Banks admit they fear BTC - page 16.

bololord

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Quote from: Lionel on February 19, 2018, 01:08:44 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

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

I think they really should if they don't want a big improvement on our currency we are using right now. Not just they are afraid of bitcoin but the whole cryptoworld as it is very dominant right now and very popular and uptrend right now. I think blockchain technology is better thank the banking system we have right now as it has more advantage than traditional currency though its impossible to replace it.

BitHodler

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Quote from: magicmeyk on March 03, 2018, 01:36:36 AM

I stopped putting money in my account lately because some banks here in the Philippines are closing your account if your engaging bitcoin in your account.

That would be reason for me to directly ditch that bank and move to the next one. If your bank decides for you what you can spend your own money on, things are going wrong, horribly wrong.

I however wonder if this for you affects only purchase through credit, or also when you wire money that you actually have? In the first case I wouldn't really mind it because you can easily bypass that restriction.

If it's the latter, then do as I said and switch to another bank seeming more friendly towards crypto. If that doesn't work for you either, you can always fall back on local markets to buy and sell crypto.

blueteam09

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Bitcoins do not help us get out of poverty when we are the lips of sharks and have elephants every day. They are the ones who can control Bitcoin move the way they want. Terrorist groups use it as a way of calling the method the monetary funds help them develop. This is what every nation is afraid. If terrorist groups begin to act and succeed in their campaign, do you think your future life will be better than the present?

Elips1

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Obviously it's possible because bitcoin is a decentralized form of currency that could not control by any institutions or groups, then crypto could reduce manpower and paperworks. This is the reason why banks didn't ready to adopt crypto they are really fear of bitcoin. Bitcoin is worthy for preventing corruption.

Lenzie

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Bitcoin since from the very first start has been a threat not just from banks, government and economy of the country. Time will come that there will be a much minimal use of cash and banks since people are becoming more aware of trading and investing using bitcoin. Bitcoin is also a threat to the security of a certain country. Imagine bringing a lot of cash without showing it to a the security of the airport.
Bitcoin can be use by alot of terrorist in buying all there materials and medical kits. There is a lot of threats that this coin imposed as well as convenience.

Spain2000

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Banks have many functions and if they admit that they fear Bitcoin they may be because of the bitcoin legality and they have paper money which is not volatile as like bitcoin so they are fearing now and bitcoin is good and soon this will be accepted by banks and the countries will be accepted this currency as this is the best coin for me now .

carter34

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It was obvious that some propaganda was going on to scuffle the growth of cryptocurrency. The owners of banks especially would ensure they fight bitcoin which they see as a threat in there business. This is expected as change is really difficult to stand but soon, with more revelations. We shall see more progress .

crocozino

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I heard the news that goldman through its controlled company circle took control over poloniex
that is showing the direction where the bank will go
I think they understood they can't stop crypto, that is why they decided to take control of crypto from inside..

magicmeyk

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I stopped putting money in my account lately because some banks here in the Philippines are closing your account if your engaging bitcoin in your account.

Sir Cross

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Quote from: marcuslong on February 27, 2018, 01:31:22 PM

Quote from: Harlot on February 27, 2018, 09:47:25 AM

It is just one Central Bank of a country, it has not proven anything. After all what they have been showing in their youtube video is all true and nothing exaggerated has been shown. For me it doesn't look like a video which purposely attack Bitcoin. But to me it is a video which serves as a warning for their citizens on using cryptocurrency. Looking at how the guy didn't have fiat currency which resulted for his date to pay is an embarrassing thing to see, which could be a reality in Poland where only a few business establishments are accepting Bitcoin.

Traditional banking system has been worked on for decades,it is already established, and payments from any major cards (credit/debit) and cash are accepted almost everywhere. Use of cash does not also require an internet connection. Speaking of disadvantages, bank fees can be expensive, lack of transparency on how system runs, inflation slowly can gradually destroy value of held cash. Whereas in the bitcoin world,it is a decentralized digital currency, and in the fast-pacing world of technology it makes it more convenient and comfortable to access it in any part of the world you are and transparency is there wherever you want it at the same time it's cheap to send transactions with no extra charges.

Perhaps the disadvantages which you have mentioned is precisely why banks are admitted to fear bitcoin, because where they lack is alternately where bitcoin is better. It's but normal to think of bitcoin as a threat since there's the chance that Bitcoin could revolutionize the world for payment systems. People may prefer the use of bitcoin over banks someday, and this is what would kill banks in the future.

