Bankers are killing the cryptocurrency market

[jaocoincrypto18]

Though I share the suspicion towards bankers, I don't think they have anything to do with the recent drop. It is more an effect of the recent FUDs  plus the market in Europe with the EU dropping from a 3-year high. Or at least those are a factor. Only just seen this in the news earlier.

The most that bankers would probably do with bitcoin is to try to get a share of it.

I agree with you because here in our country our Central bank is very supportive to crypto currencies in which they help us by releasing a guidelines on how scam sites will be prevented and also our major banks are in partner of out local exchanges in which we could cash out our converted fiat over the bank counters directly so therefore banks have nothing to do with this crash.

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[European Central Bank]

i think the op is confusing market caps with real money. you couldn't take 1% of the market cap out of most of those coins without them collapsing to zero. those huge volumes are the same coins being cycled around the exchanges.

it's not bankers. it's people. most people are greedy and they're seeing crypto as the easy way to get rich. that's what people want.

[Canis Majoris]

You watch too many movies, there is no conspiracy lol

Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin.

Maybe its not about how the government destroys BTC, but how they regulate the hell out of it and make it very hard for ordinary people to use.

The exchanges are the weakest links if you ask me. They might start attacking those.

But who, banks? banks have no legal authority. On what legal grounds? Why do I have to use an exchange? I spend my coin not sell them, so I don't need an exchange. And if my government were to "go after" me... I would just move to another country and take my money with me. 

I don't think you will be leaving the Earth any time soon. Because it is not about some government going after you. Today they are all after you. Well, not quite today but you get the point. If all major countries collectively outlaw Bitcoin, where will you go? Exchanges are the weakest link but they are not the only link in the chain which connects you and your bitcoins, metaphorically speaking. And they will find a way to sever it.

I do understand what your concern is. Banks could use their power to lobby for laws that restrict bitcoin, etc. I think that is happening to some extent. But their power is limited and the world is a huge complex place far beyond the control of banks. 

Banks are in competition with each other and could make huge profits servicing bitcoin. It may be just the ticket for some small bank to explode. Why wold such a bank want to hurt bitcoin? There is also the problem of people just using it anyway. There is no central authority to stop me from using it. And the government has not complained to me about the checks they receive quarterly. What's their incentive? 

I also see what your point is. Banks supposedly could make some profits working with bitcoins, though I doubt if they would be huge. First you say yourself that you don't need exchanges and likely neither do you need banks so you are sort of contradicting yourself here and your claims. And then Bitcoin is not used anywhere near to being universally accepted in the world even if the world is "a huge complex place far beyond the control of banks". In short, it is not so much about you using Bitcoin as it is about other people using it too.

[Vatimins]

If not bankers, who would do such a thing?
What is happening right now is far beyond the whales.

PLEASE, TAKE A LOOK AT THE MARKET TODAY!

...

Bankers are just doing this to blackmail bitcoin and altcoins to force governments around the world ban cryptocurrencies.

Source: my imagination.

Very reliable source, oh yeah!

  Look op, judging by your rank, i think that you have also been here for quite some time also. And if i am not mistaken, you should've already read a lot about not just bitcoins but also about most crypto currencies existing. And i honestly think that someone like you have at least looked at the history of cryptos at least once or twice on how they move every month of every year. Which is why i do not understand the reason for your worries. I mean, don't you see that this corrections are healthy for the world of crypto as a whole?

Unless, you can show things that prove your claim, i really wouldn't be worried. Instead, i would be happy since this is a great opportunity to invest amd gain more profits. Just sayin'.

He just thinks like that and wants to persuade us about it just by looking at cmc. Don't believe everything you read on forums. I suppose this post will get many shitreplies: "Oh yeah! ****ing banksters!"

Nonsense. It's totally normal for bitcoin to drop like this. It has happened many, many times. Until we get down to $5000, it's barely even a crash.

Totally agree.

    I know right? Just doesn't make sense. Which is why i wanted some proofs that can back up this claim. Solid ones. Because even though the cryptos are completely unpredictable and anything can happen, every claim is just as good as any claims out there unless proven true by the one spreading the fud.  Having said all these, my stand still remains. I won't believe this crap unless proof is presented here on this thread.

[19dimasik77]

Of course they do not want to lose control and profit. Making the world completely decentralized is still a utopia. At this point it is a source of profit and some illegal action. But I hope that the situation will change.

