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Topic: What It Means For Banks When Bitcoin Is Worth More Than Gold? - page 2. (Read 2401 times)

legendary
Activity: 1218
Merit: 1006
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
Actually there is big resistance on $1200 so some correction before crossing that price range is normal. After few correction it is quite sure that price will pump hard again.

What it would mean for Banks when Bitcoin will cost more than a gold?
They are not interested in bitcoin and what they cares is just a physical gold which they can touch. Grin
They may be buying bitcoin silently  Wink
hero member
Activity: 868
Merit: 535
When the prices do go over the prices of gold, then that would really spark a movement that would cause the gold horders/holders to drop their gold and buy bitcoins. That would also mean that banks will lose money over this as most banks would be holding money and if bitcoins prospers, there would lesser people wanting fiat.
hero member
Activity: 615
Merit: 500
Very clear their concern over the possible existence of Bitcoin markets which continue to threaten the world economy through banks that are economically financial markets held by them.
No one will ever be able to stop the rate of Bitcoin, will further increase and continue to rise
hero member
Activity: 2996
Merit: 524
Leading Crypto Sports Betting & Casino Platform
It would not mean anything. Just a mad person to sell his bitcoin for the lower price. but actually, $1200 is ATH of bitcoin. So for those people have already sold their bitcoin at that price and they're so lucky person.
sr. member
Activity: 686
Merit: 253
I believe the banks will swallow a humble pie and accept Bitcoin as it is if it manages to go pass gold in terms of prices, because they've refused to give it the necessary recognition it deserves and have tried limiting its usage due to unhealthy competition.
legendary
Activity: 3248
Merit: 1070
banks are happy when bitcoin price goes up, because it means by the time bitcoin is rising there are a lot of translations going through their service which will give them lots more fees to process all these transactions. once when people deposit money on exchanges to buy bitcoin and once when they sold and cash out to banks.
an by the time prices are rising like this, people do this more.

transaction don't go through banks service, from where this come? you made it up, transaction are routed by miners not banks, bitcoin is decentralized for a reason

if you mean bank exchange like xapo coinbase etc..., those only get the fee from trading and not for deposit
legendary
Activity: 3248
Merit: 1130
Leading Crypto Sports Betting & Casino Platform
Scary little bitcoin.  Grin
Is there a panic now with other commodity investors and those who put their money to other currency thinking they have much movement than bitcoin?
Sure do. A little more and it might come to many news channel. It will be hard for some people to swallow this truth.
Something that died went back to life. herherher  Cool
hero member
Activity: 532
Merit: 501
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
That it is true. A lot of people don't want to see Bitcoin costing more than gold, but it isn't up to ordinary people, it is mostly up to people who own extremely large amounts of Bitcoin or exchanges that have a lot of Bitcoin. They the ones with the real power. They choose when they want to pump and dump and that is what actually controls the price. But the second part of your post is not correct, a lot of people sell Bitcoin in a panic when the price goes up because they have made profit, they don't do it so that they can keep the price of Bitcoin low.
hero member
Activity: 1400
Merit: 571
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

this is nothing new and that is not "someone".
every time price goes up, people who have invested in short term cash out to make profit, then some times there are even manipulations that cause panic sells too and price goes down. it is all done in all the other markets too but in smaller scale, people sell for profit : normal.

and don't worry too much. price is going to be higher very soon.

and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry.

I don't know why these people are still using bitcoin, they want bitcoins price to be low, and it doesn't make any sense at all, because most of the bitcoin users are wishing that bitcoins price is always fluctuating on a higher one so that they could a lot of profits from it, but some of them do not want to, then I guess this guys should stop using bitcoin right away and use gold instead.

Because they are not getting any benefits at all if they are selling their bitcoins in a low price if its price got higher, this is insane, because no one would ever do that.

And banks don't care about bitcoin, because they know that they can't touch it, because it is decentralized, even bitcoins price gets high all the time, the banks can do all the time is to watch bitcoin to its way to success.
legendary
Activity: 3472
Merit: 10611
banks are happy when bitcoin price goes up, because it means by the time bitcoin is rising there are a lot of translations going through their service which will give them lots more fees to process all these transactions. once when people deposit money on exchanges to buy bitcoin and once when they sold and cash out to banks.
an by the time prices are rising like this, people do this more.
sr. member
Activity: 364
Merit: 250
the answer is simple : ETF of GOLD will be in shit mode.



and bitcoin value will be skyrocketed to 3500 USD.





https://ybitcoin.com/articles/bitcoin-as-an-investment/
Wait, isn't >50% of black market transactions in btc already? We need to pump those $44,000 numbers up, those are rookie numbers
legendary
Activity: 2912
Merit: 1852
...

Roommate Agreement wrote:

"and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry."


That would be my take as well.  The banks will not likely worry about BTC until if/when it becomes a popular (for the masses) payment system.

I don't think that gold will be much influenced should Bitcoin price go higher than Au (I would guess that BTC will be higher before, but that's a guess).
hero member
Activity: 770
Merit: 500
Bazinga!
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?

this is nothing new and that is not "someone".
every time price goes up, people who have invested in short term cash out to make profit, then some times there are even manipulations that cause panic sells too and price goes down. it is all done in all the other markets too but in smaller scale, people sell for profit : normal.

and don't worry too much. price is going to be higher very soon.

and to your main question, it means nothing to banks what bitcoin is worth. if people start using it instead of investing in it that is when they start to worry.
newbie
Activity: 40
Merit: 0
The simple explanation is that no matter in what country you live our system is like an Hitler, they want us to believe in value they can control, gold and any other currency and if they lose control they will try to put a star of david on you.

And as you said, sheeps will run from Bitcoin wolfs will stay, we know that Bitcoin is not and ideal and we need to work to make it more adoptable.
Only with our work Bitcoin will become best asset and we as early adopters know it. No matter who is attacking Bitcoin we will stay and improve it to make it best asset.
newbie
Activity: 56
Merit: 0

I think we need wolfs to fight against wolfs if this is an attack from bankers...
This is a war and when Bitcoin millionaires collaborate together to keep Bitcoin price for more than a Gold we will show for the all world that the Bitcoin is better than their system of scams and this will be the second biggest period of Bitcoin.
legendary
Activity: 1512
Merit: 1012
the answer is simple : ETF of GOLD will be in shit mode.



and bitcoin value will be skyrocketed to 3500 USD.





https://ybitcoin.com/articles/bitcoin-as-an-investment/
newbie
Activity: 56
Merit: 0
We clearly see that someone do not want to see Bitcoin cost more than gold price, when Bitcoin hits 1200$ instantly someone is starting to sell Bitcoin very cheap to control the price.
What it would mean for Banks when Bitcoin will cost more than a gold?
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