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duncun007

Crypto vs Banks

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I love crypto not banks because bank not give us profit if we invest money in bank like we save some money in banks they charge so many tax and they give us low profit but if we buy the crypto coins and safe them for 1 to 2 years it give us good profit and charging low fee when we withdraw.


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i think both are very helpful for us and through bank and crypto we feel comfortable our life because both are giving us good service.

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On 10/15/2019 at 12:13 PM, bestprofi said:

Most big banks are now acknowledging that the technology behind cryptocurrencies should be treated as the next big thing.

But they are afraid of it too! They dont know how will things work well.For example lets say Facebook made libra. How would government take taxes from them ?

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On 10/15/2019 at 8:47 AM, duncun007 said:

governments could still come down hard on bitcoin by banning websites for exchanges or ban apps that help you buy bitcoin, he thing is even when you want to buy bitcoin you have to use your BANK account...

If it were as easy as said, government would have long ago buried Bitcoin and cryptocurrency, but it turned out Bitcoin is not a nut to crack, Reality is government cannot effectively ban cryptocurrency, much they can do is the regulation they are pushing forward. People have tested what it is like to have the say over their and they are not about to give that up - any attempt by government to ban Bitcoin, will only intensify surge to privacy coins.


 

 

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On 10/15/2019 at 2:10 PM, duncun007 said:

Ever since the financial crisis 2008 people became aware that their money isnt safe at banks and so are their investments, bitcoin emerged as a savior and an alternative that might eventually replace banks, (fast-forward thru the parts where bitcoin price went from .01$ to 20k)  I've heard too many mainstream economists saying bitcoin isnt going to last and no sane government would accept it because simply we dont know who controls it.

my question is in this ongoing war between bitcoin and banks who is going to win and why?

 

I think the bank will be the winner with the power of the government, we know that more and more people investing in bitcoin banks feel threatened because they cannot manage their customers' deposited deposits, on the one hand the bank also does not get taxes every month from customer money, while in crypto we are tax-free from the assets we have, this is why the government sometimes intervenes.

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1 hour ago, wade8752 said:

I think at this moment it is too difficult to live with out Banks. Because crypto currency are in limited number of using in whole world and  some organization or beaches. But we can hope to live without banks when crypto will lead whole worlds economy.

You know, people is already used to banks, old people have bad times getting comfortable with new technologies. Crypto will never replace traditional systems, they will strengthen them, not more, not less.

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I think that no one will benefit if banks and cryptocurrency start rejecting each other-it will only be worse for banks and for cryptocurrency

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On 10/15/2019 at 3:10 PM, duncun007 said:

Ever since the financial crisis 2008 people became aware that their money isnt safe at banks and so are their investments, bitcoin emerged as a savior and an alternative that might eventually replace banks, (fast-forward thru the parts where bitcoin price went from .01$ to 20k)  I've heard too many mainstream economists saying bitcoin isnt going to last and no sane government would accept it because simply we dont know who controls it.

my question is in this ongoing war between bitcoin and banks who is going to win and why?

 

I think banks will win if theres a war on bitcoin Vs bank. I think banks are more safe to use on storing money since we can see them physically. And I think you are more vulnerable on threats when you are using bitcoin.

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39 minutes ago, Rafik said:

bank is an old financial institution where crypto is a advence world. people are comming towards crypto now. so crypto is going to win

Yea more people are being aware of bitcoin and crypto in general but its the government's that need to legitimize it to be adopted worldwide.
10 minutes ago, haiphuc6328 said:

I realize that between banks and cryptocurrencies banks will win. In this race, cryptocurrencies have many advantages but cannot be ready like banks. Banks were born from the inevitable of each nation, so it certainly never collapsed but instead expanded. That is my opinion, what about you?

Yea for now its too early for crypto because its still in its early phases

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5 hours ago, lilykool said:

But they are afraid of it too! They dont know how will things work well.For example lets say Facebook made libra. How would government take taxes from them ?

You didn't set a good example. Libra is a currency that does not enjoy the decentralization of cryptocurrencies and is governed by the Libra Association, a consortium of which Mastercard, PayPal, Visa. So the direct connection with financial institutions.

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i personally prefer to keep my savings in bitcoin and stable coin, i don't trust banks, they can fail, they have hidden management costs and there is no privacy, the crypto will win this war


 

 

 

 
 
 

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Unlike banks in crypto currencies you can transfer from person to person, so it is a great advantage that banks do not have and never will have. The low commissions and speed of each transaction is another advantage that banks do not have, you also have to do a lot of paperwork in the banks which is an annoying thing to do.

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32 minutes ago, Lucifer said:

Unlike banks in crypto currencies you can transfer from person to person, so it is a great advantage that banks do not have and never will have. The low commissions and speed of each transaction is another advantage that banks do not have, you also have to do a lot of paperwork in the banks which is an annoying thing to do.

