Well, I have to say I agree with that.
Cryptocurrencies are still not regulated in majority of countries and not introduced into economy and financial system. Don't also forget that relatively small number of people is using cryptocurrencies and the volume of funds isn't big. Also, many people are just holding their coins instead of placing them in real world so I can't see how all this together could influence the economic stability.
Topic: Big Bankers Say Cryptocurrencies Do Not Threat The Global Financial Stability - page 5. (Read 17104 times)
November 04, 2019, 10:15:02 AM
November 04, 2019, 07:28:37 AM
If we will base it today then it is true that cryptocurrencies do not have any threat for the global financial stability because the big banks and the governments still control the majority of the flow of economy. All of the big establishments and companies are registered and regulated under the government and because of that, government is still dominant here.
the country's economic system which is regulated by the government must have analyzed and studied the system used by the crypto currency and the possibility of the government has made a system to anticipate the development of crypto currencies and the consequences that would have been obtained by the country's economy if it had indeed threatened had of course been removed November 04, 2019, 12:13:11 AM
If we will base it today then it is true that cryptocurrencies do not have any threat for the global financial stability because the big banks and the governments still control the majority of the flow of economy. All of the big establishments and companies are registered and regulated under the government and because of that, government is still dominant here.
But I see your point is focusing on the present condition of the market, though, bankers opinion is based on their future preferences, we on the side of cryptocurrency sees a different view. Still the same that crypto will not impose threat to Global Financial Stability, but a threat to Bank operations and procedures. If most people will utilize cryptocurrency, how come banks manage fiats, or else, they should adopt blockchain technology to their systems.
It has no impact for now, as only 1% of the total population knows Bitcoin, so it has no effect at all, unless majority of countries regulate and implement this as a legal tender, as well as the adoption becomes 50% and up, then it will have a big impact in the global financial. It is not yet a threat for now, if the bank will not adopt and won't accept cryptocurrency soon, then, this will be their biggest mistake in the future, they cannot control the number of users to use this soon, so they should do something about it.
November 04, 2019, 12:01:36 AM
If we will base it today then it is true that cryptocurrencies do not have any threat for the global financial stability because the big banks and the governments still control the majority of the flow of economy. All of the big establishments and companies are registered and regulated under the government and because of that, government is still dominant here.
But I see your point is focusing on the present condition of the market, though, bankers opinion is based on their future preferences, we on the side of cryptocurrency sees a different view. Still the same that crypto will not impose threat to Global Financial Stability, but a threat to Bank operations and procedures. If most people will utilize cryptocurrency, how come banks manage fiats, or else, they should adopt blockchain technology to their systems.
November 03, 2019, 09:09:52 PM
If we will base it today then it is true that cryptocurrencies do not have any threat for the global financial stability because the big banks and the governments still control the majority of the flow of economy. All of the big establishments and companies are registered and regulated under the government and because of that, government is still dominant here.
November 03, 2019, 11:02:19 PM
They can say whatever they want to say. They may see it as a shrimp for now but they'll act differently when they see its market cap starts to hit $1T or so.
Is this thread should be on Press?
Is this thread should be on Press?
Apple had $1T marketcap recently, then it crashed by 40% and guess what, the world didn't end, and even American economy didn't suffer from it. And crypto has low liquidity compared to stocks, so marketcap is even more meaningless in this case.
Crypto will not be able to threaten global economy and banks, because it doesn't have enough users. Bitcoin exists for 10 years and since the beginning people though that mass adoption is coming soon and the revolution will begin, but there's no signs of it coming. It's time to open your eyes and realize that crypto is a niche product that is not suitable for everyone and that majority of the population doesn't care about freedom or privacy.
yes I agree with you the existence of cryptocurrency will never threaten the stability of the global economy and banks. because cryptocurrency users when compared to bank customers is far more bank customers. and banks will always be supported by the government so it is unlikely that cryptocurrency will beat the bank. and some of our society is also not ready to make bitcoin and cryptocurrency the actual currency that we can use to shop. so I am sure we will always need banks and fiat money.
