What would happen if the banks take control of Bitcoin?

[gigi55]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

[fhl182]

They would cripple it and impose high fees?

[gigi55]

IMO. The bankers have most of the XRP, they are going to take advantage of the BTC correction to put it in first place and create FOMO, lower even more to BTC, sell XRP and buy all the BTC. The ALTS will die with the lowering of BTC and the subsequent unchecked rise of BTC. Controlling the BTC would have control of the rest of the coins. No ALT can go up faster than the BTC and create more BTC.

Am I crazy? I promise you that I had that vision last night

Sorry for me English

[Helen.m]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

it is difficult to them cause BTC faster and there are no legal norms as we now ALTS can not live without norms

[Cryptalking]

What would happen? Well one thing is for sure and that is that it will not end very well for BTC holder i guess. considering they dont like BTC at all there will be a big possibility that they would likely tax BTC with ridiculous amounts such as 75% or something...

[Tonestra]

That's not possible. bitcoin runs on a decentralized distributed ledger protocol. The very essence of bitcoin is to give back the power of control to individuals over their money.

[WUUEX79]

Yes, they will cripple it at high fees for their (services). Thus, it will adversely affect the development of bitcoin and altcoin (cryptocurrency), because bitcoin and altcoin will be abandoned by their fans, then the bank will shut it down, citing the pressure from the government.

[MadonnaLover]

IMO. The bankers have most of the XRP, they are going to take advantage of the BTC correction to put it in first place and create FOMO, lower even more to BTC, sell XRP and buy all the BTC. The ALTS will die with the lowering of BTC and the subsequent unchecked rise of BTC. Controlling the BTC would have control of the rest of the coins. No ALT can go up faster than the BTC and create more BTC.

Am I crazy? I promise you that I had that vision last night

Sorry for me English

This is quite an interesting view. I cannot rule out that there is something true. But they won't be able to get many BTCs because BTC whales are whales exactly because they don't sell. They won't get enough BTCs to make a real difference.

[gestknpa]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

I have never thought of this before. And this kind of thing basically can not happen.

[bitcoinVPSD]

This is bad .. if it is controlled by the bank I am sure it will be imposing fees, controlling the value, and the procedure will be applied bitcoin. I do not want what happens to it to grow naturally

[Rodge182]

The price I think would be stable, they will impose some regulations. The true meaning of a decentralized currency will be forgotten. I don't think it will happen, but these are the possible scenarios.

[CohY4ohvoh]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

How bank control bitcoin? it’s better to say miners control bitcoin.
 if the banks take control of Bitcoin they will ask for ID and will start banning countries

[Rodge182]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

How bank control bitcoin? it’s better to say miners control bitcoin.
 if the banks take control of Bitcoin they will ask for ID and will start banning countries

I believe that is true. The Control is on the miners and mining pools. They are responsible for how are tx fees should go. So I'd say miners and mining pools more likely to take control than the banks.

[akram143]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

This is just normal if the bitcoins rise altcoins will fall and vice versa but bitcoin is a decentralised coin which means no one can control it.The price can be decided by the supply and demand so if the bankers can control the demand of bitcoin they can control the price but it is most likely will not happen because market cap of bitcoin is too high so it is impossible to control it completely.

[expert4knowledge]

They can just kill it and we are fucked, but it would be a big waste of money for them

[kkaroul4]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

I am sure bitcoin will be stable again as long bitcoin up and down but until now it is still successful bitcoin investors because they have high confidence will be successful to invest with bitcoin

[gambitcoin53]

That's not possible. bitcoin runs on a decentralized distributed ledger protocol. The very essence of bitcoin is to give back the power of control to individuals over their money.

agree, it is impossible for banks to run bitcoin exclusively, bitcoin holders are everywhere, no papers, no documents no reference, how would they use bitcoin, they have no idea how much bitcoin is out there in the internet, they do not have the capacity to hold huge amount like that, holders are anonymous and encrypted, who will they call, you are right, the essence of bitcoin is the holders privilege over their on money. bitcoin would not be created if banks has the control over it.   

[ngoinhahoahong]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

Many banks in the world have accepted and acknowledged bitcoin as a means of payment and deposit as well as a reserve of bitcoin as a new economy, so now is how to get at least 100 bitcoin for descendants.

[HabBear]

If BTC goes up, the ALTS goes down.

This statement is 100% not true.

If BTC goes down, the ALTS goes down.

Again, totally false. Bordering on lie if the OP is try to deceive us.

What would happen if they control most of BTC?

People would abandon Bitcoin and move to Bitcoin Cash, Litecoin, Ripple, Monero, Dash, etc. That's the beauty of it, the bank can't control them all!

[madainfamous]

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
 Thanks you!

It would be bad for the bitcoin users when banks started to take control of bitcoin. There will probably a much higher transaction fees for its users. But also, altcoins will benefit from this because it will reduce the risk for its company and investors.