Bitcoin Forum

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford

This is a great video on the fractional reserve banking system of the world. This video explains why we're all here, and why we're all on the leading edge of the future of money.

https://www.youtube.com/watch?v=mQUhJTxK5mA

very weird that they allow that to be in the trending section. ::)

Whether we like it or not banking system will survive. We all know that banks have caused so many world economic crisys, corruption and troubles but they survive every time and this world still depends on them. This will not be changed for a while now. Bitcoin has started the revolution in that direction but this is still not enough.

This, people, are going to have to understand and accept that the banks are never going just to vanish -- Bitcoin isn't going to tear these people apart and all, they're going to survive through whatever we throw at them. Cause at the end of the day, these are the people that have the money and have an INSANE amount of influence over the rules and laws that are made in this country.


Plus, if the banks did have a problem they're way too big to fail, and the government would YET AGAIN pay for an injection into the banks, this would stop the mass unemployment and economic shock that would be caused if the banks failed.

Excellent video though, liked it a lot, and I do hope everyone was visiting watches it as well!

Whether consider banking system to be angel or devil, truth is that country's economy depends highly on it. We compare it with bitcoin and claim that bitcoin is superior to it. But in reality bitcoin is no way substitute to banks.
The loan or credit creation system by banks has given an ultimate new definition to money. Money value isn't confined now, hypothetically its unlimited now.

Banks are really very necessary for the country's economy. They just can't be eliminated from our system. We view bank at personal levels and fail to see how they drive the economy of the whole country and how much important they are. By attracting savings and granting credit, banks are the oil for the wheels that keep the economy turning. They provide loan facilities and directly invest in industrial sector. They provide industrial, agricultural and commercial consultancy and hence facilitating the process of economic development. They aren't going anywhere as for now.

It all depends on for how long the inevitable collapse can be delayed. One would need to be under heavy delusion pills to not see how the current levels of debt aren't sustainable. Governments all around the world flaunt about their unemployment numbers getting better, meanwhile they never address the fact that the debt never stops growing, and that these unemployment numbers are tricked: they just divide an existing job in 2, and make 2 low quality, low paying temporary jobs and call it 2 less unemployed people.

I don't know if BTC can replace the banking system, but I know it will be insanely valuable in the future because all fiat currencies are going to be under major turbulence.

Not for nothing OP, but you can buy YouTube views pretty easily,  and viral videos aren't what they used to be.

In addition,  any conspiracy/end of the world videos tend to grab views by the 1000s fairly quickly,  so I'm not putting any weight on those views.  The banking system survived 2008, and banks these days are in pretty good shape.  Had you bought bank stocks in 2009, you would have done pretty well for yourself.   I'm not crazy about the whole system,  but we're not approaching Armageddon anytime soon.

That's what we call TPS or Transaction per second. The banking right now has alot of glitches they should understand the blockchain system. bitcoin is way more faster than any banking industry. hope all Central banks will merge in blockchain.