Banks Are Terrified of Cryptocurrencies & This Is Why

in news •  last year 


In this video, Luke Rudkowski talks once again with Josh Sigurdson of World Alternative Media about the latest in crypto news!

This week Bank of America warned in an SEC filing that there's a serious concern that cryptocurrencies will hurt their business and that they need to adapt immediately.

An investigation by Nikkei Asian Review in Japan showed that cryptocurrencies only made up for about 0.16% of money laundering reports which contradicts the mainstream claim that crypto is mainly used for laundering.

Another notable story is the attempt by states and central banks throughout the world to create their own cryptocurrencies.

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Banks are not terrified of cryptos in the least. Cryptos are not much more that a bug that can be squashed at any time. The only reason they are allowing cryptos to survive now is just to let us work out the bugs before they come in and take it all over.

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Total rubbish!

Good stuff, just followed.

  ·  last year (edited)

We've seen lots of dollar laundry around the world, especially in south American drug cartel, but they don't care about it. One thing so funny is that they keep printing money, then the people keep depositing crypto inside their wallet to hedge inflation and economic collapse. ;)

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You still have a long way to go, young people. But you will change the world.

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@corexx have a point,
I am very glad you are talking about this because I believe your voice is likely to be heard. I know others have talked about this in the past, but I don't see this being taken as seriously as I would like it to be.

This is the only real negative I see on this platform. Any other problems are rather trivial, but like you say, this could get someone hurt.

Thank you for talking about it and I hope this conversation gets some traction.

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A case of calling a dog a bad name in order to hang it. The hedge against inflation of crypto could even be better than that of real estate.

Banks are terrified and are only doing their BEST to slow down the process, this is why we all need to keep sharing with others the TRUE benefits of Crypto Currency's and the long term vision. It all starts by helping 1 person a day understand Blockchain & Crypto and show them how to use Crypto... 2018 will be an epic year

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It's going to be amazing!

JS2.jpgLR.jpg

Josh & Luke make a great pair to cover the topic of cryptos!

Love watching their individual channels and have been doing so for years.

They work tirelessly day in and day out to present the truth to us. That is why I put them in my dream team of HEROES OF TRUTH

__HEROES_OF_TRUTH-wURL.jpg

Keep up the fantastic work guys and hope you are not too cold getting back home after Mexico!

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lol Well thank you! Weird to see my mug in there. haha

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Not a mugshot! You are a very upright and passionate person! Keep it up!

The banks should be scared. A freer, better product is about to replace them much more efficiently and honestly.

Let us all introduce steemit to our friends and families so they can enjoy cryptocurrencies, empowering them and also alleviating their poverty.

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what i love about cryptocurrencies is it's fair to everyone, unlike other investments only capitalists get rich

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Let's get rid of Facebook and the MSM.

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Im with you.

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Amazon.

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Let's also begin to trade, conduct commerce in $teem/$BD for realz!!! Replace the dollar with $BD in your everyday purchases! I'll work for $teem/$BD. If you sell stuff...offer discounts for paying in $BD/$teem.

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Luke looks luke my brother... B.T.W.

Banks will have difficulty competing with cryptocurrencies exponential rise to the market. If they will not adapt it now then they will have difficulty adjusting their business in the market and soon bankrupt is imminent!

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i think you should replace the world 'dificulty'' with 'trouble'.

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Thank you for this quote it is priceless!!

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I agree ,,,, but btc was a Deep state creation ,,, the motive is slowly surfacing

They’re terrified of crypto because their fiat based debt is going to be worthless. Crypto currencies are like a black hole for conventional financial assets. The gravity willl be so great that nothing will be able to escape the pull!!

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You still have a long way to go, young people. But you will change the world.

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Haha! Thanks @bill-gates! It's just a matter of time, can't predict when. Gotta play smart!

banks are scared of crypto like youtube is scared of dtube

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That's right.

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Hell yeah, you hit the nail on the head

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yes banks are scared because crypto market never stay's stable.

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Yh. We have seen it in the likes of Jamie Morgan's comments. It's the next big revolution

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haha they better be! :)

Money laundering is the main reason kept banks scared!

