Topic: Banks admit they fear BTC - page 20. (Read 2110 times)
Since classical Banking operation is be-twitted in Government hand where The Central Bank regulate and control its total operation under its obligation, no bank can function in isolation/independently outside the Government laid down policy. Bitcoin on the other hand is deregulated and it's becoming more and more accepted in some economy by those that are getting to understand it as an independent anonymous currency. Banks fears this and may find a way to cripple its effort which is very difficult to do in every attempts made by them.
Yeah if the blockchain technology is adopted in all parts of world, i am quite sure banks would disppear completely and the whole nation would become cashless. This might be reason banks also feel fear of, the more we adopt blockchain, the more shall be arousing fear for bank organisations
I think banks will not disappear because of blockchain technology. I know that technology will progress. just like the post office where they used to be the primary need to send letters but then electronic mail came. and make a post switch function into a place to send stuff? I think will same like the bank. Bank will not disappear but switch the function of the financial transaction will probably be a place to save money or the like?
This is not surprising to me.
Bitcoin is a high-margin investment, unlike a bank's fixed deposit interest, which allows users to pay and transfer money anywhere and anytime.
Banks don't like encryption, and for them, it's like a big competitor that needs to be eliminated.
Bitcoin is a high-margin investment, unlike a bank's fixed deposit interest, which allows users to pay and transfer money anywhere and anytime.
Banks don't like encryption, and for them, it's like a big competitor that needs to be eliminated.
This issue of governments posing threats on BTC and cryptocurrencies in general has been on the rise of late. As people become more enlightened on the significance of BTC and cryptocurrencies, the power is restored back to them due to the decentralization nature of Blockchain technology upon which BTC and other cryptocurrencies operates. The governments fear that with BTC and cryptocurrencies, every one can become equally rich without having to save huge tonnes of money in the bank. However, it becomes quite interesting to see these governmental bodies investing secretly into BTC and cryptocurrencies.
Banks have bonds with the government so I think they do not fear bitcoin since the government will find a way to make bitcoin fall. Once it was a success the banks will rule again.
I believe that the bank will not show fear on bitcoin because bitcoin has no taxes while bank is already been taxes from the start, business is always a business and crypto currency is always a crypto currency, both crypto currency and bank has a different way to be handle through limitation and I believe that government has a remedy on this in the near future, maybe we can see what would happen next. so then all we need to do is to wait for the government announcement or maybe statement about it. Why cryptocurrencies are feared by banks and government i that the issue of the privacy and anonymity. Because of the Creation of a crypto-wallet requires a little or no personal information about yourself. It is possible to a person to perform his/her financial without any needed personal information. Bank Government can block someone's account if they don't have a access to the persons information regarding transaction. Because of the technology of the blockchain we can do anything we want in crypto world.
Exactly banks have lots of requirements to do so,it needs 2 valid i.d and without that you are not qualified to register yet,while in blockchain its easy to register without any hazzle. Maybe someday, the conflict of banks and cryptocurrency will lead to a warfare. And I think that banks will make a way just to eliminate cryptocurrency from its existence and history.
It may also happen that the government and banks have a conspiracy in order to remove the cryptocurrency from their way.
Its true they will do conspiracy in order bitcoin will eliminate in this history.,and i think its a big big war to all especially the investors. It may also happen that the government and banks have a conspiracy in order to remove the cryptocurrency from their way.
Banks have bonds with the government so I think they do not fear bitcoin since the government will find a way to make bitcoin fall. Once it was a success the banks will rule again.
That is a normal feeling from them. There is no bank actually that can not feel fear to bitcoin. Bitcoin is good for investment, your money is easy to earn profit as long as you know how to ride the wave in it. While bank is like your money is sleeping for the long time and wake up for little strength gathered. Every hope that the bank offered to all investors is not as strength like bitcoin. So who doesn't want to choose bitcoin after experiencing the timidity of the bank.
Yeah if the blockchain technology is adopted in all parts of world, i am quite sure banks would disppear completely and the whole nation would become cashless. This might be reason banks also feel fear of, the more we adopt blockchain, the more shall be arousing fear for bank organisations
If only the government adapt blockchain they will see it very useful. but to fea is not only for the banks as well as the stock markets were in fear many organizations and companies were changing their idea in investing. they prefer now to start in crypto since they see how it can earn in just a short period so how much more if in long term.