[Canis Majoris]

Of course they do not want to lose control and profit. Making the world completely decentralized is still a utopia. At this point it is a source of profit and some illegal action. But I hope that the situation will change.

We don't need to make the world completely decentralized at one go. Rome wasn't built in a day. It should be a constant process even if we have to retreat sometimes. Crypto has shown us that decentralization is certainly possible thanks to cryptography. If governments manage to collude in their crusade against the cryproworld, they may win some time for themselves. But everyone and his grandma already know that, first, it is definitely possible to decentralize the world, and, second, they are very, very afraid of that, which proves the viability and possibility of such decentralization.

[Andrej Peiboski]

The right sentence should be "Bankers are TRYING to kill the cryptocurrency market"
And even in this case I agree only partially.
All the bankers want is to keep control on the financial system, and bitcoin is something they can't control.
At least for now.
So, we can expect all kind of tricks from bank and governemnts.
But I'm very positive that thay won't succeed, even it will be a bloody war.

[ladydark]

  Look op, judging by your rank, i think that you have also been here for quite some time also. And if i am not mistaken, you should've already read a lot about not just bitcoins but also about most crypto currencies existing. And i honestly think that someone like you have at least looked at the history of cryptos at least once or twice on how they move every month of every year. Which coin,is why i do not understand the reason for your worries. I mean, don't you see that this corrections are healthy for the world of crypto as a whole?

Unless, you can show things that prove your claim, i really wouldn't be worried. Instead, i would be happy since this is a great opportunity to invest amd gain more profits. Just sayin'.

Yes corrections are good for the progress of bitcoin.I would say that instead of sudden increase in price in bitcoin and reaching ATH price of $20,000,it would be far better if the price rise slowly.Overnight success should not be expected.I have been in this crypto market for the past two years and we have enjoyed each move by this marvelous crypto currency and we never expected bitcoin to reach such an ATH of 20,000 dollars within a month and we were a little bit shocked instead of enjoying it as we clearly know that it's not at all good for the progress of bitcoin.But not everyone especially newbies think like that.

[Dragon5]

Still bankers are closely connected with governments. The Chinese government admires the technology that underpins virtual currencies
and wants to reap the benefits. It is prodding its big financial firms to experiment with blockchain. But officials obviously believe they can do this without
having to tolerate the currencies themselves.

[Lupus Solitarius]

I don't think they really want to kill the cryptomarket: they only want to profit of it and to keep the control.
I suspect that very soon any bank will have its own currency, and will try to convince its client that it's better than bitcoin.

[ActionJackson]

bankers wanna profit from cryptocurrency and not destory it...

[Vatimins]

   Look op, judging by your rank, i think that you have also been here for quite some time also. And if i am not mistaken, you should've already read a lot about not just bitcoins but also about most crypto currencies existing. And i honestly think that someone like you have at least looked at the history of cryptos at least once or twice on how they move every month of every year. Which coin,is why i do not understand the reason for your worries. I mean, don't you see that this corrections are healthy for the world of crypto as a whole?

Unless, you can show things that prove your claim, i really wouldn't be worried. Instead, i would be happy since this is a great opportunity to invest amd gain more profits. Just sayin'.

Yes corrections are good for the progress of bitcoin.I would say that instead of sudden increase in price in bitcoin and reaching ATH price of $20,000,it would be far better if the price rise slowly.

Well, the sad thing is, not everyone sees this. What these newbies want are straight and fast price rises all the time. These greedy bastards want this to happen because obviously they want to get very high profits amd when they already get what they want, they will relentlessly dump all their holdings and ride through the sun set on their Lamborghinis with their hoes. Well guess what, it doesn't work that way. People do not have the same mindsets, and the same needs and wants at the same time, everytime someone wins, there must be someone who takes the loss. That is how it works here in the crypto world. The earlier you accept the truth, the earlier you will be able to adjust and get used to this trend. Just sayin,'.

[arlington]

I do believe that the fall on prices is very normal due to high increase in a short period of time and the correction for the sake of the market needed to come, it is ok I guess.

[Barbarian]

If not bankers, who would do such a thing?
What is happening right now is far beyond the whales.

PLEASE, TAKE A LOOK AT THE MARKET TODAY!


snip

Bankers are just doing this to blackmail bitcoin and altcoins to force governments around the world ban cryptocurrencies.

