Big Bankers Say Cryptocurrencies Do Not Threat The Global Financial Stability - page 6.

Tylev

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Quote from: guoyu78 on July 08, 2019, 04:16:24 AM

Quote from: iMark on July 05, 2019, 11:47:49 AM

Quote from: Leyss on July 05, 2019, 02:09:29 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 forum

If that was true, it would really be a welcome development, but I have not come across such news, I know that there was a G20 summit, but never new that cryptocurrency was part of the agenda discussed, if it was, we ought to have seen that on cryptocurrency news sites which I do visit most of them on a daily basis, but have not come across anything close to that, also if something like that happened, these are type of the fundamentals that usually increase the chance of bitcoin surging, but I don’t think the recent surge is any way related to this meeting, and I would have loved that he can post the ink to the source of his information, otherwise I would just count it has rumor, but if it were to be true, then we are another one step ahead.

At the recent summit of G-20 countries, the issue of cryptocurrency was really discussed and a statement was made by the results of such discussion, which stated that cryptocurrency really does not represent a threat to global financial stability, and it was also suggested that it could have a positive impact on the economies of states.
Such an assessment of cryptocurrency by the world states creates good prerequisites for further price growth of cryptocurrency.

guoyu78

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Quote from: iMark on July 05, 2019, 11:47:49 AM

Quote from: Leyss on July 05, 2019, 02:09:29 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 forum

If that was true, it would really be a welcome development, but I have not come across such news, I know that there was a G20 summit, but never new that cryptocurrency was part of the agenda discussed, if it was, we ought to have seen that on cryptocurrency news sites which I do visit most of them on a daily basis, but have not come across anything close to that, also if something like that happened, these are type of the fundamentals that usually increase the chance of bitcoin surging, but I don’t think the recent surge is any way related to this meeting, and I would have loved that he can post the ink to the source of his information, otherwise I would just count it has rumor, but if it were to be true, then we are another one step ahead.

justdimin

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I guess they are saying it will not destroy global financial stability, thats not a bad thing. Everyone keeps reading this and hears "banks will survive crypto and crypto is not strong enough to destroy banks" but maybe they are just saying "crypto is the new financial revolution and banks will adapt to it", maybe they are actually coming around and thinking crypto is actually what would make banks better?

That is still a possibility and I think that will ripple into the near future. There are many banks working with blockchains now or at least making experiments on them, there are ones trying to build their own coins and there are even a lot of talks banks supporting Libra as well, so as you can see crypto is not a threat, they are right, crypto is actually a support for them.

iMark

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Quote from: Leyss on July 05, 2019, 02:09:29 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 forum

kennen1113

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Quote from: bettercrypto on July 04, 2019, 09:06:17 AM

Really? I don`t think so.
Bitcoin is a threat with them. Many people even I have already trusted to save money in bitcoin form than in banks. Either the banks have smaller interests. I trust bitcoin because I already cashed out many times. Though, the network clogs sometime, I still be able to send money with my family even I am only at my house. Cryptocurrencies are way better than banks.

I think this is true because even though bitcoin can be considered by everyone to become a place to store, replace this feature of the bank but the level of risk in this process is still too big when it is not a stable coin, even with many other crypto, this is similar, very few coins are stable. In addition, too much information deception and defamation about crypto the value of trust with crypto is still low while trust in the bank remains constant, that makes the bank not too much pressure or fear before this weak threat

Leyss

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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.

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Quote from: bettercrypto on July 04, 2019, 09:06:17 AM

Really? I don`t think so.
Bitcoin is a threat with them. Many people even I have already trusted to save money in bitcoin form than in banks. Either the banks have smaller interests. I trust bitcoin because I already cashed out many times. Though, the network clogs sometime, I still be able to send money with my family even I am only at my house. Cryptocurrencies are way better than banks.

