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tadakaluri
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February 07, 2015, 12:40:34 PM |
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They may do, because they loss lot of money by way of taxes (on fiat transactions) - as BTC transactions are not taxable.
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Bitcoinexp
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February 07, 2015, 01:06:18 PM |
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I think the only way people can attack bitcoin is through the media/press. It's the only unguarded part of bitcoin because bitcoin is decentralized, which means there's no government shaking hands with the press to keep things straight and leave bitcoin out of bad press. Plus, it's so easy, too easy to bring a new-born currency to it's knees by frightening people with accusations of bitcoin's connection to black markets etc.
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Netnox
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February 07, 2015, 01:25:32 PM |
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lol bitcoins 3 billion market cap is pocket money to them, it will get more interesting if bitcoin reaches a couple hundred billion market cap.
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botany
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February 07, 2015, 02:07:47 PM |
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Do they? If you have access to infinite money, you just have to buy expensive and sell cheap. So you'll kill your hardest rival...
They really wouldn't bother.  |
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MarihuanaStocks (OP)
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February 07, 2015, 03:47:44 PM |
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there is very little money to be made in bitcoin relatively
To them it might too small of an amount to call profit. Since fiat are being printed indefinitely they can always buy all the bitcoins. Maybe what is more important is seeing bitcoin fails more than anything else This is a good point i think. They need to see it fail. Destroying it only won't do the job, since another currency could replace it! |
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MarihuanaStocks (OP)
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February 07, 2015, 07:30:27 PM |
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I think the only way people can attack bitcoin is through the media/press. It's the only unguarded part of bitcoin because bitcoin is decentralized, which means there's no government shaking hands with the press to keep things straight and leave bitcoin out of bad press. Plus, it's so easy, too easy to bring a new-born currency to it's knees by frightening people with accusations of bitcoin's connection to black markets etc.
The Blackmarket-arguement is so retro. Like someone couldn't purchase drugs with fiat. Do the people still believe in this horror-stories? |
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BootstrapCoinDev
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March 07, 2015, 02:40:57 PM |
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Back in the day when we had a true free market (just a generation or 2 ago) the entire banking industry was less than 2% of GDP. During this time banks did not control anything are were a true service industry. In the past 50 years the banking industry has exploded to over 30% of GDP.
Libertarians across the board want banks reigned in by eliminating the FED who's artificial backstopping is the sole reason the banking industry is out of control.
Libertarians understand money and how banks control just about everything better than most. That is the entire reason Bitcoin first took off with libertarians.
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fairglu
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March 07, 2015, 04:26:13 PM |
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Only as a scapegoat or coolness tool.
Financially speaking, Bitcoin is not even a blip on the lower digits compared to fiat masses and exchanges.
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najzenmajsen
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March 07, 2015, 04:32:15 PM |
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Not sure they care to be honest pal, they control to much in % wise, how much of the population even uses Bitcoin 1 - 3%
But yes if they did care they already control a massive stake but it's pennies to them hey 3 billion
way less than 1-3 % uses bitcoins , just to make you aware. more like 0.01 max |
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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March 07, 2015, 04:45:25 PM |
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Bitcoin is actually currently making banks more money, because there are many transactions happening, and the volume is insane, their fee is also.
Anyways when youre talking about bitcoins market cap, the ~3,8 billion market cap is just an estimate, realisticaly you wouldnt even get 20 % of that if u had enough coins to sell.
So the interest is yet too small to atract fear in some bankers, but with time it will become real, and the fight will then be without gloves, pure survival.
cheers
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dewdeded
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Monero Evangelist
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March 07, 2015, 05:34:12 PM |
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Nobody trusts in euros by now and they can't risk that the mainstream has an opportunity to get out of euros and maybe uses something like btc.
WTF are you talking about? EuroZone still is and will be the strongest and some of the wealthiest economy. And so will be the Euro. |
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picolo
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March 07, 2015, 06:07:55 PM |
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Do they? If you have access to infinite money, you just have to buy expensive and sell cheap. So you'll kill your hardest rival...
They really wouldn't bother. They don't think Bitcoin is a rival. |
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Possum577
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March 07, 2015, 06:08:58 PM |
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To be fair, banks don't have access to unlimited money. And I don't think the banks see Bitcoin as a threat (yet). Afterall, nearly everyone that wants bitcoin has to use fiat to get it, which is the banks "bread and butter". If banks did see bitcoin as a threat they would just offer their customers access to it, they'd work it into their business so they don't miss out on the process. They have more to lose by doing something sneaky.
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pitham1
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March 08, 2015, 06:33:09 AM |
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Anyways when youre talking about bitcoins market cap, the ~3,8 billion market cap is just an estimate, realisticaly you wouldnt even get 20 % of that if u had enough coins to sell.
That can be argued both ways. Realistically, if you had $3.8 Bn and try to buy bitcoins, you may not even get 10% of the coins. |
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