Bitcoin Forum

We both know the purpose of bitcoin creation was to give people financial free and liberation from the government which is the reason why it was decentralized in natiure. But, lately more banks are stepping in into Bitcoin and block chain despite they knew Bitcoin and block chain systems are their competitors.
The question is should we be happy or stay alert because of some foul play?

Happy and alert at the same time.

Few years ago majority of the people in the community are telling that it will take over the banks and probably eliminate it. And I guess those words are becoming in reality right now and these banks assess that its possible to them.

They haven't found a way to beat bitcoin and instead of competing, they are joining.

will,in this situation we must stay alert,of what maybe happen in the crypto in the near future ,because we already know before that the banks is threaten from the coming out of block chain and bitcoin system,thats why ,otherwise in my own opinion there is a good and bad effect of bitcoin for the stepping into the crypto worlds,because maybe it is the threat or good to the worlds of cryptocurrency investment.

People must always have a backup plan and do invest only upto the risk you can take it. Do not go all in crypto considering that every time you will end up making money. If market do not follow what you expect and falls then you end up losing the money and may be you would have to suffer if you were depend upon that money only.

Both. Be happy that they're acknowledging blockchain technology, and at the same time be alert and skeptical on what their true motives are(not only with banks and the government, but with centralized entities in general). Just like with the recent news with Mastercard, whereas they issued a patent for them to artificially inflate the supply of bitcoin to 210 million BTC. Like what the hell LOL.

Read: https://www.ccn.com/mastercard-wants-to-patent-a-fractional-reserve-cryptocurrency-bank/

we may be happy with it, but we must be more aware of the dirty game. For dirty games to fail with the beliefs of the bitcoin holders, in fact they still cannot drop bitcoin which continues to improve because they are only a small number of people who don't like the many people who support bitcoin

Be happy but also learn to observe things around, for you might never know what could happen while you are busy being happy by having bitcoin. While the banks and the governments are slowly acknowledging bitcoin and making their own moves to utilize it, I'm still not that concerned about this unlike everybody. Personally I see this as a strengthening on bitcoin's stance on the economic world since if governments and banks see something in bitcoin (blockchain) and cryptocurrency in general, why should the normal people be scared of it in any way? Though as I said, stay observant since there are cases in which good things most of the time turn out negative in the bitter end.

Ofcourse stay alert and monitor from time to time about the development of the banks  adoption of bitcoin, it's scary news, always be alert about the government for Bitcoin regulation.

Satoshi's creation broke a dam, and it is impossible to stop the raging current.
New ICOs are springing up constantly as everyone wants to understand and utilize the blockchain technology.
Bitcoin was created to be decentralized. And the banks or governments can not change that.

The blockchain technology is a technology that can be adopted on different scales and adjusted to suit the requirements. And banks are not excepted.
It's a step in going main stream and would make people more familiar and comfortable with the term cryptocurrency

Adaption of Blockchain by Banks and Financial Institutions is very positive to me, and I don't think they will be able to centralize BTC, theu are just offering Trading, Custody, Crypto Backed Loans etc. We need to stay away from Bank Traps (KYC etc.) and uphold our financial by circulating BTC more and more.

You should just not play along ith them. They still need you to make use of all the services they're offering.
For god's sake, keep all your coins on a personal wallet. Use decentralized exchanges as much as possible and consider buying stuff directly with crypto instead of converting it to fiat.

Banks are free to offer as many services related to crypto as they'd like, Heck they can buy as much crypto as they want, just keep in mind that you don't need them.

I supported what sunsilk said because the banking sectors are one behind bitcoin restriction in Isreal, some Africa countries etc. However, government, the bankers and the senior regulators have both once try to eliminate bitcoin and said false things about block chain but now they are joining the course of which the chance that will totally support crypto sphere is 50% and the chance of their intention is also 50%.

Well, it's a decentralized currency but unfortunately or fortunately, we need to be realistic that for mass adoption there have to be regulations, otherwise there would be so much tax evasion and money laundering that governments and countries would go bankrupt because human nature primarily is greedy and selfish. I think we need to understand that these regulations actually help us in the long run and help all the coins, along with Bitcoin moon in value because they will be rendered as an asset class soon. This is huge, so we need to take the bad with the good and try to derive something positive form Govt regulations and not look at it as all bad.

