Bitcoin Forum

banks and crypto has a very urgent function for economic stability. but, I see today many banks are interested in saving their assets on the crypto world.

call it south Korea, it was reported that the local bank's virtual account balance reached $ 1.79 billion, but this year their assets are low, I think the market in 2017 makes people speculate.

on the other side, the Korean government makes preventive and educative measures by limiting the age of investors, the purpose is to make the crypto market easy to control and transparent.

so, the value of bank assets in the crypto world is still low.

It is a good omen that banks in South Korea are responding to cryptocurrency. That they even have  account in billions of crypto. Very soon others countries in that region will take leaf from South  Korea to embrace blockchain and bitcoin.                                                         

1.79 billion USD is a ridiculously small amount.We can`t make conclusions that banks want to invest in crypto based on that amount.Banks don`t have any "urgent function" for the economic stability.The bankers only want us to believe that banks have such function.

The bank's asset value in cryptocurrency is very low for now and the price is very expensive at the time of purchase so as to make the asset value down when the cryptocurrency price falls.

investment in banks is said to be the safest form of investment instruments. But instead, the yields that may be given from a lower investment or arguably the lowest of all forms of investment both stocks and bonds.

I think that crypto rules the world today, it is the best if to talk about btc, i like investing in it due to pros it has, the bank will soon invest in crypto as well as large companies and other businessmen when they see its advantages

I think the crypto growth there is very good, because I see from one side that South Korean people's demand for blockchain based games is very high, and also the demand of every store to use the blockchain system is very high.

from my simple explanation, I think it all will affect the value of South Korean bank assets to be better than the previous year. what do you think about this?

It's hard to make a generalization when only one data can be extracted. Also, the general notion of banks against bitcoin is to despise it and, as much as possible--specially if there aren't any clear incentive for them--stay away from any kind of transactions involving the cryptocurrency. There had been many instances wherein the central banks of different countries released a memo/circular describing bitcoin as a vehicle for fraud and money laundering without stressing any light on its positive implications when a person use it. It's good that this particular SoKor bank accepts and deals with bitcoin but again, we're still far from a society wherein the banks and the government are comfortable in having bitcoin co-exist side-by-side with their national currency.

I think bankers will do everything they can do stop bitcoin.  Centralized banks create money out of debt, thats how most of our current money supply is created.  With cryptocurrency you can't just magically create more money by handing out IOUs.

South Korea is playing a great for developing the crypto currency market. The people are having huge demand of it. Moreover, it's good to see that gradually banks are also involving in crypto currency. I see crypto currency is having a great future further.

I believe that FUD also exists in the bankers. So they are relying on the crypto industry or trying to be engaged in the market without saying anyone. But this is true that the day is not so far when the bank employee will announce their entrance in the crypto market .

Flowing of banking money into crypto world is a good news for the crypto market. Especially in a time like now when the market is looking for fresh investment. 1.79 billion usd is a huge amount but please mention the benchmarking year as well.

South Korean government recently decided to classify crypto exchanges as Banking institutions so that they can be regulated according to the current legislative framework. So only South Korean banks may show interest in investing more into crypto market. BANKs in the rest of the world are still turning blind eye from crypto market.

Also the falling price of bitcoin has made a lot of conservative investor selling off their assets. Adoption and fresh funds can help recover this situation.

many people all over the world will like it because that partnership is good clash so if they accept each other there will be more investors to come here in crypto

I know that we all trust on bank culture and we feel that bank is a safe place for investing but bitcoin rate is higher than banks , and this growth will keep increasing as the market will progress hopefully oneday banks are going to invest in bitcoin so I will say before investment think which one is better for you.

Banks are acceptable by all country and also government but crypto is not acceptable by all the countries. That’s why peoples are invest their money on the bank and get small amount of interest on the other hand if people are invest on crypto market they will get more profit.

If this is real happening in South Korea that's a pretty good news we've got there but to other countries that has governing banks in their economics, up to date this is impossible. Banks are the most concerned industry that are against to cryptocurrencies, they all know that this is going to pull their business down since the popular of it is increasing. But one day, time will come that all of these banks are happily accepting bitcoin and toher crypto's as well and that's the day that money in the bank will start moving in the cryptoverse.

People are still afraid to put their hard earned money in cryptocoins because they have seen it dumping from $20k to $6k within 6 months which is not good for faint hearted people. 

Many prefer to keep their assets in banks because they can see their representative at their street and they can be sure their assets value will not decrease because they don't know what depreciation is about.  ;D

The banks and bitcoin has a competition. I think all of the banks are against in bitcoin because the investor are always in bitcoin invest, it make affect their profit or their earnings if that scenario are always happening. Also there are a big investors that in bitcoin invest so it may affect the demand of banks.

Its good to see bank interested in crypto world and I hear some of the bank start to saving on crypto, but not too many banks are doing this, maybe they still hesitate and need further observation to see how the crypto helping them, it will be a long way before bank fully trusted crypto, but I still appreciate the banking system to try crypto, this is a good sign, its better to have low volume then they don't want to saving at all

I think because banks see the excellent potential of the world of crypto and although the price or assets they have according to it will not be a big problem if they are patient to hold and wait for the price to rise.

