What would happen if the banks take control of Bitcoin?

criz2fer

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Quote from: AmericanBit on January 15, 2018, 02:26:12 AM

Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

It will not be very good think, if banks will control bitcoin they will fall into banking regulations, and there will be a lot of linked difficulties. Today I don't thin that it is realistic.

There will be no more decentralization if banks takeover cryptocurrency specially bitcoin. It is against the white paper of satoshi nakamoto.

Quote from: Aryadwipanggah on January 15, 2018, 01:43:00 AM

until now I have not seen anyone can control the bitcoin including the bank.From terms of price it depends from the power of buyers and sellers to form a price, I think the bank can not do anything against bitcoin.

Because they are afraid to lose these money with whales that can make the price pump and dump. Unlike in bank, they can control every money circulating in the bank.

Ksenia Goloveshko

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rapid development bitkoyna - a clear confirmation that in a natural environment without restrictions, the financial industry can develop much faster. But banks always limit freedom. And if they take control bitches under their control, this will lead to the fall of bitcoin itself, and I would not be surprised that there will be a large percentage money by the bank...

HG_Lincs

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Quote from: BingoDog on January 15, 2018, 02:12:09 AM

How could bank or any other financial institution possibly control bitcoin? This makes no sense, as well as this question.
They can't control the system taht is independent and decentralized. Maybe you are mixiing that with the fact that some banks are expermenting with bitcoin and trying ti use it for their benefit. But this is not the same as controling it.

Exactly.
If anyone knows just the Slightest bit about Crypto Currency, they will realize that the WHOLE DESIGN is based off being decentralized.
Asking that question of "What if" isn't even a logical question.
There is NO "what if".
It won't happen. It can't happen. Like. The word "Impossible", does not even begin to describe it.

marjon

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I don't think if just had a typo error " If BTC goes down, the ALT goes down". As some altcoins are not affected by the trend of Bitcoin price in the markets. They don't fully relied on Bitcoin. Perhaps, they develop unique and innovative features to overcome possible prolonged of price in markets. Nevertheless, some altcoins nominated to be centralized and can be controlled by the banks but can never be done the same with Bitcoins.

AmericanBit

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Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

It will not be very good think, if banks will control bitcoin they will fall into banking regulations, and there will be a lot of linked difficulties. Today I don't thin that it is realistic.

Harlot

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If big banks are hoarding Bitcoin for it to pump then we will see know difference as to what is happening to Bitcoin today. This is what big players or whales are doing now except with the participation of Banks we must expect that Bitcoin will be moving up much higher moving down much faster as banks are financial institutions they have the money to influence the market. It might be a good opportunity for us small players as well as profit taking can be much quicker as the price moves faster.

millgates

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Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

The price movement is normal, it's because most of people only take their profit in form of bitcoin or fiat. Although there are many altcoins which very expensive but we still cannot used it directly in our real life. The only one way to control bitcoin is by own it, so bank need to buy bitcoin to control it.

dysbulias01

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Hello......

I think , it will be difficult to bank control btc & all cryptocurrency.

Because, many countries think it was ilegal..

Well , if those really happens...

Bank will be use tax for all your transaction in bitcoin , they'll make rules about minimum & maximum price to buy either sell your btc ( with tax offcourse)

It's just my opinion.m.
CMIIW,Please.. ☺

BingoDog

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How could bank or any other financial institution possibly control bitcoin? This makes no sense, as well as this question.
They can't control the system taht is independent and decentralized. Maybe you are mixiing that with the fact that some banks are expermenting with bitcoin and trying ti use it for their benefit. But this is not the same as controling it.

ipanks

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Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

I don't know about this and not think too much. it is better to stay focus on collecting more bitcoin than thinking about that. but I think they will make some regulations for this and they will force us to register our wallet address so they will know how much our bitcoin amount and how often we send our bitcoin in monthly. they will try to control bitcoin and somehow they will use their source to know more info from bitcoin owner. maybe the time will come to see this thing happen.

ardyology

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Escorting Meets The Sharing Economy

Bitcoin is a digital decentralized platform and will remain that way until the last halving. As for the banks, yes they can affect the dynamics of the Bitcoin but it is impossible for them to control it. Yes, they created XRP because they believe it could take over the crypto king but the blockchain is way too distributed to be able to do such manipulation. As long as many have more faith in BTC than XRP then BTC will remain untouchable.

Aryadwipanggah

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until now I have not seen anyone can control the bitcoin including the bank.From terms of price it depends from the power of buyers and sellers to form a price, I think the bank can not do anything against bitcoin.

CoinChili

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Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

WTF this kind of question, seems you don't know what crypto currencies is, what it does and who develop those. Control of WHAT? better to get afraid of Big whales and countries who holds a huge amount of BTC if they're really exist. Cheesy

thanhthao1982n

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No one can control it because BTC depends on market fluctuations

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Bitcoin is part of something called, Crypto currencies. If the Banks buy all available bitcoins and this become public knowledge, then people will either create a new "Bitcoin" or use one of the other Alt coins out there. The Banks know this, so they created and developed their own Blockchain technologies or they simply influenced current Alt coin developers to help them.

We also have ex-Bitcoin developers, working for the Banks now.

mondobitcoin

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I don't think that is possible, because Bitcoin was created exactly for this reason, be independent and decentralized crypto currency
If for any reason this should happen, i think that more than 50% of users it will not use bitcoins anymore

Nabilog

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Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

Quote from: gigi55 on January 04, 2018, 06:01:32 AM

If BTC goes up, the ALTS goes down. If BTC goes down, the ALTS goes down. What would happen if they control most of BTC?
Thanks you!

If bank control the btc it is centralize already oligarch can dictate the price and manipulate the the market of cryptocurrency.
But there are good side though government most likely will not harass the cryptocurrency because tax will easily implemented as per the bank laws.

Generalbablita

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Is it really possible for the banks to control all of them?

xiguadady

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fuck i think I am the most stupid guy ,Iguess report is reply .and then I report 8... sorry

superloy

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#1 ICO on a Global eCommerce Ecosystem! Worldwide

The essence of bitcoin being decentralized will be gone. As we all know the decetralization aspect attracts many to invest bitcoin. And the main purpose if bitcoin will no longer be enjoyed. People want to be anonymous which will sure be gone if banks take charge. People will then lose interest on bitcoin. But will that really happen? Posibilities are there but only very minimal. I still doubt for that to happen.

Topic: What would happen if the banks take control of Bitcoin? (Read 337 times)