When will banks start a war against bitcoin - page 44.

Zenithar

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Quote from: Lmaooo on August 13, 2017, 06:51:47 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 doesn't like the idea of Bitcoin and never will because of that, whether we like it or not Banks are in war with bitcoin in one way or the other. Banks sees bitcoin as huge challenge so they can try any possible way to bring Bitcoin down which not going to happen. Cool

i think very soon a time will come when all the banks will also start accepting bitcoin.

Gabo

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They don't need to fight bitcoin, probably, they are trying to adquire it. For example through Digital Currency Group

Janation

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Quote from: Filmmmakerr on August 13, 2017, 06:06:29 PM

Once they realize that bitcoin is uncontrollable and is taking away billions from the banking institutions they'll try to either hop on it and control it or demolish it.

And why are bitcoins is taking away billions from the banking institutions? Any proofs or explanations? Bitcoin is taking no money from banks, it is not the case. The case here is if bitcoin become stable and will be having a low fee fransaction, there is a possibility that banks costumers will dramatically decrease.
They are being afraid of what might happen and what is the effect of this digital currency.

Yakamoto

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There's a pretty high chance that there is going to be nothing done to Bitcoin at this point, at least, nothing that the banks will be doing directly. If they do take action it will have to be done by the government and backed by the banks, but we all know that there is limited time within the government and it takes time, or money, to get a slot for a bill debate. If Bitcoin really becomes a big enough thing, you will likely see the governments in the west trying to curb its use, while the east will likely continue to adopt it. It's a shame that's how it is, really.

Filmmmakerr

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Hello. Bye.

Once they realize that bitcoin is uncontrollable and is taking away billions from the banking institutions they'll try to either hop on it and control it or demolish it.

sotoshihero

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Start a war? I think they are joining the bandwagon now. A bit late to them but they have the resources to utilize,implement incorporating in their system this blockchain technology. But still bitcoin is widespread already that it is difficult to control now.

maryvale

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Banks are investing in blockchain and they may create their own coins to facilitate the international money transfer.

Plie

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They already did, since the inception. Their war is in the medias, where they talk about Bitcoin only when it is related to ransomware and other illegal activities, to make Bitcoin look bad and turn people away of it.

Celsiuss

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I don't think that'll ever happen. We need banks for the economy. Say bitcoin became so huge banks had to shut down. How would you handle fraud? How would you take a loan? This is impossible without a bank, and bitcoin cannot solve problems like this.

manchester93

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Quote from: dreamer81 on August 13, 2017, 02:27:04 PM

Banks will not start any war against crypto. The smart banks will try to adopt it, the dumb banks will crash.
The governments though, they will fight it with all they've got.

I remember hearing that the European Central Bank was telling people not to invest in Bitcoin and trying to exaggerate the risks of speculative investing in cryptocurrencies. Fair enough, they are speculative, but it seems that the gambles made by early investors are certainly bearing fruit now.

Even governments seem mostly receptive at this point.

streazight

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Quote from: Xester on August 12, 2017, 12:12:03 AM

I never heard that news or read and article about banks making such accusations with bitcoins. Merely because the bank here in our country supports bitcoin. I do not know if it is really a support but whenever I want to encash my bitcoins, I can withdraw it in a bank. Whenever I wanted to pay our bills or even my credit card bills I can use my bitcoins to pay them. I can even buy bitcoins through banks and some other cash remittances. So your topic or statement that there would be a war between bank and bitcoin is impossible.

So, banks have started making bitcoins as their money system. Pretty cool move! Obviously, this way banks will still have benefit and they will be able to control our money again. This is how you stay in business. I wonder how much profit they are going to make out of this. Damn sure a lot. Anyways, not all the banks of the world will accept bitcoins.

btcxyzzz

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Monero - secure, private and untraceable currency.

Never. Too late now. They are taking their seats now.

dreamer81

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Banks will not start any war against crypto. The smart banks will try to adopt it, the dumb banks will crash.
The governments though, they will fight it with all they've got.

BingoDog

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I think that times when banks would start a war against bitcoins are over. They accepted it as a reality and niw are only looking their best interest in it and how to make money from it. They don't even look at bitcoin as their competition so there will be no war.

Webetcoins

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Quote from: panju1 on August 13, 2017, 12:24:24 AM

Quote from: monocolor on August 13, 2017, 12:19:30 AM

I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

There is a big difference between Bitcoin and blockchain. Using blockchain technology reduces costs a little bit, but not much. International money transfer has high levels of compliance costs, which will still be there, whether you use SWIFT or blockchain.

Banks only do whatever is in their favor. Bitcoin is a rival rather their enemy. If they are investing in blockchain technology, it does not prove that they are supportive in regards of bitcoins. Blockchain technology aids banks because of its little cost and nothing else. In my opinion, Bitcoins are a constant threat to banks.

Slark

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Quote from: stevebc on August 12, 2017, 07:54:17 AM

The banks won't start a war against bitcoin.

Now Central banks, tax authorities, law enforcement agencies... they might take action.

You see the IRS hassling Coinbase
FBI hassling BTC-e

so yeah...I guess that was has started!

We need to realize a simple truth - the more people using Bitcoin we have, the more adoption we have, the fewer people will be using Banks in a direct way.
So we can say that bitcoin, for now, is non-direct competitor of Banking industry, which might change at any moment. That is why banks are feeling more and more uncertain about digital future.
Until now banks are kinda privileged and on top of the payment processing food chain, but for how long when bitcoin marketcap, usage and adoption will grow?

megynacuna

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Quote from: Sowik on August 13, 2017, 07:48:13 AM

Or maybe they will start using some kind of crypto as well. I doubt Bitcoin will grow that much that it threatens banks any time soon, not enough people know about Bitcoin.

I beg to differ, because Bitcoin is widely known around the globe and it keeps spreading everywhere and so I have no doubt that it governments around the world will feel threatened and fight against it through their central banks in the near future.

andaresta

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If bitcoin will not fight the bank, but bitcoin will do the same work but, the government always wants to control the transaction and demand buyers and sellers in bitcoin.

Sowik

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Or maybe they will start using some kind of crypto as well. I doubt Bitcoin will grow that much that it threatens banks any time soon, not enough people know about Bitcoin.

v0rtecxz

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So far as we see together, bitcoin growth is very fast and its value is pretty high, and I think there are some banks that are starting to see bitcoin as a potential to add to their service, which is a bitcoin exchange service with money and there will be cuts Which is given for some transactions made using bitcoin, bitcoin is now dominating but if bitcoin is considered a threat to banks I think they will experience a useless thing, because they can get some benefit if they work together for the exchange or something else,

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