Author

Topic: "Why Banks fear Bitcoin" (Read 3154 times)

legendary
Activity: 1512
Merit: 1005
November 23, 2014, 07:50:02 PM
#46
banks = rotten economy (still ruling)
bitcoin = healthy economy (slowly but steadily eating the cancer, converting rotten to healthy economy)

as simple as that.

Bitcoin - eating the cancer.

I like it.
legendary
Activity: 1512
Merit: 1005
November 23, 2014, 07:38:29 PM
#45
I can only imagine that the banks must be furious of a system that they don't control. I'm pretty sure that much is true.

I addressed the owning issue earlier though. We both know that Bitcoin has no theoretical upper limit with regards to other currency (it could shoot to $1000 or $100000000000 per coin) and if some kind of tipping point occurred then the government (or anyone else for that matter) wouldn't be able to keep up with buying enough of it to maintain control.

Theorise what you like about if and what such a tipping point could cause this but it does render your argument that Bitcoin is currently irrelevant, umm, irrelevant.

The fact that bitcoin is irrelevant, is irrelevant.
newbie
Activity: 15
Merit: 0
November 23, 2014, 07:00:07 PM
#44
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg
Hello fellow /pol/ack

It's happening.
full member
Activity: 224
Merit: 100
THE GAME OF CHANCE. CHANGED.
November 23, 2014, 10:57:04 AM
#43
...
Do you care that you don't control the eBay Beanie Baby market?

Not really, right?

That's how JP Morgan feels about the Bitcoin market....now.

With Bitcoin's Beanie Baby growth, larger institutions are sure to take notice. Not out of fear, but out of opportunity.
...

FTFY.  JP Morgan has, after tanking Beanie Baby prices, has been secretly investing in both Beanie Babies and Cabbage Patch Kids through a nefarious web of old bats.  Hodl FTW!

Your reliable government source,

  ~Bitch Pudding

Invest your kids college fund into bitcoin !
sr. member
Activity: 378
Merit: 254
November 22, 2014, 09:26:59 AM
#42
...
Do you care that you don't control the eBay Beanie Baby market?

Not really, right?

That's how JP Morgan feels about the Bitcoin market....now.

With Bitcoin's Beanie Baby growth, larger institutions are sure to take notice. Not out of fear, but out of opportunity.
...

FTFY.  JP Morgan has, after tanking Beanie Baby prices, has been secretly investing in both Beanie Babies and Cabbage Patch Kids through a nefarious web of old bats.  Hodl FTW!

Your reliable government source,

  ~Bitch Pudding
sr. member
Activity: 378
Merit: 254
November 22, 2014, 09:17:25 AM
#41
banks = rotten economy (still ruling)
bitcoin = healthy economy (slowly but steadily eating the cancer, converting rotten to healthy economy)

as simple as that.

Fastest way to get everyone on this forum labeled as a cult = portray Bitcoin as the solution to all the problems of society lol.


if you prefer banks, what tf are you doing here ?

Lol @ Bitcoiner logic:  If you don't think Bitcoin is the axe laid unto the root of the trees, you don't belong here.
Spoiler:  I love old Matchless thumpers, but doubt they'll replace all other modes of transportation.
sr. member
Activity: 378
Merit: 250
FURring bitcoin up since 1762
November 22, 2014, 09:03:21 AM
#40
I really wonder whether Western Union fears Bitcoin or they just thought that new WU/Bitcoin comparison was a stupid copyright/trademark infringement. It's interesting, I could really see them being at least somewhat alarmed by this. Especially Western Union, since I don't think banks per se will be in danger of becoming obsolete.
legendary
Activity: 2338
Merit: 2106
November 22, 2014, 07:24:50 AM
#39
banks = rotten economy (still ruling)
bitcoin = healthy economy (slowly but steadily eating the cancer, converting rotten to healthy economy)

as simple as that.

Fastest way to get everyone on this forum labeled as a cult = portray Bitcoin as the solution to all the problems of society lol.


if you prefer banks, what tf are you doing here ?
legendary
Activity: 1260
Merit: 1000
November 22, 2014, 05:49:56 AM
#38
banks = rotten economy (still ruling)
bitcoin = healthy economy (slowly but steadily eating the cancer, converting rotten to healthy economy)

as simple as that.

