Bitcoin Forum

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin?  Aren't they so wealthy that they own the whole world? 

Is there? Is there a threat? I think there isnt.. Its up to people now who will they choose.

Of course they are. But they need to first decide how much hash will each banker pay. This negotiation might take months or even years.
But on tte other hand also Bill Gates got fascinated by Bitcoin, so he might have plans of his own that will cross with bankers plans.

It will be interesting how the elites decide to handle bitcoin as it grows.  I dont think it can be "killed" by them though, not now that so much has been put in place to facilitate usage & acceptance.  I think they are still relying on the media to scare people away from using bitcoins

It depends on one's perspective. >> "The only thing a capitalist hates more than a communist is a competitor."

Bitcoin is an extremely dangerous competitor, it threatens their monopoly on currency which has been the golden goose for the bankster crooks for a long time.

There is a reason that every alternative non-government currency created up until bitcoin was swiftly stopped by FORCE, with extreme prejudice. They can't use force against a decentralized enemy, so they're shitting bricks. The smart ones are, anyway.

Not that it matters, there's nothing they can do. I said it once and I'll say it again, this game was over before it began. One thing is for sure, this is the last decade the phrase "money laundering" will be in use. That kind of twisted power over people is being taken from them as we speak.

Now that money is information and information is money, we can launder money in our brains.  There is no stopping this technology, unless they invent a time machine.

Great, so now they will all buy all remaining Bitcoins via mining monopoly and all for sale Bitcoins and we will go from fiat slavery to Bitcoin slavery ..

Ahaha. Worry not, they can't do that. It'd be political (and perhaps literal) suicide for them. Bankers abandoning fiat would be a betrayal of trust the people would never forgive. They're caught between a rock and a hard place here. As leaders, they have to wait until the masses start divesting from fiat before they can get away with it.

These scumbags have relied on deception and secrecy for far too long, that's over now. See, everything that happens on the blockchain is transparent. You can't secretly dump your fiat and buy bitcoin, because it pushes the price of bitcoin up (or the value of fiat down, which is the same thing, it's all relative).

People would see the value of bitcoin skyrocketing to the moon and it would create chaos and panic, worse than any bank runs in history. This would quickly destroy the dollar, robbing everyone of their fiat savings, which would surely spark a revolution from all the fiat peasants the bankers abandoned.

Trying to kill bitcoin by throwing fiat at bitcoin is like trying to kill a fire by pouring gasoline on it.

The bankers cannot kill bitcoin. They will be forced to incorporate bitcoin into their existing structures. I'm guessing it will be a very clumsy incorporation prone to all of the issues of centralization, but a lot of people will use it because they don't know how to make offline wallets or things of that nature..

That was a very positive article. When the IIF discusses Bitcoin it usually isn't negative. It's just a report on another financial instrument.

http://www.iif.com/download.php?id=aAj1bgPQxoc=

Good pieces guys, thanks.

I agree, I dont think they can kill it, but they can try to make it out to be a "criminal tool" and stop its growth, I think thats what they are currently doing.  I've seen some people post quptes and interviews from Jamie Dimon where he clearly hates bitcoin and bitcin users becasue its taking away from his precious banking system

Thats the problem with people. Where does he get off, thinking he has the right to control all of our financial lives?

The traditional banking system is like a parasite, leeching off of humanity by enslaving us all to endless debt.

Bitcoin can help.

Yes I think it is helping.  Breaking peoples mentality about money and ways to pay and be paid is key.  People should not be looking at people like Dimon for advice, esp. on bitcoin.  He is looking out for his million dollar paychecks, and all his 1% buddies, not the rest of the world

No. Absolutely not. Every day someone posits this idea, but no one has ever show a way to do it. Of course a bank could just start buying the coins, but that would drive the price up. Buying the network is not possible because anyone can use the network and own bitcoin. I for example will not sell my last bitcoin to the bankers for less than 1 trillion dollars. And even if they did the impossible and bought all the bitcoins it would not help them. Since they would be the only bitcoin holder their bitcoins would be valueless. So after spending trillions of dollars, they have nothing at all to show for it. And we would just move on to bitcoin 2.0.

Banks do not threaten bitcoin, bitcoin threatens banks.

