Topic: Big Bankers Say Cryptocurrencies Do Not Threat The Global Financial Stability - page 4. (Read 17104 times)

Regardless of the economic system that is in place in a country any government is always going to want to have more control over their citizens and what better way to control your citizens than to control their money, if you can do that then you can easily silence any opponents to your regimen as you could always steal their money away and not allow them to function in the society, but bitcoin has the potential to put a stop to those plans and they do not like that one bit.

The ideal form of the economic system should be like a pencil, the edges are pointed but the middle to bottom flat. As we know that the world economy is shaped like a pyramid, and the severity at this time, the base of the pyramid is wide, narrowed in the middle and sharply pointed high upwards.

The capitalists came to power because they had originally been the winners and the winners had taken everything. In addition, they use the power of the state to perpetuate their wealth. That strategy is used by capitalists at the top of the pyramid, and the capitalists at the top of this pyramid are solid and consolidated (little, small, compact) individually they are the rulers of the inverted pyramid. The system used by them is a bank. Banks plunder the savings of the poor, collected in all regions and used for the business community, business loans are usually higher interest rates than loans for corporations.

We can challenge the capitalist system in a way

- Don't put our money in the bank because the money we save in the bank will be used to enrich capitalism.
- Consolidation of the lower class economy (consolidated bottom of the pyramid). That is to consolidate the economy in the lower classes which in essence supports each other between the classes down. The aim is to divert the velocity of money from the capitalists to the lower classes.

Banker try to keep their member always save money in the bank and never give chance for other currency investment try to get their member and why big banker give bad opinion with bitcoin and claim bitcoin is not good global financial stability, although fact bitcoin can increase people money value than keep saving money in the bank have inflation values.

It's not about socialism vs capitalism, it's about the people vs the state and the users vs centralized services. I've seen Bitcoin being criticized by both the wealthy elites and by socialist commenters, but inherently both arguments were the same - they were against Bitcoin's freedom, because it undermines centralized power.  Most of the people in the world still have the authoritarian mindset - they want the government to fix all their problems, instead of looking for solutions based on peaceful cooperation.

They can't just stop from being a slave of the capitalists, how would they feed theirselves and their family. Only the rich are able to and they are just few, by the way they did'n have a slight chance to have a revolution, they are contented on what life they have. Worst is they even see crypto as a threat to their wealth. Interested people that wants a change are only a few, I include myself. The people who suffered great lost from the capitalist world, they want change too, and one day maybe the change we want isn't unreachable anymore through crypto.

Members of G20 group of nations' central bamk governors and ministers  had a meeting about it in fukoka Japan, and their discussion touched cryptocurrency space, economoc growth and financial stability. Financial leaders aimed to align anti-money laundering and discussed counter the funding of terrorism so that money won't be used for any ill intended activities. In this meeting they've also discussed that cryptocurrency doesn't affect or not even stand as a threat, in the contrary they even see that it has a great potential. They even admitted that technological innovations like these that underlies to the crypto aasets can deliver financial benefits to the financial stability system. They even brought up the concerns about the loss of funds of some users of crypto due to hacking and urged the FSB to work on enhancing cyber resilence.

They care about the things that is why banks influencing governments to restrict the usage of crypto and asking for complete ban but still the debate is going on many countries.If they thought cryptos won't threat the world's banking sector then why they were doing those to crypto currencies.

It is not a threat to them because they know that many people that are using cryptocurrency now are using it as digital asset and yet to be using it for payment and when it comes to the use of it as digital asset, we all know that in the end of the whole thing, people don’t keep the coin in the wallet, but rather, they change it to fiat and still keep it in the traditional banking system, so even the money they pull put off the bank into the cryptocurrency is being returned back to the bank with so much profit on it and thereby giving the bank more money to do the business that they like, but the day that bitcoin will start being used as currency is the time that banks will start feeling it as many people, will prefer to keep their money in their own personal wallet.

