Banks admit they fear BTC - page 15.

Gameroid

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Quote from: genocide on March 04, 2018, 01:52:35 AM

Quote from: gua86402 on February 20, 2018, 05:47:02 AM

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

In current time i do not think that they afraid from bitcoin, because still there is no such bad effect of crypto currencies on banking system, but in future when the users of crypto currencies will increase then may be they start giving more preference to online currency and will ignore banking system and then it will surely harm banking system too much.

MIZANUR5033

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People are getting success from bitcoin but banks and governments are loosing some benefits by using this coin by the people.
There is no community between bank and bitcoin so that people can invest and cash out money from this coin without any taxes and fees. Now people are investing much money into bitcoin by rejecting lay down their money into bank so it is not good for any bank.

But there is no any aggressive step taken by any bank till now and there is many fake news is running beside us. Don’t take any decision by knowing any of them. Bitcoin will be at there at recent future that’s for sure so that you can run your dealing with it without any confusion.

munareal

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What do you expect from them when the know that crypo currencies will one day take over their business and crypto dealing is the future.The wise ones will try to study the blochkchain technology and integrate them to their business . Propaganda can not kill the truth

hajimasan

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Quote from: Lionel on February 19, 2018, 02:08:44 PM

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).

Go crypto and HODL my friends.
They fear crypto because it can save us

---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

This is truth that banks are feeling fear from the technology of cryptourrency Because here we are moving our money and making lots of earnings and opposite of this we are not flowing our money into bank that why they are thinking that if this will happen continuously forward then surely it will result into that people no more out Thier money in bank and will go only for cryptourrency .
So due to this reason they are forcing government authorities to take a legal action against cryptourrency and at another side banking sector are claiming that they will use bloclchain technology to make more secure Thier system soy hat people can move towards the banking system more than what Thier attention towards the cryptocurrency is .
Here we should not get into fear at any side because these are just Rumours and only a way to make people to get into Panic .

ivrynx

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There is no doubt that banks will fear cryptocurrency, since banks are also holding currencies for themselves, and it is a business for them. Once people learned how to use cryptocurrencies and take advantage of the security that their wallets can provide, there will be less and less people that will go to banks just to save or jvest their money on, since there is already an alternative way, in which it is much safer, costs less and much faster than the traditional banking system. Cryptocurrencies are no doubt much superior than banks, but still needs more improvement is some parts since people are just starting to like cryptocurrencies as a whole, not just bitcoin.

Alalex

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I think the banks are getting restless because they feel that there is a strong competition, so a lot of fake news and lies are starting to terrorize cripto money.

What a stupid government forbids the cripto money from being useful.

Whereas with the existence of this cripto money can help reduce poverty of the world that the average world population experiencing poverty more than 70% of all humans in this world.

Therefore we should be able to keep the good name of cripto money to be well judged in the presence of government and people around us.

My current will is that the government is paying attention to the fact that cripto money is useful to people and to all people.

BTCeminjas

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Quote from: genocide on March 04, 2018, 01:52:35 AM

Quote from: gua86402 on February 20, 2018, 05:47:02 AM

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

That's exactly right, that's why some countries did not embrace bitcoin at their place. There is the reason why it is because it may use for illegal activities but behind of that they want to regulate bitcoin or they want to eliminate their big competitor in terms of currency holding.
Yes, it may lessen their investors and creditors because bitcoin is very profitable to invest and the best thing is you are the one who holds your money without paying tax.

genocide

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Quote from: gua86402 on February 20, 2018, 05:47:02 AM

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

toygama

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Quote from: btc_angela on February 20, 2018, 05:52:33 AM

Quote from: gua86402 on February 20, 2018, 05:47:02 AM

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands.

So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future.

Of course that's the game of the business the banks seen already that bitcoin is possible rival in their business, cryptocurrency can provide their own wallet it means less clients for the bank. Digital currency can manipulate its transaction by not doing the normal bank procedure. Banking business still needed for fiat transactions that's their advantage.

Rubble898zaitO

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A very good read, thanks. It seems like banks will do whatever they can to discredit crypto currency, huh? I guess that's all part of the business. Crypto Currencies are getting a lot of attention from potential investors which in turn increases its profitability. Moreover, it hurts banks especially when investors cash out as it means they would have to release funds which, as I would put it, didn't come from any regulated form of investment.

Capt00

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We're getting more into competition everyday that brings us into trouble and misunderstanding. Actually, banks will sure get worried cause crypto is getting strong and continuously spreading worldwide. With that happenings, it may consider that a lot of people where getting into it and left banks. They just totally worried of how much they loss when people will leave them, because crypto won't need banks and banks may become not useful at that time.

joebrook

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Quote from: ikipiye on March 03, 2018, 04:34:41 PM

even in my country a lot of issues in the news through the national TV media, even the president of state banks participated preach that bitcoin is prohibited. but this has no effect on me, maybe this just plays a big role in price movements to manipulate bitcoin prices.

The governor of the central bank in my country says that Bitcoin is illegal because there are no regulations for it but that isn't stopping the people in buying and accumulating for their financial gains in the near future.

ikipiye

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even in my country a lot of issues in the news through the national TV media, even the president of state banks participated preach that bitcoin is prohibited. but this has no effect on me, maybe this just plays a big role in price movements to manipulate bitcoin prices.

DaftAjax

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We already know that. It is very obvious that they are frightened to the cryptocurrency and what can it do, or what effect it will do. Talk about tax-free currency for the people, that is definitely a pain in the ass.

Well we cannot blame them, as we pay our taxes variety of services and concerns are being provided, to ensure our safety and wellness overall.

