Is bitcoin a theat to economy and bankers as will

[Ruben1]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

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[Lancusters]

All governments are in the pay of the bankers. The economies of all countries are built for the rich. Running this process the bankers. Of course they don't want to lose control over financial flows. They will do everything to destroy bitcoin. Now a lot of the allegations that led to bitcoin being used to Finance terrorism. It is a fake. No proof of this. I do not believe that bitcoin will be legalized.

[HENKHENKHENK]

I don't think its a threat to bankers, as I am one myself. CC are a threat for the position of the Government as parties who print and give out money. Euro or USD isn't really backed anymore, the rely on trust. With no trust in USD/EUR the system will fall apart. Cryptocurrencies could form an alternative for those fiat currency in a far future as everyone can create a currency which isn't ruled by a single institution. Don't see it happening so fast but for it's the main reason why I hold cryptocurrencies.

[btc-facebook]

My government decide to ban bitcoin because it can damage my local currency flow and for money laundry attempt that my government really against with
But every government  have their own policy in order to protect people from bad things.
For who legalize bitcoin doesn't mean that they are not against bitcoin, but they see bitcoin in different side.

[Thanasis]

My government decide to ban bitcoin because it can damage my local currency flow and for money laundry attempt that my government really against with
But every government  have their own policy in order to protect people from bad things.
For who legalize bitcoin doesn't mean that they are not against bitcoin, but they see bitcoin in different side.

Yeah,some countries are seeing bitcoin from the different angle which can be beneficial for the citizens not the bakers or the big whales.Because decentralization will kill the banking system soon.So many bank compromises the government officials and standing against crypto currencies.But my countries really doesn't take any action against crypto users,so hopefully they won't take steps against bitcoins in future.

[Alone055]

Slow down the growth? A currency relating to no country, having no institutional back up, no basic users database, have reached $20k in 9 years, and we still say its growth is slow. The countries working against bitcoin are actually the reason why bitcoin is spreading more. The citizens of a country don't always do what their governments do, but almost a very large percentage of people do the opposite of what the regulators do. So if a country tries to do something against bitcoin, the people around will come towards bitcoin and that is for the good of the currency.

[stomachgrowls]

My government decide to ban bitcoin because it can damage my local currency flow and for money laundry attempt that my government really against with
But every government  have their own policy in order to protect people from bad things.
For who legalize bitcoin doesn't mean that they are not against bitcoin, but they see bitcoin in different side.

In short this thing do really signifies that each country do have different system of government. Decisions would be made on a particular thing specially on bitcoin would really be also different. Some may adopt or consider but most of them will surely ban or prohibit by the use of it because views and opinions would really vary depending on their countries situation or status when it comes to circulation of funds.

[Pusarbumi]

My government decide to ban bitcoin because it can damage my local currency flow and for money laundry attempt that my government really against with
But every government  have their own policy in order to protect people from bad things.
For who legalize bitcoin doesn't mean that they are not against bitcoin, but they see bitcoin in different side.

In short this thing do really signifies that each country do have different system of government. Decisions would be made on a particular thing specially on bitcoin would really be also different. Some may adopt or consider but most of them will surely ban or prohibit by the use of it because views and opinions would really vary depending on their countries situation or status when it comes to circulation of funds.

If a country that is still developing better apply the rules of liberating its citizens to entrepreneurship anywhere. and follow the example of a developed country in creating new examples of digital currency "BITCOIN" so that the economy of its citizens / country will increase. will become an independent country.

[Guapongbadoy]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

There is a big truth with this as we all know that the growth economy system of a nation is always due to the taxes demand. And because bitcoin is not under the government law and its circulation is through the enternet and aside from this, it offers a big profit to all who are investing it then it will totally affect the economy. And also the bank will surely experience a decreasing numbers of investors if this people know about bitcoin. Because in bitcoin money is not sleeping unlike the bank.

[marielbeckham]

It is not considered to be the immense threat otherway it would have been already shut down somehow.

[KuyaBreezy]

Bitcoin doesn't pose a threat to either the economy or the bankers. all it does is eliminate unnecessary intermediaries and regulations during transaction to make it faster and cheaper, to me that's an economy builder. its use however takes away the central governments ability to collect taxes,which may make it impossible for checks and balances,

The main threat for bankers on the other hand is the Blockchain technology which when modified to suit the banking sector will increase transaction speed, security and accuracy. Bankers incompetence may be replaced by this  technology and that's what they need to worry about. Not BTC

[Tigorss]

BitCoin seems to be designed as a weapon aimed at destroying central banks and money-issuing banks, with Libertarian political agenda in mind-to undermine the country's ability to collect taxes and monitor the financial transactions of its citizens.

