that crypto is not bound by any other person or company. Questions a rise and make everyone confused about the presence of cryptocurrency, but as long as crypto is still beneficial and useful for our technology then it is great for our lives.

I know that people here really want to continue saying that Crypto is going to be the thing that is able to take governments, politics, big banks, and so on and so forth down. But you really have to think about what you're saying, you're saying that our VERY SMALL tech is going to be able to overthrow trillions upon trillions of dollars of industry which has been created over hundreds and hundreds of years.

If we are ever something which is going to pose a danger to a politician, bank, lobbyist, etc etc. Then we're going to be crushed with regulation, bans, and so on and so forth.

The banks won't allow their grip to be lost, you have to understand that.

I second your opinion as we’ve already seen government action against crypto currencies.  Eventually it will be like driving down the road with 10k in cash.  The mere possession of that much money is indicative of money laundering and can be seized at will in the US.  Not a crime, either.  It’s mere civil forfeiture.  The burden is on you to get it back.  If it was 10,000 Bitcoin, you’d likely experience the same process.  Only an uninformed officer would likely lose all your private keys.  (Murphy’s Law).

There's also a saying if they can't beat crypto's they will join and adopt it.

IIRC, I believed on this before but later on I realized that "they" are still big to take and replace although crypto's are recognized by them now.

I think this is the main problem.If cryptocurrency comes in the main stream ,then both bank and gov. will loose the control from the finance , That is backbone for any govt. So they are not eager to implement this high value technology .

Cryptos and banks don't mix well together since cryptos require some transparency and politicians hate that.

Of course banks and governments are intimidated by cryptocurrencies. Average people don't really understand at all what happens in an economy. I don't understand that well either, but the way that centralized banks work it pretty messed up. As far as I understand, they create money from nothing and then loan it out and charge a percentage. This causes causes inflation or the devaluation of everybody else's money. I'm sure that banks will figure out some way to benefit from cryptocurrencies, but I have a feeling it might not be so lucrative. Cryptocurrencies seem to be based on transparency. Everybody can be rewarded if they help support the system. This is pretty different from our "traditional" economy.

There are many types of banks. Central banks will likely care but I don't think your run-of-the-mill private banks particularly care.

Government do not want to loose control under citizens, money emission - it is the function of government.
Decentralization - it is all about privacy and money control by persons themselves, not by government, they all are afraid of crypto!

I think that cryptocurrencies are the way to make world economy better, make it free and more useful for most part of people, but in my opinion, it`s really hard for big companies to orginize their activity with a new methods, and this fact suggests that those companies use their power to hold back "Renaissance" of cryptocurrencies

Government want to control some spheres of society live, for some reasons, security, ecomic development etc., but this control also makes some types of developmetn slower, and it happens with cryptocurrencies

Politics and cryptocurrencies is the main theme now. Increasing of role of cryptocurrencies at government level will be a large step for all of us.

I suppose that banks are currently trying to counteract the introduction of the cryptocurrency, since the reorganization of their systems will require significant costs

Each type of social relationship requires legal regulation to some extent. Such a large field of activity as cryptocurrency exchange also requires a certain regulation. But the states are not yet ready for this.

In the issue of interaction of authorities and participants in the exchange of cryptocurrency, it is important that the authorities want to fully monitor transactions, and participants want to act anonymously.

Politicians base their position on the fact that cryptocurrencies contribute to crime, but they dont speak that this is an excellent opportunity for a legal economy

Politicians care primarily about stability, but they forget that stability can be ensured not only by excluding the introduction of new technologies like cryptocurrencies

It seems to me that states and banking organizations, need time to understand the effectiveness of the cryptocurrency.