Fastest way to get everyone on this forum labeled as a cult = portray Bitcoin as the solution to all the problems of society lol.
legendary
Activity: 888
Merit: 1000
Monero - secure, private and untraceable currency.
November 22, 2014, 05:41:57 AM
#37
banks = rotten economy (still ruling)
bitcoin = healthy economy (slowly but steadily eating the cancer, converting rotten to healthy economy)

as simple as that.
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
November 22, 2014, 03:41:48 AM
#36
if you want to allocate resources first you need to extract them. It's like in the pool with the alligators, the dear energy will be extracted and reallocated in the crocodile, that will shit in the river feed the fishes, that will shit, feed the plants, the crocodile will die, feed the fish, feed the plants... the problem is when the crocodile tell the dear that it's for his own good...
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
November 22, 2014, 03:36:38 AM
#35
Quote
What Bitcoin, and the even more promising Ripple network do, is not to poke a hole in banking’s basic business models—lending, deposits, trading, and money exchange—but to create the embryos for entirely new markets typically referred to as the Internet of Value.

That's where I stopped taking Undheim too seriously.
legendary
Activity: 1260
Merit: 1000
November 22, 2014, 03:23:03 AM
#34
forgot to make this self moderated. one cannot even talk about banks without inviting disgusting arseholes ( who not even talk about banking. maybe they ARE bankers?)

You forgot to ask yourself why the bankers love to financially bomb out people in the country they live in instead of maintaining only a sustainable level of parasitism?  This is already known to sociologists, it's called "The Florida Effect".  People in Florida studied were more likely to donate and go along with higher taxes and funding that benefited districts consisting of groups of their own ethnic origin, because they saw the money as being an investment in the future of their lineage.

The same phenomenon is true of bankers and financial people.  While some are just complete psychopaths, the majority are also governed by the Florida effect.  They are more likely to loot and plunder people who are completely disconnected from themselves on a DNA and cultural basis.  They don't see America as really belonging to anyone, just a big vault to loot.

Liberalism is essentially a destabilization process to de-homogenize and implode a country as fast as possible.
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
November 22, 2014, 03:13:20 AM
#33
You can clearly tell you're a Marxist when you use words such as xenophobia.....There isn't a group of more hypocritical, double standard scumbags walking the planet than leftist liberals.

Um...okay.



Is that better?

legendary
Activity: 2338
Merit: 2106
November 22, 2014, 03:06:59 AM
#32
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg


Wow. Racist, homophobic, antisemitic etc. just in one picture


forgot to make this self moderated. one cannot even talk about banks without inviting disgusting arseholes ( who not even talk about banking. maybe they ARE bankers?)
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
November 22, 2014, 02:59:31 AM
#31
The response of several posters to this pathetic picture is not about some silly little politics or "political correctness", it's about the tastelessness, self-loathing, xenophobia and inferiority complex of the person who posted it.

You can clearly tell you're a Marxist when you use words such as xenophobia.  It's almost impossible to use that term without being one.  Typically any non-homogenous civilization collapses magnitudes faster than homogenous ones (Japan, China, etc, that just keep trucking for thousands of years).  America is only an experiment in this regard of "diversity", and most unbiased observers would consider that part of the experiment failed or failing.

Conversely, when Asian civilizations openly act "racist" and hostile towards foreigners, while also enacting laws to prevent their civilization to diverge from being homogenous, liberals high five them like, "oh hey, Asian culture, so cool!".  Then if a white civilization anywhere does it on a macro or even micro level, here comes the liberals throwing a tantrum saying, "oh, homogenous is bad, white people are bad, diversity is good!  whites can't be allowed to organize for common self interests!".

This is why liberalism collapsed and is only made up of white male hating lesbians, central planning communists, and other lunatics now.  There isn't a group of more hypocritical, double standard scumbags walking the planet than leftist liberals.



