Please delete this thread

[ljudotina]

It's not question "will banks get into BTC train" it's only question, when will legal framework be set for them to be able to get into it. It's same for any large US based company like PayPal, Ebay etc. All they really need is legal background and they will just in as fast as they can.

[Harley997]

PS: MY FATHER LOATHES CREDIT UNIONS, they are a much larger threat to big community banks like the one he is currently the CEO of, certainly moreso than bitcoin (at this point in the game).

The problem with credit unions is that they have unfair advantages compared to a traditional bank, which obviously is not good for the banking industry. For instance, they don't have to pay income taxes and all sorts of other insane crazy perks that they should not be allowed to have.

So your father LOATHES credit unions. They are non-profit banks, get bunch of perks, and this is bad for all the greedy banks, such as the one your father owns. The same banking industry that indirectly steals from the citizens, is this right? Your father hates them because it chips away from his potential profits.

Credit Unions usually take on extra risk that is generally not apparent until it is too late.

[CEG5952]

In reference to the OP, I would not be entirely surprised if the OPs father worked for Chase, or another Bitcoin "hostile" bank as even banks that are not friendly to bitcoin have a legit need to understand bitcoin and the bitcoin economy.

Thank God there is one person on this forum with half a brain...

I guess the rest of us don't have a brain, just because we didn't nod along with OP's storytelling.

Right? I mean, it's plausible and everything, but there's really no reason for us to eat it up with a spoon. And there's plenty of bagholders around trying to do anything they can to pump the price.

If it is plausible and you have nothing to refute the statement then why would you call BS?

There's a difference between being "plausible" and being "likely", and obviously that's further yet from being "true". And what I said was, "there's really no reason for us to eat it up with a spoon." I'm saying don't be gullible and keep an open mind. Many people would use unsubstantiated rumors to confirm their own biases. It happens every day.

[MrGreenHat]

At this point I would just prefer for this thread to die. I am not egotistical enough to believe that I could single-handedly pump the price of BTC (which I'm not sure why people think I would want that? After all, my Dad is a BANKER). I realize now I shouldn't have even made this thread to begin with, no one trusts anyone on the internet, and there's good reason for it, I suppose.

[RocketSingh]

2013 was the "technologists" boom
2014 is being the "merchants" boom
2015 could be the banking boom

Cant agree more to this...

[Harley997]

In reference to the OP, I would not be entirely surprised if the OPs father worked for Chase, or another Bitcoin "hostile" bank as even banks that are not friendly to bitcoin have a legit need to understand bitcoin and the bitcoin economy.

Thank God there is one person on this forum with half a brain...

I guess the rest of us don't have a brain, just because we didn't nod along with OP's storytelling.

Right? I mean, it's plausible and everything, but there's really no reason for us to eat it up with a spoon. And there's plenty of bagholders around trying to do anything they can to pump the price.

If it is plausible and you have nothing to refute the statement then why would you call BS?

There's a difference between being "plausible" and being "likely", and obviously that's further yet from being "true". And what I said was, "there's really no reason for us to eat it up with a spoon." I'm saying don't be gullible and keep an open mind. Many people would use unsubstantiated rumors to confirm their own biases. It happens every day.

But the OP really does not have anything/much to gain by people believing him, and you have nothing to gain by proving/saying he is full of BS.

[h0lybyte]

A lot of local banks are already bitcoin friendly! I just think people should stop using major banks and switch over to community banks

[MrGreenHat]

A lot of local banks are already bitcoin friendly! I just think people should stop using major banks and switch over to community banks

GOOD CALL!!!!!! :-) (I know I said I wanted the thread to die, but anytime I see someone say something positive about community banking I have to give them a thumbs up.)

[CEG5952]

In reference to the OP, I would not be entirely surprised if the OPs father worked for Chase, or another Bitcoin "hostile" bank as even banks that are not friendly to bitcoin have a legit need to understand bitcoin and the bitcoin economy.

Thank God there is one person on this forum with half a brain...

I guess the rest of us don't have a brain, just because we didn't nod along with OP's storytelling.

Right? I mean, it's plausible and everything, but there's really no reason for us to eat it up with a spoon. And there's plenty of bagholders around trying to do anything they can to pump the price.

If it is plausible and you have nothing to refute the statement then why would you call BS?

There's a difference between being "plausible" and being "likely", and obviously that's further yet from being "true". And what I said was, "there's really no reason for us to eat it up with a spoon." I'm saying don't be gullible and keep an open mind. Many people would use unsubstantiated rumors to confirm their own biases. It happens every day.

But the OP really does not have anything/much to gain by people believing him, and you have nothing to gain by proving/saying he is full of BS.

Yes he does. Have you ever been on finance forums? People try to pump and dump all the time. Yes, people are desperate enough to baselessly try to pump the price, and some people are gullible enough to let it cloud their judgment. Also, read what I said again, because you didn't seem to comprehend. I'm not here to "gain" anything....

[MrGreenHat]

Please stop arguing over whether or not I'm full of shit. I can provide proof to a single TRUSTWORTHY, vetted member of the community if they can convince me that they will not share the information that I give them that will prove I am telling the truth. Obviously, it shouldn't be anyone who has posted in this thread, yet, as there are clearly biased opinions all ready.

[Skele]

I tried to get him to invest a significant amount of money back when Bitcoin was around $100 last summer (June 2013)...by November 2013 of last year he realized he should have listened.

However it's not so late, these days are a good opportunity for investing, the time for a banking boom is near and so the prices...

[InwardContour]

In reference to the OP, I would not be entirely surprised if the OPs father worked for Chase, or another Bitcoin "hostile" bank as even banks that are not friendly to bitcoin have a legit need to understand bitcoin and the bitcoin economy.