October 06, 2019, 08:15:55 AM
What does the Indian government want anyway? What are they so afraid of? Crypto can't possibley be that big that it can cause this much drama. It juts seems like drama for the sake of drama and everyone up in arms about something or another making a huge noise. Stopping banks from operation with crypto-related businesses is a bad idea. These businesses bring external money into the country and provide jobs. How can that possibly be a bad thing? Too busy arguing about nonsense to see this great opportunity for their country.
October 05, 2019, 09:09:02 AM
It is true that the cryptocurrencies doesn't give them a threat about the financial stability because the government is on their side and when they see that cryptocurrencies is taking over the financial institutions then they can just simply ask the government to do something so they can stop the revolution of currency.
If the big players in the financial industries says that bitcoin does not pose any threat to them, I think we should just agree that it does not because they are the ones that knows every financial structure and they are able to tell what poses threat or not, and I think it really does not pose threat since it will be impossible for fiat to die, fiat system is too strong, and what can only be eliminated is the paper currency and not fiat itself. I think Mr satoshi also knows this, and this is why he created bitcoin to be an ALTERNATIVE to the fiat system and not as replacement. Also know that we are dealing with human beings, they can easily be manipulated, and many of these banks will only end of creating cryptocurrency for the government which they will impose on people.
October 04, 2019, 10:42:07 PM
Big Banker want to protect their investor keep save money in bank and never move their assets in bitcoin, but other side when bank member know how increase money by saving in bitcoin they will move soon their money from the bank to bitcoin, but have ready for take risk with bitcoin price when up or bitcoin down.
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October 04, 2019, 07:35:32 PM
It is not going to change much for USA because of dollars value that is true and it is gonna be a big challenge for China or Russia because they are doing fine. However for the middle countries it may change a lot of stuff.
The last time I checked, the whole world economy is slowdown, rate of jobless people is high and every national currency is losing which was the reason why some wealthy people switch some of their funds into gold or invest in a mining farm. Cryptocurrencies are the best alternative for change globally.There are a ton of countries who are not USA, UK, China and what not. You can't just hope Venezuela or Zimbabwe figures out a way with crypto neither, they are too far gone. So, anyone who is at the middle would take advantage of it.
We can't justify the capacity of cryptocurrencies through whats happening in Venezuela or Zimbabwe because the major cause of their problem there was bad government and I'm sure if the Zimbabwe government still allow cryptocurrency the state of their economy will be fair. October 04, 2019, 03:17:29 PM
It is not going to change much for USA because of dollars value that is true and it is gonna be a big challenge for China or Russia because they are doing fine. However for the middle countries it may change a lot of stuff.
Like maybe Greece will start to accept crypto taxes in crypto form, anyone who has profited anything from crypto has to pay taxes to government in form of that currency, which means the treasury will have a ton of bitcoins sitting around, yeah they may end up with a bad financial situation at one time but they would have a ton of crypto to cover those expenses and get out of recession.
There are a ton of countries who are not USA, UK, China and what not. You can't just hope Venezuela or Zimbabwe figures out a way with crypto neither, they are too far gone. So, anyone who is at the middle would take advantage of it.
Like maybe Greece will start to accept crypto taxes in crypto form, anyone who has profited anything from crypto has to pay taxes to government in form of that currency, which means the treasury will have a ton of bitcoins sitting around, yeah they may end up with a bad financial situation at one time but they would have a ton of crypto to cover those expenses and get out of recession.
There are a ton of countries who are not USA, UK, China and what not. You can't just hope Venezuela or Zimbabwe figures out a way with crypto neither, they are too far gone. So, anyone who is at the middle would take advantage of it.
October 04, 2019, 11:10:34 AM
Bankers just want to make money. In a world of negative interest rates and low volatility, cryptocurrency offers the chance to make loads and loads of money because of how volatile it is.
Probably because they can say that cryptocurrency does not threaten global financial stability due to lack of interest. I have a doubt, in the long run, they might regret what they say since cryptocurrencies for now and they will see now how good it is and very well known to many countries around the world. There are already many people investing in it because they find it more profitable rather than investing in the bank.
October 04, 2019, 10:59:37 AM
No matter how much adoption cryptoccurency will get, most people are still dependent on banks and fiat and it can't even bother the global financial stability. Money will still continue to circulate and banks will still function. Even us. We're into cryptoccurency, but still we go to banks and we rely on them.