Let me tell you, I really like your tone, and it's not important if I like what you say or not, I will defend your right to express your opinions. And if the others side doesn't agree it will have too the same right. However, fools me once... Cheesy.
legendary
Activity: 1260
Merit: 1000
November 22, 2014, 02:54:29 AM
#30
The response of several posters to this pathetic picture is not about some silly little politics or "political correctness", it's about the tastelessness, self-loathing, xenophobia and inferiority complex of the person who posted it.

You can clearly tell you're a Marxist when you use words such as xenophobia.  It's almost impossible to use that term without being one.  Typically any non-homogenous civilization collapses magnitudes faster than homogenous ones (Japan, China, etc, that just keep trucking for thousands of years).  America is only an experiment in this regard of "diversity", and most unbiased observers would consider that part of the experiment failed or failing.

Conversely, when Asian civilizations openly act "racist" and hostile towards foreigners, while also enacting laws to prevent their civilization to diverge from being homogenous, liberals high five them like, "oh hey, Asian culture, so cool!".  Then if a white civilization anywhere does it on a macro or even micro level, here comes the liberals throwing a tantrum saying, "oh, homogenous is bad, white people are bad, diversity is good!  whites can't be allowed to organize for common self interests!".

This is why liberalism collapsed and is only made up of white male hating lesbians, central planning communists, and other lunatics now.  There isn't a group of more hypocritical, double standard scumbags walking the planet than leftist liberals.

legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
November 22, 2014, 02:16:02 AM
#29
Ummm guys...all of you "tolerant" retards responding to that picture: You do realize he posted it intentionally in order to piss you all off, right?

It's called trolling, in case you were wondering.

We're all glad how cool and tolerant you all are. Your Facebook friends would be proud. But please, shut up.



You too.
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
November 22, 2014, 02:14:11 AM
#28
It's funny seeing far leftists work themselves up to a crying rage...  

---raging hissyfit rant---

Far leftists? LOL Spend your day watching Fox?

Crying rage? Take a look in the mirror.

The response of several posters to this pathetic picture is not about some silly little politics or "political correctness", it's about the tastelessness, self-loathing, xenophobia and inferiority complex of the person who posted it.

No one is advocating censorship, just laughing at the moron who posted it.

My response would have been the same if it had put down white male heterosexual Christians.

Get a life.
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
November 22, 2014, 01:48:35 AM
#27
install digital electric meter in all home, impose that all electric appliances be connected to the digital electric meter- grid, make illegal any use of electricity that it's isn't approve by the gov, make hashers illegals (waste of energy under earth protection act)... to save the planet for the children so that rabbits aka people with 10 children that don't have the mean to raise them can make you feel guilty and so that you will have to sacrifice again what was left of what you owned (aka nothing).
hero member
Activity: 1022
Merit: 500
November 21, 2014, 11:58:45 PM
#26
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg


Wow. Racist, homophobic, antisemitic etc. just in one picture

Exactly my impression too.

It's funny seeing far leftists work themselves up to a crying rage about pictures such as those.  Only people with an inferiority complex who actually see themselves as inferior are offended by such things.  Without revealing what race/species/phylum I am, if someone was to use a derogatory, all-inclusive term about my category, I simply would not care because I don't see myself as weak and pathetic as most liberals see themselves.

There's a reason freedom of expression exists in America.  Trying to censor opinions, no matter how good or bad they may be in the arena of popular opinion, takes you straight down the road of softcore Marxism (ie:  political correctness), to full blown Marxism.  Do you want to live in a Marxist police state?  Yes?  Then have fun supporting censorship against things you don't agree with and standing in a bread line.

The picture shows ignorance

people can easily got scammed via bit coin that is why our country banned it.

When the State bans something just to protect its people what it does is it shrinks its freedom. There has been many scams but Bitcoin is a great innovation that solves many problems and is a great tool of exchange. All new innovations bring change and opportunities so they bring new problems as well.
With Bitcoin, you have to study and be careful; it is how it is suppose to be if you want to be free. People use to care what their banks was doing with their money because they could lose it all so banks were generally more careful.
legendary
Activity: 889
Merit: 1013
November 21, 2014, 11:41:27 PM
#25
Wow. Racist, homophobic, antisemitic etc. just in one picture
+1
full member
Activity: 126
Merit: 100
November 21, 2014, 11:41:15 PM
#24
people can easily got scammed via bit coin that is why our country banned it.
hero member
Activity: 602
Merit: 500
November 21, 2014, 11:37:50 PM
#23
banks which are smart are already in btc and don't fear it. The ones that are not will just come under the bus of history. That's all. Just the normal darwin-thing.
legendary
Activity: 1260
Merit: 1000
November 21, 2014, 11:31:49 PM
#22
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg


Wow. Racist, homophobic, antisemitic etc. just in one picture

Exactly my impression too.

