Bitcoins and Bankers

[Lieldoryn]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

[1714657483]

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[fireball4]

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?

Well I used to think that there might be an involvement of banks in bitcoins in order to make it go down. As you said the fed can print as much money as they want thus increasing the us debt (which they don't care about at all) and buy bitcoins endlessly. What they could do after a major increase like we see now is just dump all those bitcoins in order to make people scared of losing money. And that is what is happening at the moment. I wouldn't be surprised if there was an involvement of fed in it.

Ouch. That's complicated. First they can never print paper money (fiat) to grab some bitcoin from the market. If they do this, the fiat money gets worthless.

Well duh, that is what's happening for years already. Haven't you ever heard about the inflation of usd? Basically why they're printing money is to bail out the banks and pay the debts that they already have. BUT what's happening is that they go into even deeper debt then and inflate their own currency. It's just fucking ridiculous this whole system is gonna fall apart in a few years, you'll see.

What I find interesting though is that ethereum is having a huge pump at the moment. It is most probably going to surpass bitcoin in the upcoming few days and it can be regulated way easier. Could that be the actual plan of the governments and banks? To eliminate the main opposition of bitcoin and then bring up the ethereum? Because I mean it's kinda clear that after eth passes bitcoin in market cap btc will have a huge dump

[btccashacc]

"Thay are printing fiats to buy bitcoin"?, that is ridiculous. So you are saying they can just print money whenever they want? Do you know that the government pays for the money they are printing? And if they print more money, then the value of they're currency will go down, and they won't like that. And they can't control bitcoin, no one does.

Yup printing more money causes inflation, i just don't get it why they should print more money to buy bitcoin while printing more money leads to inflation as we can see it's hard for them to controll the inflation and it's kind of like making bitcoin price sky rocket and making their official currency go down. Well they can't controll bitcoin, no one can controll it, instead of controlling bitcoin i think they will banned bitcoin that's the simplest act that they can do.

[megynacuna]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

Currently I doubt if anyone will borrow in bitcoins because if the upward trend but the opposite holds true too, you can also borrow and pay less if Bitcoin prices goes down.

[andrei56]

They can print fiat to buy Bitcoins, but it would be the ruin of the country's economy... I think no one government will try to do it. I think they will go for another way, by trying to regulate Bitcoin, taking fees over transactions and lowering our individual profit.

If they can take an interesting amount of BTCs over our transactions and ending the pseudo anonymously of Bitcoin will be enough for them. They just want to have control over us, our actions and our money. We need to avoid it.

But even if they did that, and got control of all the coins then by definition now those coins will be worthless since no one will be using them to do anything with them and have you seen the amount of altcoins at this moment, if bitcoin disappeared then another coin will take its place in a heartbeat.

[AjithBtc]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

Currently I doubt if anyone will borrow in bitcoins because if the upward trend but the opposite holds true too, you can also borrow and pay less if Bitcoin prices goes down.

Agreed, but both increase and decrease is not that assured to take place at certain time gap. It all happens​in a gradual manner based on the incoming user base and the inflow of investment into it. So bankers doesn't have any role in it to play.

[Md Saad]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

this is really complicated to differentiate between bitcoin and bankers. I think both have a different aspect, bankers are basically involved in the traditional banking and bitcoin is involved with the virtual area, but in the future, bankers also will deal with bitcoin.

[Hydrogen]

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?  

Bankers and governments are anti competition.

They would never introduce new ideas, concepts or paradigms in politics, finance or economics.

US bankers and politicians would ban individual US states from passing gay marriage or legalizing marijuana if they could. Their role is preventing innovation and industry advancement in fields ranging from energy to healthcare.

Centralized bankers and politicians are anti-progress. They would never approve a bitcoin ETF or anything that represents innovation or progress in finance which benefits the average person, much less support bitcoin or crypto which they will never approve unless they have control over it in a centralized format.

[HabBear]

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? 

I think this could be a perfect place for the government and bankers and bitcoin to meet. If those in power don't deny bitcoin, but embrace it (even privately) we all stand a chance of seeing this the project continue to succeed.

The biggest threat that exists to bitcoin is from Government and those outside of government but with great power seeing bitcoin as a threat to their power and money and system. If that happens, they'll start fighting bitcoin. And since they have power and/or control the legislation they can put up a pretty damn good fight.

The reality, for better or worse, is that bankers aren't engaging in bitcoin and the blockchain in the shadows, they're doing so in broad fucking daylight! They're embracing bitcoin as a new asset class and they're embracing blockchain technology as the powerful business efficiency tool it can be!

See this >> http://business.nasdaq.com/marketinsite/2016/Building-on-the-Blockchain.html

And this >> http://www.reuters.com/article/us-fidelity-bitcoin-idUSKBN18J20P

And this >> https://www.bostonglobe.com/business/2017/05/23/johnson-talks-bitcoin-her-first-major-speech-fidelity-chairman/HYE8mo5Q5hABggIuD2y5kJ/story.html

Individual bankers may not brag about their bitcoin balance, but neither does anyone on this forum. Obviously the banks are all offer this thing.

[ladydark]

Bankers have already tried a lot to destroy bitcoin,but they failed in all of their attempts since bitcoin works on a secured block chain system.Finally,they came forward to adopt block chain system and not bitcoin.They feared that they would loose their revenue from transactions and it has come true now.They would not try to print more currencies and buy bitcoins as it would increase bitcoin price more and it would devalue their currency's value.Bankers would loose their dominance in the market more in future.

