Citibank set to destroy Bitcoin with Citicoin

[bitcoinbelieve]

According to this vid https://www.youtube.com/watch?v=KdIOrMYWBIY the citigroup is developing it's own coin

[harrymmmm]

According to this vid https://www.youtube.com/watch?v=KdIOrMYWBIY the citigroup is developing it's own coin

They will use their resources and customer base to paint a huge amount of lipstick on it, but it will still be a pig...

[Hollingsworth]

So like Bitcoin... but controlled by a bank and with outrageous bank fees.

Sign me up!!!!

[g3rszpi]

i dont think so that they create it to use it like btc.

[BTT]

i dont think so that they create it to use it like btc.

agree! The coin is just centralized one and totally different from bitcoin! I don't think it can compete with bitcoin!

[g3rszpi]

i dont think so that they create it to use it like btc.

agree! The coin is just centralized one and totally different from bitcoin! I don't think it can compete with bitcoin!

I"m not speaking right now about the technical side. I mean they created for another purpose, maybe some promotion where you can collect some coins and then buy something lol. Like at the gas station, where, if you collect an x ammount of points you can buy some whatever

[Snail2]

Such a centralized coin isn't really something for the bitcoin community. I guess that will be something for quick internal transaction processing, and will target their existing userbase.

[pooya87]

According to this vid https://www.youtube.com/watch?v=KdIOrMYWBIY the citigroup is developing it's own coin

an altcoin that is a copy of another altcoin which was created to imitate bitcoin and worst of all on top of that it is being controlled by a "Bank".

your topic is so ridiculous , how can such a thing even come close to bitcoin. it is centralized for gods sake.

[Anegg]

According to this vid https://www.youtube.com/watch?v=KdIOrMYWBIY the citigroup is developing it's own coin

an altcoin that is a copy of another altcoin which was created to imitate bitcoin and worst of all on top of that it is being controlled by a "Bank".

your topic is so ridiculous , how can such a thing even come close to bitcoin. it is centralized for gods sake.

Their coins is backed by the City Group, it is based on their costomers base. Probably it will attract the fiat money fanciers!

[choochimil]

I'm not too worried. People who genuinely want digital currencies as an alternative to fiat are those that don't want the banks and governments controlling anymore.

[unusualfacts30]

can't happen..won't happen.

bitcoin is bigger than citibank

[Searing]

can't happen..won't happen.

bitcoin is bigger than citibank

the FUD will be epic..if this were to happen.......a blanket of slander/misrepresentation/etc on Bitcoin and its past etc etc
and much on trust us ...we're bankers lol  use citicoin we can 'manage' crypto for you

This whole thing reminds me of AOL back in the early days of the Internet..is virtual currency gonna be 'managed' like AOL
wanted (metered by your use) or open INTERNET as it is now kinda situation

so will crypto be closed and run by the previous banks/gov't's/elite? or will crypto be open source and 'unmanageable"?

imho it will be open and unmanageable but there will be push back by the powers that be imho sometime here in the next couple years

[monsterer]

This is only for the use of the banks on their internal networks, not for general consumption

[solid12345]

This is only for the use of the banks on their internal networks, not for general consumption

+1 if people think Citibank is going to throw an ANN up here on btctalk and ask the community to mine it I got a bridge to sell you.

[K210]

Banks can try to build as many centrailised shitcoins as they want but BTC already has a huge lead. I persoanlly will be staying away from this citicoin as coins owned by large corporations have historically failed, just look at what happened to paycoin.

[K210]

This is only for the use of the banks on their internal networks, not for general consumption

+1 if people think Citibank is going to throw an ANN up here on btctalk and ask the community to mine it I got a bridge to sell you.

I kind of wish they would, it would be fun trying a 51% attack to see just how secure their blockchain is

[unusualfacts30]

can't happen..won't happen.

bitcoin is bigger than citibank

the FUD will be epic..if this were to happen.......a blanket of slander/misrepresentation/etc on Bitcoin and its past etc etc
and much on trust us ...we're bankers lol  use citicoin we can 'manage' crypto for you

This whole thing reminds me of AOL back in the early days of the Internet..is virtual currency gonna be 'managed' like AOL
wanted (metered by your use) or open INTERNET as it is now kinda situation

so will crypto be closed and run by the previous banks/gov't's/elite? or will crypto be open source and 'unmanageable"?

imho it will be open and unmanageable but there will be push back by the powers that be imho sometime here in the next couple years

i'm quite sure it would turn into 1000 pages of fud the day it's created on btctalk lol..could be good entertainment.

[Nxtblg]

"Citibank set to destroy Bitcoin with Citicoin"

And royally tick off more than a few Silicon Valley venture capitalists? If you were a senior executive for Citicorp, would you authorize a a mission that - if successful - would permanently alienate Marc Andreessen and his many friends? Especially when they've already pegged "Citicoin" as a Bitcoin-friendly sign of blockchain tech hitting the mainstream?

I'm no fan of Citigroup, but their worst sins are sins of venality. They don't go much for deliberate destructiveness, especially when said destructiveness hurts their own interests. The first rule of marketing in general is, "don't piss off the customer base."

[talkbitcoin]

it looks like everybody wants a part of altcoin market by creating their own coin to pump and dump and make some money!

[Epileptic_Neurosurgeon]

I doubt there's any need to jump to the life boats anytime soon