Matthew 7:12 - Whatever they do to you, you shall also do to them

[Snarks]

I like this thought that came to your mind and this is what also I believe in my life. If you want others do good to you then do good to others. But that's the basic thing that the banks will do and as well as the government since they are a business entity and they want to make enough money through it. That's how they make money and if there is something that is a threat to them they have to eliminate it but the fact that they can't do it with bitcoin is what they have to accept.

And can't we say as cryptocurrency investors and developers that Bitcoin is our business? We too have to protect our business. That's why we have to stand together instead of fighting each other. We have much bigger enemies.

[Snarks]

But i think not all banks are against Bitcoin that all of them want Bitcoin to be eliminated because here in my country our Central banks are very supportive to Bitcoin in which they allow our major banks to be in partnership with our local exchange that we can use their cash out facilities anytime and anywhere every time we cash out. With this hospitality that given by our banks to us i could say banks are not really united of their stand against Bitcoin existence.

If you say so, but I strongly doubt that. Bitcoin is an immediate threat to central banks as they are issuers of fiat money. Are they supportive of Bitcoin or of blockchain for their own benefit? There's a big difference between those two.

[Hamphser]

But i think not all banks are against Bitcoin that all of them want Bitcoin to be eliminated because here in my country our Central banks are very supportive to Bitcoin in which they allow our major banks to be in partnership with our local exchange that we can use their cash out facilities anytime and anywhere every time we cash out. With this hospitality that given by our banks to us i could say banks are not really united of their stand against Bitcoin existence.

As of today, majority of the banks doesn't want bitcoin yet as they thinks that investors here in crypto are just manipulating the price and it has sort of impact with our economy. But here in our country, there were some banks who are considering to have bitcoin as part of their daily transactions.

Bitcoin been part of daily transactions? I dont think so and i dont know which bank you are preferring to since there were no banks that do directly made a transactions which do involves bitcoin.It is possible but on indirect way.Its not really surprising for banking sector to oppose into crypto because they do know its capability and tendency of possible effects if citizens would make such transition.

[Snarks]

Crypto is just a pain in the ass for banks, unless they can somehow profit, like get an edge over other banks and steal their customers.

There are a ton of laws and rules for banks so of course they don't like to see a parallel economy that doesn't have those annoying laws and rules without them in it. Maybe they're just trying to slow us down so they can catch up, but it doesn't really make sense to copy the same laws and rules they prefer to escape, unless they do it to destroy crypto.

[Yzhel]

Crypto is just a pain in the ass for banks, unless they can somehow profit, like get an edge over other banks and steal their customers.

There are a ton of laws and rules for banks so of course they don't like to see a parallel economy that doesn't have those annoying laws and rules without them in it. Maybe they're just trying to slow us down so they can catch up, but it doesn't really make sense to copy the same laws and rules they prefer to escape, unless they do it to destroy crypto.

Well, there are things that we want to but we cannot control just like the mindset of our government and some other people, what matters is ourselves doing the right thing, so better to just do for the goodness of ourselves and for other people, don't let greediness live in our life.

[richardsNY]

Bitcoin been part of daily transactions? I dont think so and i dont know which bank you are preferring to since there were no banks that do directly made a transactions which do involves bitcoin.

He is probably just referring to banks making use of, or researching blockchain as technology -- people in most cases don't see the difference between Bitcoin and private blockchains. I don't even think any bank is legally allowed to incorporate crypto in their day to day operations. We all know how far away Japan is in terms of crypto progression, but their financial institutions are still not allowed to get involved in crypto directly, other than them just offering banking services to exchanges and whatnot. I think we may need a few more years to go by in order to see financial institutions actually make an attempt to expand their core operations. Governments definitely take their time with updating their regulatory framework, which (as user snark pointed out) might be done so on purpose after all -- the longer it takes for them to come up with regulations, the slower the growth will be, and the easier it will be to catch up. I strongly believe that China's sanctions against crypto are related to that principle as well, and for that reason believe they will be back.

[Baoo]

In general, I believe in " KARMA ", this means who does bad for someone or something ( like, Bitcoin) , returns to him more badly, so there is always divine justice to everything you do and  especially, if it is so bad. Furthermore, it is true that the governments  have tried many times to eliminate or destroy Bitcoin and other cryptocurrencies  through many attempts and different  ways. Luckily, it always fails to achieve these bad goals because the era of bitcoin is very secure.

As a matter of fact, I think the "KARMA" is coming to those governments, and they will have significant financial losses  in the future and particularly for the banks ( FIAT) and other field of economics  and it is certain that  Bitcoin will become more stronger .