[Amph]

Exactly mate they are buying off all the Bitcoins by accumulating slowly but price already increasing because of some smart investors and some

Early adopters refuse to sell them cheap, anyone holding the majority of Bitcoins will simply be the one dictating the markets in the future.

In my believe we shouldn't even sell 1 coin what so ever, we shouldn't even trade it like buying items and goods that has to be done via altcoins.

We should use Bitcoin as an investment network transferring only millions not few bucks now that the code is solid and manipulation is hard.

I just realized how important Bitcoin really is and how could governments take the control? by accumulating the supply.

i don't think the government is involved in this pump at all, if the government were to actually try to buy, thevalue would be on 100k range already

also what would be the benefit for this? making all other people in the world rich? stupid...

the only think that make sense for any government is regulating bitcoin and makign it a currency like the local fiat, thus they can have more income in taxes

[shintosai]

Bankers have already tried a lot to destroy bitcoin,but they failed in all of their attempts since bitcoin works on a secured block chain system.Finally,they came forward to adopt block chain system and not bitcoin.They feared that they would loose their revenue from transactions and it has come true now.They would not try to print more currencies and buy bitcoins as it would increase bitcoin price more and it would devalue their currency's value.Bankers would loose their dominance in the market more in future.

if things will happen it should be for the benefits of many not just by the whales and miners who's controlling the system, lets face it bankers will avoid bitcoin to eat their business alive so instead of destroying they will try competing with btc in the manner that will favor them.

[andrei56]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

Currently I doubt if anyone will borrow in bitcoins because if the upward trend but the opposite holds true too, you can also borrow and pay less if Bitcoin prices goes down.

Yeah the risk is simply too high, if bankers borrowed in bitcoin they will be probably forced to charge interest rates which will be very high for the average person in order to try to cover for possible losses due to the changing nature of the price of bitcoin.

[Avametra]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

Currently I doubt if anyone will borrow in bitcoins because if the upward trend but the opposite holds true too, you can also borrow and pay less if Bitcoin prices goes down.

Yeah the risk is simply too high, if bankers borrowed in bitcoin they will be probably forced to charge interest rates which will be very high for the average person in order to try to cover for possible losses due to the changing nature of the price of bitcoin.

Bankers will never work with Bitcoin. After all, banks do not work for the sake of the commission and the difference in rates between the deposit and the loan. They simply issue loans for unsecured obligations. This is a simple financial pyramid

[deisik]

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? 

Bankers and governments are anti competition.

They would never introduce new ideas, concepts or paradigms in politics, finance or economics.

US bankers and politicians would ban individual US states from passing gay marriage or legalizing marijuana if they could. Their role is preventing innovation and industry advancement in fields ranging from energy to healthcare.

Centralized bankers and politicians are anti-progress. They would never approve a bitcoin ETF or anything that represents innovation or progress in finance which benefits the average person, much less support bitcoin or crypto which they will never approve unless they have control over it in a centralized format

Your post is full of misconceptions, deliberate juggling and outright garbage

Bankers as well as politicians (i.e. governments) are not against progress by any means. They are against losing profits (in case of bankers) and against losing control (in case of governments). If they really were against progress, we would never see payment cards, online transactions, Internet shopping, and whatnot. As an aside, I would in no case equal banning gay marriages and prohibiting marijuana to preventing innovation and hindering industry progress

[Sled]

Bitcoin and bankers are not connected to others and i think that bankers are surely against in bitcoin unless they can control it like the cryptocurrency of Ripple and after that they are all against of decentralization because it means that they have less power or worst they don't have power if there is decentralization so some of the countries, governments, bankers are against in bitcoin that is resulting for bitcoin to get banned.

[hatshepsut93]

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.

It's not realistic that someone even considers buying out Bitcoin. It's a common misonception that there's only 21 million Bitcoins, but each Bitcoin can be split into 100 000 000 satoshi, and as someone tries to buy all Bitcoins, the price will go higher and higher, while the mass of available coins will still be staying big enough to ensure that it can be used as a currency. And it won't be hard to change the protocol to allow even more fractions if needed. It's impossible to take over Bitcoin, governments and banks would be just outlawing it if they will decide to fight.

[ladydark]

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?

"Thay are printing fiats to buy bitcoin"?, that is ridiculous. So you are saying they can just print money whenever they want? Do you know that the government pays for the money they are printing? And if they print more money, then the value of they're currency will go down, and they won't like that. And they can't control bitcoin, no one does.

They will never do such a foolish act.If they do so,their currency would suffer from inflation since the value of their currencies would get reduced.Bankers treat bitcoin as their main rival.They have tried their best to destroy bitcoins.But they have failed in all of their attempts.

[begau]

Bitcoin and bankers are not connected to others and i think that bankers are surely against in bitcoin unless they can control it like the cryptocurrency of Ripple and after that they are all against of decentralization because it means that they have less power or worst they don't have power if there is decentralization so some of the countries, governments, bankers are against in bitcoin that is resulting for bitcoin to get banned.

Bitcoin and banks serve entriely different functions and ideally can benefit from each others continued existence.

[Oceat]

Bankers can not influence the situation with bitcoin. Bankers can take an unlimited amount of Fiat money, but to have access to bitcoin they can't. Besides who wants to borrow in bitcoins if the price can rise to it. Such a loan can result in bankruptcy.

this is really complicated to differentiate between bitcoin and bankers. I think both have a different aspect, bankers are basically involved in the traditional banking and bitcoin is involved with the virtual area, but in the future, bankers also will deal with bitcoin.

Yea, bankers will have to deal with bitcoin in the future but bankers can not change the situation in bitcoins. Bitcoin is anonymous while banks is not, both of them has a different aspect concerning about the volatility in both areas.