Bankers’ Tantrums: The Theory of the ‘Busy Money’ versus the ‘Easy Money’

This article is about the ‘Busy Money’ or the fiat currencies and the ‘Easy Money’ or the cryptocurrencies. While the banks are responsible for making money too busy for general people to get a grip on it, the easy to handle and manage ‘Easy Money’ or the cryptocurrencies are therefore stealing the importance from the fiat-money managers. The most natural outcomes are some claims that want to blur the importance of cryptocurrencies which is in no way a practical approach for the bankers to resort to. To know why is why you need to read it.

We are not haters of either fiat or cryptocurrencies. So let us take an unbiased position when we talk about the current banking system, Bitcoin, and the earth-shattering claims that Bitcoin will indeed be a troublemaker. First things first, the current banking system is a mammoth concerning the value it deals with, and there is no doubt that a sudden crash of the system will create havoc in the economies around the world.

But, are the banks doing justice to its customers when it comes to offering fewer commissions and making people empowered? We think what the big fat fiat currency banks are doing is making it harder for people to reach their money goals by making the availability of fiat currency harder. On the other hand, cryptocurrencies, such as Bitcoin are making the life of people more comfortable by removing all hassles that make a transaction cumbersome.

If you are still not aware of what and how misleading the big banks are when they show you some claims about Bitcoin, this article is just for you.

The ‘Big Money’ Dealers say Bitcoin is a “Fraud.” But why?

The big bankers often term Bitcoin as a big fraud. For example, JP Morgan CEO Jamie Dimon mentioned in 2017 that Bitcoin is a bigger fraud than Tulip Mania, but he forgot to check that a big “fraud” cannot ever be decentralised. By that we mean, can a big fraudulent scheme be ever run by no one? If there is hardly anyone or any group that would be profitable if Bitcoin grows, how can it be a fraud?

As you may know, Bitcoin is not anyone’s property, it is an open-source currency that grows when the demand for the currency increases, and if it does, a lot of people owning bitcoin profit from it. It is also not a government-backed or controlled currency. So, there is no oversight of any biased government-authority on Bitcoin. If fraud looks like that, then fraud is probably better than the ‘Big Money’.

Bitcoin will cease to Exist, and Fiat Money will Remain Unchallenged

Every change in this world is quirky in some manner- while some are probably not expected, some happen over a longer period. Many bankers say that Bitcoin is a bubble and it will burst anytime, leaving the fiat currency unchallenged even when everyone knows that the ‘Easy Money’, Bitcoin is far better in terms of use and transaction than the tax-laced ‘Busy Money’.

In practice, the opposite is happening. The Express, UK report has something exciting to reveal- it found that the optimism of people on Bitcoin is making its value surge again, let alone the idea that it will become redundant soon. The same report notes that “there is little doubt hedge funds, proprietary trading desks, Banks, VC funds and Family offices are all looking into crypto.” So, when the banks claim that Bitcoin is a bubble, burst their ego rather than believing in it.

The Fiat Currency and Bitcoin are Incompatible. They’re Opposite

The banking industry has always been pitching the idea that Bitcoin is something too weird to become a tool for transactions in the mainstream financial world. Don’t we know how this idea that a digital currency that has real value can become so ‘untouchable’ for the ‘Busy Money’ holders? If Bitcoin is incompatible with the current banking system, the banking system is incompatible with the future.

That is what the Paris Innovation Review tells in brief. It notes that Bitcoin will create a great revolution if it is accepted and synced with fiat money. Well, we know some factors would need to be revamped to do so, including the way the banks charge their clients, but if compromising on the charges of fiat banks that are probably too high in case of cryptocurrencies could create a better world, why not to try to do it?

Forget the Vibe ‘Start Small, Make it Big’

The main reason for the big banks denying the reality of Bitcoin is that Bitcoin does not offer them the power or the profits that they currently make with the management of fiat currencies. It is natural, and people often find it hard to leave the ideas and the practices they are vehemently used to. But, changes do occur when the time for a change come. Well, that is what some small banks want, according to a Wall Street Journal report.

The report mentions the word ‘remarkable’ for the ‘Easy Money’ that is changing the dynamics of the financial world all the time. The small banks want to check the advantages although the profit share they can achieve from it is lesser than what some bigger, fatter and unholy fiat money-transactions can offer. Still, when it is about accepting the future, the ‘Easy Money’ is all high in returns when it comes to reaping the benefits.

Don’t Bet on the ‘Easy Money’

Bitcoin enthusiasts have probably never claimed till now that Bitcoin would one day replace Dollar, but as far as the signals go by, the bankers are well aware that is what is going to happen one day. That is why Switzerland-based Bank for International Settlements (BIS), urged people not to bet on the ‘Easy Money’ because it is full of risks and turbulence. That might seem to be a very compassionate appeal to all, but stay aware that banks are not making our lives any less risky than what we usually assume.

The real fact is no one is betting on Bitcoin. Betting occurs when there is a doubt on the outcome, but here in case of the ‘Easy Money’ the verdict is already foreseen — Bitcoin is becoming a big deal, and there is no need for anyone to bet on anything. It is so simple to see, use and believe that the ‘Easy Money’ will never let anyone down however rich or poor he/she is, no one is interested in checking what these ‘rich is the king’-preaching fat ‘Busy Money’ banks say.

We are just betting on a better future!

Disclaimer

The views and opinions expressed here are solely those of the writer, Alina Vardanian, and may not reflect the opinions of CINDX. Every investment and trading move involves risk; you should conduct your own research when making a decision.

About CINDX

CINDX is an investment platform that allows individuals to combine several crypto exchange accounts into one trading terminal, and gives them the option to connect to the best managers without having to transfer their funds. Moreover, implementation of blockchain-based transactions will allow the trading history to be saved, and a rating system will be used to differentiate the successful managers from the less successful ones.

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