Banks against the crypto - page 17. | Bitcointalksearch.org

Yamifoud

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Quote from: South Park on March 12, 2019, 04:12:25 PM

Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks will adjust, they are the most powerful institutions around the world and they are not going to accept their disappearance without a fight and when you take into account that most people do not really understand the economy, because if they did they would have never allow banks to grow that powerful, then it is possible that banks will deceive the public again and will remain in power by making people think that they need them when that is not the case anymore.

They might be losing their capability to dominate if they neglect to accept crypto in the future same thing as we store our fiat money or being as a third party. Though the purpose of crypto is not replacing fiat but to give us some options of what we have to used in a certain transactions.
But I'm sure banks will still remain even there is a mass adoption of crypto cause it is getting more safe to stored our money in banks rather than it stay in online wallets, it happens that people will convert cryptos into fiat money and stored in the banks.

South Park

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks will adjust, they are the most powerful institutions around the world and they are not going to accept their disappearance without a fight and when you take into account that most people do not really understand the economy, because if they did they would have never allow banks to grow that powerful, then it is possible that banks will deceive the public again and will remain in power by making people think that they need them when that is not the case anymore.

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Banks have massive power, not only economic power but also political power, as their top executives have contacts with most Governments and political parties of the world

Being realistic I don't think crypto will destroy the banking system in its current form BUT if we start gaining momentum with mass adoption and people start saving with Crypto instead of a banking account, we can start to take away the unlimited power banks hold right now.

We need to mature as a market and a space to get more people to save in crypto and really start creating a more decentralized economy and society.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

This has been a talk going on since crypto currencies came into place. Everything is just a business to each other. Number of investment and investors are slowly getting decreases towards the bank. But the other way round with crypto. This might be due to secured system crypto has? Lot more reasons behind.

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Quote from: MakeMoneyBtc on March 12, 2019, 07:26:07 AM

Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Do you really think everyone in this world would instantly change to bitcoin instead of using banks? Banks will remain at power for a very long time and it's very hard for cryptocurrencies to take lead or even compete with banks right now. So, banks will stay in the top because they are backed by the government and that's what most people are looking for.

Well i don't think we should be talking about current situations since obviously, crypto hasn't held much ground as fiat so far. And many banks ate aware that in time, crypto can actually be a challenge. Why do you think people like jamie dimon are too eager to shut down bitcoin with negative statements?

el kaka22

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Banks should not be "against" crypto if they could just understand what crypto is. Crypto currencies are not going against banks, it is going against the inequality between rich and poor. A banks whole purpose is to serve people in financial manners and if a bank starts to accept bitcoin for example it could both have cheaper transactions and have way of holding as much bitcoin as possible while their customers money is stored in them and could use it to further their profits just like how they do it with fiat currencies.

On the other hand, banks would like to get richer off poor peoples poverty to enrich themselves which is a wrong approach to what a bank should be but that is how it is which is why they are "against" it, not because crypto hurts banks but because crypto hurts their inequality.

okala

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The presence of cryptocurrency will not hinder the bank from operating because their both plays different roles in the financial sector, while the bank is the traditional financial system. Cryptocurrency on the other hand is a digital currency in the financial system but run on the blockchain.

MakeMoneyBtc

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Do you really think everyone in this world would instantly change to bitcoin instead of using banks? Banks will remain at power for a very long time and it's very hard for cryptocurrencies to take lead or even compete with banks right now. So, banks will stay in the top because they are backed by the government and that's what most people are looking for.

shield132

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I can't say that banks are against crypto. They are trying to implement it in their services and manage our "decentralized" coin at some point. What are exchangers? They are banks at some point. Bitcoin should be dedicated from fiat in reality if we want 100% new and independent currency but still we value things on our national currencies which is fiat in every world.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

I think decentralisation is the good for currency economy, But we need some regulation of cryptocurrency then only it will legalised in many countries. I hope crypto will rule the banking industry and Bitcoin adoption also spread in entire world.

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Quote from: Caladonian on March 12, 2019, 04:10:51 AM

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Just saw the JP Morgan, I couldn't help to think back what happen (I guess last year). In which JP morgan issue a statement that Bitcoin is a fraud which somehow affected the value of Bitcoin at the time. Though after the statement and the sudden fluctuated price, JP morgan took advantage of and bought Bitcoin. Hypocrisy at it's finest. Then now, JP Morgan is launching it's own coin, JPM Coin.

Generally speaking, Banks don't find Cryptos as investment. That's why they're against it, however, There's a much deeper reason to why they dislike it. Maybe Conflict of interest is a factor, who knows. Or maybe, They are not really against the cryptos itself but on the system. If crpytos are under centralized system then Banks won't have any issues with it.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Good example can be seen how JP morgan's act with this decentralization thing, knowing that the popularities are really emerging so instead of
competing they are now taking advantage keeping the business and allowing the system to work with them, taking away banking system can be
a tough job, replacing the actual finance system would be a long debates.

If they can live alongside there's no need thinking about replacement, better to learned and take the advantage from both venues.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Decentralized crypto payments will eads to the banks dissappaer.

But crypto to fiat trading won't let this to happen.

So it is in our hand to choose crypto currency as payment method or bump and bump coin to make money.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

i dont think cryptocurrencies can lead to the disappearance of banks. but when crypto becomes more popular it will be a big alternative power against banks. but i am sure that traditional banks will never end because there will be always people that prefer traditional ways.

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

In my opinion crypto cannot cause the loss of banks, even though we know that there is blockchain technology that can replace the bank position for crypto transactions but because the bank is used to deposit traders' money before they buy their crypto coins. so in my opinion the bank will continue to adjust and temporarily in power Grin

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks.

No, it's not gonna happen, banks are powerful, it's created by the richest in the world and back by the government.
They have been here even before so it's impossible it will be replace by crypto.

Quote from: Theentre on March 11, 2019, 12:41:30 PM

Or will banks be able to adjust and remain in power?

They will remain in power but I believe crypto will compete and they can co exist with each other.

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Yes because they are in loss too

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