Yeah if the blockchain technology is adopted in all parts of world, i am quite sure banks would disppear completely and the whole nation would become cashless. This might be reason banks also feel fear of, the more we adopt blockchain, the more shall be arousing fear for bank organisations
Well this is an interesting news, central bank supposed to be not afraid of crypto because both of them serve a different purpose and central bank got more power than crypto, but maybe because the bank can't stop the influence and the impact of the crypto that is why they afraid of it, and it is good to see crypto can save somebody from poverty
This is truly not an understatement. Many Bankers are getting to understand that BTC with the Block chain technology is the best option, where people can actually be in control of their fund without necessarily needing the middle men assistance. Fear engulfed them because if it is widely accepted, some of them would be wiped out of engagement and their operation mode forcing their customers paying outrageous interest on services rendered to them at their own advantage which is irrational shall be barely reduced.
Banks are number one affected when crypto currencies are introduce especially that online wallets have features more than a bank can offers, government on the other hand has problem with regards to imposing tax to bitcoin earnings as well as tracing transactions to know if it is illegal or not. These are the reason why both banks and government don't want to have bitcoin as a legal tender and try to regulate it but unfortunately they can't.
If you live in a Western country you know they are forcing the merchants to :
- have a POS device in their shop (and this already costs money just for installing it, plus a yearly fee AFAIK)
- only accept debit/credit card payments for amounts over a limit ( typically 1000 USD/EUR or even less )
- have a POS device in their shop (and this already costs money just for installing it, plus a yearly fee AFAIK)
- only accept debit/credit card payments for amounts over a limit ( typically 1000 USD/EUR or even less )
Plus, there are already countries inhibiting developers to launch their Crypto-Currency projects. Now if you want to be a developer and launch you ICO in Russia you need at least $1.700.000 and a government's license, just to start... They are just trying to turn Crypto-Currency into fiat's system. If you have a lot of money and a good relationship with the government you are fine, otherwise...
Step by step they try to make Crypto-Currency more similar to fiat.
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
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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
---
After I read your post as if you have opened my eyes. It turns out that the country we love so far uses the law and the bad rules to its citizens.
Indirectly they have given punishment to their people to be their slaves for as long as they want. How long does the government do this injustice continue?
Bitcoin is the best financial solution and has benefited us a lot especially for the poor. Meanwhile, our government treats bitcoin like counterfeit money, so for the existence of bitcoin alone our government is reluctant to admit it.
Is it a fake news or a fact and i think if this will happen there will be a rivalry between banks and crypto currency or maybe a war and this will affect the government.
Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.
That's a rather extreme view if you ask me. The realist in me says that the biggest reason is that they won't be able to make money off of us anymore, and that their influence over us will plummet. I guess I understand the overall libertarian sentiment though.
I was also curious about your links so I tried to dig around:
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http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it
This one seems to have been misinterpreted. Here is an explanation as to where the misunderstanding came from, and what the bill is truly about:
https://www.snopes.com/politics/business/cashillegal.asp
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This one I'd really rather not trust because it tells you to visit this link:
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http://phoenixcapitalmarketing.com/cash.html (looks shady, click at your own risk)
...and is basically a marketing article.
Still, bottom line is that banks are afraid, and they currently face a future in which they have to choose over adapting or dying.
Thanks for the insight.
Ok those links were not 100% appropriate, but you don't need to read the internet to see they are trying to eliminate cash.
If you live in a Western country you know they are forcing the merchants to :
- have a POS device in their shop (and this already costs money just for installing it, plus a yearly fee AFAIK)
- only accept debit/credit card payments for amounts over a limit ( typically 1000 USD/EUR or even less )
This will hinder the people who want to use cash in the shops. They must pay via a bank if the purchase is medium/big.
And i am talking about all merchants, even if you sell just coffees you must have a POS.
Their goal seems clear
Also, the 95% of the world's money today is not in cash, but in the banks
The founding father of bitcoin said "we should not be afraid of governments but governments should be afraid of us" this is what you see happening, bitcoin is going to take the place of bankers in our society in future. Bitcoin is going to take their jobs and you should not think that governments and bankers are going to be happy about it.
I don't think they needed to admit it ..
Because no matter how big the news it .. it generally disappears after a while if it's fake.!
Banks and the other government sectors were loosing potential investors and that caused them a lots of problem over the time ..
Their role wasn't as prominent as it was before and the government were loosing their dominance .
Take the case of China .. !
We can clearly see how government banned the Bitcoins just cuz more and more people were getting freed !
Because no matter how big the news it .. it generally disappears after a while if it's fake.!
Banks and the other government sectors were loosing potential investors and that caused them a lots of problem over the time ..
Their role wasn't as prominent as it was before and the government were loosing their dominance .
Take the case of China .. !
We can clearly see how government banned the Bitcoins just cuz more and more people were getting freed !
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