Well if he issues this statement really, then this is a bold move coming from a leader who's nation is very controversial. But I have to disagree with him. Crypto will not make banks obsolete. It can't. What I'm seeing is that banks will not to appreciate bitcoin, but will be very interested behind the technology, - Blockchain.
And I think he also see's bitcoin as bubble. Everyone is really thinking the same. Bubble or not. Bitcoin is really here to stay for good. Specially that lots of institutional firms are getting into the act of accepting and offering bitcoin future contracts that solidifies bitcoin or crypto staying power in the public.
Topic: Israeli PM: Bitcoin Could Replace Banks - page 4. (Read 497 times)
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I think this is the first time a PM makes such a statement.
https://cointelegraph.com/news/israeli-pm-bitcoin-could-replace-banks
In a video published on Tuesday, Israeli Prime Minister (PM) Benjamin Netanyahu claimed that the operation of traditional banks will eventually become obsolete and could be replaced by Bitcoin. He based his claim on the trustless nature of Blockchain technology and on Bitcoin’s continuous, notable growth this year.
In the video, Netanyahu stated confidently that banks will eventually become outmoded and be replaced, though when and by what exactly remains to be seen:
“Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
...
“The truth behind what I just said is what’s propelling Bitcoin upwards.”
However, the prime minister also expressed doubt in the ability of Bitcoin to continue growing at such an astonishing rate, stating:
“There’s nothing like this, that will continue rising at this rate, it can’t happen.”
I’ve tried to watch the video to see if the article is interpreting well Netanyahu’s statements, but it seems it is in Hebrew and I can’t understand anything.
We have seen people of this forum saying that thanks to bitcoin, banks won’t be needed any more, but I don’t remember an important politician making statements like that.
What do you think about?
https://cointelegraph.com/news/israeli-pm-bitcoin-could-replace-banks
In a video published on Tuesday, Israeli Prime Minister (PM) Benjamin Netanyahu claimed that the operation of traditional banks will eventually become obsolete and could be replaced by Bitcoin. He based his claim on the trustless nature of Blockchain technology and on Bitcoin’s continuous, notable growth this year.
In the video, Netanyahu stated confidently that banks will eventually become outmoded and be replaced, though when and by what exactly remains to be seen:
“Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
...
“The truth behind what I just said is what’s propelling Bitcoin upwards.”
However, the prime minister also expressed doubt in the ability of Bitcoin to continue growing at such an astonishing rate, stating:
“There’s nothing like this, that will continue rising at this rate, it can’t happen.”
I’ve tried to watch the video to see if the article is interpreting well Netanyahu’s statements, but it seems it is in Hebrew and I can’t understand anything.
We have seen people of this forum saying that thanks to bitcoin, banks won’t be needed any more, but I don’t remember an important politician making statements like that.
What do you think about?
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