The popularity and population of crypto is not yet enough to be considered as a threat to them. As long as they're being supported by the government, they don't have to worry about it.
The popularity and population of crypto is not yet enough to be considered as a threat to them. As long as they're being supported by the government, they don't have to worry about it.
October 03, 2019, 07:38:02 PM
It is true that the cryptocurrencies doesn't give them a threat about the financial stability because the government is on their side and when they see that cryptocurrencies is taking over the financial institutions then they can just simply ask the government to do something so they can stop the revolution of currency.
Thhe stability is not seen yet globally due to no mass adoption. Like their government, many government still didn't see the use of cryptocurrencies or blockchain good effects and useful functions if use by their government in financial planning. I don't think they don't consider it as threat since they know that their government will never opt to chance their system or to be this advance to use crypto and blockchain regularly. 
October 03, 2019, 05:11:16 PM
Bankers just want to make money. In a world of negative interest rates and low volatility, cryptocurrency offers the chance to make loads and loads of money because of how volatile it is.
Probably because they can say that cryptocurrency does not threaten global financial stability due to lack of interest. I have a doubt, in the long run, they might regret what they say since cryptocurrencies for now and they will see now how good it is and very well known to many countries around the world. There are already many people investing in it because they find it more profitable rather than investing in the bank.
October 03, 2019, 07:54:04 AM
The less people believe that cryptocurrency is a threat the better for all of us. This causes a reduction in regulations surrounding its use and therefore allows greater freedom for anyone that holds crypto and makes the process of investing much easier for potential users.
Their statements are true for present time, Bitcoin really has not had any effect on the economy and makes up only a microscopic amount of the total transactions which occur. However, in the future it could pose a huge threat to regulated society, placing strain on banks and we will just have to wait and see how these bankers' views of bitcoin change when the realize its ability.
Their statements are true for present time, Bitcoin really has not had any effect on the economy and makes up only a microscopic amount of the total transactions which occur. However, in the future it could pose a huge threat to regulated society, placing strain on banks and we will just have to wait and see how these bankers' views of bitcoin change when the realize its ability.
October 03, 2019, 07:36:19 AM
Bankers just want to make money. In a world of negative interest rates and low volatility, cryptocurrency offers the chance to make loads and loads of money because of how volatile it is.
So bankers will not only embrace crypto, they'll try to be the dominant players in trading it.
Governments are different. Some (like in the United States) are relaxed because they believe the dollar is not under threat. The weaker govts that have capital controls in place (like China) have banned crypto because it loosens their control over people.
I know people think bankers and the govt are the same - but in reality they have very different interests.
So bankers will not only embrace crypto, they'll try to be the dominant players in trading it.
Governments are different. Some (like in the United States) are relaxed because they believe the dollar is not under threat. The weaker govts that have capital controls in place (like China) have banned crypto because it loosens their control over people.
I know people think bankers and the govt are the same - but in reality they have very different interests.
October 03, 2019, 07:16:09 AM
October 03, 2019, 01:50:15 AM
Such a statement by bankers just indicates that cryptocurrency poses no threat to banks. Bankers in this case, it makes no sense to lie. Just cryptocurrency has not yet become widespread in order to actively express itself. In addition, states are in no hurry to legalize it, and this also leaves an imprint on the attitude towards it. However, on the other hand, let it be so, why do cryptocurrencies conflict with conventional currencies. Better to help each other better.
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July 14, 2019, 06:47:56 AM
This is not just the big bankers. This was recently announced by the G20 countries on the results of the summit in Japan. In addition, it was stated that cryptocurrency can have a positive impact on the global financial system. This means that the states will continue the process of cryptocurrency legalization and we are expected by the general regulation of cryptocurrency at the level of intergovernmental organizations.
Really? because these conference was attended by many heads of state including my president and American president, very special if they also discussed about bitcoin. in my opinion, bitcoin does not threaten anything, but bitcoin improves the world economy, there should be someone who said that in that forumSuch an assessment of cryptocurrency by the world states creates good prerequisites for further price growth of cryptocurrency.
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