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YellowRiver
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October 10, 2017, 11:51:11 PM
Last edit: October 12, 2017, 07:26:13 AM by YellowRiver
 #121

Bitcoins and bankers are against each other because both is a threat to each of those two, but i think nothing will be abolished.

Sure! Bitcoin is a threat to the bank but I do not see banks being a threat to bitcoin. Eventually bank operations will dwindle and most of the staff will start loosing their jobs anyway as no one will bother much about them. However, there is nothing they can do to ever halt the growth of bitcoin and it is obvious that even a powerful country like china could not.
Banks are threat to bitcoin also, if the banks will realize that they are getting some decrease on the amount of user on their banks then  they will tell it to the government for sure and the government will study it and if they found out that the banks are getting in danger then they will make a move to regulate the bitcoin by launching a law.
the bankers will get loss only if they will be against bitcoin and will not accept bitcoin while in the case if they will accept bitcoin and will start their regulations for the sake of bitcoin and will issue their own wallets then it will be very beneficial for all of the banks and they will be then able to earn a very high amount of income from their services for bitcoin
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October 11, 2017, 03:20:44 AM
 #122

Recently, the banking system works very well with the crypto currency. I have already convinced my country that crypto-currencies will soon be implemented at the state level and the user will not worry about the legal aspects of this issue.
Well, in my country everyday have news talking about cryptocurrency and in next time, the national bank can use crypto as a digital cash for pay wage and saving in Bank. I hope a day I can use Bitcoin buy any things and not need use Visa or real money Grin
You All Speak Correctly And even plan to use only digital currency, so really the prospects are very huge. But only you do not take into account the moment that after legalization of the crypto currency, all users will have to pay taxes. And this seems to me the very first problem.

That sounds amazing. In my country, our banking system has not integrated cryptocurrency and blockchain technology yet. There is legal recognition for bitcoin however it is not yet adopted in my country's financial system. I think that we are far from adopting bitcoin as a digital system. It would still be problematic to use bitcoin as a pay for wages or have it saved in the bank. However, bitcoin's popularity among the banks have been growing - as of now I can cash out my bitcoins through some banks.

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October 11, 2017, 10:10:37 AM
 #123

Bitcoins and bankers are against each other because both is a threat to each of those two, but i think nothing will be abolished.

Sure! Bitcoin is a threat to the bank but I do not see banks being a threat to bitcoin. Eventually bank operations will dwindle and most of the staff will start loosing their jobs anyway as no one will bother much about them. However, there is nothing they can do to ever halt the growth of bitcoin and it is obvious that even a powerful country like china could not.
Banks are threat to bitcoin also, if the banks will realize that they are getting some decrease on the amount of user on their banks then  they will tell it to the government for sure and the government will study it and if they found out that the banks are getting in danger then they will make a move to regulate the bitcoin by launching a law.
Bankers are really threatened from the popularity of bitcoin and the way bitcoin is giving profit to the people the banks will be empty soon and think banks should start accepting bitcoins so that they can continue to the future otherwise use of bank is now at end as more people will know about it they will flop the banking system and will switch to bitcoin.
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October 11, 2017, 01:32:38 PM
 #124

Bitcoin and bankers do not go together that is for certain. Bankers are the reason Bitcoin came out. Quantitative easing just won't cut it anymore and it was never a good solution to begin with in the first place.
So true! Bankers are the reason behind the satoshi gospel. We have been stolen from, ripped and manipulated as the banks and governments kept working together to make things just get worst for the citizens with huge inflations everywhere. This is the reason why citizens of hyper inflated countries such as venezuela, zimbabweetc are already finding peace with using bitcoin instead.


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October 11, 2017, 02:39:55 PM
 #125

Financial institutes are already working on own cryptocurrencies. They and governments will profit from bitcoin technology and replace traditional money.
If they are working on own cryptocurrencies, that will not necessarily make them to be earning anything as it still balls down on the citizens accepting it. India as I heard is already trying this out and will most definitely not stop Indians from sticking with bitcoins.

However, anything that comes from government will most definitely be centralized and that does not change going back to using fiats except for the cost of printing money by the government. Fiat cannot even be replaced for now, and anything else from the government will be as good as dead.

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October 11, 2017, 02:58:43 PM
 #126

Hello All,

I'm new to crypto but not new to the banking/gov game.

What are you thoughts on the bankers/gov potentially controlling Bitcoin behind the scenes putting on a show oh how they are concerned about it? 

They can print the fiat to buy bitcoins.
Its the electronic money/world currency they are so thirsty for.
The NSA has supposedly a back door to all our devices.

I think if bitcoin is the new banker currency it will explode higher as 7.5 billion people vs 21 million bitcoins means $$$$ to the early holders.
If Bitcoin is the alternative to the bankers/gov then it will explode higher as well due to the high percentage of people who want to be free from them.

Anyone who has attempted to not use the dollar Ghadaffi (gold Dinar) - Saddam (oil for Euros)  have met a swift end. 

Why are they not stopping (possible jail threats) it when they have shown they will go to extreme measures to stop competition.

Either way I see it going higher i'm just trying to get my head around why it has not been stopped. 

Thoughts?

Both would benefit. Banking will still be the medium of exchanging bitcoins. People will still save there money in the bank but as to investments, people may choose bitcoin. It will always be safe in the bank as it has insurance to your money. Bitcoin may somehow affect the banking industry but I guess each of them has its own role. The bank can grow there money through bitcoin. On the other hand, bitcoin maybe more reliable through the banks.

