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Topic: When will banks start a war against bitcoin - page 15. (Read 16230 times)

member
Activity: 252
Merit: 15
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
I think not all banks are against BTC. Different banks are private and not ownership by government. On the off chance that the BTC will go higher request by the general population possibly different banks will redesign their administrations to acknowledge BTC. Continuously danger is the administration they need to charge some expenses to the players of BTC.
newbie
Activity: 140
Merit: 0
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
I have worked in banks more than 20 years.
And I see no reason to banks to wage war against bitcoin.
Perhaps certain states will lead this war by hands of banks.
But the bitcoin (and cryptocurrencies which have followed it) are favorable to banks. For war there are no reasons.
member
Activity: 173
Merit: 19
I do not know the exact time that banks will start against Bitcoin but it is possible to have a war between Bitcoin and banks because the will will turn to a bankrupt state and turn in closing the  business.
newbie
Activity: 2
Merit: 0
I live in Asia and it has been easy for me to send and receive my local currency to and from the exchange that I use to purchase crypto. I also believe that the banks will begin to fight back and they may start blocking transfers to exchanges even in my country. It's interesting that there was a major news story a couple days ago on the national TV here warning people to be very careful when buying Bitcoin and that they can lose a lot of money etc. etc.

They are doing what they always do to control the people...scaring them.

So they won't make it illegal to trade crypto. They will make it impossible to get fiat money to and from exchanges. The USA did this with online gambling. They realized that they were losing billions in taxation from the unregulated online casinos and poker sites so they came out with the UIGEA(which they passed in a very underhanded way). Then they actively prosecuted any institution that enabled money transfers to and from gambling sites. It was very effective. You can't escape from the DOJ. Online poker in the USA dried up overnight.

Even now they are attacking day/swing traders in the USA. They have come out with retarded tax laws that force people to calculate income tax after every trade and every transfer. This makes it an absolute nightmare for a trader to report their taxes properly. So if they cannot stop people using crypto they can attack from other angles.
member
Activity: 121
Merit: 86
You have 0 sendable merit (sMerit)
In my opinion, should this problem not be used as a war material, we can solve this problem by way of deliberation, Remember, in this world there are 2 worlds that is virtual and real world, let bitcoin live and victorious in its own habitat is cyberspace, and money will remain triumphant in the real world. Very strange if bitcoin will beat money in all things payment.
full member
Activity: 406
Merit: 100
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

When the author of this thread think about the war between banks and Bitcoin, another cryptocurrency Ripple on a wide scale organize cooperation with banks in Japan. Maybe they postponed successful experience on the neighboring countries.
full member
Activity: 308
Merit: 100
It can happen whenever crypto markets and banks would have a conflict of interest and when banks will experience loses in their brands than it will start.
full member
Activity: 154
Merit: 102
The banks already started the war against bitcoins, several of them are closing or blocking exchanges accounts, its funny that exchanges are providing the banks a lot transactions and fees with the service provided to trade crypto currencies, but they are scared since the volume are growing always. At the place where i do live now they had recently closed the account of one exchange already, they are starting to see the power crypto currencies has and are scared.
sr. member
Activity: 830
Merit: 258
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
In my opinion banks would try to make their own blockchain related system which are not decentralized, but with centralized office we already have one of those coins at market Ripple which controled by banks and they are using this coins to make transfers between users, it's good is somebody intrested at centralized blockain systems
member
Activity: 120
Merit: 10
I think it's starting already, and we just don't know it yet. They are probably plotting some ways to overthrow the dominance of Bitcoin with some other altcoins that they totally own *cough cough* XRP. Not sure about this though, so maybe we might just need to sit back and watch closely in the few years to come with how institutions would handle BTC in general.
full member
Activity: 203
Merit: 100
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
Why would banks will make a war against Bitcoin and also other cryptocurrencies? It is not maybe about competency anymore if banks will do such thing. I think it was all about insecurity anymore since people are more likely to use Bitcoin than engaging into banks so they are thinking of making a war against it? Practically saying, they must not do such thing because a lot of people are still into banks and must not worry because if Bitcoin has unique features that a bank misses, also bank has features that Bitcoin do also misses so its a tight fight between them. Better do improvisation of their services rather than going into a war like immature thinking people.
newbie
Activity: 238
Merit: 0
Banks will start a war against BTC when they start recording less and more less transactions as we all know the "spread" they charge per transaction is a very important avenue by hitch they generate revenue. They will be affected by the drop in banking transaction and that will cause them to wage war against BTC
sr. member
Activity: 462
Merit: 250
DONATION SENPAI PLEASE <3 <3
The war between banks and bitcoin has already started when it started to increase if you watch the news and search it online they are discriminating bitcoin as illegal, bubble, connected to crimes and useless. They are afraid that in stock exchange with banks bitcoin will be higher than them. I do think that they are cautious about bitcoin, they are afraid that they will get replaced and especially, bitcoin has no fees or whatsoever like banks when all of the people will understand bitcoin i do think they will switch to bitcoin instead of the banks who ask for fees with just storing it. I hope people will understand that.
full member
Activity: 161
Merit: 100
Instead of starting a war against it, banks should start investing in it, and try to get a piece of the pie.
full member
Activity: 258
Merit: 100
The trend to limit the circulation of virtual currencies right now in the world is really increasing. Jamie Dimon, executive director of JP Morgan Chase, one of the largest banks in the US, did not even try to choose the words, assessing the prospects for crypto currency. He promised to dismiss any trader from the bank, who will be caught for trading bitcoins. According to Daimon, bitcoin is "stupid" and "very dangerous thing." Since the market of crypto currency is uncontrolled by anyone, it can all end "very badly", the authoritative banker is sure.
full member
Activity: 222
Merit: 104
I think banks will figure out a way to stick around like targeting newbies. Unless the world of crypto is simplified like Paypal, it'll be hard for mass adoption. There's still a learning curve
jr. member
Activity: 57
Merit: 2
I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

I still await the time for the war/fight. Both from what I see, both have been working interchangeably well. Probably the internal war would have been the banks sensing that the Cryptocurrency market would still take over their work process and that they might be taking over their operations sooner or later. What do think the banks will try to be smart and learn more on how to adopt some of the Cryptocurrency operations so as not to go outdated on the long run.
newbie
Activity: 8
Merit: 0
Banks cannot stop bitcoin because both works together   Grin
full member
Activity: 1232
Merit: 186
In my point of view, that war will only happen if fiat currency of banks are now losing the majority of users because of switching into bitcoin. But honestly, I think that would be very far to happen since bitcoin still remains an option for others and couldn't penetrate our current banking systems. Yes! Btc is a threat but not too strong (as for now) to beat our banks, black propagandas such as scam accusations and stating crypto related crimes are enough to crush bitcoin or any other cryptocurrency slowly.
full member
Activity: 938
Merit: 159
the war is already begin,some banks at least in my country start to refuse to receive wire transfers from exchanges and can even block or close the bank account
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