[earl07]

BitCoin seems to be designed as a weapon aimed at destroying central banks and money-issuing banks, with Libertarian political agenda in mind-to undermine the country's ability to collect taxes and monitor the financial transactions of its citizens.

IMO,i think it is not typically the reason why bitcoin has made.Bitcoins purpose is not to destroy banks,maybe blockchain technology and etc. is the reason why the banks are being threatened and afraid of losing their revenues
Bitcoin is not a threat to the economy,infact it helps the economy into their financial matter.

[jvacattack]

I just spoke to a CFO of a company that provides governmental services, she does not believe in the future of cryptocurrencies. The primary reason I got out of her was because "it's not backed by anything." I'm assuming that her sentiments are shared with others in her field but that may be cynicism.

[richardsNY]

I just spoke to a CFO of a company that provides governmental services, she does not believe in the future of cryptocurrencies. The primary reason I got out of her was because "it's not backed by anything." I'm assuming that her sentiments are shared with others in her field but that may be cynicism.

It depends on how you look at it. Technically, one could say that 1 BTC is backed by the average cost in energy it takes to mint a coin, but that at the same time can be easily refuted. I personally don't feel the need to be so obsessed with something that needs to be backed by another thing in order to measure or represent a certain value. I like the free nature aspect that allows people to decide what the price of 1 BTC is, instead of depending on central authorities to force you to believe in something that is based on debt and futile believe, which is the case with the us dollar, and basically any other fiat currency. I am glad that with Bitcoin we don't have to swallow any of that if we don't want to -- we have an alternative option now, which we should all be happy with.

[richminded]

BitCoin seems to be designed as a weapon aimed at destroying central banks and money-issuing banks, with Libertarian political agenda in mind-to undermine the country's ability to collect taxes and monitor the financial transactions of its citizens.

This kind of technology will not aimed to destroy anything cause basically this created for a faster transaction and to transact without giving any information. Though some banks feel be threatened cause of the growing community of blockchain technology, I think it cannot destroy them in fact they can help banks to improved its services. Bitcoin can help improved one economy in terms of financial matter, and this can help its people to be more financially free.

[jossiel]

I just spoke to a CFO of a company that provides governmental services, she does not believe in the future of cryptocurrencies.

What are you expecting from the opinion of a Chief Financial Officer? She will ruin their business and will advise people who are their potential investors and customers to say, "hey bitcoin and crypto's are good it's the future of financing."

The primary reason I got out of her was because "it's not backed by anything." I'm assuming that her sentiments are shared with others in her field but that may be cynicism.

She works for a company that is backed by the government and is being regulated, wait for her opinion when bitcoin in your country starts to be regulated by your government.

I'm sure that she'll change his view about it.

[Kemarit]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

Well according to them, bitcoin was will have a negative effect on their economy, its so disruptive that they really consider it  a threat and therefore needed to be eliminated as early as they can. So there will be a lot of nations that likely put a hammer ban just like what Indonesia and Bangladesh did. But for me, it will not eliminate the banking system, we still need banks and not everyone will go crypto's. There will be some old and traditional people who would rather saved and hold their money like a physical bank as compare to digital money like bitcoin. So its going to be an arduous and continues war and no one will emerge victorious. IMHO. Another reason that I can see if say bitcoin and crypto will take away the potential profits from bank. Imagine they will be bypass because we all know that crypto doesn't have middleman like banks to do transactions. Everyone is his own bank.

[ecnalubma]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

In our country Bitcoin is not considered as legal tender or approved as payment system but we are allowed and free to exchange it into fiat. But i feel this kind of threatment is just temporary, because some banks don’t acknowledge it and those whose bank accounts connected with bitcoin transactions are subject to closure, thats why we choose bitcoin friendly banks to transact with to avoid that kind of situation.

[darkangel11]

They may see it as a threat but in reality it's not. I believe cryptocurrency won't completely eliminate fiat, it will exist alongside it. Some services like loans will not disappear even when cryptocurrency becomes widely accepted. As long as we're living in the world of traders we will need all kinds of currencies. The next step is a world with abundance of free services, where everyone gets a free place to live and doesn't have to pay for a warm room and a glass of water. Until then we'll be living the society of debt and slavery, but that's a talk for another thread