SushiMonster
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Activity: 306
Merit: 107
I'm going to eat your cookies
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October 22, 2017, 01:23:48 PM |
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If the exchange rate of USD and bitcoin becomes higher a lot of people will invest to it, and soon transactions on bitcoin will be made as well.
Its just a matter of time before the government will try to manipulate bitcoin.
Of course, the lack of control of the government toward this is a threat. For example, On illegal businesses, bitcoins can be used for illegal acquisition of items in the black market which I think is possible - government cannot tracked the bad guys.
Also, since the government has no control they cannot taxed every transactions made with btc which is also a loss of income to the government.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Rina_rins
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Activity: 97
Merit: 10
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October 22, 2017, 01:35:34 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?
Almost all banks refuse bitcoin, because in the future no longer needed bank for transactions, bitcoin does not recognize inflation which makes the bankers / elites no longer able to control the value of the currency. But the biggest disadvantage of bitcoin is its anonymous, it should be traced so that users for negative transactions can be overcome. |
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Opquar
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October 22, 2017, 01:53:42 PM |
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Nobody will not start war, people was using banks till bitcoin came and they will use them, because banks have the most powerful defence for their clients, u can save there money and put them for %, bitcoins is like a black money, both system getting unbelievable profit and nobody dont want to loose their reputation.
Banks hate bitcoin actually. Bitcoin places control from central entities such as banks, to the actual owner of the money. No one will need their services if everyone starts using bitcoins. |
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lazer1064
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October 22, 2017, 02:05:09 PM |
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bitcoin is a competitor for some types of banks that deal with sending customers' money to offshore. This is primarily the banks of England and Switzerland, and some others. For them, bitcoin is the enemy first.
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SixOfFive
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October 23, 2017, 08:02:03 PM |
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Banks are definitely a big time HATERS of BTC. It is because if people start using BTC instead of fiat, nobody going to keep the money in their bank account and it all starting transfer to their crypto wallet. If something like this happen, whole economy will collapse coz bank never have that much cash reserve with them that give payment to all the depositors. NO DEPOSITS...NO LOAN SERVICE...means NO REVENUE.
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SixOfFive
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October 23, 2017, 08:07:15 PM |
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Some banks in my country are claiming that they are trying to "adapt" blockchain which is for them a new technology and they seem to be proud of it. They might have seen some kind of danger in Bitcoin, time will show us.
Banks are never against BLOCKCHAIN technology. They also do appreciate this technology and accept that BLOCKCHAIN is the future of banking services. What worries them is the decentralized Currency which are already being trading on this technology. |
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admissions
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Activity: 107
Merit: 12
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October 23, 2017, 08:23:49 PM |
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If it was going to happen then it would of already be happening now. The price is strong and the community is growing they have probably missed their chance.
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Shuffle2017
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Activity: 13
Merit: 0
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October 23, 2017, 08:44:29 PM |
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Banks are definitely a big time HATERS of BTC. It is because if people start using BTC instead of fiat, nobody going to keep the money in their bank account and it all starting transfer to their crypto wallet. If something like this happen, whole economy will collapse coz bank never have that much cash reserve with them that give payment to all the depositors. NO DEPOSITS...NO LOAN SERVICE...means NO REVENUE.
They will just increase fractional reserve lending to 1:100 or 1:1000 or print more money, they control the system and can tweak it whatever way they want. |
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Activitycoin
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October 24, 2017, 03:35:47 AM |
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Nobody will not start war, people was using banks till bitcoin came and they will use them, because banks have the most powerful defence for their clients, u can save there money and put them for %, bitcoins is like a black money, both system getting unbelievable profit and nobody dont want to loose their reputation.
Yes you are right since bitcoin come to market since from that day till now people are still using banks and bitcoin is not going to do something wrong that bank can start a war against bitcoin is not an enemy that bank can start a war it’s a friend of human beings and as well as it’s a friend of any country so we need to support bitcoin. |
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twicezeroiszero
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October 24, 2017, 07:01:40 AM |
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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?
Banks have realized that he had lost this battle and this they begin to independently implement the blockchain in their systems. I dont think so and they dont really make war on bitcoin but yet they are really against on it but they didnt make any realizations since they can do anything that they want and they can really adopt or make use of blockchain technology which they would really apply for their service which is good. Bank and Bitcoin are on separate ways which we can really see advantages and disadvantages of both things. As your said, do you want these platforms cooperate together? Although the Bitcoin community will not have any problem when become a partner of banking system, but the government can not accept that. Bitcoin can not control by anyone, it is really a big problem to help it get accept from the government. Japan is really one of countries have long-term vision, I am sure Japan will become the richess country in future if other countries still do not have any plan clearly for Bitcoin. |
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kordanallas
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Merit: 0
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October 24, 2017, 07:12:00 AM |
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Some kind of conspiracy theory)
Why should they do this?
