Our present financial system should not be thinking of cryptocurrency as a threat. Cryptocurrency can be a huge help to the system we now have, and that it will always co-exist in every way.
I do believe that crypto has given a threat to traditional financial system somehow but it's not enough to replace it. The traditional financial system is here to stay because it's the most demand by the people and crypto could be a great help too having it as an alternative payment system where some people find it more convenient. 
Topic: Do you really think crypto stand a chance agaisnt the financial system (Read 709 times)
November 19, 2020, 06:28:31 AM
November 19, 2020, 08:00:01 AM
I don't think that cryptocurrency is against the financial system because cryptocurrency serves as the best solution for the alternative financial system to save our assets from further collapse. Like what happened this year of 2020, the stock market and banking system have suffered from the coronavirus crisis, but the crypto market, especially bitcoin, still manages to have a stable value.
There is no need to stand against traditional financial system. Cryptocurrency is naturally the best alternative for classic payment methods, even the e-wallets. I believe that soon, even the banks will use it and offer clients opening crypto accounts.
I have read such information that banks already offer their services for storing cryptocurrencies. But at the same time, no Bank offers cryptocurrency lending services yet. It is this popular niche that has been filled by decentralized finance.
November 19, 2020, 07:00:09 AM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
The financial system and cryptocurrency are tools for people to transact and move their funds, it's not against each other, both coexist to provide more alternatives for us.
There are several advantages and disadvantages for both systems, hence both should be used to collaborate in order to complement each other's deficiencies.
Although not all countries issue comprehensive regulations regarding the use of cryptocurrencies, several governments have issued rules regarding cryptocurrency transactions, although most govern transactions on exchanges, kyc, money laundering, and taxes.
November 18, 2020, 10:22:48 PM
Our present financial system should not be thinking of cryptocurrency as a threat. Cryptocurrency can be a huge help to the system we now have, and that it will always co-exist in every way.
November 18, 2020, 05:32:17 PM
Yes I really think that crypto has a chance to change this world! It's what I believe in, and it's what I am preaching around, and believe I meet with very stubborn, conservative, people!
Long story short, last night my good friend was telling me his view of bitcoin! It's a conspiracy theory, I can't even repeat all his words... in the end I told him if he really thinks all
that about btc, he should buy ethereum...and if he thinks that ethereum is run by the same people he can choose digibyte! This is a free crypto world, you can choose whom you wish to support! You can research all of them and find the one you think it's the best, and that can help in creating a better world for us all, if you find it buy some coins/tokens and support the project!
So I will tell you the same thing! It's how you change the world, you find something good and you stick to it! I support you if you choose bitcoin, and I will support you if you choose some other alt, but just don't sell me the story about fiat currencies, I know enough and I know that we need changes!
Long story short, last night my good friend was telling me his view of bitcoin! It's a conspiracy theory, I can't even repeat all his words... in the end I told him if he really thinks all
that about btc, he should buy ethereum...and if he thinks that ethereum is run by the same people he can choose digibyte! This is a free crypto world, you can choose whom you wish to support! You can research all of them and find the one you think it's the best, and that can help in creating a better world for us all, if you find it buy some coins/tokens and support the project!
So I will tell you the same thing! It's how you change the world, you find something good and you stick to it! I support you if you choose bitcoin, and I will support you if you choose some other alt, but just don't sell me the story about fiat currencies, I know enough and I know that we need changes!
November 18, 2020, 05:11:48 PM
Cryptocurrency is considered as a threat by the banking firms as well as the governments. This needs to change, because people don't get the true meaning for which cryptocurrencies got innovated. Cryptocurrencies isn't a threat, it needs to function along with the banks or else needs to get associated with the banks. It is something an alternate to the financial system, because everyone doens't like the banking services and doesn't wish to stick on it.
November 18, 2020, 05:05:53 PM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Before this COVID 19,the crypto currency had not have huge impact on cryptocurrency.Not only theory,but also in real ,bitcoin his impact on crptocurrency.Because of such condition,many country government regulating crypto currency.
November 18, 2020, 01:42:07 PM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
If the cryptocurrency didn't have a chance, it would have died long ago. In a constant struggle, it develops and takes markets away from traditional trade.
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November 18, 2020, 10:56:15 AM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Firstly, cryptocurrency was not created to be a threat to the banks or financial institutions and it was created as an innovative alternative solution for economic meltdown which will make people financial freedom which I believe the trend posed by Bitcoin during the total lockdown caused by the pandemic has already proved Bitcoin benefit.With that been said, no genuine crypto enthusiast was just interested in Bitcoin creating enough hype so more investors may join for the purpose of its price to skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Crypto never poses any threat to the banks/institutions but it the institutions that see crypto as a threat due to its potentials and we don't by chance need any regulation. 
November 18, 2020, 05:56:14 AM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Everything you have said here is 100% true. Just forget about all these people that be acting like they are addicted to Bitcoin, Bitcoin addicts or whatsoever they call them. These people are just interested in what they will gain, if there is nothing to gain they wouldn’t be here. If they are mainly here because of the technology and because they like the idea of using Bitcoin for transactions, why don’t they switch to stablecoins?Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
They won’t do that because what they need is profit. Imagine that we all stop making use of centralized exchanges and switched to DEX's, and be using Bitcoin mainly for transactions more than we Hodl, it’s going to become a threat for them.
