I don't think there's any reason to get paranoid about banks trying to take down bitcoin just yet. Banks just like to play by their own rules and will shut down the accounts of anyone they don't like the look of or suspect may be doing something that they don't like. I don't think bitcoin is that big of a threat to them currently but it could be in the future.
Topic: The Silent War On Bitcoin Has Begun! (Read 2423 times)
I think this may have been true 1-2 years ago, but now days everyone is pretty much writing about Bitcoin and cryptocurrencies. It is not fringe anymore and it is a direct threat!
I don't think there's any reason to get paranoid about banks trying to take down bitcoin just yet. Banks just like to play by their own rules and will shut down the accounts of anyone they don't like the look of or suspect may be doing something that they don't like. I don't think bitcoin is that big of a threat to them currently but it could be in the future.
There is what some would term, a silent war starting against the USA and the States. Really, it is not a war against them. It is simply people picking up their basic rights that the States have been stealing from them on a regular basis. There is protection for Bitcoin coming, which is really protection for the rights of individual people.
Youtube search on "Karl Lentz common law." The movement is growing.
Youtube search on "Karl Lentz common law." The movement is growing.
Depends, the banks are bad news for just about anything these days. But if this account termination stuff intensifies things will get ugly.
But if this account termination stuff intensifies things will get ugly.Is this a Bad News for BTC Future?
I think banks may be doing this to prevent money laundering rather than just to cause war against bitcoin. Though I can certainly see why the banks would oppose bitcoin as it could threaten their bottom line.
Agree with this. There is most likely a degree of skittishness on the part of banks (who are paying attention in any event) that if bitcoin were to stabilize and succeed they would be a threat. In the UK, which gets the most focus in the original article, the FCA has not taken a definitive position on bitcoin, which means that exchanges need not abide by anti-money laundering regulation. The banks, however, most certainly do. Could supporting exchanges undermine the banks money laundering responsibilities?
Probably not, but why risk it. To me, this shows that the UK, among others, needs to get off the pot and clarify the regulatory stance on crypto.
Is this a Bad News for BTC Future?
Well it's not good news is it? This is one of the ways the powers that be can try throttle bitcoin use and adoption by banning accounts of making it illegal to transact with it.
Is this a Bad News for BTC Future?
The only problem is you need to have bank account if your employed, at least where I live, so hopefully Bitcoins get used more so the laws change and you will get chance to receive Bitcoins from employer if you dont have/dont want to have a bank account
Same here due to some legal reasons. For now I'll just have to take the long route by sending the money to exchangers to purchase bitcoin. Hope to see it become a reality someday.
I think the best way is for local communities to start accepting crypto for services and goods. At first start out small and then build from there. Fiat can be cut out completely, it is just no so easy at first.
The only problem is you need to have bank account if your employed, at least where I live, so hopefully Bitcoins get used more so the laws change and you will get chance to receive Bitcoins from employer if you dont have/dont want to have a bank account
The only problem is you need to have bank account if your employed, at least where I live, so hopefully Bitcoins get used more so the laws change and you will get chance to receive Bitcoins from employer if you dont have/dont want to have a bank account
Banks have been doing this since a long time. A lot of traders on Localbitcoins have the problem of this, and having their accounts banned.
Haha, good point, investing in home safes might not be a bad idea.
Safes are obsolete now that money can be stored as pure information, just make a good brain wallet offline with paper backup, stick the paper in a safety deposit box or similar.A fire safe is still great to keep your paper wallet backups in.
If anything to keep it from burning up in case your house catches fire.
And you can store other valuables in it as well, gold or silver or family trinkets or something of great personal value that could be otherwise destroyed in a fire.
I have been saying this since the price of btc crashed. Banks are the primary reason that BTC is so volatile. They have formed several cartels to drive the price of BTC down or at the very least to show that it is a highly volatile currency. Most people who are already mired in the Fiat scam and looking at alternatives like btc are scared shitless by the volatility and shy away from investing in bitcoin. So apparently propaganda was not enough to drive the price of btc down, which prompted the banking cartels to hire people and buy up huge amounts of BTC, so that they could crash the price at will. Don't tell me that banks would lose money by following this tactic, because they never had money in the first place... it was all numbers on a sheet and no substance behind those numbers.
Yep, this is the kind of shit that goes on behind the scenes. Think about all the shit that is happening that the general public doesn't know! God only know what kind of crap the politicians and billionaires are involved in.
check this out on bloomberg , hot off the press about HSBC bank labeled -
"Leaked HSBC List Shows Who Was Banking on Swiss Secrecy"
http://www.bloomberg.com/news/articles/2015-02-08/leaked-hsbc-list-shows-who-was-banking-on-swiss-secrecy
for anyone interested
kind of makes me think of Ross Ulbricht (alleged Slik road mastermind) probably facing jail time.. well what to these guys get at HSBC ? slap on the wrist ? maybe a fine ?