Good post!
If you want to improve your payouts you can read this SteemIt Guide:

https://steemit.com/steemit/@teamsteem/the-ultimate-guide-to-steemit / https://steewit.com/steemit/@teamsteem/the-ultimate-guide-to-steemit

I think in the next few years, all banks will create their own token or at least they will have a balance of cryptocurrencies and Ripple.

Blockchain will go everywhere and it's unstoppable as Bill Gates said.

Thanks Josh for this interview, helpful as always :)

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You still have a long way to go, young people. But you will change the world.

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well when you put it that way... really makes you think. Thank you Bill.

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I've noticed how good you are with computers there, Bill. Hows about you join me and my team?

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I'm old, and I have a lot of things to do.

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Do it for the young people, Bill.

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Thank you
sorry
I cheated you
I'm not Bill Gates
I am his followers
I'm a fan of his fans

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It's OK. God forgives and I forgive you.

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Thank you for pardon me

Yeah, of course they have to adapt immediately if they want to save their business. People change to the cryptocurrencies because we sick of the complicated financial system by the bank

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Bank of America cited various aspects in their recent fiscal report. Key among the issues is the widespread acceptance of cryptocurrency in the business world, because the widespread adoption of cryptocurrency could lead to the loss of clients in the future - Bank Of America: Cryptocurrencies Pose A Threat To The Banking Industry:

"Clients may prefer to do business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies"

"Emerging technologies like cryptocurrencies is making it hard for us to track the movement of money. For us to conform to these laws requires us to enhance our capacity for detection and reporting capabilities as well as the oversight modalities"

Resteemed+upvoted

That would be hilarious is BofA came out with their own BofA coin and made exchangeable for Fedcoins? Would you buy that garbage?

nice one

I think majority of governments will be worried to see some parallel currency in trade that can be minted (mined,POS/POW etc) by an individual.

I agree that banks and credit card companies are horrified with the popularity of cryptocurrency.
https://steemit.com/cryptocurrency/@sumanpuja/banks-and-credit-card-companies-are-horrified-with-cryptocurrency-popularity

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true!

beu jai jai loem ka share beurita lagee nyan beh.

The blockchain is building the grave of the centralized banking system that has enslaved all of humanity! :D

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Will work for $BD/$teem. Central Banking using a fiat currency whitch also employs Fractional Reserve Banking practices is the lynch pin that holds their fake, fraudulent & fixed system in place. If we take the issuance of currency away, they'll not be able to sustain their fraud & will implode! Will wirk for $teem...discounts for paying in $BD.

Good to see the status quo being shaken up. Way to make good use of JB's studio. I'm optimistic about the potential for a decentralized world with abundance and liberty for all who desire it. Cheers!

“In order to change an existing paradigm you do not struggle to try and change the problematic model. You create a new model and make the old one obsolete.”

― R. Buckminster Fuller

WeAreCrypto!!

very informative post

Cant Stop Us! Bitcoin & Crypto getting faster and cheaper by the month!

Great show!!

The banks are scared to death, they know we don't need them, and we have to fight for the liberty that they rob us since yesteryears.

Crypto is going to change on how we make business with person to person, no banks (middle man) is involved.

Bank of America scared? great news!

Luke good to see you here on DTube!

Banks are not scared of Crypto. Banks are scared of the people that HODL‼️ Think about it🤓 95% of all the people in crypto, want their cryptocurrency (coin) to MOON🤦🏾‍♂️🚀 So they can sell their crypto for fiat and HODL it in banks 🤯🤯🤯

We are living in a demonic world run by tares and wolves, why would they want us to break free of their tyrannical monetary systems. Crypto is a definite threat to the Global elite 'people'

Great post, thanks for sharing.

Follow me @thunderland

Hello :)
nice article you have here.Check out my articles.

