Citibank Article "Bitcoin At the Tipping Point"

wxa7115

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Quote from: Lanatsa on March 02, 2021, 05:45:14 PM

I don't usually read up any sentiments that do came from banksters or any other institutional investors yet most like that would be always on the negative side of things.

The only line is notable into that article is this;

"We wrote that Bitcoin was familiar and welcome to younger generations and although older investors may have heard the word, they were generally less familiar with it and more skeptical."

This is actually true but as years passed those older investors aren't really blind when it comes to the opportunities right into their front.

That is only really true if they are not the kind of people that are too set on their ways to change, if they are then they are never going to adopt bitcoin no matter what happens, but if they are reasonable then bitcoin should be on their list of priorities to adopt as soon as possible.

And one of the best pieces of evidence of this are institutional investors, a great deal of those that have the most money in the world are older and yet they are coming to this market since they can see the fiat scam system is soon to be out of control and they want to have as little cash as possible when that happens.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

I managed to set aside some time to read through the 108 page document. It’s pretty dense, and rather focused on laying out the fundamentals that allow bitcoin to intersect with the world of financial products. It piggybacks on this intersection to depict the reasons why institutions have started to find bitcoin appealing, and describes the array of evolutionary product/service changes made that have brought bitcoin there.

All in all, it's worth a read, albeit it not being a seamless one.

sunsilk

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Quote from: ps1234 on March 02, 2021, 11:24:59 AM

I suppose the biggest risk to anyone, especially individuals, holding BTC, are the Governments.

While they can't easily shut down the blockchain, Governments could shut down exchanges. Likewise miners, although they would have to act together.

Yes. This is what the governments can do. If you're in a country that have ease to exchange bitcoin to cash, they can ask the exchange necessary details about their users such as data and other information that could lead to taxation or stronger regulation and the worse, are those what you've said.

Quote from: ps1234 on March 02, 2021, 11:24:59 AM

Two mitigating factors:

1. Big companies are major contributors to political parties, so big money talks.

2. Countries like Iran, Russia, North Korea and others, will step into the mining arena.

For us smaller fry, given that BTC supports decentralised protocols, might we see decentralised exchanges? Or exchanges operating in laxer jurisdictions, like The Caribbean, African countries, or nations unfriendly to US/Europe/UK?

Most likely, Governments will try and milk taxes from us all! Beware of Mr Sunak

About the decentralized exchanges, they're starting to gain momentum but they still lack of security because of the reports that some of them have been into hacking incidents.

Lanatsa

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I don't usually read up any sentiments that do came from banksters or any other institutional investors yet most like that would be always on the negative side of things.

The only line is notable into that article is this;

"We wrote that Bitcoin was familiar and welcome to younger generations and although older investors may have heard the word, they were generally less familiar with it and more skeptical."

This is actually true but as years passed those older investors aren't really blind when it comes to the opportunities right into their front.

wxa7115

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Activity: 2702

Merit: 704

Quote from: aoluain on March 01, 2021, 05:36:14 PM

this is an interesting article from one of the biggest banks in the world.
Like it or loathe it, it looks like Bitcoin is going to be overrun with institutional investors
gobbling up big quantities of coins.

Quote

There are a host of risks and obstacles that stand in the way of Bitcoin progress. But weighing these potential hurdles against the opportunities leads to the conclusion that Bitcoin is at a tipping point and we could be at the start of massive transformation of cryptocurrency into the mainstream

This is something that we have known for a very long time and during that time we were called crazy and all kind of names, it just took a global pandemic, an economic crash and governments printing money like they have never done for them to realize this, I suppose that it is better later than never right?

Quote from: aoluain on March 01, 2021, 05:36:14 PM

on a seperate note these stats are interesting

Quote

According to Visual Capitalist, it took the telephone 50 years to reach 50 million customers, 22 years for television, seven years for the Internet and just 19 days for Pokémon Go.

Things are changing, the rate at which things are moving is accelerating, even things that we could think do not deserve to be adopted quickly do so because of social media and our ability to get access to all kind of products and services from the comfort of their own home, I have seen estimates that put bitcoin way above 50 millions users which means it only took bitcoin 10 years to reach that number which means we are advancing at a good rate.

Lizzie_Girl

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I just dislike using the banking system. Crypto is much easier to use but you need to be very careful. I guess that is why it is not for everyone. I think too many people are coming to it as a quick means of making money. Though it has been creating many new job opportunities.

Quote from: ?? on ??

Until last year, many people had prejudices against all cryptocurrencies, especially btc, and even comparisons with happiness chains were in question. When we look at it today, even people who did not know about crypto money started to invest and many corporate companies, especially Elon Musk, started to enter. In short, bitcoin and other cryptocurrencies will be accepted by many corporate companies and will be integrated as a payment method.

I think it is just people who are afraid. Innovative people and risk-takers are the ones who live the lives of success.

chaoscoinz

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☆Gaget-Pack☆

It is very clear to see that major corporations and other entities with heavy influence like the institutional investors, and giant companies like Microsoft or Tesla have had their eyes set on cryptocurrency for a while, they were just waiting for a good time to buy in.
I think that the article is rather optimistic and it shows that people saw it's potential even way back then. It can only grow from here, too many have a stake in now, I just hope it isn't another bubble like 2017, it was exciting and terrible all in one, lol

DdmrDdmr

legendary

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There are lies, damned lies and statistics. MTwain

I bet nobody’s read the 108 page download that serves as the basis to the article (which is just a summary of the document’s content). I’ve only set time aside to skim read through it, but is seems elaborate and a decent enough reading, venturing over past, present and future of bitcoin.

