winterblues
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May 09, 2018, 06:57:31 PM |
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Not only can you invest in securities, mortgage markets, or consumer credit, just like the banks, but you can actually invest in small cap stocks, and lower grade bonds, that offer higher returns than banks can ever achieve, given their risk constraints.
Furthermore, none of those are really how banks make money. Banks make money on loaning credit (which will happen regardless of what form they loan money in) and stock spreads (which again, will happen no matter what currency stocks trade in).
I just don't want people to be disappointed when nothing really changes materially, regardless of widespread crypto adaptation. It doesn't actually address the main problem with consumer behavior (low market liquidity, and high propensity to consume debt).
While it definitely creates more transparency in the financial markets (which is a good thing) the main problems with banks are already transparent, and the only technology that can change that, is tech that can change human psychology.
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bitctrimor1
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“Blockchain Connection Framework”
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May 09, 2018, 07:00:16 PM |
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Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?
I think it doesn't because of the fact that banks are business entities, therefore, it is more common for them to actually adjust or make their system work for whatever is the reigning investment system at the moment, and at this time, it's cryptocurrency that is booming. Thus, it would be more expected to see them include cryptocurrency in their systems to also take advantage and profit from it. It's the smarter move, since you are a business focused in making money.
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bitbunnny
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WOLF.BET - Provably Fair Crypto Casino
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May 09, 2018, 07:01:52 PM |
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I beleive that banks feel certain fear from cryptocurrencies because they steal part of their business, customers and markets. But on the other hand I don't think that Bitcoin pose some real threat to existance of banks because they will survive. They will adapt and change their business, even accept blockchain technology but they will survive. But just because cryptocurrencies will force banks to change the way they are doing their business this is a very positive influence of Bitcoin and other cryptocurrencies.
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eashikde
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May 09, 2018, 07:02:07 PM |
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It represents a threat to the financial component of the state. It is illegal and uncontrolled, and it is bad and it is necessary to solve this with something. To the state and investors was good.
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arguelles84
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May 09, 2018, 07:03:42 PM |
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You can argue that the banks of many countries, including the most developed ones, do not cope with their tasks. And you will be right. Especially, the claims are relevant to the central banks of the Third World countries. In such cases, the use of blocking technology will make the most sense, as it can reduce the level of corruption.
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Cybil
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May 09, 2018, 07:15:41 PM |
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Bitcoin was born to meet the increasing demands of people through the payment of services in a convenient and fast way. Bitcoin is used aggressive in many areas of utility. In the future, bitcoins are more and more used and depending on the human use with bitcoin or the bank they choose.
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copoyes
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May 09, 2018, 07:35:39 PM |
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I do not think because when we want to exchange bitcoins into their respective country's currency and melt that surely through the bank so the bank does not lose because there is still a process of the bank and its customers
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washing.machine
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May 09, 2018, 07:57:08 PM |
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Bitcoin is not a threat to banks. On the contrary, Bitcoin will be a new opportunity for banking. Paul Vigna of the WallStreet Journal wrote the results of the research report in the Wall Street Journal ( http://blogs.wsj.com/moneybeat/2016/06/30/bitcoin-still-not-ready-for-prime-time-citi-says/) on June 30, 2016 yesterday. He writes it based on the results of a report written by Keith Horowitz, Adrien Porter, Frieda Liao, and also Michel Cronin. And they are from Citi Research's research team. In his research report, explained that Bitcoin is basically a proof-of-concept that has been quite successful from a digital currency.
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InterFinex_JB
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May 09, 2018, 08:04:23 PM |
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It does, absolutely! Imagine a world where digital money is being used in almost every consumer transaction there is, no banks, no paper bills, no governing body but with real transactions taking place... However a threat it maybe, I don't think crypto will absolutely eradicate and replace paper money because the government, from where it gets its power from (money), just simply won't allow that to happen.
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Robertqueen2
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May 09, 2018, 08:10:57 PM |
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Bitcoin doesn't threaten banks in the full meaning of the word; Bitcoin is going to transform the traditional concept of banking system to a more developed, reliable and authentic system which will revolutionize the notion of money. With the advent of the 'Blockchain Technology', Bitcoin has had the feature of 'decentralization' which opposes the systems of the current banks. That is why there are some fears of Bitcoin and its underlying technology.
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xbudahx
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May 09, 2018, 08:14:18 PM |
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First of all, there are questions of illegal operations, tax evasion, laundering of proceeds from crime. In fact, using a payment facility without necessarily identifying participants in transactions, it is easier to perform such operations. Also, criminals benefit from the impossibility of canceling committed transactions and blocking any transactions, even if we know that this purse belongs to the criminal.
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acord00
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May 09, 2018, 08:58:05 PM |
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I do not think the bitcoin function is to rival or replace fiat money, but bitcoin serves as a more innovative payment option. Bitcoin and fiat money are expected to complement each other in dealings.
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jump4ever
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May 09, 2018, 09:04:29 PM |
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of course it represents. this is a new technology that allows for unprecedented operations, including in global markets, without any restrictions on turnover and without the participation of intermediaries. That is, prospects for bitcoins are very bright.
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Yakapo
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May 09, 2018, 09:17:28 PM Last edit: May 11, 2018, 06:06:46 AM by Yakapo |
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Bitcoin doesn't necessarily pose a threat to Banks, Its just a competition that has come with new and effective ways in the finance industry with an effort to make improvements on the incompetent banking systems. The fact that is independent and free of regulation makes it even worse for the banks as the money involved is tax free, a factor that proves to be attractive to most people. Bitcoin is a revolution in the making that will bring about lots of changes, the banking industry is under threat, but might not be faced out
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Mwalshe89
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May 09, 2018, 09:23:16 PM |
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they may try to impose restrictions on financial platforms that deal with crypto currency operations in order to force them to follow international agreements.
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phelbaby
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May 09, 2018, 09:28:19 PM |
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the banks will still be there because not everyone likes the online business ,investors will consider the security,taxes and criminal activities involve,at this will give far of loss and they will rather choose the bank
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PINAGPALA
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May 09, 2018, 09:30:08 PM |
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Yes off course Bank of America is worried about the threat of cryptocurrency to its business. and for me it has more high security than any other banks
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Glutius
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May 09, 2018, 10:18:27 PM |
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Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?
Of course bitcoin is a threat to banks. A Bank is a corrupt institution. Bitcoin does not tax the user. Bitcoin is much faster and more profitable. Bitcoin is anonymous. So can be still long to enumerate.
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rtm125
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May 09, 2018, 10:22:39 PM |
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Yes. Bitcoin is a threat to banks. Because it can't be controlled. It's all about decentralization. There is no third party to mediate between clients.
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VeLa.RE
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May 09, 2018, 10:37:18 PM |
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Of course it poses a threat to banks, however, what a lot of people are failing to realize is that the banks are not going to be a thing of the past. For bitcoin to reach mass adoption the process of purchasing it needs to be streamlined. Banks are unfortunately the way to do that.
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