Purchasing biggest crypto exchanges by banks - page 2.

eternalgloom

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Quote from: Lancusters on March 28, 2018, 06:37:07 AM

Do you know examples of banks buying cryptocurrency exchanges? This is not and never will be. Bankers will not destroy their business with their own hands. Wall Street has been present on the cryptocurrency market since the appearance of futures contracts. Maybe the collapse of prices is their game.

Well, Circle just bought Poloniex a while ago, Circle is backed by Goldman Sachs. That's just one example of banks (in)directly investing in cryptocurrency exchanges.
Source: http://uk.businessinsider.com/goldman-sachs-backed-tech-company-bought-crypto-exchange-for-reported-400-million-2018-2?r=US&IR=T

Then there's also the largest Japanese bank that's launching its own crypto exchange, so they're definitely interested in getting into cryptocurrency trading.
Source: https://news.bitcoin.com/japans-largest-bank-to-launch-cryptocurrency-exchange/

bartolo

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If banks were against cryptocurrencies and wanted to destroy them, they would not allow their users to use their bank accounts to buy/sell cryptos. Banks see an opportunity in cryptos, in fact, many banks are investing in exchanges or crypto companies.

Xester

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Quote from: Vyacheslav7755 on March 28, 2018, 06:29:43 AM

What do you think about the subject. I see two different variants how we go further due to this fact.

1. Banks want to destroy crypto and buying exchanges to make them scam at one time.
2. Banks know that Wall Street is ready to enter the market and supposed to get good profit in the nearest future.

What variant you vote for?

It will be number two. Banks are made to earn profit and thus it will evolve into a system wherein it can make huge profit. Banks are willing to let go of their traditional business as long as they will earn profit. As of now there are news of banks that are investing huge amounts of money into cryptocurrency, since they have already seen the potential income and viability of cryptocurrency.

HeRetiK

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Banks will do whatever profits them the most. If that means running an exchange and reaping trading fees, than that's it. Trying to destroy crypto is not as profitable as simple going with the flow.

Quote from: alani123 on March 28, 2018, 06:52:37 AM

I think this is a real danger to the crypto industry. Banks have the power to buy exchanges, and if they do the data of crypto users could end in the hands of people that are against the principles of bitcoin. Imagine a bank owning your exchange data, they'd easily hand it to whatever government without second thoughts.

Sorry to say, but that's already the case with any exchange following KYC/AML procedures. That's pretty much what this data is for. Unfortunately legit exchanges are pretty much forced to play ball and follow these orders, lest they get smitten by the powerful arm of the SEC.

cordlesslake

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Also according to me it can be a plan of investment banks. Troubling the market, lowering the price, buying and then reselling profitably when uncertainty has passed.

alani123

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I think this is a real danger to the crypto industry. Banks have the power to buy exchanges, and if they do the data of crypto users could end in the hands of people that are against the principles of bitcoin. Imagine a bank owning your exchange data, they'd easily hand it to whatever government without second thoughts.

Vyacheslav7755

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Quote from: frowsiter on March 28, 2018, 06:38:08 AM

Quote

1. Banks want to destroy crypto and buying exchanges to make them scam at one time.

Why would bank will do it anyway? I am mean come on banks are devil but they aren't so much caring about buying the exchanger first and then dumping it for the same. Fro where do you think bank gets there money? Its us, they use our money to run their institute and this means they wont do anything stupid like buying the crypto exchange and then selling it. So this is out of option.

Quote

2. Banks know that Wall Street is ready to enter the market and supposed to get good profit in the nearest future.

Banks already know what Wall Street is doing and they will never interfere with them. The reason is simple, people make loads of $$$ from the Wall Street and where do we put so much money? Obviously in the banks and thus this is how they run in the first place. They get money, they give away huge % of interest loan and thus earn big buck for the institute. This is variant is like traditional stuff which will keep on going.

Probably banks got this order from governments and have to sacrifice their money to be in safe water in future. The higher price of crypto in future the more expensive it will be further. In other hands they are expecting more money on its market and potentially expexting new dotcoms from crypto. Futures are not so popular still for big players I heard yet.

Vyacheslav7755

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Quote from: Lancusters on March 28, 2018, 06:37:07 AM

Do you know examples of banks buying cryptocurrency exchanges? This is not and never will be. Bankers will not destroy their business with their own hands. Wall Street has been present on the cryptocurrency market since the appearance of futures contracts. Maybe the collapse of prices is their game.

Bitfinex, Bittrex, now Binance. And some others exhanges as well.

frowsiter

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Quote

1. Banks want to destroy crypto and buying exchanges to make them scam at one time.

Why would bank will do it anyway? I am mean come on banks are devil but they aren't so much caring about buying the exchanger first and then dumping it for the same. Fro where do you think bank gets there money? Its us, they use our money to run their institute and this means they wont do anything stupid like buying the crypto exchange and then selling it. So this is out of option.

Quote

2. Banks know that Wall Street is ready to enter the market and supposed to get good profit in the nearest future.

Banks already know what Wall Street is doing and they will never interfere with them. The reason is simple, people make loads of $$$ from the Wall Street and where do we put so much money? Obviously in the banks and thus this is how they run in the first place. They get money, they give away huge % of interest loan and thus earn big buck for the institute. This is variant is like traditional stuff which will keep on going.

Lancusters

sr. member

Activity: 630

Merit: 263

Do you know examples of banks buying cryptocurrency exchanges? This is not and never will be. Bankers will not destroy their business with their own hands. Wall Street has been present on the cryptocurrency market since the appearance of futures contracts. Maybe the collapse of prices is their game.

Vyacheslav7755

jr. member

Activity: 252

Merit: 2

What do you think about the subject. I see two different variants how we go further due to this fact.

1. Banks want to destroy crypto and buying exchanges to make them scam at one time.
2. Banks know that Wall Street is ready to enter the market and supposed to get good profit in the nearest future.

What variant you vote for?

Topic: Purchasing biggest crypto exchanges by banks - page 2. (Read 281 times)