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Author Topic: [2017-09-14] Why Big Banks Attacked Bitcoin  (Read 4736 times)
Karartma1
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September 15, 2017, 06:25:42 AM
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Big Banks want to destroy Bitcoin before it destroys them.
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.
That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

More @ https://www.forbes.com/sites/panosmourdoukoutas/2017/09/14/why-big-banks-attacked-bitcoin/#7865456e6c53

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September 15, 2017, 07:40:04 AM
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Destroying bitcoin is only possible if they manage to shut down all the mining farms worldwide, only way to do that is a door to door search of every house and every warehouse in the world with internet access and high power consumption. don't believe them when they claim to ban the exchanges, even if they'll ban all the exchanges it's only the ones operating in China, we still have the major exchanges outside of China.

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September 15, 2017, 08:17:47 AM
 #3

I have heard couple of warnings about bitcoins use from banks already. It's profitable to them to represent bitcoin in a negative light. They are loosing clients and work together with it, cause of bitcoin suggest much more to people than a bank does. I suppose some people will listen their warnings, but meanwhile there are stay many bitcoins supporters who will not let bitcoin to die.

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September 15, 2017, 01:40:43 PM
 #4

Big Banks want to destroy Bitcoin before it destroys them.
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.
That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

More @ https://www.forbes.com/sites/panosmourdoukoutas/2017/09/14/why-big-banks-attacked-bitcoin/#7865456e6c53

On my opinion chinese government just want to regulate cryptocurrencies circulation on their domestic market, get taxes by licensing that kind of business. They just need a pause to figure out, how to treat with exchanges, taxes, ico`s.

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September 15, 2017, 01:45:53 PM
 #5

It is obvious that banks are afraid of bitcoin. However, in the beginning, they see it as no threat to them. But as bitcoin's exponentially growth capping with almost 400% in a year, they simply can't ignore the facts that is already gaining adoption so they have to do something to stop this madness. China started the war already, by banning ICO's and now chasing down their local exchanges. I guess they are really worried that someday, banks will be obsolete because having bitcoin is like being your own bank. Although we read that China just want to step up its regulations on local exchanges and possible if they comply to everything the government wants, they can soon operate. But this remains to be seen.

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September 15, 2017, 09:25:40 PM
 #6

The combination of banks with the aim of their attack on bitcoin is predictable. It would be surprising if they did not try to do it. The Crypto currency completely destroys by centuries the established system of collecting money from the population, offering in exchange new technologies that will deprive banks of a monopoly on the profit from financial activity. However, nothing will come of banks. The banks have already understood this to another, creating their own currency within the banking system.

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September 15, 2017, 11:56:09 PM
 #7

Large banks are always the one trying to block everything with potential that they aren't able to acquire in its entirety. If we look at how toxic their language toward Bitcoin is, it makes you think that they don't understand Bitcoin at all.

But the opposite is true. They know what Bitcoin is capable of, and also know that they might end up seeing their market share shrink significantly due to people taking their finances into their own hands with Bitcoin.

I am actually glad that there are enough banks, and yes, the smaller ones, that do appreciate what Bitcoin brings to the table. There is a Scandinavian bank allowing people to display their Coinbase balance within their banking portal.

If that isn't a major first step from the banking industry towards more Bitcoin friendliness, I don't know what is. Next step hopefully is banks allowing people to buy Bitcoin through their banking portal ~ that will be huge.

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