Topic: The Relationship Between Cryptocurrency and Traditional Banking - page 5. (Read 732 times)

If you have gold, you can take it to bank for save keeping. Other small valuable assets can be taken to bank. Why is cryptocurrencies different to banks? They are assets too and banks should look for ways to make it a business and to use it for profit-making purposes. We should not be!comparing cryptocurrencies and banks because exchanges is what that should be compared with banks while cryptocurrencies should only be compared with fiat.

Well, I will honestly say that crypto currencies and traditional banking are destined for a happily ever after, this is because  I personally believe that crypto and banks can easily co-exist, I do not think that bitcoin or crypto currencies are standing in the way of the banks, no no, banks believing this is simply out of fear and jealousy.

It's like you opening a ceramics shop at one side of the road and serving customers who are interested in ceramics, and then, like 50 years later, some one else out of the blue comes around and opens another ceramics shop directly opposite yours, you will try to fight that person, because to you, he or she is a threat because he or she take customers from you.

But if you look at it properly, you did discover that he or she is only there to make ceramics even more accessible to people who need it, so, seeing that he has alot of new ceramics design that you don't have, and you don't even know where to get such designs, instead of fighting, it will be better to walk up to him and see how you both can collaborate and become partners in business - this is what I think banks need to do with cryptocurrency, they can partner with Bitcoin rather than fighting it.

Well, these individuals with this mindset are those that are threatened by control adopting Bitcoin rids them of. Imagine when you are in control of the finance of many and all of a sudden, there comes a different and better way by which these monies can be stored, I'm sure you'd oppose it. What's there to feel threatened about, if it's privacy you seek while doing transactions, Bitcoin is the best bet but the government don't want that cause you have brushed the power they have over you to the curb and this is why they spread do much FUD to chase people away.
 In life, there's always going to be choices and Satoshi by introducing Bitcoin presented an alternative way to store money but there's still going to be those who'd prefer the devil they know to the angel they don't.

More like frenemies? Some banks are checking out the cool stuff crypto offers, hoping to lower costs and speed things up. But the whole regulatory uncertainty and crypto's wild nature make some banks a bit wary. Whether they end up partners or keep it casual depends on how they handle the balancing act between old-school rules and the crypto wave. It's a bit like a modern financial system and we still have a lot to learn

When you talk about cryptocurrency, the first coin that comes in mind is Bitcoin. Without doubt bitcoin is the king of cryptocurrency and bitcoin was created by satoshi. In bitcoin whitepaper, Satoshi stated the reasons he created bitcoin and the problems that bitcoin will solve. He didn't in anyway mention that he was creating something that will displace the traditional fiat system, rather he created an alternative to the failing and highly centralized fiat system. It started like a joke but today bitcoin is a strong voice in the financial system.

But one thing is obtainable in every new technology and that is evolvement. Satoshi didn't anticipate the way Bitcoin went and when the government saw the potential of bitcoin, they rose against it on the reason of high energy consumption. The allegations could not hinder bitcoin but more and more industries were adopting bitcoin. When the government truly understood the power of decentralization and blockchain, they decided to join the bandwagon. Now different countries have their CBDCs and you cannot own a CBDC as a country and still fight against cryptocurrency. It will be a gross contradiction. So, the relationship we seek between cryptocurrency and the traditional banking system is co-existence and nothing more.

Cryptocurrencies are not threats to traditional banks. Many countries banned bitcoin and all other cryptocurrencies in the past but after some of them are knowing about what cryptocurrencies are, they unban them. Since today, all countries that accept cryptocurrencies and the ones that are very friendly with them have no problem, there banking sector has no problem. You can even see in those countries that some banks are allowed to hold coins and tokens for their customers. Banks can even embrace cryptocurrencies.

Hello everyone a very good day you all.


So, let’s talk about this interesting duo: cryptocurrency and traditional banking. Some say traditional banks are threatened by crypto’s rise, while others think they’re starting to see the potential and hopping on the bandwagon. Either way, it’s a fascinating dynamic to watch unfold. What do you think? Are they destined for a happily ever after or is this just a temporary fling?

Let me know your thoughts on this.