Topic: big banks going against crypto (Read 931 times)
I think that the banking system will lose if it fully opposes cryptocurrency. Smithy is raising owners of large banks who lose influence on their customers, and also they lose a significant portion of the profits that remain in the pockets or wallets of users of cryptocurrency. But they will have to accept the fact that the real financial system of the world will exist in tandem with a cryptocurrency market.
These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.
We should not go against the banks due to obvious reasons. BTC and altcoins are not enough to fully replace a current banking system. It will be a big mistake to think like BTC transaction can handle all worldwide transactions. There is no mass adoption yet.No one is doing anything against the banks in this market, I agree. (Except Ripple, they are constantly trying to work with banks.) But many cryptocurrencies are inherently working against banks. In other words, what some projects want to achieve is interfering with the working area of banks.
These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.
We should not go against the banks due to obvious reasons. BTC and altcoins are not enough to fully replace a current banking system. It will be a big mistake to think like BTC transaction can handle all worldwide transactions. There is no mass adoption yet.
This because the users had already withdraw their money from the banks investing in bitcoin and other investment scheme. Here in the Philippines, the banks had complaining on investment scheme which is KAPA investment company that promise to give 30% profit in just one month. This sounds like Ponzi but but many of the banks began to worried because huge money flows held by KAPA and only few of the savings left for them to hold.
For me, big banks moving against crypto is no longer news and I'm not surprised at all at their efforts to cripple crypto, for them, the overwhelming successes of cryptocurrences means a loss for the banks as money that could have been invested in the banking sector, could easily end up finding its way into the crypto space, thereby denying the banks of the revenue they could have obtained from such transaction.
They are facing a big problem going against crypto as they cannot stop crypto, they have been trying that's why people panic and with FUD it makes the price of bitcoin to fall down, some even said that crypto or bitcoin is a bubble, but where are they now? it's a big slap in their face as bitcoin when dump still recovered and now poising to return to its ATH price.
These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.
It's the end users itself can justify where to place their trust using this two opposite sides, there's always negative approach coming from differentsides but when you already knew how things works, you can also consider both to work together on your own ways, money you earned from crypto
can be converted and store inside your bank and vice versa.
I see a lot of people here that ask how are banks against crypto if they are using blockchain technology. Well, this are two different things and they should not be mingled. Bitcoin is a cryptocurrency that's working on blockchain. Big banks like Bank of America or Bank of China are already using Blockchain but this doesn't mean they are using cryptocurrencies.
Regarding to the OP, I didn't saw any big banks going against crypto. The bank you have mentioned is pretty small and even if it goes against crypto its not going to have any affect against it. Banks have not shown much interest in cryptocurrencies but they've also didn't announced to be against them.
Regarding to the OP, I didn't saw any big banks going against crypto. The bank you have mentioned is pretty small and even if it goes against crypto its not going to have any affect against it. Banks have not shown much interest in cryptocurrencies but they've also didn't announced to be against them.
For me, big banks moving against crypto is no longer news and I'm not surprised at all at their efforts to cripple crypto, for them, the overwhelming successes of cryptocurrences means a loss for the banks as money that could have been invested in the banking sector, could easily end up finding its way into the crypto space, thereby denying the banks of the revenue they could have obtained from such transaction.
They could work together with cryptocurrenies but they refuse to just out of fear of not understanding what it can do or will do to their financial system with the way it is currently running at the present.
Banks are of the old system where they only rely on tested and true methods of doing things. Nothing else and no other way until they test it make it true themselves. But what comes along with the blockchain if they decide to use it for their everyday banking operations is cryptocurrency which they see as a threat to their current banking system as a whole.
Or they just simply dont want to spend the time or money to convert their entire system to accept cryptocurrencies for payments and savings.
Who knows really.
Banks are of the old system where they only rely on tested and true methods of doing things. Nothing else and no other way until they test it make it true themselves. But what comes along with the blockchain if they decide to use it for their everyday banking operations is cryptocurrency which they see as a threat to their current banking system as a whole.
Or they just simply dont want to spend the time or money to convert their entire system to accept cryptocurrencies for payments and savings.
Who knows really.
These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.
We should not go against the banks due to obvious reasons. BTC and altcoins are not enough to fully replace a current banking system. It will be a big mistake to think like BTC transaction can handle all worldwide transactions. There is no mass adoption yet.
These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.
I really don't think i would want to swap all my fiat currency into crypto for the very obvious reason of volatility, yes crypto is given back power to the people to be able to have control of their assets but there are still lots of work to do to bring it to the level where everyone will feel comfortable to store their values with,
I think if at all i will consider this, then i will be chosen one among the stable coin in the market, i can't afford to get my emotions up when btc goes into bearish mode
I think if at all i will consider this, then i will be chosen one among the stable coin in the market, i can't afford to get my emotions up when btc goes into bearish mode
Fiat will be always needed. It will be a big mistake to start working with the cryptocurrency only and give up traditional money. The best choice is to combine both. Actually, the banks will be also needed in the future.
To provide most liquidity and stable value, I think stablecoins is the best choice for that. It is like preserving the value of our money on the long run since fiat currency is subject to inflation and value depreciation. If we want a bank like crypto asset, PoS coins best suited for that.
FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?
well i would choose coins that have a high liquidity such as eth, bitcoin and ltc. But if your purpose to only hold and you are afraid with the fluctuation tether might be a good option to considerThe fluctuations among those coins are reasons of the volatility of the general cryptocurrency world. Your suggested coins are good but for Tether, am not just interested to invest in it. Bitcoins and Ethereum are my major coins which i believe can yield more profits after a longtime.
Ether, Ripple or Bitcoins is the cryptocurrency I will convert all my funds into in case I am left with an option to move my money from fiat to crypto. With these cryptocurrency, no matter the bear market , they will sooner or later bounces back.
FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?
well i would choose coins that have a high liquidity such as eth, bitcoin and ltc. But if your purpose to only hold and you are afraid with the fluctuation tether might be a good option to consider 
I think it has become natural for many banks to oppose crypto currencies. This bank's opposition because the bank feels threatened by the presence of crypto currencies. Banks as controlling fiat currencies have competitors in taking people's hearts. But if indeed the crypto currency is more profitable then there is no harm in us switching to crypto currency because that is our right. We can choose crypto currency coins for our investment fields. I advise you to invest in btc or eth. Both coins are the most potential coins at the moment and can provide real benefits. I hesitate to invest in other coins because in essence the crypto currency market is controlled by these two coins.
Bank is a business, where there is money banks are there too. In my opinion banks will never be against crypto, they’re not just ready to introduce it to their clients due to its lil bit complicated. Time will come that most major banks might offer crypto savings account for their clients in the future.
FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?
I don’t see any connection of the Title to the question it’s irrelevant lolI am 100% sure that it was bitcoin who must I invest to hold,for the safest and secure investing,though many will try to steal our coin so we must be ready from hacking and scammers for they are part of his community since then,and specially this growing market,those damn scammers and hackers are circling the forum to find victims
No matter what the situation surrounding the cryptocurrency sector could be, bitcoin will surely be my primary focus when it comes to my portfolio. There are lot of banks which have been going against cryptocurrency for a long time but still cryptocurrency is still proofing strong with wide market cap and more adoption globally. I see no reason why banks should be against cryptocurrency rather they should be looking for alternative means to allow crypto coin be among users assets holding and daily transactions utilisation
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