Have Banks Started to Lose Sleep Over Bitcoin?
The growing popularity of Bitcoin as a powerful transaction tool and its ability to bank the unbanked has finally started making enough noise to wake up the traditional banking giants. Banks and financial services companies have been enjoying monopoly over the "money-moving" business for a long time, since its inception. Their only competition so far has been other companies delivering similar services. Not anymore, as the impact of Bitcoin on the banking sector is now being openly acknowledged by Jamie Dimon, CEO of JPMorgan Chase in his recent letter to shareholders. Banking the....
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Bitcoin does not sleep, nor do its markets. Most exchanges run 24/7, day and night, even on weekends and holidays. This is one reason some day traders — the people who trade on the price swings per hour or even per minute — use trading bots. These software programs can be plugged directly into exchanges, to apply trading strategies even when their operators are away from their computer, or busy doing something else. Indeed, if there is such a thing as “money making machines,” trading bots are it. Or are they? Strategies. Bots that are available on the market include Haasbot, Tradewave and....
Bitcoin remittance startups are invited to be part of an international conference happening next month in Istanbul. Bitcoin based services are gaining prominence in the global money transfer and remittance market. The role of Bitcoin and its potential to change the global economy is being recognized and acknowledged by the traditional players in banking and finance sectors. The recent letter to the stakeholders of JPMorgan Chase is one of the many examples. The inclusion of Bitcoin based companies to International Money Transfer Conference - IMTC EMEA 2015 further strengthens its position....
Crypto is making a positive noise as more people lose faith in central banks, Billionaire hedge fund investor Stanley Druckenmiller says. Druckenmiller is confident with the comeback of crypto, especially with the recent condition of the global economy as the world is combating both recession and inflation. Druckenmiller was recently interviewed by CNBC and he […]
The central bank said it will reach a decision on releasing a digital euro "towards the middle of 2021." In an interview today, Fabio Panetta, executive member of the European Central Bank said the ECB may only allow digital euro holdings “up to a certain threshold” but added that the rollout of the central bank digital currency was unlikely to cause banks to lose deposits. Specifically, Panetta said that this threshold “could be around €3,000” — worth roughly $3,600 — which he said would still meet most people’s cash needs. He added that these figures were ”still under discussion” and....
The current banking system and fiat currencies are obsolete. They are unfit to support the new economy. Banks are intermediaries and, as such, they can hinder or delay the free flow of businesses. Banks are expensive, especially for the poor. People lose money at banks, due to outrageous fees. People are fearful of putting their money in banks in....