Banks admit they fear BTC

[Lionel]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us



---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

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[slyfox]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many ,too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money on a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us

It is not like we needed confirmation after all it is just common sense, this is also why taxi drivers hate uber, they hate the competition, in my country uber is cheaper and offers a better service and then the government tried to ban it to protect the taxi drivers but they realized it was useless and now they charge a small tax to every ride and even with that uber is still cheaper, this is the same except we have banks but the overall concept is the same.

[Tankdestroyer]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many ,too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money on a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us

That's a lot of good read articles thanks. Besides that, they also want to harness the blockchain tech for their use but they don't want a decentralized one. The real reason why banks and government(most of them) hate Bitcoin is not just because of the reason you stated OP, but because they cannot control our money that way and using it is bad for them because of blockchain's transparency that will make it harder for corrupt ones to steal on people's money.

[compimprove]

Thanks for your information.

[FrueGreads]

That really doesn't come as a surprise to me, and I just wonder why they actually admitted that. Not that I really care, because I take a critic approach on every try of news I read, either being positive or negative news. Everyone knows that cryto is a highly speculative market, and that news play a huge role on it's price movements, so its easy to try to perform price manipulation when you know you can reach to a huge number of people.

[Bonsaiav]

This is an old story, perhaps everyone knows it already if the bank / government has long attacked crypto but her efforts never work, because they know the bitcoin power isn't really on Bitcoin itself, but lies in its users.

Our beloved gov guys prefer us to put our money on a bank account, which is like we are lending them our money and hope we will see it again.

True, it seems they don't want to if the community moves alone, without their bank.

[KTZ]

Why cryptocurrencies are feared by banks and government i that the issue of the privacy and anonymity. Because of the Creation of a crypto-wallet requires a little or no personal information about yourself. It is possible to a person to perform his/her financial without any needed personal information. Bank Government can block someone's account if they don't have a access to the persons information regarding transaction. Because of the technology of the blockchain we can do anything we want in crypto world.

[O$IRIS]

Banks neglected Bitcoin & Blockchain innovation for a while; now they are starting to awake all of a sudden.

As the time shows, this won't change the history of their inevitable collapse.

[Wallflower28]

Maybe someday, the conflict of banks and cryptocurrency will lead to a warfare. And I think that banks will make a way just to eliminate cryptocurrency from its existence and history.
It may also happen that the government and banks have a conspiracy in order to remove the cryptocurrency from their way.

[Mometaskers]

Just came here from another thread talking about this scandal from Poland. One more reason for us to believe that they really are going after crypto. Or, are they planning to stockpile it for their own benefit?

Banks neglected Bitcoin & Blockchain innovation for a while; now they are starting to awake all of a sudden.

As the time shows, this won't change the history of their inevitable collapse.

It's not a done war. They might find a way to co-opt it. Never underestimate what fear and greed can do.

[jseverson]

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

That's a rather extreme view if you ask me. The realist in me says that the biggest reason is that they won't be able to make money off of us anymore, and that their influence over us will plummet. I guess I understand the overall libertarian sentiment though.

I was also curious about your links so I tried to dig around:

http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it

This one seems to have been misinterpreted. Here is an explanation as to where the misunderstanding came from, and what the bill is truly about:

https://www.snopes.com/politics/business/cashillegal.asp

https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash

This one I'd really rather not trust because it tells you to visit this link:

http://phoenixcapitalmarketing.com/cash.html (looks shady, click at your own risk)

...and is basically a marketing article.

Still, bottom line is that banks are afraid, and they currently face a future in which they have to choose over adapting or dying.

[jemarleon]

Not all banks are happy with the Bitcoin surge. The Polish Central Bank (NFB) was just caught redhanded and admitted it paid a YouTuber to attack digital coins online. The bank also invested in Google and Facebook campaigns for the same purpose, according to NewsBTC .

HOLD ON AND WE WILL RISE AGAIN. 

[BillCoin]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us



---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

It's obvious that banks fear bitcoin as it aims to destroy their business, it's understandable and pretty clear, but some people are getting confused when their bank doesn't let them open a bank account for bitcoin purposes, it's not because the bank fears from bitcoin, it's because he has to prevent money laundering and he can't really do that with bitcoin, as the exchanges are anonymous and he doesn't own any connection with them to verify that you are  not laundering money.

[vintages]

Well, I knew this long ago, We needed no expertise to say it twice before we fully know. The banks hates crypto, to them, it like a big competitor that needs eliminating. They feel that with crypto people don't need them anymore; if people are holding their money themselves through digital means which is easily accessible, of what use is the bank then? They are of no use, since almost all their features, loan, retirement saving etc. can be gotten through crypto.

[CherRic]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us



---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

All Bitcoin holders and users knew about this long before. Banks are important in every government. They regulate and control fiat currency, check the balance and distribution of the people. However, banks also are politicians and official's allies. Banks are afraid of Bitcoin because they will lost a lot of investors and believers in banking investment.

[metenjean]

Its normal advices actually, because they fear the volatility of bitcoin which can make people wealthy in instant and also lose all their saving in a single night. People affected by greed rather than logical minded in investing something and when people started to recognize the surging price of bitcoin, there will be lots of people investing in it and BOOM there goes the investment just like last month. 
If you're investing in the long term and having enough saving to continue your life, then its good and you dont have nothing to worry but what economist and government fear is that if majority people invest all their money in cryptocurrencies and because of price volatility that made it more like a bubble, when the price fall and you invest all your life saving in it then you totally a broke man by now. Now, what if majority people do that kind of investment? The economy will started to collapsed and leaving people dealing with debts and more.

[Slow death]

[...]

we have two things:

Anonymity and profits.

Anonymity

the banks ask for documents to all who want to open account and this facilitates to limit the movements of someone when that someone commits some crime and becomes a fugitive of the police, the court blocks the account of this criminal.

Now, in the case of bitcoin it will not be possible to do that, the person can be a great criminal and will have his funds well-saved to use whenever he wants and the police and the courts will not have to block the funds of that person.

Profits:

Banks take the money from new deposits to make loans to other people and if people have something like bitcoin you can create your wallet and store your bitcoin and at the same time your bitcoin increase in value it is more useful than saving in the bank.

The banks will not die and we'll always need them. unfortunately

[gua86402]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

[btc_angela]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands.

So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future.

[tabas]

Go crypto and HODL my friends.
They fear crypto because it can save us

It can save us and it can also loose their business.

BTC itself is central bank, BTC is money!

If you ever experienced creating your own blockchain.info wallet, there's a quote there "Be your own Bank!". So having a bitcoin wallet is already having our virtual bank account so banks will be useless if everyone starts to put their wealth to crypto's.