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Author Topic: Taking Crypto Currency to the Next Level.  (Read 36721 times)

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #435 on: January 05, 2017, 11:37:33 PM »
After spending months in the $600 range, it shot from about $750 a month ago to $1,150 yesterday.” …. then down 20% overnight, and at the time of this post - breaking the $1,000 mark. What can we expect but get ready for a wild ride for the year.  I was almost convinced that the price of Bitcoin could be relatively stable as it matures. Perhaps not. Not when “China accounts for more than 95% of all trading in Bitcoin, so developments there have a large impact on the price.”



Forbes:
Laura Shin,  
 CONTRIBUTOR
JAN 5, 2017 @ 01:49 PM 

The 2 Factors That Drove Bitcoin's 20% Overnight Price Plunge

Bitcoin’s price has been on a tear recently.

After spending months in the $600 range, it shot from about $750 a month ago to $1,150 yesterday.
But that changed overnight as the price dropped about 22%, according to the CoinDesk Bitcoin Price Index. It's rebounded slightly and is now trading at around $975 as of press time.

Two main factors appear to be at play.
“What happened overnight is the yuan strengthened,” says Chris Burniske, blockchain products lead at ARK Investment Management. China accounts for more than 95% of all trading in Bitcoin, so developments there have a large impact on the price. Another factor may be traders taking profits since $1,150 is in the range of bitcoin’s previous all-time highs.

Burniske points out that the Chinese yuan had recently been devaluing, which tends to correlate with bitcoin strength, but that it rose 1% overnight.
“As a result, one of the notable things I saw is that Chinese bitcoin exchanges fell from trading at a premium over U.S. exchanges to actually trading at a discount, so there was a drop in demand on the Chinese exchanges,” says Burniske. Chinese bitcoin exchanges typically show higher prices for bitcoin than exchanges in other locations because of increased demand there.
“The fact that they’re at parity or at a discount shows the effect that the strengthening yuan has had on bitcoin markets,” he says.
The reason developments with China’s currency are correlated with bitcoin has to do with the Chinese government’s attempt to limit the flow of money out of the country. In response, many Chinese citizens, to get money out of China, have been buying bitcoin with renminbi and then selling bitcoin on another exchange for U.S. dollars or euro. “Chinese capital controls are a big part of what creates demand for Bitcoin,” says Gil Luria, director of research at Wedbush Securities.

As devaluation of the yuan drives investors there to seek out other currencies, that creates demand for bitcoin, which could have driven the surge in price in recent weeks.
“People have been expecting a continuation of yuan weakness, so what you’ll see with the bitcoin markets is a lot of times, bitcoin will experience a price increase prior to a significant yuan devaluation,” says Burniske. “So a lot of people may have been forecasting a significant yuan devaluation and what they got was actually the opposite. It’s really shaking off a lot of people who have been trying to short the yuan.”
Luria says that the other main activity around bitcoin in China, “pure speculation — people in China buying bitcoin because they believe it will appreciate, causing it to appreciate same with oil, real estate, stocks,” could also have pushed down the price.
“People that bought bitcoin at $500 a year ago, $600 six months ago, $800 two weeks ago are locking in their profits from that trade,” says Luria.
Noting that the previous all-time high of around $1,150 back in 2013 is a psychological barrier, he says traders may have decided that price was the right time for them to lock in profits.
This time around, however, bitcoin’s fundamentals are quite different.
“The usage is many multiples higher than it was in 2013. There’s a lot more development activity, a lot more application, a lot more usage. The network is much healthier and more robust,” says Luria. Trading volume in late 2013 was less than 10 million bitcoin a month and has recently been about 170 million bitcoin a month, according to Bitcoinity.org.
That also means that even this price fluctuation is less dramatic than it was in 2013.
“When you look at 2013, the bitcoin price actually doubled within the period of a month. We haven’t had that happen with this recent ascent,” says Burniske. “We’re starting to see signs of increased volatility in these last couple days but it’s still nothing near what we saw around the November 2013 price spike.”
Bitcoin’s notorious volatility has lessened and is now comparable to that of a small cap stock.

