Hello crypto! Bye bye credits?

[Cryptoreflector_666]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

It will be hard to restore the cash if the digital money rate stays as unique. For instance, you will take a credit in bitcoins, and the coin will grow 3 times. In the event that under the terms of the agreement you need to restore the advance in a similar tomb, at that point you will likewise win from this. What's more, if the sum ought to be returned in Fiat, at that point there might be challenges.

The terms of the contract should be clearly and clearly spelled out the rules of lending in cryptocurrency. If you take the coin and have to return it to the coin, the terms will be the same. But if you take the equivalent of FIAT money in cryptocurrency coins, the conditions will be quite different. This is the main point, which is worth paying attention to when it comes to lending in the crypt.

[Cryptoreflector_666]

although bitcoin is completely dependent on the Fiat currency, we can not say anything reliable in this respect. It is possible that the situation will change towards the end of the year, this is merely a forecast that tends not to materialize.

bitcoin depends not only on Fiat currencies, but also on altcoins. As you know, when large amounts are poured into the altcoins, the bitcoin rate falls very rapidly down, and when the cash flows are sent to bitcoin, the fit currencies fail. It's like a swing, which must be very carefully monitored, that would earn good money.

[FO4R]

if banks may own a series of cryptos in their bank accounts,it wouldnt consider as decentralized because the banks has the access or controlled about the flow of cryptocurrencies that may result to the lending of some people who acts as bank clients.Thus,making cryptocurrencies as a major resources for businesses that may result to a financial growth of each economy.

[rolls89]

The question mark behind your subject says it all.How is it possible that Crypto can kill the banks?Banks are here to stay.Still in many second and third world countries banking has not reached to every nook and corner.The banking might adopt Crypto's but crypto eliminating bank seems a vague possibility

[@oweljayr]

You said hello crypto and bye bye credit right?  But then you were asking about loan with cryptocurrency?  So logically it is not good bye credit totally.  I don't think there would be such crypto banks from where we could get loans or such as well, and if there is, we could as well get our selves drowned from loan or credit, the way we do with regular currencies.

[indopool]

I do not think that banks will support decentralized cryptocurrency anytime in the near future. When it comes to loans, salary, I think we will see some smart contracts to facilitate repetitive tasks. Blockchain based cryptocurrency is still in the basic stages of development and I believe that these things are here to stay. On the other hand, banks will adopt blockchain technology to optimize their current infrastructure but still.

[Cryptoreflector_666]

if banks may own a series of cryptos in their bank accounts,it wouldnt consider as decentralized because the banks has the access or controlled about the flow of cryptocurrencies that may result to the lending of some people who acts as bank clients.Thus,making cryptocurrencies as a major resources for businesses that may result to a financial growth of each economy.

The flow of crypto conversions from the Bank will not greatly affect the situation on the market as a whole, since in the crypto currency it does not matter who has a controlling stake and all that thanks to decentralization. Even if you have 90% of the coins of this or that company, without a quick transfer of transactions it will be a dead useless cargo.

[Cryptoreflector_666]

The question mark behind your subject says it all.How is it possible that Crypto can kill the banks?Banks are here to stay.Still in many second and third world countries banking has not reached to every nook and corner.The banking might adopt Crypto's but crypto eliminating bank seems a vague possibility

Why do you think that? History knows many precedents when new, more advanced and promising technologies drove out of the way old, outdated technologies. It is so obvious that even examples should not be given. Yes, of course, the Bank is a fundamental body, but credit is just a tool that sooner or later will be improved and updated. And, in my opinion, the cryptocurrency will play an important role here.

[kelenikels]

Money through credit card/ Bank account/ Savings converted to crypto and crypto converted back to crypto when it's needed and this method will continue to exist as long as the government won't make a law that converted all money to somewhat the same with crypto.but if i were you who wants to make a debt to ico i will review the condition very hard to understand all of the consequence.

