Big Banks and MainStream | Bitcointalksearch.org

Yogee

sr. member

Activity: 1554

Merit: 413

Quote from: fzkto on January 29, 2023, 03:05:36 PM

Quote from: o48o on January 29, 2023, 01:59:50 PM

Quote from: fzkto on January 29, 2023, 06:06:50 AM

-cut-
I also think that the current cryptocurrency may be less in demand after banks create and start using CBDC.

I don't think you understand how different other cryptocurrencies are from CBDC. Sure, people can use that to send money, but it's not like it would be store of value. CBDC is just fiat money in a new form. It will be better and cheaper form but people won't be buying it like gold and speculating the value would rise. And depending on the platform it could end up being a farce. Although i am certain they will take their time and not push out product that isn't tested and ready.

And it wouldn't be money of the people. Also transactions are going to be reversable for that contract. That's goes without saying.

You may be right that CBDC will be the same national currency of the government and have less volatility and speculation than cryptocurrencies. But still banks will restrict access to cryptocurrencies, so people will use CBDC instead of crypto. Some countries may even have bans, like China for example. Maybe it will not affect us too much, but it can negatively affect further adoption of crypto.

Banks already restricted their users from accessing crypto by blocking their accounts that are connected to exchanges but that still didn't traders or investors. Centralized exchanges and other brokers have already implemented or adopted stable coins and different fiat payment gateways for years but crypto didn't slow down because of those things. Issuance of CBDCs won't stop them or cause a slow down either.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

It is impossible to tell you this because not even they know it, one day they are bullish about bitcoin and it is a great development for money all over the world, and then the next moment they think bitcoin is dead and it was a bad idea from the beginning, it is better for you to not give them too much attention or you will go crazy trying to figure out their posture towards bitcoin and the market in general, concentrate on what you can control, like your capital and the moment at which you invest.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

Quote from: o48o on January 29, 2023, 01:59:50 PM

Quote from: fzkto on January 29, 2023, 06:06:50 AM

-cut-
I also think that the current cryptocurrency may be less in demand after banks create and start using CBDC.

I don't think you understand how different other cryptocurrencies are from CBDC. Sure, people can use that to send money, but it's not like it would be store of value. CBDC is just fiat money in a new form. It will be better and cheaper form but people won't be buying it like gold and speculating the value would rise. And depending on the platform it could end up being a farce. Although i am certain they will take their time and not push out product that isn't tested and ready.

And it wouldn't be money of the people. Also transactions are going to be reversable for that contract. That's goes without saying.

You may be right that CBDC will be the same national currency of the government and have less volatility and speculation than cryptocurrencies. But still banks will restrict access to cryptocurrencies, so people will use CBDC instead of crypto. Some countries may even have bans, like China for example. Maybe it will not affect us too much, but it can negatively affect further adoption of crypto.

Xal0lex

staff

Activity: 2436

Merit: 2347

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

They think they can make good money on it by allowing their clients to open positions or have custodial holdings. In my opinion, banks have been in bitcoin for a long time, since about 2018. Back then, they were actively dumping tons of hate on bitcoin in order to drive the price down as much as possible and make a good profit. Now they are already openly interested in bitcoin, but don't rely on them too much. Banks will always stand up for their own interests first of all, for the interests of traditional finance, so if some crisis happens, they will get rid of all their bitcoins without a second thought and redirect the money into gold, for example.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

Most of them especially in third world countries see Bitcoin as their main enemy and from what I see in these banks and their TV ads because I live in such country from some years now is that they are very very hostile against crypto in general and not only Bitcoin in specific,they keep telling people to not invest in such "ponzi schemes" and "scammers" according to them,it is a campaign to stop people here that are becoming much aware every year that passes and as such they are not pro it.In fact very few banks here allow to exchange Bitcoin to your debit/credit card,the big ones blocks such payments with the argument that this is money coming from scamming,that is how hostile they are.

Luckily people do not listen to them and they love crypto,I doubt in the western developed countries banks have such high hostilities toward crypto although they may do in much little scale.

o48o

legendary

Activity: 3052

Merit: 1168

Leading Crypto Sports Betting & Casino Platform

Quote from: fzkto on January 29, 2023, 06:06:50 AM

-cut-
I also think that the current cryptocurrency may be less in demand after banks create and start using CBDC.