Thank God there is one person on this forum with half a brain...

I guess the rest of us don't have a brain, just because we didn't nod along with OP's storytelling.

Right? I mean, it's plausible and everything, but there's really no reason for us to eat it up with a spoon. And there's plenty of bagholders around trying to do anything they can to pump the price.

If it is plausible and you have nothing to refute the statement then why would you call BS?

There's a difference between being "plausible" and being "likely", and obviously that's further yet from being "true". And what I said was, "there's really no reason for us to eat it up with a spoon." I'm saying don't be gullible and keep an open mind. Many people would use unsubstantiated rumors to confirm their own biases. It happens every day.

But the OP really does not have anything/much to gain by people believing him, and you have nothing to gain by proving/saying he is full of BS.

Yes he does. Have you ever been on finance forums? People try to pump and dump all the time. Yes, people are desperate enough to baselessly try to pump the price, and some people are gullible enough to let it cloud their judgment. Also, read what I said again, because you didn't seem to comprehend. I'm not here to "gain" anything....

Do you think that the OP really would have any kind of impact on a crypto currency that has a $8 billion market cap by posting on these forums?

[CEG5952]

Yes he does. Have you ever been on finance forums? People try to pump and dump all the time. Yes, people are desperate enough to baselessly try to pump the price, and some people are gullible enough to let it cloud their judgment. Also, read what I said again, because you didn't seem to comprehend. I'm not here to "gain" anything....

Do you think that the OP really would have any kind of impact on a crypto currency that has a $8 billion market cap by posting on these forums?

Do I think that OP would really have any kind of impact (on the general exchange rate)? No. Do people still try this sort of thing? Yes. Do gullible people fall for it? Yes.

[scarsbergholden]

Yes he does. Have you ever been on finance forums? People try to pump and dump all the time. Yes, people are desperate enough to baselessly try to pump the price, and some people are gullible enough to let it cloud their judgment. Also, read what I said again, because you didn't seem to comprehend. I'm not here to "gain" anything....

Do you think that the OP really would have any kind of impact on a crypto currency that has a $8 billion market cap by posting on these forums?

Do I think that OP would really have any kind of impact (on the general exchange rate)? No. Do people still try this sort of thing? Yes. Do gullible people fall for it? Yes.

People are desperate -- they'd definitely stoop to that, haha. I remember seeing stuff like this on the Yahoo! Finance forums. Pretty blatant, but whatever. And yeah, people be falling for it.

[moriartybitcoin]

OP is dead wrong.

Banks like Bitcoin the same way that humans like dogshit ...

[jbreher]

But anyway, I have heard multiple times that banks are warming up to bitcoin, could someone explain this to me? or is that just bs and rumors? Why would banks be "bullish" about a technology/currency that would drastically reduce the need for their companies in the longterm? If bitcoin ever went mainstream and was widely adopted, wouldn't banks suffer huge losses and have to heavily downsize?

Well, if indeed bitcoin completely disrupts the entire financial industry, then the banking industry will need to downsize, yes.

So if you run a bank, and you come to a realization that such a fate is becoming more and more probable as time passes, you essentially have to choose between two alternatives.

The first is to continue doing business as usual, and resist bitcoin to the best of your ability. If you take this course, however, and bitcoin does indeed become a huge success, then you go out of business.

The second alternative is to try to find ways to use bitcoin in your own day-to-day operations, products, and services. If you are more successful than your peers in making such adaptations, you might become the dominant bank within the radically downsized banking sector. Indeed, if you plan and execute smashingly well, your enlarged slice of the smaller pie might actually result in net growth for your company.

tl; dr: adapt or die.

[seriouscoin]

I don't really believe OP

But anyway, I have heard multiple times that banks are warming up to bitcoin, could someone explain this to me? or is that just bs and rumors? Why would banks be "bullish" about a technology/currency that would drastically reduce the need for their companies in the longterm? If bitcoin ever went mainstream and was widely adopted, wouldn't banks suffer huge losses and have to heavily downsize?

Maybe they could "implement" it by exchanging for fiat and securely storing it for people who don't want to store it themselves. But this would only speed up their demise, it would make bitcoin more credible and trustworthy, and take away more power from fiat over time(to the point where one of their services-exchanging for fiat, is useless). In addition if it went mainstream, there would be many more startup companies to compete with, who could likely be more innovative and offer cheaper services than a traditional bank is willing to. Banks could still deal in credit, investments, and other financial services though I suppose.

First many banks dismissed bitcoin as a fad, then they realized bitcoin may play a role here, and right now many are in the stages of "researching and looking for opportunities to potentially implement digital currency"etc. I have a feeling many banks are realizing the massive threat that digital currency posses to their companies in the longterm. Do you think digital currencies are going to start seeing a pushback from major banks and probably governments soon? I only say the governments too because of the lobbying and network of connections formed between them.

Also this is kind of unrelated, but if anyone can help me out with another question I would appreciate it. If bitcoin ever did go mainstream, is there any effective way for the government to tax it? I'd imagine this would be a concern and weapon used against bitcoin if there is a large pushback from banks and the govs

Do you want to have a grape or a slice of a melon?

[xinzark]

So you mean the bank in the us now are crashing the price by rumor in order to join the party ?

If the bank want join the party the bitcoin are not enought for them to do loan or watever in need .

[seriouscoin]

So you mean the bank in the us now are crashing the price by rumor in order to join the party ?

If the bank want join the party the bitcoin are not enought for them to do loan or watever in need .

explain genius, pls.... 

[montreal]

Do you want to have a grape or a slice of a melon?

depends on the weather.