"Leaked HSBC List Shows Who Was Banking on Swiss Secrecy"
http://www.bloomberg.com/news/articles/2015-02-08/leaked-hsbc-list-shows-who-was-banking-on-swiss-secrecy
for anyone interested
kind of makes me think of Ross Ulbricht (alleged Slik road mastermind) probably facing jail time.. well what to these guys get at HSBC ? slap on the wrist ? maybe a fine ?
check this out on bloomberg , hot off the press about HSBC bank labeled -
"Leaked HSBC List Shows Who Was Banking on Swiss Secrecy"
http://www.bloomberg.com/news/articles/2015-02-08/leaked-hsbc-list-shows-who-was-banking-on-swiss-secrecy
for anyone interested
kind of makes me think of Ross Ulbricht (alleged Slik road mastermind) probably facing jail time.. well what to these guys get at HSBC ? slap on the wrist ? maybe a fine ?
"Leaked HSBC List Shows Who Was Banking on Swiss Secrecy"
http://www.bloomberg.com/news/articles/2015-02-08/leaked-hsbc-list-shows-who-was-banking-on-swiss-secrecy
for anyone interested
kind of makes me think of Ross Ulbricht (alleged Slik road mastermind) probably facing jail time.. well what to these guys get at HSBC ? slap on the wrist ? maybe a fine ?
Banks are hunting accounts that are conducting any biz related to Bitcoin.
http://www.btcfeed.net/news/silent-war-bitcoin-begun/
http://www.btcfeed.net/news/silent-war-bitcoin-begun/
P2P If you select a ref that has nothing to do with Bitcoin how would they find out?
If buying from an exchange why not go threw moneypolo etc
There is always away around the sly little bankers they been playing the games for decades at least something has rattled their cage!
Long live Bitcoin!
The only way to fight the banks is to stop using them, that is the whole reason Bitcoin came into existence if I am not mistaken?
People are well aware of their scam, but there is not much u can do about it since this financial system we have today is hard coded
into our systems, and it takes alot of time to get over that.
Banks are the worst enemy you can have when it comes to bringing up whole another system of payment, because in this case you are touching their profits, and
it wont go without a fight, and whats stoping them from terminating every bitcoin related account ? nothing..
For that to stop u would need to fight them on a political stage, and guess who controlls polititians... yup
Bitcoin is too small a problem for them right now, their fiat must survive and that is getting more and more difficult as more people are discovering their scam
People are well aware of their scam, but there is not much u can do about it since this financial system we have today is hard coded
into our systems, and it takes alot of time to get over that.
Banks are the worst enemy you can have when it comes to bringing up whole another system of payment, because in this case you are touching their profits, and
it wont go without a fight, and whats stoping them from terminating every bitcoin related account ? nothing..
For that to stop u would need to fight them on a political stage, and guess who controlls polititians... yup
Probably not the whole reason. More like part of the reason.
The other reason is that you can send anyone money, anywhere on the world, right?
My turn to say "if I'm not mistaken"
The only way to fight the banks is to stop using them, that is the whole reason Bitcoin came into existence if I am not mistaken?
People are well aware of their scam, but there is not much u can do about it since this financial system we have today is hard coded
into our systems, and it takes alot of time to get over that.
Banks are the worst enemy you can have when it comes to bringing up whole another system of payment, because in this case you are touching their profits, and
it wont go without a fight, and whats stoping them from terminating every bitcoin related account ? nothing..
For that to stop u would need to fight them on a political stage, and guess who controlls polititians... yup
Bitcoin is too small a problem for them right now, their fiat must survive and that is getting more and more difficult as more people are discovering their scam
People are well aware of their scam, but there is not much u can do about it since this financial system we have today is hard coded
into our systems, and it takes alot of time to get over that.
Banks are the worst enemy you can have when it comes to bringing up whole another system of payment, because in this case you are touching their profits, and
it wont go without a fight, and whats stoping them from terminating every bitcoin related account ? nothing..
For that to stop u would need to fight them on a political stage, and guess who controlls polititians... yup
Bitcoin is too small a problem for them right now, their fiat must survive and that is getting more and more difficult as more people are discovering their scam
People are well aware of their scam, but there is not much u can do about it since this financial system we have today is hard coded
into our systems, and it takes alot of time to get over that.
Banks are the worst enemy you can have when it comes to bringing up whole another system of payment, because in this case you are touching their profits, and
it wont go without a fight, and whats stoping them from terminating every bitcoin related account ? nothing..
For that to stop u would need to fight them on a political stage, and guess who controlls polititians... yup
The false promise of a Chinese made Bitcoin mining computer (the company is owned and run by Romanians living in the UK) delivered to my doorstep in 90 days feels like economic warfare too me. However, it didn't matter what company I chose in late November 2013. Every in-hand supplier was out-of-stock and every single pre-order available was a scam, my odds of being defrauded were 100%.
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