Source:
http://www.forbes.com/sites/laurashin/2017/01/05/the-2-factors-that-drove-bitcoins-20-overnight-price-plunge/#54da48be563c

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #436 on: January 16, 2017, 04:49:26 AM »
On the surface it appears that there is a lot going in our industry. There are many new players; some well financed with great teams – others a “me too” at best. The vast majority are claiming to be involved in some form of digital assets, blockchain, or other innovative concepts. Frankly, I cannot keep up, even when I tried. But having been around for almost three years we have seen many that headed straight for the moon and came crushing down. It has been more like a game of “musical chair” than a long term investment. Often, many are left standing – “holding the bags”.

DNotes is committed to building a trusted name for the long term. We never stopped investing and adding to our infrastructure for the future, or cease to evaluate the best solutions and implementations on many issues confronting our efforts to upgrade DNotes blockchain. As I have mentioned before – the true value of DNotes is in the future. Personally, it makes no sense for DNotes to be worth less today than a year ago; but that is the reality of how free market works. Nonetheless, our focus is to keep building all the essential blocks and deploy them at the most appropriate time. We are making great progress. As a side note, I am meeting with TeeGee in person for a few days at the end of the month. I am always looking forward to meeting our supporters.
« Last Edit: January 16, 2017, 04:52:34 AM by Shepherd »

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #437 on: January 29, 2017, 04:23:21 AM »
Wishing our family and friends around the world a Happy, Healthy, and Prosperous Chinese New Year!

BrandonC

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Re: Taking Crypto Currency to the Next Level.
« Reply #438 on: January 29, 2017, 08:07:11 AM »
Wishing our family and friends around the world a Happy, Healthy, and Prosperous Chinese New Year!

Happy Chinese New Year and best of luck to all in 2017; year of the rooster!

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #439 on: January 29, 2017, 02:09:07 PM »
Wishing our family and friends around the world a Happy, Healthy, and Prosperous Chinese New Year!

Happy Chinese New Year and best of luck to all in 2017; year of the rooster!

Thanks, Brandon. I will be traveling to meet with TeeGee next week. This will be a very exciting year for DNotes with many upgrades to DNotes core technologies. As I have mentioned many times, DNotes is positioned to be the trusted digital currency for everyone globally to participate. Everything that we have done reflects that. These include CryptoMoms, our family of CRISP, DNotesVault, DCEBrief, and the DNotes story in my book. There have been very intense R & D efforts to finalize design choices for sometime. We believe in waiting for various technologies to mature and settle. It has always been our discipline to execute at the most opportune time. Everything is lining up well for us to make the next major move. Always remember, we are building DNotes block by block and they are all strategically linked.

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #440 on: February 26, 2017, 08:50:51 PM »
Eliminating cash anytime soon? I don’t think so. There are a lot of hurdles to overcome before mass adoption can happen.
However, I do agree that blockchain will one day become the preferred accounting ledger practically doing away the need for traditional audits.

There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
Interesting prospective and worth reading.

Financial Markets Expert: Blockchain will Eliminate Cash.
Lester Coleman, 2-26-2017

"Dr. Philippa (“Pippa”) Malmgren, the founder of DPRM Group, a London-based company that helps companies, investors and policymakers better understand how risk and prices move across the economic landscape, said blockchain signals the end of cash during the recent Cayman Alternative Investment Summit.

Yahoo Finance’s Jared Blikre conducted a video interview with Malmgren during the summit, the theme of which was “Defying Gravity: The Future of Alternative Investments in Exceptional Times.”

Malmgren served as Special Assistant to the President of the United States for Economic Policy on the National Economic Council and is a former member of the U.S. President’s Working Group on Financial Markets, according to Wikipedia.
Blockchain Is ‘The Future’

“Blockchain is the future,” she said. “It means every time you do an electronic transaction of any kind – you buy something on the Internet, you go into a shop and use your credit card – it’s automatically recorded in the cloud.”
“There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
“It’s important,” Malmgren continued. “There’s almost a new accounting system, and it’s a new system of measurement that tracks everything.”
“You get 100 percent transparency over what’s happening in the economy,” she said.
People think that if they start using bitcoin or electronic money they will have privacy, she said, but “In fact, blockchain means everything’s visible to government.”

