big banks going against crypto

[TimeBits]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

bitcoin and bitswift

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[Ryan Dugan]

I store half of my money in bitcoin. I guess I believe. I have the usual altcoins (the ones you find in coinpayments) I sometimes rent mining power from rentmyrig and mine newer coins then sell them to increase my stock of the other coins I have. Then smaller amounts of "secondary" alt coins. Most with short lifespan or sometimes quitely in hte background with a low capital but a very long duration of existance. Those would be my favourite coins.

Banks are going against cryptocurrency because they've known its potential in the future so if they just do nothing against it then they will be gone. The time will come that cryptocurrency will be use more than banks or it may merge as online banking is already there.

Modernization is inevitable no matter how big industries try stop it, it's just a matter of who are willing to adjust and adopt.

They natural enemies like the rabbit and the fox. Both want the same things and the traditional fiat is feeling shaky in the presence of a better high tech technology.

[EdenHazard]

The perpsective banks and the users of cryptocurrencies are different. The bank will have an assume cryptocurrency is not safe either to be use as payment system and surely to be use as an asset. Because they know, if this system (fintech) grow up and be use by all people on this world then their function will be dissapear. In the fintech such as cryptocurrency we don't need a third party to save our money or to make every transaction and also for some exchange we don't need our personal identity when we make an account but in bank tradisional we need these thing and actually I was surfeit again it. I'm crypto user and since 2015 I have been holding bitcoin and I ever to move my all money on bank account to bitcoin. It was easy to mave it although my government has banned it.

[Leyss]

Why did you decide that Fin Tech banks will destroy traditional banks? This will never happen. With the advent and even widespread use of cryptocurrencies, traditional banks will not only not disappear, but will not experience much discomfort. In addition, it should be borne in mind that state banks are under the direct protection of the state. The state will destroy anyone who encroaches on the normal operation of the banking system.

[princesspoppy]

As cryptocurrencies takes over the world little by little, more and more people are switching and moving their assets to it.  Most people prefer bitcoin, as well as I, if I were to move my assets from banks. Banks offer low interests and it can be controlled that gives people reason not to trust it which is the opposite of bitcoin. Another thing,  bitcoin has the biggest potential to grow in the market. Another coin that I would to invest in is ethereum. 

[thesmallgod]

I guess you must have read alot about ICO that make mention of FIntech Bank. All I need to say is that,despite there are broad knowledge regarding financial institutions, there are still no stable and perfect understanding of what many ICO term as Fintech. Many traditional banks are now part of smaller financial institutions that many are calling Fintech. To answer you question, I do not think anybody who intend to hold his/her saving in cryptocurrency go for any other coin except Bitcoin. The research has shown that most crypto traders hold bitcoin as the highest part of the portfolio. as you can see some people here on the thread stated they hold Bitcoin.

[ReLieD]

Well this is not something unexpected. Obviously banks will have a problem with crypto's as people will start investing their money in cryptos and not in banks... This will cause the banks to have less production of source of income. Also banks try to put down cryptos by showing people drawbacks and people tend to believe it as well.. But in the end all that matters is people somehow show their trust on cryptos again and its prices rise up

[ene1980]

Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.

I did not understand how you correlate banks with the IT companies  , banks will be there forever and nothing is going to stop that, we will have both these facilities in the future, bitcoin is not meant to replace banks  .

Possibly every banking service render will adopt the technology as they've found people moving towards cryptocurrency from traditional banking. Banks have faced big loss, as large volume transactions have taken place much through cryptocurrency which is the reason for banks making opposition statements against cryptocurrencies.

It is not entirely true as none of the banks have published any data or i have not seen any data from any banks making that claim that they had their losses due to the advent of cryptocurrency, your statement might be true in the future when major traders shift over to bitcoin when they are doing international trades and that is not the situation now as bitcoin is still in its infant situation.

[pragna]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

Yes i think it should be in BTC . Because if i see from first to last of BTC market i think my mind obviously support here for investment. I could not find any alternative that can give me profit like this. In near future i think it will be most topest ever in the world economy.

[josephdd1]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

By sweeping I think you are implying buying into an asset? in that case I will choose any of the stable coins first.. well maybe except tether  andI only wish when I started people told me about stable coins first, that way I would have saved so much of my money that got lost in swinging asset value.

and remember thet JPM Coin exists, JP morgan is not the first bank in us with its own crypto but do you see any fud or hype about it? know why? because they're actually using the crypto for its tech benefit and not based on hyped value. More and more banks will follow the same path as the industry matures.

