n691309
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August 14, 2017, 07:53:22 PM |
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I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime. I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it. Do you thing it will happen and when?
War? What war are you talking about op. Banks are already using bitcoin technology called blockchain. There are some banks which are paying or accepting Bitcoins. Many are now encouraging it to. Yes there is a fear that banks may loose out business, but it's absurd nothing like this will ever happen, banks are more than happy to encourage Bitcoins as after conversion, it comes back to them. As I see it, it's nonsense to have a war between banks and bitcoin. Banks can convert bitcoins into cash that is helpful to their daily cash flow. It's also possible to convert bitcoin into other currencies; therefore, these banks have no good reason to start a war. The truth is, the bitcoin technology which is known as "blockchain" protects their transaction round the clock. But if people invest in Bitcoin they won't let their money laying at the banks, so the banks won't make profit from your money and pay pennies back to you. Banks work like the middleman between you and a good investment, with Bitcoin you skip this middleman and start investing by yourself, 100% profit for you, while investing with banks they pay you few percentes and enjoy all the rest of the money. Banks hegemony ends if Bitcoin rises and get more adoption. My point of view is when Bitcoin collapse still Banks has the real money on hold but in the other hand if Banks collapse - what would be the effect for Bitcoin? Of course you can't convert Bitcoin to any currencies and possibilities Bitcoin will have no value at all. First of all, there are no chances of bitcoin to crumple. They will survive longer and better than you think. The Central bank of Philippines has legalized bitcoins. So banks are not exactly against this crypto currency. If banks collapse then all the payments will be made in bitcoins. There will be only one currency for the whole world, bitcoins. Then it won't be converted into any other currency. |
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klarki
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Top Crypto Casino
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August 14, 2017, 08:36:12 PM |
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This is impossible, they can't start a war against a cryptocurrency.
Btc don't have only one source or only one country or ...
It is all around the world.
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bohr
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August 14, 2017, 09:52:41 PM |
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I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
The war started as soon as bitcoin was created banks make these accusations to bitcoin when it is them the banking system the reason there is money laundering in the first place, where trillions of dollars are laundered and governments do nothing to me it seems they are worried they are going to lose their biggest money maker, illicit activities. |
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SaShiRaJaVu
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August 14, 2017, 10:14:15 PM |
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This was expected with the amount of money coming in with every ICO and i just want to see how they will be handling this,some of the exchanges have already stopped accepting US citizens to deal with alt coin and majority of the ICO i saw in the past few months are not taking money from US citizens ,but i am not sure how this crackdown works |
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Bestwishes745
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August 14, 2017, 10:15:47 PM |
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bitcoin will never lose to the bank if the bank againts bitcoin. and why would bank againts bitcoin also. why dont they buy bitcoin for the asset. it grow every years. bank should buy bitcoin instead picking a fight on bitcoin. or they already did buy some bitcoin?
Why don't banks buy Bitcoin as an asset? The answer is in this fundamental disclaimer of any class of investment: "PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS." I know lots of traders working for banks. None of them will touch BTC in their trades for many reasons and none of them consider BTC anything more than a temporary speculative bubble waiting to burst. Yeah you are right it will be good for both the bitcoin and the banks if the banks will accept bitcoin but a lot of banks are not accepting bitcoin infect some banks are trying to scare people from bitcoin they are not considering bitcoin profitable for them they consider it risky and less profit able but still I don’t think banks can ever do any kind of war against the bitcoins not in the coming future the value and the importance of the bitcoin will never get vanish ever. |
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Janation
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August 14, 2017, 10:22:25 PM |
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I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
The war started as soon as bitcoin was created banks make these accusations to bitcoin when it is them the banking system the reason there is money laundering in the first place, where trillions of dollars are laundered and governments do nothing to me it seems they are worried they are going to lose their biggest money maker, illicit activities. There are some people really doing this using their ties with the bank, make it a way to launder a lot of money on the bank. I've also known a news in my country where in they made a lot of bank accounts using different people to save there laundered money, how greedy of them. I think they are not worried at all but they are thinking that if a lot of people do not use banks, the only money that will be left in the bank is their money. |
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bitcoinvestor
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August 14, 2017, 10:48:23 PM |
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I think the banks wont shutdown btc because they cannot or it would be really hard for them.
