What It Means For Banks When Bitcoin Is Worth More Than Gold?

[Memento]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

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[Meuh6879]

the answer is simple : ETF of GOLD will be in shit mode.



and bitcoin value will be skyrocketed to 3500 USD.





https://ybitcoin.com/articles/bitcoin-as-an-investment/

[Memento]

the answer is simple : ETF of GOLD will be in shit mode.
http://imagize[Suspicious link removed]ageshack.us/a/img922/6974/uc1lFW.gif



http://imagize[Suspicious link removed]ageshack.us/a/img907/7189/rM2FEo.png

https://ybitcoin.com/articles/bitcoin-as-an-investment/

I think we need wolfs to fight against wolfs if this is an attack from bankers...
This is a war and when Bitcoin millionaires collaborate together to keep Bitcoin price for more than a Gold we will show for the all world that the Bitcoin is better than their system of scams and this will be the second biggest period of Bitcoin.

[Vito Corleone]

The simple explanation is that no matter in what country you live our system is like an Hitler, they want us to believe in value they can control, gold and any other currency and if they lose control they will try to put a star of david on you.

And as you said, sheeps will run from Bitcoin wolfs will stay, we know that Bitcoin is not and ideal and we need to work to make it more adoptable.
Only with our work Bitcoin will become best asset and we as early adopters know it. No matter who is attacking Bitcoin we will stay and improve it to make it best asset.

[RoommateAgreement]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

this is nothing new and that is not "someone".
every time price goes up, people who have invested in short term cash out to make profit, then some times there are even manipulations that cause panic sells too and price goes down. it is all done in all the other markets too but in smaller scale, people sell for profit : normal.

and don't worry too much. price is going to be higher very soon.

and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry.

[OROBTC]

...

Roommate Agreement wrote:

"and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry."


That would be my take as well.  The banks will not likely worry about BTC until if/when it becomes a popular (for the masses) payment system.

I don't think that gold will be much influenced should Bitcoin price go higher than Au (I would guess that BTC will be higher before, but that's a guess).

[vnvizow]

the answer is simple : ETF of GOLD will be in shit mode.



and bitcoin value will be skyrocketed to 3500 USD.





https://ybitcoin.com/articles/bitcoin-as-an-investment/

Wait, isn't >50% of black market transactions in btc already? We need to pump those $44,000 numbers up, those are rookie numbers

[pooya87]

banks are happy when bitcoin price goes up, because it means by the time bitcoin is rising there are a lot of translations going through their service which will give them lots more fees to process all these transactions. once when people deposit money on exchanges to buy bitcoin and once when they sold and cash out to banks.
an by the time prices are rising like this, people do this more.

[doomistake]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

this is nothing new and that is not "someone".
every time price goes up, people who have invested in short term cash out to make profit, then some times there are even manipulations that cause panic sells too and price goes down. it is all done in all the other markets too but in smaller scale, people sell for profit : normal.

and don't worry too much. price is going to be higher very soon.

and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry.

I don't know why these people are still using bitcoin, they want bitcoins price to be low, and it doesn't make any sense at all, because most of the bitcoin users are wishing that bitcoins price is always fluctuating on a higher one so that they could a lot of profits from it, but some of them do not want to, then I guess this guys should stop using bitcoin right away and use gold instead.

Because they are not getting any benefits at all if they are selling their bitcoins in a low price if its price got higher, this is insane, because no one would ever do that.

And banks don't care about bitcoin, because they know that they can't touch it, because it is decentralized, even bitcoins price gets high all the time, the banks can do all the time is to watch bitcoin to its way to success.

[Windpower]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

That it is true. A lot of people don't want to see Bitcoin costing more than gold, but it isn't up to ordinary people, it is mostly up to people who own extremely large amounts of Bitcoin or exchanges that have a lot of Bitcoin. They the ones with the real power. They choose when they want to pump and dump and that is what actually controls the price. But the second part of your post is not correct, a lot of people sell Bitcoin in a panic when the price goes up because they have made profit, they don't do it so that they can keep the price of Bitcoin low.

[danherbias07]

Scary little bitcoin. 
Is there a panic now with other commodity investors and those who put their money to other currency thinking they have much movement than bitcoin?
Sure do. A little more and it might come to many news channel. It will be hard for some people to swallow this truth.
Something that died went back to life. herherher 

[Amph]

banks are happy when bitcoin price goes up, because it means by the time bitcoin is rising there are a lot of translations going through their service which will give them lots more fees to process all these transactions. once when people deposit money on exchanges to buy bitcoin and once when they sold and cash out to banks.
an by the time prices are rising like this, people do this more.

transaction don't go through banks service, from where this come? you made it up, transaction are routed by miners not banks, bitcoin is decentralized for a reason

if you mean bank exchange like xapo coinbase etc..., those only get the fee from trading and not for deposit

[szpalata]

I believe the banks will swallow a humble pie and accept Bitcoin as it is if it manages to go pass gold in terms of prices, because they've refused to give it the necessary recognition it deserves and have tried limiting its usage due to unhealthy competition.

[X-ray]

It would not mean anything. Just a mad person to sell his bitcoin for the lower price. but actually, $1200 is ATH of bitcoin. So for those people have already sold their bitcoin at that price and they're so lucky person.

[RhodaGila]

Very clear their concern over the possible existence of Bitcoin markets which continue to threaten the world economy through banks that are economically financial markets held by them.
No one will ever be able to stop the rate of Bitcoin, will further increase and continue to rise

[Qartersa]

When the prices do go over the prices of gold, then that would really spark a movement that would cause the gold horders/holders to drop their gold and buy bitcoins. That would also mean that banks will lose money over this as most banks would be holding money and if bitcoins prospers, there would lesser people wanting fiat.

[mobnepal]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.

Actually there is big resistance on $1200 so some correction before crossing that price range is normal. After few correction it is quite sure that price will pump hard again.

What it would mean for Banks when Bitcoin will cost more than a gold?

They are not interested in bitcoin and what they cares is just a physical gold which they can touch.
They may be buying bitcoin silently  

[Yakamoto]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

I'd be hesitant to say anything right now, since it is entirely possible they can just ignore it.

It's not like the value of something is the end all be all for investors, a lot of them do have to keep in mind that volatility is a factor, and over the past day we've seen a $80 change in the value, trending downwards. It's not like they think everything is hunky-dory.

[bncbnc]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

I'd be hesitant to say anything right now, since it is entirely possible they can just ignore it.

It's not like the value of something is the end all be all for investors, a lot of them do have to keep in mind that volatility is a factor, and over the past day we've seen a $80 change in the value, trending downwards. It's not like they think everything is hunky-dory.

i think still there is nothing wrong to bank, because bitcoin is still not as such popular that can effect the position of banks at least in near future it is not going to happen, but still the possibilities to effect the bank by the bitcoin are very little.

[calkob]

We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

To be honest i dont know, but Ben burnake said that gold isnt money which pretty much sounded like "i dont care" to me.  If bitcoin takes over then we win so i doubt they will like it and will prob do everything to oppose it.