Bankers are killing the cryptocurrency market

[komjhq]

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.

and yet, to date, quite a lot of bank employees have been speaking in the mass media with statements about the negative consequences of using crypto currency. Thus, it can be concluded that the banking system starts active activity on the black PR of the crypto currency.

[richardsNY]

I do not think that bankers can kill the crypto currency market.

I think that the potential negative sides of bankers here are not even close to what bankers themselves are thinking about crypto currencies. Simply put, crypto takes out the services banks offer to people, and for that reason are frightened just by thinking about Bitcoin as main crypto. These bankers probably were of believe that they could operate for many more years without giving people that extra convenience and usability, but that has officially ended after Bitcoin's entrance. It's no coincidence that since the last few years, banks have significantly improved their services and customer support, where before they didn't care about their customers anymore. That's what I consider to be a fantastic development.

[Cryptomagnus]

Bankers don't really want to kill bitcoin; they just want to enter in the game (as now they realize the importance of bitcoin), and want to buy at the best price. You can bet that in some weeks, after the big shopping will end - the price will rise again.

[a4techer]

I don't think that bankers and government can kill cryptocurency but yes they can banned but some people right now they can manipulate website so that they can enter in cryptocurrency world even thou it is banned. Some of the employee of banks was they didn't like also the cryptocurrency just because of they think that it is bubble. But here in my country some of banks adapt the nature and partnership in cryptocurrency.

[kryptorian]

I do not think that bankers can kill the crypto currency market.

I think that the potential negative sides of bankers here are not even close to what bankers themselves are thinking about crypto currencies. Simply put, crypto takes out the services banks offer to people, and for that reason are frightened just by thinking about Bitcoin as main crypto. These bankers probably were of believe that they could operate for many more years without giving people that extra convenience and usability, but that has officially ended after Bitcoin's entrance. It's no coincidence that since the last few years, banks have significantly improved their services and customer support, where before they didn't care about their customers anymore. That's what I consider to be a fantastic development.

It may be true hypothetically but if we are to stay honest to ourselves, bankers don't have to be afraid of anything, at least not yet. Bitcoin didn't become a competitor to banking services despite all its past warmongering rhetoric. It couldn't solve its scalability problem and is about to collapse under its own weight. How big is the blockchain right now? Around 150 Gb, if I'm not mistaken. And just imagine what's going to happen if the number of transactions grows a few times in a short while? We would be stuck instantly! The current system is not just unscalable, it is quickly becoming completely unsupportable.

[josephpogi]

The opinion makes sense to us to be honest but it's far too early to confirm such big of an allegation considering that the accusations are big and controversial. However, we must support the banking industry as well as we couldn't transfer our cryptocurrencies into tangible cash without them. For now, let's gather enough plausible evidences and act based on the conclusion

[Altcoindealer]

There are some rumors about the wall street boys who controlling with some whales the up and downs of bitcoin. Combined with the futures tradings, there maybe some people who are making a lot of money. But the other side is, that the volume on the futures are so low that its impossible that they can controll the charts. So i think theres really some whales behind who controll this, but i think they do it in another way which is unknown for us. So the most important thing is, that we as a community stick together and dont let us fool by those people.

[NicG13]

I don't think bankers can control this phenomenon when most banks struggle to control their own business, and that under heavy regulation from the government...

[Naficopa]

I don't think bankers can control this phenomenon when most banks struggle to control their own business, and that under heavy regulation from the government...

Banks have their own interest in influencing bitcoin. They are pressing governments to introduce laws regulating the trading of bitcoin. Banks are profit oriented and cryptocurrencies take them away. Therefore, they will fight with bitcoin all the time.

[GregH37]

I don't think bankers can control this phenomenon when most banks struggle to control their own business, and that under heavy regulation from the government...

Progress of crypto is not in hand of bankers and I think crypto is the key which will end the banking system and that’s why bankers are worried about bitcoin and other emerging coins and many of them are spreading rumors about crypto to divert the attention of people from it but as now community is growing day by day and bankers worries are increasing because once the crypto will cover all region then banks will be gone.

