Post
Topic
Board Economics
Re: Bitcoin x banks
by
Btcnaivie
on 13/08/2018, 15:44:35 UTC
I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?



I don't think so mate. Banks have different visions of cryptocurrency. Money in a bank account accrues interest at a fixed rate, set by contract between the consumer and the bank. The currency itself can also change, typically through inflation which causes the value of each dollar in the account to erode. Although that erosion is tempered by the interest rate paid by your bank, it’s extremely rare for the bank to pay an interest rate that keeps up with actual inflation.while  bitcoin will change based primarily on market forces. With no regulating authority, and the supply of bitcoins in the marketplace fixed, the price of a single token is almost entirely dictated by supply and demand. This means that no government can erode a bitcoin’s value through inflationary policy, but it also means that the bitcoin is subject to far more severe swings in value.