[Ryan Dugan]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

Yes i think it should be in BTC . Because if i see from first to last of BTC market i think my mind obviously support here for investment. I could not find any alternative that can give me profit like this. In near future i think it will be most topest ever in the world economy.

It is not just that. It is also the ability to be paid and knows you will be getting paid because the transaction cannot be reversed. It makes working online easy and if you normally get paid with paypal you can talk to the people you do work for and get them to pay you in bitcoin instead of whatever way they would normally use. In this way bitcoin empowers us. I just love how easy it all is and no need for banking things or long waits.
The trading and investing side of things that are also profitable and I agree I too cannot see any alternative. I don't want to and I don't need to. I have chosen to live the crypto life and I will never turn back. xD

[wdnj]

All the things that can banks do will be done just to stop cryptocurrency on manipulation of the world currency.
Though, BANKS will never succeed and sooner or later they will adopt the new currency and go with the flow!

[Payme21]

Sooner or later, the big banks will have no better option than to fully implement blockchain into their tech base as its sweeping all spheres of life

[bettercrypto]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

It will already happens since bitcoin is the rivalry of banks. We already change our system of investment and probably, many banks are looking for another way to destruct bitcoin. They want bitcoin to destroy because of their benefits. However, I am thinking that bank is also concern about investors because we don't know what is the goodness of our investment and savings in cryptocurrency.

[btc_angela]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

I think majority will say bitcoin here. It is so far the best performing asset, yes, you heard it right. It has gain more than gold and oil, https://www.ccn.com/surging-bitcoin-2019-best-asset-globally. Maybe there are a few who will go for privacy coins, for obvious reasons.

[pooya87]

do you even have to ask?
we don't have any cryptocurrency that is reliable other than bitcoin. so the choice is very simple since we only have one option. the others are either so unreliable and unsafe that we can't trust them. for example ethereum is not immutable and it is centralized, or they are doomed to fail because of their design decisions like having unlimited supply, having gigantic blockchain size that prevents regular users from running a full node,...

[Pursuer]

it is strange that you are coming up with a new term called "FinTech banks" which doesn't even exist! but as for the big banks and their going against bitcoin is not a new thing. they have always felt threatened by bitcoin because it is out of their control, unlike fiat that they fully control and is their survival. so they have gone against it so that they could at least slow down its mass adoption and their demise.
but it won't last like this. eventually they will realize their defeat and see  that they have no other option but to adopt bitcoin themselves and start changing their structure in order to survive longer or become obsolete if they don't.

[kotajikikox]

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

I think Im gonna use Bitcoin if ever I transfer my fund.mostly I think they gonna choose to use bitcoin because it is trusted that your fund is secure.well as I always said it is easy to use base on my experience.

[ene1980]

do you even have to ask?
we don't have any cryptocurrency that is reliable other than bitcoin. so the choice is very simple since we only have one option. the others are either so unreliable and unsafe that we can't trust them. for example ethereum is not immutable and it is centralized, or they are doomed to fail because of their design decisions like having unlimited supply, having gigantic blockchain size that prevents regular users from running a full node,...

It is true that bitcoin is the only reliable coin in the entire market and none of the people who invested in bitcoin will not end up in a loss until they do some foolish shit and start selling when the market goes down and bitcoin is the only coin you can trust in the long term, but i have a difference in opinion when it comes to every Jack and Harry running a full node, if someone is planning to run a full node they have to upgrade to the minimum standards required and it is my opinion regarding that as majority of the users are here to invest in it and use the platform and not to run the full node, it is a honorable position if someone wants to run a full node to help the network become decentralized  .

[Beerwizzard]

Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.

I did not understand how you correlate banks with the IT companies  , banks will be there forever and nothing is going to stop that, we will have both these facilities in the future, bitcoin is not meant to replace banks  .

Traditional banks are earning their money from maintaining people's card transactions (acquiring). This is why they are happy to provide credit cards with 0% loan.
All of them have their huge IT teams that are gathering data from their clients (both companies and private users) to increase their profit. Even all those AML things they do is nothing more than an algorithm that is looking for deviations. Almost all their activities is a pure IT stuff. What else is not clear?