Well, that is just a reverse psychology as I think. They want to have assurance with their clients that they are still capable of transacting money better than bitcoin and blockchain. That is just to persuade their investors to lend more money with them since they just want to emphasize that banks are good. Let us just see how they capable to address one`s need.
They want to have a friendly game battle because they will promote cryptocurrencies for their own purpose

bettercrypto

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Really? I don`t think so.
Bitcoin is a threat with them. Many people even I have already trusted to save money in bitcoin form than in banks. Either the banks have smaller interests. I trust bitcoin because I already cashed out many times. Though, the network clogs sometime, I still be able to send money with my family even I am only at my house. Cryptocurrencies are way better than banks.

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Quote from: indrakusumaindra on June 29, 2019, 12:08:08 PM

Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

They just afraid that people will leave fiat currency and i do think cashless society is the future and bank just like to prevent it to happening. I do think bank should follow the developments of technology and they can build a crypto custody instead rather than trying to destroying it.

That would not happen if the government would not allow it, let's think it this way, the world we are living is pretty regulated and if the government will ban bitcoin, things will look bad. The government will always protect their interest as fiat is the money they created, maybe I would believe that adoption of crypto will increase but it would not make fiat useless or make it inferior against crypto.

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Quote from: Lifestudent38 on July 01, 2019, 07:51:00 AM

The South African Reserve Bank has stated that Cryptocurrency will become a material threat to the financial system if the market capitalization exceeds $1 trillion... SA Resbank Consultation Paper on Cryptocurrency

They don't realize how flawed the market cap metric in crypto is. The ratio between the market cap of a coin and the actual amount of money within its ecosystem is incredibly poor-- worse than penny stocks in some cases.

It will come down to how much use crypto enjoys, and what that use actually is. If we're stuck in speculation mode even when we do exceed the $1 trillion total crypto market cap, it will not form a threat to any government.

People need to see the value of crypto as disruptive currencies, not as gambling tools allowing them to potentially make big gains. I'm sure we are still many many years away from being at that point.

guoyu78

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Quote from: Lifestudent38 on July 01, 2019, 07:51:00 AM

Quote from: cybersofts on January 06, 2019, 11:47:39 AM

~~snip

The South African Reserve Bank has stated that Cryptocurrency will become a material threat to the financial system if the market capitalization exceeds $1 trillion... SA Resbank Consultation Paper on Cryptocurrency

Different financial analyst with their own view to cryptocurrency, while some people sees it as threat to banks, some do not see it as threat, it all depends on the system of government operating in each country and how transparent they are in their financial dealings and to their citizens.

If you see any government fighting cryptocurrency, it is majorly because of tax, if they were transparent to their citizens and are treating them right, even if they use cryptocurrency to transact their businesses, they will still declare their monthly transaction to the government for them to be tax. People are embracing crypto more because of how government is threatening them in a hard way as regards tax. So crypt should not really be threatening to them, because its economy value to their country should make them forget their personal interest.

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fiulpro

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Maybe that's the real reason why they are influencing the governments to ban the cryptocurrencies in many places at the same time they are shutting down the cryptocurrencies savings when being deposited in accounts or even , those Which are used to sell , thats why they are not in a support of buying and selling the cryptocurrencies using their services.

If that's so then why are they saying this ?
On the contrary they are giving out statements to the press telling the general public to stop engaging in it as it might be difficult for them in the future.

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Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

They just afraid that people will leave fiat currency and i do think cashless society is the future and bank just like to prevent it to happening. I do think bank should follow the developments of technology and they can build a crypto custody instead rather than trying to destroying it.

Mahanton

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Quote from: South Park on June 25, 2019, 03:09:41 PM

Quote from: adzino on June 19, 2019, 03:24:39 PM

Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

They do hate bitcoin and other crypto currencies. They feel threatened by their existence. Who said they aren't against it? Even VISA started to cut ties with companies that provided cards that can be recharged using crypto currencies. There are countries were the bank closes customers account if they find any transaction related to crypto currencies. I would say this is quite normal. We all know, bank will slowly be removed from existence if crypto currencies become mainstream.

Since bitcoin is a direct competitor to their business then it makes perfect sense for them to try to block its rise especially if those using bitcoin are using their services, however as long as the reasons for the creation of bitcoin are there then bitcoin will continue to thrive, for example banks want to charge huge fees for moving your money while bitcoin only requires a few dollars, banks want a monopoly while bitcoin is willing to compete against them and against thousands of other coins, so as long as they do not change they cannot kill bitcoin.

