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[AudraMiller]

The bank of england seems to be on a different end of the spectrum now. First they were considering making their own digital currency, however in a recent article, it seems that they are warning potential crypto investors of the dangers that are involved in dealing within this market. In fact, the bank is stating that instead of calling them cryptocurrencies they should rather be referred to as crypto assets. Do you agree with this notion, and do you think that this warning will take away from their release of their digital coin?

 

[LutherKing]

Well Banks Are Always Qginst Crypto Many Banks don't favour crypto at all they just want people deposit their money to them which is na

 

[AudraMiller]

Well Banks Are Always Qginst Crypto Many Banks don't favour crypto at all they just want people deposit their money to them which is na

The cryptocurrency community does pose a huge threat when it comes to the future of the banking and financial institutions as well. However i think that if a healthy relationship is created it could be good for both.

 

[BullyMaguire]

Things people should never take is when the words are coming from a potential competition.. they will ofcourse bad mouth crypto since it's a threat to em

 

[Wisdom01]

People that are investing already know the danger attached and they place their investment on risk mode ,so no need to issue warning people are aware already

 

[AudraMiller]

Things people should never take is when the words are coming from a potential competition.. they will ofcourse bad mouth crypto since it's a threat to em

This is a good point and many banks have been speaking very badly when it comes to cryptocurrency and this is a strategy that is also being employed by some of the politicians as well.

 

[Wisdom01]

This is a good point and many banks have been speaking very badly when it comes to cryptocurrency and this is a strategy that is also being employed by some of the politicians as well.

Most politician dosent like the existence of cryptocurrency so they can't just say it to the media direct ,so it won't affect their political career they prefer to now do it through the bank

 

[AudraMiller]

Most politician dosent like the existence of cryptocurrency so they can't just say it to the media direct ,so it won't affect their political career they prefer to now do it through the bank

That is true. However i have also noticed that there are some of them that are actually trying to use their support for crypto in order to rally political support for them.

 

[Wisdom01]

That is true. However i have also noticed that there are some of them that are actually trying to use their support for crypto in order to rally political support for them.

Yeah they are using it too as their political propaganda ,and they are deceiving their followers on what they can't provide which is really bad ,I hope some Bitcoin users don't fall for the trick

 

[AudraMiller]

Yeah they are using it too as their political propaganda ,and they are deceiving their followers on what they can't provide which is really bad ,I hope some Bitcoin users don't fall for the trick

People are easily influenced at the moment because they are looking for a way out of the pandemic losses that have been incurred. I think that the best thing to do would be to educate people on cryptocurrency.

 

[Wisdom01]

People are easily influenced at the moment because they are looking for a way out of the pandemic losses that have been incurred. I think that the best thing to do would be to educate people on cryptocurrency.

Hmm yeah educating people more about cryptocurrency would really be of help in increasing the support shown towards the existence of crypto currency in the coin

 

[BullyMaguire]

This is a good point and many banks have been speaking very badly when it comes to cryptocurrency and this is a strategy that is also being employed by some of the politicians as well.

Because if it becomes mainstream and people use it their business will go bad. Who needs banks if you use crypto currency.. people will use exchangers instead

 

[Wisdom01]

Because if it becomes mainstream and people use it their business will go bad. Who needs banks if you use crypto currency.. people will use exchangers instead

But the banks are now integrating cryptocurrency into their system and it's working for them , because since it have a physical location , people would probably trust them to carry out their crypto activities

 

[BullyMaguire]

But the banks are now integrating cryptocurrency into their system and it's working for them , because since it have a physical location , people would probably trust them to carry out their crypto activities

If it's those banks yes.. but banks like this one in England that doesn't support Cryptocurrency might go out of business if Cryptocurrency continued to be adopted and they're still skeptical

 

[Wisdom01]

If it's those banks yes.. but banks like this one in England that doesn't support Cryptocurrency might go out of business if Cryptocurrency continued to be adopted and they're still skeptical

 

[Wisdom01]

If it's those banks yes.. but banks like this one in England that doesn't support Cryptocurrency might go out of business if Cryptocurrency continued to be adopted and they're still skeptical

You are right , so many banks might be affected in operation ,if they are not willing to integrate and embrace the use ,they taught embracing the use would affect cryptocurrency not knowing it would have positive effect

 

[AudraMiller]

Because if it becomes mainstream and people use it their business will go bad. Who needs banks if you use crypto currency.. people will use exchangers instead

That is true. And the exchange fees are probably also a lot lower than we are currently paying in our local fiat currency to the bank for transactions and operation of the account as well.

 

[Wisdom01]

That is true. And the exchange fees are probably also a lot lower than we are currently paying in our local fiat currency to the bank for transactions and operation of the account as well.

I think you are right only that in some coins the transaction fee are high compared to the banks ,but I know that as time goes on like for instance the Creation of lightening network and many other development would lower the fee

 

[AudraMiller]

I think you are right only that in some coins the transaction fee are high compared to the banks ,but I know that as time goes on like for instance the Creation of lightening network and many other development would lower the fee

Exactly. There are much more developments that are being made regarding the cryptocurrency currency world and trying to make it more usable than we are seeing with the banking industry right now.

 

[Wisdom01]

Exactly. There are much more developments that are being made regarding the cryptocurrency currency world and trying to make it more usable than we are seeing with the banking industry right now.

truly the development is needed for more spike in price to continue to happen and the demand of Bitcoin continues to rise more than ever I think , the development could motivate investors