Topic: Negative full page Bitcoin ad in Swedish newspaper, paid by big Swedish bank(!) (Read 1975 times)

So we all know that bitcoin has the power to change the world (if everyone uses it). However, we are going up against a very powerful institution so powerful that I would call it the single most powerful institution on the planet - the banking institution.

uh no you couldn't....even if you took bitcoin down there a thousand more crypto's ready to go that will not be subject to that problem.

The crytpo model is out, it can't be turned off and is hydra.

Bitcoin tech makes banks function at least %50 irrelevant.

Why are people acting like this means the bank is terrified of Bitcoin?

It was also proven by the recent stress test one could effectively clog up the network for a single day for about $5,000 in transaction fees, these guys could destroy Bitcoin without blinking by clogging up the network for a month with the amount of fiat profits they make in a microsecond.

i only see the positives here.  this is one of those where no press is bad press.  let them advertise to the masses about the existence of such a system at their own cost.

Any sort of publicity will do good for Bitcoin. Even negative publicity can gain us followers. For every 9 people who decide against Bitcoin by reading this article, there will be at least 1, who is willing to give it a try. And at the current scenario, that will be more than welcome. We should actually thank the Swedish bank for putting up the advertisement.

Good points.  I suspect that much like the tax relocation of Business to favorable jurisdiction will occur, much like the apple ireland holand thing.

Some countries will most likely always have favorable laws to attract capital, and the companies will set up effective vehicles to transfer funds this way.

A competitive advantage will occur in those companies allowing them to offer better goods and services at a cheaper price thus the consumer will bring pressure to bare to retain those goods and services.

BTC allows this to happen on an unprecedented scale.

However this set up is more suited to PeerCoin for large amount transfers and lesser transactions.

I see countries and large money markets as well and companies using BTC/PPC tech to make trustless verifiable transfer of capital (ie market signals) and accrue massive gains as the parasitical but needful in the old system effect of Backs and States to back them being the ledger keeper.

In some ways much like holding all the gold in one location and swapping the labels on the bars to keep records, except we know how that worked out when you actually wanted the gold back.

BTC can perform both functions a large pool of swappable signal that you can verifiable prove and do not have to relinquish to participate in the potential for the swap. Eg merely holding and BTC makes you part of the game.

SEB prohibited me from using their bank account to do bitcoin business  

Due to low traceability, the easiest way for government to regulate bitcoin today is to treat it exactly like cash. All the limitations to cash applies to bitcoin, like daily/weekly withdraw limit from exchanges and maximum amount of bitcoin that you can buy/sell from exchanges each month

That will stop large amount of speculative bubbles and large scale money laundering. However, that will not stop business using bitcoin to do large transactions without touching fiat money. So I guess for business similar rules will also apply: No bitcoin payment is allowed above certain amount. Since businesses are much easier to regulate, they will follow the rules

And this will not stop people from using it as an investment vehicle, purchase a few coins monthly and spend them after many years. For exchanges and institutions, the capital flow cap might be lifted

bitcoin has been seeing more than plenty bad news coverage by the shitty media sites and channels. i guess most people here are used to it, but this kind of news always hits the average joe.

so sad to heard about negative rumors of bitcoin, they (bank) are so scared if bitcoin is addapted and fully as a curency,yup but media is one of a big of their power to released their propaganda, but i believe that people is not stupid

It's like when back in the day they said the internet was this evil thing for criminals. They are always going to be scared at things that treaten the status duo. At least these guys are getting paid to FUD contrary to the no-life posters in this forum that create a new account daily to create threads announcing the doom of Bitcoin.

There's coverage of this story on cryptocoinsnews:

https://www.cryptocoinsnews.com/swedens-3rd-largest-bank-pay-full-page-bitcoin-ad-swedish-daily/

I hope they (Banks) realize that people are not that stupid to buy this propaganda. Buy a column and hire someone to write bunch of untrue 'facts'
and expect that people will hate bitcoin and cryptocurrencies? Really? People are fed with bullshit governments and financial elites are telling them already.

Funny to see these kinda a articles, this guy is a guy from a bank (SEB), SEB is a major bank in Sweden. Reading the text it becomes clear that he have absoulutly no idea what he is talking about. He claims that bitcoin will die if there will not be regulations. He does not elaborate "how bitcoin will die", does he mean that banks will not adopt it? I know the answer, banks will just make there own digital currency (basically just another altcoin) I am sure they are already working on it now.

Regardless of what everyone is saying about Bitcoin, it will succeed, it just has some hurdles on its way but it will win over banks simply because it is much better.

Bitcoin cannot be stopped. It doesnt matter much they can try

"First they ignore you, then they laugh at you, then they fight you, then you win."
Mahatma Gandhi

It is really only the government which can (if anybody can) try and restrict the adoption of Bitcoin. The problem is financial institutions have huge lobby groups out there trying to influence the government. We don't have anything close.

Banks became nervous because decentralized Bitcoin appeared, to which they have no influence, and BTC is much faster, safer and easier to use. They are aware that they can not offer what BTC offers to its customers and that in the long run they will lose this battle if they do not do something now.
Banks alone can not stop the BTC but national governments and financial institutions can, with restrictive laws and financial regulations.
I hope that such scenario will not happen.
Every man should be free to choose the financial service that suits him the best but I am afraid that national governments will try to protect their banks and financial institutions, and even go against the interests of its citizens.

It was in a newspaper, mentioned right there in the title!

If the banks start feeling afraid, you know that Bitcoin's next breakthrough is right around the corner. We could have some new age bank accepting bitcoins and challenging the cozy club that banks currently maintain. No amount of negative advertising is going to prevent that. 

be 100% sure that they are afraid of BTC my friend, i have no dude that they already invest in secret, why would they lost this opportunity?

btw as i always sayd: all free advertisisng about BTC are welcome, and this is what they are doing by bring to us those news hehe

We can follow the basic principle that any article is just advertisement for bitcoins. Articles like these certainly don't demotivate people from quitting bitcoin.