Banks admit they fear BTC

[BarbusseH]

The article on the zerohedge.com (The REAL Reason the Elites Want to Ban Cash) refers to the prohibition of cash, not the cryptocoin. This site has an alarmist worldview, I'm not sure that it should be taken into account when making investment decisions.

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[Sir Cross]

It is just one Central Bank of a country, it has not proven anything. After all what they have been showing in their youtube video is all true and nothing exaggerated has been shown. For me it doesn't look like a video which purposely attack Bitcoin. But to me it is a video which serves as a warning for their citizens on using cryptocurrency. Looking at how the guy didn't have fiat currency which resulted for his date to pay is an embarrassing thing to see, which could be a reality in Poland where only a few business establishments are accepting Bitcoin.

Traditional banking system has been worked on for decades,it is already established, and payments from any major cards (credit/debit) and cash are accepted almost everywhere. Use of cash does not also require an internet connection. Speaking of disadvantages, bank fees can be expensive, lack of transparency on how system runs, inflation slowly can gradually destroy value of held cash. Whereas in the bitcoin world,it is a decentralized digital currency, and in the fast-pacing world of technology it makes it more convenient and comfortable to access it in any part of the world you are and transparency is there wherever you want it at the same time it's cheap to send transactions with no extra charges.

Perhaps the disadvantages which you have mentioned is precisely why banks are admitted to fear bitcoin, because where they lack is alternately where bitcoin is better. It's but normal to think of bitcoin as a threat since there's the chance that Bitcoin could revolutionize the world for payment systems. People may prefer the use of bitcoin over banks someday, and this is what would kill banks in the future.

[magicmeyk]

I stopped putting money in my account lately because some banks here in the Philippines are closing your account if your engaging bitcoin in your account.

[crocozino]

I heard the news that goldman through its controlled company circle took control over poloniex
that is showing the direction where the bank will go
I think they understood they can't stop crypto, that is why they decided to take control of crypto from inside..

[carter34]

It was obvious that some propaganda was going on to scuffle the growth of cryptocurrency. The owners of banks especially would ensure they fight bitcoin which they see as a threat in there business. This is expected as change is really difficult to stand but soon, with more revelations. We shall see more progress .

[Spain2000]

Banks have many functions and if they admit that they fear Bitcoin they may be because of the bitcoin legality and they have paper money which is not volatile as like bitcoin so they are fearing now and bitcoin is good and soon this will be accepted by banks and the countries will be accepted this currency as this is the best coin for me now .

[Lenzie]

Bitcoin since from the very first start has been a threat not just from banks, government and economy of the country. Time will come that there will be a much minimal use of cash and banks since people are becoming more aware of trading and investing using bitcoin. Bitcoin is also a threat to the security of a certain country. Imagine bringing a lot of cash without showing it to a the security of the airport.
Bitcoin can be use by alot of terrorist in buying all there materials and medical kits. There is a lot of threats that this coin imposed as well as convenience.

[Elips1]

Obviously it's possible because bitcoin is a decentralized form of currency that could not control by any institutions or groups, then crypto could reduce manpower and paperworks. This is the reason why banks didn't ready to adopt crypto they are really fear of bitcoin.  Bitcoin is worthy for preventing corruption.

[blueteam09]

Bitcoins do not help us get out of poverty when we are the lips of sharks and have elephants every day. They are the ones who can control Bitcoin move the way they want. Terrorist groups use it as a way of calling the method the monetary funds help them develop. This is what every nation is afraid. If terrorist groups begin to act and succeed in their campaign, do you think your future life will be better than the present?

[BitHodler]

I stopped putting money in my account lately because some banks here in the Philippines are closing your account if your engaging bitcoin in your account.

That would be reason for me to directly ditch that bank and move to the next one. If your bank decides for you what you can spend your own money on, things are going wrong, horribly wrong.

I however wonder if this for you affects only purchase through credit, or also when you wire money that you actually have? In the first case I wouldn't really mind it because you can easily bypass that restriction.

If it's the latter, then do as I said and switch to another bank seeming more friendly towards crypto. If that doesn't work for you either, you can always fall back on local markets to buy and sell crypto.

[bololord]

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



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

I think they really should if they don't want a big improvement on our currency we are using right now. Not just they are afraid of bitcoin but the whole cryptoworld as it is very dominant right now and very popular and uptrend right now. I think blockchain technology is better thank the banking system we have right now as it has more advantage than traditional currency though its impossible to replace it.

[micleeiu398]

They cant beat BTC so they find a way in Ripple. But most people now understands the power of decentralization and hence the rise of BTC,

That would even be the worst mistake ever, considering the history of ripple. Decentralization is here to stay, sure there would be some monopoly here and there which we are already seeing in the market, but the idea of decentralization makes it worth it a lot and the fact that the banks are losing out on the centralization power makes it even more appealing.

They would end up begging us to give them job and save no matter how little when the time comes.

