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Why are big banks so nervous about Bitcoin?

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There was a time where Bitcoin was not even on the radar, it was a novel idea that was primarily used by thieves and drug dealers on the dark web. Nothing to be afraid of in terms of holding a monopoly on money.

However, that same little upstart is now disrupting the system of things; from Bitcoin and other cryptocurrencies, ICOs and the ever impressive Blockchain technology. This is now a legitimate threat on traditional banks.

Banks have existed unchallenged for hundreds of years, and that is the key issue here; Bitcoin, backed by a solid platform such as Blockchain technology, is a ghost that is incredibly hard to control due to its decentralized nature.

The power and control of money is being ripped away from traditional institutions, which can also be seen on Wall Street. Some of these traditional investors are siding with what could be the future, while others vehemently denounce it.

Individuals can now enter into direct peer-to-peer trusted exchanges with strangers. They no longer need a central institution to vouch for the other party.

Just like the fax machine, the library, even metered taxis, new technologies have come along and made others obsolete. Banks are now in the sights of Bitcoin and are in their death throws, as they lash out with the power of states behind them.

However, there’s no stopping progress, and even with state-backed regulations trying to wrestle the money of the people under control, banks have every reason to be nervous.

Full news https://www.cointelegraph.com/news/why-big-banks-are-so-nervous-about-bitcoin

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I truly believe banks are not so nervous about cryptos (maybe some but the bigger ones probably not). I don't see them being caught out of gard about it since they were aware of btc since years. And they don't even have to be early-adopters in cryptos, they have enough money to buy large amount of crypto really quickly (i believe it's one of the reason of the actual BTC rise).

Plus they will launch some crypto project to grab their part of the treasure too, like this one http://www.newsbtc.com/2017/09/01/six-major-global-banks-partner-bring-utility-settlement-coin-life/

If Blankfein tweet publicly about the interest of Goldman Sachs in cryptos, that means they are fully focus on it since months or years : https://www.bloomberg.com/news/articles/2017-10-03/blankfein-tweets-on-bitcoin-that-paper-money-was-once-odd-too

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2 hours ago, Dboyeric said:

потому что биткойн не централизуется и не управляется каким-либо вершинным банком. мы, пользователи, определили рост и падение биткойна самим

I am sure that the banks swear that bitcoin can be very expensive and the whole pot to buy if you have 10 bitcoins

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13 hours ago, alena30 said:

I agree to everyone after listing their statements but the question is will bank come to an end?

 

the near time, they will ban the exchange of currencies if it reaches 100k $ in the us is going to be very big numbers that the Bank can't afford

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9 minutes ago, MegaBetzZz said:

the near time, they will ban the exchange of currencies if it reaches 100k $ in the us is going to be very big numbers that the Bank can't afford

trust me, some elite in the U.S government are into bitcoin

16 hours ago, alena30 said:

I agree to everyone after listing their statements but the question is will bank come to an end?

 

yes bank will become useless, which  is why they are speculating that bitcoin will crash, the banks are the ones speculating the crash of bitcoin

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