Bitcoin Forum

I'm not a religious person, but this sounds good:

Therefore all things whatsoever ye would that men should do to you:
do ye even so to them: for this is the law and the prophets

I don't believe for a minute governments and banks are protecting the common man.

They've set out to destroy their competitor, Bitcoin, and they're doing so by regulating it out of existence and spreading FUD.

I wish we could return the favor.

Don't forget why we got into Bitcoin in the first place.

Remember the 2008 crash, the LIBOR fraud, the rigged forex and derivatives markets, the RBS GRG & HSBC scandals and the inflationary monetary policies to bail out the TOO BIG TO FAIL banks.

That is an interesting thought, but the playing field is uneven. In terms of FUD, the big banks have deep pockets and can afford to put out a narrative highlighting the dangers of cryptocurrencies. Supporters of crypto can put out a narrative on social media, but it hardly matches up to an organized campaign.
In terms of regulation, the difference is even more stark. Regulators and big banks are in bed together, and it doesn't take too much effort for the views of bankers to be reflected in the views of regulators. A few independent regulators may recognize the advantages of Bitcoin, but that hardly makes a difference.

The bitcoin community is not ready to fight. Each person cares only about their profits. We have no coordination. Bankers and governments are working according to a clearly established plan. They work as a team. By their actions, they destroy bitcoin and we can not oppose them. If you do not take anything to avoid the use of Fiat, we have no chance of winning.

We've lost sight of what Bitcoin is about and we've succumbed to greed. Instead of creating crypto only businesses we were too focused on increasing our individual fiat value. Too busy fighting each other instead of working together.

I hope more of us start to understand the situation.

This isn't necessarily true. Banks have different policies, and government representatives have different opinions. Most of them aren't very keen on the idea of letting Bitcoin be for sure, but I don't think there's any mass conspiracy to bring it down going on.

I don't dispute the idea that there are parties that are actively working behind the scenes to bring Bitcoin down, but if everyone was in on it, we wouldn't even be talking regulations, and currency vs asset, etc. -- we'd be facing outright bans everywhere.

People can do one simple thing to destroy the current system, and that's using Bitcoin. If enough equal minded people do so, it will take away the foundation the current financial system is standing on.

More realistically speaking, I don't see it happen. The majority of the people are too stupid and too happy with their current sloppy lives to force through any changes. People don't want to fight for what's right.

I however am doing everything I can already to avoid being a cash cow slave of this system. I don't borrow money, I avoid banks where I can, and the best of all, a large part of my wealth is locked in Bitcoin. :)

Even if the government tries to block all my accounts, make banks prevent me from creating new accounts, I have my own wealth that doesn't depend on central parties. That alone is a very powerful message already.

They are afraid a sudden ban causes revolts, so they're using a soft approach with the same end-result. Make no mistake, we're being surrounded.

Banks have convinced governments that cryptocurrencies are the root of all evil.

The problem is, crypto has only a few advocates to remind governments what atrocities banks have been getting away with. TOO BIG TO FAIL means we are enslaved by banks.

KYC/AML destroyed one of the defining features of Bitcoin: anonymity. It has nothing to do with preventing money laundering or terrorists. 99% of money laundering and terrorist funding is done with fiat! And then I'm not even talking about what causes money laundering and terrorism in the first place.

The next step is banning crypto mining because it uses too much energy. Guess what also uses a lot of energy: cars, planes, ships, industry. They could have invested in renewable energy research, but they decided to spend tax dollars on aircraft carriers and bombs.

We need to stand up. We need to fight for our rights and give the banks a taste of their own medicine.

I loved your optimism. This is one kind of thinking we should all have now. But I am afraid that we are not well organized and also we don't have such power to fight against banks and governments. So we can't do much. However, if majority of the bitcoin investors think like you today, we probably didn't have to see such pathetic price today.

Banks would want to destroy bitcoin because it is directly affecting their business and governments would want to protect the banks because they fund the various activities of government. The best we can do now is to keep faith on bitcoin and buy more at dip.

There are bans around the world though, and no revolts. Heck, China, which used to be one of the biggest Bitcoin markets in the world banned exchanges and ICOs and their citizens just folded. Crypto has few advocates because the user base in general is small in number; not to mention majority of these people are casuals wanting to earn a quick buck. I doubt the magnitude of a backlash a prospective ban might cause would be large enough to be described as a "revolt".

We also forget to mention one thing about KYC/AML -- it only applies to businesses, which are registered under governments, and are thus required to follow regulations. It doesn't affect Bitcoin itself. If you use Bitcoin like it was used in its inception, you may still enjoy your anonymity. You don't need to follow KYC/AML regulations if you don't use exchanges or use it in a registered business, after all.