BarbusseH

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The article on the zerohedge.com (The REAL Reason the Elites Want to Ban Cash) refers to the prohibition of cash, not the cryptocoin. This site has an alarmist worldview, I'm not sure that it should be taken into account when making investment decisions.

carlfebz2

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Quote from: Hell-raiser on March 01, 2018, 11:41:23 AM

Quote from: The Lone Predator on February 27, 2018, 10:01:15 AM

Of course they are scared! As someone stated, "Bitcoin will do to the banks what e-mail did to the post industry. It will disrupt the whole system and it is just a matter of time!!!"

Yeah, some banks won't make it to the finish line. But still, email may have affected the post industry to a degree, though the telephone did the same or even more than that long before it. Neither killed this industry. We still have to use the post services to receive orders from online shops or whatever. Cryptocurrencies will compete with the banking industry, but personally, I don't think they will kill it just like Visa and Mastercard didn't kill it either. Loans in crypto are not very popular and widespread given the present levels of volatility, and that's unlikely to change in the near future. Thus, banks will stick around for some time.

Not would just stick for sometime but they would retain on their places on forever and as long theres a government it wont be easily derailed and lots of people do still believe on these institutions when it comes on money security, traditional transactions that most people do know and the convenience that it gives.We all know adoption isn't still at full extent when it comes to bitcoin and if coming to a point on where all people is already aware on bitcoins existence then we cant say on what would totally happen.

Aikidoka

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Sinbad Mixer: Mix Your BTC Quickly

They do not only fear BTC, they also fear all the other cryptocurrency because once bitcoin is replaced by another crypto, it surely will be threat to the banks, followed by the economy, then the country. That is why many countries are banning the use of cyrptocurrency. I really respect these people who are against the corrupted governments. They always try to find a way to make a living on their own because their governments was not fair to them.

awawo

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Well this is an old story, but at that it is very obvious that the bank and the government will be against bitcoin and other cryptocurrencies because the bank and the government sees bitcoin at a threat to they existence because the role that bitcoin is playing in the life of the people is far more advance then the role the bank and government plays in our life. e.g bitcoin offer us full authority over our financial life.

Delivey

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If your adversaries are stronger than you, it is better to join their side. Banks are trying to take over cryptocurrency.

Hell-raiser

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Quote from: The Lone Predator on February 27, 2018, 10:01:15 AM

Of course they are scared! As someone stated, "Bitcoin will do to the banks what e-mail did to the post industry. It will disrupt the whole system and it is just a matter of time!!!"

Yeah, some banks won't make it to the finish line. But still, email may have affected the post industry to a degree, though the telephone did the same or even more than that long before it. Neither killed this industry. We still have to use the post services to receive orders from online shops or whatever. Cryptocurrencies will compete with the banking industry, but personally, I don't think they will kill it just like Visa and Mastercard didn't kill it either. Loans in crypto are not very popular and widespread given the present levels of volatility, and that's unlikely to change in the near future. Thus, banks will stick around for some time.

Bustart

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Quote from: rickadone on March 01, 2018, 10:38:57 AM

Quote from: shellomomma on February 26, 2018, 11:16:31 AM

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.

pelipurlara

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Quote from: zarados on February 27, 2018, 08:28:10 AM

they should be afraid of the threat of cryptocurrency that could make the bank less desirable. but instead of taking shelter under such fears, some of the world's banks decided to adopt cryptocurrency into the banking system so that they did not miss the digital transaction technology created by cryptocurrency. Similar things happen to online public transport that is currently marked. The public transport riders inevitably have to collaborate with the online system if they want to keep bringing in passengers.

A Government Bank may block someone's account if they do not have access to person information about the transaction. Because the blockchain technology we can do anything we want in the world of crypto.that makes crypto feared by the bank and my government that the problem of privacy and anonymity. Because the creation of a crypto wallet requires little or no personal information about yourself.

rickadone

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Quote from: shellomomma on February 26, 2018, 11:16:31 AM

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.

AimHigh

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Yes you are right and sometimes banks are the one who didn't accept or against on bitcoin so if the owners of many banks was against on it i think this is one of the reason why rhe government banned or not approve bitcoin because pf the influence of money because banks know that the bitcoin was a big threat to there business and i think if bitcoin will be our currency many banks will be down.

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