Topic: Banks Are Finally Openly Fighting Bitcoin In Australia And USA - page 2. (Read 2012 times)

i use to have fiat in bank accounts. and i got hit with overdraft fee's and what not. now i dont hold any funds in there
i get paid in bitcoin and i use that bitcoin to buy food at a shop where the manager wants and hoards bitcoin.

ive yet to get my landlord to hoard bitcoin so sometimes i do temporarily have to accept the fact that fiat does end up being the end result of paying rent..

but it is possible to work and live mostly on bitcoin, and its getting easier and easier each year

There is another saying too.
"If you can't win them, join them"

Let's see what the others banks will do.

Banks want to control transactions because they need to control power. Bitcoin decentralized nature is not good for banks. Eventually they will hate or love(adopt) bitcoin.

cointelegraph is a joke.  They shilled bigtime for scam coin "neucoin" and have no journalistic integrity.

We don't. Until we are robbed. Then we do.
Out of curiocity, how many times in your life were you denied a withdrawal by a bank due to excessive ammounts/KYC/AML? Because 0 for me, though won't lie, am less pure than the driven snow.

Sure, moving bitcoins is effortless, but spending those coins on non-trivial items (e.g. not internet gambling/overpriced DNM drugs) is not. That's why shit like BitPay (payment processors turning your BTC into fiat for the 'bitcoin accepting' merchants) & "bitcoin ATMs" & localbitcoin exists & reintroduces the same government regulations & snoopings, just at a different point.

This just shows you how much control banks have over people... You do not have to worry about "red flags" with Bitcoin. You transfer any amount to anybody anywhere in the

world, when you want. This is what "full" control means... not this fake freedom given to you by the current financial systems. We have been so used to these "rules" that we

think it's normal. Why do we need someone to tell us what we can do with our money?  

The only problem with your logic is by "keeping thousands of dollars stored on a bitcoin wallet in your own control and possession" you aren't storing "thousands of dollars." You're storing bitcoins. Which, if not self-evident, are not dollars.
There's nothing but your optimism to suggest that the bitcoins in your wallet will be worth as much as when you put them there. Or anything at all, if Bitcoin is banned, hacked, etc., etc.

Hopefully Bitcoin is not declared illegal, banks do have a lot of power. Remember music labels fighting and crushing Napster? We all know digital currencies will survive eventually but let's just hope Bitcoin is not the first martyr.

Legitimately giving a bank all your money is like giving an individual or entity all of your life savings or whatever fiat is deposited in a bank account. Under certain conditions, if a bank or central authority sees something that can take away the bargaining powering power of the deposited, why not restrict this factor and make restrictions. Moving power away from a central authorities into the hands of individual consumers is the bank's worst nightmare. Why keep thousands of dollars in banks without the 100% guarantee you can get it bank at any moment in time vs keeping thousands of dollars stored on a bitcoin wallet in your own control and possession?

To me the banks are always feeling threatened and therefore hey need to come up with something that will be able to rival the bitcoin. Banks have just been able to come to a realization that the bitcoins are doing well and will be a true threat in the near future. All this things that you are seeing around are just the issues set up to weaken the bitcoin. One thing I am sure of is that the far the bitcoin has gone, it will be very difficult for the banks to fight them and eventually win.

If you ever had a job, drove a car, bought groceries, walked down the street, you already did.
Not keeping your money (which, given your understanding of economics, can't be much) in a bank is neither here nor there.

I don't get it. "Fighting" bitcoin seems a tottally empty sentence to me.

The banks are being silly. The more restrictions they place on depositors, the more they won't bother to deposit. If they don't like cash, then the obvious thing to do is to buy Bitcoin with the cash, and stay away from the banks.

Taking your stuff without warning or trial? What a wonderful product these banks have! Where do I sign up?

The regulations are killing the banks, not bitcoin.

no matter what they are doing, until everyone can use a computer he can also use bitcoin, it's mean that bitcoin can not be stopped in such way, is that simple

at best they can hider its adoption in their country, which will not kill anyway, the current users base can only grow, since it's made only by geek right now...

i think, banks in USA and Australia got the fear that bitcoin will replace the fiat sooner or later. So they're fighting?

in the usa i thought that it was regulated there by IRS and everythign now they are fighting it...seems so random

and anyway until allt he government are against bitcoin, i would not worry much about, china alone can make bitcoin reach adoption, you don't even need usa or anything else

do you just sit there hitting search on the forum looking for the term anonymous all day long to try promoting your monero altcoin in your footer.
how about try to make a more accurate point about pseudonymity that's not trying to coax people into your crappy altcoin

you are wrong
thats like saying banks will stop accepting wire transfers from apple stores because apple are making products, to banks, bitcoin is a product. and people will want to swap fiat for products and products for fiat.

where ever there is a person selling a product there is a person buying a product. so when you buy bitcoin. you are handing fiat to someone else.. your not making fiat disapear, your just moving it into someone elses hand.

banks love that, they actually enjoy seeing coinbase holding millions of dollars, they love coinbase swapping with other people. once you see that bitcoin is a product you will see that it helps bankers actually have something to do.

what banks do not like is having to fill out paperwork to explain to regulators why they let through $10,000 without question. so although they love moving money, if they see that +$10,000 is being moved they know they have to do alot of paperwork, checks, double checks, writting letters to customer to explain things, yada yada yada..

so its easier to just freeze an account to give them time to do the checks and question the customer. rather then just letting it through and giving themselves not only a instant headache, but also backlash from regulators.

so if you are going to move +$10,000.. WARN YOUR BANK, explain where the funds are coming from, their purpose, so that they can then not have a surprising headache, and instead get the ball rolling to let yor funds through without headache or large delay

Bitcoin is not anonymous, but pseudo-anonymous only. If banks and governments understood this, maybe they would not be against bitcoin.