The presence of Bitcoin has actually brought another option in the world of finance or in the world of payment transactions and has become an alternative way for those who don't like a centralized system.
Bitcoin also brings transparency in transactions and still protects the personal information of the transaction perpetrators. and this is what makes Bitcoin even more popular.
But Bitcoin cannot be controlled by one party because it is decentralized. and maybe for a group that is accustomed to controlling the financial system, bitcoin it makes them uncomfortable. So that a lot of fud is spread to vilify Bitcoin. despite all that Bitcoin is just a currency in the digital world. so that bitcoin itself cannot be blamed if someone uses it for crime. because criminals also use regular fiat in their crime transactions. the one to blame is the one who did the evil himself. But somehow Bitcoin is always more cornered or blamed by a certain party.
even though the presence of bitcoin actually makes us move forward into a world that is more sophisticated and practical. but the pros and cons have become commonplace. and these two things are natural if there are always. and the presence of bitcoin for me has given a fuller color to the financial system.
Topic: Is Bitcoin Disrupting our Financial Landscape? - page 2. (Read 297 times)
Bitcoin indeed has multiple benefits. But when it comes to provide banking to unbanked community, I don't think bitcoin can help in a big way. It can definitely help to some certain extent where internet is available and bitcoin related financial education is available. Which is not usually the case for unbanked community.
Also cryptocurrency is a grey area for many governments, still. Unless and until we see a legal push from the government regarding inclusion into the economy, might remain as a bottleneck.
Also cryptocurrency is a grey area for many governments, still. Unless and until we see a legal push from the government regarding inclusion into the economy, might remain as a bottleneck.
Definitely it has brought mega changes to the financial system. If there wasn’t stepping in of the bigger authorities like SEC, CBDC, and overall government then we would have said that bitcoin had no impact on the global system.
But it did move all of them. Bitcoin made everyone to think about it and change the rules and regulations for every country. There are agendas about bitcoin in the Intenrational meet ups so definitely it has become something different.
As far as developing countries are concerned there are only few who are really trying to squeeze it in. For example, Nigeria, Thailand, and some part of Asia. But yes, it’s making that inevitable change which is needed in the banking system.
But it did move all of them. Bitcoin made everyone to think about it and change the rules and regulations for every country. There are agendas about bitcoin in the Intenrational meet ups so definitely it has become something different.
As far as developing countries are concerned there are only few who are really trying to squeeze it in. For example, Nigeria, Thailand, and some part of Asia. But yes, it’s making that inevitable change which is needed in the banking system.
As we all know that Bitcoin is firstly introduced to us for it's convenience and numerous benefits. Being banked or underbanked, we can still enjoy the benefits and the accessibility of transactions as long as we have access to internet. Another benefit also is the anonimity it gives to people(although some would probably say not totally). By this, it is only right to say that Bitcoin has the potential to completely transform the way we think about money and finance. Compared to what we traditionally knew about finance, cryptocurrencies and bitcoin allows an individual to participate on the global economy without much requirement that otherwise it would be impossible. Although this is beneficial for developing countries, where traditional banking services may not be available or accessible, we couldn't deny the fact that it is slowly changing or disrupting the financial structure that we knew.
what do you guys think?
what do you guys think?
I think Bitcoin has definitely had a few kinds of disruptive effects, but maybe not as many as some people here would like to think. The best one is potentially the ability for people who cannot get a bank account to store or receive funds. There are some countries where the cost to use banking facilities is extortionate and others where it can be physically difficult to be in range of a bank. For others it allows money to be repatriated from overseas while again avoiding very high fees that are not warranted but are milked by the banking institutions or currency exchangers. If anything, hopefully it has nudged some banks to reduce their unnecessary fees.
As an individual I don't think that bitcoin will be considered as what is disrupting the financial landscape because it is helpful to serve as an option to people to make transaction against the traditional protocols of using cash but in the government side, we can say that loudly as evident in some countries trying to restrict crypto usage and introducing different hardways that an individual can have access to trading bitcoin. If it was not disrupting the control of government on monitoring finance then they won't try to stop it.
