Finanacial System - page 2. | Bitcointalksearch.org

cryptosolo

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Quote from: Idrisu on March 09, 2017, 03:32:05 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

The financial system for bitcoin are:
Decentralization; because of this nature or characteristic no single country or individual can control bitcoin it has live of it own.
Low fees; because of high fee charge by western union money transfer and moneygram etc. Bitcoin financial system come to resolve this by offer low fees on transactions.

Thanks

cryptosolo

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Quote from: el kaka22 on March 10, 2017, 06:25:17 AM

Quote from: pinkpanther03 on March 10, 2017, 03:26:06 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

For me bitcoin is giving us a way to financial freedom in the long run, by simply keeping some of bitcoins because it is unregulated decentralization, which means we are the one, we are the key also to make our savings be in progress someday once the price increase like a skyrocket going to the moon. Grin

Yes, I am also not finding any threats from bitcoin to individual people's economy as well as for a nation's. Bitcoin is just a payment system like what the had in the past like Liberty reserve or currently what we are using like Paypal. Additional to these payment systems, bitcoin has some unique features that does not mean bitcoin will disturb financial system of the country nor an individual person.

People are finding financial freedom by saving bitcoin. I believe this benefit from bitcoin will be available for every person for at least next hundred years. So, there will be no meaning of suspecting about bitcoin's potential and features.

Thanks and hope this benefit from bitcoin will be avilable for atleast next hundred years.

jack1111

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

Maybe because it is out of the control of governments, as well as the digital nature of Bitcoin made it the easiest way to transfer the illegal money. We can not deny that Bitcoin has some disadvantages, but the governments started to recognise that they can not kill or stop Bitcoin, so they are trying to regulate or dominate it, for example China.

BingoDog

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Bitcoin is not the threat to current financial system, it's something different, the alternative, something that we have never had before. The reason why financial establishment is afraid of bitcoins is competition because now people have the choice and some rules have changed.

deisik

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Quote from: Przemax on March 09, 2017, 04:31:57 AM

I would say that bitcoin pose no real danger to the financial system. In my opinion the bitcoin as the alternative to the financial system just gives the idea about how many people are discontented with the fiat status quo. Ofcourse showing discontency is in itself destabilising for the system that is based on the faith - fiat

Quote from: Przemax on March 09, 2017, 04:31:57 AM

There is a small additional threat to the fiat financial system. There is a disconnection of real money (of bitcoiners) from the system, that before the existance of bitcoin had provided the liquidity on the markets. That can pose additional destabilisation to the system that need to print more fake money to compensate for the loss of liquidity of money leaving the system

In fact, it works exactly the other way around

And it is a real danger to the financial system based on fiat that Bitcoin threatens it with. More specifically, Bitcoin (if it is set to expand, of course) would be crowding out fiat (whatever local currency is used in the area which gets infested with Bitcoin), i.e. more, say, dollars would be chasing less goods (because Bitcoin will be used where the dollar has been the king before), and then the "system" would have to unprint more money, i.e. diminish money supply, not expand it. That's how things are going to stand in real life if Bitcoin starts to seriously compete with fiat currencies

pinkflower

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Quote from: Przemax on March 09, 2017, 04:31:57 AM

I would say that bitcoin pose no real danger to the financial system. In my opinion the bitcoin as the alternative to the financial system just gives the idea about how many people are discontented with the fiat status quo. Ofcourse showing discontency is in itself destabilising for the system that is based on the faith - fiat.

There is a small additional threat to the fiat financial system. There is a disconnection of real money (of bitcoiners) from the system, that before the existance of bitcoin had provided the liquidity on the markets. That can pose additional destabilisation to the system that need to print more fake money to compensate for the loss of liquidity of money leaving the system.

You can say that bitcoin provides more destabilization to already very unstable system. The system is meant to fall. Every expert on the subject is completly amazed how long does this unstable fiat financial system works. It should have failed a long time ago.

I dont think BTC can pose a threat to destabilize the present system. But what BTC can do is provide a channel for the darknet to move value and makw payments without needing the financial system. That is far from destabilization. It is more like enablement of the underserved.

jacafbiz

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Quote from: Pettuh4 on March 09, 2017, 05:41:04 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

Simple, they'd be rendered obsolete by Bitcoin in the near future because they are failing to be innovative.

The main thing is control, to say obsolete means Bitcoin too is obsolete because Bitcoin derived its value from the fiat currency which is created by this system. Also most of these guys running this system are the very best in their field

batang_bitcoin

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

I can't picture it out what will be the financial threat from bitcoin if the government is going to limit the usage of crypto in their jurisdiction. They can simply create a bill that limiting people who uses bitcoin. It's also decentralized that's why it will not be a threat to the financial system, maybe there's one threat, I guess with taxation.

el kaka22

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Quote from: pinkpanther03 on March 10, 2017, 03:26:06 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

For me bitcoin is giving us a way to financial freedom in the long run, by simply keeping some of bitcoins because it is unregulated decentralization, which means we are the one, we are the key also to make our savings be in progress someday once the price increase like a skyrocket going to the moon. Grin

Yes, I am also not finding any threats from bitcoin to individual people's economy as well as for a nation's. Bitcoin is just a payment system like what the had in the past like Liberty reserve or currently what we are using like Paypal. Additional to these payment systems, bitcoin has some unique features that does not mean bitcoin will disturb financial system of the country nor an individual person.

