Topic: Say Goodbye to Banking as We Know It - page 5. (Read 1882 times)

The banks are already moving and creating their action to the demand for cryptocurrencies or digital currencies. We can see from the news that they are creating their own cryptocurrency and implementing the blockchain technology. They don't want to get left behind and lose the game in the financial industry and in the next 5-10 years, all of the sectors in financial industry will be blockchain powered.

But this is really unlikely. This is all a proposal and is still in development. I find the future of this innovation very difficult as fiat money can now be exchanged for digital currency on your credit card and pay it very quickly. People are already familiar with this payment method and certainly don't need the cumbersome payment for new crypto. Besides, many people do not like holding coins because it is too unstable, so this plan I do not overestimate.

For sure Banks will adapt the changes and will add crypto in their option, I don't think that banks will just disappear as we all know how they play in our economy, they are controlling our financial system and once they found out how many people and how much money in the crypto market for sure they will do something for it.

The banking system has long emerged. In fact, Zigurats can be an example in historical ages. I don't think they're gonna disappear now. They will probably undergo a technological shift. I think classical banking will undergo change.

Classic banking isn't going too well. Bitcoin and its derivatives push the limits of banking. Because not everyone has a bank account. Smart phones have entered our lives. Each phone can now be considered a bank. Banks will continue in smaller units. Banking is obliged to change.

China is a big pile of a closed community. It is fascinating how well they manage to close the gates of the internet when it comes to their borders. I'm going next month to travel and am already very curious how my regular western apps will function there.

They might start with their own "fiat" digital currency with some form of blockchain. But I almost don't believe it will be decentralized. No sane central bank would give away the power of control and money creation.

China has always been a country with their own commodities. I would rather say China is the most developed country which tries to replicate any other commodity which the world announces. They have their own youtube, google, etc so why can't we expect them having their own bitcoin(bitcoin in-the-sense their own coin).

China has the most largest population in the world and any service or commodity they launches has their own users from their country. China is actually not in need of any other users from other respective nations and hence they keep on building their own products and use that individually. China might also improve their banking skills by launching cryptocurrencies in their banking systems. This might bring an revolution in the banking sector.

Digitalization of online transaction is one way of avoiding fiat encashment, in which diverting your physical payment towards the digital form of transactions can be done in virtual form. Banks since the traditional times, only capable of managing our assets in physical form. That's why they're only focused on fiat cash processing, and unlike with blockchain technology on bitcoin; those process will be eliminated once digital currency will be fully implemented on different parts of the world.

Decentralized does not mean anonymity, if you are connecting to a peer you are going to give out your IP details and the advantage of adding blockchain is that it cannot be rewritten or altered and the record will be there forever and if you are living in a country like China or any third world country then you need to worry if they are planning to implement blockchain technology as the government will have complete control over your finance.

Stable coin are likely to always thrive and it is not expected to be a difficult coin to get to market, we rarely see ICO or IEO for stable coin which indicate it always have financial backing. Most times the financial backing is lower than the publicized figure but have found them being tolerable if the amount is still close. Most Government going there this time may have no physical fund to back it or it may not be traced, will SEC verify china financial backing if they are not looking for trouble.

They only improve the system but decentralized is more accurate and trustworthy IMO, but we can't change that government always means centralized.
Well, good for China, hopefully they'll be able to launch that successfully and soon I am hoping they will also be positive in crypto regulation.

China has been always known as an economy-centric country, and with such technology, they had seen its advantages, though they made it centralized to combat decentralized anonymity that might be used in illegal activites. It's just like a digital version of their fiat, only using a specialized blockchain of their own, which as far as I know, is called Xuperchain, announced already by Baidu, they're own version of Google.

Here's the thing, if China will probably have their own cryptocurrency and strictly for their people only and people around the world isn't buying it, the effect will just remain to their vicinity, leaving the outside countries unaffected to the progress and development of their financial economy. But, if this cryptocurrency will be open for the world and the worldwide market, then people around the world including us will benefit and might consider it better than bitcoin and that's how huge Chinese population could impact the market.