Very cool way to look at it, I think you are very correct.  Even if they somehow found a way to subvert bitcoin, the concept of cryptocurrency seems to be here for good. 

Its seems the bankers are afraid that their complete control over the masses is slipping away.  I'm just surprised these bankers haven't been more overt in their methods of bashing bitcoin.

...............................................

Okay now I know your a shill.

Bankers (real money bankers) is very worried about bitcoin domination. lol

The ironic thing is that Chase is so against bitcoin, but yet tried to create their own version of bitcoin dozens of times, and every time has failed to get their patent. So only one thing is clear: they're no opposed to the technology, but rather just want the market share. Greedy as expected.

lol..  they gave Bitcoin made ​​a much of the publicity, but Bitcoin is not successful uprising yet

This would not be possible for another 100+ years until all 21million coins have been mined. Until then, there are 3600 new coins mined ever day so there is no way they will own all coins unless they have bought up EVERY coin in current existence, and have complete control of the hashing network.

Not if banking elites declared martial law in the USA. Now that's a game changer and it will force the big brother to watch you at all times. One teeny weesy trace of bitcoin from your computer = death penalty.

Then the banking elites will force everyone to get their hand chipped with RDIF (aka Mark of the Beast) with central authority. Those who refuse to be chipped with RDIF will not be able to buy or sell. They can simply create their own version if bitcoin and force people to use it just like they did with fiat.

Bankers just pay some reporters to spread fud, kind of lobbying now. 51% attack would need much bigger investment, not worth it now I guess

If that does happen, I'm just trying to imagine how that will impact people like us holding onto bitcoin  ;D
Since bill gates did put forward some positive comments, hopefully he will place some buy order. Or maybe send out some endorsement note would do. Or how about windows OS that comes preinstalled with bitcoin qt  ;D

Complete nonsense. No one is going to force anyone to do that under any scenario. I will back my statement with a fight to the death. And pay you $1000 if it happens. Maybe you think the government is not yours because you are not participating. But I make the gov do what I want, not the other way round.

LOL this is the funniest thing I have heard since the Banks went broke in 2008 and needed trillions of dollars in bailout money.
Wealthy? not likely, try broke.  So broke they couldn't pay wages.

However, even if they were "wealthy" as you put it, they cannot "buy the entire network" for any amount of money.
The reason for this has to do with demand for "people created money" more than Bitcoin itself.  People "demand" their own form of money now, created by them.
Today that looks like Bitcoin, tomorrow that could look different but one thing won't change, people have "had enough" of Banks and Governments being in charge of money creation.  You can't stop this now, the cat is out of the bag, people know they can create their own forms of money.
You cannot "buy" that idea from them, they will always know.
Hope this clears up your understanding about what Bitcoin is, and what it represents.
Bitcoin is Freedom!

Would we be able to get the minutes or like results of these discussiosn/etc??
Are they made public or anything??  :-X

@ Xiaoxiao

Satoshi weighs in on a discussion about some one trying to corner the bitcoin market.

https://bitcointalk.org/index.php?topic=242.msg2078#msg2078

they can't.
exchange only accept real money ... and not action or bonds.
and limit ... append  ;D

Are this only rumor or real fact which is really happened? I doubt that banking Elite are interesting to bitcoin, they love so much traditional currency  ;D

It is not a rumour!
They did not meet to discuss bitcoins specifically, but bitcoin was one of the topics discussed at the annual members meet of  Institute of International Finance.

In other word the OP ,was posting  nothing but sensationalized trash ::).He does have a track record of doing this. ;)

This is where their own arrogance is going to be their undoing.

They wont admit there's a threat until its way too expensive for them to do anything about it.

This is what we've been relying on the whole time.

The slow, growing, viral spread while the pompous asses think themselves untouchable.

-B-

lets them push BTC to 1k$ again

They probably could do it for only a few million bucks. Simply create a pool that'll eventually satisfy the 51% plateau, then once reach, fuck with a few transactions to disrupt the system, whereupon people will leave in droves. Then, the next time something similar arises, point toward Bitcoin's failed attempt to do the same.

Slow Illuminati is actually Illuminati pwned the bankers ^_^
Your move banking elite :P
But I guess they could just move a few billion dollars over lol...