How Will Cash Go Away?

Blikre pointed out that cash still exists, which remains out of the government’s purview. “It’s not going to last long,” Malmgren replied. “People are not paying attention to how quickly electronic money can be introduced. In India, in 53 days they (the government) converted a billion people (to digital currency).”
An exclusively digital monetary system would make moving money around from people to business and business to business much easier, faster and cheaper, according to a report last year by Bloomberg’s editorial board. Increased efficiency and cost savings would benefit the poor, especially as their barrier to do certain high-fee tasks at banks would be lowered.

One of the largest challenges is convincing people that cash isn’t worth holding, the Bloomberg report noted. Political resistance against such a movement away from cash as currency to a digital fiat would be certain. However, educating the masses on the benefits of implementing a digital currency would be the main point of friction that governments could avoid in such a scenario.

Malmgren is optimistic about financial markets in general. She thinks markets are responding well to a government promising less regulation. She believes stock markets are poised to reach greater heights.

Janet Yellen, chair of the Federal Reserve System Board of Governors, is looking to support rising inflation in the next few years, Malmgren noted
."

Source: https://www.cryptocoinsnews.com/financial-markets-expert-blockchain-will-eliminate-cash/

BrandonC

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Re: Taking Crypto Currency to the Next Level.
« Reply #441 on: February 27, 2017, 12:34:55 AM »
Eliminating cash anytime soon? I don’t think so. There are a lot of hurdles to overcome before mass adoption can happen.
However, I do agree that blockchain will one day become the preferred accounting ledger practically doing away the need for traditional audits.

There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
Interesting prospective and worth reading.

Financial Markets Expert: Blockchain will Eliminate Cash.
Lester Coleman, 2-26-2017

"Dr. Philippa (“Pippa”) Malmgren, the founder of DPRM Group, a London-based company that helps companies, investors and policymakers better understand how risk and prices move across the economic landscape, said blockchain signals the end of cash during the recent Cayman Alternative Investment Summit.

Yahoo Finance’s Jared Blikre conducted a video interview with Malmgren during the summit, the theme of which was “Defying Gravity: The Future of Alternative Investments in Exceptional Times.”

Malmgren served as Special Assistant to the President of the United States for Economic Policy on the National Economic Council and is a former member of the U.S. President’s Working Group on Financial Markets, according to Wikipedia.
Blockchain Is ‘The Future’

“Blockchain is the future,” she said. “It means every time you do an electronic transaction of any kind – you buy something on the Internet, you go into a shop and use your credit card – it’s automatically recorded in the cloud.”
“There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
“It’s important,” Malmgren continued. “There’s almost a new accounting system, and it’s a new system of measurement that tracks everything.”
“You get 100 percent transparency over what’s happening in the economy,” she said.
People think that if they start using bitcoin or electronic money they will have privacy, she said, but “In fact, blockchain means everything’s visible to government.”

How Will Cash Go Away?

Blikre pointed out that cash still exists, which remains out of the government’s purview. “It’s not going to last long,” Malmgren replied. “People are not paying attention to how quickly electronic money can be introduced. In India, in 53 days they (the government) converted a billion people (to digital currency).”
An exclusively digital monetary system would make moving money around from people to business and business to business much easier, faster and cheaper, according to a report last year by Bloomberg’s editorial board. Increased efficiency and cost savings would benefit the poor, especially as their barrier to do certain high-fee tasks at banks would be lowered.

One of the largest challenges is convincing people that cash isn’t worth holding, the Bloomberg report noted. Political resistance against such a movement away from cash as currency to a digital fiat would be certain. However, educating the masses on the benefits of implementing a digital currency would be the main point of friction that governments could avoid in such a scenario.

Malmgren is optimistic about financial markets in general. She thinks markets are responding well to a government promising less regulation. She believes stock markets are poised to reach greater heights.

