polynesia (OP)
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August 23, 2015, 01:17:53 AM |
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RBI has already given the go-ahead for 11 payment banks. More might come in the future.
If customers and merchants start using Bitcoin, it will be these payment banks which will be at risk. Wholesale banks offer loans and this cannot be replaced by Bitcoin. Your views?
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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dashingriddler
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August 23, 2015, 06:57:29 AM |
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RBI has already given the go-ahead for 11 payment banks. More might come in the future.
If customers and merchants start using Bitcoin, it will be these payment banks which will be at risk. Wholesale banks offer loans and this cannot be replaced by Bitcoin. Your views?
I agree with your view. But this also cannot be a reason for RBI to sit tight lipped about bitcoin for ever. So I would say I am less bothered. |
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RocketSingh
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August 24, 2015, 09:07:25 AM |
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RBI has already given the go-ahead for 11 payment banks. More might come in the future.
If customers and merchants start using Bitcoin, it will be these payment banks which will be at risk. Wholesale banks offer loans and this cannot be replaced by Bitcoin. Your views?
Bitcoin or Bitcoin based businesses have way to go to give competition to payment banks. At this moment, bitcoin's credibility is under question as two group of people are exercising power show at the heart of bitcoin, which is very bad for a decentralized economy. Media is enjoying the war and discrediting it more. So, for an average Joe, payment banks are still far better alternative than bitcoin. |
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Wapinter
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September 18, 2015, 11:02:57 PM |
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RBI has already given the go-ahead for 11 payment banks. More might come in the future.
If customers and merchants start using Bitcoin, it will be these payment banks which will be at risk. Wholesale banks offer loans and this cannot be replaced by Bitcoin. Your views?
In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks |
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polynesia (OP)
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September 19, 2015, 04:05:06 AM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never.  Right now, bitcoin adoption is low in India. This can change. |
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Wapinter
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September 19, 2015, 09:10:13 AM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. But bitcoin is a global currency with limited supply.A large adoption is possible only with large supply |
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newIndia
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September 19, 2015, 01:09:30 PM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. But bitcoin is a global currency with limited supply.A large adoption is possible only with large supply That is not how bitcoin works. Bitcoin is infinitesimally divisible. Say, there are 21 bitcoins that would be mined and currently 21 people want it. If the demand goes to 42 people, then each will get lower amount and thereby increasing the price of bitcoin due to increased demand. That is why bitcoin is called deflationary currency as against our normal inflationary currency. |
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aakashsangwan
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September 19, 2015, 03:53:33 PM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. I also believe that you cannot underestimate India, It wll take time but once the adoption of bitcoins is started in India, I believe that India will be in leading position for bitcoins. Like when Online business started all told it wont run but see today most of the business are going live in online only. Same thing when this online businesss starts to accept payment as bitcoins then you can see the improvement in bitcoin |
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polynesia (OP)
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Activity: 1358
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September 20, 2015, 02:15:16 AM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. But bitcoin is a global currency with limited supply.A large adoption is possible only with large supply If that was truly the case, Bitcoin would have died a quick death. Thankfully, that is not the case. Think of how many satoshis are there. There are more than enough. |
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tech_solutions
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September 20, 2015, 09:07:18 PM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. But bitcoin is a global currency with limited supply.A large adoption is possible only with large supply If that was truly the case, Bitcoin would have died a quick death. Thankfully, that is not the case. Think of how many satoshis are there. There are more than enough. You are correct at the current situation Bitcoin cannot die until some unfortunate incident happen. for one Bitcoin you need 10 Million Satoshis but for Currency you need less. It will take time but once the pickup starts then you can see that how soon Bitcoin is growing fast. |
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dashingriddler
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September 21, 2015, 03:49:17 AM |
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In my opinion bitcoin can never give payment bank run for their money.Even if customers and merchants start using bitcoin there number would be so little to make any impact on these banks
Never say never. Right now, bitcoin adoption is low in India. This can change. But bitcoin is a global currency with limited supply.A large adoption is possible only with large supply If that was truly the case, Bitcoin would have died a quick death. Thankfully, that is not the case. Think of how many satoshis are there. There are more than enough. You are correct at the current situation Bitcoin cannot die until some unfortunate incident happen. for one Bitcoin you need 10 Million Satoshis but for Currency you need less. It will take time but once the pickup starts then you can see that how soon Bitcoin is growing fast. A correction for ya: 1 bitcoin is 100 million satoshis |
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