Quote from: Wookii on February 08, 2018, 09:06:58 AM

Quote from: thr3 on February 08, 2018, 08:40:54 AM

1. Biggest patent holder in the US for blockchain technology - BankOfAmerica
2. JP Morgan/Goldman Sachs has cryptotrading subsidiaries
3. Whales control the market in crypto - yes, the are also market makers
4. Money is flowing out of Wall Street and into Mainstreet through crypto
5. Banks do not and cannot control money flow or crypto (this is their biggest concern and also their biggest loss of profit)

If you were a bank in charge of creating money, but now you are slowly losing the power to make money to crypto, wouldn't you say the same thing?

So you point is: Fear right? But at the same time, they are making big money out of crypto too right now. So combination of fear and income? But is that not contraproductive? They risk big depression by their FUD, which could lead to big loss if they are already involved in the crypto (and i know they are)...

The opinion isn't a consensus- I spend a lot of time in FiDi in NYC (and near Bank in London)- a lot of them individually see a lot of gains to it. But there are a number who are worried by Crypto- because it cuts them out entirely, especially trading desks who make their money gambling with their clients money and taking a % cut win, lose or draw. It's in their interest to talk down the market and hurt clients who 'didn't give them all their money' so they realise their lack of sophistication and give their account manager the money instead. What they're doing when they go and do the talking heads piece is something they are expressing forbidden doing with any other asset class- because of insider trading rules. But, Crypto isn't regulated, so it's a free for all for their darker instincts.

It's not really fear- it's trying to strangle a baby in it's crib, and worse, a lot of them are buying crypto on the side.