Governments and banks are using you

[Kiweikoo]

Bitcoin is a freedom of transaction that uses crypto. Of course this does not have kaitanya with the government or the bank. the bank is just a tool where we can transfer the bitcoin we have. And could someday the government will work with banks to create crypto for its customers. If this really happened then there is no freedom gained by customers like in bitcoin. And I'm not sure that people will switch from bitcoin, and follow the crypto made by the government. Maybe only a few people will use it.

People are found of bitcoins just because they provide complete freedom to the users and they have a full liberty of spending their money the way they want to without paying heavy taxes. Yeah! Even if the banks and governments create their own crypto currencies, no one is going to use them.

[Biggapp]

Bitcoin is a freedom of transaction that uses crypto. Of course this does not have kaitanya with the government or the bank. the bank is just a tool where we can transfer the bitcoin we have. And could someday the government will work with banks to create crypto for its customers. If this really happened then there is no freedom gained by customers like in bitcoin. And I'm not sure that people will switch from bitcoin, and follow the crypto made by the government. Maybe only a few people will use it.

People are found of bitcoins just because they provide complete freedom to the users and they have a full liberty of spending their money the way they want to without paying heavy taxes. Yeah! Even if the banks and governments create their own crypto currencies, no one is going to use them.

Crypto currencies of banks and governments will not be tax free like bitcoins and now even completely decentralized. We will be again charged with high transaction fees etc. Definitely no one is going to use them in the presences of bitcoins. That’s why banks hate bitcoins to bits.

[Clavulanic]

Bitcoin is a freedom of transaction that uses crypto. Of course this does not have kaitanya with the government or the bank. the bank is just a tool where we can transfer the bitcoin we have. And could someday the government will work with banks to create crypto for its customers. If this really happened then there is no freedom gained by customers like in bitcoin. And I'm not sure that people will switch from bitcoin, and follow the crypto made by the government. Maybe only a few people will use it.

People are found of bitcoins just because they provide complete freedom to the users and they have a full liberty of spending their money the way they want to without paying heavy taxes. Yeah! Even if the banks and governments create their own crypto currencies, no one is going to use them.

Crypto currencies of banks and governments will not be tax free like bitcoins and now even completely decentralized. We will be again charged with high transaction fees etc. Definitely no one is going to use them in the presences of bitcoins. That’s why banks hate bitcoins to bits.

I am not into that speculations right now and I don't think that banks now hate bitcoins, because the bank right now in my country accepted bitcoin payments transactions like those exchanging btc to fiat currency. The online wallet I had was been affiliated to the central bank of the country, and I believed that it's part of their business platform that allowing this type of transactions can make them earn the biggest profit ever. So never think of any idea about banks were using us, and in fact banks were most important for us in any exchanges of our bitcoin to become spendable in the country we live while bitcoin payments isn't yet available.

[Ngewex Yuk]

yes, banks and governments have unlimited access to us so there is no secret. I think the government should immediately change this is the time for them to maintain privacy. bitcoin and cryptocurrency can be used to keep our secrets.

[Hui8]

Oh come on that no way is true. That is far fetched topic you have written. Bitcoin no matter what his many cons you give about it, it will always be best currency to trade and invest. Whatever you speak negative about it, but you will find the craziness and popularity of bitcoin growing daily and that's not gonna stop any time. Have you seen the price, how it keeps growing and growing and sometimes you see your wallet is all filled with money that you earned from the interest of bitcoin. There is lot more to study about bitcoin and government, banks they are just scared of the bitcoin economy growth.

[Milo_Kidd]

Both of us are using each other. We used their service to invest or to transact money. And also they used us to be their client. But they are more binificiary compared to us. The more the client is the more they will earn.

[Weawant]

Both of us are using each other. We used their service to invest or to transact money. And also they used us to be their client. But they are more binificiary compared to us. The more the client is the more they will earn.

Maybe we became there sock puppet or shall we say a milking cow for them to get a huge benifits from us but there's a good factor about getting some money on each people leave in there state since government need some funds just to have money to used on there good platforms and projects. And I don't know how things work in the bank since the one I know there is we can make our money more safer but in return. And surely they can get more benefit to us and just don't think about it since its so normal in this society today.