Yes... All banks hate Cryptocurrency. Between 2016-2017 I've lost 6 bank accounts included 2 business accounts also. Till now one of the bank put my name on fraud black list (even Ombudsman didn't help me and stood by the the side of the bank of course!!!!)... And everything was after I begun to trade btc.
However even now I think all Cryptocurrency is the best allocation money ever.
Btw... Couple days ago I read somewhere an article how the Polish National Bank (read Rotschild Polish Bank) paid $30k some guy to put FUD news on youtube to scare people about trading btc!!!! And when I checked how many views he had it was so many!!!!
So I see banks will be pain in our arse still :(
You can check this info here:
https://www.google.co.uk/amp/s/amp.reddit.com/r/Bitcoin/comments/7ykxex/polish_youtuber_was_paid_30_000_by_polish_bank_to/
And about how the banks ripped me off you will read shortly on my blog @plinglish

Hello. I liked your post, keep it up. Good luck to you and have a nice day :)

Thanks for the great article and the video.
Your title says it all in my opinion. The banks are scared of Crypto and the "gravy train that they have been riding for so many years.
Let us create a loud voice for more people to join Steemit.
Thanks
dubloon135

A failure to yield our possessions. …if there is something you own which you can’t give away, you don’t own it, it owns you!Matthew 25:21…If God doesn’t get your attention on the ‘one-talent’ propositions in life, you’ll never get a chance at the ten talent ones! Our sinful nature…”All we, like sheep, have gone astray, each of us has turned to his own way” (Isaiah The ‘self-made man’ usually worships his creator…self!

If the bank behaviour will be "i am the only one and you are shit" or "if bank need somethig it is super priority, and if people need somethig it is nothig" banks never survive crypto currency

Dude, please use a segwit address to receive donations ! Come on !

Nice information...i liked it

Mind Blowing stuff & encouraging!

When a third party like banks are no longer needed to handle the transactions, what good is left for them?

Those are really good news. Thank you for the information.

Banks don't even get it yet. Game over. They are disrupted. They will be out of business.reak háh.jpg

cryptocurrency is the future,but i don't think they can replace banks because not every one is enlightened about electronic wallet. perhaps people gets scared of crypto because of its unstable nature, people consider them as scam

they can't stop it, just a matter of time!!!

cheers
@marsell

Well done, gentlemen! I agree with you Luke, consistency counts!

We should all increase our knowledge about cryptocurrencies. It may be the main thing in the future.

The middleman always gets scared, when they know their time is up and they're about to be cut the fuck out! imagethis is only the beginning of something bigger than we can currently imagine!! Great post!!

Scare mongering will effect the people who are still fearful of the government and banking system. People today have turned there back on the broken ways and are awakening to the idea the power is entirely in there hands. Believe is all you gotta do.

awww yeaaahhh

Cryptos and precious metals : D

The king is dead! Long live the King!
The economic structure of the world is changing with these words.
This will come, the banks will be forced to adapt!

Banks own all the biggest buildings in town. We are going to enjoy living there when we take their job. Lol

I like to read every post you...Upvote and follow you!

So true, reason why it's decentralized. Banks and the government be reaping us off for long.

Every problem has a solution. Here's a simple one. Stop using these too big to fail banks!!! Use credit unions limitedly and invest wisely. Cheers ;-)

I like to read every post you...Upvote and follow you!

Great job hopefully cryptocurrencies survive so we call can benefit instead of a couple old heads in power.

good information @lukewearechange .. i totally comply with your article ..anything growing in popularity in a system will pose as a threat to the other .

Very enjoyable look, and good info :)
i give 100% upvote

Of course Mr @lukewearechange. The banks have everything to fear like kings and queens during the French Revolution.. Shoutout to the awesome interview. definitely resteem this one..

  ·  last year (edited)

I feel that as soon as many crypto enthusiasts begin to see cryptocurrencies for what they are, a revolution in which we live, and not just a means to make quick cash, it has the opportunity to become a stable form of alternative means of exhange.

😥

Cryptocurrency opened my mind to trade.. and the banks are to blame for this.. a form of financial oppression to keep us dependant on their function.

our time is now! :)

Let us all vote and resteem each other’s work so that we can create more steem.(in billy Graham’s voice) but seriously nice post, I’m coming back when I get more v power

hey, Lukewearachange must say way up. am going to follow you I find your post very interesting.

The only thing that is permanent is change. Crypto may be some form of disruptive technology for the banking world.

You still have a long way to go, young people. But you will change the world.

