What Can $50 Million From Banks Add To The Crypto Industry? - page 2.

hulla

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Quote from: niisarearning on May 21, 2019, 03:09:34 AM

Quote from: MOProgress on May 18, 2019, 05:17:03 PM

Quote from: bttmember on May 18, 2019, 05:10:09 PM

This news sounds a bit fake as if it is true then i do not think banks are serious yet about it because if one bank was going to invest 50 million it could have been serious development but 143 banks investing 50 million is not enough or not an amount that can add or put signigicant positive effect on the overall crypto market.

I think the news did not say 143 banks. What I saw is "Banks Set To Invest $50 Million In Digital Cash Settlement Project". And details were given on the news.

Yes even i dint find much news in this . Digital Cash settlement not only means its crypto currency even digital wallet like bank wallet other payment wallet also comes under digital cash .

That mean you dont really read the whole article posted by the OP and the provider links either because it well stated that the banks in subject will create a digital coin which will use the blockchain but will be back by national currency and this mean they are planning to create a centralized coin which value depend on fiat.

niisarearning

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Quote from: MOProgress on May 18, 2019, 05:17:03 PM

Quote from: bttmember on May 18, 2019, 05:10:09 PM

This news sounds a bit fake as if it is true then i do not think banks are serious yet about it because if one bank was going to invest 50 million it could have been serious development but 143 banks investing 50 million is not enough or not an amount that can add or put signigicant positive effect on the overall crypto market.

I think the news did not say 143 banks. What I saw is "Banks Set To Invest $50 Million In Digital Cash Settlement Project". And details were given on the news.

Yes even i dint find much news in this . Digital Cash settlement not only means its crypto currency even digital wallet like bank wallet other payment wallet also comes under digital cash .

knuckey

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Quote from: MOProgress on May 18, 2019, 05:03:30 PM

~Snip~

What do you think $50 million will add to this multi-billion industry?

Maybe the bank will start and try to dominate the market, I think exchange is their main goal, whether it's through partnership and also building its own exchange.

iconoclast

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Quote from: MOProgress on May 18, 2019, 05:03:30 PM

Time to time, we big financial players diving into the cryptocurrency industry, now big banks around the world want to invest $50 Million into cryptocurrency. According to this news... https://www.cryptoinformers.info/news/143-banks-set-to-invest-50-million-in-digital-cash-settlement-project

What do you think $50 million will add to this multi-billion industry?

$50 Million is not a great deal of money. I have seen many ICO's that have raised much more than that. What is however significant is that the banks are creating their own blockchain to handle settlement rather than using an existing block chain like XRP that we have been told for a long time is the coin that all the banks will be adopting. It would seem that rather than pay for someone else's overpriced coins the banks would rather mint their own.

bangjoe

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it is proof that crypto is always growing and increasingly in demand and of course this is a good thing because it is not impossible that crypto in the near future will actually be used as a means to transact, not only transactions to buy other coins but also transactions to buy anything and it can be a trigger to make crypto prices more expensive

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Quote from: posi on May 20, 2019, 04:35:23 PM

Quote from: MOProgress on May 19, 2019, 06:15:26 PM

Quote from: posi on May 19, 2019, 05:13:58 PM

Quote from: Google+ on May 19, 2019, 01:40:37 PM

Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

The news is definitely a fake news to cause some commotion in the market because the link to Reuters which was mentioned in the article is not working, the statement made by the banks in subject (UBS) last month shows they didn't by any way supported crypto currencies and it was there former CEO that seems to like crypto but he also want to create a regulated body.

Maybe you check from your end, every link related to that article I have checked are working perfectly.

You're right the Reuters link in the article work when I use another browser but I still believe the idea of Guido Bühler creating his own crypto project was among the reason why the current UBS Chairman woo the banks listed to create a Fiat back coin. Although, the idea of Guido Bühler and UBS creating crypto coin which will make crypto and fiat transaction seamlessly is good but the UBS idea seems to be some kind of imitating JPMorgan coin.

Let's just wait till both project are launch.

Yes, I think the same way, UBS will definitely imitate the idea of JPMorgan and it will not make much impact. I will only stay positive until the whole box is unveil.

suzanne5223

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Quote from: MOProgress on May 18, 2019, 05:17:03 PM

Quote from: bttmember on May 18, 2019, 05:10:09 PM

This news sounds a bit fake as if it is true then i do not think banks are serious yet about it because if one bank was going to invest 50 million it could have been serious development but 143 banks investing 50 million is not enough or not an amount that can add or put signigicant positive effect on the overall crypto market.

