Banking Elite Meet in Washington To Discuss Bitcoin Threat

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Slow Illuminati is actually Illuminati pwned the bankers ^_^
Your move banking elite Tongue

But I guess they could just move a few billion dollars over lol...

Gleb Gamow

vip

Activity: 1428

Merit: 1145

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

They probably could do it for only a few million bucks. Simply create a pool that'll eventually satisfy the 51% plateau, then once reach, fuck with a few transactions to disrupt the system, whereupon people will leave in droves. Then, the next time something similar arises, point toward Bitcoin's failed attempt to do the same.

1echo

sr. member

Activity: 280

Merit: 250

scams hunter!

lets them push BTC to 1k$ again

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

This is where their own arrogance is going to be their undoing.

They wont admit there's a threat until its way too expensive for them to do anything about it.

This is what we've been relying on the whole time.

The slow, growing, viral spread while the pompous asses think themselves untouchable.

-B-

Ruthful

full member

Activity: 195

Merit: 100

Quote from: pitham1 on October 21, 2014, 08:55:46 PM

Quote from: Gianluca95 on October 21, 2014, 03:05:40 PM

Are this only rumor or real fact which is really happened? I doubt that banking Elite are interesting to bitcoin, they love so much traditional currency Grin

It is not a rumour!
They did not meet to discuss bitcoins specifically, but bitcoin was one of the topics discussed at the annual members meet of Institute of International Finance.

In other word the OP ,was posting nothing but sensationalized trash Roll Eyes

.He does have a track record of doing this. Wink

pitham1

legendary

Activity: 1232

Merit: 1000

Quote from: Gianluca95 on October 21, 2014, 03:05:40 PM

Are this only rumor or real fact which is really happened? I doubt that banking Elite are interesting to bitcoin, they love so much traditional currency Grin

It is not a rumour!
They did not meet to discuss bitcoins specifically, but bitcoin was one of the topics discussed at the annual members meet of Institute of International Finance.

Gianluca95

legendary

Activity: 1624

Merit: 1196

Reputation first.

Are this only rumor or real fact which is really happened? I doubt that banking Elite are interesting to bitcoin, they love so much traditional currency Grin

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

they can't.
exchange only accept real money ... and not action or bonds.
and limit ... append Grin

Billbags

sr. member

Activity: 280

Merit: 250

Brainwashed this way

@ Xiaoxiao

Satoshi weighs in on a discussion about some one trying to corner the bitcoin market.

https://bitcointalksearch.org/topic/m.2078

Monkeynutz

newbie

Activity: 30

Merit: 0

Would we be able to get the minutes or like results of these discussiosn/etc??
Are they made public or anything?? Lips sealed

Coin_Master

full member

Activity: 148

Merit: 100

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

LOL this is the funniest thing I have heard since the Banks went broke in 2008 and needed trillions of dollars in bailout money.
Wealthy? not likely, try broke. So broke they couldn't pay wages.

However, even if they were "wealthy" as you put it, they cannot "buy the entire network" for any amount of money.
The reason for this has to do with demand for "people created money" more than Bitcoin itself. People "demand" their own form of money now, created by them.
Today that looks like Bitcoin, tomorrow that could look different but one thing won't change, people have "had enough" of Banks and Governments being in charge of money creation. You can't stop this now, the cat is out of the bag, people know they can create their own forms of money.
You cannot "buy" that idea from them, they will always know.
Hope this clears up your understanding about what Bitcoin is, and what it represents.
Bitcoin is Freedom!

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: omegaflare on October 16, 2014, 03:41:24 AM

Not if banking elites declared martial law in the USA. Now that's a game changer and it will force the big brother to watch you at all times. One teeny weesy trace of bitcoin from your computer = death penalty.

Then the banking elites will force everyone to get their hand chipped with RDIF (aka Mark of the Beast) with central authority. Those who refuse to be chipped with RDIF will not be able to buy or sell. They can simply create their own version if bitcoin and force people to use it just like they did with fiat.

Complete nonsense. No one is going to force anyone to do that under any scenario. I will back my statement with a fight to the death. And pay you $1000 if it happens. Maybe you think the government is not yours because you are not participating. But I make the gov do what I want, not the other way round.