Janet Yellen, chair of the Federal Reserve System Board of Governors, is looking to support rising inflation in the next few years, Malmgren noted
."

Source: https://www.cryptocoinsnews.com/financial-markets-expert-blockchain-will-eliminate-cash/

Although governments can use digital payments in an attempt to root out criminal elements by collectively eroding privacy, it does not tackle the underlying problems, primarily fiscal policy which is unsustainable. I can see them wanting to implement it as a band aid on top of our failing system, to give people a false sense of security for another 10 years, rather than using this once in a lifetime opportunity to replace a broken system.

My question to government officials would be, are government issued digital currencies going to provide the same level of financial transparency to their citizens, as the government will have on those citizens?

Permitting we are talking about digital fiat, what could a move toward a cashless society mean for increasing the ease of unlawful seizures by corrupt government?

There's a good reason some people would rather save their cash under a mattress than in the bank, and it's a very large part of the reason I'm in cryptocurrency. It's about being in control of your own money.

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #442 on: February 27, 2017, 02:24:03 PM »
Eliminating cash anytime soon? I don’t think so. There are a lot of hurdles to overcome before mass adoption can happen.
However, I do agree that blockchain will one day become the preferred accounting ledger practically doing away the need for traditional audits.

There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
Interesting prospective and worth reading.

Financial Markets Expert: Blockchain will Eliminate Cash.
Lester Coleman, 2-26-2017

"Dr. Philippa (“Pippa”) Malmgren, the founder of DPRM Group, a London-based company that helps companies, investors and policymakers better understand how risk and prices move across the economic landscape, said blockchain signals the end of cash during the recent Cayman Alternative Investment Summit.

Yahoo Finance’s Jared Blikre conducted a video interview with Malmgren during the summit, the theme of which was “Defying Gravity: The Future of Alternative Investments in Exceptional Times.”

Malmgren served as Special Assistant to the President of the United States for Economic Policy on the National Economic Council and is a former member of the U.S. President’s Working Group on Financial Markets, according to Wikipedia.
Blockchain Is ‘The Future’

“Blockchain is the future,” she said. “It means every time you do an electronic transaction of any kind – you buy something on the Internet, you go into a shop and use your credit card – it’s automatically recorded in the cloud.”
“There’s no longer a need for it to go into some ledger written down and then your accountant looks at it,” she said. “It’s all automatic, and it says exactly where you were when the transaction occurred.”
“It’s important,” Malmgren continued. “There’s almost a new accounting system, and it’s a new system of measurement that tracks everything.”
“You get 100 percent transparency over what’s happening in the economy,” she said.
People think that if they start using bitcoin or electronic money they will have privacy, she said, but “In fact, blockchain means everything’s visible to government.”

How Will Cash Go Away?

Blikre pointed out that cash still exists, which remains out of the government’s purview. “It’s not going to last long,” Malmgren replied. “People are not paying attention to how quickly electronic money can be introduced. In India, in 53 days they (the government) converted a billion people (to digital currency).”
An exclusively digital monetary system would make moving money around from people to business and business to business much easier, faster and cheaper, according to a report last year by Bloomberg’s editorial board. Increased efficiency and cost savings would benefit the poor, especially as their barrier to do certain high-fee tasks at banks would be lowered.

One of the largest challenges is convincing people that cash isn’t worth holding, the Bloomberg report noted. Political resistance against such a movement away from cash as currency to a digital fiat would be certain. However, educating the masses on the benefits of implementing a digital currency would be the main point of friction that governments could avoid in such a scenario.

Malmgren is optimistic about financial markets in general. She thinks markets are responding well to a government promising less regulation. She believes stock markets are poised to reach greater heights.

Janet Yellen, chair of the Federal Reserve System Board of Governors, is looking to support rising inflation in the next few years, Malmgren noted
."

Source: https://www.cryptocoinsnews.com/financial-markets-expert-blockchain-will-eliminate-cash/

Although governments can use digital payments in an attempt to root out criminal elements by collectively eroding privacy, it does not tackle the underlying problems, primarily fiscal policy which is unsustainable. I can see them wanting to implement it as a band aid on top of our failing system, to give people a false sense of security for another 10 years, rather than using this once in a lifetime opportunity to replace a broken system.

