Instant Bank Payments Will End Bitcoin/Ethereum Binge
In quotes by Financel Times Wiedmann says;
"My personal take on this is that central banks should strive to make existing payment systems more efficient and still faster than they already are – instant payment is the buzzword here. I’m pretty confident that this will reduce most citizens’ interest in digital currencies."
"Digital Currencies could worsen future financial crises, Wiedmann says"
"Allowing the public to hold claims on the central bank might make their liquid assets safer, because a central bank cannot become insolvent. This is a feature which will become relevant especially in times of crisis – when there will be a strong incentive for money holders to switch bank deposits into the official digital currency simply at the push of a button. But what might be a boon for savers in search of safety, might be a bane for banks, as this makes a bank run potentially even easier."
I think Wiedmann don't understand why we believe in crypto's. The main reasons for me to use cryptocurrency's are
- privacy
- speed
- too support great concept's which are possible due very small and quick transactions (SIA, Golem and much more concepts)
- and a lot of other reasons!
He is just protecting his own establishment, what can we other expect from him? I like more the fact that he is concerned about crypto currency which means that this technology is truely empowering the people for a decentralized money system. Thanks for your post!!!
Hi Nickschreuder,
When do you think we're going to see the flippening? Win 10 STEEM :) my link below:
https://steemit.com/ethereum/@steemthenews/the-flippening-is-comming-let-s-predict-the-flippening-date-and-win-10-steem
People all over the world (me included) buy Bitcoin to protect themselves against the devaluation of their national currency, especially in underdeveloped countries, which will ultimately change the whole game.
I would do the same, in China they will set new rules on 1 july. They will set a max of 50k a year and 10k a day to invest in crypto's. I think they will do this to minimize the devaluation of the currency. The Government seems to get more and more afraid of this trend
Wow! I hadn't read that news yet. Thanks for telling me.
Governments need to understand that the Crypto world is not going anywhere and with technologies like Decred they have to either jump on board, or they'll miss the train!
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