Topic: Banks do not want bitcoin to become popular - page 5. (Read 987 times)
This bank is not a giant whale, and what he says is as baseless speculation as what ordinary people say.
Since when do we worry about what Banks predict for Bitcoin's future? The Banks are threatened by Bitcoin, because Bitcoin is eating away it's market dominance, when it comes to financial matters. People see that it is cheaper and faster to use Bitcoin and Banks do not like that, because they milk people with high transaction fees and they control people's wealth. (Blocking accounts / Blocking transactions and feeding financial information to governments)
We as a Bitcoin community ignore these statements, because we know why it is made.... and we rather focus on Bitcoin adoption and improving the technology.
We as a Bitcoin community ignore these statements, because we know why it is made.... and we rather focus on Bitcoin adoption and improving the technology.
Bitcoin is the biggest bank rival at the moment, if Bitcoin becomes more popular and widely used for long-term asset investments, of course banks will experience financial difficulties. Currently, the Bank's income is almost entirely from customer saving, if one day the customer prioritizes saving money in the form of Bitcoin, of course the Bank will experience financial difficulties and will have a bad impact on the bank's financial condition in the future.
Until now there are still many countries that do not want Bitcoin as legal transaction, this can have bad impact on bank consistency if Bitcoin has become legal currency.
Until now there are still many countries that do not want Bitcoin as legal transaction, this can have bad impact on bank consistency if Bitcoin has become legal currency.
This is very natural, banks and bitcoin are completely contradictory, one of them must eliminate the other, bitcoin was found to eliminate the corrupt banking system, so it is very natural for banks to hate bitcoin and wish for its demise.
The logic of history says that there is always a struggle between any old system and a new one. In every era when people move from an old era to a new one, there is a strong struggle between the new and the old, but natural development will eventually overcome and end the old era.
One day in the future we will witness this resounding victory for Bitcoin.
The logic of history says that there is always a struggle between any old system and a new one. In every era when people move from an old era to a new one, there is a strong struggle between the new and the old, but natural development will eventually overcome and end the old era.
One day in the future we will witness this resounding victory for Bitcoin.
Why do we still care about this? These things have been repeated since bitcoin was created till now. Banks are just doing their job, they are centralized, and bitcoin is decentralized, they cannot speak well for their competitors, and neither can we. In the same way, bitcoin investors are also attacking banks every day and predicting one day they will also collapse and bitcoin will rule the world. Let them do their job, and we should focus on ours, accumulating bitcoins as much as we can.
Quote from: noormcs5
I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$.
I don't think, the charter bank statement will come through in this bearish season because it will be difficult for people to experience $5,000 next year were the price of Bitcoin has already taken a step to increase to $17,242 few hours ago in the market. We know that Bank is under centralized which they will never speak good about Bitcoin which is under decentralized, because Satoshi Nakamoto created Bitcoin to break the gap of third party which some financial institutions are not really happy about it. Now that the price of Bitcoin and cryptocurrency has increased little, I think there is a hope for people to see $50,000 January next year 2023.
Banks will do what banks do. If I were a bank, I wouldn't want a new virtual money to dominate me and take the power that wield over the people out of my hands. Never. I have been here since ages. I will threatened and if I cannot stop the rise in popularity of the virtual money, I will just go ahead to create my own digital version of the fiat to draw attention to me. But here's the thing, I am more concerned about gas and food prices that are sky-rocketing daily. I am also concerned about my almost noe-existent savings which keeps dwindling with the cost of living. In the end, Banks, government and the powerful people have no other option than to coexist with bitcoin.
I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 
You're using inappropriate words here, the article only said it could drop to $5,000, not it will reach $5,000!They only say Bitcoin is possible to go down as $5,000 but they're not sure 100% Bitcoin will drop to $5,000! I think it's possible since the last crash Bitcoin drop to $3,000 and no one ever predict Bitcoin would drop at such price! also since the global recession will happen in the next year, I wouldn't surprised if it's come true. The important thing is be ready what anything be happen, keep buy the dip!
Bro 5000 $ is impossible if the Bitcoin somehow crass 10000$ it would be the start of a new bull run. It's crypto no one knows any think about it. But 5000$ is not possible.