I don't think you understand how different other cryptocurrencies are from CBDC. Sure, people can use that to send money, but it's not like it would be store of value. CBDC is just fiat money in a new form. It will be better and cheaper form but people won't be buying it like gold and speculating the value would rise. And depending on the platform it could end up being a farce. Although i am certain they will take their time and not push out product that isn't tested and ready.

And it wouldn't be money of the people. Also transactions are going to be reversable for that contract. That's goes without saying.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

The reaction of major banks and conventional organizations to bitcoin has been divided. Some people have been wary, even critical, of cryptocurrencies, while others have been more accepting.

Many large institutions have previously been cautious to adopt bitcoin, citing worries about its volatility and lack of regulation. However, opinions have shifted in recent years, with more and more mainstream organizations becoming interested in bitcoin. Companies such as PayPal and Square, for example, have begun to enable their users to purchase and trade bitcoin, while large banks such as JPMorgan and Goldman Sachs have began to provide bitcoin-related services to its clients. Furthermore, institutional investors are beginning to include Bitcoin and other crypto assets in their portfolios.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

Well some of them think that bitcoin is

a: competitor - specially in it's early years
b: they can take advantage of it and make more money business wise - in the later years

So still, I think some of the banks are going to embrace it later. And the good thing is that we can have a choice and used both of them for our advantage. So not necessarily we should have each institutions specially the banking system.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

I think the view of big banks and also institutions and government on bitcoin and the crypto space as a whole has significantly changed withing the last 5 years or so. Back in 2017 or so when i first entered the crypto space, big banks and governments were still pretty much making fun of cryptos and did not take it seriously at all. Nowadays crypto currencies get adopted by big companies more and more and therefore also banks, institutions and governments have no other option than to really look into cryptos. They are not doing this because they are fans of cryptos, but they simply also want to earn from the trend. Big banks are doing everything to make money.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

They always tell a lot of stuff about bitcoin, some says its a scam but to others they are impress with the technology and popularity of bitcoin. Too many opinions that are mixing together which resulted to a more bullish and bearish situation for bitcoin. Adoption is coming but definitely must be oversee since the US are trying to regulate a decentralized space of bitcoin.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

Some bankers stated that bitcoin is nothing but scam however with no clear evidence of their statement so its proven that they don't know what is bitcoin but trying to give an opinion about it, mainsteam media goes either way they called it scam and hacker money and also they claimed its better than fiat when the money faces huge inflation so their opinion is nothing but useless.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

https://twitter.com/justinsuntron/status/1619607043203268609
"As we work towards the adoption of #TRX as legal tender, let's not be too US-centric. US🇺🇸 regulation is important, but we should focus on the 8 billion people on Earth. The US is just one country, and while it may be a major player in the crypto world, it's not the only one."
Justin Sun has always been a good buffoon, but I like his idea.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

Quote from: Tytanowy Janusz on January 29, 2023, 04:33:56 AM

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

It depends if we are in bear market or bull run. In bear markets they are calling "bitcoin is dead" - https://99bitcoins.com/bitcoin-obituaries/ to create even more fud. In bull runs they call a 100k$ or 1 mln$:

JPMorgan says bitcoin could rally as high as $100000
JPMorgan: Bitcoin price could rise to $146K as it competes

So they are like counter indicator for us, experienced crypto traders.

It seems to me that banks have been managing all cryptocurrencies for a long time because they have the biggest capitals, thanks to which you can manage anything. I also think that the current cryptocurrency may be less in demand after banks create and start using CBDC.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: raja9167 on January 29, 2023, 04:11:48 AM

What do the big banks and mainstream institutions think of bitcoin?

It depends if we are in bear market or bull run. In bear markets they are calling "bitcoin is dead" - https://99bitcoins.com/bitcoin-obituaries/ to create even more fud. In bull runs they call a 100k$ or 1 mln$:

JPMorgan says bitcoin could rally as high as $100000
JPMorgan: Bitcoin price could rise to $146K as it competes

So they are like counter indicator for us, experienced crypto traders.

raja9167

newbie

Activity: 22

Merit: 0

What do the big banks and mainstream institutions think of bitcoin?

Topic: Big Banks and MainStream (Read 114 times)