Killing bitcoin is really just pointless yet it isn't really possible no matter how these big bankers would do.
We know on how big is the community that do supports bitcoins existence.They might say that Crypto doesn't give any thread then
I do see that it is just a fake cover up but deep inside they do know the risk that can possibly affect to their traditional service.

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Quote from: adzino on June 19, 2019, 03:24:39 PM

Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

They do hate bitcoin and other crypto currencies. They feel threatened by their existence. Who said they aren't against it? Even VISA started to cut ties with companies that provided cards that can be recharged using crypto currencies. There are countries were the bank closes customers account if they find any transaction related to crypto currencies. I would say this is quite normal. We all know, bank will slowly be removed from existence if crypto currencies become mainstream.

Since bitcoin is a direct competitor to their business then it makes perfect sense for them to try to block its rise especially if those using bitcoin are using their services, however as long as the reasons for the creation of bitcoin are there then bitcoin will continue to thrive, for example banks want to charge huge fees for moving your money while bitcoin only requires a few dollars, banks want a monopoly while bitcoin is willing to compete against them and against thousands of other coins, so as long as they do not change they cannot kill bitcoin.

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Quote from: RealMalatesta on June 23, 2019, 04:15:11 AM

Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

That part B of your first sentence is exactly the issue with ban, you think banks are created to really save your money, is that how they so much love us? The reason why they are after you saving your money with them is because of the profit they are making from our savings.

The charges alone give them millions of dollars as profit in a month, and not to talk of the interest they get back when they use our money as loan to big firms. If you don’t keep your money with them, how would they make profit for them to survive, be able to pay their staff salary and maintain their strictures, this has been their major fear.

It's all about benefits they won't care if they are not being affected it's a usual business that needs to be catered by the banks, they care if you are bringing them profits, from those billions of people who use their service surely it will always be for the benefits of the company and nothing away from that point.

RealMalatesta

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Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

That part B of your first sentence is exactly the issue with ban, you think banks are created to really save your money, is that how they so much love us? The reason why they are after you saving your money with them is because of the profit they are making from our savings.

The charges alone give them millions of dollars as profit in a month, and not to talk of the interest they get back when they use our money as loan to big firms. If you don’t keep your money with them, how would they make profit for them to survive, be able to pay their staff salary and maintain their strictures, this has been their major fear.

MinMan

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First of all was there anyone that claimed that it is affecting the global financial stability? The main thing I have seen people complain most about is that Bitcoin can be used for money laundering and can also be used for other bad purposes and which will make the users unable to be traced since Bitcoin is anonymous (or pseudo anonymous as some would say… But still they won't be caught, with Bitcoin they can cover their traces pretty well. So it's still the same thing, it's anonymous.

Lanatsa

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Quote from: adzino on June 19, 2019, 03:24:39 PM

Quote from: farwellbit on June 19, 2019, 02:37:13 AM

I have always thought the same, cause I don't really see how cryptocurrency is affecting banks, though I do think that it might affect how much they make from transactions as a lot of people might starting opting for Bitcoin for making transactions. But apart from that there is no other way I think that cryptocurrency is affecting banks. If it was affecting them they would have started against it all this while and that would have led to the government stopping cryptocurrency once and for all.

They do hate bitcoin and other crypto currencies. They feel threatened by their existence. Who said they aren't against it? Even VISA started to cut ties with companies that provided cards that can be recharged using crypto currencies. There are countries were the bank closes customers account if they find any transaction related to crypto currencies. I would say this is quite normal. We all know, bank will slowly be removed from existence if crypto currencies become mainstream.

I disagree with you where even crypto currency becomes mainstream i cant really see that it would remove banks anytime soon.
As long theres government they wont let that thing to happen.They can ban all they want but getting rid with crypto isnt possible.
They do exist on both separate purposes so we should simply accept into that reality.

Topic: Big Bankers Say Cryptocurrencies Do Not Threat The Global Financial Stability - page 6. (Read 17104 times)