Citibank set to destroy Bitcoin with Citicoin

[ridery99]

Regular people will trust citicoin more than bitcoin because it's controlled by bank 
That is going to make btc mass adoption harder

[SecretsOfCrypto]

destroy bitcoin? best of luck with that 

[Sumo]

Are they going to post an ANN thread lol. Will it go up and down in value? Can you buy it with BTC, I think not. So meh who cares

If anything it will educate mainstream about crypto and will be good for bitcoin in the long run.

[bitcoinbelieve]

Big banks/gov't have capacity to kill bitcoin. Only reason why they left the bitcoin alone is that they want to make big profits out of cryptocurrency before they bailout.

[ridery99]

Nerds here believe that bitcoin is not replaceable like draghi thinks euro is forever 

[harrymmmm]

Nerds here believe that bitcoin is not replaceable like draghi thinks euro is forever 

I guess it depends on your definition of 'replaceable'.
Bitcoin will probably never completely disappear from the face of the earth.
At worst, it might become largely unused, 'replaced' by something completely different (something we haven't even seen yet).

[RealBitcoin]

This is really good news, Citicoin will get alot of mainstream people, investors and whales, familiarize themselves with cryptocurrencies.

And then, we will see that Bitcoin will be the winner of this competition, and Citicoin will slowly erode into obscurity.

I think with this move Citicoin will involuntarly promote Bitcoin.

[RealBitcoin]

Are they going to post an ANN thread lol. Will it go up and down in value? Can you buy it with BTC, I think not. So meh who cares

If anything it will educate mainstream about crypto and will be good for bitcoin in the long run.

Exactly what I said, and also dont forget that, alot of big people will familiarize themselves with crypto.

Now they might pull some dirty tricks on it to discredit entirely crypto currencies, but i dont think it will work in the long term

[favdesu]

I'm quite sure a centralized bank coin won't destroy anything. or did ripple kill bitcoin yet?

[pooya87]

I'm quite sure a centralized bank coin won't destroy anything. or did ripple kill bitcoin yet?

everybody pretends that the altcoin bags that they are holding is precious and going to kill bitcoin to increase the price and be able to dump their bags (things like ripple).
and citicoin is just some centralized bank hype so far and will not nothing with bitcoin

[dadon]

This thread just proves most don't understand why Satoshi built bitcoin, or don;t care and just want to make money either way very sad.

[rdnkjdi]

The only reason people give a shit about bitcoin is because they don't trust banks.  Price is mostly driven by the neckbeard libertarians and gold bugs.

Bitcoin is more inconvenient, more volatile, more likely to be stolen, slower to move and a host of other things than dirty fiat.  And yet it still attracts a lot of interest because it's global internet money.

The idea of anyone caring about a bank coin haha    All of the disadvantages - none of the advantages.   

[NorrisK]

How will citibank transfer coins/money to other banks if they dont use the same blockchain? I don't think we will see any other bank running the citicoin blockchain or we'd have the first completely centralized network around..

[RealBitcoin]

Maybe they just want to create a new derivative, not really a coin at all, but just a new speculative instrument, to play around with.

The derivative industry is a 1.6 quadrillion $ bubble, 1 more derivative in plus doesn't even count

[g3rszpi]

Maybe they just want to create a new derivative, not really a coin at all, but just a new speculative instrument, to play around with.

The derivative industry is a 1.6 quadrillion $ bubble, 1 more derivative in plus doesn't even count

as i told before i think it will be just some "play coins" which you can use to buy knifes at a discount price , like at the gas stations lol

[bit1]

Only wait and a dev with newbie account  will launch another using same name or will change it to Cytycoin.  

Edit:  Oh wait again!        https://bitcointalk.org/index.php?topic=789952.0                 I told you! 
                                           

  

[murderouskirk]

Have they actually said anything about releasing it? Or just that they made a shitty clone coin as part of their research into cryptos?

[starblocks]

Who started this discussion lmao

Banks and chains never going to happen its just media hype

Instead I'd focus on what corps will wiggle into place favourably

[Pab]

 not only Citi,also ABNAmro,IBM andsome more,thank you banks in the name of btc for free marketing
i am waiting for giveaway

[ApexEvo]

If citicoin will teach Joes how to use crypto, we can retire guys