I'm all for fighting for people's rights, but the us vs. them narrative doesn't help in my opinion. Give people objective facts, and let them decide what to do on their own.

I see the whole bank and government issues plus the ban fud as the challenges that comes with an innovation. Change is always resisted. Both in government policies (Obama's health policy was fault) they are never allowed a breathing space until the benefits starts sinking.

Currency is just a more sensitive issue.

Likewise bitcoin, naturally fighting for it wouldn't make much to convince the world rather, the world would see it benefit and starts a massive acceptance leading the governments to adoption.

It reflects do to others what you want them do to you on every actions that we could do.
In relations to bitcoin merit do to stop ranking that is why some give smerit to others to give them smerit in return!

Damn right! Those bankers who we had to bail out with our taxes because they gambled our bank savings away. This won't happen on the blockchain, we must do our best to get bitcoin and altcoins out into the mainstream and take back control of our finances.

This is one big reality we supporters and lovers of cryptocurrency should be facing. The force of the government can be too much to bear because people have no choice but to listen and follow what the government can say and enact. There will be regulations either using the existing laws or ones to be yet created. To say that Bitcoin or any cryptocurrency for that matter is decentralized and can not be touched by the government is technically correct but in reality the perception on the market can be affected even by a single pronouncement by an official or representative of the government.

Maybe you are right, maybe doing the same they are doing to us is out of our league. Maybe we should take the moral high ground, not stooping to their level.

There is something we can do right now. That's spreading positivity instead of negativity. I know I've been guilty of that too.

Look what's happening. There's definitely an orchestrated effort to chill the crypto market. Banks telling politicians what to do. Journalists paid to invent FUD. It's reposted, retweeted, rephrased a million times. A whale dumps and a thousand smaller traders follow.

Why can't we do the same, but in the opposite way? Contribute in a positive way to crypto. Start a business. Influence your representatives or even start a political party, cause whales to buy Bitcoin and sway the opinion of grumpy no-coiners.

 

You are right, I believe that is what others are doing putting up a business that accepts bitcoin as one way of mode of payment, actually we cannot blame those who are just after the profit, it was insisted in their mind by the blogs/articles that they are reading. I hope that what you think will gonna happen.

Even though there's no solid coordination, no bitcoin user would let the banks and government win. The banks and government are still under the mercy of their consumers and without them they won't have any power. There's still a chance of winning -- boycott may be a way. Judging by the level of support which bitcoin has, it would be enough to stand against the financial institutions. Maybe we can't fight fire with fire but instead fight in different ways such as conquering business and finance sectors.

Really not surprising for us people to follow on what government do say.We do follow them ever since because they are the ones who do mandates laws and other decisions towards into a certain vicinity. Violate? Then expect you would really experience consequences and now talking into banking sector then they would really have their support since they do know that they are regulated and benefits is there and why cryptocurrency would really give negative impressions to them.

But i think not all banks are against Bitcoin that all of them want Bitcoin to be eliminated because here in my country our Central banks are very supportive to Bitcoin in which they allow our major banks to be in partnership with our local exchange that we can use their cash out facilities anytime and anywhere every time we cash out. With this hospitality that given by our banks to us i could say banks are not really united of their stand against Bitcoin existence.

As of today, majority of the banks doesn't want bitcoin yet as they thinks that investors here in crypto are just manipulating the price and it has sort of impact with our economy. But here in our country, there were some banks who are considering to have bitcoin as part of their daily transactions.

I like this thought that came to your mind and this is what also I believe in my life. If you want others do good to you then do good to others. But that's the basic thing that the banks will do and as well as the government since they are a business entity and they want to make enough money through it. That's how they make money and if there is something that is a threat to them they have to eliminate it but the fact that they can't do it with bitcoin is what they have to accept.

And can't we say as cryptocurrency investors and developers that Bitcoin is our business? We too have to protect our business. That's why we have to stand together instead of fighting each other. We have much bigger enemies.

If you say so, but I strongly doubt that. Bitcoin is an immediate threat to central banks as they are issuers of fiat money. Are they supportive of Bitcoin or of blockchain for their own benefit? There's a big difference between those two.

Bitcoin been part of daily transactions? I dont think so and i dont know which bank you are preferring to since there were no banks that do directly made a transactions which do involves bitcoin.It is possible but on indirect way.Its not really surprising for banking sector to oppose into crypto because they do know its capability and tendency of possible effects if citizens would make such transition.

Crypto is just a pain in the ass for banks, unless they can somehow profit, like get an edge over other banks and steal their customers.