I think they would rather go with it and use btc in their transactions instead of working against it...
No benefit for banks to shutdown BTC, Banks should work together with bitcoin developers to give better service for their customers. I think there will be big jump for banks if they can make application together with Bitcoin developers. Payza isn't bank but when the dev include bitcoin in the payment wallet, payza will be accepted by bitcoin users. |
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manchester93
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August 14, 2017, 11:06:51 PM |
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This was expected with the amount of money coming in with every ICO and i just want to see how they will be handling this,some of the exchanges have already stopped accepting US citizens to deal with alt coin and majority of the ICO i saw in the past few months are not taking money from US citizens ,but i am not sure how this crackdown works Surprisingly, the SEC was very lax regarding the ICO hype. They said that ICO tokens may be securities, but they also said they weren't pursuing charges against anyone. It seems like the crackdown is less against cryptocurrencies, and more against unregulated money service businesses. |
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MyIdeas
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August 14, 2017, 11:23:16 PM |
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I think this is indeed a threat to the bank. A lot of people see bitcoin a metide save a modern and very generous money. Unlike banks .. saving money and getting tax every month bitcoin no tax every month. People assume saving in the bank will only spend money while if we save bitcoin will benefit. I'm sure more and more people are familiar with bitcoin .. maybe customers in the bank will move on to bitcoin.
They can start a war whenever they want but the truth is that they will never be able to win that war. They can never defeat man’s power. And this a fact. The users of bit coins I a lot and they are also increasing. And if they start any kind of act to damage bitcoin people will never let them do it. Because it is the source of living of many families. |
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Stardusst
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August 15, 2017, 03:57:54 AM |
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I don't think the banks are going to control it yet since not all people knows about it. They wouldn't gain a lot yet with controlling bitcoin so far so I think they would just spectate and monitor it's movement for further decisions..
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Nameless27
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August 15, 2017, 04:51:35 AM |
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In my opinion, it maybe not that visible or the media is ignoring it. The banks is starting to shift its gear to control bitcoin, slowly but surely. Why? Banks are run by the most greedy individuals next to a devil. Let's admit it, the shine of bitcoins profit and price can't be by all means ignored by banks. It starting and when the day we noticed it we are already puppets of greedy devil officials.
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nicolioz
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August 15, 2017, 05:00:03 AM |
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I think banks are actually trying to design their own cryptocurrencies, but I can see some of them adopting btc once transactions get even faster and easier.
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Mett33
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August 15, 2017, 09:20:33 AM |
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This was expected with the amount of money coming in with every ICO and i just want to see how they will be handling this,some of the exchanges have already stopped accepting US citizens to deal with alt coin and majority of the ICO i saw in the past few months are not taking money from US citizens ,but i am not sure how this crackdown works Surprisingly, the SEC was very lax regarding the ICO hype. They said that ICO tokens may be securities, but they also said they weren't pursuing charges against anyone. It seems like the crackdown is less against cryptocurrencies, and more against unregulated money service businesses. I think same, problem is that crypto are anonymous and that no government like. My opinion is that crypto which will not be connect with banks-government will disappear in the future, not because people will not like, but because government and banks will push them down. Anarchist say that bitcoin will be future currency but who will regulate it, big miners from China, are they better than our government ? The winner will be crypto which will be connect with government and banks. |
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manchester93
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August 15, 2017, 10:06:39 AM |