It isn't impossible, but it is unlikely to happen because it seems too far from the current price. We know that Bitcoin never dropped instantly by a big percentage in a short time, it should drop gradually. The first period of bearish is almost over, the next year should be a better time for Bitcoin. It ideally increases to $17k+, not to drop to below $10k. We can predict BTC to increase deeper when we just begin the bearish season. But when it is in the middle of the bearish season, ideally the price to increase in the next few months. So, if Standard Chartered bank states that BTC to drop to $5k, it isn't because they know it from a certain analysis but it only FUDS to make people stay away from BTC investment.What banks?
OP said standard chartered bank. Check again the thread on the first page!@noormcs5, where is the link to the article?
I think you should enclose the link on the thread, it is needed to complete the picture.
In my nation banks are getting ready to use blockchain actually. There are few banks that are getting ready to make sure that they are using blockchain for their system so that they would stay relevant a lot longer, and they would move to something that would work a lot better. Not working out so far, but they are at least trying and I applaud them for that. Obviously its going to take years before you could move an entire banks system into a blockchain, but to be even capable of thinking so far ahead this early on shows that banks are not against bitcoin, they love blockchain and they want to be part of this world too. After all, they just care about money, and if they can make money from this, they would love to.
that fact has been present since the beginning of bitcoin right , and banks are the main competitors in the progress and development of bitcoin .
and if bitcoin reaches 5000 $ again it's not a reason people will leave bitcoin but instead it will be an opportunity to have more bitcoins for those who have more money and they are tired of banks and their rules
and if bitcoin reaches 5000 $ again it's not a reason people will leave bitcoin but instead it will be an opportunity to have more bitcoins for those who have more money and they are tired of banks and their rules
Statements like these are prevalent. Banks of course always disagree with bitcoin because they are rivaled by bitcoin. Negative information like this is kept up to bring bitcoin down and tell the public that bitcoin is not good.
I have encountered this kind of FUD many times but it won't have any effect as long as the big media don't keep discussing it. But if the big media continues to talk about it and add various kinds of FUD and other negative news, the bitcoin market will falter.
Those who do this kind of news manipulation want bitcoin holders to panic sell and buy it cheap, of course, some new investors will do that.
Note to OP: A source link will probably be needed for a thread like this so that we can read the full article too.
I have encountered this kind of FUD many times but it won't have any effect as long as the big media don't keep discussing it. But if the big media continues to talk about it and add various kinds of FUD and other negative news, the bitcoin market will falter.
Those who do this kind of news manipulation want bitcoin holders to panic sell and buy it cheap, of course, some new investors will do that.
Note to OP: A source link will probably be needed for a thread like this so that we can read the full article too.
This is nothing too new to discuss and everyone knows this, the bank is the agency representing the government so it is not strange that they take advantage of this bear season to spread FUDS for bitcoin. But this won't make them better than bitcoin, no need to FUDS for bitcoin to drop more because a lot of people are expecting bitcoin to drop to buy more.
What banks?
Once they hate, they will always hate. Or they are also acting like themselves as hate even though they are actually one of the holders.
Well, this will be going to be FUD again and I am sure that the market will crash again. We know that Bitcoin is very sensitive to negative FUD. And many haters will always spread the FUD to make Bitcoin drop again, to make many people lose and hate BItcoin.
But I am sure that many people here are aware of the FUD spread and we can image what we will do after this. For, they are too big and stong to accommodate.
Once they hate, they will always hate. Or they are also acting like themselves as hate even though they are actually one of the holders.
Well, this will be going to be FUD again and I am sure that the market will crash again. We know that Bitcoin is very sensitive to negative FUD. And many haters will always spread the FUD to make Bitcoin drop again, to make many people lose and hate BItcoin.
But I am sure that many people here are aware of the FUD spread and we can image what we will do after this. For, they are too big and stong to accommodate.
Standard Chartered bank's predictions of Bitcoin plugging down to $5,000 is still a fair prediction unlike other banks or financial institutions who constantly predict Bitcoin crashing to $0 and some even call Bitcoin a bubble that is about to burst.
To many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.
