When will banks start a war against bitcoin - page 39.

ShadowBits

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Quote from: matjas on August 10, 2017, 10:55:08 AM

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?

Bitcoin will surely keep going up. The government nor banks etc can't stop it. It's not based on any central authority. It's like a relationship between people who are interested in it, and not centered authority.

L00n3y

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Quote from: Gheka on August 15, 2017, 01:04:27 PM

Quote from: RajaJudi on August 15, 2017, 12:27:50 PM

I do not think that bank will start a war against bitcoin due to many reasons. Bitcoin is good right now and people are in love with bitcoin. The number of bitcoin users increases every year and if banks against bitcoin, the number of people who use bank will decrease sharply

Banks will not be against bitcoin because bitcoin does not really affect the bank, many people earn bitcoin but in the end, they will also convert bitcoin into cash then the cash will be deposited into the bank, banks will charge service fees, Bitcoin helps banks, so banks do not have any reason to war with bitcoin. In addition, Bitcoin is a trend in the future and banks can develop when working with bitcoin, it is the first development step in their future, they will not be foolish against their good future

The question is until when.
We're making this situation because not everybody can afford a smartphone and not all areas have internet connection. Think about 30 years from now, I think the technology can reach almost every part of the world at that year and making the cryptocurrencies system of payment on that year is very feasible. We all know that banks are aware of this cryptocurrencies and I think they will just let the system go. There are so much to ask here and we still don't know the answer because we're not reaching the point where people are already confused on what will they choose. Digital money or fiat and what if government offers to digitalized our money in the bank. A blockchain controlled by them. Hmmm I think we have so much more to eat in order to make BTc a main currency.

jonnybravo0411

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I believe that banks are really afraid of competition and in the future will take bitcoin in their system or destroy bitcoin so that it does not interfere with the work of a well-established banking system.

ramsdaj28

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اللعنة

Quote from: matjas on August 10, 2017, 10:55:08 AM

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 don't think that banks will start a war against bitcoins. In our country, bitcoins is even supported by the national bank. Bitcoin and the national bank of our country support each other. Bank will even get benefits from the bitcoions, and vice versa. Unless a third party will create a conflict between banks and the bitcoin, there will be no problem at all.

ClvrGmr

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Quote from: henmark on September 01, 2017, 02:37:51 AM

Quote from: matjas on August 10, 2017, 10:55:08 AM

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?

Banks would start waging a very fierce war against bitcoin once people start withdrawing their cash to fund bitcoin wallets. Presently it hasn’t started because a lot of companies don’t accept bitcoins yet.

People may be withdrawing all their cash and invest to bitcoin but banks isn't just for keeping money. Banks do have loan funds like car loans, housing loans etc. which bitcoin cannot give to people. Knowing that it is a person to person transaction, a person can't just end someone for him to get house or a car because he might get scammed. See banks have still their own advantages on bitcoin although bitcoin seemed to be more progressive. This is because banks has established their own purpose to the community which is very helpful and people will not stop availing it.

henmark

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Quote from: matjas on August 10, 2017, 10:55:08 AM

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?

Banks would start waging a very fierce war against bitcoin once people start withdrawing their cash to fund bitcoin wallets. Presently it hasn’t started because a lot of companies don’t accept bitcoins yet.

dimonstration

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Dimon69

Quote from: Kevin77 on August 25, 2017, 03:35:07 PM

Quote from: CryptoWorld87 on August 24, 2017, 10:45:52 PM

Quote from: monocolor on August 24, 2017, 10:00:49 PM

Banks will not start a war against bitcoin. There's simply no need. Banks may develop their own blockchain technologies and take advantage of it. Bitcoin is just like gold, it does no harm to the banks.

yes defenately the bank will play against BTC in the future they will make a bank too switch to crypto currency or blockchain so all the money they are holding will simply in there hand and not to any other 3rd party

Or the banks have one other option. Instead of coming up with their own new blockchain technology which will take some time in order to get adopted by customer, they can implement the existing one by accepting bitcoins like the central bank of Philippines has legalized it. However, if they will reject it totally, consequences would be different and definitely not in their favor.

Another blockchain technology they will do i think thats what they will do instead of see this as a war they will use it if they see the bitcoin potential. There is a lot of advantages we can see here in bitcoin for being in demand.

toltec3000

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not even funny how many guys are optimistic regardles banks. blockachain tech is here to destroy current monetary sytem based on endless depth and endless printing or better issuing money from thin air.

jal007

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see this article it can may be explain more about this war

https://news.bitcoin.com/banking-system-obsolete-bitcoin-blockchain-are-the-future/

Answerme2

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The aim of bitcoin is decentralization and giving people the right to truly own their money without depending on 3rd party.banks can't and are are not capable enough to start war against bitcoin.Even government can't.bitcoin is p2p just like torrent,email,tor project.you can slow it down rarely but can't stop it.It's the revolution

bitcoinorcash

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When the bitcoin reaches its lagality from all countries all over the world.Because the main advantage of banks toward bitcoin is its legality.Bitcoin must be legal first in all the countries for the bank to make move against it.

