Fed Bank VP on bitcoin: Banks must adapt or die

[Bit_Happy]

China is the reason for 90% of the volatility in the bitcoin market.  They don't care about the technology, they just want to speculate and make a buck.

Bitcoin will rise back up to $750-850 and pitch a tent for the long term not long after 4/16.

Fortunately, venture capitalists and tech entrepreneurs are finally winning the battle against the fringe anarchists and libertarians for the soul of Bitcoin .

It's about the tech, not about the coin and its ability to go "off the grid"!

Does Bitcoin have a soul?
Are you sure?

[twiifm]

Want to know why so many of these Fed suits and banking class people like Ripple so much? It isn't really decentralized. Hence, it's easier to manipulate.

They like it cause the technolgy can be integrated into curent banking system.   It has real world use value.  

Yes...it can be "integrated" into the current banking system. Because it's such an awesome idea to continue pouring money into the corrupt banking system. Of course the banking class wants a digital currency they can control.

Ripple is a network.   The XRP is just a token like a plastic poker chip.   No need to control it

[Trance]

Thanks for posting this!

[freedombit]

Don't tell anyone, but I have always had a sneaking suspicion that the Fed invented Bitcoin, and Dorian's secret government projects were just that.

Not so crazy. It would be an excellent solution to the trade imbalance between the US and China. We avoid WWIII by keeping the peace with Bitcoin.

But I try not to say that out loud, for fear of having to buy stock in tinfoil.

It always cracks me up when people on this forum reference "tinfoil hats" when they broach subjects that are "out there." Need I remind you that for every participant on this forum, there are still 9,999 people NOT on this forum that thinks we all have tinfoil hats.  Someone needs to look forward if we are going to get anywhere safely.

This inconsistency is an elephant in a room.

Not surprising. Individuals are still individuals, even if they all still work for the same entity. Opinions can vary within.

[Beliathon]

China is the reason for 90% of the volatility in the bitcoin market.  They don't care about the technology, they just want to speculate and make a buck.

Bitcoin will rise back up to $750-850 and pitch a tent for the long term not long after 4/16.

Fortunately, venture capitalists and tech entrepreneurs are finally winning the battle against the fringe anarchists and libertarians for the soul of Bitcoin .

It's about the tech, not about the coin and its ability to go "off the grid"!

Does Bitcoin have a soul?
Are you sure?

lol +1, I stopped reading at the word "soul".

This is an internet forum, not a church. Reasoned observation and empiricism or GTFO.

[BitOnyx]

I don't get it. Is this another April fools joke or real things

[zolace]

I kinda would like to know how and when this will happen. Im kinda not wanting banks to have affiliation with bitcoin, since I dont like banks

[atp1916]

China is the reason for 90% of the volatility in the bitcoin market.  They don't care about the technology, they just want to speculate and make a buck.

Bitcoin will rise back up to $750-850 and pitch a tent for the long term not long after 4/16.

Fortunately, venture capitalists and tech entrepreneurs are finally winning the battle against the fringe anarchists and libertarians for the soul of Bitcoin .

It's about the tech, not about the coin and its ability to go "off the grid"!

Does Bitcoin have a soul?
Are you sure?

lol +1, I stopped reading at the word "soul".

This is an internet forum, not a church. Reasoned observation and empiricism or GTFO.

Good, then you read 85% of the post.

Glad to see i can still offend so easily. 

[Bitram]

Banks are supported by government. They wont die easily

[bryant.coleman]

Banks are supported by government. They wont die easily

What if the government disintegrates?

And again, private banks are the real problem, not the national banks.

[~Coinseeker~]

Banks are supported by government. They wont die easily

Banks will never die.  People will always want and need their services.  They may change form to adapt, but banks will always be with us.  Hell, Coinbase is a bank, all 3rd party wallet storages services are banks.  They just aren't fully featured.  People will always choose to trust someone else to hold their money.  That's how banks came into being.  That need from people, will never end.  So, it's not about killing banks, as banks are useful and provide great infrastructure.  It's more about changing the way banks do business.  With the advent of crypto, I think we're going to see that happen pretty soon.

[zolace]

With the national banks is kinda difficult to accept bitcoin that easily because there are controlled by governments.But i think that the private banks should be more open mind and embrace the new wave .

[vnvizow]

Why banks? Blockchain is like Bitcoin's central bank. And, isn't it more important for more services like, amazon, steam, etc. to start accepting Bitcoin? Or even countries?

[~Coinseeker~]

Why banks? Blockchain is like Bitcoin's central bank. And, isn't it more important for more services like, amazon, steam, etc. to start accepting Bitcoin? Or even countries?

Seems the Bitcoin community has largely abandoned this concept, and instead supports merchant adoption via central clearing models like BitPay and Coinbase.  Sorry, banks required.