CHAPTER 9
9-3 Bitcoin
9-3a Bitcoin some statements
“March 2 Flexcoin was attacked and robbed of all coins in his ‘hot wallet’. Bitcoin Bank Flexcoin
closes after hackers attack.”
“Bank admits that they do not have the resources to cover the loss of 896 stolen bitcoins
with a value of £ 365,000.”
“Banks Block (Again) Bitcoin Purchases.”
“You can now buy and sell Bitcoin by opening an account at a US bank October 26, 2012”
“HONG KONG - During the day, David Shin is an investment banker at a major financial institution.
At night and in virtually every other spare minute, he became an entrepreneur looking to break into
Hong Kong growing Bitcoin scene.”
“The London Bitcoin Bank - LBTC - working on the latest technologies to solve humanities, energy
needs and economic needs, the design of the future.”
“Bitcoin CEO found dead after ‘suicide’.”
“Bitcoin is digital money that is made as an alternative against currencies controlled nations and
banks. It is about getting a wider application which depends on both, governments in China as the
American fans who play with the existing rules.”
“Bitcoin exchanges, payment processors and other startups say, that there are banks needed to
connect to the existing payment system and take care of basic services such as checking accounts.
To do so the young companies need to use the supervisors, the banks. Bitcoins will not be used to
conceal illegal activities, they convince the police.”
9-3b Bitcoins join global banking network
“Designed to compete with fiat currency, as bitcoin claims, it is a crypto - currency alternative.
Bitcoin makes a number of false claims, including: Bitcoin is a reserve currency for banking;
hoarding is equal to saving, and that we should believe that bitcoin can expand by deflation and
supply to a global transactional currency. Bitcoin developers combine technical skill deployment
with lack of knowledge of the coin and banking fundamentals. This has resulted in a failed attempt
to change the funding. A series of recommendations to change the funding can be found in the
Nawoord:
- Investment / business banking for the masses;
- Bring back venture banking to what investment banks once were; Open - protest exchange for all
CDS contracts;
- Trying to develop CDS contracts of the type of investment in new and existing businesses;
- And improve the connection between startup tech / ideas, organization and investment. “
m.quotenet.nl
Bitcoin pretends to be an independent currency but anything but that is true. Bitcoin is a disguised new bank
that is very easy to crack and where the great of the greats are behind. By the new trend and people who know
that conventional banks will fold, one knows in a devious way to convince you, the ‘runaways’, that there is an
alternative.”
The idea is shaky, given the robbery that has been there before, and also the power that the banking industry
has by not doing business with Bitcoin, makes a lot clear. If we really wish to secure things, then do what the
masters in the world of finance do: invest in metals and precious stones, they keep their value, not a computer
zero and one!
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