Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: TomPluz on November 05, 2021, 12:56:20 PM
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
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Talking about disadvantages if the bank getting in bitcoin, I think the government will take the tax.
Because the government can track your crypto transaction.
I think It's not good idea, if the banks will get bitcoin.
In my opinion, Let bitcoin and altcoins stay the way they are, because I think government and bank intervention will destroy the market.
Crypto currency is volatile, no one can control crypto currency. So, don't let the bank and the government interfere.
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It is too early to say that the banking system accepts bitcoin and other cryptocurrencies. However, there is indeed such a trend. Paradoxical as it may sound, the coronavirus pandemic helped in part in this. Banks and their governments quickly realized in this situation that their traditional payment system was already decently outdated. Of course, they are unlikely to switch to using cryptocurrency, but in part, one can still hope, as it happens with ripple. However, they will mostly use their digitized currency. But even this general process has a positive effect on the decentralized cryptocurrency. Such cooperation is necessary because it is the only way to create an infrastructure for using cryptocurrency as a means of payment. Without this, cryptocurrency will remain a means of accumulation and speculation.
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Talking about disadvantages if the bank getting in bitcoin, I think the government will take the tax.
Because the government can track your crypto transaction.
I think It's not good idea, if the banks will get bitcoin.
In my opinion, Let bitcoin and altcoins stay the way they are, because I think government and bank intervention will destroy the market.
Cryptocurrency is volatile, no one can control cryptocurrency. So, don't let the bank and the government interfere.
If you believe that cryptocurrency is volatile and no one can control the cryptocurrency market then you shouldn't bother whether the Governments and the banks are getting involved in the space because they too have realized there is much to gain in the crypto investment and they don't want to miss out hence their involvement now, so do not worry, they can not disrupt the system.
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so do not worry, they can not disrupt the system.
I agree, the government and banks cannot disrupt the system.
So, no worries about the government and banks , if they will get crypto currency.
The government and banks should addopt crypto technology because the will miss out , many big companies already addopted blockchain technology.
Digital era will come soon.
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Financial Advisors are constantly working with it and they will able to get a way to adopt bitcoin in banking sectors. Currently crypto currency get a new stage where there future is rally appreciable. It it is adopt with banking sectors with analysis of advantages or disadvantages then i should say that crypto community will get good times.
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It is too early to say that the banking system accepts bitcoin and other cryptocurrencies. However, there is indeed such a trend. Paradoxical as it may sound, the coronavirus pandemic helped in part in this. Banks and their governments quickly realized in this situation that their traditional payment system was already decently outdated. Of course, they are unlikely to switch to using cryptocurrency, but in part, one can still hope, as it happens with ripple. However, they will mostly use their digitized currency. But even this general process has a positive effect on the decentralized cryptocurrency. Such cooperation is necessary because it is the only way to create an infrastructure for using cryptocurrency as a means of payment. Without this, cryptocurrency will remain a means of accumulation and speculation.
I think it's good that banks are entering Bitcoin. But I can't explain why it's good. Because I'm a new member of this forum so I don't have the right knowledge. Hopefully in the future I will have the opportunity to speak right here. ्
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Banks have been in Bitcoin and crypto for much longer than we imagine. As an example, here is a link for you to see for yourself: https://www.bbvaresearch.com/wp-content/uploads/migrados/130731_ObservatorioEconomicoEEUU_Bitcoin_tcm346-398292.pdf
That article is written in Spanish, but as you can see it was written on July 31, 2013 to be presented to various European investors, that same year, BBVA bought 5,000 Bitcoins. Banks have been in crypto for a long time, using the double game of FUD to buy very cheap.
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I think it's very positive for Bitcoin. Because if all the banks in the world accept Bitcoin, then Bitcoin will soon be in a better position. It is seen that the popularity of Bitcoin is increasing with the change of time. Bitcoin has already become the most popular currency in the world. So I think the step that the bank has taken is undoubtedly a very good step.
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I think it's very positive for Bitcoin. Because if all the banks in the world accept Bitcoin, then Bitcoin will soon be in a better position. It is seen that the popularity of Bitcoin is increasing with the change of time. Bitcoin has already become the most popular currency in the world. So I think the step that the bank has taken is undoubtedly a very good step.
That banks enter Bitcoin and other cryptocurrencies does not mean that it is to offer their customers a new financial product and thus make cryptocurrencies more popular in the world, they do it for their own benefit and speculative product, as some groups of investors did a few years ago. The day that banks actually offer cryptocurrencies as a product for their clients, it will be with very high sales and custody commissions.