Big banker said crypto do not threaten their big fat wallet full of cash. Billions dollar in cryptos market cap is child play compare to trillions dollar they have amassed, they don’t even need to take any action yet, not until crypto slowly put some dent into their stronghold.

Let's admit it, major fiat currencies are pretty solid (as in rock-solid)

I mean currencies like the US dollar, Euro, Swiss frank, maybe a couple others. Indeed, they are all strictly inflationary in the long term, but the inflation rates in the range of 2-3% yearly are quite bearable and don't make a lot of difference within the timespan of a few years

Things are quite different with the rest of the bunch but as long as you can save your money in these "hard" currencies (by diversifying your cash portfolio), you can consider yourself more or less protected. The point is, whether Bitcoin will be a safe haven in case of a global financial meltdown remains an entirely open question

But what we almost realize is that cryptos can't overcome its drawbacks because over the years, the government has spent a lot of time exploring and understanding that crypto is a system that includes these special features, destruction or containment is impossible. Fortunately, crypto has only grown within a relative range that does not exceed government limits, people only know how to use it for investing, rarely applied to real life when usefulness is not popular and inappropriate, so the bank does not feel the threat is certain when it is just an investment project for some people, not at a global level.

I almost choked myself up with water when I've heard the word "stability" from banks, I mean, really? that's the funniest joke I've ever heard if they are going to tell it's a joke instead of acting like a tough one against cryptocurrencies. I didn't know that stability means getting killed with inflations or by their monetary policies that lets them do whatever they want from their own currency.

I know this big banks are shaking up inside but pretending nothing is happening in their business for people not to panic and continue to support their "Scheme" by stealing people's money secretly.

Yes it is, cryptocurrency is not yet used worldwide, there still some problems that it is needed to be fix so that the whole world can adopt it, but the thing is it is not really a threat to bank, economy and financial stability of a country not unless it will be legalized and accepted as one of the major currency in every country, until it is not yet legal then it could not be a threat.

we have entered the era of digitalization, so now the government should think about it more deeply,
I like China, Japan and Korea, even Singapore, they are all developed countries and support this technology, blockchain can change the world,
I don't believe that the US does not will support Bitcoin and its technology, hopefully the US government can realize that bitcoin is not a threat

It is not that much of a threat at the moment but maybe when the market volume of the cryptocurrencies would rise then it would be something massive that would influence greatly in the economy, industry and the welfare of the people.

First, they said obvious things, the share of bitcoin in a market economy is negligible compared to other financial giants. However, how much noise around this little bubble creates!
Even if Bitcoin threatened them in the most direct way, they would say one thing, that everything is okay, but acted in such a way as to take control or limit the influence of cryptocurrency, which they are now doing.

Virtual currencies aren't really a threat, in fact it portrays and could offer lots of benefits and advantages to the economy in terms of boosting it. Cryptocurrencies already saved some country's business men and investors from the crisis theat certain countries are going through such as  inflation, economic crisis and such. If there would be any threat that the government could see, that is the decentralization of some coins making them lose control over it, but the threat of replacing fiat with cryptos are not to be bothered about for there are lots of things the cryptocurrency should enhance.

OK I got a bit confused with what you're trying to say there but if you are agreeing, then thanks. In business you really have to anticipate big changes. That meant not just preparing for what competitors are trying to do but also what would happen in your industry. For example the Klaytn Governance Council had certain Asian banks as members. Wouldn't be surprising if banks were active in the formation of similar initiatives.

banks and crypto currencies everything that we cannot avoid if investing in crypto currencies because until now there are still many banks that refuse if crypto currencies can make banks experience something undesirable, of course they have made plans in anticipation of these problems

Not in the near future. Adoption is still quite low to make an impact on the economy. In the meantime, the banks are preparing for eventualities by researching blockchain that would allow them to be more efficient and that might help them retain customers.

Just now I was reading a thread about China's plan for its own crypto. Cryptos might just go mainstream in the form of government crypto.