No. NO. NO!
Banks are not involved in bitcoin. Banks don't like bitcoin. They can't make money on transaction fees, They legally can't hold it. Why would anyone put bitcoin in a bank except to get interest? There is not interest on deposits right now for regular money. In fact, the low interest rates makes bitcoin more viable since you can't earn significant interest by depositing normal money in the bank right now so no one cares that they don't get interest on their bitcoin and leave it in bitcoin instead of exchanging it for local currency they could deposit and earn interest. Several bitcoin start up companies have had banks refuse to do business with them because the banks see them as competitors even though they have piles of cash from venture capitalists.
Banks will have no interest in bitcoin until they figure out how to make money from it. Then they will start lobbying for laws to be changed so they can use it. Until then they will either ignore it, or try to fight it. Once the realize they can't really stop it if people want it, they may try to propagandize and shake people's faith in it. But make no mistake, they don't want it to exist. It exists outside their system, they can't make money on anything outside their system. If many people start using it, they lose money.
That's OK right now since the Fed is printing money and giving it to the banks at 0% interest and they can make money with free money. It's easy when you get free money you can loan it out at even low interest rates and make a fortune. Of course it's the taxpayers and people holding cash that get screwed at some point in that scenario. But by the time the shit hits the fan, someone else will be in office to take all the blame, so who cares! Democrats have been doing that to republicans for ages, why stop now! when the adults finally show up to clean up the mess you can blame it all on them since it supposedly happened under their watch, never mind the seeds were already planted. Happens constantly, the housing bubble was just the most recent example. Carter passes laws that force banks to make home loans to people that can't possibly pay them back. Clinton puts that program on steroids so the banks try to come up with a way to do what the law forces them to do without losing their shirts, they come up with packaging the loans up in the thousands and selling them to wall street. Bush tried 11 times to roll back the programs but the Dems and the media all call him mean and say he want to hurt the poor and that he's a racist etc. When in reality he was trying to protect those people from taking out loans they couldn't possibly afford. Then when it all collapses, it's Bush's fault. This is exactly why we need bitcoin! We must get the monetary supply out of government hands!
Must go to bed now.. G'night and don't belive everything you hear in the main stream media!
Korxax
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Bitcon -- cash for the 21st century!
I hate to beg... but...
Looking for donations for a poor disabled guy to get a mining rig. Long sad story that boils down to Cluster headaches- think a day long migraine packed into a half hour to 2 hours and repeat up to 10 times a day. And my insurance company screwed me over to the tune of $50k when I had a plumbing problem flood my house, destroyed tons of my stuff including several computers. Total loss, about $50k Beware the red umbrella. Any little bit of help is greatly appreciated. I have fairly low power rates... so if you have an old miner that you want to donate I would be very grateful. Contact me and I'll get you an address.
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