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It is good for us that banks are entering Bitcoin. But I think it's bad for banks. Because we do transactions in the bank. If you know about cryptomarket, more people will make transactions here, which will reduce the chances of the bank becoming a customer.
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Financial Advisors are constantly working with it and they will able to get a way to adopt bitcoin in banking sectors. Currently crypto currency get a new stage where there future is rally appreciable. It it is adopt with banking sectors with analysis of advantages or disadvantages then i should say that crypto community will get good times.
Certain cooperation of cryptocurrency with banks in any case will positively affect the growth of popularity of cryptocurrency and its liquidity. People will trust cryptocurrency more when they see solid financial institutions like banks working with it. All the more so if these are state banks. If this happens, the state will probably legalize cryptocurrency in parallel with this, because the bank, in principle, will not work with a financial asset if its legal status is not established.
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Certain cooperation of cryptocurrency with banks in any case will positively affect the growth of popularity of cryptocurrency and its liquidity. People will trust cryptocurrency more when they see solid financial institutions like banks working with it. All the more so if these are state banks. If this happens, the state will probably legalize cryptocurrency in parallel with this, because the bank, in principle, will not work with a financial asset if its legal status is not established.
I think the opposite because I don't see it in such a "friendly" way. Banks have always attacked and despised Bitcoin (and all cryptocurrencies) for many years, when they began to realize that it could be a competitor. It is now that banks realize that society is interested in cryptocurrencies and they want their share of the pie, charging large commissions for sale and custody mainly. Cryptocurrencies don't need banks, they have always been responsible for the biggest economic catastrophes in history.
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Banks have been in Bitcoin and crypto for much longer than we imagine. As an example, here is a link for you to see for yourself: https://www.bbvaresearch.com/wp-content/uploads/migrados/130731_ObservatorioEconomicoEEUU_Bitcoin_tcm346-398292.pdf
That article is written in Spanish, but as you can see it was written on July 31, 2013 to be presented to various European investors, that same year, BBVA bought 5,000 Bitcoins. Banks have been in crypto for a long time, using the double game of FUD to buy very cheap.
You are right. This is why I dont really bother myself with whatever is being said online because for those that have come to understand that these Banks and even maybe some Governments that have not publicly accepted the adoption of Bitcoin might have been secretly investing init for a long time and they are the ones that cause all the FUD to drag down the prices so they can load up again.
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This is a very positive aspect as banks are accepting bitcoin. I can't go any worse in this matter. But so far banks in all countries of the world are not accepting bitcoin. Only a few countries are accepting bitcoin which is a very positive thing for bitcoin. Hopefully, with the passage of time, Bitcoin will spread all over the world. And let the banks of all the countries of the world support Bitcoin.
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We should all welcome Bitcoin. This is one of the biggest debts for Bitcoin. Because if all the banks in the world support Bitcoin, then the price and popularity of Bitcoin will increase more than before.Already but the popularity of Bitcoin has increased a lot. Needless to say, if Bitcoin is approved in all countries of the world, then Bitcoin will go to another level. 3
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I think it's a great thing that Bitcoin Bank has created right now. Because various transactions are done by Bitcoin, Bitcoin Bank has been created for its convenience. I think a lot of technology has evolved now because of doing this so this is a good moment for Bitcoin.
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The entry of traditional banks into Cryptocurrencies, Bitcoin in particular is an advancement in Crypto itself. Moreover, if conventional banks and cryptocurrencies can merge, then this is big news that deserves to be published. And that is good, because we no longer have to worry about our Cryptocurrency assets, because everything will be safe.
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Bitcoin's position or cryptocurrency position has moved to a much better position in 2021 than it was in 2017. The price of Bitcoin has now touched 67887 dollar compared to the past. If you compare now with the past, you can see that the price of Bitcoin in 2017 was from 17,000 dollar to 18,000 dollar. So if you compare the present with the past you will definitely understand the price of bitcoin.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
Sure, It wil be good if banks will get in to bitcoin. But I think It is impossible to happen at the next few years. because I see there are many countries still blocked bitcopin and refuse this technology. They said bitcoin cannot be controlled, of course no one can control bitcoin.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
It's good, if banks getting into bitcoin. But I don't think It will happen at the next year.
Because bitcoin still hasn't been accepted yet, at several countries and I bank hasn't support bitcoin yet
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You are right. This is why I dont really bother myself with whatever is being said online because for those that have come to understand that these Banks and even maybe some Governments that have not publicly accepted the adoption of Bitcoin might have been secretly investing init for a long time and they are the ones that cause all the FUD to drag down the prices so they can load up again.