For banksters, government, centralized institution, traditional fiat asset companies then having these words and negativities arent really that shocking or new anymore.They wont really be pro-bitcoin in the first placeTo many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.
but rather they would really be going into the opposite side.Why? they do know that it could really be a huge opposition once the community would really be having that turning point.They do know that
it cant directly make huge effect but as gradual years do pass on and as recognition do really rise gradually then it would really be significant
which they do know that it could affect out overall on some angles.
Standard Chartered bank's predictions of Bitcoin plugging down to $5,000 is still a fair prediction unlike other banks or financial institutions who constantly predict Bitcoin crashing to $0 and some even call Bitcoin a bubble that is about to burst.
To many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.
To many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.
These people make such ridiculous statements every month. I could find you a number of them made in the bull market of 2021.
I even made a thread about the media market predictions being false most of the time.
Just google media coverage by CNBC during the 2017 bull market and then 2018 bear market.
In bull market all their experts were saying that the drop to 10k after the peak of 20k is just the beginning of something bigger and 25k was to come next.
In the bear market of 2018 they were saying that if Bitcoin fell to 3k it's only a matter of time before it goes back to 1k.
Now they're so used to betting on the lows that if we ever fall to 15k they will say that 10k is next and if we fall to 10k it will be 5k and at 5k they'll say 3k is next. They are so predictable. When we finally break above 30k again they'll say that we're on the way to a new high and when we reach a new high the CNBC will say that now it has to go to 100k and at 100k they'll predict 120k or something and they'll keep going until the next bear market.
I even made a thread about the media market predictions being false most of the time.
Just google media coverage by CNBC during the 2017 bull market and then 2018 bear market.
In bull market all their experts were saying that the drop to 10k after the peak of 20k is just the beginning of something bigger and 25k was to come next.
In the bear market of 2018 they were saying that if Bitcoin fell to 3k it's only a matter of time before it goes back to 1k.
Now they're so used to betting on the lows that if we ever fall to 15k they will say that 10k is next and if we fall to 10k it will be 5k and at 5k they'll say 3k is next. They are so predictable. When we finally break above 30k again they'll say that we're on the way to a new high and when we reach a new high the CNBC will say that now it has to go to 100k and at 100k they'll predict 120k or something and they'll keep going until the next bear market.
From the very beginning cryptocurrency is opposed by the banking network mentioning that bitcoin have eaten up the profit. Large number of people moved to bitcoin for the large scale transactions, which requires huge fee as well as complicated process for the same. Even by that time banks have invested into bitcoin confidentially.
Banks at some point realised the difficulty of competing with cryptocurrency. As a result some banks launched usage of bitcoin and some have begun to coexist with bitcoin. Now users get the access of using fiat and bitcoin based on their need.
Banks at some point realised the difficulty of competing with cryptocurrency. As a result some banks launched usage of bitcoin and some have begun to coexist with bitcoin. Now users get the access of using fiat and bitcoin based on their need.
I sont know how people would have expected anything different in the phase of acceptance and the fact that, banks bank on fiat currencies which is what the CB represents of which bitcoin is very much far from. How do you expect an organisation to preach good of anything that it isn't about.
We've had banks close accounts for just transacting cryptocurrency. The increasing popularity and patronage have got the banks wondering what future awaits them but, I don't see much to be frightful about. With the rate of inflation, it just might help with the printing of notes and that's some thing to be cool about.
I just pity for those that hope on organisation and self proclaimed experts to do there analysis for them, its shit. One rule to the game has always been DYOR. Not doing tha could mean doing it wrong.
We've had banks close accounts for just transacting cryptocurrency. The increasing popularity and patronage have got the banks wondering what future awaits them but, I don't see much to be frightful about. With the rate of inflation, it just might help with the printing of notes and that's some thing to be cool about.
I just pity for those that hope on organisation and self proclaimed experts to do there analysis for them, its shit. One rule to the game has always been DYOR. Not doing tha could mean doing it wrong.
Banks assumed that the existence of Bitcoin will hurt their business and lessen their income once people adopt it. I can't blame their claim as well as for sure it will affect their income but they should not have to spread negative about crypto and sell their black propaganda just for the seek of their benefits. And the more they are throwing negative about Bitcoin, the more people got interested in it. However, I don't think that it makes the banking system end which gives them some worries, fiat money will still exist for many years, and their business continue to operate.
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