[Lenzie]

I'd like to read what you are reading, to gain morw knowledge in bitcoin. What took them so long. It has been years since crypto has been made. Are there speculations, not yet made?

Anybody who has invested in crypto during the last couple of years will know that the market can move overnight. It is okay if banks and governments learn from the problems faced by Bitcoin. They will not be able to introduce a coin with Bitcoin's biggest advantage - decentralization.

They might be, oh they can. Yet that will not be as popular than bitcoin.

[xaviervilla]

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

I get where you are going at op, but the thing is, only careless investors invest without understanding how markets work or the dact that these markets really does change fast. But i highly doubt anyone is stupid enough to let go of their money on silly things they hardly even know about. Plus, if banks do release a crypto currency of their own, then ok. It doesn't bother me at all. Because even if banks learn a lot on all the crypto currencies out there, people will still choose bitcoin because even with its flaws, it fills out the bigger flaws in this world. If you know what i mean.

[Similificator]

Backed by fiat currency.

Lack of patent.

What do you mean by these two comments? You're listing mistakes cryptocurrencies have made and these two are on that list.

Bitcoin is backed by fiat currency? Since when?

Bitcoin lacks a patent? Why does it need to be registered as an invention with a company?

I think you may misunderstand a bit how Bitcoin works (and call me out if necessary).

Bitcoin isn't backed by fiat currency. The reason people refer to the value in terms of fiat is because that's the currency that people use to buy and sell it. Bitcoin isn't backed or pegged or hinged to the value of a fiat currency. It's performance or existence isn't dependent on fiat currency.

Bitcoin is a project, creation, invention that isn't bound by any government. A founding principle is that it fills a void in the money system that's been lacking free access, support, and market. For Bitcoin to be registered for a patent would completely and directly undermine what Bitcoin is meant to be. It's meant to operate independent from any central entity (especially government). Trying to gain approval and protection to exist from a government would be the single greatest irony Bitcoin could achieve (and not for the better.)

If I've misunderstood you, please let me know.

I stringly agree. And even if the government and their banks build a new crypto currency that they might think is flawless, they will not get people to move from bitcoins to their own crypto currency. Because the main reason as to why people went to bitcoins(other than greedy fcktards that only want profit) is to be freed from all the chains of the governments and their banks. They want to lose all of those watchful eyes that wants to know everything they do and about everything they have and tax on everything they can. Fcking hate how the system today works.

[jekjekman]

Another conspiracy about bitcoin when it comes to Governments and Banks about using people, we all know that government and banks are really uses people to function because without them they are nothing and will not function as they should be.

It is a matter of choices though if you really think that way then don't invest with bitcoin or any other kind of crypto. But at the end of the day there is winners and losers, people who is in power really controls the world but if you just keep on ranting about the government it is your choice whether it is true or not.

[n0ne]

Governments and banks were using each and every one's earnings directly or indirectly, at the same time there are governments and banks that are serving the people and making them grow financially and in terms of technology. This gives the government a combined growth along with the people who are into it.

[Milo_Kidd]

Both of us are using each other. We used their service to invest or to transact money. And also they used us to be their client. But they are more binificiary compared to us. The more the client is the more they will earn.

Maybe we became there sock puppet or shall we say a milking cow for them to get a huge benifits from us but there's a good factor about getting some money on each people leave in there state since government need some funds just to have money to used on there good platforms and projects. And I don't know how things work in the bank since the one I know there is we can make our money more safer but in return. And surely they can get more benefit to us and just don't think about it since its so normal in this society today.

Yeah, we cant change the things that reality says about. Thats life. Everyone is struggling in this challenging world. If you want to be success in your goals I you should go with the flow and grab the oppotunity if there is. If everyone is competing try to make a way the they cant let you down.

[filharvey]

I do agree that bitcoin has certain drawbacks and i agree that governments and banks have already adopted the block chain technology on seeing its excellent mechanism and they all are keenly watching bitcoin's performance.I too agree that they are trying to create their own crypto currencies and they are just waiting to learn more from the mistakes of bitcoin and problems which it faces.But even if they release their own coins,it would still miss a major feature of bitcoin,the decentralization.I don't think that people would like to once again go into the hands of government completely.They are already enjoying financial freedom with bitcoin and i don't think that they would deliberately once again do that.More over,bitcoin is not backed by fiat.Bitcoin is mostly driven by community support.It value increases with the increase in demand for it.So,crypto currencies if issued by governments and banks still would not get universal support.