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October 11, 2017, 06:29:32 PM
 #127

i think one day bitcoin get under government control as well banks
If you have read a bit about bitcoin, you will know that bitcoin is a decentralized currency and that means it cannot be controlled by anyone, including the government. It doesn’t mean they cannot find a way to benefit from it via tax, or probably controlling the exchanges which still balls done to the taxes anyway, but that is all it is. No one can control it.

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October 11, 2017, 06:35:30 PM
 #128

For bankers, the main margin is with the transaction, and for the state control over the issue of money. Therefore, these institutions will make every effort to discretize the blokchain and crypto-currency or try to re-capitalize it under phiatic funds in every possible way. This is a fight for survival.


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October 11, 2017, 06:38:08 PM
 #129

In my opinion, bitcoins and banks will coexist.

The popular belief that bitcoin will make banks go away, is flawed. Because if you see, bitcoin is only a currency just like dollars or yen.

Banks use currency to take deposits and lend to other people. Makinng a profit in the provess.

So once bitcoin is legalised in a country, it will be treated as a currency and banks can offer bitcoin accounts where poeple can save and spend their btc using the bank accounts.
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October 11, 2017, 09:20:42 PM
 #130

In my opinion, bitcoins and banks will coexist.

The popular belief that bitcoin will make banks go away, is flawed. Because if you see, bitcoin is only a currency just like dollars or yen.

Banks use currency to take deposits and lend to other people. Makinng a profit in the provess.

So once bitcoin is legalised in a country, it will be treated as a currency and banks can offer bitcoin accounts where poeple can save and spend their btc using the bank accounts.
You mean that banks will offer people bitcoin accounts, they (banks) will handle the private keys and people will be happy to use those accounts to manage bitcoin transactions? Why would they do this, if thy can do it now on their mobile app? Maybe, to store a large amount of bitcoin they will use banks, but only if bitcoin will be fully legalized in the country. Banks will change but not because of bitcoin, but because of digitalization.

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October 11, 2017, 09:24:35 PM
 #131

In my opinion, bitcoins and banks will coexist.

The popular belief that bitcoin will make banks go away, is flawed. Because if you see, bitcoin is only a currency just like dollars or yen.

Banks use currency to take deposits and lend to other people. Makinng a profit in the provess.

So once bitcoin is legalised in a country, it will be treated as a currency and banks can offer bitcoin accounts where poeple can save and spend their btc using the bank accounts.
You mean that banks will offer people bitcoin accounts, they (banks) will handle the private keys and people will be happy to use those accounts to manage bitcoin transactions? Why would they do this, if thy can do it now on their mobile app? Maybe, to store a large amount of bitcoin they will use banks, but only if bitcoin will be fully legalized in the country. Banks will change but not because of bitcoin, but because of digitalization.
I don't think that there would be much point in banks handling bitcoin accounts but perhaps it'd be interesting to see banks offering a service similar to the one Uphold offers. Uphold kind of feels like a bank. The innovative feature of the platform is that you can "freeze" the value of a cryptocurrency in FIAT (or vice versa) at a certain point in time and still get to cash out in crypto or FIAT either way. They exchange rates and commission aren't the best but a real bank could do better and it'd be interesting to see.



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October 11, 2017, 09:45:20 PM
 #132

I think you are going a bit far in conspiracy theories here. I don't think banks are printing money to buy bitcoins. They already have their scheme, and bitcoin is actually a threat to them. Even if they bought tons of bitcoins, they would of course be rich, but their control and power would end. They are already rich, what they want to perpetuate is their power, not money.
Right now the world is watching bitcoins, and seeing how they work. China tried a ban, but they just sent bitcoin underground, and that will be worst for them. Japan is doing a much better job, trying to keep some control with regulation. I think this is the right way to go, and if countries succeed at this, bitcoin and fiat will exist in parallel.

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October 12, 2017, 12:30:24 PM
 #133

Bitcoin and bankers do not go together that is for certain. Bankers are the reason Bitcoin came out. Quantitative easing just won't cut it anymore and it was never a good solution to begin with in the first place.
So true! Bankers are the reason behind the satoshi gospel. We have been stolen from, ripped and manipulated as the banks and governments kept working together to make things just get worst for the citizens with huge inflations everywhere. This is the reason why citizens of hyper inflated countries such as venezuela, zimbabweetc are already finding peace with using bitcoin instead.
The recent dump was occurred just because of the rumors that were being spread by the bankers who are jealous from the popularity of bitcoin and bitcoin is real threat to the business of banks and bankers are worried what they will do if world will switch to the bitcoin so suggestion to them is accept the reality and upgrade their system to accept bitcoin as well.

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October 12, 2017, 04:07:43 PM
 #134

Bitcoin and bankers do not go together that is for certain. Bankers are the reason Bitcoin came out. Quantitative easing just won't cut it anymore and it was never a good solution to begin with in the first place.
Exactly, most of the time people think of bitcoin as a currency, but this is a mistake, this is why one of the most famous saying about bitcoin is that allows you to be your own bank, and that is accurate, with bitcoin we do not need banks anymore, that does not mean they are going to disappear completely but to many people those institutions are going to become obsolete.
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