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Author Topic: Big Banks / Wallstreet basically proclaiming War Against Bitcoin  (Read 1504 times)
gentlemand
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August 29, 2015, 07:29:46 PM
 #21

Can anyone point to one single instance of a bank creating or talking about creating an actual cryptocurrency?

And I don't mean tokenising USD or using a blockchain in whatever form to make payments and settlements smoother. Those are all payment layers built to move fiat, not standalone currencies.
According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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keepdoing (OP)
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August 29, 2015, 10:52:56 PM
 #22

Can anyone point to one single instance of a bank creating or talking about creating an actual cryptocurrency?

And I don't mean tokenising USD or using a blockchain in whatever form to make payments and settlements smoother. Those are all payment layers built to move fiat, not standalone currencies.

Citibank; Sberbank - although both are laughable as ever being able to achieve global status.
JP Morgan - never to be trusted or counted out.  They obviously have the most skin in the game, and a huge footprint, and a disgusting amount of insider support from the USA.  Only a fool bushes them off lightly.  But I don't really see it.

Bank of England and some of the European Banks seem to be the main pitchmen for the concept of a Fed Coin.  Most likely scenario is something pegged to the IMF XDR.  And from an acceptance standpoint that wouldn't be as difficult as you may think. 

And the comment "creating an actual cryptocurrency" tends to focus people on the wrong thing.  Actually creating the Coin from a technology standpoint would be nothing.  Its the acceptance / social angle that is at the heart of it.  The IMF-XDR route would be easily accepted by the global governments as they already use it.  This would just be layering a Cryptocurrency on top of the existing system.

But the game is still Bitcoins to lose.  Danged if "you" aren't trying hard to shoot yourselves in the foot though.
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November 13, 2015, 07:42:53 AM
 #23

Bitcoin is becoming more and more popular and more people have invested their money in bitcoins and have left the big banks. I dont know about you, but if I were the big banks, i would be concerned about how this is going to affect my business
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November 13, 2015, 07:50:36 AM
 #24

If I were the big banks, I would be scared to go to war with Bitcoin. I doubt that this will ever happen though. I doubt that the big banks are willing to go to war as they would have a lot of hate on their shoulders. Bitcoin is not at its lowest by the way, I think that it is at it's medium range at the moment. The peak was when it was $1000 and it was at its lowest when it was a couple of cents.
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November 13, 2015, 01:12:33 PM
 #25

They just feel threatened by us.

I'm no longer offended. I just take it as a compliment.
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