[Cryptoreflector_666]

You said hello crypto and bye bye credit right?  But then you were asking about loan with cryptocurrency?  So logically it is not good bye credit totally.  I don't think there would be such crypto banks from where we could get loans or such as well, and if there is, we could as well get our selves drowned from loan or credit, the way we do with regular currencies.

Banks will remain afloat in any case, in whatever direction the development goes. The only thing is that the Bank will be more profitable - to use the crypto-currency market for its commercial purposes and interests or to go against innovations and development to maintain its position in the financial world market. We will see this in the future, but the Bank is only acting in the direction of benefits. A fact.

[Cryptoreflector_666]

I do not think that banks will support decentralized cryptocurrency anytime in the near future. When it comes to loans, salary, I think we will see some smart contracts to facilitate repetitive tasks. Blockchain based cryptocurrency is still in the basic stages of development and I believe that these things are here to stay. On the other hand, banks will adopt blockchain technology to optimize their current infrastructure but still.

If banks still start the official use of cryptocurrencies for their commercial purposes ( including lending), then there will certainly be another alternative. After all, by and large, cryptocurrency is an alternative to Fiat currency with huge advantages in video anonymity of use, absence of taxes and decentralization.

[Cryptoreflector_666]

Money through credit card/ Bank account/ Savings converted to crypto and crypto converted back to crypto when it's needed and this method will continue to exist as long as the government won't make a law that converted all money to somewhat the same with crypto.but if i were you who wants to make a debt to ico i will review the condition very hard to understand all of the consequence.

The consequences are such that without certain legislation or at least a well-established system (completely transparent and logical in each step and action), no one will issue a loan without a guarantee of its return. Even if the percentage is very high, that the cryptocurrency market at this stage can afford.

[moonami]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I think this idea is not appropriate. Loaning on a cryptocurrency  maybe way difficult than loaning on banks. Also if this will happen, Bitcoin or cryptocurriencies should have more security for the safety of its loaners.

[Cryptoreflector_666]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I think this idea is not appropriate. Loaning on a cryptocurrency  maybe way difficult than loaning on banks. Also if this will happen, Bitcoin or cryptocurriencies should have more security for the safety of its loaners.

Of course, the security and guarantee on the part of the borrower should be at the level of official Bank documents, but at the moment the crypto-currency market can not provide even close to something like that, if we take into account such facts as theft of crypto-currency from wallets or simply a banal loss of password. This moment must be settled.

[Nick Abimanyu]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

 

The government will blockchain tech anywhere except banking......they don't deny tech .... the thing is they can' t believe a tech like this for their monetary system

You're right it's not difficult for them to do this kind of thing.
Like blockchain technology because blockchain technology can be implemented into their own banking system.
Not that they do not believe, but they are not able to exploit and explore the benefits of bitcoin.

[RolandoBTC]

Yes crypto is unbeleivable! But it is true many now are facing the fact that what are the usual problems before is been cracked by this bitcoin,i heared some of my friends who got involved here that they are much better in their financial freedom now,all their debts has been paid they are no worries like how they got it before,.they are so blessed and achieve their fullfillment and dreams in life.,so thats why im here now,i wanna be like them hope so.

[williamcastaneda]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

you can borrow to your friends or relatives or to your neighbors who have cryptocurrency

[popsywura]

Some sites have already started this mostly in bitcoin (you can google them out) and is a bit flexible to operate and process. But there are some certain conduct you will need to meet.
Cryptocurrencies system is very wide and am certain it can also offer the services rendered in the banking industries if well support and accepted.

[Sergio444]

The banking system is still in operation and crypto is a different avenue all together. If the banking system is to be replaced by crypto, then what will be the bases for determining the value prices of crypto in fiat. This is because if banking systems die off, fiat dies to since all banks deals in fiat. It will be awesome to have a crypto ban tho. But currently, most countries are banning the use of cryptocurrencies.

[Falmera]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I think loans are for banks alone. It is for fiat money alone. In crypto currency you cannot loan unless somebody will let you so. But it is so hard because its price is volatile.