Yes ofcourse we need to be happy as always through face in real life and throughout the real happenings in crypto world. But we need to be alert and focus from the people who played very foul. Because it's not fair enough for us to get play when some people doesn't have to be lie.

Happy or Stay Alert depending on the circumstances in which we are. If the situation is safe and very beneficial for us, of course we will feel happy. But if the situation where it feels very disturbed and harms us, it's time we feel Stay Alert.

Of course, the banks feel good competition from the side of bitcoin and blockchain and it is very uncomfortable for them! But it seems like bitcoin will win just because it gives a lot of agvantages and opportunities for its users!

IMHO bitcoin/blockchain isn't a competitor to the banks or to the government
Any government can simply ban the bitcoin if it's viewed as a threat to their long standing financial system
The bitcoin is simply a means to financial freedom and most governments won't stop their citizens harnessing what the technology has to offer..

The blockchain technology is the backbone of this technology,as well as the reason for it's speedy growth, it's method of operation is unique and stands out, the more reason why it's being adopted by banks/governments..

We can only but be happy about how far we and satoshi have come, and imagine how well this system will be in the next few years..

I see no foul play

Of course we need to be aware because it is our investment and we need to know all about it and would not be in a wrong situation in the future.

we must remain vigilant about these dirty games, this can affect the price of bitcoin. this is something that investors and others are aware of. so if you think about whether we will remain silent if you see the dirty treatment of bitcoin, this is a disadvantage. but happiness can come for us if the dirty game has a low price effect and can buy large amounts of bitcoin.

I think you are wrong, the Bank is only interested in blockchain technology not Bitcoin
because Blockchain has unique features so they intend to adopt and implement it into their system to make Fiat better so my answer is "Stay Alert"

Obviously that's something to look forward to in the future but being alert should always be a part of your strategy when it comes to money. A lot of things may and will happen unexpectedly so we have to always be on the lookout.

Nothing to worry about. Banks cannot have control over bitcoin. We are always free to send bitcoins peer to peer without any 3rd party.
Some banks might interested in bitcoin. The only thing they can do is create a new cryptocurrency. Nothing will happen to bitcoin and other existing cryptocurrencies.

What's important is that when banks adopt blockchain and perhaps even bitcoin, the latter doesn't really become dependent. People can still use it like before, they are not obliged to perform everything through banks once they accept blockchain. Governmental regulations are more about preventing money laundering (and I am pretty sure Satoshi would not be against it) and putting taxes (that's kind of sad, since money should not be taxed). As long as cryptos are not banned, it's fine for me. I mean, surely it's better if banks adapt than if they try to fight it.

Banks will adapt to Bitcoin as well. Exchanges currently scoop up so much in fee income, that the largest exchanges generate more profits than some large legacy banks, which is something they for sure want a piece of.

Banks have the best possible chances to accomplish that with how they can allow people to instantly buy crypto out of their own pool of resources, while with exchanges people have to wire money first, which takes days.

No way banks aren't already in the background working on this. They are businesses out to increase their revenue and profits, and what else than the booming crypto market will allow them to capture that exposure?

if in my opinion. we must remain vigilant when investing in cryiptocurrency bro. and be careful when choosing the coins we will buy. or save assets in the long run.

Do not invest all in bitcoin because when there is risk you will lose everything and suffer from homelessness, poverty

your goal of investing in BTC is very good, BTC is the best coin, look at the market price table that BTC prices are always first among altcoins. get ready to become a millionaire in the future, you need to remember for you not to sell when prices drop, you should be confident in BTC and keep your BTC.

we must be happy at the same time we have to stay alert to this bank's decision. for the sake of the moment we must be happy with the bank's decision to start using blockchain technology. this is a sign that crypto is able to collaborate with conventional systems, let public trust grow first. but as a community we must remain cautious, stay alert, banks for any reason will justify any means so that their position is irreplaceable. the independence of the crypto industry will be tested at that time. Conventional banks will not be so easy to let cryptocurrency grow rapidly, in the future we must escape from their shadows.

Of course, we must be vigilant and careful about banks that have different systems than Bitcoin, but, I think, some foul play will not be able to influence the value and existence of Bitcoin.

banks will get bored and give up to give bad effect to bitcoin, finally, there is no other way, unless banks have to adopt bitcoin and force the government to make regulations.