My question to government officials would be, are government issued digital currencies going to provide the same level of financial transparency to their citizens, as the government will have on those citizens?

Permitting we are talking about digital fiat, what could a move toward a cashless society mean for increasing the ease of unlawful seizures by corrupt government?

There's a good reason some people would rather save their cash under a mattress than in the bank, and it's a very large part of the reason I'm in cryptocurrency. It's about being in control of your own money.

It is most efficient for the government to use digital currency supplement fiat currency. Some may try, but I don't believe that digital currency could replace fiat currency in the foreseeable future.

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #443 on: March 07, 2017, 04:25:41 AM »
I agree that “digital currencies issued by a central bank would become global targets for cyberattacks, cyber counterfeiting and cybertheft.” It’s a bad idea for a bank, a central bank, or a sovereign government to issue their own digital currency. They can do what they want but their risk exposure is significantly higher than issuing fiat currency or paper money in the foreseeable future. Should there be a trusted stable digital currency in the future, it makes more sense for the government to support a single digital currency with a proportion reserve to help provide further stability.

Federal Reserve Warns on Digital Currency

New warnings over central banks involvement with digital and cryptocurrency were recently issued by a governor of the U.S. Federal Reserve Jerome H. Powell. In a prepared statement, Powell told conference attendees at Yale Law School that digital currencies issued by a central bank would become global targets for cyberattacks, cyber counterfeiting and cybertheft.

“Central banks could face difficult trade-offs between strengthening security and enabling illegal activity,” Powell said. “Advanced cryptography could reduce vulnerability to cyberattacks but make it easier to hide illegal activity. To the extent we relax strong cryptography to make it easier for authorities to monitor illegal activity, we could simultaneously weaken security.”

While Powell’s speech does not dismiss digital currency and distribute ledger technologies outright, the Federal Reserve governor warns that significant security and privacy issues still exist in both spaces and will need to be addressed moving forward.
“We live in a time of extraordinary technological change,” Powell said. “We should be open to the new ideas and innovations that will drive economic growth and improvements in our financial system. At the same time, the public rightfully expects that authorities will do whatever it takes to keep their money safe.”

Powell’s warning comes at a time when the value of digital currency bitcoin is at an all-time high, due to investor optimism on the potential SEC approval of a bitcoin-based exchange-traded fund. On Friday, the value of one bitcoin nearly broke $1,300, more than the price of gold per ounce.

Powell’s speech also comes at a time when numerous global financial institutions and technology companies are investigating the value of distributed ledger technologies, especially blockchain.

Late last month, a number of technological and financial organizations announced the formation of a nonprofit organization called the Enterprise Ethereum Alliance. Their goal is to create a new blockchain computing system based on the network of Ethereum, a decentralized platform for applications that backs the popular digital currency Ether.


Source: http://www.pymnts.com/news/bitcoin-tracker/2017/federal-reserve-warns-on-digital-currency/

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #444 on: March 13, 2017, 08:41:46 PM »
The following quotes caught my attention. Sadly, it is a fairly accurate reflection of the state of our industry. Don’t worry though. We are in the infancy of a massive emerging industry. Somehow we will all grow up one day. And we will adjust and adapt.

All Digital Currencies Are Up

 “Welcome to the digital currency space, where you have the innovators next to the opportunists, the visionaries next to the idiots, some scammers here and there of course, next to the builders of tomorrow. A leveler of all. Bankers next to techies, artists next to scientists.

Our space is booming. Even beyond, the economy is up, stocks are up, unemployment down. The good times have arrived. The roaring 20s starting earlier this century. The headache will hurt, but, for now, the party is on
.”

