Topic: Crypto renders UK and all Non Crypto Banks to Second Class monetary status (Read 528 times)
August 06, 2015, 05:43:42 AM
It's not going to render them second class because regardless people are still going to to use banks because they see no need or have any desire to use bitcoin. For most people they just don't really seem to care about how the monetary system works and see it as working fine so why change it (even though it isn't fine and is based on debt and printing money on a whim).
August 06, 2015, 04:54:26 AM
this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care.
Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this)
The reality of things is we are stuck at being a small group of geeks, enthusiast, nerds and investors. We are 1 to 2 decades away from BTC being mainstream. Look at it from a positive side tho, it just means we are way ahead of the pack. It took exactly that for the internet to be seen as something cool and normal, before it was all nerds etc.
Thats exactly the point.Its not very often that you get the chance to be a pioneer and at the forefront of a potential global reformation technology.
Think the key word here is 'potential' it is true that the everyday person simply does not take the time to get involved and understand some of the things that are crucial to their lives. Politics, currency, unemployment and so on until it directly affects them. Slowly but surely as countries fall into issues as we have recently seen with Greece, Bitcoin or a variation of Bitcoin will bring everyone together in a future of the Blockchain.
August 06, 2015, 04:46:16 AM
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care.
Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this)
^ They are some very good points. People aren't bothered about how the monetary system works just aslong as they can go shopping and spend money, many do have trust in the banking system although they shouldn't
The technology side is now here to move away from the banks but we need to keep developing and find a way to bring bitcoin to the masses not only as something for them to access but to use in everyday life
August 05, 2015, 08:29:50 AM
this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care.
Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this)
The reality of things is we are stuck at being a small group of geeks, enthusiast, nerds and investors. We are 1 to 2 decades away from BTC being mainstream. Look at it from a positive side tho, it just means we are way ahead of the pack. It took exactly that for the internet to be seen as something cool and normal, before it was all nerds etc.
Thats exactly the point.Its not very often that you get the chance to be a pioneer and at the forefront of a potential global reformation technology.
August 04, 2015, 10:21:52 AM
this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care.
Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this)
The reality of things is we are stuck at being a small group of geeks, enthusiast, nerds and investors. We are 1 to 2 decades away from BTC being mainstream. Look at it from a positive side tho, it just means we are way ahead of the pack. It took exactly that for the internet to be seen as something cool and normal, before it was all nerds etc.
August 04, 2015, 08:08:56 AM
they are now just printing presses required for emergency times
not even the electronic banking units are rquired anymore
and they are fairly pathetic anyway
Out monetary system is laughable even without this. After all only small share of money is present on the market as physical objects, more money are present as totally virtual numbers floating around cyberspace.not even the electronic banking units are rquired anymore
and they are fairly pathetic anyway
In case of hackers attack these money are gone, in case of crisis these money are lost. How this state of things can be considered legit I wonder...
August 04, 2015, 08:00:44 AM
this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care.
Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this)
August 04, 2015, 07:43:39 AM
this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
August 04, 2015, 07:37:56 AM
they are now just printing presses required for emergency times
not even the electronic banking units are rquired anymore
and they are fairly pathetic anyway
not even the electronic banking units are rquired anymore
and they are fairly pathetic anyway
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