big banks going against crypto - page 4.

Ryan Dugan

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I store half of my money in bitcoin. I guess I believe. I have the usual altcoins (the ones you find in coinpayments) I sometimes rent mining power from rentmyrig and mine newer coins then sell them to increase my stock of the other coins I have. Then smaller amounts of "secondary" alt coins. Most with short lifespan or sometimes quitely in hte background with a low capital but a very long duration of existance. Those would be my favourite coins.

Quote from: leonair on June 07, 2019, 04:07:26 PM

Banks are going against cryptocurrency because they've known its potential in the future so if they just do nothing against it then they will be gone. The time will come that cryptocurrency will be use more than banks or it may merge as online banking is already there.

Modernization is inevitable no matter how big industries try stop it, it's just a matter of who are willing to adjust and adopt.

They natural enemies like the rabbit and the fox. Both want the same things and the traditional fiat is feeling shaky in the presence of a better high tech technology.

TimeBits

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Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

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?

bitcoin and bitswift

leonair

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Banks are going against cryptocurrency because they've known its potential in the future so if they just do nothing against it then they will be gone. The time will come that cryptocurrency will be use more than banks or it may merge as online banking is already there.

Modernization is inevitable no matter how big industries try stop it, it's just a matter of who are willing to adjust and adopt.

Fred3030

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Blockchain technology and its underlying crypto currency is disrupting various sectors of the economy and the banks will not be left behind. Although it might take some time for our traditional banks to fully align with blockchain technology but it will happen. On the issue of what crypto would I choose to hold if I am to convert my fiat to crypto , I would go for a 50-50 situation. 50% into Btc and 50% in fiat.

bitbunnny

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Fin tech banks don't exist, at least not yet. But the fact is that banks are changing their business and services due to new modern technologies and cryptocurrencies are part of it. I think that banks are not against Bitcoin or other cryptocurrencies but they measure everything through risk and profit since they are highly regulated industry and Bitcoin is still too big risk for them both in legal and financial way. But with time this will change and financial industry will embrace cryptocurrency, I'm sure of that.

royalfestus

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Quote from: Ayiranorea on June 07, 2019, 11:59:29 AM

Majority of the users will have bitcoin as the major holding on their cryptocurrency portfolio. Big banks were getting things done through blockchain, and majority were into testing. Possibly every banking service render will adopt the technology as they've found people moving towards cryptocurrency from traditional banking. Banks have faced big loss, as large volume transactions have taken place much through cryptocurrency which is the reason for banks making opposition statements against cryptocurrencies.

I also doubt the profess of most banks against cryptocurrency, they are all involved in cryptocurrency and are involved in this accumulation. I dont have any source but have seen some leading role in the banking sector talk in public on their believe in the space and its ability to improve transaction.

Ibizugbe1

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Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

I will use bitcoin, I don't want to wake and see that my has vanished together with any CEO. As a safe rule and for security sake, I will use the bitcoin to store my money. In 2017, I move my money from the bank and converted it to bitcoin and only left petty cash there.

CryptoBry

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Quote from: uneng on June 07, 2019, 12:51:07 PM

Big banks need to change their minds fast, otherwise they will crash, as people are already migrating to digital new banks much more friendly to crypto currency than the old ones.

Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

I like that saying: never put all your eggs on the same basket. That is a good thought to remember when you want to invest your money. I see no reason to invest only in btc, although the biggest part of the crypto budget must be on it. It's better to check what are the up trend altcoins and share a percentage of your budget with them.

I am sure that right now banks are watching the many developments in the world of cryptocurrency and they are already thinking how they can join the digital revolution. Soon we are witnessing bank-sponsored cryptocurrency (which many can call as pseudo) which they can use in their own ecosystem.