Source: https://www.cryptocoinsnews.com/all-digital-currencies-are-up/
Andrew Quentson   on 13/03/2017

Shepherd

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Re: Taking Crypto Currency to the Next Level.
« Reply #445 on: March 24, 2017, 02:29:21 PM »
“According to CNN Money, Wells Fargo credit card applications plunged by 55 percent in February, marking the sharpest drop in applications since the September scandal in which Wells Fargo employees and officials were exploited for creating fake accounts. In addition, Wells Fargo stated that the bank account opening rate has reduced 43 percent since last year, alarming investors and stakeholders of Wells Fargo.”

That is very alarming. Millennials’ search for a better alternative is real and spreading rapidly. There is no quick fix but the race is on. We have been positioning DNotes for the last three years to be a major player with a stable trusted digital currency that everyone worldwide can participate. There are significant challenges, especially in creating a viable approach to bridge the centralized world with the decentralized space. At DNotes, we have been building a very different path as the “DNotes Story” continues: https://dcebrief.com/the-dnotes-story-an-unfolding-big-bold-idea-of-global-scale/

"Major Banks See Massive Decline in User Base, Can Bitcoin Capitalize?

Major banks such as Wells Fargo are struggling to deal with a rapid decline in their user and consumer base. One major factor behind the dwindling performance of banks is the disconnection with millennials. The vast majority of young adults and new generation users have lost trust in banks and are searching for new alternatives such as bitcoin.

In December, a group of researchers and analysts from Facebook released a study entitled “Millennials + money: The unfiltered journey” to evaluate the connection between banks and the growing population of millennials. In their study, Facebook researchers discovered that 92 percent of millennials have lost trust in bank services and plan on utilizing innovative and non-bank alternatives in the near future, which include bitcoin and fintech services.

The study read:
“To start, Millennials want to feel understood. And it matters because Millennials are 1.4X more likely than Gen Xers/Boomers to switch financial institutions. 45% of Millennials say they would switch banks, credit cards or brokerage accounts if a better option came along.”

A large part of the decreasing popularity of banks amongst millennials can be accredited to the exploitation of fraudulent services of leading financial institutions and the inability of banks to adapt to new and efficient technologies. Millennials are frustrated with the inefficient services offered by banks which are based on the same IT infrastructure and systems developed decades ago.
New infrastructure providers including Alibaba’s Ant Financial–a Chinese financial company that operates the US$60 billion fintech app Alipay–are meeting the demands and necessities of new generation users with innovative solutions to payments.

More to that, over the past few years, the world’s leading banks have been fined and penalized for offering fraudulent financial services. Just four months ago, Europe’s largest banks Deutsche Bank and Credit Suisse were fined by the US authorities for their illegitimate mortgage-backed instruments and other illicit activities. The fines of banks including Barclays and JPMorgan were valued at billions of dollars, with Deutsche Bank alone settling for a $7.2 billion penalty.

All of these factors ultimately contributed to the decline of banks and interrupted the trust-based relationship banks and consumers have maintained for a long period of time. The emergence of true competitors such as Alipay and Bitcoin are pressuring banks and financial service providers and most importantly, leading to the decline of their user base.

According to CNN Money, Wells Fargo credit card applications plunged by 55 percent in February, marking the sharpest drop in applications since the September scandal in which Wells Fargo employees and officials were exploited for creating fake accounts. In addition, Wells Fargo stated that the bank account opening rate has reduced 43 percent since last year, alarming investors and stakeholders of Wells Fargo.

As a temporary solution, Wells Fargo decided to shut down more than 400 branches by the end of 2018. This decision was made by the company’s officials to decrease expenses and operating costs in the mid-term to provide the bank with a recovery period.
Previously, banks and financial service providers manipulated and controlled the global financial ecosystem to the direction they perceived as fit and users had no other choice but to comply due to the lack of infrastructure and service providers outside the realm of banks.

The birth of bitcoin and the introduction of the fintech industry is creating a whole new market for both new users (millennials) and existing users that hope to utilize more efficient, secure and transparent services based on emerging technologies that are improving at an exponential rate."

Source: https://www.cryptocoinsnews.com/major-banks-see-massive-decline-user-base-can-bitcoin-capitalize/
Joseph Young   on 23/03/2017


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