Banks begin to see that the are losing GRIP on the financial sector more and more.
Many years they have been profiting from all the possible ways to send money or use your own money in their bank. Sooner or later this story is going to end, and it is about time for the Good of everybody. International Transfers of money have been used many years at a cost of almost 5 towards 10 % of the deposit. That’s easy money to just sent it from bank A to bank B. with many millions of transactions going on every day. You can understand they gain a lot of money this way. With Bitcoin this is FREE transaction costs, yes you heard it correctly. you sent free from 1 person to another
What is this BITCOIN?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
Why transaction costs are free.
- in the first place because you don’t need the inter-mediator called BANK.
- It is based on aa Open-source that means the code is available for everybody.
The battle to control how people pay for stuff is heating up and Goldman Sachs wants a piece of the action. In its first publicly announced bitcoin-related investment, Goldman said on April 30 that it co-led a $50 million financing round for Circle, a bitcoin startup led by serial tech entrepreneur Jeremy Allaire. The startup offers a new digital wallet meant for everyday consumers. China’s IDG Capital Partners was the other lead investor on the round, which brings Circle’s valuation to what Fortune estimated at $200 million.
So why Banks want to get into this?
“They want to get people to think of transferring value as something as easy and utilitarian as sending an email”. They have no idea yet how they are going to get revenue out of this, But they notice more and more people begin to distrust them, so they search new terrains to try to get a new part of the cake. But by offering the service for free, there’s little prospect for turning a profit anytime soon.
Circle transfers the money instantly.SO What can we do to take advantage of this?
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