Banks Are Freaking Out About Bitcoin

in cryptocurrency •  2 years ago 

It's happening! Bank of America admits cryptocurrency is "a competitive threat" to their business.

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i just said this myself: Funny thought the same FUD as when the theft happened originally but now there's way more people involved and the market is incredibly resilient. The reality is that it could happen to any bank like in europe and the bank would have to shut down maybe go bankrupt if someone withdrew 3.75% of it's capital, but that didn't happen. If the banks are watching or testing they now know they cannot compete with crypto's

I used to be able to make instant crypto purchases with my Citibank Double Cash card on Coinbase, but not anymore. Transaction won’t even go through. I can use another card, but they are charging a “cash advance” fee of 3% on top of Coinbase’s fee. The fight is on and it’s real baby. HODL until we crush the Federal Reserve and the banking system...

doc. I don't think "HODL" is going to cut it. Somehow, there has to have an economy developed where crypto can be borrowed to purchase real estate, a vehicle and perhaps capitalize an enterprise. Otherwise, it will be colored as another "beanie baby" or "baseball card collection"... NOT CURRENCY. And obviously, as you point out: "Banks" connected to the Fed are NOT going to make this transition easy.

I use “hodl” as a kind of blanket term of support for cryptocurrencies. More than just buying some bitcoin and using it as a store of value, but using it to transact for everything in our daily lives without some financial institution playing the middleman and reporting back to the government. I completely understand what you are saying and totally agree, except that we are waaaaay beyond the point of some “beanie baby” or “baseball card” fad. Cryptos are here to stay, they will not go away, the banks know it and they are reaching full blown panic mode...

I am on in on the HODL no freaking out! The banking systems and the entire government is one BIG theft

  ·  2 years ago (edited)

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Waiting for the day when all expenses can be paid for in crypto. Until that day I have to use the poor services are bankers.

Side note: When will the crypto FUD end. Tried of these 10% dips when individual centralized exchanges have problems. Or when the suits open their dumb mouths.

OH wow! This is becoming very, VERY, entertaining. Got my popcorn ready to watch the collaps of these horrific institutions.

It's about time :)
They might as well come clean that Bitcoin is better than those pieces of paper that they churn out like there's no tomorrow.

That's great, all i have to do is to get me some of them Bitcoins haha

Game over Jamie "demon" !

Jamie 'Tapeworm' Dimon is worried.

At one side, Bank of America admits that cryptos is threatning fiat and bank business and on the other side crypto is showing bearish trend. Red every where. Let's hope for the best. @dollarvigilante

Banks ought to freak out
It just got started.
Bitcoin is doing to banks what Email did to the postal industry

Scaling solutions are getting close... fees are low... banks are starting to see the writing on the wall.

They should be!

The Tapeworm sector is so worried about Bitcoin and Cryptocurrency in general. It essentially gives financial freedom back to the people and takes power away from the Tapeworm sector.

The biggest issue I feel they are worried about is it causing a run on the banks. Total crypto market cap reached nearly a trillion dollars, that's nearly a trillion dollars plucked from their banks. This is a total rebellion against an unfair and now failing system, a global run on the banks.

True crypto currencies are the way to go because they simplify life compared to banks

Crypto assets are not an investment. It's an Exit. We Exit from you. We go invisible. One day there will be no more deposits they can print more, but nobody wants it. Cos we have long exited, boat had left. Then they collapse. (rhymes a bit, yeah!)

Banks are not scared of Bitcoin at all. Banks are scared of the myriad of FinTech competitors seeking to carve off profitable niche businesses (e.g. TransferWise, Wealthfront, [email protected], etc.) and by the changing consumer behavior of the millennial generation that has no desire to go to a bricks-and-mortar store to conduct their business when an app on an iPhone is all they need. Add in increased capital requirements driven by Basel III and the resulting drop in return on equity and the regulatory moat is increasingly looking like a regulatory prison wall.

Bitcoin is the face and brand, the first mover, the leader. Bitcoin is the father who's children will now inherit the banking sector, markets and industries. Bitcoin probably won't be on top forever, but it is now, which is why they want to demonize it to injure all other crypto-assets by association. In my view Bitcoin is still very important in this young and emerging asset class.

hi friends i've been waiting for your post karna I like posting a level again I also do not forget to say good luck for you, marked @ ramb.

They are starting to sweat for sure. I can't wait to see crypto take hold and flush these turds.

If anyone is looking to get some cryptocurrency, I would recommend Crowdholding. They are a platform where you can log in for free, give feedback and responses to tasks and get crypto for your responses. They better your responses, the more of a share you get. They already have DeepOnion, SmartCash and ITT on there. So you can cash out.

First they ignore you, then they laugh at you, then they fight you, then you win.

Hey banks!
I'm sure your reading this ...

Don't fight crypto. Embrace it. You'll do well.

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I don't blame the banks for being scared... soon crypto will take over the world currency-wise.. :)

So they should.

Let us hope that all these criminals run out of business and we the people take control of the free market society. I hope it happens very soon.

Nice to see Steem poised to be the best cryptocurrency backed up by actual human created content in this new age of censorship, surveillance, control and mass propaganda. That creates real tangible value for the world which means we all here are poised to do well in the future if we just keep revealing the truth about globalist thieves and warmongers. Thats where the real value lies in my opinion. Thats why I chose to be with Steemit. I hope the Steemit block chain developers realize this and always strive to make the platform better and better, and particularly enhanced the ability to promote free speech. If they always do that then Steem will continue to soar.

Speaking of truth, did anyone noticed that Hollywood put the young daughter of a terrorist in the middle of the Oscars this past week and portray her as a victim of Russian aggression across the entire media? This was done during their performance that promoted the #MeToo movement. They actually exploited an 8 year old daughter of a terrorist who fights alongside ISIS in Syria as a role model for women's empowerment. That shows how far down the rabbit hole the US media and Hollywood have now gone.

Now Playing on Dtube: Hollywood Caught Exploiting Eight Year Old Daughter of Terrorist in Syria For Women's Empowerment Movement at Oscars 2018 Ceremony

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