[Edraket31]

In general, I believe in " KARMA ", this means who does bad for someone or something ( like, Bitcoin) , returns to him more badly, so there is always divine justice to everything you do and  especially, if it is so bad. Furthermore, it is true that the governments  have tried many times to eliminate or destroy Bitcoin and other cryptocurrencies  through many attempts and different  ways. Luckily, it always fails to achieve these bad goals because the era of bitcoin is very secure.

As a matter of fact, I think the "KARMA" is coming to those governments, and they will have significant financial losses  in the future and particularly for the banks ( FIAT) and other field of economics  and it is certain that  Bitcoin will become more stronger .

That is right, that is why I am so sad whenever I am seeing someone saying and crying that they were scammed by someone or their account was hacked, well, I believe in that too that whatever you've done to someone whether it is good or bad it will back to you more than you did, so just make positive always in people.

[peter0425]

I'm not a religious person, but this sounds good:

Therefore all things whatsoever ye would that men should do to you:
do ye even so to them: for this is the law and the prophets

I don't believe for a minute governments and banks are protecting the common man.

They've set out to destroy their competitor, Bitcoin, and they're doing so by regulating it out of existence and spreading FUD.

I wish we could return the favor.

Don't forget why we got into Bitcoin in the first place.

Remember the 2008 crash, the LIBOR fraud, the rigged forex and derivatives markets, the RBS GRG & HSBC scandals and the inflationary monetary policies to bail out the TOO BIG TO FAIL banks.

This is one of the reason why Satoshi, created bitcoin anyways.

Of course, they are really out not just to destroy but eliminate those that threaten their very existence, cryptocurrency. However, do they think that we can really destroyed those old aged traditional banking system?

I guess it boils down how they lost potential clients or banking clients who suddenly moves to crypto to store their wealth. They are losing billions here and the only way to stop the onslaught is to attack the enemies by creating regulations through FUDs.

But look at how they love blockchain technology. How ironic, the same technology that powers bitcoin and other crypto.

[bhadz]

I like this thought that came to your mind and this is what also I believe in my life. If you want others do good to you then do good to others. But that's the basic thing that the banks will do and as well as the government since they are a business entity and they want to make enough money through it. That's how they make money and if there is something that is a threat to them they have to eliminate it but the fact that they can't do it with bitcoin is what they have to accept.

And can't we say as cryptocurrency investors and developers that Bitcoin is our business? We too have to protect our business. That's why we have to stand together instead of fighting each other. We have much bigger enemies.

Yeah that's right, we have to protect our business/investments/digital assets. Bitcoin is now not just a coin that we can flip and throw in the wishing well. It's now part of our lives and every satoshi that is coming out from our wallets are very much important. This is why those banks can't really stand against bitcoin even they are planning to take down bitcoin, that's what I said that they have to accept the fact that they can't take down bitcoin easily.

[Virtual miner]

That is an interesting thought, but the playing field is uneven. In terms of FUD, the big banks have deep pockets and can afford to put out a narrative highlighting the dangers of cryptocurrencies. Supporters of crypto can put out a narrative on social media, but it hardly matches up to an organized campaign.
In terms of regulation, the difference is even more stark. Regulators and big banks are in bed together, and it doesn't take too much effort for the views of bankers to be reflected in the views of regulators. A few independent regulators may recognize the advantages of Bitcoin, but that hardly makes a difference.

" It hardly makes a difference!!" - This is the thought that stops us from even taking a step forward. I'm not saying that you're wrong, my point is that if we will not even try or take an initiative in this direction, then also the things won't change. Then isn't it better to at least try ourselves to our satisfaction instead of remaining complacent!!

The difficult task here is to build up a unity among ourselves, we, the members of the community, we need to awaken that feeling of Espirit de corps and come together!! Maybe we get a recognition somewhere or at some point of time. Maybe the small efforts that we make today prove to be beneficial tomorrow.

P.S.: But maybe, it's just another maybe!! 

[Snarks]

I'm not a religious person, but this sounds good:

Therefore all things whatsoever ye would that men should do to you:
do ye even so to them: for this is the law and the prophets

I don't believe for a minute governments and banks are protecting the common man.

They've set out to destroy their competitor, Bitcoin, and they're doing so by regulating it out of existence and spreading FUD.

I wish we could return the favor.

Don't forget why we got into Bitcoin in the first place.

Remember the 2008 crash, the LIBOR fraud, the rigged forex and derivatives markets, the RBS GRG & HSBC scandals and the inflationary monetary policies to bail out the TOO BIG TO FAIL banks.

This is one of the reason why Satoshi, created bitcoin anyways.

Of course, they are really out not just to destroy but eliminate those that threaten their very existence, cryptocurrency. However, do they think that we can really destroyed those old aged traditional banking system?