No that is just people taking a pounding and panicking because they thought they could make some easy money and now they are discovering they are going to lose all their money and they were never prepared to face the consequences of trading in the first place.

[Sled]

I don't think that the bankers are the killers here because in fact, the cryptocurrencies are the killers here because they are killing the bankers slowly but surely which i agreed about because this is the time for the centralized people to get off from our economy and let us, the decentralized people be the superior because it is about being equal and not depending on those centralized organization.

[kryptorian]

   Look op, judging by your rank, i think that you have also been here for quite some time also. And if i am not mistaken, you should've already read a lot about not just bitcoins but also about most crypto currencies existing. And i honestly think that someone like you have at least looked at the history of cryptos at least once or twice on how they move every month of every year. Which coin,is why i do not understand the reason for your worries. I mean, don't you see that this corrections are healthy for the world of crypto as a whole?

Unless, you can show things that prove your claim, i really wouldn't be worried. Instead, i would be happy since this is a great opportunity to invest amd gain more profits. Just sayin'.

Yes corrections are good for the progress of bitcoin.I would say that instead of sudden increase in price in bitcoin and reaching ATH price of $20,000,it would be far better if the price rise slowly.

Well, the sad thing is, not everyone sees this. What these newbies want are straight and fast price rises all the time. These greedy bastards want this to happen because obviously they want to get very high profits amd when they already get what they want, they will relentlessly dump all their holdings and ride through the sun set on their Lamborghinis with their hoes. Well guess what, it doesn't work that way. People do not have the same mindsets, and the same needs and wants at the same time, everytime someone wins, there must be someone who takes the loss. That is how it works here in the crypto world. The earlier you accept the truth, the earlier you will be able to adjust and get used to this trend. Just sayin,'.

Correct me if I'm wrong, but isn't this called a zero-sum game when someone wins someone else necessarily loses? And this is even truer with respect to speculative markets. If Bitcoin got wider adoption in real life and commerce, peeps could spend their coins on real things, and that wouldn't be a conflict game. But as long as bitcoins are bought with the sole purpose of selling them later, this will remain a selfishly optimal strategy. Here I refer to your statement about people relentlessly dumping their holdings and riding through the sunset on their expensive cars with whores.

[BaraxLo]

The right sentence should be "Bankers are TRYING to kill the cryptocurrency market"
And even in this case I agree only partially.
All the bankers want is to keep control on the financial system, and bitcoin is something they can't control.
At least for now.
So, we can expect all kind of tricks from bank and governemnts.
But I'm very positive that thay won't succeed, even it will be a bloody war.

I’m aware they want to create a state-backed cryptocurrency, but that is no good reason to fight Bitcoin. By the way, if they create a state-backed cryptocurrency, it won’t be decentralized, but rather CENTRALIZED. I don’t really think it’s banks that are fighting against Bitcoin, although I do see economists saying all sort of things, I just think the reason is that big investors are withdrawing the profits they have made so far.

[Cryptolupus]

This is the real point: bitcoin, banks, governments, bans, and so on are just details.
The war is centralization against decentralization.
If the idea of a decentralized blockchain will work, it will be applied to so many thing that will destroy the idea of traditional power.
And it seems normal to me that traditional centers of power don't like this trend and try to stop it.

The right sentence should be "Bankers are TRYING to kill the cryptocurrency market"
And even in this case I agree only partially.
All the bankers want is to keep control on the financial system, and bitcoin is something they can't control.
At least for now.
So, we can expect all kind of tricks from bank and governemnts.
But I'm very positive that thay won't succeed, even it will be a bloody war.

I’m aware they want to create a state-backed cryptocurrency, but that is no good reason to fight Bitcoin. By the way, if they create a state-backed cryptocurrency, it won’t be decentralized, but rather CENTRALIZED. I don’t really think it’s banks that are fighting against Bitcoin, although I do see economists saying all sort of things, I just think the reason is that big investors are withdrawing the profits they have made so far.

[fachant]

Bankers are just doing this to blackmail bitcoin and altcoins to force governments around the world ban cryptocurrencies.

Banks will always fight with cryptocurrencies because they lose the opportunity to make a profit. They do not make money on granting loans, they have no control over the flow of money. That's why they can not accept it.

[munareal]

I do not think that bankers can kill the crypto currency market. Crypto currencies life span is not in their hands . The communities of crypro currencies are the ones that will determine what happens to it.