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The real revolution in financial services is FinTech and it has nothing to do with Blockchain or Crypto.

Produse de tranzacționare

But the driving force is not overhyped blockchain applications such as Bitcoin. It is a revolution built on artificial intelligence, big data, and the Internet of Things.

I am an expert of the global economy, international financial markets, asset and credit bubbles and their bust, and the related financial crises. I was one of the bitcoin bank bank of india economists warning about and predicting in advance the Global Financial Crisis of and I am one of the leading global scholars on the topic of bubbles and financial crises.

I have written dozens of papers and other contributions on the topic of bubbles and their bust and the causes and consequences of financial crises.

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Crypto Bubble and Crypto Apocalypse and Bust It is clear by now that Bitcoin and other cryptocurrencies represent the mother of all bubbles, which explains why literally every human being I met between Thanksgiving and Christmas of asked me first if they should buy them. Especially folks with zero financial literacy — individuals who could not tell bitcoin bank bank of india difference between stocks and bonds — went into a literal manic frenzy of Bitcoin and Crypto buying.

bitcoin bank bank of india

A chart of Bitcoin prices compared to other famous historical bubbles and scams — like Tulip-mania, the Mississippi Bubble, the South Sea Bubble — shows that the price increase of Bitcoin and other crypto junkcoins was 2X or 3X bigger than previous bubbles and the ensuing collapse and bust as fast and furious and deeper. But as discussed in detail below blockchain is the most over-hyped — and least useful — technology in human history: in practice it is nothing better than a glorified spreadsheet or database.

The entire crypto-currency land has now gone into a crypto-apocalypse as the mother and father of all bubbles has now gone bust.

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And that is generous. This is a true Crypt-Apocalypse.

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Crypto is not money, not scalable To be a currency, Bitcoin — or any crypto-currencies — should be a serviceable unit of account, means of payments, and a stable store of value. It is none of those things.

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No one prices anything in Bitcoin. Few retailers accept it.

bitcoin bank bank of india

And since its price has been so unstable or volatile almost no merchant will ever use it as a means of payment: the profit margin of any bitcoin bank bank of india can be wiped out in a matter of minutes — if he or she accepts Bitcoin or any other cryptocurrency—by the change in the dollar price of a crypto-currency. Proper means of payments need to have stable purchasing power; otherwise no one will ever use them.

Acest lucru a fost anunțat într-un mesaj pe pagina oficială de Tweeterastfel că nu vor mai accepta depozitele în monede virtuale. Paytm Payments Bank Ltd nu mai acceptă schimburi de criptomonede. Paytm Payments Bank nu a anunțat oficial încetarea suportului pentru schimbul de criptomonede pe platforma sa. De asemenea, nu a clarificat motivul poziției sale.

As is typical of a financial bubble, investors were buying cryptocurrencies not to use in transactions, but because they expected them to increase in value. Indeed, if someone actually wanted to use Bitcoin, they would have a hard time doing so.

Băncile importante renunță la criptomonede: motivul din spatele deciziei

It is so energy-intensive and thus environmentally toxic to produce, and carries such high transaction costs, that even Bitcoin conferences do not accept it as a valid form of payment.

Not surprisingly, G20 member states are now working together to regulate cryptocurrencies and eliminate the anonymity they supposedly afford, by requiring that all income- or capital-gains-generating transactions be reported.

Even the US Treasury Secretary Steve Piața btcsweet has publicly stated that we cannot allow crypto-currencies to become the next Swiss bank account.

bitcoin bank bank of india

Since the invention of money thousands of years ago, there has never been a monetary system with hundreds of different currencies operating alongside one another. The entire point of money is that it allows parties to transact without having to barter. But for money to have value, and to generate economies of scale, only so many currencies can operate at the same time.

In the US, the reason we do not use euros or yen in addition to dollars is obvious: doing so would be pointless, and it would make the economy far less efficient.

Prin utilizarea blockchain-ului, instituțiile financiare au facilitat acreditivul care a transferat valorile mobiliare într-un mod complet digitalizat. Afaceri 3 ani în urmă Banca Centrală a Indiei cercetează modalități de a introduce o criptomonedă susținută de Rupie pentru a reduce costurile cu banii fizici.

The idea that hundreds of cryptocurrencies could viably operate together not only contradicts the very concept of money with a single numeraire that can be used for the price discovery of the relative price of thousands of mining bitcoin cz it is utterly idiotic as the use of multiple numeraires is like the stone age of barter before money was created.

Already, thousands of real bitcoin bloc de reducere la jumătate are using these technologies to disrupt every aspect of financial intermediation.

bitcoin bank bank of india

Dozens of onlinepayment services — PayPal, Venmo, Square and so forth — have hundreds of millions of daily users in the US. And financial institutions are making precise lending decisions in seconds rather than weeks, thanks to a wealth of online data on individuals and firms.

With time, such data-driven improvements in credit allocation could even eliminate cyclical creditdriven booms and busts.

bitcoin bank bank of india

Similarly, insurance underwriting, claims assessment and management, and fraud monitoring have all become faster and more precise. And actively managed portfolios are increasingly being replaced by passive robo-advisers, which can perform just as well or better than conflicted, high-fee financial advisers. Now, compare this real and ongoing fintech revolution that has nothing to do with blockchain or crypto-currencies with the record of blockchain, which has existed for almost a decade, and still has only one failing and imploding application: cryptocurrencies.

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