If answering from a user perspective, I don't think bitcoin is distrupting at all. It fixes at some point, the nature of bitcoin fulfills a need some people can't find in fiat. The increase in scalability is widely recognized by hundreds of companies in the financial industry because bitcoin allows them to reach customers without limits.
Supposedly, all government financial services regard bitcoin as an opportunity instead of disruption, otherwise they will be overtaken by private services.
Supposedly, all government financial services regard bitcoin as an opportunity instead of disruption, otherwise they will be overtaken by private services.
The problem lies in how to buy bitcoin in those countries, there is a difference between that these countries do not have a banking system and that in these countries there are economic systems that are not recognized and here lies the problem.
Bitcoin is a good tool for transfers between these countries and preserving the monetary value of money.
Bitcoin is a good tool for transfers between these countries and preserving the monetary value of money.
Although this is beneficial for developing countries, where traditional banking services may not be available or accessible, we couldn't deny the fact that it is slowly changing or disrupting the financial structure that we knew.
what do you guys think?
No reasonable economist will ignore the fact that Bitcoin is changing the financial system, it has come as an advanced system in the finance stream, and the world has no choice but to embrace it. Although I advocate a workaround it in terms of regulation, which is the only way it could stick to a more merit side than the negative side.what do you guys think?
With regulations, economies would be recorded for the due countries and illicit transactions would reduce unlike what is happening now.
In my opinion for now is No. But in the future, it might change or disrupt some Financial Landscape. for the short term, we might see a change in the financial industry and keep changing since the problem keeps existing. and in my theory, the traditional finance system keeps exist and along with crypto industry since crypto gaining more people. but yeah it will change in here and there
Please do take note that I'm not questioning your belief towards crypto and bitcoin, either you guys believe that bitcoin will bring a huge change or not. I'm doing this to provoke conversation and to know what your thoughts regarding changes towards our traditional financial structure, and the involvement of bitcoin, it's effects on your lives and or your financial decisions/approach.
Yep, the ability to participate in the global economy without the need for traditional banking services has the potential to greatly benefit those in developing countries or those who may be underbanked. Also, the anonymity offered by Bitcoin can also be seen as a benefit for those who value privacy in their financial transactions no matter how some may argue that this anonymity is not total and there are still ways to trace transactions.
Though Bitcoin and other cryptocurrencies have the potential to disrupt traditional financial structures, it is still a relatively new technology and there are still many challenges that need to be addressed such as scalability, regulation, and security.
Still, I believe that the benefits of Bitcoin and other cryptocurrencies outweigh the challenges, and they have the potential to greatly benefit individuals and communities around the world. With any new technology, it is important for individuals and institutions to approach it with caution, but also with an open mind to its potential benefits.
Though Bitcoin and other cryptocurrencies have the potential to disrupt traditional financial structures, it is still a relatively new technology and there are still many challenges that need to be addressed such as scalability, regulation, and security.
Still, I believe that the benefits of Bitcoin and other cryptocurrencies outweigh the challenges, and they have the potential to greatly benefit individuals and communities around the world. With any new technology, it is important for individuals and institutions to approach it with caution, but also with an open mind to its potential benefits.
I think Bitcoin is created to disrupt the traditional system of money transfer where it needs a third-party financial institution to process the transaction. Bitcoin offers a boundless transaction removing third-party financial institution and making international transaction fees cheaper. So basically from that point of view, it already disrupted the financial landscape.
I think disrupt is the best term as given by this definition:
what do you guys think?
I will not use the word "disrupting", but I will say rather that it has given us another way to view our financial Landscape, another perspective to it. The word "Disrupting" gives the impression that something is hindering and causing a problem to another thing, but bitcoins are not a problem and it also does not stop you from using the normal financial channels. What bitcoin has done is that is has provided an option and a better alternative to what we know. Bitcoin has made the financial landscape better looking to me.I think disrupt is the best term as given by this definition:
Quote
dis·rupt - (of a company or form of technology) cause radical change in (an industry or market) by means of innovation.