swogerino

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Bitcoin Casino Est. 2013

Banks do not need to start a war against bitcoin now. Very few people of world population knows bitcoin and uses it everyday, the rest uses banks. Bitcoin is still in its infancy stage so banks do not see it as a real threat yet. Even if the banks did start a war against bitcoin this war would be lost since the beginning and in fact this war would be beneficial to bitcoin. As soon as the banks starts to attack bitcoin many people will become curious to know it. As soon as these people that the main idea behind bitcoin is be your own bank they will fall in love with bitcoin and start to gradually go away from banks.

bohr

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Quote from: Klausi on August 23, 2017, 10:11:49 AM

Quote from: RajaJudi on August 15, 2017, 12:27:50 PM

I do not think that bank will start a war against bitcoin due to many reasons. Bitcoin is good right now and people are in love with bitcoin. The number of bitcoin users increases every year and if banks against bitcoin, the number of people who use bank will decrease sharply

Literally it's not the same as war like happened in the past or in history but I think it won't be like that I guess there are strategic ways of how banks target bitcoin. They already know that it's been running for years and many people are having good feedback about it. That's why some are shifting investment or savings from the bank to bitcoin. Banks are of course competitive when it comes to their business. Therefore, they may be hire some professionals to see how bitcoin movements in the economy.

The issue is that banks must know that there is not a way in which they are going to be able to compete with the earnings that bitcoin gives, just in this year bitcoin went up 400% how many years or decades you will need to have your money in your bank to get those results, and in fact those are not even our whole earnings in this year since we still 4 more months before the end of this year so our earnings could improver even more.

Kevin77

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Quote from: CryptoWorld87 on August 24, 2017, 10:45:52 PM

Quote from: monocolor on August 24, 2017, 10:00:49 PM

Banks will not start a war against bitcoin. There's simply no need. Banks may develop their own blockchain technologies and take advantage of it. Bitcoin is just like gold, it does no harm to the banks.

yes defenately the bank will play against BTC in the future they will make a bank too switch to crypto currency or blockchain so all the money they are holding will simply in there hand and not to any other 3rd party

Or the banks have one other option. Instead of coming up with their own new blockchain technology which will take some time in order to get adopted by customer, they can implement the existing one by accepting bitcoins like the central bank of Philippines has legalized it. However, if they will reject it totally, consequences would be different and definitely not in their favor.

nrvasquez

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Quote from: matjas on August 10, 2017, 10:55:08 AM

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 it might happen, when people start switching to another product (bitcoin), the bank will start to run a strategy to lower bitcoin users in any way, because the bank is also affiliated with the government, so they are easier to do. I hope this will never happen.

robeast007

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Its just a words nothing else it is impossible to take any action against bitcoin . Bitcoin is served all over the world if it can stop i think all the currency of any country will become nill.

Cazkys

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Accusations, disparaging remarks, mudslinging, and propaganda is part of business. It’s normal to do these things especially if they see that their businesses are threatened. But we need to see the positive in this, they are THREATENED. They see the potential of Bitcoin. They see that it is getting bigger, gaining users, gaining speed of being more globally accepted. Banks will just have to up their ante and services if they don’t want their consumers choosing between them and Bitcoin. Harsh campaign will start against Bitcoin, I think, if it’s already considered a legitimate currency.

CryptoWorld87

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Quote from: monocolor on August 24, 2017, 10:00:49 PM

Banks will not start a war against bitcoin. There's simply no need. Banks may develop their own blockchain technologies and take advantage of it. Bitcoin is just like gold, it does no harm to the banks.

yes defenately the bank will play against BTC in the future they will make a bank too switch to crypto currency or blockchain so all the money they are holding will simply in there hand and not to any other 3rd party

monocolor

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Banks will not start a war against bitcoin. There's simply no need. Banks may develop their own blockchain technologies and take advantage of it. Bitcoin is just like gold, it does no harm to the banks.

ivrynx

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I think banks shouldn't start a war against bitcoin, since both can go hand in hand if they want to, but the bank's fiat money will be in danger if they they want war with bitcoin, for example a cup of joe is priced at 3 dollars and it is equivalent to 0.00000001 btc, if banks went war with bitcoin that cup of joe, will have the same price of bitcoin in the US, russia, china and all parts of the world, however if you trade in that 3 dollars to philippine peso, it would cost 150php, now lets get rid of the banks, all cup of joes will only cost a fraction of bitcoin, all over the world, no need to exchange your money to foreign currencies, everything will have the same price, there would be equality among nations, because of a one world currency, the banks will become obsolete, since there is no innovation to fiat, and is no longer backed up by gold or any other commodity, bitcoin however is digital currency that all nations can have or access, if not banned by their law. I also think that banks will war against bitcoin, simply because the value of fiat money is loosing to bitcoin, in time they may need to acquire bitcoins in order to save their business.

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