People are finding financial freedom by saving bitcoin. I believe this benefit from bitcoin will be available for every person for at least next hundred years. So, there will be no meaning of suspecting about bitcoin's potential and features.

pinkpanther03

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

For me bitcoin is giving us a way to financial freedom in the long run, by simply keeping some of bitcoins because it is unregulated decentralization, which means we are the one, we are the key also to make our savings be in progress someday once the price increase like a skyrocket going to the moon. Grin

Mometaskers

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I don't think it's much problem for the government since they are GOVERNMENT, they can regulate it if they want to and whatever happens, they'll get a slice of the pie. The financial institutions that might be affected would be bank. Imagine if people just store their wealth in bitcoins in their hardware wallets. That's a lot of money out of the banks hands. That would still be many years from now though and banks still have services that are still in infancy in bitcoin, for example loans.

Gotottack

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Quote from: calkob on March 09, 2017, 09:13:41 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

There are lots but to me the main treat is the loss of control over what the general public do with their money. Especially from fees for world wide remittance which is a massive industry.

Treats means some kind of rewarding food. Just saying. Cheesy

Anyway, financial systems in governments don't really have that much influence over the financial system of the country it is in. What they do to promote some aspect of the system is that they offer some kind of incentives for some action. For example, if they want to lower money in circulations, they raise interest on treasury bonds. This cannot be done in bitcoin, but the problem is that bitcoins are just driven by supply and demand. It is not backed up by anything. That is why the prices of these are just fluctuating so much.

calkob

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

There are lots but to me the main treat is the loss of control over what the general public do with their money. Especially from fees for world wide remittance which is a massive industry.

Denker

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

The threats? That there is a system out there they can not have any control of, pull the plug, and what's most threatening for those elites, everybody around the world can have access to it!
Banks made a fortune over several hundreds of years and were the financial gods! They decided, together with the politicians, how wealthy and properous the rest of us were allowed to live.With open decentraized cryptocurrencies there is a small possibility to escape out of that cage!
This doesn't mean you will not have to follow the rules, but cryptos may give you a chance to live with more independence and financial freedom.

Xester

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

Financial system is a very complex kind of system and even bitcoin is also a part of that. But if we want to really look into the details bitcoin is not a threat to the traditional financial system rather it will help in solving many problems that underlies the fiat financial system. Due to this some countries are already studying bitcoins due to its potential in the financial payment system.

Ayers

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bitcoin will be a threat to the bank world when people will acknowledge bitcoin and start to use for shopping, this will happen when amazon will begin to accept bitcoin, and when many people will get rid of their card and get rid of paypal account and other service liek paypal, if thse service beign to fall bitcoin will be a success

Pettuh4

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Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

Simple, they'd be rendered obsolete by Bitcoin in the near future because they are failing to be innovative.

Przemax

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I would say that bitcoin pose no real danger to the financial system. In my opinion the bitcoin as the alternative to the financial system just gives the idea about how many people are discontented with the fiat status quo. Ofcourse showing discontency is in itself destabilising for the system that is based on the faith - fiat.

There is a small additional threat to the fiat financial system. There is a disconnection of real money (of bitcoiners) from the system, that before the existance of bitcoin had provided the liquidity on the markets. That can pose additional destabilisation to the system that need to print more fake money to compensate for the loss of liquidity of money leaving the system.

You can say that bitcoin provides more destabilization to already very unstable system. The system is meant to fall. Every expert on the subject is completly amazed how long does this unstable fiat financial system works. It should have failed a long time ago.

Kasabus

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Quote from: Idrisu on March 09, 2017, 03:32:05 AM

Quote from: cryptosolo on March 09, 2017, 01:55:23 AM

What are the threats for financial system from bitcoin?

The financial system for bitcoin are:
Decentralization; because of this nature or characteristic no single country or individual can control bitcoin it has live of it own.
Low fees; because of high fee charge by western union money transfer and moneygram etc. Bitcoin financial system come to resolve this by offer low fees on transactions.

That strength of bitcoin has never threaten the current financial system under a centralized system controlled by the government, in fact they are interested with the blockchain technology and they will probably gonna copy it. Even how good that system is, there is no one that will replace the government as they are the most powerful in this world and they run our countries. So, let's not think bitcoin will change the world because of its strength and it will never happen.

genny2kuk

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Bitcoin takes away the control that the financial have. This same control gives them the ability to decide who gets what, at what price, and under what conditions. The financial players and regulators see the decentralization of bitcoin as a major threat, and they will continually seek out ways to bring bitcoin into 'subjection'

Topic: Finanacial System - page 2. (Read 1733 times)