~snip~
what do you guys think?
^ You did not understand yet what is BTC. what do you guys think?
BTC transactions can be made directly between individuals without the need for intermediaries like banks or credit card companies, this decentralized and transparent nature of BTC has the potential to disrupt traditional financial systems in several ways, but I don't like the word disrupt here, it could be an alternative to fiat.
Several ways as I mentioned could be because of lower transaction costs, faster transactions in online payment, and last global accessibility which can be across any borders. So for me, probably there is a small chance that has the potential to disrupt our financial landscape by providing a decentralized and transparent alternative to traditional financial systems.
what do you guys think?
I will not use the word "disrupting", but I will say rather that it has given us another way to view our financial Landscape, another perspective to it. The word "Disrupting" gives the impression that something is hindering and causing a problem to another thing, but bitcoins are not a problem and it also does not stop you from using the normal financial channels. What bitcoin has done is that is has provided an option and a better alternative to what we know. Bitcoin has made the financial landscape better looking to me. 
...
what do you guys think?
what do you guys think?
I totally agree that we fail at some things. Where there was no access to banking services, we should have seen an avalanche of interest in Bitcoin, but we did not see such interest in Bitcoin there. Of course, the mass adoption of Bitcoin will be completed one day, but for a while I thought that the strongest environmental conditions would be people who could not access banking services. I think I was wrong at the point we have reached today...
And what is your Financial landscape? Change is constant, and we can see other sectors change especially with the evolving of technology why should the financial system be different.
Bitcoin and Crypto-currency at large is a technological driven system of finance although the banking system has also seen improvements in there technology but the fact that the power is not given completely to the owner of the finance(decentralization) differentiates it from Crypto-currency.
Bitcoin and Crypto-currency at large is a technological driven system of finance although the banking system has also seen improvements in there technology but the fact that the power is not given completely to the owner of the finance(decentralization) differentiates it from Crypto-currency.
As we all know that Bitcoin is firstly introduced to us for it's convenience and numerous benefits. Being banked or underbanked, we can still enjoy the benefits and the accessibility of transactions as long as we have access to internet. Another benefit also is the anonimity it gives to people(although some would probably say not totally). By this, it is only right to say that Bitcoin has the potential to completely transform the way we think about money and finance. Compared to what we traditionally knew about finance, cryptocurrencies and bitcoin allows an individual to participate on the global economy without much requirement that otherwise it would be impossible. Although this is beneficial for developing countries, where traditional banking services may not be available or accessible, we couldn't deny the fact that it is slowly changing or disrupting the financial structure that we knew.
what do you guys think?
what do you guys think?
We understand Bitcoin was established and structure to better lives in the global societies but facts will never be erase in as much bitcoin has influence global economy finance that's required no special qualification to be part of the community. People have benefits from the structure and many have incurs losses from the project.
But one thing is stricken, the local banking system or services are as well very important to societies weather developed, developing and underdeveloped countries. Bitcoin only makes it easy for transactions, it's introduced global technology mechanism for exchange of goods and services.
Bitcoin is not actually slowing any financial structures because it was made to understand from the beginning that it's involved ups and downs movement threads. Is just experiencing the bearing phase which we should expects from the onset. Though the bearing has affect the financial status of many because is been long the price keeps going down.
As we all know that Bitcoin is firstly introduced to us for it's convenience and numerous benefits. Being banked or underbanked, we can still enjoy the benefits and the accessibility of transactions as long as we have access to internet. Another benefit also is the anonimity it gives to people(although some would probably say not totally). By this, it is only right to say that Bitcoin has the potential to completely transform the way we think about money and finance. Compared to what we traditionally knew about finance, cryptocurrencies and bitcoin allows an individual to participate on the global economy without much requirement that otherwise it would be impossible. Although this is beneficial for developing countries, where traditional banking services may not be available or accessible, we couldn't deny the fact that it is slowly changing or disrupting the financial structure that we knew.
what do you guys think?
what do you guys think?
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