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Author Topic: Have Banks conspired to Kill Bitcoin Startups?  (Read 2550 times)
countryfree
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February 26, 2017, 11:48:15 PM
 #41

You forgot one important detail.

Not all banks are against BTC, only british ones. We use to think of the UK as a BTC-friendly country, compared to Russia or China which aren't, but it's the opposite which may prove true. I've had no problem dealing BTC in Switzerland, Germany, France or Italy.

The brits have always hated things they couldn't control, and BTC is one of them. They will soon (I hope) leave the European Union, and they should leave BTC as well. The crypto world would be better without them.
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February 27, 2017, 12:21:35 AM
 #42

That's typically going to happen in such a large and new market. I'm personally surprised there haven't been more closing. Just my two cents though. I've been wrong before.

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February 27, 2017, 04:47:23 AM
 #43

Banks won't initiate regulatory acts to kill bitcoin start-ups. Recently largest private bank of Indonesia invested into fintech start-ups for a better supporting of digital move. As a part the startups support in the technology development for the bank and makes it reach all category of people and the banks takes care of the financial services.

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asuryan180
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February 27, 2017, 05:04:37 AM
 #44

I don't think there is a conspiration theory,sometimes we tend to think that that person or instituion have a plan against BTC but often that's not the case,there are banks which fully support these startups and offer nice loans and provide funding so it all comes down to every single bank,not the system as a whole,yeah there are banks which won't fund the startups but fortunately they are the smaller percentage of all of them

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February 27, 2017, 05:12:30 AM
 #45

This article claims that over 36 bitcoin exchanges have closed shop around the world, since October 2015, due to discontinuation of banking services to them.

Is it that commercial banks have conspired to make it difficult for bitcoin startups or they are just trying to abide by the present laws and regulations?

http://www.forbes.com/sites/rogeraitken/2017/02/12/bitcoin-or-bust-taking-british-banking-out-of-exchanges/#1e942876588e
Banks love money more than anything but you still need to follow some rules, but the rules don't come from the banks but from the governments, governments own the fiat and if you are going to do deals in fiat then you need to follow their rules is that simple.

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February 27, 2017, 10:06:25 AM
 #46

This article claims that over 36 bitcoin exchanges have closed shop around the world, since October 2015, due to discontinuation of banking services to them.

Is it that commercial banks have conspired to make it difficult for bitcoin startups or they are just trying to abide by the present laws and regulations?

http://www.forbes.com/sites/rogeraitken/2017/02/12/bitcoin-or-bust-taking-british-banking-out-of-exchanges/#1e942876588e
Banks love money more than anything but you still need to follow some rules, but the rules don't come from the banks but from the governments, governments own the fiat and if you are going to do deals in fiat then you need to follow their rules is that simple.

The opposite I could say. That is, banks literally put the rules and of course banks have the money. Governments all over the world are groups of people with very good salaries and their main goals are to follow and implement faithfully what the bankers have already decide. On the other side banks always want to fund companies that in the future will succeed and they will have certain profit and possibly as someone above has post they can control through its loans.
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February 27, 2017, 02:32:18 PM
 #47

I don't think there is a conspiration theory,sometimes we tend to think that that person or instituion have a plan against BTC but often that's not the case,there are banks which fully support these startups and offer nice loans and provide funding so it all comes down to every single bank,not the system as a whole,yeah there are banks which won't fund the startups but fortunately they are the smaller percentage of all of them
yes agree, I think still do not feel any need for that. because still bitcoin has no relation with banks and secondly the users of bitcoin are still very low therefore it is not needed. But I think in future when the users of bitcoin will increase then they can think about that.

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February 27, 2017, 03:39:23 PM
 #48

Banks cannot kill what they can't control. Also, they are too busy with making more money for themselves and I don't think bitcoin is getting in the way of what they are trying to accomplish. If there's anybody who's at fault for the closure of some exchanges, banks are definitely not the ones to blame.


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February 28, 2017, 02:47:33 AM
 #49

Banks cannot kill what they can't control. Also, they are too busy with making more money for themselves and I don't think bitcoin is getting in the way of what they are trying to accomplish. If there's anybody who's at fault for the closure of some exchanges, banks are definitely not the ones to blame.
Personally I think the biggest reason exchanges fail are the exchanges themselves, someone with money to spare decides they want to make an exchange without taking into consideration the enormous task it is, then they get hacked or don’t have enough volume and eventually those exchanges disappear.

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