There are a ton of laws and rules for banks so of course they don't like to see a parallel economy that doesn't have those annoying laws and rules without them in it. Maybe they're just trying to slow us down so they can catch up, but it doesn't really make sense to copy the same laws and rules they prefer to escape, unless they do it to destroy crypto.

Well, there are things that we want to but we cannot control just like the mindset of our government and some other people, what matters is ourselves doing the right thing, so better to just do for the goodness of ourselves and for other people, don't let greediness live in our life.

He is probably just referring to banks making use of, or researching blockchain as technology -- people in most cases don't see the difference between Bitcoin and private blockchains. I don't even think any bank is legally allowed to incorporate crypto in their day to day operations. We all know how far away Japan is in terms of crypto progression, but their financial institutions are still not allowed to get involved in crypto directly, other than them just offering banking services to exchanges and whatnot. I think we may need a few more years to go by in order to see financial institutions actually make an attempt to expand their core operations. Governments definitely take their time with updating their regulatory framework, which (as user snark pointed out) might be done so on purpose after all -- the longer it takes for them to come up with regulations, the slower the growth will be, and the easier it will be to catch up. I strongly believe that China's sanctions against crypto are related to that principle as well, and for that reason believe they will be back.

In general, I believe in " KARMA ", this means who does bad for someone or something ( like, Bitcoin) , returns to him more badly, so there is always divine justice to everything you do and  especially, if it is so bad. Furthermore, it is true that the governments  have tried many times to eliminate or destroy Bitcoin and other cryptocurrencies  through many attempts and different  ways. Luckily, it always fails to achieve these bad goals because the era of bitcoin is very secure.

As a matter of fact, I think the "KARMA" is coming to those governments, and they will have significant financial losses  in the future and particularly for the banks ( FIAT) and other field of economics  and it is certain that  Bitcoin will become more stronger .

That is right, that is why I am so sad whenever I am seeing someone saying and crying that they were scammed by someone or their account was hacked, well, I believe in that too that whatever you've done to someone whether it is good or bad it will back to you more than you did, so just make positive always in people.

This is one of the reason why Satoshi, created bitcoin anyways.

Of course, they are really out not just to destroy but eliminate those that threaten their very existence, cryptocurrency. However, do they think that we can really destroyed those old aged traditional banking system?

I guess it boils down how they lost potential clients or banking clients who suddenly moves to crypto to store their wealth. They are losing billions here and the only way to stop the onslaught is to attack the enemies by creating regulations through FUDs.

But look at how they love blockchain technology. How ironic, the same technology that powers bitcoin and other crypto.

Yeah that's right, we have to protect our business/investments/digital assets. Bitcoin is now not just a coin that we can flip and throw in the wishing well. It's now part of our lives and every satoshi that is coming out from our wallets are very much important. This is why those banks can't really stand against bitcoin even they are planning to take down bitcoin, that's what I said that they have to accept the fact that they can't take down bitcoin easily.

" It hardly makes a difference!!" - This is the thought that stops us from even taking a step forward. I'm not saying that you're wrong, my point is that if we will not even try or take an initiative in this direction, then also the things won't change. Then isn't it better to at least try ourselves to our satisfaction instead of remaining complacent!!

The difficult task here is to build up a unity among ourselves, we, the members of the community, we need to awaken that feeling of Espirit de corps and come together!! Maybe we get a recognition somewhere or at some point of time. Maybe the small efforts that we make today prove to be beneficial tomorrow.

P.S.: But maybe, it's just another maybe!!  :-\

I have to be honest. We are making a lot of the same mistakes that caused the 2008 crash. Creating opaque financial products, taking on too much risk, selling a lot of bullshit, raising hundreds of millions for just a text document. In short: greed.

We have to take a step back and remember what Satoshi's goal was when he created Bitcoin.

All things do have boundaries which means banking wont really joint into cryptocurrency since they do have their own field.Usage and benefits is different but when it comes to technology then it can really be applied into banking sector which is really a great innovation to be considered. Accepted or not but these kind of regulations and acceptance isnt really surprising anymore.Government do have different views towards this which its up to them if they would accept it or not but on my side they should not really restrict or make prohibitions at all.

That is life, even in Politics, once the government approves your project or you are proposing your project to them you must bribe them or offer something, even in school you must treat always your professor or do something nice so that you can passed the subject, sad bu truth that is the reality nowadays.

Well, i don't believe many of us here in the Bitcoin and crypto currency community are having the same mentality as many are too selfish and self centre. In short there are FUD news carrier and they believe Bitcoin value should depreciate significantly in other for them to buy at the cheaper rate.

There's that too. It has become profitable to short Bitcoin and by extension it's profitable to FUD it.

I'm not sure the CME and CBOE Bitcoin futures are a big enough market to have an effect, but what about the futures on crypto exchanges like BitMex?