I guess it boils down how they lost potential clients or banking clients who suddenly moves to crypto to store their wealth. They are losing billions here and the only way to stop the onslaught is to attack the enemies by creating regulations through FUDs.

But look at how they love blockchain technology. How ironic, the same technology that powers bitcoin and other crypto.

I have to be honest. We are making a lot of the same mistakes that caused the 2008 crash. Creating opaque financial products, taking on too much risk, selling a lot of bullshit, raising hundreds of millions for just a text document. In short: greed.

We have to take a step back and remember what Satoshi's goal was when he created Bitcoin.

[Mahanton]

Bitcoin been part of daily transactions? I dont think so and i dont know which bank you are preferring to since there were no banks that do directly made a transactions which do involves bitcoin.

He is probably just referring to banks making use of, or researching blockchain as technology -- people in most cases don't see the difference between Bitcoin and private blockchains. I don't even think any bank is legally allowed to incorporate crypto in their day to day operations. We all know how far away Japan is in terms of crypto progression, but their financial institutions are still not allowed to get involved in crypto directly, other than them just offering banking services to exchanges and whatnot. I think we may need a few more years to go by in order to see financial institutions actually make an attempt to expand their core operations. Governments definitely take their time with updating their regulatory framework, which (as user snark pointed out) might be done so on purpose after all -- the longer it takes for them to come up with regulations, the slower the growth will be, and the easier it will be to catch up. I strongly believe that China's sanctions against crypto are related to that principle as well, and for that reason believe they will be back.

All things do have boundaries which means banking wont really joint into cryptocurrency since they do have their own field.Usage and benefits is different but when it comes to technology then it can really be applied into banking sector which is really a great innovation to be considered. Accepted or not but these kind of regulations and acceptance isnt really surprising anymore.Government do have different views towards this which its up to them if they would accept it or not but on my side they should not really restrict or make prohibitions at all.

[burner2014]

That is life, even in Politics, once the government approves your project or you are proposing your project to them you must bribe them or offer something, even in school you must treat always your professor or do something nice so that you can passed the subject, sad bu truth that is the reality nowadays.

[Bagaji]

Well, i don't believe many of us here in the Bitcoin and crypto currency community are having the same mentality as many are too selfish and self centre. In short there are FUD news carrier and they believe Bitcoin value should depreciate significantly in other for them to buy at the cheaper rate.

[Snarks]

Well, i don't believe many of us here in the Bitcoin and crypto currency community are having the same mentality as many are too selfish and self centre. In short there are FUD news carrier and they believe Bitcoin value should depreciate significantly in other for them to buy at the cheaper rate.

There's that too. It has become profitable to short Bitcoin and by extension it's profitable to FUD it.

I'm not sure the CME and CBOE Bitcoin futures are a big enough market to have an effect, but what about the futures on crypto exchanges like BitMex?

[Harlot]

From what  I am seeing I don't think that what you are saying is true my fellow member. I have yet to see a shred of evidence that banks and governments are teaming up in order to destroy Bitcoin or any cryptocurrency in that matter. Evidence such as a formal legislation banning Bitcoin which until now no country has come up on creating one. Even other governments such as Venezuelan government has created their own cryptocurrency as they have seen the potential of it. Also other countries like Japan and Korea have their own crypto markets being regulated by their governments, that can be simply seen as support being given by the government.

[arthur25]

Sounds great! Beautiful verse actually. Anyways bitcoin and government is not so called close for this two was not accepting each other even though the government recognize bitcoin but still it couldn't be the major of transactions. This things happening in other countries while in other hand some countries accepted bitcoin and practicing to make it as the future.

[Snarks]

"Cryptocurrency and Blockchain associations in Russia, China, and South Korea are planning to file a joint lawsuit in May against Google, Twitter, Facebook, and Yandex for not allowing crypto-related advertising."

https://cointelegraph.com/news/eurasian-association-of-blockchain-to-sue-social-media-giants-for-banning-crypto-ads

I was hoping for large scale FUD attacks on banks and traditional markets, but hey, it's a first step.

[Kambal2000]

"Cryptocurrency and Blockchain associations in Russia, China, and South Korea are planning to file a joint lawsuit in May against Google, Twitter, Facebook, and Yandex for not allowing crypto-related advertising."

https://cointelegraph.com/news/eurasian-association-of-blockchain-to-sue-social-media-giants-for-banning-crypto-ads

I was hoping for large scale FUD attacks on banks and traditional markets, but hey, it's a first step.

Wow! This is a great news for all of us and will be a great help in pumping of the price because those who sold their bitcoin due to this reason will eventually buy again and will take risk again, hope that this will make action as soon as possible so we will all have a happy holidays again before year ends.