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This was expected with the amount of money coming in with every ICO and i just want to see how they will be handling this,some of the exchanges have already stopped accepting US citizens to deal with alt coin and majority of the ICO i saw in the past few months are not taking money from US citizens ,but i am not sure how this crackdown works Surprisingly, the SEC was very lax regarding the ICO hype. They said that ICO tokens may be securities, but they also said they weren't pursuing charges against anyone. It seems like the crackdown is less against cryptocurrencies, and more against unregulated money service businesses. I think same, problem is that crypto are anonymous and that no government like. My opinion is that crypto which will not be connect with banks-government will disappear in the future, not because people will not like, but because government and banks will push them down. Anarchist say that bitcoin will be future currency but who will regulate it, big miners from China, are they better than our government ? The winner will be crypto which will be connect with government and banks. Well, the idea of Bitcoin is not that it is "regulated" or "governed" by miners. They are incentivized to be honest by mining rewards. In this way, Bitcoin can remain decentralized. It makes no sense for a cryptocurrency to be connected with governments and banks; there are much more efficient value transfer systems available in trusted settings. But in the future, I think governments and banks will try to sell this idea of government-backed crypto to the masses, in order to compete with truly decentralized cryptocurrencies like Bitcoin. |
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Mett33
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August 15, 2017, 01:07:45 PM |
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This was expected with the amount of money coming in with every ICO and i just want to see how they will be handling this,some of the exchanges have already stopped accepting US citizens to deal with alt coin and majority of the ICO i saw in the past few months are not taking money from US citizens ,but i am not sure how this crackdown works Surprisingly, the SEC was very lax regarding the ICO hype. They said that ICO tokens may be securities, but they also said they weren't pursuing charges against anyone. It seems like the crackdown is less against cryptocurrencies, and more against unregulated money service businesses. I think same, problem is that crypto are anonymous and that no government like. My opinion is that crypto which will not be connect with banks-government will disappear in the future, not because people will not like, but because government and banks will push them down. Anarchist say that bitcoin will be future currency but who will regulate it, big miners from China, are they better than our government ? The winner will be crypto which will be connect with government and banks. Well, the idea of Bitcoin is not that it is "regulated" or "governed" by miners. They are incentivized to be honest by mining rewards. In this way, Bitcoin can remain decentralized. It makes no sense for a cryptocurrency to be connected with governments and banks; there are much more efficient value transfer systems available in trusted settings. But in the future, I think governments and banks will try to sell this idea of government-backed crypto to the masses, in order to compete with truly decentralized cryptocurrencies like Bitcoin. This is happen now miners regulate Bitcoin, they can push price up or down how they like, we small investor can only watch. They sacrifice small quantity of Bitcoin to pump up and big quantity which they have rise on value. Remember miners will become new bank-gov of crypto and will be same like is now. |
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RodeoX
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The revolution will be monetized!
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August 15, 2017, 05:21:35 PM |
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If you read the article it says something quite different than zerohedge's click-bait title. It is about "illicit finance" like money laundering. Not about bitcoin, beyond the fact that it will be policed like every other market. There is no surprise here. Actually it would be a surprise if the government said that bitcoin will be considered free money unlike anything else in the economy. |
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RajaJudi
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Less is more
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August 15, 2017, 05:27:50 PM |
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I do not think that bank will start a war against bitcoin due to many reasons. Bitcoin is good right now and people are in love with bitcoin. The number of bitcoin users increases every year and if banks against bitcoin, the number of people who use bank will decrease sharply
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drwhobox
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- hello doctor who box
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August 15, 2017, 05:28:36 PM |
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For thoes who decline bitcoin as a alternate currency for thier country it is because of there is no tax when it becomes to bitcoin compared to normal. so that's why they are try to make bitcoin illegal in thier country. Some countries are full of corruption that's why they do not what to make bitcoin a currency or making it illegal in some specific country.
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Coffee135
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August 15, 2017, 05:38:48 PM |
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I do not think that bank will start a war against bitcoin due to many reasons. Bitcoin is good right now and people are in love with bitcoin. The number of bitcoin users increases every year and if banks against bitcoin, the number of people who use bank will decrease sharply
All the reasons you've mentioned more talking about the fact that banks are not interested in the turnover of bitcoins. The state is also not interested in this competition. Fiat money is the blood of economy of any state. All who recognized bitcoin is to exchange Fiat for bitcoin and kept the BTC. All Fiat will gather in the Treasury and the economy will stop. |
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