I think the news did not say 143 banks. What I saw is "Banks Set To Invest $50 Million In Digital Cash Settlement Project". And details were given on the news.

I think he didn't read the article inside out because the banks involved in raising the $50 Million were mention and they are actually 8 Banks mostly from the EU while few from US.

Quote from: Google+ on May 19, 2019, 01:40:37 PM

Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

I check through the link thoroughly, did a little research and I believe the news is not fake and it will affect the crypto market positively cause the institutions are coming together to try out crypto market by creating a coin which will serve as international payment etc. Mind you, UBS have once make negative statement about crypto currency in the past and now decide to try out crypto.

posi

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Quote from: MOProgress on May 19, 2019, 06:15:26 PM

Quote from: posi on May 19, 2019, 05:13:58 PM

Quote from: Google+ on May 19, 2019, 01:40:37 PM

Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

The news is definitely a fake news to cause some commotion in the market because the link to Reuters which was mentioned in the article is not working, the statement made by the banks in subject (UBS) last month shows they didn't by any way supported crypto currencies and it was there former CEO that seems to like crypto but he also want to create a regulated body.

Maybe you check from your end, every link related to that article I have checked are working perfectly.

You're right the Reuters link in the article work when I use another browser but I still believe the idea of Guido Bühler creating his own crypto project was among the reason why the current UBS Chairman woo the banks listed to create a Fiat back coin. Although, the idea of Guido Bühler and UBS creating crypto coin which will make crypto and fiat transaction seamlessly is good but the UBS idea seems to be some kind of imitating JPMorgan coin.

Let's just wait till both project are launch.

dimonarka

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To be honest, nothing new is added. I suppose that these funds are introduced into the market in order to buy cryptocurrencies for further market manipulation or simply investments on a long-term basis, but we don’t know, we’ll watch the market and most likely we will all know soon.

SlimShadyMmp

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Even if it sounds true then basically it means 50M added to maybe say Bitcoin and who know that might increase price a bit depending on their buying strategies but at the end of the road then will auto-correct and that is if they dont lose some assets in their money Anywhere if they are building their assets then good another platform will be re-introduce

MOProgress

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Quote from: posi on May 19, 2019, 05:13:58 PM

Quote from: Google+ on May 19, 2019, 01:40:37 PM

Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

The news is definitely a fake news to cause some commotion in the market because the link to Reuters which was mentioned in the article is not working, the statement made by the banks in subject (UBS) last month shows they didn't by any way supported crypto currencies and it was there former CEO that seems to like crypto but he also want to create a regulated body.

Maybe you check from your end, every link related to that article I have checked are working perfectly.

posi

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Quote from: Google+ on May 19, 2019, 01:40:37 PM

Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

The news is definitely a fake news to cause some commotion in the market because the link to Reuters which was mentioned in the article is not working, the statement made by the banks in subject (UBS) last month shows they didn't by any way supported crypto currencies and it was there former CEO that seems to like crypto but he also want to create a regulated body.

salty

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Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

The market will do its job.Combining banks to create product will be more effective than bringing together a bunch of fans of decentralization.For 50 million, the Bank will be able to create its own cryptocurrency and even run an exchange with its own staff and office.(I analyze on my own country).

sabine80

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for a single person, $50 million is certainly a lot of money, but very little for the crypto market. it probably will not even notice, if you buy bitcoins for the sum.

Ucy

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I doubt if this would add much difference to cryptocurrency.

They are probably investing in blockchain/cryptocurrency infrastructures for their own projects/coins, for Bitcoin or for few other established cryptocurrencies

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Quote from: Eadefemi on May 19, 2019, 11:10:53 AM

The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

I think this is like a fake news that tries to influence the cryptocurrency price movements because we know that when this statement is circulating in some media it will make many traders become affected.

slaman29

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$50 million will add a drop to the ocean. Not saying it's nothing, heck even $5 million is something in any country, but just a few days ago a whale dumped Bitcoin. 5 times worth that bank amount actually (US 250 Millions) and within a few days, price has recovered and is back to almost 7900 right now. I guess this is just a clue of how much or how little the effect of 250 million is in Bitcoin market.

Eadefemi

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The banks should get in more. I don't believe this news though, but if it's true, then cryptocurrency is getting to where it's expected to be. Banks are enemies of crypto and I wonder why they should pump money into cryptocurrency. It's doesn't add up.

Ghost_1957

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I think if banks put money into this industry then prices will be manipulated by banks like whales

Adriano2010

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That amount can't make the price grow to much, because even if they invest on only one coin will need a lot of more money to make the price grow, to make the price grow will be need a lot of more money. And i also don't think a bank will invest on crypto.

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