It's funny seeing far leftists work themselves up to a crying rage about pictures such as those.  Only people with an inferiority complex who actually see themselves as inferior are offended by such things.  Without revealing what race/species/phylum I am, if someone was to use a derogatory, all-inclusive term about my category, I simply would not care because I don't see myself as weak and pathetic as most liberals see themselves.

There's a reason freedom of expression exists in America.  Trying to censor opinions, no matter how good or bad they may be in the arena of popular opinion, takes you straight down the road of softcore Marxism (ie:  political correctness), to full blown Marxism.  Do you want to live in a Marxist police state?  Yes?  Then have fun supporting censorship against things you don't agree with and standing in a bread line.
hero member
Activity: 1022
Merit: 500
November 21, 2014, 10:04:16 PM
#21
I can only imagine that the banks must be furious of a system that they don't control. I'm pretty sure that much is true.

I addressed the owning issue earlier though. We both know that Bitcoin has no theoretical upper limit with regards to other currency (it could shoot to $1000 or $100000000000 per coin) and if some kind of tipping point occurred then the government (or anyone else for that matter) wouldn't be able to keep up with buying enough of it to maintain control.

Theorise what you like about if and what such a tipping point could cause this but it does render your argument that Bitcoin is currently irrelevant, umm, irrelevant.


It is scary to think that the government may be able to kill Bitcoin if needed, when something is really wanted they have troubles making it disappear though
sr. member
Activity: 294
Merit: 250
November 21, 2014, 10:00:10 PM
#20
Anyway, I don't want any animosity here. I'm interested in theorising what will happen with cyber-currency and it's been interesting and left me with a disappointing thought that those in power could have the capacity to control what could be a revolution in the financial world. In fact I feel like I'm going round in circles. Good argument Devin Chow.
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
November 21, 2014, 09:57:37 PM
#19
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg


Wow. Racist, homophobic, antisemitic etc. just in one picture

Exactly my impression too.

Edit: @ Solitude - Hopefully your post was intended to be sarcastic, but it still was in terrible taste.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 09:39:20 PM
#18
I can only imagine that the banks must be furious of a system that they don't control. I'm pretty sure that much is true.

I addressed the owning issue earlier though. We both know that Bitcoin has no theoretical upper limit with regards to other currency (it could shoot to $1000 or $100000000000 per coin) and if some kind of tipping point occurred then the government (or anyone else for that matter) wouldn't be able to keep up with buying enough of it to maintain control.

Theorise what you like about if and what such a tipping point could cause this but it does render your argument that Bitcoin is currently irrelevant, umm, irrelevant.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 09:15:11 PM
#17
Then why the talk of "skinning a cat" if you believe that Bitcoin will fade into obscurity due to it's supposed impotence in the market?

You seem confused about your own theory. Not to mention coming across as a bit of a know it all. I admitted that I know little about economics and am trying to speculate/gain some insight into the future of Bitcoin, while you persist in gobbing off with these certainties of yours about how the government (who we all know like to keep their innermost dealings secret) are going to react.

You're just as speculative as I am. The difference between us is that I admit it.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 08:31:54 PM
#16
I'm no economist but I am deeply sceptical about the way our goverments have been running things (not just recently, but over decades).

Bitcoin may not have the market cap of USD but it has potential and, being open source, can be developed upon.

These are very interesting times we live in and I admit that the idea of owning a handful of BTC making me wealthy enough not to work in a crappy job again appeals to me but it can mean so much more than that.

I like the world I live in, even if it is by no means perfect and if Bitcoin is to have a future (it has to be better than the corruption that we're currently entrenched in) then we need to organise taxation and healthcare, law enforcement, education etc which is included within a crypto-driven/financially decentralised economy.

