How Banks Are Trying To Discredit Bitcoin
It’s no coincidence that as the greatest threat to banking, Bitcoin is constantly under fire from the industry and its beneficiaries.Each year, Bitcoin continues to grow in stature. Bitcoin is going mainstream by every metric — financial value, adoption rates, transaction volume, you name it. But not everyone’s happy Bitcoin adoption is growing. In particular, the banking industry feels threatened by bitcoin’s rise and continues to wage war on the cryptocurrency. That banks don’t like Bitcoin shouldn’t be a surprise. Satoshi Nakamoto’s invention is the greatest disruption to the age-old....
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A recent report on one of the Italian media outlets tries to discredit Bitcoin by stating outdated information. Bitcoin is a revolutionary cryptocurrency that has the potential to create an efficient global economic system. But these changes won’t come easy. For Bitcoin to create a new economic order, it has to deal with few enemies in the form of governments and mainstream media. The mainstream media has deviated from its core principles and fails to be objective in their reporting. The reporting on these outlets are either designed to gain more readership or to further the agenda of....
This particular Ponzi Scheme in Vietnam will give Bitcoin a bad reputation in the country. Cryptocurrency is not regulated by the banks, and the local government is not too keen on Bitcoin either. Ever since the inception of Bitcoin, there have been individuals and companies trying to discredit cryptocurrency. Some of them even go as far as setting up deliberate Ponzi Schemes to defraud Bitcoin investors. Such a scheme seems to be on the brink of collapse in Vietnam. Hundreds of people have been burned by this pyramid scheme, which seemed to rely on an MLM structure. It is not the first....
The debate over Bitcoin’s future relationship with the banking system has come a long way in the last year. In 2014, the discussion was speculative for the most part, as major banks had not yet weighed in on the digital currency. However, in the first half of 2015, banks began taking more interest in Bitcoin. More specifically, several banks have been....
How do you discredit someone when everything about them is already public knowledge? There isn't much one can do in such circumstances except stressing upon the faults and wrongdoings of the person and convincing people that he or she could have handled it in a better way. It looks like that's what Skandinaviska Enskilda Banken (SEB), the third largest bank in Sweden is trying to do. Bitcoin happens to be the target in this veiled campaign against it. The Skandinaviska Enskilda Banke (SEB) has recently taken out an advertisement space in one of the Swedish daily to run an article about....
The European Banking Authority (EBA) published today the results of the 2014 European Union (EU)-wide stress test of 123 banks. The health check was carried out on 123 European banks by the EBA to determine whether they could withstand another financial crisis. The results: over the three-year horizon of the exercise, 24 banks would fail the stress test - in other words, they could not withstand another financial crisis. 14 of these banks are in the Eurozone. The list of 14 includes four Italian banks, two Greek banks, two Belgian banks and two Slovenian banks. Nine Italian banks have....