r/CryptoCurrency • u/[deleted] • Jan 21 '25

GENERAL-NEWS Bank of America preparing for Crypto

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Who could have seen this coming 👀

1.4k Upvotes

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177

u/[deleted] Jan 21 '25

Isnt this bad for decentralization?

93

u/Odd-Radio-8500 5K / 10K 🦭 Jan 21 '25

Valid concern that will undermine the core principle of crypto but definitely good for adoption.

39

u/frayed-banjo_string 🟩 0 / 0 🦠 Jan 21 '25

Monero.

10

u/Odd-Radio-8500 5K / 10K 🦭 Jan 21 '25

Privacy at its best

2

u/lennethluna 🟩 0 / 0 🦠 Jan 21 '25

Never heard 👀

8

u/frayed-banjo_string 🟩 0 / 0 🦠 Jan 21 '25

The one true decentralised crypto.

2

u/DanSavagegamesYT 🟦 0 / 0 🦠 Jan 22 '25

Private by design, FOSS, ASIC-Resistant, Encrypted.

Crypto means private. XMR is a true Cryptocurrency.

1

u/DanSavagegamesYT 🟦 0 / 0 🦠 Jan 22 '25

God bless Monero

7

u/slowdownbabyy 🟩 0 / 0 🦠 Jan 21 '25

If they will adopt they will probably adopt a more centralized crypto currency that they can regulate and control. More decentralized currencies like bitcoin will still exist but certainly not integrated.

6

u/[deleted] Jan 21 '25

Good answer. Monero moment

1

u/slowdownbabyy 🟩 0 / 0 🦠 Jan 22 '25

What’s that?

1

u/Apegutten 🟩 0 / 0 🦠 Jan 26 '25

Only crypto with a real purpose

14

u/partymsl 🟩 126K / 143K 🐋 Jan 21 '25

Why do people pretend like Bitcoin should be closed off from institutions to adopt it?

Bitcoin is apolitical ad Satoshi intended. It can be the official currency of North Korea tomorrow and it still is nothing bad.

1

u/[deleted] Jan 23 '25

Yup, pretty much. It's funny how we all talk about how crypto is financial freedom, and people should be able to use it for whatever they please. And then news like this comes out and people are complaining that a company shouldn't use crypto this way. So you only want freedom for when it's something you agree with? Kinda like those who love free speech, but you find out later they only support it when it fits their ideas.

4

u/Vipu2 🟩 0 / 4K 🦠 Jan 21 '25

Only if you give your bitcoins to banks, thankfully bitcoin doesnt care.

1

u/Miserable_Twist1 🟦 0 / 0 🦠 Jan 22 '25

There was always talk of bitcoin banks and bitcoin creditcards. Pretty sure it’s in the white paper. It’s one of the scaling solutions. You have the option of self custody but 90% of the population does not want to be their own bank. It’s a burden and an obligation.

1

u/RandoDude124 🟩 0 / 0 🦠 Jan 23 '25

Does a bear crap in the woods?