Comparison between the wallet Balance of BANKS vs CRYPTO EXCHANGES - page 2.

solarion

hero member

Activity: 966

Merit: 513

Quote from: Indamuck on February 22, 2019, 10:52:34 AM

Banks will never be using a normal decentralized cryptocurrency, they won't be able to do fractional lending like they can with USD. Banks hold less than 10% of their total balance sheet and one day this whole system will be exposed and come crashing down.

Haha they are centralized right! so they cannot initialize themselves on decentralized platform right. Nope exactly about 10 percent olding too. They consume 2 percentage fees internationally for using their debit and credit cards. Visa and mastercard providers might be eating our money. These shit banking should be erase with blockchain.

Indamuck

hero member

Activity: 1120

Merit: 554

Banks will never be using a normal decentralized cryptocurrency, they won't be able to do fractional lending like they can with USD. Banks hold less than 10% of their total balance sheet and one day this whole system will be exposed and come crashing down.

solarion

hero member

Activity: 966

Merit: 513

Quote from: n0ne on February 21, 2019, 09:20:58 PM

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

If I'm correct we're far behind the financial institutions and we need more adoption to have a competence, as of now the technology is the key factor keeping the cryptocurrency strong in the market. With this it isn't possible to go mainstream to make a change on entire system followed throughout.

Don't use both it will consume high transaction fees like exchanges will consume high transaction for each transaction and banks also do the same in their own manner. You need to have your own crypto wallet which can be allow you make changes in the transaction fees and secured.
If you use such then it will be good option for you.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: joniboini on February 21, 2019, 10:24:13 PM

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia).

JP Morgan has 1.4 trillion in deposits.
The whole market cap of BTC (including burned coins and lost coins and satoshi's coins) is 70 billions.

There simply can't be any comparison, and this one is funny...the money (fiat) Coinbase and others have, is actually stored in a bank account. Wink

Quote from: joniboini on February 21, 2019, 10:24:13 PM

In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

So, we should compare exchanges...with NYSE? It's going to end even worse Tongue

.
Or...the forex markets?

Quote from: n0ne on February 21, 2019, 09:20:58 PM

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

Pure curiosity, what is the source for the funds those exchanges have?

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Considering that perhaps 1% or even less of the world's population uses cryptocurrency, this data does not surprise me at all. In fact we have an indication of two things, that we are very far from replace fiat with cryptocurrency, and that most of the crypto owners understand that the exchanges is not place for long term holding.

I think the second picture clearly shows current power ratio between banks and crypto exchanges or maybe even the significance of the bitcoin today. But it should not be forgotten that everything has its beginning, and that this beginning is usually not easy which proved to be quite true in the first ten years of bitcoin. This is in any case too short a time to make some serious conclusions, and I think pictures will look much better after the next 10 years.

mrdeposit

hero member

Activity: 1358

Merit: 509

Suddenly adoption is the unexpected innovation. Thus, as time passes, they will make the right choice unless there is another way.

Quote from: joniboini on February 21, 2019, 10:24:13 PM

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX.

What you say is right. The market has forced many people to hold their funds or withdraw.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Quote from: joniboini on February 21, 2019, 10:24:13 PM

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia). In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

I think it will grow eventually with more adoption. It's more important to see how the adoption is rather than looking at how much funds stored in centralized exchanges imo.

Agreed, the same time people around the world using currency is much higher than cryptocurrencies. In this regard even when people have got their funds in their own wallet there will be a big difference between the exchanges that are operating for trading more than saving. One thing that makes the change is the adoption as you've mentioned.

joniboini

legendary

Activity: 2170

Merit: 1789

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia). In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

I think it will grow eventually with more adoption. It's more important to see how the adoption is rather than looking at how much funds stored in centralized exchanges imo.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

If I'm correct we're far behind the financial institutions and we need more adoption to have a competence, as of now the technology is the key factor keeping the cryptocurrency strong in the market. With this it isn't possible to go mainstream to make a change on entire system followed throughout.

Topic: Comparison between the wallet Balance of BANKS vs CRYPTO EXCHANGES - page 2. (Read 261 times)