We need to organise sidechains and policies that fit in with Bitcoin, not just smugly sit on our BTC thinking about how clever we were that we bought into something early.

Like I say. Interesting times. I hope the banks fail but I don't want riots in the streets. Just fairness.

Anyway, It's 0130 here and I'm tired now, so I'll leave it there.
sr. member
Activity: 378
Merit: 254
November 21, 2014, 07:59:23 PM
#15
...
How else do you think they could destroy the Bitcoin infrastructure?
...

Bitcoin could be illegalized, like drugs or CP.  Most people who are invested in Bitcoin have no interest in being straight-up criminals.  Businesses will not accept bitcoin.  The price would plummet into irrelevancy if just US, unilaterally, took such measures.

But Bitcoin is really threatening, it doesn't threaten US only--it threatens all fiat currencies.  Currencies that are the lifeblood of world economy.  I think other nations will be glad to join in the Bitcoin Kristallnacht.  Some nations have already started down this road--China, Russia.

But I'm only entertaining your idea that banks/nations are actually scared of Bitcoin.  Bitcoin's current market cap makes it about as relevant and threatening as BBQ coin, when seen in perspective. 
sr. member
Activity: 294
Merit: 250
November 21, 2014, 07:27:22 PM
#14
Who said anything about attacking the technology?

There's more than one way to skin a cat.


Do you mean they would start prosecution orders against everyone that used Bitcoin? That would take some time to organise.

How else do you think they could destroy the Bitcoin infrastructure?

I'm not trying to test your patience. I'm genuinely fascinated by what may happen.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 07:21:43 PM
#13
... while they can simply, once the developpement is right, relaunch a "state"bitcoinlike and make this one illegal ...

Why would any of us normal folk, who know about Bitcoin and the power of a decentralised currency start buying state sanctioned crypto, with a blockchain run by the government, who have been proven to be corrupt with money for years? It would be like throwing your principles away.

Why would we bother buying a US sanctioned crypto if our open source Bitcoin network, based on freedom, was currently going through a massive wealth increase?

I hope I followed your post right, BitMos.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 07:13:05 PM
#12
Will it happen? I don't know. I think the powers that be would work extremely hard at preventing a decentralised currency becoming on a par with the banking system that they control and use to manipulate us and other states in the world.


What makes you think they wouldn't just control this market, like every other market, since the beginning of time?

They can...and they will.



I'm no expert on mining, but to attack the blockchain the goverments would have to buy vast quantities of mining equipment in order to compete with what is already running. Would they have this money to spare? They would have to suddenly switch on millions of powerful mining equipment.

If US/western hyperinflation occurred and Bitcoin shot up to the moon the goverments would frantically try to grab as many as they could in order to keep control but they wouldn't have the money to keep up if we were in the midst of an almighty accelerated bubble. Imagine BTC increasing 10 fold by the hour as a bidding war kicks and the exchanges became saturated with buy orders. You could pretty much sell at a ridiculously high price and they wouldn't have the funds to keep up.

Am I thinking on a reasonable level? Does anyone agree? Does anyone think that the western governments already have their hands on thousands of BTC already?
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
November 21, 2014, 07:03:13 PM
#11
fucking no, bitcoin are hoarded. there is no incentive to change. Imagine CITI BANK, IMAGINE THE SIZE OF THE BALANCE SHEET? Why would they make you rich (and you will do the same shit as your predecessors, aka prostitution and co) while they can simply, once the developpement is right, relaunch a "state"bitcoinlike and make this one illegal (with gitmo as an ending) what do you do? lol. American pikers in force here.
sr. member
Activity: 294
Merit: 250
November 21, 2014, 06:59:06 PM
#10
As I go about my daily life I sometimes look at the world. My world. My home town and imagine what it would be like if Bitcoin were to achieve parity with the banking system.

Every Truck that I see: £10,000. Every department store and the goods that it contains (lets take John Lewis, for example): a million in goods and wages. The place that I work: at least £10 million worth of machinery and supplies. Most houses that I walk by: £250K+. Cars, buses, railways: thousands upon thousands. I live near a large hospital which must have a hundred million of equipment and workers wages per year passing through it.