We should be happy and stay alert about the situation. If they are playing some foul play, we have to play with them but be careful of playing cause of is risky. Though some are stepping to breakdown bitcoin but still there are many that supports and still believe on it to recover. We have to follow the flow and get an opportunity before it recovers on the market.

Definitely we should be happy but not to be too happy because it's risky in the sense you have to be at alert at all time most banks steps backwards in which one don't have to enter a wrong hand. I believe this current situation won't last for ever I believe bitcoin will grow more and it will make a difference.

Well if banks and other financial institutions adopt bitcoin/cryptocurrency then that shows that the network is growing on a daily basis and also will help to bring mor adoption, but the fact is any involvement of banks and financial institutions will further lead to the centralization of the cryptocurrency world which is not in the original intent of the developers which is to provide a payment system which will be free from every third party involvement.

The foul play has not even started yet, because we do not have even one recognized Government coin yet and the Banks have not launched their own private Blockchains yet. The R3 Banking Group are working with Mike Hearn <former Bitcoin developer> to develop their own private Blockchain based technology and they will launch that in the near future.

The foul play will come into play, when Governments will work with these financial institutions to legitimize their technologies and ban other Crypto currencies.  >:( >:( >:( >:(

I agree, banks are definitely interested in the technology being used on cryptocurrency as it has been probably observed that it could make the banking business transactions more competitive just like with cryptocurrency. Using the blockchain technology in the banking system would gain more advantage to the bank investors where it could have the same results with cryptocurrencies payment transations which i more faster than bank transactions. I believe that anonymity may not be adaptable to the banks as it requires KYC unlike cryptocurrency does not require it. I don't think that people should worry about it since there is no need to where I think it has no great impact at all.

We should be happy because banks have begun to feel rivaled by bitcoin and spurred them to adopt blockchain technology in order to adapt to today's digital developments. Therefore, we must continue to support bitcoin and its technology by continuing to use bitcoin so that this technology becomes the main one in the financial world in the future.

We should be happy and stay alert at the same time. we should happy because they finally realize the advantage of bitcoin and step in into Bitcoin and block chain but also be aware of they action. we don't know exactly what we wanna do in crypto world.

if your investor in bitcoin you should be happy about it
maybe its the start of adoption before it go in mainstream

first of all there is a difference between using the blockchain technology and using bitcoin. the former is the technology and when using that they will be creating a centralized altcoin which has nothing to do with bitcoin and its future. the later is using bitcoin directly and although I have not yet seen any banks actually do it but they will do it some day which will be the point two:

secondly banks are only services providing some services that people use. it is not something to be worried about or think can change the course of bitcoin decentralization. we already have some bank like services such as Coinbase and Bitpay and there is nothing wrong with that.

They are also the one that's behind the ban of crypto's on India and that's why people who are in crypto's there can't move freely. With their intention, I don't think that the chance is only around 50% but it's sure 100%.

They are into financial industry so as long as they know that they can profit on it, they would do everything and adopt it for their own purpose. Though its like two birds with one stone still it will benefit the crypto market if ever most of them are into it.

Probably they do it because they want to grow with technology. Maybe they just want to be friends with the blockchain, not competitors ::)

To start with , blockchain , cryptocurrency and Bitcoin is really a big thing to have happen in our life time and I believe many will still miss the opportunity and we that are in all know that cryptocurrency is very volatile in nature so be it foul play or not it is always good to watch our portfolio and also set stop limit in case of sharp drop in price .

I think we can let the banks do their jobs and if they want to make the blockchain as the competitor, we cannot do anything. But the banks will know that they have something that they don't have compared with the blockchain. And soon, the banks will realize that they need to integrate their system with the blockchain itself. We should be happy and stay alert because with doing this, we can prepare if something bad happens so we can save our assets and our money and we don't have to get the bad experience.

The main purpose of bitcoin is to facilitate the financial systems and to eliminate the monopoly of some institutions so we should alert for their turn but it has recorded that bitcoin will will rise more in the coming era and those who are now in bitcoin they would be more rich than those who would then join and i am happy with it's present value and the true picture of this currency and it is the main investment strategies of the wise investors just buy and use it for online casino and betting if you want with out any trouble.

