Hello crypto! Bye bye credits? - page 10.

Nick Abimanyu

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Quote from: recoal on June 09, 2018, 09:16:02 PM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

The government will blockchain tech anywhere except banking......they don't deny tech .... the thing is they can' t believe a tech like this for their monetary system

You're right it's not difficult for them to do this kind of thing.
Like blockchain technology because blockchain technology can be implemented into their own banking system.
Not that they do not believe, but they are not able to exploit and explore the benefits of bitcoin.

Cryptoreflector_666

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Quote from: moonami on July 29, 2018, 04:46:49 PM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I think this idea is not appropriate. Loaning on a cryptocurrency maybe way difficult than loaning on banks. Also if this will happen, Bitcoin or cryptocurriencies should have more security for the safety of its loaners.

Of course, the security and guarantee on the part of the borrower should be at the level of official Bank documents, but at the moment the crypto-currency market can not provide even close to something like that, if we take into account such facts as theft of crypto-currency from wallets or simply a banal loss of password. This moment must be settled.

moonami

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Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I think this idea is not appropriate. Loaning on a cryptocurrency maybe way difficult than loaning on banks. Also if this will happen, Bitcoin or cryptocurriencies should have more security for the safety of its loaners.

Cryptoreflector_666

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Activity: 728

Merit: 24

Quote from: kelenikels on July 29, 2018, 04:32:08 PM

Money through credit card/ Bank account/ Savings converted to crypto and crypto converted back to crypto when it's needed and this method will continue to exist as long as the government won't make a law that converted all money to somewhat the same with crypto.but if i were you who wants to make a debt to ico i will review the condition very hard to understand all of the consequence.

The consequences are such that without certain legislation or at least a well-established system (completely transparent and logical in each step and action), no one will issue a loan without a guarantee of its return. Even if the percentage is very high, that the cryptocurrency market at this stage can afford.

Cryptoreflector_666

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Quote from: indopool on July 29, 2018, 11:15:20 AM

I do not think that banks will support decentralized cryptocurrency anytime in the near future. When it comes to loans, salary, I think we will see some smart contracts to facilitate repetitive tasks. Blockchain based cryptocurrency is still in the basic stages of development and I believe that these things are here to stay. On the other hand, banks will adopt blockchain technology to optimize their current infrastructure but still.

If banks still start the official use of cryptocurrencies for their commercial purposes ( including lending), then there will certainly be another alternative. After all, by and large, cryptocurrency is an alternative to Fiat currency with huge advantages in video anonymity of use, absence of taxes and decentralization.

Cryptoreflector_666

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Quote from: @oweljayr on July 29, 2018, 11:01:59 AM

You said hello crypto and bye bye credit right? But then you were asking about loan with cryptocurrency? So logically it is not good bye credit totally. I don't think there would be such crypto banks from where we could get loans or such as well, and if there is, we could as well get our selves drowned from loan or credit, the way we do with regular currencies.

Banks will remain afloat in any case, in whatever direction the development goes. The only thing is that the Bank will be more profitable - to use the crypto-currency market for its commercial purposes and interests or to go against innovations and development to maintain its position in the financial world market. We will see this in the future, but the Bank is only acting in the direction of benefits. A fact.

kelenikels

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Money through credit card/ Bank account/ Savings converted to crypto and crypto converted back to crypto when it's needed and this method will continue to exist as long as the government won't make a law that converted all money to somewhat the same with crypto.but if i were you who wants to make a debt to ico i will review the condition very hard to understand all of the consequence.

Cryptoreflector_666

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Quote from: rolls89 on July 29, 2018, 10:56:34 AM

The question mark behind your subject says it all.How is it possible that Crypto can kill the banks?Banks are here to stay.Still in many second and third world countries banking has not reached to every nook and corner.The banking might adopt Crypto's but crypto eliminating bank seems a vague possibility

Why do you think that? History knows many precedents when new, more advanced and promising technologies drove out of the way old, outdated technologies. It is so obvious that even examples should not be given. Yes, of course, the Bank is a fundamental body, but credit is just a tool that sooner or later will be improved and updated. And, in my opinion, the cryptocurrency will play an important role here.

Cryptoreflector_666

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Quote from: FO4R on July 29, 2018, 10:53:22 AM

if banks may own a series of cryptos in their bank accounts,it wouldnt consider as decentralized because the banks has the access or controlled about the flow of cryptocurrencies that may result to the lending of some people who acts as bank clients.Thus,making cryptocurrencies as a major resources for businesses that may result to a financial growth of each economy.

The flow of crypto conversions from the Bank will not greatly affect the situation on the market as a whole, since in the crypto currency it does not matter who has a controlling stake and all that thanks to decentralization. Even if you have 90% of the coins of this or that company, without a quick transfer of transactions it will be a dead useless cargo.

indopool

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I do not think that banks will support decentralized cryptocurrency anytime in the near future. When it comes to loans, salary, I think we will see some smart contracts to facilitate repetitive tasks. Blockchain based cryptocurrency is still in the basic stages of development and I believe that these things are here to stay. On the other hand, banks will adopt blockchain technology to optimize their current infrastructure but still.