Exactly. Banks have been buying Bitcoin and other cryptocurrencies for a long time, using the FUD game when it suited them to make prices drop drastically to buy more. The same thing happened with JP Morgan Chase years ago, they spoke very badly saying that Bitcoin was a scam and a few months later we could see evidence of how JP Morgan bought Bitcoin on Poloniex. Banks and some large investment groups only play lies and manipulation to obtain more benefits.
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It is very good if Bitcoin is accepted by the Bank because it is certain that the Bank has certain regulations that strengthen Bitcoin being accepted at a Bank, which is where almost all Banks in the world do not like Bitcoin because they are tripped by existing regulations.
But it is possible that there will be a polemic that must be resolved immediately if the Bank accepts Bitcoin payments and it is also possible that the Bank accepts this Bitcoin as an investment tool only to take profits in the future.
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Bitcoin to banks is a rival, once bitcoin is Accepted in a country 1. You already have a bank "your wallet" in your personal control.
My country doesn't have enough smart security agents to understand and track your wallet, the major investigations they do is to search your bank account transaction details.
Most people here just see bitcoin as business, just to invest and get their profit,spend it while it last. Instead of seeing it as a forever currency.
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The more recognition from various financial institutions in various worlds, the better the image of Bitcoin and the Bank is now entering the cryptocurrency space, so it will be very good for the ecosystem of Bitcoin and various altcoins that are already circulating in the cryptocurrency market.
But behind that, the Bank must have certain regulations because it is also impossible for the Bank to accept Bitcoin for granted, after all this, this is the best way for us to have Bitcoin and become a Hodler for the future.
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long time ago many financial institutions like banks and credit companies hate bitcoin.few years had passed, gradually majority of this firms are now embracing bitcoin just like the recent news about the MasterCard is partnering with top crypto companies from Asia to accept bitcoin as credit card payment.
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This is why I dont really bother myself with whatever is being said online because for those that have come to understand that these Banks and even maybe some Governments that have not publicly accepted the adoption of Bitcoin might have been secretly investing init for a long time and they are the ones that cause all the FUD to drag down the prices so they can load up again.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
Good, If banks get in bitcoin, But I think It's impossible to happen for the next few years
Because I see banks didn't attract to allow and adopt bitcoin.
Maybe at the next several years, we will see.
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I think if bank should get into Bitcoin market in order to enable crypto currency transactions it will be a good idea because it will definitely make transactions easy just sell and Exchange your Bitcoin directly from the Cryptocurrency exchange straight to your bank account without stress, for me I buy the idea for Bank to work with Bitcoin market instead of using peer to peer to transact your Bitcoin and other Cryptocurrency project.
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That's great but bank only need the technology not the coin, for this one I think many country will agree. Until now ( maybe forever ), fiat still become the main product and I never know bank release their own coin. I believe bitcoin will stay in their road and never disturb any fiat, both need each other with special way. Bank is bridge and bitcoin are vehicle both have different function and should work together not against each other.
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That's great but bank only need the technology not the coin, for this one I think many country will agree. Until now ( maybe forever ), fiat still become the main product and I never know bank release their own coin. I believe bitcoin will stay in their road and never disturb any fiat, both need each other with special way. Bank is bridge and bitcoin are vehicle both have different function and should work together not against each other.
Yes ,I agree I think bank only need the block chain technology for their development projects, If the allow.
Because I see many banks seem not allow and adopt crypto technology.
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Yes ,I agree I think bank only need the block chain technology for their development projects, If the allow.
Because I see many banks seem not allow and adopt crypto technology.
It is normal that banks want to use blockchain technology, they want a piece of the cake, that is why they will never directly support cryptocurrencies, their most direct rivals. Banks will adapt blockchain to their businesses (with private chains of course) and will try to "tell" the world that they are pioneers. Fortunately, not everyone will believe them. Blockchain is precisely the technology that shows that banks, with their business models, are obsolete.
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Yes ,I agree I think bank only need the block chain technology for their development projects, If the allow.
Because I see many banks seem not allow and adopt crypto technology.
It is normal that banks want to use blockchain technology, they want a piece of the cake, that is why they will never directly support cryptocurrencies, their most direct rivals. Banks will adapt blockchain to their businesses (with private chains of course) and will try to "tell" the world that they are pioneers. Fortunately, not everyone will believe them. Blockchain is precisely the technology that shows that banks, with their business models, are obsolete.
Banks are forced to implement blockchain technology into their banking system, as they have seen that in practice it is much more efficient than their outdated SWIFT method. Like any financial structure, they will implement everything that will allow them to generate more profit and attract new users of the services they provide.