All of these things, if Bitcoin were to be part of the system, would make a single Bitcoin a vast amount of money.

Will it happen? I don't know. I think the powers that be would work extremely hard at preventing a decentralised currency becoming on a par with the banking system that they control and use to manipulate us and other states in the world.

It's a dream, but one hell of a dream.
full member
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
November 21, 2014, 06:25:49 PM
#9
because they become irrelevant  Shocked.
sr. member
Activity: 378
Merit: 250
November 21, 2014, 06:16:54 PM
#8
I wonder why the je-, i mean the banks fear bitcoin

https://i.imgur.com/rVKgMkx.jpg


Wow. Racist, homophobic, antisemitic etc. just in one picture
hero member
Activity: 674
Merit: 500
November 21, 2014, 06:12:30 PM
#7
I wonder why the je-, i mean the banks fear bitcoin

sr. member
Activity: 378
Merit: 254
November 21, 2014, 05:30:32 PM
#6
...
this is big, don't forget in the everyday slumps of fighting in this forum -why you are here and how great it is to be a part in such a mindblowing experiment.
...

Awe-inspiring.  May I suggest a series of motivational films?



*That price tho...  When it tanks like it's doing now, the only thing left is rousing high-minded rhetoric Undecided
hero member
Activity: 1022
Merit: 500
November 21, 2014, 05:08:15 PM
#5
Banks must make a fortune processing wire transfers. Bitcoin could cost them that money.

Bitcoin is negligible in size compared to other ways of exchanging value. I don't think banks are worried about Bitcoin yet but they may start becoming worried if it grows 5times bigger, they could use it and be part of the revolution. A lot of the banks we know will fail soon anyway, they are too worried enjoying the rewards of the FED policies and crazy sweet position they are in.
sr. member
Activity: 280
Merit: 250
November 21, 2014, 04:35:03 PM
#4
Until the IRS changes their stance on Bitcoin, I don't see how it can be practically used as a currency for U.S. citizens.  Exchanging Bitcoin for anything but Bitcoin is a taxable event.  Technically, if you pay for something with Bitcoin, even a cup of coffee, then you have a short or long term capital gain or loss to report.  It would be like walking around with a purse full of gold, in the eyes of the tax man.  Sure, you can break the law, but that's pretty shaky footing for what should be treated as a new currency.  The rest of the world, well that's another story.  So, as far as US banks are concerned, I think the only thing that interests them is the underlying technology.
newbie
Activity: 7
Merit: 0
November 21, 2014, 04:32:10 PM
#3
BANKS SUcK!
member
Activity: 152
Merit: 10
November 21, 2014, 04:30:37 PM
#2
Banks must make a fortune processing wire transfers. Bitcoin could cost them that money.
legendary
Activity: 2338
Merit: 2106
November 21, 2014, 03:50:46 PM
#1
nice article by mr undheim



more and more intellectuals in key positions are getting the message. he is not shy about his opinions. I disagree with his remark about ripple, but other than that it reminded me of reasons why i originally got so fascinated about bitcoin.

this is big, don't forget in the everyday slumps of fighting in this forum -why you are here and how great it is to be a part in such a mindblowing experiment.

Quote
Disruption can be a good thing, especially when it affects banking, a failing set of business models which, for all the tweaks, have been virtually unchanged for millennia.

Quote
That is, a way for regular folks, as well as specialists, to potentially monetize everything, regardless of location, traditional market access and jurisdiction.

Quote
Using the elegance of mathematics they enable almost instant transfer of value at almost no cost between two parties without the need for a trusted third party. The disruption lies exactly there: in disrupting the intermediaries.

Quote
In the case of Bitcoin, what is being enabled here is not merely a new market, but a market of markets; a platform for all kinds of new markets to emerge. In it, lies the promise of a transformation, as strange as it sounds, greater than the Internet. Denying such a potential is equal to denying the reality of globalization.


http://fortune.com/2014/11/20/why-banks-fear-bitcoin/?utm_content=buffer9e71b&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer
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