The hubris of b(w)ankers

[meanig]

I found this blood pressure raising thread from a banking forum that I read

OP

I know there are some topics on Bitcoin but I wanted to ask anyone willing to participate what they thought about Bitcoin?

What are your concerns and do you think those concerns can be addressed?

Here is why I am interested. Years ago I helped start a small payments company that is now relatively ubiquitous and almost part of the internet culture. I think...

During those early crazy days, I remember going to industry conferences and hearing hushed whispers about us when we'd walk through the crowd. All sorts of rumors prevailed and one of my responsibilities was to help allay the fears of bankers and law enforcement. And ultimately I think we did a good job and built a truly world class system for investigations and AML/BSA/OFAC monitoring.

I find myself in a similar situation now and I am excited about the challenge. I think we are building a Bitcoin group that will hopefully knock the socks off the industry and will more importantly bring about the same trust and cooperation I experienced back in 1999-2002 in my previous company's "early days".

So please let me hear it what is it about Bitcoin that has everyone so concerned. So is obvious but I want to see for myself. I have already started working with federal law enforcement on some areas relating to this and know their concerns.

So let's chew the fat (just not my fat pls)

John

First reply from a self confessed bankster

Well, considering I have been a banker my whole life and I absolutely have no idea what a bitcoin is, except something that is digitally created and it supposedly has some worth, I guess I am not sure of any need to create an unknown and totally unregulated form of exchange. Maybe I am just old, but what is wrong with old fashion currency and credit cards unless you believe the conspiracy theorists regarding the fallacy of the current economic systems. They say they can't be counterfeited. I find that just a little beyond believe as everything is scammed sooner or later.

Personally, if the world comes to an end, I think I will stay with my gold coins over digital money when the electricity goes out.

So this life long banker thinks 50% youth unemployment, 0% interest rates, high inflation and insane asset bubbles only exist in the realm of conspiracy theories? What a self loving kunt 

What's it going to take before these people see the harm that they've done to the world 

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[aigeezer]

The "bankster" reply does not seem genuine to my eye, mainly because of the flawed grammar and talking-point style, as well as the gold-bug punchline.

I have no love for banksters, but that excerpt doesn't feel like the real thing.

Time will tell of course which way they will jump with respect to BTC. Early indications are mildly negative, I think, and probably somewhat worse from government entities who may or may not be their thralls.

Keep an eye on 'em though.       

[niothor]

If you think that bitcoin will help the 50% youth unemployment you're no better than that b(w)anker

[meanig]

If you think that bitcoin will help the 50% youth unemployment you're no better than that b(w)anker

Where did I say that Bitcoin will lower unemployment. My point was about the condescending notion from finance professionals that anyone who questions their methods is a conspiracy theorist. The question I asked was how bad do things have to get before they give up their smug ways and show some contrition. My guess is they'll only beg forgiveness when they see the gallows on Westminster bridge.

[tutkarz]

And what to expect from banker who have a lot of money, never leaves his rich neighbourhood and don't even know how real world look like.

[Snail2]

Well he has some valid point when he talking about scamming, gold coins and electricity.  You can have tens of thousands of bitcoins but without electricity your wallet is as valuable as the readme.txt in the C:\windows directory...

Actually I'm more worried about the plans of the first banker.

[ktttn]

If you think that bitcoin will help the 50% youth unemployment you're no better than that b(w)anker

Some percent of that 50% is unemployed because of distrust of banks, scorn for the IRS, and distrust of the corporate rich employers and perhaps even fiat in general.
Hippies, drug dealers, welfare collectors, ect.
I for one am in that subpercentage.