[2017-01-24]In the Battle Between Google, Facebook, and Amazon Against Banks: Bi

[Gembul]

News Bitcoin - In the Battle Between Google, Facebook, and Amazon Against Banks: Bitcoin Will Be the Winner

The flow of recent news shows that the banking industry is under stress. Big banks are cutting jobs. According to Reuters, “HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.”

In parallel, HSBC and other banks are nervously developing strategies to survive Brexit’s impact.

Taxpayers continue to bailout traditional banks. According to Bloomberg, “Italy’s banks are struggling under the weight of a 360 billion-euro mountain of bad loans, a plight that has eroded profitability and undermined investor confidence. The nationalization of Monte Paschi could be followed by rescues for lenders including Veneto Banca SpA and Banca Popolare di Vicenza as part of the government package.”

READ MORE >>> https://news.bitcoin.com/in-the-battle-between-google-facebook-and-amazon-against-banks-bitcoin-will-be-the-winner/

[aso118]

The banks definitely are on the losing side. The banks of today are complacent creatures, protected by regulation. Even if social media giants like Facebook and Google turn out to be winners, I doubt if Bitcoin would benefit. These companies would just use their own currency like facebook credit.

[maku]

“Italy’s banks are struggling under the weight of a 360 billion-euro mountain of bad loans, a plight that has eroded profitability and undermined investor confidence. The nationalization of Monte Paschi could be followed by rescues for lenders including Veneto Banca SpA and Banca Popolare di Vicenza as part of the government package.”

This is what you get for toying with fictional money and lending it to people. Creation of money from thin air & economy based on debt is not sustainable in the long run.
I am waiting for the day when general masses will realize that and withdraw all money from banks. It will be the day Bitcoin will reach 6 digits.

[Immakillya]

The best example of this is the People's Bank of China(PBOC). They were desperate to stop bitcoin from taking over their place. They are trying to regulate bitcoin which cause panic to people. They spreading FUDs from people. Bitcoin is a real threat to banks. But i dont think bitcoin can replace banks.

[aso118]

“Italy’s banks are struggling under the weight of a 360 billion-euro mountain of bad loans, a plight that has eroded profitability and undermined investor confidence. The nationalization of Monte Paschi could be followed by rescues for lenders including Veneto Banca SpA and Banca Popolare di Vicenza as part of the government package.”

This is what you get for toying with fictional money and lending it to people. Creation of money from thin air & economy based on debt is not sustainable in the long run.
I am waiting for the day when general masses will realize that and withdraw all money from banks. It will be the day Bitcoin will reach 6 digits.

This is what every country in the world does. Countries abandoned the gold standard a long time ago.
This system has lasted for hundreds of years and most people believe it will last a lot more.

[maku]

The best example of this is the People's Bank of China(PBOC). They were desperate to stop bitcoin from taking over their place. They are trying to regulate bitcoin which cause panic to people. They spreading FUDs from people. Bitcoin is a real threat to banks. But i dont think bitcoin can replace banks.

It is not exactly the whole truth about PBOC intervention. Sure they are seeing Bitcoin as their competitor, but so far they didn't  try to ban it openly.
I am not sure you know how "liberal" were Chinese bitcoin exchanges so far, their main source of income was high limit margin trading - and PBOC halted this behaviour.
So in theory new reduced margin trading should lead to lower price volatility.

[Goms]

If you ask me, I would say the battle had long been planned ago by the elites who have decided to plunge the world into economic collapse so we can all have a one-world currency which could be btc or its equivalent.