It's funny how they think it is, so does gold, silver, and livestock too before? Everyone can make simple money on how they want to implement it to the people. Paper money is just being used because it is just too light to carry compared to the previous money that people used to. Banks exist just because of this paper money and if there is no paper money how could they do exist?
Exactly, so that's why they said that bitcoin is not a money! They afraid that bitcoin will gain a high potential in the future and the fiat money will be useless, but I know that there is a big community which support bitcoin and cryptocurrencies, sooner or later bitcoin will have a high value in the market and banks should adapt that.
Topic: ‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks - page 6. (Read 1063 times)
Paper money is just being used because it is just too light to carry compared to the previous money that people used to. Banks exist just because of this paper money and if there is no paper money how could they do exist?
It's not about physical paper money being light and easy to carry with you wherever you go. It's about the ability that banks have to create digital value out of nothing whenever a client for example asks for a loan. All it requires the bank to create whatever amount of money is to change a few metrics within their database.
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Meh, the article itself is lame and the site it's listed on too. I get it that you want people to click on your items, but this goes a bit too far.
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I'm not shock or surprise the banks make this statement because the banks don't like the real concept behind Bitcoin creation which why the Chinese government is not fully supporting Bitcoin because they believed bitcoin will make their banks services and national currency to become obsolete. But, it will be better if they could listen to IMF Boss advice.
The banks are definitely scared of Bitcoin because the last time i checked money is anything which is use as a medium of exchange in the sense that we all agree to accept it in making transactions and we both know that Bitcoin posed such attribute so it not been printed doesn't hinder it from been a money.
It's funny how they think it is, so does gold, silver, and livestock too before? Everyone can make simple money on how they want to implement it to the people. Paper money is just being used because it is just too light to carry compared to the previous money that people used to. Banks exist just because of this paper money and if there is no paper money how could they do exist?
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
Lets talk about the negative ones, im not surprised that they will say such thing and they have been saying these after all these year but it doesnt matter
because crypto would still remain no matter what.
Well, I don't care how they call it. Actually not everyone call it a currency some calls it an asset or a valuable asset.
Its normal to call bicoin an asset because it can be used as an asset use aside from a currency but calling it not a money seems inapropriate . for now bitcoin remains online because its new but we never know soon if someone will print bitcoin on a paper like money .
So much money has been made by these banks and they feel threatened with the opportunity bitcoin is offering.
Given that they already made alot of money then why they are still threatend about the existence of bitcoin ? Thats a greedy move they are showing right there but banks can only do nothing about these bitcoin and cryptos because they cant just shut it down based on their own liking .
‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
Actually, its an excellent argument in favor of Bitcoin. Of course you can't print it, that's the whole point... Inflation is no more.
Now we are challenging that school of economy that states inflation is needed, or fractional reserve banking, or debt, to grow an economy...
This is not the first time banks are attacking bitcoin saying things to take the minds of individuals from investing in bitcoin but then we know they do this out of fear of Bitcoin killing fiat. So much money has been made by these banks and they feel threatened with the opportunity bitcoin is offering. Well banks can keep saying things but then bitcoin will only grow stronger, whether bitcoin can be printed or not, its a means of payment we have long been waiting for and happy its finally here.
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the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols
It seems like that a lot of institutions are now comfortable with the idea of integrating blockchain tech into their operations, but they are still quite negative overall about BTC as a currency.
That said, though, this is an absurd accusation. If anything, bitcoin is more so money than fiat currency is, because it is able to serve as a long term store of value due to the fact that the currency supply is fully decentralised and cannot be manipulated, diluted, or debased by a central entity the way fiat has essentially been depreciating for as long as it has existed.
It serves all the functions of money, just like precious metals, but in a much better and efficient way. Though, when you get banks to comment on BTC at any time there is always some possibility of conflict of interest, as bitcoin does somewhat take away the control that they have.
Why are you giving importance to this comment? bitcoin is still very young and how everything new is facing the opposition of regulators because these regulators still do not feel comfortable in using something new. but with the passing of the years something new will conquer the regulators. we have to be very patient.
Silvergate Bank Onboarded 59 New Crypto Customers in Q4 2018
with time, everyone will accept cryptos
Silvergate Bank Onboarded 59 New Crypto Customers in Q4 2018
with time, everyone will accept cryptos
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‘Bitcoin Is Not OUR Money’ Because We Cannot Print It – Banks
Fixed!
Well, I don't care how they call it. Actually not everyone call it a currency some calls it an asset or a valuable asset. As long as I know what its value for me then to hell with their opinions. Bitcoin investors who've known its value for years are more than willing to just shrug their shoulder in this kind of remarks. They are just threaten with the future of bitcoin since bitcoin users/investors do not need these centralized banks by the way.
People have different terminology to represent bitcoin. Bitcoin from the beginning never mentioned as currency. Beginning days it was just a token with some value. Slowly this has changed acquiring different forms and finally got comparison to currency. Now it is much associated with mainstream adoption. Let's wait and see what happens with the market. 
Well, I don't care how they call it. Actually not everyone call it a currency some calls it an asset or a valuable asset. As long as I know what its value for me then to hell with their opinions. Bitcoin investors who've known its value for years are more than willing to just shrug their shoulder in this kind of remarks. They are just threaten with the future of bitcoin since bitcoin users/investors do not need these centralized banks by the way.
‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
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“Bitcoin is not money”, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
this article is clickbait trash. that headline is a straight up lie.
the central bank didn't say anything at all about the ability to print money. all they said was "bitcoin is not money" which is no surprise because that's the default position of virtually all legacy institutions and authorities.
joseph young (a pro-bitcoin nobody) is the one who added "because they cannot print it".
people really need to boycott these horrible clickbait sites. they have zero integrity and it's embarrassing as a bitcoiner to be associated with this sort of blatant dishonesty.
some of y'all really need to start reading full articles and absorbing them before commenting because you're making the problem worse.
During the early civilization rare metals and other commodities were used as a medium of exchange. This later turned to be metal coins, and the with the existence of banks the entire system got changed. Similarly the present era is all about the technology backed creation of coins. Now paperless economy is highly preferred and cryptocurrencies fulfills the same.
Bitcoin Paper Wallet : Am I a Joke To You?
Looks like they skipped economic class, they clearly forget gold, coins, etc. are money which accepted everywhere (or used to be) in whole world.
They used to bring reasonable argument, now they're not which means they realize the value of Bitcoin.
Gold is not considered as money for already a pretty long time.In modern world money are issued by bodies, that are able to provide any kind of monetary policy. In this case, BTC is not considered as money.
‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
Quote
“Bitcoin is not money”, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
banks understand money differently, very well regulated banks are actually more correct than libertarian private ones that just enrich themselves at expense of others,
Money is whatever people decides holds value. Doesn't matter what it is, seashells, gold, beanie babies, paper. Currency is just a faith based system. Fiat is a complete scam but most people are too stupid to realize or lack any real fight to go against the banks.
Alas, I do not agree with you, money is called the banknote of the Central Bank of your country and they only do what they print.
The rest of the securities are either gold or bitcoin are some assets that cost a certain amount which is expressed in money.
Bitcoin is a digital asset that can be attributed to digital money, but so far the problem is that payment with bitcoin is rarely applicable.
Bitcoin Paper Wallet : Am I a Joke To You?
Looks like they skipped economic class, they clearly forget gold, coins, etc. are money which accepted everywhere (or used to be) in whole world.
They used to bring reasonable argument, now they're not which means they realize the value of Bitcoin.
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