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Author Topic: Influence of the conventional banking system on cryptocurrency universe  (Read 55 times)
retlaw04
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January 27, 2018, 11:44:00 AM
 #1

What do you all mean? How far has the influence of banks and funds already progressed? How much does the well-known banking system affect our community?
IMF, rating agencies, funds, hedge funds, governments, bank lobbies, individual banks.
On the one hand, more and more institutions are mobilizing against bitcoin and crypto currencies. And on the other hand, they slowly turn out to be big players.

How far will that go? And does that have a positive or negative impact?

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January 27, 2018, 12:00:55 PM
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What do you all mean? How far has the influence of banks and funds already progressed?

Banking is already white business and no one can do anything about that in long run. They are the sole symbol of traditional finance management and their out reach is a way lot than the crypto if you compare with it! Banks are having physical presence which means that they influence the whole society in the physical manner or more or less with all the personal contacts and presence. This creates a good impression on the investor whether that is individual or an entrepreneur.

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How much does the well-known banking system affect our community?

I would say it affects upto the personal feelings! Tell me you don't like your bank? You would probably be confused but you will say no. The reason is simple, it is providing us best available services that any financial institute can provide us (say crypto), and it is giving you 24X7 live support to solve any issue you raise. Who will do that in the crypto ?

It engages with the people socially and personally and thats why people love it the easy way.

Quote
IMF, rating agencies, funds, hedge funds, governments, bank lobbies, individual banks.
On the one hand, more and more institutions are mobilizing against bitcoin and crypto currencies. And on the other hand, they slowly turn out to be big players.

How far will that go? And does that have a positive or negative impact?

Yes it weighs a lot! Meaning, banking has opened up its door in all the possible ways which no crypto can really achieve and provide in the decentralised manner. The opposition of these banking system is only applicable as long as government is against crypto. If any government for specific country turns out positive then I believe all the financial institutes within the country will favour the crypto currency. So its all about the time and who is who!
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January 27, 2018, 12:21:26 PM
 #3

What do you all mean? How far has the influence of banks and funds already progressed? How much does the well-known banking system affect our community?
IMF, rating agencies, funds, hedge funds, governments, bank lobbies, individual banks.
On the one hand, more and more institutions are mobilizing against bitcoin and crypto currencies. And on the other hand, they slowly turn out to be big players.

How far will that go? And does that have a positive or negative impact?

It has both positive and negative impacts over the cryptocurrency prices and  our community.
Some bankers want to destroy crypto,other bankers want to benefit from it.We can`t tell which one will win.
2018 will be a crusial year for the worldwide financial system.The dollar is decreasing it`s value and this will force the European central bank and central bank of Japan to start priniting money,in order to compete with the federal reserve system.We might see another big cryptocurrency pump at the end of 2018.


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January 27, 2018, 12:57:26 PM
 #4

Modern banking system is unable to coexist with cryptocurrencies. They lose in the competition. So it seems to me that the banks will fight bitcoin. On the side of the bankers will fight the government. Ordinary users of cryptocurrency will be difficult to win this war. To win you need to combine all. Now this is not happening. Greed makes people enemies. This will benefit the bankers.

 
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January 27, 2018, 01:12:35 PM
 #5

While global regulators are suspicious of cryptocurrencies, bankers are retreating from traditional finance and choosing to enter the world of cryptocurrency. They see the digital coinage ecosystem as an incredible feast for the world.

No bankers are retreating from traditional finance, that's ridiculous. The best you an Day is that some financial institutions are dabbling in blockchain technology (Ripple is a prime example), as well as internal blockchains for internal document retention. But in no case is it accurate to say that any institution pursuing these initiatives are doing so instead of their traditional businesses, it's being done on the side.
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January 27, 2018, 01:49:53 PM
 #6

While worldwide controllers are suspicious of digital forms of money, brokers are withdrawing from customary back and entering the universe of cryptographic money. They see the computerized coinage environment as a fantastic devour for the world
retlaw04
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January 27, 2018, 02:00:22 PM
 #7

Modern banking system is unable to coexist with cryptocurrencies. They lose in the competition. So it seems to me that the banks will fight bitcoin. On the side of the bankers will fight the government. Ordinary users of cryptocurrency will be difficult to win this war. To win you need to combine all. Now this is not happening. Greed makes people enemies. This will benefit the bankers.

However, the strong financial commitment of banks can no longer be denied.

Whether that only serves to destroy the Crypto system or is driven by even greater greed for profit is of course also a question.

retlaw04
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January 27, 2018, 02:04:57 PM
 #8

While global regulators are suspicious of cryptocurrencies, bankers are retreating from traditional finance and choosing to enter the world of cryptocurrency. They see the digital coinage ecosystem as an incredible feast for the world.

No bankers are retreating from traditional finance, that's ridiculous. The best you an Day is that some financial institutions are dabbling in blockchain technology (Ripple is a prime example), as well as internal blockchains for internal document retention. But in no case is it accurate to say that any institution pursuing these initiatives are doing so instead of their traditional businesses, it's being done on the side.

I think the banks are on a parallel course. There is enough money - for both markets. We know this.
The effects we experience daily in the price movements.

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January 31, 2018, 04:25:31 PM
 #9

If only we know the way our entire life is tied to the entire banking industry, we will know that the influence of the banking system on even the crypto currency universe is enormous and one thing they have to their advantage is that they are evolving with the current technology. Today even government is relying on the banking sector of the economy to drive any of its economic policy even to the extent of political victimisation.

If the whole banks in a country should start flagging every transaction that have to do with crypto, then that is the end of crypto currency all this put together show the amount of influence of bank on the entire crypto market.




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January 31, 2018, 06:00:37 PM
 #10

Of course the bankers are struggling with cryptocurrencies. But many of them pumping situation are themselves market participants as it is profitable and they know it. So I think that will be passed some kind of threshold when the number of participating financial institutions will be so large that the opponents of cryptocurrencies will have to accept a new financial system.
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