From what  I am seeing I don't think that what you are saying is true my fellow member. I have yet to see a shred of evidence that banks and governments are teaming up in order to destroy Bitcoin or any cryptocurrency in that matter. Evidence such as a formal legislation banning Bitcoin which until now no country has come up on creating one. Even other governments such as Venezuelan government has created their own cryptocurrency as they have seen the potential of it. Also other countries like Japan and Korea have their own crypto markets being regulated by their governments, that can be simply seen as support being given by the government.

Sounds great! Beautiful verse actually. Anyways bitcoin and government is not so called close for this two was not accepting each other even though the government recognize bitcoin but still it couldn't be the major of transactions. This things happening in other countries while in other hand some countries accepted bitcoin and practicing to make it as the future.

"Cryptocurrency and Blockchain associations in Russia, China, and South Korea are planning to file a joint lawsuit in May against Google, Twitter, Facebook, and Yandex for not allowing crypto-related advertising."

https://cointelegraph.com/news/eurasian-association-of-blockchain-to-sue-social-media-giants-for-banning-crypto-ads

I was hoping for large scale FUD attacks on banks and traditional markets, but hey, it's a first step.

Wow! This is a great news for all of us and will be a great help in pumping of the price because those who sold their bitcoin due to this reason will eventually buy again and will take risk again, hope that this will make action as soon as possible so we will all have a happy holidays again before year ends.

Capitalism still rules majority of our systems so its not surprising that profits now is the main aim. It would seem that most of the recent investors into bitcoin and other crypto see it as an "investment only" and nothing else. So yes they will lack the basic knowledge of why actually bitcoin was created in the first place. Now the banks are only worried or should I say "jealous" that individuals are able to make profits without them being part of the equation, after all banks are known to be the Kings of capitalism. 

What should we expect? Bank been here since the beginning on where government is being formed.All the things that would really oppose to their terms would really be considered as a rival and that's why I don't find anything surprising for them on doing such act against bitcoin or into other crypto.Only early believers which are the ones who do really trust and strongly believe on bitcoins tech when it comes to innovation.

Here's another approach. Disguising fiat as a cryptocurrency.

https://cointelegraph.com/news/china-to-develop-centralized-crypto-protects-yuan-against-non-state-digital-currency

Doesn't really make much sense in my opinion. But you can read between the lines: "the importance of protecting the yuan against unofficial virtual currencies" meaning they see decentralized cryptocurrencies as a risk. Which means we're on the right track.

Blockchain companies and organizations in three more countries join the lawsuit against Google, Twitter and Facebook for banning crypto ads. This is picking up steam!

https://cointelegraph.com/news/three-more-countries-join-planned-lawsuit-against-internet-giants-for-banning-crypto-ads

why is bitcoin protecting the people? seriously bitcoin is wasting a ton of ressources, for what? paying miners paying electricity consumption etc.

the banks have their mistakes, like they tend to store regionalist gays in them, that are difficult to work with thats why bitcoin has legtitimacy and value at all. thats why people support it, because it unreachable for the banksters and their police terror

I'm so blessed on your post. Yes, you are right, bitcoin cannot be stopped because this is what has been told. Bitcoin or cryptocurrency is what the Revelation means. The digital money

Does the verse mean that if they fight against us, we should pay them back? Because in Christianity, if someone slaps you on the right cheek, give them your left one. I am not going to debate this. But these governments are more powerful than us. Only few people can manage to fight against it. However, the majority of people are clueless and cannot do anything about it. I hope everything goes with bitcoin's side.

I agree. This is one of the golden rule: "Do unto others as you would have them do unto".  I don't think so. How can we even fight a bigger opponent like governments?


I have to agree with you that crypto specially bitcoin turns out to be just a investment platform which totally contradicts Satoshi's aim. Its been a store of value since the whales or individual with huge capital started to join the fray. As for banks, they want to be there, they want to be in where the action is that's why they are opposing or at least regulating crypto in general.

As bank and having a big competitor you would do anything to win. That's why banks and government are against cryptocurrency because it caused them financial trouble.  This is life there is winning and losing but the Scripture is right, do not do unto others you do not want them to do to you because every work has a karma.

As lovers of crypto lets just continue to unite for the unstoppable success of bitcoin.

Time will come that banks and the government will eventually embrace this kind of innovation especially when they have seen the potential income they can get if they add crypto in their business or if the government imposed tax on it.

Sometimes when you look at the circumstances around the society especially in the underdeveloped counties, one can just jump into this conclusion but for the highly technologically developed countries, the contrary would be the case. This is because they have almost everything provided by the society which the common also benefit from. They make their laws to work.