Topic: Do You think banks are involved in bitcoin ? - page 2. (Read 2672 times)

And Hear Hear! to this... Every sentence of this comment is right on. I can hardly believe how hook line and sinker people are buying the mass media parrots about bitcoin being for criminal enterprise.... Ya for the ultra rich, the CIA, NSA, banking cartels, etc.

Fidor Bank anyone?

BitCON

uh huh 

I think we'd be delluded if we didn't think the banking cartel had appointed a bank to figure out how to manipulate our exchanges.

A lot of the BS, especially that we saw last spring in the run up to $266 and especially the crash down from it, was classic High Frequency Trading. I have no doubt that there are now multiple banks figuring out to play us.

No.  NO. NO!

Banks are not involved in bitcoin.  Banks don't like bitcoin.  They can't make money on transaction fees, They legally can't hold it. Why would anyone put bitcoin in a bank except to get interest?  There is not interest on deposits right now for regular money.  In fact, the low interest rates makes bitcoin more viable since you can't earn significant interest by depositing normal money in the bank right now so no one cares that they don't get interest on their bitcoin and leave it in bitcoin instead of exchanging it for local currency they could deposit and earn interest.  Several bitcoin start up companies have had banks refuse to do business with them because the banks see them as competitors even though they have piles of cash from venture capitalists. 

Banks will have no interest in bitcoin until they figure out how to make money from it.  Then they will start lobbying for laws to be changed so they can use it.  Until then they will either ignore it, or try to fight it.  Once the realize they can't really stop it if people want it, they may try to propagandize and shake people's faith in it.  But make no mistake, they don't want it to exist.  It exists outside their system, they can't make money on anything outside their system.  If many people start using it, they lose money. 

That's OK right now since the Fed is printing money and giving it to the banks at 0% interest and they can make money with free money.  It's easy when you get free money you can loan it out at even low interest rates and make a fortune.  Of course it's the taxpayers and people holding cash that get screwed at some point in that scenario.  But by the time the shit hits the fan, someone else will be in office to take all the blame, so who cares!  Democrats have been doing that to republicans for ages, why stop now!  when the adults finally show up to clean up the mess you can blame it all on them since it supposedly happened under their watch, never mind the seeds were already planted.  Happens constantly, the housing bubble was just the most recent example.  Carter passes laws that force banks to make home loans to people that can't possibly pay them back.  Clinton puts that program on steroids so the banks try to come up with a way to do what the law forces them to do without losing their shirts, they come up with packaging the loans up in the thousands and selling them to wall street.  Bush tried 11 times to roll back the programs but the Dems and the media all call him mean and say he want to hurt the poor and that he's a racist etc.  When in reality he was trying to protect those people from taking out loans they couldn't possibly afford.  Then when it all collapses, it's Bush's fault.  This is exactly why we need bitcoin!  We must get the monetary supply out of government hands!

Must go to bed now..  G'night and don't belive everything you hear in the main stream media!

Korxax

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Bitcon -- cash for the 21st century!

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More like concerned that they now have viable competition.

Aside from that, Bitcoin is far too small a market generally for big funds to get involved with, these guys need to get in and out of market with huge volumes of money that would drive Bitcoin to stratosphere and crash it into basement when they tried to exit, which means that big money can't make money trading Bitcoin.....With that said, I am sure many banks have a certain level of finance aimed at Bitcoin, with perhaps some sitting on large volumes 'just in case'.

I think the banks and government are wringing their hands with glee that there is now one more level of smoke and mirrors for laundering money.

I am always amazed how the masses think that the biggest criminals are the ones peddling the various vices on the street corner.

On the contrary, the biggest criminals out there wear suits and show up for work in banking sectors and government offices all around the world.

Skilled handlers and polished media presentation does wonders.

no yet. but when bitcoin gets more and more regulation, they will be a part of bitcoin.

Banks will not, and simple cannot, support anything that is unregulated.  I'm not disputing the fact that they may in the future be buyers, but that future is WAY far away.  Especially with all the new laws passed on banks since the 2008 debacle, banks cannot touch anything even close to Bitcoin.  If the Fed comes  out and says, yeah, ok, you can own and trade, we'll regulate and tax, then they can.  Until that time banks will stay away, simple because they have to legally.

On a different but similar note, remember a month or so ago JP Morgan filed a patent for its own crypto-type currency?  So if banks do get into it, I think it'll come from the inside.

Bitcoin is the savior of banks, sooner or later they will realize this and start to mass support it

The current system require an ever-expanding debt level which is simply not sustainable without another huge bubble (magnitudes higher than housing bubble). With bitcoin, that becomes possible (people taking out millions of loans to purchase bitcoin and get high return), at least for decades. And then more and more people will go retirement and the jobless rate will reduce dramatically, everyone will be happy

I don't think that banks are involved in Bitcoin. The reason why Bitcoin has been at risk of such a spectacular crash due to speculative investments and we all know that Bitcoin is now a multibillion dollar market.

Do You think banks are involved in the bitcoin and they will be doing price crushes ? To dislike the bitcoin from using it ? What do You think about that ?


Check it out 00:00 - 4:00   http://www.youtube.com/watch?v=Uf7gUx1O78s