There is 100% possibility that china might launch their own cryptocurrency in order to support their in-boundary transactions. Also once china does so, they would gain maximum attention from the entire globe and it would actually make a immense price growth in their specific coin. Their coin might even posses the ability to overtake bitcoins in few coming years because of their over-populated nation.

If china itself trades with their coin actively, they would have the highest trading volume. China might itself create a high demand for their coin which would affect in the huge price growth with the limited supply. It might also boost other cryptocurrencies like bitcoins but we can't really know what china might think. Perhaps china might try to ruin each other cryptocurency just to make their currency the most powerful one?

They are never going to allow it and I am not sure that most people will want it either since it is obvious humans have an instinct to want some sort of centralization, however I really expect that during the next years and decades bitcoin becomes accepted in the same way that PayPal is accepted all over the Internet, if that were to happen it will be a huge step forward for bitcoin and for us, because if you wanted to avoid using fiat at all you could do so if you wanted.

Banking won't go away from usage, people getting used to the technology and the same has driven mass of people towards cryptocurrencies. This has made the banking industry to give importance to the technology dependent development. As a part more banks are into transition, but the same isn't gonna end the usage of banks by common people.

Already trade war is going on between china and usa and it already affect many companies globally. Block chain now need of every country to make proper progress in the stable economy of the country.
If china get success to launch official coin it will bring boom in crypto world,We all know the population of china dominant globally and the users f it coin will be in large number.May be it affect the BTC but till BTC users will be double and the halving also completed.

This is i say days are coming and the traditional banking system must think for next step to survive in the market otherwise  will payoff more than they think.

It might be good for some but it doesn't change the fact that it's immoral. One group usurping themself a total power over another people, justifying it with allegorical scripture and it's elaboration that is Babylonian Talmud, compiled about 600 years after Christ. Supremacy based on religion is nothing different from same, based on pseudo-science that is eugenics or neo-Darwinism, superiority. Usurpation of power can not be justified logically nor on moral basis, that's why this idea will fall miserably, dragging along another millions of innocents. Supporting such macabre set of racist and discriminatory ideals, makes you an accomplice to possible genocide, that talmud is clearly preaching.

I don't own and I'm not planing to own any bank account, any card and any official zio-bank app.
I don't care about modern, unlimited and highly controlled fiats schemes, cashless society nonsense and those so called improvements, that only serve as a another tool of global enslavement and control.     
   
If you have found something that could point out on how and where, I'm contradicting my self, please quote it and prove my inconsistency. Note, only a rock doesn't change it's views. FYI Jones is an Israeli shill... possibly so are you.
Ad-hominem attack only proved how little to add to this discussion you have, and how weak your arguments are.

 

Zionism is good

You are very funny. I have been looking for some of your old posts and you contradict yourself several times. Don't you have a debit card? Why using it so. If the banks want to remove our anonymity they could do it without using CDB, they started already and without it, ah the debate for the cashless society you know?

People like you always complain about saying the banks cost us too much, take to much time, etc, but when they're working on something to improve, people aren't happy. Like right now since we have instant SEPA, they already started to complain lol. I would suggest you read some posts from Hal Finney, explaining why Bitcoin can't become the currency for the masses and why banks need to adopt a digital currency model...

I believe you watched too much propaganda and Alex Jones video on youtube. I see you have no idea what is Zionism, perhaps you just heard about the yellow book. I won't go down to your level but with people like you I'm glad government sponsor abortion program

Nah, banking is not going to end, I know that for sure. Every countries are not going to be using the same cryptocurrency, it is all going to be different. China is already creating their own cryptocurrency and we all know that it’s going to be a centralized cryptocurrency and banks will be among the top organizations that will control it.

If other countries start creating their own cryptocurrency it’s going to be the same thing, so I don’t see banks taking their hands of from our finance, they will always be in control. But there will still be decentralized digital currencies/assets like Bitcoin.