Yes, the market of crypto and blockchain will grow, more crypto-friendly shops will appear, more services, infrastructure will improve .. But banks will not disappear and cryptocurrency is not their enemy.
on that, and on another service always there is a client.
Just now we have more choices)
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Afnan_faizah
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October 24, 2017, 08:05:51 AM |
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Some kind of conspiracy theory)
Why should they do this?
Yes, the market of crypto and blockchain will grow, more crypto-friendly shops will appear, more services, infrastructure will improve .. But banks will not disappear and cryptocurrency is not their enemy.
on that, and on another service always there is a client.
Just now we have more choices)
Bank are afraid with bitcoin, they can not underestimate to the growth of cryptocurrencies. They think that cryptocurrency could pose a risk to the stability of the (fiat) financial system. Bank is who print paper money, if people are prefer like to use bitcoin, the use of their product ( paper money) will decrease. This will reduce their income. I think the war is already happen. |
Sepertinya sudah waktunya, kalau menurut saya lebih baik lump sum sekarang. 30/01/2024.
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soham
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October 24, 2017, 09:12:30 AM |
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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?
I think the attack has already been started by the banks. At first, the JPM CEO came up with a false statement about bitcoin being a scam which gave us an immense opportunity to buy bitcoin at a very cheaper price. Then an African bank came up with a similar statement which didn't have any impact. Now a former economist of IMF has stated that bitcoin is a bubble and it can be used for money laundering and terrorism financing activities. The impact of this statement is yet to be seen. So the attack has started and I am sure a lot of other banks will join the movement slowly and start issuing discouraging statements for bitcoin users. |
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whoisyourking
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October 24, 2017, 09:19:51 AM |
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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?
Why banks will start the war if bitcoin will help them to improve their holding capability if they use bitcoin as a online currency. There are some banks adopting bitcoin for payment and some are creating debit and credit card for bitcoin with a name of a bank on it. |
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Bellator
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October 24, 2017, 09:23:19 AM |
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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?
i think when almost half of population of the world uses bitcoin as their primary monetary circulation, when all stores accept bitcoin as mode of payment, but as of now banks still the primary bridge of bitcoins to become a real money much more in countrys that have not yet fully accepts bitcoin as cryptocurrency. |
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Dheo
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October 24, 2017, 09:40:27 AM |
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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?
Why banks will start the war if bitcoin will help them to improve their holding capability if they use bitcoin as a online currency. There are some banks adopting bitcoin for payment and some are creating debit and credit card for bitcoin with a name of a bank on it. Banks are against in bitcoin because if many people use bitcoin or keep holding it, that's very imposible that people using bitcoin are still save their money to the bank that has a little interest, some of people will choose to invest their money in bitcoin rather than to save it in money. |
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kimochidesh
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October 24, 2017, 08:09:38 PM |
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Banks and Financial institution already starting the war against BTC. A few weeks back, CEO of JP Morgan, Jamie Dimon, called BITCOIN as a fraud. Bankers either does not want to talk about BTC or they always say negative about it. But people all around the world are accepting it as payment and investment mode. Increasing market Cap of Crypto-market has really made banker's quite nervous.
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Gradus728
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Activity: 44
Merit: 0
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October 24, 2017, 08:18:34 PM |
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Currently, Bank of America has densely laid eyes on the possibilities of blocking technology. Through the latter, his employees plan to set up a real-time data tracking process. As part of this initiative, the financial institution submitted a patent application describing the use of technology in conjunction with data communication and storage devices to simplify data processing.
"This innovation can be a new technical solution to optimize the existing difficulties in the process of data transfer, processing and management, including monitoring the state of specific files in the general flow," the documentation says.
That's it, gentlemen!
THEREFORE there will be no war between Bitcoins and Banks. BUT THERE WILL BE ONLY THE BANKS THAT SUPPORT THE TECHNOLOGY OF BLOKCHEIN,
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Ben-carson
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Activity: 81
Merit: 10
How you do anything is how you do everything..
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October 24, 2017, 08:20:57 PM |
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I believe they are still figuring out a way to begin fight. Only that they shall try and fail.
They have already seen they cant beat them, reason they are joining them..
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Be good, do good, make better.
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Gradus728
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Activity: 44
Merit: 0
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October 25, 2017, 08:08:18 PM |
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the fact that the banker has become nervous for the media does not yet mean that he himself did not purchase the bitcoin) Banks and Financial institution already starting the war against BTC. A few weeks back, CEO of JP Morgan, Jamie Dimon, called BITCOIN as a fraud. Bankers either does not want to talk about BTC or they always say negative about it. But people all around the world are accepting it as payment and investment mode. Increasing market Cap of Crypto-market has really made banker's quite nervous.
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