[aardvark15]

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

There is a big difference between a government cryptocurrency and an independent cryptocurrency. A government or bank controlled blockchain is a private ledger. The Bitcoin blockchain is a public ledger. I think this distinction is the key to the success of Bitcoin. It won't be controlled by a government or bank and all transactions are available in a public space. Nothing hidden or manipulated by a central authority.

[hardforkcoin]

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

There are many altcoins that aren't considered crash test dummies.

Obviously ETH has the ability to launch all of these different tokens and start new businesses. That is pretty amazing to me. ETH is more like a stock offering and a way for new innovation to raise capital.

Bitcoin is more of the store of value, cash, peer to peer transaction we want to use for everything else.

[cpfreeplz]

Time to dumb it down for the stupid OP.

High fees.

LOL. How much does a wire transfer cost? Could you explain to me how bitcoin transactions cost more?

Slow transactions.

I though instant was fast. Where you dropped as a baby? Confirming a transaction does not equal performing a transaction. Next!

Volatility.
If you have solved volatility in the early days you have created a central bank, and therefore you have created yet another worthless shitcoin.

Insecurity of wallets and exchanges.

My paper wallet are very secure. If they aren't you're welcome to hack them. Come on, go ahead and prove your point. Exchanges? Don't use them wouldn't know.

Public distrust... created by governments and central banks. LOL. Need I say more? Public distrust came with this bat-shit scary thing called an 'automobile'. Somehow horses aren't the #1 way to travel anymore though. Weird.

Reactions to media attention.

Huh? My reaction is usually "they called a bitcoin address an account. They obviously whipped this up in 10 minutes with 0 research. Idiots"

Criminality/money laundering.

Bitcoin is officially the first currency to be used for crime folks. We're all terrorists and drug dealers here, right? Oh no wait I have a job and have never done drugs. Huh. Anything else left to debunk?

Backed by fiat currency.

You can't back something with something that doesn't technically exist. What is my piece of paper worth? Nothing. What is a piece of paper that the government has printed on worth? $20, or $100. Depends whose picture they decide to print on this batch. Is that something that sounds logical to you? Sheep.

Lack of patent.

Open source. Who patented email? Good luck with that.

Shitty troll OP. Try harder.

[feiss]

Anybody who has invested in crypto during the last couple of years will know that the market can move overnight. It is okay if banks and governments learn from the problems faced by Bitcoin. They will not be able to introduce a coin with Bitcoin's biggest advantage - decentralization.

i agree bank can issue a coin but it will not decentralized
they are not watching if they can make it they already made it
bitcoin is already more than 8 years and still a lot of room to grow
when i start in bitcoin i also think that it will never last but until now bitcoin price keep growing
and it leave permanent emotional scars in me because i didint buy a lot when the price is still low

That's true, all banks are centralized which is nothing difference in the system of the government. which means they are same only the banks and the government, That's why thanks into bitcoin due to it is decentralized.

Government and banks are common in implementing the rules and laws in their jurisdiction place. Government place all the funds in banks while banks used those money to transact in the other banks or other institutions to make their investments grow.

[ethereumhunter]

governments and banks is already using us but with bitcoin, they don't control us, they can only watching our bank account is increase because we exchange our bitcoin into money. maybe in some day governments and banks will create their own currency for online and hope that people using that currency while they can watching their member make transaction but i don't think that people which in bitcoin industry will use this as i know some of us don't like their account to be watched by anybody.

until now, community of crypto currencies still giving a big support for the coins and they make sure that crypto currencies will stay for a long time and we are see that the new era is come to us and many people is interesting too like us. if people can open their eyes and their mind that if new technology come to them, they use it, i think they will get many benefits from that technology. and maybe they thinking that bitcoin can give freedom to them to manage their own money and governments and banks can not interfere with their private account.

[Sled]

Even the banks alone are using us. When we decided to make a savings account on banks then the savings or the money that we are going to put in the banks will be used for the investment opportunities that they see and they will not tell us that because their strategy is to encourage more and more people to use their service so they will have more profits because of the bigger capital.