The fact that banks use cryptocurrencies for this, for example, like Ripple, is very good in my opinion. Any such interpenetration is welcome. This will mean that cryptocurrency is more firmly included in our world and everyday life.
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Banks are forced to implement blockchain technology into their banking system, as they have seen that in practice it is much more efficient than their outdated SWIFT method. Like any financial structure, they will implement everything that will allow them to generate more profit and attract new users of the services they provide.
The fact that banks use cryptocurrencies for this, for example, like Ripple, is very good in my opinion. Any such interpenetration is welcome. This will mean that cryptocurrency is more firmly included in our world and everyday life.
I believe that the case of XRP in Japan, where it is used by banks, and the case of El Salvador, where Bitcoin is a legal currency, are the only cases in which a country uses cryptocurrencies with the approval of governments. What we can see more and more are additional services from banks or other types of companies, yesterday for example I saw how a personal security company launched a cryptocurrency custody service.
Banks know that their business model has been outdated for years, the emergence of Bitcoin and blockchain has "saved" their lives, but governments must legislate, otherwise banks will do what they want, as always.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
Of course good if banks will get in to bitcoin.
But, I think It needs the government regulations.
So, Not easy to happen.
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Is not this is kinda like governement trackin us? suppose I have not done any single transaction yet of crypto by bank because this is not allowed here and the govt don't know I deal with crypto. So if the bank now start to accept bank and give us the opportunity to swap or crypto from bank, this means bank are taking document and prove for us which will be harmful for us later for sure. This is the bad advantage of crypto for sure!
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I think it may not be a bad thing, if banks wish to trade Bitcoin. It means that mainstream acceptance of cryptos is increasing.
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When the time comes, I think no country will be able to stay away from these crypto currencies. The era is now the era of technology and whoever stays away from technology becomes a poor country. Currently, most countries are concerned about their own currency being damaged so that it does not fall into the background, but the day will come when all of them will have to use bitcoin or other alternative currencies. This is not so long after. It will be in the very near future.
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I think it is bad news because bank charge taxes and fee and other charges. In my opinion this not good for all.
Bank should not be involve in cryptocurrency
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I think it is bad news because bank charge taxes and fee and other charges. In my opinion this not good for all.
Bank should not be involve in cryptocurrency
In part I agree with you, but we can't control everything. When we sell our cryptocurrencies and we want fiat, they also charge us commissions and taxes, regardless of whether we do it in a bank or in a specialized cryptocurrency store. I think what banks will do is offer services for cryptocurrencies, such as custody and the like, but at very high prices of course.
Think that many people could not invest in cryptocurrencies if they did not do it through their credit cards or bank transfers. In this case, banks are like the two sides of the coin, the good and the bad.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
First, banks getting into Bitcoin is a welcome development and it is a good idea. Crypto and the Blockchain is already shaking the banking/financial sector of the world and these sectors have no opinions than to come on board. Just take a look at DEFI, it has become a game changer on the financial sector that the bank has to integrate or they may become obsolete by rate of it's continuous developments.
Now, one of the disadvantages of the banks coming into crypto is possibly launching it crypto bank/financial sector that may become a duplicated efforts because crypto is still decentralized while the banks is operating a centralized system.
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I think this is bad. In any case, if the banking system somehow flies the bitcoin, then it will cease to be so popular, because complete decentralization and adaptation to the banking system will take place, and this is not needed by anyone, at least the crypto community.
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Is not this is kinda like governement trackin us? suppose I have not done any single transaction yet of crypto by bank because this is not allowed here and the govt don't know I deal with crypto. So if the bank now start to accept bank and give us the opportunity to swap or crypto from bank, this means bank are taking document and prove for us which will be harmful for us later for sure. This is the bad advantage of crypto for sure!
In cryptocurrency, we always have the right to choose which tools to use and which partners to choose. Therefore, for the exchange of cryptocurrency, we can always find more suitable structures than banks. But in general, if banks use cryptocurrency, it will be very good for its further implementation and distribution, because people's confidence in it will increase if government financial structures also use cryptocurrency.
Cryptocurrency, in order to be legalized, must coexist with banks and their currencies.
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I think this is bad. In any case, if the banking system somehow flies the bitcoin, then it will cease to be so popular, because complete decentralization and adaptation to the banking system will take place, and this is not needed by anyone, at least the crypto community.
Not bad at all. Why? Banks are always capable to elevate themselves to adopt the necessary change to cater the people. If they cannot upgrade their system, they might find themselves obsolete particularly when they are located in rich and advance country that are productive for any cost.
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Yes thats so good banks are entring in bitcoin if banks allow bitcoin that country will legal bitcoin for that's good for bitcoin now days good news are coming may be good news coming from USA it will good.