I wouldn't say that we have to rejoice about it, look at what happened to China, you might end up experiencing the same thing - depends on your country that is. And another point is that, though it is true that it can be salvation to others and more profit to some, still we need the government whether you like it or not. Might as well be aware about whatever the government's decision may be about the cryptocurrency, that would be final.

But then again, there are many ways that the government could potentially manipulate cryptocurrency inside your country that is (not entirely through the blockchain).

dragoz11

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as you said that the govs are trying to reduce or ban normal cash, isn`t bitcoin giving them this opportunity to ban the cash and use it as a general currency. This market is very speculative and really interesting things are going on.

beej

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Quote from: jemarleon on February 20, 2018, 01:40:12 AM

Not all banks are happy with the Bitcoin surge. The Polish Central Bank (NFB) was just caught redhanded and admitted it paid a YouTuber to attack digital coins online. The bank also invested in Google and Facebook campaigns for the same purpose, according to NewsBTC .

HOLD ON AND WE WILL RISE AGAIN.

Maybe the fear and possible resentment they have with bitcoins is due to the fact that they have no solid
ground or equal foothold with bitcoins. The lack and absence of a leverage is also reason enough for banks
to implicate and discriminate bitcoins. Bitcoin is gaining so much propriety and recognition, I do think both
can coexist and find an arrangement of some sort or agreement perhaps to make things more reliable,
productive and efficient for the people. Bitcoins can learn from banks as banks can with bitcoins. Banks are
traditionally reliable but with the emergence of a new technology and innovation somehow affects them in
a certain way, that plenty of us haven't really fully unraveled.

LovelyFLOWER

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Quote from: Lionel on February 19, 2018, 02:08:44 PM

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).

Go crypto and HODL my friends.
They fear crypto because it can save us

---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

It is possible since bitcoin is too broader than any thing so that banks can also admit that they are fear with bitcoin because bitcoin can be possibly occupy the banks because nowadays bitcoin is safer than banks and any transactions deals to investment. Bitcoin is more saffer and better because you can be able to used your money or such investments in every where because bitcoin is for international.

gambitcoin53

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Everyone fears for something they cannot control, same with govt and banks, since cryptocurrency is decentralized, they cannot simply control the online market, though this issue is running since the day bitcoin grabs the attention of taxpayers, this confirmation nailed it. Though it is obvious and already expected to happen. Govt and banks are also adopting, and really into distabling the market. But bitcoin is way ahead of them.

Kevin77

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Quote from: mahilchii on February 26, 2018, 11:27:49 AM

Quote from: xuv500 on February 25, 2018, 03:38:03 AM

Bitcoin's Double Spend Problem allows Bitcoin to be sent directly from one person to another without using any third party like banks. This game changing Bitcoin makes banks fear that they could not exist. In this scenario banks are slowly, indirectly and purposely adopting themselves to crypto currency, example of that is Ripple.

Banks are trying to force the governments to ban Bitcoin in their jurisdiction because of the fear that they cannot steal money from people by way of charges and fees. But they can do that interim and Bitcoin will survive after all negative huddle.

Bitcoin is a transformation of paper currency to digital or crypto. Denying such a potential is equal to denying the reality of globalization.

Well said. Banks not only fear about Bitcoin, banks are trying to stop the growth and potential of Bitcoin by spreading negative news all over the world and creating a wrong opinion among people. Bitcoin will never ever slow down or stop because of the negative hype created by banks.

Well, they can keep trying. Is it not obvious already they cannot win this fight? Gone are those days when some banks would be busy uttering nonsense and then thinking a lot of people would fall for their trash. Let's face it, this is the digital age and evolution is here, they should better live with it and move on. They should really be scared and I am not surprised anyway. I would be, if I am part of the banking system.

A time will come when they will be begging for us who are smart enough to come save in the bank. It is a good thing knowing that the cryptocurrency space is developing a lot, and the fact that the system is being regulated gives the bank more to fear knowing that this has come to stay, which is why I have always said there is more advantage to regulation of the cryptocurrency space than the disadvantage.

micleeiu398

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Quote from: Bustart on March 01, 2018, 12:36:33 PM

Quote from: rickadone on March 01, 2018, 11:38:57 AM

Quote from: shellomomma on February 26, 2018, 12:16:31 PM

They cant beat BTC so they find a way in Ripple. But most people now understands the power of decentralization and hence the rise of BTC,

That would even be the worst mistake ever, considering the history of ripple. Decentralization is here to stay, sure there would be some monopoly here and there which we are already seeing in the market, but the idea of decentralization makes it worth it a lot and the fact that the banks are losing out on the centralization power makes it even more appealing.

They would end up begging us to give them job and save no matter how little when the time comes.

Fears of banks is pretty obvious they have always been scared and know the implication of that for me. Come to think of it, my bank has been giving me some good interest on my savings recently, which has not really been something I have seen much from the past, and also, I keep getting the message of doing international transactions and getting some benefits. It seems they are really beginning to see how the power is leaving their hands.

Big big thanks to Satoshi.

Bitcoin has now become a threat to banks and other sectors, despite its decentralization it also provides a lot of pros. It does not consume time as you don't need to visit banks to check balances and can access accounts readily and easily from anywhere and anytime by the use of internet.

By the way banks don’t have to get feared from bitcoins as everything is made for own purposes. Although bitcoins have some features like payment method that have much resemblance with banks but still no need to worry. I think when bitcoins will be national currency then banks need to modify their policies and features, as this would be the only safe way.

Topic: Banks admit they fear BTC - page 15. (Read 2110 times)