@oweljayr

newbie

Activity: 215

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You said hello crypto and bye bye credit right? But then you were asking about loan with cryptocurrency? So logically it is not good bye credit totally. I don't think there would be such crypto banks from where we could get loans or such as well, and if there is, we could as well get our selves drowned from loan or credit, the way we do with regular currencies.

rolls89

jr. member

Activity: 224

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The question mark behind your subject says it all.How is it possible that Crypto can kill the banks?Banks are here to stay.Still in many second and third world countries banking has not reached to every nook and corner.The banking might adopt Crypto's but crypto eliminating bank seems a vague possibility

FO4R

newbie

Activity: 82

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if banks may own a series of cryptos in their bank accounts,it wouldnt consider as decentralized because the banks has the access or controlled about the flow of cryptocurrencies that may result to the lending of some people who acts as bank clients.Thus,making cryptocurrencies as a major resources for businesses that may result to a financial growth of each economy.

Cryptoreflector_666

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Quote from: zalizoll on July 29, 2018, 10:29:53 AM

although bitcoin is completely dependent on the Fiat currency, we can not say anything reliable in this respect. It is possible that the situation will change towards the end of the year, this is merely a forecast that tends not to materialize.

bitcoin depends not only on Fiat currencies, but also on altcoins. As you know, when large amounts are poured into the altcoins, the bitcoin rate falls very rapidly down, and when the cash flows are sent to bitcoin, the fit currencies fail. It's like a swing, which must be very carefully monitored, that would earn good money.

Cryptoreflector_666

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Quote from: Cotton Candy on July 29, 2018, 10:20:27 AM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

It will be hard to restore the cash if the digital money rate stays as unique. For instance, you will take a credit in bitcoins, and the coin will grow 3 times. In the event that under the terms of the agreement you need to restore the advance in a similar tomb, at that point you will likewise win from this. What's more, if the sum ought to be returned in Fiat, at that point there might be challenges.

The terms of the contract should be clearly and clearly spelled out the rules of lending in cryptocurrency. If you take the coin and have to return it to the coin, the terms will be the same. But if you take the equivalent of FIAT money in cryptocurrency coins, the conditions will be quite different. This is the main point, which is worth paying attention to when it comes to lending in the crypt.

Cryptoreflector_666

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Quote from: acord00 on July 28, 2018, 10:31:15 PM

I find that it very difficult to implement a loan system in crypto currency because the crypto currency system itself is decentralized. If the crypto currency system is centralized so it will be easier to apply the loan model in crypto currency. I am also more pleased if the crypto currency system is centralized because indirectly we get a guarantee of the crypto currency that we have. The price of the crypto currency will also become more stable and the credit system easier to implement.

Stable price on the cryptocurrency market so far seems only a fantastic fairy tale. According to the latest data from the international financial organization cryptocurrencies are waiting for more strong aftershocks in the area of the course, therefore, hopes for calm in the cryptocurrency is still very early.

Cryptoreflector_666

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Quote from: BryanRoseWalker on July 28, 2018, 10:08:40 PM

Quote from: Dessy Nurvianti on July 28, 2018, 09:35:59 PM

I think cryptocurrency isn't have loan because if you take loan at high price you must return it at high price too and how if you take loan at high price and you want to return it but price is low at time? will possible sometime ahead that price will raise? not necessarily, therefore i think cryptocurrency is not have loan because the price isn't stable.

there are already many fintech that use crypto currency, but the loan system still uses the assumption of fiat value. This is still confusing but the reality is like that, but unfortunately this business is still illegal and can not be accounted for, but the fluctuation factor should have been understood by both parties who agree.

Trading in cryptocurrency is a very pleasant innovation over the past few years, however, there is still no great progress in the field of lending. A lot of projects and people are channeling their energy and resources into this area, but apart from a few outstanding projects, we have nothing to discuss yet. However, in the future, I personally very much hope for progress in the field of lending in cryptocurrency.

Cryptoreflector_666

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Quote from: Dessy Nurvianti on July 28, 2018, 09:35:59 PM

I think cryptocurrency isn't have loan because if you take loan at high price you must return it at high price too and how if you take loan at high price and you want to return it but price is low at time? will possible sometime ahead that price will raise? not necessarily, therefore i think cryptocurrency is not have loan because the price isn't stable.

If you make the binding of the loan in cryptocurrency to the Fiat currency, then the principle issue can be solved. For example, you take$ 8000 which is currently equivalent to 1BTC. And you have to return the same will be $ 8000, regardless of how much it will cost bitcion at the time of return. It can grow and fall, but the amount of the loan should not affect. You know?

Cryptoreflector_666

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Quote from: Napole0n on July 28, 2018, 09:18:54 PM

It must be admitted that the number of cases of credit card theft increasingly vibrant, this is what makes crypto easily accepted by everyone so popular in a short time.

That's right, the case of credit card theft is really very large according to the latest statistical research and this area, however, in the field of cryptocurrency fraud and deception are also very large. You may recall nedavnego the story of cryptobiosis who stole about 100 thousand dollarov in cryptocurrency. It's really worth taking care of. Security is paramount in the digital world.

Cryptoreflector_666

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Quote from: Kasliono on July 28, 2018, 09:12:34 PM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

When the thing you said happening, then it would be a company who is running a loan by using a cryptocurrency, maybe it will be a bank itself, or the new company. So, there is a big chance to do it.

If there will be a Bank that owns the vast majority of cryptocurrencies, it will no longer be a decentralized system, but an ordinary digital payment system like the ones we know now. The advantage of bitcoin is that it is decentralized unlike the usual Fiat currencies. Even if in digital form-it does not matter much. The essence does not change.

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