    The rescent happenings in the world of crypto was acceptedly being a foul play which we should be more competitive and wise enough dealing this kind of game. In order to achieve the great thrives, we should be alert for the enormous profits we could gain when stability has occur.. And I believe that blockchain will develope bountifully and bitcoin will excel promisingly by the near future.

 I think we should be alert in the presence of downtrend, alert in terms of playing this game, as it was been part of the essence on gaining the success. And it may also be a good aspect so we could take advantage and deal with it fairly.

I don't know, this question can be answered with both option, happy, and stay alert because something can happen in bitcoin world and I think we should happy and stay alert in the same time. am I right?

We remain vigilant about this, for the security of our assets and for the future, so that banks feel rivaled with bitcoin. Bitcoin will remain good and will continue to grow, I think the bank will start looking for loopholes to be able to work and provide benefits to its customers.

I am happy with the financial freedom that Bitcoin has given me but I also remain vigilant so as not to be emotional about the bad news about bitcoin that might be from some dirty game and threaten the peace of my soul

I hope your message will not only stop in this thread or even just in this forum, i hope it spread like a wildfire. what I'm afraid of is something like this, they are like pointing a gun from the front while behind us is a chasm, so we can't help but have to follow where they will take us. it is not impossible that they will popularize cryptocurrency in the community but they will force people to use their pla (http://rumahmu.com)tform.

In my opinion, no foul play should prevent you from having your plans and intentions. To my mind, you should think of the happy life with the possibility to earn good money with time by investing in crypto

I think we should be alert but I doubt the banks have foul intentions for adopting blockchain technology but it's only time that will tell.

You definitely don't do any research or stay update with with what's going on in the crypto sphere before saying I'm wrong concerning some banks interest in Bitcoin because the last time I checked Chase, BOA and Citi Bank were actually involved in Bitcoin.

Both of them , because we don't really know the real intention of the bank to try to adopt, and I don't think the intention is to spread awareness and to promote crypto at all, but it will have some effect on crypto, if the bank try to adopt crypto,it will increase the investors' trust

Youre right when you said more investor will trust in crypto currency which I think Bitcoin ETF alone is enough to do that.. In Israel the banking sector were the one behind the Bitcoin  restriction and for banks to get much involved in Bitcoin could lead to the act of making Bitcoin centralized.

We must remain vigilant because they are commercial institutions that will certainly do various ways to bring profits even if it require victims.
They are few but they a (http://renovasi-rumah.net)re powerful, they also have smart people and maybe also governments and other world financial institutions.

We should feel both at the same time. Unfortunately i can see that the bitcoin went out from its purpose.. The rich people and families and banks using the bitcoin for their benefits. We (the small investors) usually lost money and they always have the winning hand. Sadly i can't see any cure for this big problem.

I am glad that these government institution are beginning to acknowledge bitcoin.  I don't mind them regulating stuff with regards to cyptocurrency, I can see it as steps to remove fraud and scams in cryptocurrency sphere.  Besides if they are here to tax us, I do not object.  

Banks have seen blockchain tech as innovation, so they will definitely jump to it sooner or later.  As for them getting involved in cryptocurrency, it is all business and they saw cryptocurrency market as very potential business.

All have their own plans, but future plans must have meaning and always be vigilant, because we also have to have reserves in the future.
So to make investments do not have to be fully spent, but also need to be supported as guards if they experience a decline.
And they will not feel disappointed if their long-term investments make a lot of money.

Ofcourse you have to be alert of some foul play. Because if your not alert you will be loosing everything in this world.
Some people used to do the foul play purposely because their work is to do the same.

Same in my opinion happy because they know they cant beat bitcoin in the future thats why they collaborate on cryptocurrency but stay alert because if banks hold a huge amount of BTC they can manipulate the price.

I think we should be happy, because at least crypto legalization can have a positive impact on the crypto market. and we hope the government can make regulations about crypto.

and that will make BTC create a good stability, and can protect every investor, even can minimize crime with using crypto.

Well we must be alert because once banks can step up in the world of blockchain and be able to know the weakness of it most probably they can create a plan on how to bring it down.There is also advantage if they would study on how to use the blockchain technology and combined with banks concepts,there adoption happens.