By the way, there’s a reference within to Bitcointalk (actually, a screenshot). Clue: 10k bitcoins for a couple of p----s.

ecnalubma

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This is the phase were retail investors and banks are vocal about their huge interest in Bitcoin, slowly they learn to believe in this asset that it has a great future for every small or big investors. Its still early to get involve in Bitcoin space, but lets set aside the risk involved. The more big investors participate in the space, the more that we should be watchful because once they move their assets it could really make significant moves in the market.

ps1234

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Activity: 32

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I suppose the biggest risk to anyone, especially individuals, holding BTC, are the Governments.

While they can't easily shut down the blockchain, Governments could shut down exchanges. Likewise miners, although they would have to act together.

Two mitigating factors:

1. Big companies are major contributors to political parties, so big money talks.

2. Countries like Iran, Russia, North Korea and others, will step into the mining arena.

For us smaller fry, given that BTC supports decentralised protocols, might we see decentralised exchanges? Or exchanges operating in laxer jurisdictions, like The Caribbean, African countries, or nations unfriendly to US/Europe/UK?

Most likely, Governments will try and milk taxes from us all! Beware of Mr Sunak

androyster

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Quote from: Lorence.xD on March 02, 2021, 10:26:39 AM

Quote from: ukw on March 01, 2021, 04:52:29 PM

It really is a very interesting article and I think it can come close to the truth. We see that Institutional engagement with Bitcoin is growing more and more. As this year, the interest of financial institutions is becoming stronger and more focused. Hopefully the year will bring us more good news.

We can't be so sure about that because a lot of fuzz has been going on and companies can lobby each other and manipulate them into not investing because they are shorting bitcoin, we know that this can happen with stocks so why not with bitcoin right? I want to bet the same as you that financial institution support is going strong for bitcoin and the market as a whole but we should know that companies are not our friend.

lol, and sometimes that backfires in their faces just like Gamestop GME did.

avikz

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Quote from: ps1234 on March 01, 2021, 04:20:31 PM

This is a very interesting, balanced and serious article by Citibank.

https://www.citivelocity.com/citigps/bitcoin/

IMHO it is well worth a read.

It's good to see that global organizations like Citi Group is taking bitcoin seriously and considering it as a significant change/improvement in the financial sector. Banks are slowly understanding that they will either have to adopt crypto to stay relevant in the game or they will be left alone in due course of time!

Meanwhile, I am receiving emails from my bank about the risks of cryptocurrency and why shouldn't we use them! Just a mindset, it seems!

Lorence.xD

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Leading Crypto Sports Betting & Casino Platform

Quote from: ukw on March 01, 2021, 04:52:29 PM

It really is a very interesting article and I think it can come close to the truth. We see that Institutional engagement with Bitcoin is growing more and more. As this year, the interest of financial institutions is becoming stronger and more focused. Hopefully the year will bring us more good news.

We can't be so sure about that because a lot of fuzz has been going on and companies can lobby each other and manipulate them into not investing because they are shorting bitcoin, we know that this can happen with stocks so why not with bitcoin right? I want to bet the same as you that financial institution support is going strong for bitcoin and the market as a whole but we should know that companies are not our friend.

ps1234

jr. member

Activity: 32

Merit: 37

There was an item in the Financial Times pooh-poohing the Citibank article.

Well, they would, wouldn't they?

There was quite a strong US emphasis, but I wonder how long it will take for UK and European corporates to jump aboard?

ivankoh

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Sugars.zone | DatingFi - Earn for Posting

Quote from: ps1234 on March 01, 2021, 04:20:31 PM

This is a very interesting, balanced and serious article by Citibank.

https://www.citivelocity.com/citigps/bitcoin/

IMHO it is well worth a read.

Is it worth the wait when banking institutions seriously and fairly consider bitcoin? I think there has never been a standardized statement for this. They have always been unfairly cautious about bitcoin and crypto. Bitcoin price has no limit.
It is a falling point that anyone would try to suppress. Anyway, Citibank has taken the right views, which will create new momentum in the market. When the integration is back. The market will improve and be urged very actively.

target

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It's not so surprising that the banks are also interested in joining cryptocurrency especially now that institutions see BTC as an attractive investment. Bitcoin ins 2021 is not just an asset wannabe but they may consider BTC as reserves. It's a bit stretch but what's the point of these institutions that are trying to get as much as they could right now?

aoluain

legendary

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this is an interesting article from one of the biggest banks in the world.
Like it or loathe it, it looks like Bitcoin is going to be overrun with institutional investors
gobbling up big quantities of coins.

Quote

There are a host of risks and obstacles that stand in the way of Bitcoin progress. But weighing these potential hurdles against the opportunities leads to the conclusion that Bitcoin is at a tipping point and we could be at the start of massive transformation of cryptocurrency into the mainstream

on a seperate note these stats are interesting

Quote

According to Visual Capitalist, it took the telephone 50 years to reach 50 million customers, 22 years for television, seven years for the Internet and just 19 days for Pokémon Go.

ukw

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Activity: 616

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It really is a very interesting article and I think it can come close to the truth. We see that Institutional engagement with Bitcoin is growing more and more. As this year, the interest of financial institutions is becoming stronger and more focused. Hopefully the year will bring us more good news.

ps1234

jr. member

Activity: 32

Merit: 37

This is a very interesting, balanced and serious article by Citibank.

https://www.citivelocity.com/citigps/bitcoin/

IMHO it is well worth a read.

Topic: Citibank Article "Bitcoin At the Tipping Point" (Read 228 times)