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Hey Luke who did 9/11 again❓And if you can’t answer that question then why should we fallow you ❓The channel SHILL STOPPERS seems to have a very compelling argument that your nothing but a shill ❓Anyone considering themselves a TRUTHER and doesn’t mention TULMUD JEWS , ISRAEL , and THE MOSSAD is LYING ‼️ And before any of you call me anti Semitic know that I only believe in REAL JEWS = TORAH and ORTHODOX JEWS are the ORIGINAL JEWS THAT WALKED WITH JESUS CHRIST . TULMUD JEWS are the descendants of PHARISEES JEWS who ordered the murdered JESUS CHRIST . BE EDUCATED and don’t fall for devising agendas. How about the attack on the LIBERTY ❓Anyone on this channel wanna answer that question ❓Mr SIGURDSON be very careful sir , if you don’t interview someone like KEN O’KEIFE and ex marine veteran truther then your a SHILL . You have 48 hours to explain and then I start a channel opposing you . I take the INVASION and INFILTRATION of my REPUBLIC VERY SERIOUSLY SIR . I will not play games with you . This government is without any doubt COMPLICIT . If not completely guilty of mass MURDER . And I will not stand by and watch her be destroyed . DO SOMETHING because doing nothing is not an option.

Upcoming decentralized cryptocurreny
👇🏻👇🏻👇🏻👇🏻
Join crypto official group
https://t.me/joinchat/G1lEvxMIg-PLfKxPEbpIbg

Congratulations @lukewearechange!
Your post was mentioned in the Steemit Hit Parade in the following category:

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cryptocurrencies gonna be around here a lot longer than fiat currency.
Independent banking is future.

Great episode! The bankster bastards are on the run, and I'm enjoying the show :)

The media will always be trying to manipulate the people according to their interests which is really sad.

Congratulations @lukewearechange, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 331 and the total pending payments to posts in this category was $7831.24. To see the full list of highest paid posts across all accounts categories, click here.

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They should get them selves some long wait coins to give to their customers as compensation for the delay the cause in sending money world wide.

I love a Long Wait

Bill gates commented on this We Are Change postEC0CF8C1-BDD2-49A2-97AF-75CCB1693336.png

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Yes

Banks Are Terrified of Cryptocurrencies

No shit. Look at the Venezuela operation on cripto
https://www.corbettreport.com/venezuelas-new-cryptocurrency-is-a-scam/

I also think that banks are horrified with the cryptocurrency and it is also observed in education, Why in educaction nobody talk about it? I think many governments are horrified with cryptucurrency too.

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 182.96 SBD, based on the pending payout at the time the data was extracted.

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@lukewearechange The same event occurred in my country. Government bans for similar reasons. We search cryptocurrency so not the spirit.

How we deal with it ?

Since cryptos operate in a peer to peer network without the involvement of third parties like banks, they are viewed as an imminent threat to the existing banking enterprise.

Wherever the banks do not weep - where it's seen, the last time you make a contribution to the bank, it still has to pay for its storage - LOL
They will not only cry, but will try to bite you.
Freedom to all cryptocurrencies!

Keep Steeming! Great content. And don't forget to check us out for exclusive sports content :)

The fact that institutions have been forced to take cryptocurrencies seriously, even if it was a bit late, is probably a long-term positive impact.

This gives legitimacy to the crypto market, and even in spite of the best efforts of the regulators, it would seem that it can not kill the whole thing. Regulations have always had a positive side, and if it is achieved, the market could stabilize and be less volatile.

Greetings from Venezuela.

I think it's more likely that banks adapt to the technology instead of staying away from it and watching it grow and hurt their bottom line. It makes coins like Ripple interesting, because they are looking to be the top crypto to integrate into banks.

Nice one

They all know that Cryptocurrency investors will rule the world in the next decades, they can keep frustrating the huge potentials of the crypto market but they cannot stop it from growing

As a conservative Canadian, I wrote a post on control, you might find interesting.

https://steemit.com/business/@remotediscovery/where-i-stand-on-gun-control-a-canadians-perspective

@lukewearechange
please vote my news

I wonder if there will come a time that banks, instead of being scared, will learn to adapt? This might be idealistic thinking I know but it would make things better for everyone in the end!

Steemit is the future