Q7

sr. member

Activity: 448

Merit: 250

Quote from: Unbelive on October 14, 2014, 07:44:28 AM

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

Of course they are. But they need to first decide how much hash will each banker pay. This negotiation might take months or even years.
But on tte other hand also Bill Gates got fascinated by Bitcoin, so he might have plans of his own that will cross with bankers plans.

If that does happen, I'm just trying to imagine how that will impact people like us holding onto bitcoin Grin

Since bill gates did put forward some positive comments, hopefully he will place some buy order. Or maybe send out some endorsement note would do. Or how about windows OS that comes preinstalled with bitcoin qt Grin

icem3lter

sr. member

Activity: 281

Merit: 250

Bankers just pay some reporters to spread fud, kind of lobbying now. 51% attack would need much bigger investment, not worth it now I guess

omegaflare

sr. member

Activity: 331

Merit: 250

Quote from: haploid23 on October 16, 2014, 03:13:22 AM

Quote from: RodeoX on October 15, 2014, 02:15:45 PM

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

No. Absolutely not. Every day someone posits this idea, but no one has ever show a way to do it. Of course a bank could just start buying the coins, but that would drive the price up. Buying the network is not possible because anyone can use the network and own bitcoin. I for example will not sell my last bitcoin to the bankers for less than 1 trillion dollars. And even if they did the impossible and bought all the bitcoins it would not help them. Since they would be the only bitcoin holder their bitcoins would be valueless. So after spending trillions of dollars, they have nothing at all to show for it. And we would just move on to bitcoin 2.0.

Banks do not threaten bitcoin, bitcoin threatens banks.

This would not be possible for another 100+ years until all 21million coins have been mined. Until then, there are 3600 new coins mined ever day so there is no way they will own all coins unless they have bought up EVERY coin in current existence, and have complete control of the hashing network.

Not if banking elites declared martial law in the USA. Now that's a game changer and it will force the big brother to watch you at all times. One teeny weesy trace of bitcoin from your computer = death penalty.

Then the banking elites will force everyone to get their hand chipped with RDIF (aka Mark of the Beast) with central authority. Those who refuse to be chipped with RDIF will not be able to buy or sell. They can simply create their own version if bitcoin and force people to use it just like they did with fiat.

haploid23

legendary

Activity: 812

Merit: 1002

Quote from: RodeoX on October 15, 2014, 02:15:45 PM

Quote from: Xiaoxiao on October 14, 2014, 07:35:32 AM

Quote from: ijphlrnxewho on October 14, 2014, 07:25:38 AM

Banking Elite Meet in Washington To Discuss Bitcoin Threat
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/

Couldn't the elite bankers simply buy the entire network and take over bitcoin? Aren't they so wealthy that they own the whole world?

No. Absolutely not. Every day someone posits this idea, but no one has ever show a way to do it. Of course a bank could just start buying the coins, but that would drive the price up. Buying the network is not possible because anyone can use the network and own bitcoin. I for example will not sell my last bitcoin to the bankers for less than 1 trillion dollars. And even if they did the impossible and bought all the bitcoins it would not help them. Since they would be the only bitcoin holder their bitcoins would be valueless. So after spending trillions of dollars, they have nothing at all to show for it. And we would just move on to bitcoin 2.0.

Banks do not threaten bitcoin, bitcoin threatens banks.

This would not be possible for another 100+ years until all 21million coins have been mined. Until then, there are 3600 new coins mined ever day so there is no way they will own all coins unless they have bought up EVERY coin in current existence, and have complete control of the hashing network.

btceuropen

member

Activity: 80

Merit: 10

lol.. they gave Bitcoin made a much of the publicity, but Bitcoin is not successful uprising yet

haploid23

legendary

Activity: 812

Merit: 1002

The ironic thing is that Chase is so against bitcoin, but yet tried to create their own version of bitcoin dozens of times, and every time has failed to get their patent. So only one thing is clear: they're no opposed to the technology, but rather just want the market share. Greedy as expected.

faceplantz

newbie

Activity: 27

Merit: 0