As for cryptocurrency, it will always be bitcoin for me though I am also into Eth and XRP. There are actually good coins right now with bigger potential for growth. Sometimes it is just a matter of preference and some analysis.

rdluffy

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If I have to hold my funds, I'm sorry to say but there is no coin to solve this problem
BTC, at least for today is my investment
I know there are some stable coins, like Tether for example, but I only trust to hold my position for a few days, not to have all my money

We really need a stable coin, but a coin we can really trust

uneng

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Big banks need to change their minds fast, otherwise they will crash, as people are already migrating to digital new banks much more friendly to crypto currency than the old ones.

Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

I like that saying: never put all your eggs on the same basket. That is a good thought to remember when you want to invest your money. I see no reason to invest only in btc, although the biggest part of the crypto budget must be on it.
It's better to check what are the up trend altcoins and share a percentage of your budget with them.

jak3

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I would like to store my money in Bitcoin no doubt on that. Bitcoin is not just an investment to make it is much more on the potential it has, if we invest in Bitcoin today and then it will enhance its potential then tomorrow or in the near future we are going to see what it actually get on also considering the fact that many services, organizations, and individuals are trying to stop cryptocurrency from spreading in the world but let them do whatever they want as I think cryptocurrency is the next big thing in the picture.

metalglowd

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Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

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?

If for example I want to move my assets in the form of a cryptocurrency, maybe in the percentage of 80% it will be in the form of bitcoin then 15% in the form of Ethereum and the rest is another Altcoin. At least that was what i'm think about moving funds. Indeed it looks very risky, but i will take it anyway.

gantez

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That antagonist move is possible because people have found another way to hold their money and not give it to banks to do business with. Like what is happening between china and usa on trade, citizens find bitcoin safer to hold their money to themselves.Obviously, it is with these investors money that banks survive with.

Ressurection

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Well in case i am moving all my funds into cryptocurrencies i would decide to hold most of them in Ethereum and do a little bit of bitcoin because anytime bitcoin rises slightly the price of Ethereum jumps up real high lol.

clair508

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Sure they will.Because they loosing money because of cryptos. Earlier there was only 2 way make money without do any hard word.Saving in bank with low interest and invest in stock market.But decade ago cryptos invented.After that new competitor came to world.Competitor with high benefits.So people always go after high benefits.So the people choosed cryptos.Do you like your investors going after another one. Thats what happened here.So why don't they again cryptos?

xvids

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Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

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 would still use Bitcoin I have been using it for a long time now ,
And Banks against crypto isn't new actually it has been around for a while if I am not mistaken it has been that way since crypto has been created.
And if I am not mistaken back in 2015-2016 there was an issue like this in the Philippines where the crypto user's bank account would be frozen and they need to clarify some things about it.

Ayiranorea

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Majority of the users will have bitcoin as the major holding on their cryptocurrency portfolio. Big banks were getting things done through blockchain, and majority were into testing. Possibly every banking service render will adopt the technology as they've found people moving towards cryptocurrency from traditional banking. Banks have faced big loss, as large volume transactions have taken place much through cryptocurrency which is the reason for banks making opposition statements against cryptocurrencies.

harizen

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Quote from: alexyong342 on June 07, 2019, 11:13:42 AM

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?

We are talking about own funds here, therefore, it should be obvious what crypto are we going to use. And not just that, crypto isn't only the option we have.

Banks in the future will surely be modernized, adopting financial technology ideas. However, some third world countries will still use the traditional way of the banking system as modernizing requires pre-requisites before implementing. It will take time and the economic situation of a certain country matters.

Anyways, I don't see this as big banks going against crypto. The title is misleading to the content of the main post.

Adriano2010

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There are fintech who let buy crypto, but not let withdraw the crypto and must to hold there and can sell for higher when drop, but i don't know which big banks is against crypto.

Beerwizzard

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There is no such thing as a Fintech Bank. There is even no clear statement about what is fintech and every project have its own understanding of that word.
Also in general fintech is not about cryptocurrencies. For example almost every big bank have a big IT team that is working on different things related to Big Data, which is also considered as fintech.
Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.

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