Will a bank being hacked boost adoption of bitcoin?

[jeffthebaker]

Short answer: no. Longer answer: Nooooo.

Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.

[techgeek]

Short answer: no. Longer answer: Nooooo.

Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.

As for the comment on bitcoin spiking, I think it would only spike if there was a huge level of cyber break.

Like on the corporate level and having funds being split off multiple ways which they cant trace or the hacker has a level of skill they couldnt handle.

But even then, the bank will always insure your money is safe since they have so much of it.

[HarHarHar9965]

Short answer: no. Longer answer: Nooooo.

Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.

As for the comment on bitcoin spiking, I think it would only spike if there was a huge level of cyber break.

Like on the corporate level and having funds being split off multiple ways which they cant trace or the hacker has a level of skill they couldnt handle.

But even then, the bank will always insure your money is safe since they have so much of it.

yeah man, bitcoin market is very sensitive when the volatility of bitcoin does not advantage them, then bitcoin is really bad for them but when it boosts, they invest even more. If any bad news comes up, btc market shakes up and eventually crashes down causing panic but when things work in favor of bitcoin, 1/4th of the % of people who leave btc, join it.

[lissandra]

No, It does not happen because banks are fully secured eg: central bank etc. So there is no need of adopting BTC..

Well technically the central bank supports almost all the largest banks, so in short we pay taxes to the private banks.

That money flows anytime through central banks and the central banks loan money to the actual private banks.

[jeffthebaker]

Short answer: no. Longer answer: Nooooo.

Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.

As for the comment on bitcoin spiking, I think it would only spike if there was a huge level of cyber break.

Like on the corporate level and having funds being split off multiple ways which they cant trace or the hacker has a level of skill they couldnt handle.

But even then, the bank will always insure your money is safe since they have so much of it.

yeah man, bitcoin market is very sensitive when the volatility of bitcoin does not advantage them, then bitcoin is really bad for them but when it boosts, they invest even more. If any bad news comes up, btc market shakes up and eventually crashes down causing panic but when things work in favor of bitcoin, 1/4th of the % of people who leave btc, join it.

I mean there is a reason behind this. A lot of Bitcoin traders use technical analysis- a strategy where you base your orders and transactions based off of actual factors (anticipating a price increase after Greece, and a decrease during XT debates, for example). In addition, you have everyone else who holds Bitcoin. Most people are hodling for years to come, but for weak-stomached investors, something bad could mean cashing out, at least partially.

[CryptoTrout]

banks fuck up all the time and no one ever does anything about it

[HarHarHar9965]

Short answer: no. Longer answer: Nooooo.

Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.

As for the comment on bitcoin spiking, I think it would only spike if there was a huge level of cyber break.

Like on the corporate level and having funds being split off multiple ways which they cant trace or the hacker has a level of skill they couldnt handle.

But even then, the bank will always insure your money is safe since they have so much of it.

yeah man, bitcoin market is very sensitive when the volatility of bitcoin does not advantage them, then bitcoin is really bad for them but when it boosts, they invest even more. If any bad news comes up, btc market shakes up and eventually crashes down causing panic but when things work in favor of bitcoin, 1/4th of the % of people who leave btc, join it.

I mean there is a reason behind this. A lot of Bitcoin traders use technical analysis- a strategy where you base your orders and transactions based off of actual factors (anticipating a price increase after Greece, and a decrease during XT debates, for example). In addition, you have everyone else who holds Bitcoin. Most people are hodling for years to come, but for weak-stomached investors, something bad could mean cashing out, at least partially.

and that is also quite understandable, bitcoin traders could really invest their time in determining price and making calculated decisions, afterall it is their investments, and being a little cautious is never too bad than being a little too risky Despite the speculation regarding price increase after Eurozone vs Greece and questioning the future of bitcoin with Bitcoin core Vs BTC XT, I think we all pray that our investments perform better

[Kaneki]

i guess if it happens it might be only a particular bank would lose credibility and not the entire banking system in the world's