Bitcoin Forum

Do they? If you have access to infinite money, you just have to buy expensive and sell cheap. So you'll kill your hardest rival...

Not sure they care to be honest pal, they control to much in % wise, how much of the population even uses Bitcoin 1 - 3%

But yes if they did care they already control a massive stake but it's pennies to them hey 3 billion

Like you say: It's pennies for them. Whoever controlls money, controls the people. So what lays more beneath than all the people control all the money...instead of some centralized scammers do control all the people? Like Henry Ford said: If the people only knew....

Perhaps you can clean up your wording it is very confusing and you are not making your point clear. I think I get what you are saying but if you cleaned it up i think it would bring you point home.

Banks do illicit activities all the time in cordination with third party sharks and walles, they probably tried to do something with btc already.

there is very little money to be made in bitcoin relatively

Think about how much bitcoin is currently worth, then think about how much world any potential attacker is worth.

Then think about how many people use fiat, then how many use bitcoin. It would be a waste of time and resources. Doing this won't kill bitcoin either, it will dip and sag but will recover and stabilise.

That's right!
And bitcoin just limited not much than fiat in this planet.

Central banks have too much too worry about, like latest economic figures, fiat money supply interest rates, exchange rates. They do not care about bitcoin. They may warn people about bitcoin, not attack it.

Central banks do care about economics driven by fiat. If Bitcoin will became significant part of country economics then they will start to do some steps. They do not care too much now.

If I was the central bank, then I would have purchased a large amount in the early phase seeing it as a potential threat .
And would have dumped it now, to keep the price to very low value. But I don't think they will be able to eliminate it completely.

they are helping BTC with their printing press. even better  ;)

I think that we all know the answer to this question. YES.  The central banks need to maintain their monopoly and can't do that if Bitcoin starts to affect that monopoly.

Since 22nd of January the ECB has started their QE-Program, in which they are printing 1.14 Billion Euros. They try to stimulate the economy. Useless! Like you where a market seller, who doesn't sell his 100 apples and trys to stimulate his buisness through producing 10000 more apples. In the end we'll see, that nobody needs the stuff they produced with fake money and thats the point where the crisis will begin.

By end of the year, euro will reach parity with US-Dollar. Guess why Swizerland has ended the Franks-Euro binding. Nobody trusts in euros by now and they can't risk that the mainstream has an opportunity to get out of euros and maybe uses something like btc. With greek communists Syrica-Party at their back, who is willing to cut their debts, there is huge potential for the Euro to collapse. If Greece cuts their debts so will Portugal an then nobody will pay back his debts anymore...

So they have every reason to make btc look unattractive. Allthough, if the market starts to run into bitcoin, which i think is pretty much possible, there is nothing they could do to prevent this.

Yeah..It would be really hard to eliminate BTC..but anyways I dont think most govts have taken BTC as a threat as of now..no clue about the future..

I don't think the banks are that concerned about bitcoin, or won't be for the considerable future. I think btc certainly has the potential to worry them but I think it will always be a niche thing or will operate in tandem with fiat.

Why they should do this? it's nothing good for them.

Because Bitcoin has everything Fiat-Money has not. It is fast, cheap, anonymous, deflationary (maybe not at the moment).
It is something they can't control anymore, when it got big. So it's maybe better to destroy it while it's young and weak.

To them it might too small of an amount to call profit. Since fiat are being printed indefinitely they can always buy all the bitcoins. Maybe what is more important is seeing bitcoin fails more than anything else

But if they did 'destroy' bitcoin something else would just pop up in its place. If the people want bitcoin or a decentralized currency there is nothing they can do to stop[ it other than spread fear and fud propaganda to try put people off from using it.

They may do, because they loss lot of money by way of taxes (on fiat transactions) - as BTC transactions are not taxable.

I think the only way people can attack bitcoin is through the media/press. It's the only unguarded part of bitcoin because bitcoin is decentralized, which means there's no government shaking hands with the press to keep things straight and leave bitcoin out of bad press. Plus, it's so easy, too easy to bring a new-born currency to it's knees by frightening people with accusations of bitcoin's connection to black markets etc.

lol bitcoins 3 billion market cap is pocket money to them, it will get more interesting if bitcoin reaches a couple hundred billion market cap.

They really wouldn't bother.  :)

This is a good point i think. They need to see it fail. Destroying it only won't do the job, since another currency could replace it!

The Blackmarket-arguement is so retro. Like someone couldn't purchase drugs with fiat. Do the people still believe in this horror-stories?

Back in the day when we had a true free market (just a generation or 2 ago) the entire banking industry was less than 2% of GDP. During this time banks did not control anything are were a true service industry. In the past 50 years the banking industry has exploded to over 30% of GDP.
Libertarians across the board want banks reigned in by eliminating the FED who's artificial backstopping is the sole reason the banking industry is out of control.
Libertarians understand money and how banks control just about everything better than most. That is the entire reason Bitcoin first took off with libertarians.

Only as a scapegoat or coolness tool.

Financially speaking, Bitcoin is not even a blip on the lower digits compared to fiat masses and exchanges.

way less than 1-3 % uses bitcoins , just to make you aware. more like 0.01 max

Bitcoin is actually currently making banks more money, because there are many transactions happening, and the volume is insane, their fee is also.
Anyways when youre talking about bitcoins market cap, the ~3,8 billion market cap is just an estimate, realisticaly you wouldnt even get 20 % of that if u had enough coins to sell.
So the interest is yet too small to atract fear in some bankers, but with time it will become real, and the fight will then be without gloves, pure survival.

cheers

WTF are you talking about? EuroZone still is and will be the strongest and some of the wealthiest economy. And so will be the Euro.

They don't think Bitcoin is a rival.

To be fair, banks don't have access to unlimited money. And I don't think the banks see Bitcoin as a threat (yet). Afterall, nearly everyone that wants bitcoin has to use fiat to get it, which is the banks "bread and butter". If banks did see bitcoin as a threat they would just offer their customers access to it, they'd work it into their business so they don't miss out on the process. They have more to lose by doing something sneaky.

That can be argued both ways. Realistically, if you had $3.8 Bn and try to buy bitcoins, you may not even get 10% of the coins.  :)