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I think it is absolutely good for cryptocurrency. Bank is trusted institution we know. And when bank accepting Bitcoin then cryptocurrency will more trusted for all investors and cryptocurrency holders. I believe it is absolutely good for cryptocurrency. For Bank getting into Bitcoin future of cryptocurrency market will bright. This market will be trusted and people will willing to into this market. As a result cryptocurrency market will established . I think it is good news for all cryptocurrency lovers.
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I think it is absolutely good for cryptocurrency. Bank is trusted institution we know. And when bank accepting Bitcoin then cryptocurrency will more trusted for all investors and cryptocurrency holders. I believe it is absolutely good for cryptocurrency. For Bank getting into Bitcoin future of cryptocurrency market will bright. This market will be trusted and people will willing to into this market. As a result cryptocurrency market will established . I think it is good news for all cryptocurrency lovers.
Agree with what you say, basically if there are a lot of government agencies that accept Bitcoin, then this will provide good news.
If there are many Banks that accept Bitcoin, then of course this will give peace to everyone who loves Bitcoin and Cryptocurrencies in general.
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Yes thats so good banks are entring in bitcoin if banks allow bitcoin that country will legal bitcoin for that's good for bitcoin now days good news are coming may be good news coming from USA it will good.
Banks have been the main cause of economic crises in the history of humanity, they have also allowed for decades the laundering of money from illicit activities. If banks enter the crypto industry it is not to improve the customer experience, it is to take their share of the pie at any cost. I understand that banks want to do it, but that does not mean that I like the idea or that it is necessary for the crypto ecosystem, from my experience with banks over the years, I know that they are one of the worst cancers in society.
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If the bank will adopt bitcoin they should warn to people that how risky it is if they really get into it because they may lose their money if the price will suddenly fall, it really cause panic to people and they will blame the bank, I think this is the one disadvantages.
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banks Are Getting Into Bitcoin: Bad or Good? That is to say, if Bitcoin or cryptocurrency is legalized in a country, then the country is moving towards a lot of development. And if it is possible to do a bitcoin transaction with a bank, then it will be much better. And will become like virtual reality. Then the number of cheaters will be much less and there will be no cheaters.
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I am still litle bit confused with this statement. Bank will be going to Bitcoin?
Do you mean banks are right now also focusing on crypto? Afaik yes because they are trying to use blockchain technology for cbdc. But only for several countries and this ia still debatable.
So far, Bitcoin is more complex & decentralozed, and we cannot comoare it to banks which are centralized.
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I am still litle bit confused with this statement. Bank will be going to Bitcoin?
Do you mean banks are right now also focusing on crypto? Afaik yes because they are trying to use blockchain technology for cbdc. But only for several countries and this ia still debatable.
So far, Bitcoin is more complex & decentralozed, and we cannot comoare it to banks which are centralized.
In addition to using blockchain to create various CBDCs, banks are entering the world of cryptocurrencies (not just Bitcoin) for very simple reasons. One of those reasons logically is the profit, offering cryptocurrency custody products (there are several banks and companies that do it, but I do not know the prices), another reason is the outdated model of banks and the need to update it. Personally, I don't like the idea of banks reaching out, cryptocurrencies have never needed them.
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In 2017, the boom in Bitcoin and cryptocurrency had been fueled by retail investors or those where ordinary guys like you and me were then taking the market by storm...little investors but in huge numbers but the disadvantage with this is that people can easily be swayed by FOMO can many were then burned partly resulting into the eventual crypto winter. Many were then dreaming that one day there can be institutional adoption...that was a hard dream at the that time because banks and other traditional institutions were rejecting the idea behind cryptocurrency much more participate on it. Fat forward into 2021, we are now seeing a different scenario because gradually many traditional institutions adopted Bitcoin and crypto and many embraced with gusto. I am sure that many would agree that this a very welcomed development but what are the disadvantages of these banks getting into Bitcoin?
Sure, good if bank get into bitcoin.
But I don't believe it will happen at the next several months.
It will take along time, because I see the governments didn't allow bitcoin and altcoin.
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This will definitely be a debate, because many will say Bitcoin does not need banks. Bitcoin is decentralized and we can do any activity related to Bitcoin without Banks, and all we need is the internet. But it would be good if it turns out that the Bank accepts Bitcoin, because this shows Bitcoin will be increasingly trusted by the general public.
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I think it is a very good step for the bank because it can develop and expand its platform to the banking world, but you should know that if the bank does something in cryptocurrency it will be very good because it can make it easier to buy and sell cryptocurrencies easily and unfortunately still not many banks are like that.
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Yes it good that banks are involving