Quote from: Jet Cash on August 04, 2018, 03:20:08 PM

Thanks for the replies.

I'm surprised that nobody has mentioned that the increasing involvement of the banking elite may not be good for Bitcoin, and may be an attempt to move it away from being a peer-to-peer instrument.

The original idea was to provide a stable method of transferring funds between individuals, and not require the involvement of the banks, If you wanted to save 'money' you didn't need to do anything, you just left your coins on the blockchain. All of the problems derive from the banking type services that have spawned to take advantage of the Bitcoin concept, ETFs and other financial instruments provide bankers with a means to manipulate the price of Bitcoin, and a means to remove Bitcoin from daily use in the crypto economy.

Banks are careless, they've proved that repeatedly.
If a bank loses 100000BTC the price of bitcoin will be pushed up as they will either: cause hyperinflation on their country which will push the price up internationally if it's a UK/US/EU bank; or cause the bitcoin price to boom as the bank buys up the 100000BTC it lost. Although this may also cause a lot more issues economically for certain countries so this should be predicted by any bank that wants to encourage this system.

Even safe deposit boxes have proven themselves to be unsafe (the gang who drilled about a metre into the side of a concrete wall in London a few years ago springs to mind) where they made off with millions of pounds of precious items.