Fears of banks is pretty obvious they have always been scared and know the implication of that for me. Come to think of it, my bank has been giving me some good interest on my savings recently, which has not really been something I have seen much from the past, and also, I keep getting the message of doing international transactions and getting some benefits. It seems they are really beginning to see how the power is leaving their hands.

Big big thanks to Satoshi.

Bitcoin has now become a threat to banks and other sectors, despite its decentralization it also provides a lot of pros. It does not consume time as you don't need to visit banks to check balances and can access accounts readily and easily from anywhere and anytime by the use of internet.

By the way banks don’t have to get feared from bitcoins as everything is made for own purposes. Although bitcoins have some features like payment method that have much resemblance with banks but still no need to worry. I think when bitcoins will be national currency then banks need to modify their policies and features, as this would be the only safe way.

[Kevin77]

Bitcoin's Double Spend Problem allows Bitcoin to be sent directly from one person to another without using any third party like banks. This game changing Bitcoin makes banks fear that they could not exist. In this scenario banks are slowly, indirectly and purposely adopting themselves to crypto currency, example of that is Ripple.

Banks are trying to force the governments to ban Bitcoin in their jurisdiction because of the fear that they cannot steal money from people by way of charges and fees. But they can do that interim and Bitcoin will survive after all negative huddle.

Bitcoin is a transformation of paper currency to digital or crypto. Denying such a potential is equal to denying the reality of globalization.

Well said. Banks not only fear about Bitcoin, banks are trying to stop the growth and potential of Bitcoin by spreading negative news all over the world and creating a wrong opinion among people. Bitcoin will never ever slow down or stop because of the negative hype created by banks.

Well, they can keep trying. Is it not obvious already they cannot win this fight? Gone are those days when some banks would be busy uttering nonsense and then thinking a lot of people would fall for their trash. Let's face it, this is the digital age and evolution is here, they should better live with it and move on. They should really be scared and I am not surprised anyway. I would be, if I am part of the banking system.

A time will come when they will be begging for us who are smart enough to come save in the bank. It is a good thing knowing that the cryptocurrency space is developing a lot, and the fact that the system is being regulated gives the bank more to fear knowing that this has come to stay, which is why I have always said there is more advantage to regulation of the cryptocurrency space than the disadvantage.

[gambitcoin53]

Everyone fears for something they cannot control, same with govt and banks, since cryptocurrency is decentralized, they cannot simply control the online market, though this issue is running since the day bitcoin grabs the attention of taxpayers, this confirmation nailed it. Though it is obvious and already expected to happen. Govt and banks are also adopting, and really into distabling the market. But bitcoin is way ahead of them.

[LovelyFLOWER]

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 is possible since bitcoin is too broader than any thing so that banks can also admit that they are fear with bitcoin because bitcoin can be possibly occupy the banks because nowadays bitcoin is safer than banks and any transactions deals to investment. Bitcoin is more saffer and better because you can be able to used your money or such investments  in every where because bitcoin is for international.

[beej]

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.  

Maybe the fear and possible resentment they have with bitcoins is due to the fact that they have no solid
ground or equal foothold with bitcoins. The lack and absence of a leverage is also reason enough for banks
to implicate and discriminate bitcoins. Bitcoin is gaining so much propriety and recognition, I do think both
can coexist and find an arrangement of some sort or agreement perhaps to make things more reliable,
productive and efficient for the people. Bitcoins can learn from banks as banks can with bitcoins. Banks are
traditionally reliable but with the emergence of a new technology and innovation somehow affects them in
a certain way, that plenty of us haven't really fully unraveled.

[dragoz11]

as you said that the govs are trying to reduce or ban normal cash, isn`t bitcoin giving them this opportunity to ban the cash and use it as a general currency. This market is very speculative and really interesting things are going on.

[DaftAjax]

We already know that. It is very obvious that they are frightened to the cryptocurrency and what can it do, or what effect it will do. Talk about tax-free currency for the people, that is definitely a pain in the ass.

Well we cannot blame them, as we pay our taxes variety of services and concerns are being provided, to ensure our safety and wellness overall.

I wouldn't say that we have to rejoice about it, look at what happened to China, you might end up experiencing the same thing - depends on your country that is. And another point is that, though it is true that it can be salvation to others and more profit to some, still we need the government whether you like it or not. Might as well be aware about whatever the government's decision may be about the cryptocurrency, that would be final.

But then again, there are many ways that the government could potentially manipulate cryptocurrency inside your country that is (not entirely through the blockchain).

[ikipiye]

even in my country a lot of issues in the news through the national TV media, even the president of state banks participated preach that bitcoin is prohibited. but this has no effect on me, maybe this just plays a big role in price movements to manipulate bitcoin prices.

[joebrook]

even in my country a lot of issues in the news through the national TV media, even the president of state banks participated preach that bitcoin is prohibited. but this has no effect on me, maybe this just plays a big role in price movements to manipulate bitcoin prices.

The governor of the central bank in my country says that Bitcoin is illegal because there are no regulations for it but that isn't stopping the people in buying and accumulating for their financial gains in the near future.