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This is a big deal for the crypto industry. If you've ever transacted between your bank and a Bitcoin exchange you may have seen the boutique banks they've been
by bravoetch 6y ago
This is a big deal for the crypto industry. If you've ever transacted between your bank and a Bitcoin exchange you may have seen the boutique banks they've been dealing with labelled on your transactions. It's been hard for these companies to get a big name-brand bank onboard. This really helps lubricate the money-go-round.
- qubex 6y agoSo much for ‘crypto’ becoming an payment system independent of the “fiat currency”-based fractional reserve financial system all the crypto-goldbugs rail against on a regular basis. This just shows that ‘crypto’ has failed at its stated aim of becoming a payment system and has instead devolved into being an asset class for speculation — a volatile one at that because it’s totally devoid of fundamentals.
- strgcmc 6y agoCertainly as a payments system, Bitcoin looks to be failing/has-failed/will-fail. But there is another possible future other than being a fake-internet-money "asset class for speculation... devoid of fundamentals": a long-term return to something akin to gold-backed aka bitcoin-backed fiat currency. Personally, I don't think deeper integration with traditional fiat currency/banking systems is a sign of failure; rather, it's the first step towards this possible future (which of course, is highly unlikely still, but 20 years ago it was 0% likely, 10 years ago it was 0.00000000001 likely, and now, who knows maybe 0.0001 likely?). Of course, this too, is all speculation. It's hard to predict the future.
- DeepYogurt 6y ago> This really helps lubricate the money-go-round. Doesn't it though.
- tomcooks 6y agoExactly, it only seems to lubricate things one way, as most tech against centralized banking.