[fasdorcas]

I don't think bankers can control this phenomenon when most banks struggle to control their own business, and that under heavy regulation from the government...

Banks have their own interest in influencing bitcoin. They are pressing governments to introduce laws regulating the trading of bitcoin. Banks are profit oriented and cryptocurrencies take them away. Therefore, they will fight with bitcoin all the time.

Banks and crypto currencies are like “enemies forever” now. Well, bitcoin poses a big threat to banking system. It is totally opposite to their interest rather opposes the purpose of banks. A far better way of saving money and more profitable also.

I think banks are gonna counter this problem by accepting bitcoin and all other crypto currencies. At present, they are not in hot waters because crypto currencies are still unknown to majority.

[removebeforeflight]

Banks are agents who makes money out of our money as we all know and this would come to an end if governments accept bitcoin. If bitcoin is accepted as legal tender for transactions there is no necessity for a bank to exist, in this scenario banks are forcing the government to ban if they have goo command in the government and if there is no command for banks with government, then they need to adapt crypto currency as their future currency. The second one I've mentioned would come in to place soon.

[ss890]

If they are killing it then we can not do anything about it because well we are just so small in front of them.  

The idea of decentralisation came and was accepted initially by everyone and we can clearly see that the banning stuff started when the prices of the bitcoin skyrocketed. This clearly indicates that how they reacted on the bitcoins hike when their balance started to disturb. So I believe in your imagination which is my imagination too. :-)

If they had no problem then why they did not dropped the idea of Bitcoin coming into market when it stated in 2009. Its really thinkable.

[futureofeth]

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.

Exactly, but it can't help them because already cryptocurrencies are ruling the world and already many companies are making the partnership with other vendors by paying them through the cryptocurrencies. Still, bankers are forcing the government to ban the cryptocurrencies.

[Lpim01]

Sometimes it goes like this and it's normal to happen. Though banks are getting worried for crypto but it is no a reason to blame them as a cause for this huge dip. Prices may always change and varies through the demand and supply in the market.
I think this huge dip had already happen before at early stage of crypto world, but only few have been a member on that time. So we don't need to worry so much for these, it won't last for long.

[kryptorian]

Exactly, but it can't help them because already cryptocurrencies are ruling the world and already many companies are making the partnership with other vendors by paying them through the cryptocurrencies. Still, bankers are forcing the government to ban the cryptocurrencies.

I would like that to be true but it is simply not so. Cryptocurrencies are ruling speculative markets and online gambling, attracting a lot of money from unexperienced people, common people, but in commerce cryptocurrencies are below detectable. Companies that you may think of as accepting bitcoins are actually accepting fiat because 1) they are not interested in crypto as such, and 2) not many people use bitcoins or other coins for payments. And it is still not quite clear whether Lightning Network and similar technologies enabling fast and cheap transactions are going to change anything in this regard. Bitcoin needs to stop being a speculative asset in the first place.

[BTCbengi]

I think that the reduction of all pennies has nothing to do with any bank, maybe it's a bull market or any bad news. No bank has enough financial power to manipulate the virtual currency market because it is so big. Besides, I still know a lot of banks accept Bitcoin trading as well as exchange them. This makes the bank more and more dynamic.

[selen]

i wouldnt be surprised if bankers soon lead the market. there is time for everything

[pugman]

It's the whales who dump their holdings tremendously every once in a year. Bankers are definitely not behind this, at least for this time. That market crash had nothing to do with bankers to be honest. However that crash was recovered within a day, so nothing worry,and take a chill, have a beer.
Bankers can try convincing the governments but if the people want things to go otherwise, the government would listen to the people than to banks.

[tambok]

I think that the reduction of all pennies has nothing to do with any bank, maybe it's a bull market or any bad news. No bank has enough financial power to manipulate the virtual currency market because it is so big. Besides, I still know a lot of banks accept Bitcoin trading as well as exchange them. This makes the bank more and more dynamic.

At some point they do have some effect but still they did not win because we have seen that the price of bitcoin nowadays was still high compare to the price last year, this means that whatever manipulation of the price would take place still nothing would happen as bitcoin is stable enough and has proven enough that it cannot crashed down as to what bankers wanted to do.