9 Big Banks Taking The Blockchain!!

[Stan]

"Public Crypto" is just like "stock in public companies"

"Private Crypto" is just like "stock in private companies"

Both "types" of "property" are legal for Americans to own.  Why should Americans voluntarily give up their rights to owning stock in  public companies (which is what public crypto is)?  Why should participation in a public IPO land you in jail?  Weather its Facebook or Ethereum?

Why should it be illegal to feed someone indirectly by purchasing Jamie Dimon's JPM stock so his kids can attend college (and you attend jail)?

Because power tends to corrupt, and absolute power corrupts absolutely.

[giant middle finger]

urg...I honestly have this feeling too, to a degree.  Anything we can do to disintermediate their power structure should be done (barring violence, naturally).

No need.  Place a BTS ATM next to a Cyprus Bank ATM and don't feel sorry for those who choose to donate a percentage to the Banks.  The best thing we can do is blur the lines between public and private blockchains, so that they are never banned.  Max Keiser, for instance, keeps saying that banks are using "Bitcoin technology" instead of "blockchain technology".  See?

[Empirical1.2]

Sooooo... that happened:

http://www.engadget.com/2015/09/16/big-banks-want-to-adopt-bitcoin-blockchain/

While I know for some here this is a signal that the sky is falling.. but remember. .these are banks.. and they will take forever to actually move on this. By then we will likely be well into the markets before they are even finished just looking.

Your thoughts on this?

Meh it's expected.

I don't  think Identabit will scale well because the big doors will be locked, also on the technology side they will have nothing that can't be replicated

Besides traditional competitive advantages, you can be certain that the legacy financial system will join ranks and close critical doors on outsiders.

Rather than allowing themselves to be dis-intermediated, they will then also enact laws that make their competitors either illegal or drown them in regulatory burden to make sure they dominate traditional market share.

If you try play by their rules, in their rigged game, you will lose

The reason crypto-currencies not owned by the big banks have the potential to be massively profitable & scalable is precisely because the traditional institutions are largely excluded from directly participating in it.

Decentralised blockchains are designed to be very hard to shut down and globally accessible regardless of local regulation & they will have limited competition because large banks can't directly invest/compete in the informal economy. (Makes up 23% of Global GDP and will probably significantly expand after the coming global financial crisis.)

So BTS/BTC can make hay while the sun shines & still ultimately have a large potential market with limited competition regardless  = $$$ 

However a neutral currency not significantly owned by GS/JPM will have the hardest challenge, unless it first moves and generates enormous network effect, as banks will ultimately offer consumers most blockchain benefits excluding perhaps a volatile digital currency, which mainstream would only want if they were losing faith in their own. Ironically in that case, they would be restricted from purchasing it due to capital controls...

[fuzzy]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

Most handy!  Also, trust is the most important thing and they currently have none.  When they rewrite the rules of their network/s to maintain primacy/control, how will they establish trust? No trust, no network.

yes but the masses still use Banks that they can not trust.... don't compare the masses with yourself....

urg...I honestly have this feeling too, to a degree.  Anything we can do to disintermediate their power structure should be done (barring violence, naturally).

You would be surprised at how little trust remains amongst your sheep.  The trouble with the existing economic system is that there are no outs.  It is very hard for people to express dissatisfaction when there are no realistic alternatives.  If you give them a real choice, one that is easy to use, built on simple principals they can understand......well then, you watch the old paddock empty as the sheep grow wings and fly off.....

We are all guilty of unconsciously attempting to reduce our processing load, especially around the mundane.  In order to do that effectively you need to delegate trust.  Trust in people (often a bad idea,) information, systems.  Trust is and always will be everything unless you want to do everything yourself.  Trusted networks and participants will always drive out bad in a system were trust exists.....

Not so much a matter of trust as ease of use and humanity's proclivity for taking the simplest path.  By the very nature of centralized systems, they are more efficient and thus make it (generally) easier for the masses to use than less centralized institutions.  All most people think about is short to medium term...which is why softkill techniques are so powerful for governments.  This is the very reason why I believe we will likely not see a world war that looks anything like they used to.  Instead it will have a far stronger element of softkill (GMO's, Bio-Engineered pathogens, "Natural Disasters", undue taxation, Market Manipulation, Color Revolutions funded by people like George Soros...etc). 

I mean lets face it...who trust cigarette manufacturing companies?  But how many people smoke them anyway? 

[Ben Mason]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

Most handy!  Also, trust is the most important thing and they currently have none.  When they rewrite the rules of their network/s to maintain primacy/control, how will they establish trust? No trust, no network.

yes but the masses still use Banks that they can not trust.... don't compare the masses with yourself....

urg...I honestly have this feeling too, to a degree.  Anything we can do to disintermediate their power structure should be done (barring violence, naturally).

You would be surprised at how little trust remains amongst your sheep.  The trouble with the existing economic system is that there are no outs.  It is very hard for people to express dissatisfaction when there are no realistic alternatives.  If you give them a real choice, one that is easy to use, built on simple principals they can understand......well then, you watch the old paddock empty as the sheep grow wings and fly off.....

We are all guilty of unconsciously attempting to reduce our processing load, especially around the mundane.  In order to do that effectively you need to delegate trust.  Trust in people (often a bad idea,) information, systems.  Trust is and always will be everything unless you want to do everything yourself.  Trusted networks and participants will always drive out bad in a system were trust exists.....

[fuzzy]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

Most handy!  Also, trust is the most important thing and they currently have none.  When they rewrite the rules of their network/s to maintain primacy/control, how will they establish trust? No trust, no network.

yes but the masses still use Banks that they can not trust.... don't compare the masses with yourself....

urg...I honestly have this feeling too, to a degree.  Anything we can do to disintermediate their power structure should be done (barring violence, naturally).

[liondani]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

Most handy!  Also, trust is the most important thing and they currently have none.  When they rewrite the rules of their network/s to maintain primacy/control, how will they establish trust? No trust, no network.

yes but the masses still use Banks that they can not trust.... don't compare the masses with yourself....

[liondani]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

they just ignore CNX and work with ethereum etc.

[Ben Mason]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

Most handy!  Also, trust is the most important thing and they currently have none.  When they rewrite the rules of their network/s to maintain primacy/control, how will they establish trust? No trust, no network.

[cass]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

This!!!

[xeroc]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

See the beauty of the CNX licensing scheme now?

[liondani]

I am not optimistic.
I think they will use/fork all the work it is done by now (from the cryptoworld) and use it against us!
Whatever could be used for our freedom will ironically used to enslave us...

PS it will be easy for them to pay/buy the best dev's to work for them... but wait...they actually  working for them for free right now? (open source)

[kenCode]

Agreed.
 
"Let's see how many times we can say the word Blockychain and then people will give us their money again moohahahahahaaaa"

[BunkerChainLabs-DataSecurityNode]

Sooooo... that happened:

http://www.engadget.com/2015/09/16/big-banks-want-to-adopt-bitcoin-blockchain/

While I know for some here this is a signal that the sky is falling.. but remember. .these are banks.. and they will take forever to actually move on this. By then we will likely be well into the markets before they are even finished just looking.

Your thoughts on this?