Well banks also allow you to transfer money from one person to the other....thats literally what they do...but yea the fast transactions are the advantages of crypto

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2 hours ago, duncun007 said:

Well banks also allow you to transfer money from one person to the other....thats literally what they do...but yea the fast transactions are the advantages of crypto

I was referring to the possibility of doing it without the need of a third party, but well maybe I wrote my post wrong. Sorry.

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in my opinion both of them became very broad rivals because they both had very good potential and both did not want to die. so crypto and banks continue to compete to be the best.

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On 11/4/2019 at 11:48 AM, niroblm said:

i think crypto is more secure then bank. in crypto there's no chance to lost you money if your password is hard and you store it offline  otherhand bank kill our time and money

Your income is absolutely right and I agree with your opinion.
Crypto is safer and more convenient to use than banks. Moreover, crypto is more profitable and provides a success for the future while banks are only storage space and banks are not profitable.

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10 hours ago, Lucifer said:

I was referring to the possibility of doing it without the need of a third party, but well maybe I wrote my post wrong. Sorry.

Oh yes thats correct because crypto will eliminate the need for third party like banks and even local offices that help transfer money and take 5-10% fee but the down side of a world with bitcoin will be the elimination of these jobs for good...

  • Useful or interesting 1

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3 hours ago, Luna disari said:

crypto will win. i know much people have lack of knowledge about crypto.  but they are knowing about it and one day they all will be able to use it properly and leave from useless banks

Yea the popularity index of bitcoin from google search shows that more people are searching about bitcoin and crypro in general and those will be the new blood in crypto soon.

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I preffer crypto because i have the control of my coins and no one else and also for the speed of transaction, sometimes banks only take a lot of comissions, but now still depends on some banks to withdraw money from crypto if need, i wait for the day when we can use crypto without banks. 

If most of people will pass on crypto then crypto will win. 

Edited by adriano2010

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5 minutes ago, wade8752 said:

I think at this moment it is too difficult to live with out Banks. Because crypto currency are in limited number of using in whole world and  some organization or beaches. But we can hope to live without banks when crypto will lead whole worlds economy.

I think we can not live without bank because bank is the fuel of the whole economy in the world. Bitcoin is also good but bank need to give some support to bitcoin

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I take cryptocurrency over banks, my cryptocurrency are fully under my possession I can do anything with it at anytime, I don't have to pay banks monthly fees and insurance, with cryptocurrency I just put it in my wallet and that is all.

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There are no winners, Banks and Crypto are winners. I think the Bank will still exist and will always coexist with Crypto.

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On 10/15/2019 at 12:21 PM, xBDT Script said:

Well isn't it the exact reason bitcoin should raise and last? The economy should not have a central controlling board. I mean why would a group of people will control the wealth of the world. Print out of the thin air? The idea of bitcoin born from decentralization and it means eliminate the centralized power.

Obviously then banks and those who are authorized to print money is not going to like it but I do not think they can not stop it either. They can create laws and stuffs but you think when a culture builds up and become strong then it's really possible to stop them? There will be a revolution soon. And crypto will win in this war.

We are building out army as we move.

Banks are not good i like crypto because the fee of crypto coins are so much low and it will transfer easily in just one or two minutes. Crypto is a good business and i love to work in it.In crypto business we can make good money through trading easily.


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9 hours ago, duncun007 said:

Oh yes thats correct because crypto will eliminate the need for third party like banks and even local offices that help transfer money and take 5-10% fee but the down side of a world with bitcoin will be the elimination of these jobs for good...

In the bitcoin white paper they talks about how person-to-person transactions should exist without any intermediary, pages where there is a third party such as paypal, you have to pay a lot of commissions and it is very dangerous to do.

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The government might be scared of cryptocurrency because it gives people the power. Most people depend on the Government for stability, but now with Bitcoin we can take back that control. I can manage my money the way I want to and it feels great. Who knows the future of cryptocurrency? I hope that it is here to stay. 

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Davis believes this impressive figure clearly indicates growing recognition of cryptocurrency and interest from institutional investors, especially from the US.   Strike CEO Jack Mallers predicts that during the ongoing bull rally, bitcoin could reach $250,000 and possibly rise in price to $1 million. On a podcast with Pomp Investments founder Anthony Pompliano, Mallers explained his bold forecast by stating that bitcoin is still at an early stage of development. According to him, the bond market is currently facing problems, so central banks may inject a significant amount of liquidity into the financial system to stabilize it. This liquidity influx will trigger an increase in the value of risky assets, including the leading cryptocurrency.   Jack Mallers disagrees with the notion that bitcoin is a bubble or a tool for speculation. The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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