November 18, 2020, 05:23:40 AM
Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
Crypto is not at all threat to the traditional financial system right now, or wouldn't be soon too. Any new system takes a long time to cement its place in the market. As digital technology is expanding rapidly and more and more people have been getting access to these technologies, so they are trying new systems such as crypto. But it hasn't gained their confidence as yet compared to the traditional financial system. A lot of people are very sceptical about it, as most of the governments are not very supportive of crypto.
November 18, 2020, 01:32:31 AM
Cryptocurrencies are much more than just BTC, ETH, etc. It’s a tech.
The main thing in cryptocurrencies is not the name or the number of dollars per coin on exchanges, but the technology and what it can offer to the "classic" finance system. Do not listen to those people who say that they dream of seeing BTC as the world's reserve currency. Better listen to those who suggest changing SWIFT to a blockchain architecture to speed up the payments through an interbank international channel, those who suggest VISA to improve its security through smart contracts, or those who offer to conduct tenders and auctions through a similar infrastructure to ensure cleanliness and transparency.
The future is not in the coins that are in your wallet, but in the very essence of architecture and technology as such.
The main thing in cryptocurrencies is not the name or the number of dollars per coin on exchanges, but the technology and what it can offer to the "classic" finance system. Do not listen to those people who say that they dream of seeing BTC as the world's reserve currency. Better listen to those who suggest changing SWIFT to a blockchain architecture to speed up the payments through an interbank international channel, those who suggest VISA to improve its security through smart contracts, or those who offer to conduct tenders and auctions through a similar infrastructure to ensure cleanliness and transparency.
The future is not in the coins that are in your wallet, but in the very essence of architecture and technology as such.
November 18, 2020, 01:20:57 AM
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It'll just co-exist. Though many regulations happened already like banning of cryptocurrencies, in other countries, for sure it'll just co-exist with our banks these days and any sorts of digital payments using local currency of each respective countires. It's impossible for it to replace nor be against the other because both have different aim and functions differently. One, depends on the coin, is decentralized and the other is regulated. Coins like Bitcoin is for sure decentralized.
November 17, 2020, 11:23:24 PM
Traditional financial system is very vast where crypto is just an area of the system,Cryptocurrency is a sub set of the financial system.
November 17, 2020, 07:05:37 PM
The wrong concept that most people do have in their minds is that fiat and crypto are two competing types of currencies that is why they keep on bumping those two against each other in a way that they always keep on comparing the two types of currencies bringing out the flaws which causes issues and commotion between those two where in reality, those two currencies can co-exist without letting the other to be set aside or be left behind. Crypto is not playing as a large threat to the fiat system. It is just on the minds of the people thinking of such idealization. Both crypto and fiat have their own usages and benefits and people are the ones to decide which suits their preference. Crypto can get along with fiat, and so fiat with crypto.
November 17, 2020, 07:01:22 PM
Just the way of PayPal, imagine PayPal gaining more customers from crypto communities and vice versa. That's a win for the both parties but whenever i heard influencers says bitcoin will do to Banks what email do to postal service, I don't see it happening anytime soon.
It is just wishful thinking that bitcoin will replace banks, anyone who understand the basic principle why banks are functioning will not come up with that claim but bitcoin as a technology will make major changes in the financial sector.Cryptocurrency replacing banking system is just like saying Gold is replacing Banks which really sound ridiculous.
Banks has vault where tons of Gold are been save, wouldn't it be wise for them to give crypto services and be win for both parties. Bitcoin aren't taking down banks and vice versa.
Gold is not a decentralized currency or a market place which is limited in nature Banks has vault where tons of Gold are been save, wouldn't it be wise for them to give crypto services and be win for both parties. Bitcoin aren't taking down banks and vice versa.
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November 17, 2020, 06:08:32 PM
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??
There is a lot of regulations already. Before you didn't need to give personal informations to exchanges, casinos and other crypto sites, but now you have to do this because regulations.The authorities already want to know who uses crypto currency, how much they have, where their crypto currencies are and they also want a big slice of your crypto currencies earnings (taxes). They do this through regulations. I can't say they are feeling threated by crypto currency, but like you, crypto enthusiast, the government and financial system want profit from crypto currency too and that is why I believe on long run crypto will be incorporated to the financial system and it will become mainstream.
November 17, 2020, 08:41:49 AM
There are already a lot of regulations in place as of this moment. That signifies one thing, that crypto has a place under the sun and the power in society has noticed it. But the point is that the governments are putting up limited regulations because they have yet to really understand how things with crypto work. They are yet to become sufficiently familiar with it. In fact the misplaced regulations right now are reflections that they have not understood the design yet.
November 17, 2020, 08:40:54 AM
cryptoqurrency investors are only interested in profits and nothing more. as we know that cryptourrency is a new profitable investment tool, although not all of it will be in the use cases that investors are interested in profits and some may be in adoption as well.
November 17, 2020, 08:35:55 AM
They will in the future coexist in this world becasue the two are what we need for a better change we been clamored for in the past. The traditional system will be for those with interest while the digital(cryptocurrency) will be for those in need for change. In my honest candid opinion, the two financial system won't conflict each other in future, rather the two will coexist for the betterment of the financial world.
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