Topic: Banks VS Crytpo; The Good, Bad & Ugly of the Current Banking World. (Read 127 times)
Banks and governments control the financial system for centuries and they will not just give up. As cryptocurrencies are the opposite of fiat money, the financial world sees this as a threat and will try to eliminate it. They can't allow a decentralized system taking over. With regulations they will try to make cryptocurrencies centralized.
April 30, 2018, 03:07:33 PM
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Kind of but I don't think it is all doom and gloom for the banks. They have already been established for a couple hundred years which gives them a huge advantage. Despite the fact I think Bitcoin will be adopted at a grand level, I still don't see a way to move forward without banks. I doubt everybody in the older generation will give them up and it will take 50 years and above to eradicate them slowly from society I feel like.
Blockchain and bitcoin is a kind of danger for banks, but not for their whole business. Bitcoin or the other cryptos now only makes competition to the wire transfers of banks, so banks won't go bankrupt because of bitcoin or cryptos on the short run. E.g. Paypal is a huge organization and it's a kind of older one, it also a competitor of the international wire transfers but banks are still happy and healthy (from this point of view) so as long as cryptos won't make competition for the other services of the banks, it won't make them serious headache on the short run Kind of but I don't think it is all doom and gloom for the banks. They have already been established for a couple hundred years which gives them a huge advantage. Despite the fact I think Bitcoin will be adopted at a grand level, I still don't see a way to move forward without banks. I doubt everybody in the older generation will give them up and it will take 50 years and above to eradicate them slowly from society I feel like.
April 30, 2018, 12:39:49 PM
As we all know that Bitcoin is based on the blockchain technology which relies on the principle of decentralization. It takes away power from the centralized authorities like the governments and banks and transfers it to the users. If banks could not optimize their services as compared to that of blockchain based currencies then it will be the issue of survival for them and hence such centralized authorities are attacking Bitcoin and other cryptocurrencies out there.
Kind of but I don't think it is all doom and gloom for the banks. They have already been established for a couple hundred years which gives them a huge advantage. Despite the fact I think Bitcoin will be adopted at a grand level, I still don't see a way to move forward without banks. I doubt everybody in the older generation will give them up and it will take 50 years and above to eradicate them slowly from society I feel like. 
April 30, 2018, 12:39:27 PM
error of first paragraph
it did not start with seashells
it started with goods barter
1 caveman axe for 1 cavemans daughter of adequate age
then
10 loaves of bread for 1 horse shoe
sea shells were not a currency used at the coast because seashells were abundant
it was not a world wide trade thing and was not something that was wid spread. basically sea shells were only used by certain clans (villages)
however.. where barter did turn into 'coin' was done here
it did not start with seashells
it started with goods barter
1 caveman axe for 1 cavemans daughter of adequate age
then
10 loaves of bread for 1 horse shoe
sea shells were not a currency used at the coast because seashells were abundant
it was not a world wide trade thing and was not something that was wid spread. basically sea shells were only used by certain clans (villages)
however.. where barter did turn into 'coin' was done here
Quote
Asian Cutlery
Sometime around 1,100 B.C., the Chinese moved from using actual tools and weapons as a medium of exchange to using miniature replicas of the same tools cast in bronze. Nobody wants to reach into their pocket and impale their hand on a sharp arrow so, over time, these tiny daggers, spades and hoes were abandoned for the less prickly shape of a circle, which became some of the first coins. Although China was the first country to use recognizable coins, the first minted coins were created not too far away in Lydia (now western Turkey).
Read more: The History Of Money: From Barter To Banknotes https://www.investopedia.com/articles/07/roots_of_money.asp#ixzz5EB5krSDc
Sometime around 1,100 B.C., the Chinese moved from using actual tools and weapons as a medium of exchange to using miniature replicas of the same tools cast in bronze. Nobody wants to reach into their pocket and impale their hand on a sharp arrow so, over time, these tiny daggers, spades and hoes were abandoned for the less prickly shape of a circle, which became some of the first coins. Although China was the first country to use recognizable coins, the first minted coins were created not too far away in Lydia (now western Turkey).
Read more: The History Of Money: From Barter To Banknotes https://www.investopedia.com/articles/07/roots_of_money.asp#ixzz5EB5krSDc
April 30, 2018, 12:20:25 PM
As we all know that Bitcoin is based on the blockchain technology which relies on the principle of decentralization. It takes away power from the centralized authorities like the governments and banks and transfers it to the users. If banks could not optimize their services as compared to that of blockchain based currencies then it will be the issue of survival for them and hence such centralized authorities are attacking Bitcoin and other cryptocurrencies out there.
March 23, 2018, 05:22:22 AM
Cryptocurrencies offer an attractive alternative to the conventional economy and monetary policies implemented by public institutions and central banks: they are transparent.
Let’s face it, there is only a handful of government officials controlling the world money supply.
full article: https://tropyc.co/pages/bank-monetary-policy
What did you think of our review?
https://i.imgur.com/auWSjhj.jpg
Let’s face it, there is only a handful of government officials controlling the world money supply.
- The Good: money facilitates trade
- The Bad: governments control the total supply of currencies
- The ugly: “Too big to fail” banks
- Cryptocurrencies: a hedging opportunity against the banking world
full article: https://tropyc.co/pages/bank-monetary-policy
What did you think of our review?
https://i.imgur.com/auWSjhj.jpg
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