That is great,  it is nice to see this kind of thread knowingbthat crypto is truly becomes popular even the government are doing its role in crypto currency.

It’s a great news from South Korea based on this we can see the have been invested huge amount of money which is really good and they will be more profitable after few days later also its smart objective by them I think because in bank their interest ratio is less than crypto profit.

Banks have seen opportunities in the world of crypto, of course they are not wasting the Opportunity. By investing into the world of crypto they will profit a lot and quickly compared to investments in other fields. I think the bank is right in making the decision, it's just that they are less fortunate, because speculated.

This is indeed a good news for the people. Given that the banks has the capability of a huge investment, it will definitely be a good thing for the crypto currency market. As a result, this will help the market to recover from the dip, at the same time, the market will be engaged in an constant operation.

Banks are really waste put your money there you want to make the money means please go crypto currency which top in the market now. You will be get the profit with in some months once the coin value grow bigger in the market.

I see the banks are like shit. I do not have any huge fund on banks. To say exact comparison I have more money on crypto wallet than bank account.

Yeah bright. The value of the bank's asset for crypto world is low, maybe because the price is low in the crypto market. But, I think in the future, the situation has to be changed.

The crypto currency and the banks are interrelated to each other very strongly. Now a days many banks are being interested for saving crypto for economic stability.

Someone saying that banks are afraid in crypto because in the first place banks didn't understand the really meaning of crypto but at the end we know that step by step that banks embracing and accepting in their business the cryptpcurrency because in my country some of banks are accepting crypto and know how it importance to adapt also the new technology like the cryptocurrency.

The central bank uses interest rates for the funds it provides as a jack to ensure price stability. The imposition of crypto currency threatens this model because banks are no longer required to broker funds and no central bank guarantees price stability. so it's as good as investment place in bitcoin ..

Both of them have their own advantage as investment purpose.
If we talk about bank , it means something legal but if we talk about cryptocurrency, not all country agree to categorize it as legal currency.
So overall it's depend on how many demand especially on cryptocurrency

Yes I also believe that the value of banks asset is much lower than the value of crypto world. Bank employes are saving their asset in crypto market but this is not flashing much.

Yep, you're right. We thought things were gonna be the same forever and that something of this sort (what has happened to the market currently) could not happen. Well, maybe we're in for something bigger than before, but anyway we've been thought a lesson as well.

I think crypto investment is the best compare to bank investments because in crypto investments all the your fund are been managed and control my you compare to bank account where by our investments is centralization and controlled by the management, this really makes it difficult when you want to get your fund back because it involves third party in crypto there is no third party.

In every thing in life to become successful, you most take a step with a high risk, many people go to bank for a long period of time as fixed deposit account, which give a return with a little interest, hence we are now Era of technology where Crypto play a fantastic goal, with a the same account, which gives a great return.

Just don't forget that people don't used to manage their money (in the western part of the world) and it's totally acceptable for them to trust a third party to manage their finances. For those who has no banks yet in their country, cryto will not be such a huge change, but for the EU and USA, there should be something, that make people accept this change. To change people especially in connection with money, it's not an easy job, so crytpos need to offer such advantages to let people accept this change easily.

That's an interesting post. I've recently heard that  South Korea has recognised cryptocurrency as regulated banks. It is good to see the countries gradually opening up to cryptocurrency.

This is just an excuse from all that exists about Cryptocurrency and definitely going forward will be better.

Just imagine we can compare with GOLD who has been in the mine for decades but its value will soon be in salit by Cryptocurrency who was born from 2009.
We will not know what it looks like but South Korea is an example of a good country.

    South Korea are very open in adopting the development of cryptocurrency. They are advance thinking about crypto world and on how crypto help their economic growth that's why even banks are trying to engage in crypto. Well that's great and hope that one day banks will have a correlation with crypto currency not only in one country but all over the world.

South Korea is very adaptable with the advancement of technology including the matter of cryptocurrency. And i think this is just one of their effort to use the advantages of crypto. We can not deny that right now, its true the value of bank assets in the crypto world is still low. But, as a person who believe in crypto technology, im sure in the next 5 years at least, there will be more bank assets in the crypto world.

Its really good to know that banks are now getting to know the potentials of crypto that they've decided to venture into it. Though bank investment is the safest but you can compare the profit in bank investment to crypto investment.

Well, it is true that banks are curious about the crypto industry and not everyone from the banking sector believes that crypto is going to kill banking. However, everyone agrees that change is about to arrive and banks must transform their services and optimise it in order to survive in this transformation process. Probably that's the reason why some banks have already started their blockchain R&D departments and testing this technology.

Banks have two types of investments that is depositing and investing,so both have different risk level.All the people think that depositing their money into the bank account is safe but it actually the most useless depositing because the long time investment as fiat money will kill its value because of inflation and also many governments have such policy that they an take the users's balance if they made serious loss in their stocks so know your bank's policy before saying that is safest.When comparing with that the crypto investment is much profitable with the considerable amount of risk level.

Well bank and cryptocurrency both function to stabilize economy in a country. banks see the crypto world as a great avenue for earning money too. Although cryptocurrency investment comes with risks than bank investment, I will choose cryptocurrency investment over bank investment.