Ayanda Ngcatshe - Forex Consultant - Rand Merchant Bank ...

The Future of Bitcoin

It's another one those “let's have a rational discussion about Bitcoin” posts.
As something of a believer I am not interested in trashing Bitcoin, but it's clear that not everyone's vision of the future for Bitcoin is the same, so here is mine.
First the negative.
Bitcoin is terrible for in person transactions, and I suspect it always will be. What Bitcoin excels at is being “Internet Money”. No average Joe wants to wait 10 minutes for a confirmation whilst buying a cup of coffee. The main arguments against this are a mixture of “zero confirms is good enough” and “services on top of Bitcoin facilitating off chain transactions”.
Merchants do care about small value losses, the CCTV cameras in most small convenience stores prove this, whilst the Satoshi client does not let you double spend easily with zero confirms, in terms of the protocol it is trivial. If Bitcoin adoption grows and zero confirms start to become common we should assume we will see alternate clients designed to make double spending as easy as possible.
As for services facilitating off chain transactions, what is the difference from the consumers point of view between this and a Credit Card?, add in the fees for this off chain service and you are likely at the same cost as a CC payment. Bitcoin adds little value over cash or CC in the real world, fiat currencies for transacting locally are difficult to beat.
The enthusiasm for Bitcoin is impressive, but Bitcoin's future does not lie in Subway, bars, coffee shops, etc.
Bitcoin has also conclusively proved that not everybody is ready to be their own bank, here are some examples.
The last point about security is important, I consider myself to be fairly technical but find the task of securing Bitcoins daunting. The most difficult scenario is where someone has a lot of coins but needs to spend some of them frequently. The community could really do with a dedicated guide about security listing the options and trade off's, the Bitcoin wiki page currently is a bit too focussed on the Satoshi client.
Note that simply blaming the user isn't good enough, CC and cash offer a much better consumer experience (lost your credit card?, call your bank and get it cancelled and re-issued).
Now the positive.
I see lots of scenarios where Bitcoin is incredibly successful but the average Joe knows nearly nothing about it.
The last point is also important, one common theme I see in the Bitcoin community is that of banks hating Bitcoin. For investment banks in particular this is likely to false, they currently trade and speculate on a large number of commodities every day and would welcome a global instrument like Bitcoin.
Retail banks don't have much to fear either, as previously mentioned even Bitcoiners love to be able to reverse payments in some circumstances (BFL pre orders).
I suspect the reason the banks are not all over Bitcoin yet, is due to a combination of regulatory worries and inertia. Banks have become risk averse since the 2008 financial collapse and it would be disingenuous to suggest that Bitcoin is without risk.
One final point about inflation versus deflation, roughly speaking most western countries were on the gold standard for about a 100 years, and we have been off it for nearly as long. What is often ignored by newcomers to Bitcoin (but I have seen raised in the community) is that a monetary system is not independent of the world it exists in. The last hundred years have seen a huge increase in the planets population and this will inevitably bring with it resource scarcity. There may be a perfect one size fits all monetary policy, I doubt Bitcoin will be it, but Bitcoin may be exactly what the world needs to get the world through leaner times.
So to summarise, I find it hard to envision Bitcoin replacing fiat completely, if Bitcoin is really successful fiat could be commonly measured against Bitcoin.
submitted by btcthrowaway12 to Bitcoin [link] [comments]

Goldman Sachs: The Bank That Runs the World 2012 Full ... How I became the “Millionaire next door” - YouTube Captains of Industry - YouTube I'm 29 Years Old With Nearly $1,000,000 In Debt! - YouTube RMB Milk Index - Neville Mandimika - RMB Global Markets

RMB and FNB (First National Bank) are divisions of FristRand Bank Ltd. and are Authorised Financial Services and Credit Providers (NCRCP20) Botswana; Namibia; Nigeria; South Africa; UK; Ghana; Lesotho; Mozambique; Eswatini; Tanzania; Zambia; Angola; India; Kenya; Trade corridors. Asia - Africa; India-Africa; UK-Africa; Solutions Finance. Get in touch . Search term. Finance. Our highly-skilled ... Forex Consultant at Rand Merchant Bank Johannesburg Area, South Africa 58 connections. Join to Connect Rand Merchant Bank. Report this profile Experience Forex Consultant Rand Merchant Bank May 2008 - Present 12 years 6 months. View Ayanda’s full profile See who you know in common ... Corporate and Investment Banking Network. RMB and FNB (First National Bank) are divisions of FristRand Bank Ltd. and are Authorised Financial Services and Credit Providers (NCRCP20) Global Markets specialists provide a range of financial risk management and hedging solutions to protect you against a full suite of interest rate, currency, liquidity, commodity, and credit risks.. We apply our market expertise and transaction-based experience across the continent, creating bespoke investment solutions and risk mitigation mechanisms that enhance risk-adjusted portfolio returns. RMB and FNB (First National Bank) are divisions of FristRand Bank Ltd. and are Authorised Financial Services and Credit Providers (NCRCP20) Botswana; Namibia; Nigeria; South Africa; UK; Ghana; Lesotho; Mozambique; Eswatini; Tanzania; Zambia; Angola; India; Kenya; Trade corridors. Asia - Africa; India-Africa; UK-Africa ; Search term. We use cookies to provide you with the best possible online ... Manage, protect and grow your wealth with RMB Private Bank. Distinguished by our traditional values and innovative ideas we have adapted investment banking solutions to manage your wealth and legacy, available 24/7 through our online banking channel. If you have an offshore bank account, we can transfer your travel allowance directly offshore within 60 days of your travelling. You can purchase foreign exchange up to 60 days prior to departure. As an individual, over the age of 18, you are entitled to a travel allowance that forms part of the annual discretionary allowance and standard exchange control requirements are applicable. SEND ... Standard Bank’s range of forex services include: Currency management: Professional teams provide innovative and superior currency management insight, guidance and solutions. Services suite: A full range of the latest FX corporate, institutional and retail client services is available. Research and analysis: We monitor currency stops and orders, offer advice, economic research, historical ... Forex Consultant at Rand Merchant Bank. Access Kirti's Contact Information . Export. Share . Kirti Mishra Contact Information. Last Update. 8/24/2020 10:02 AM. Email. k***@rmb.co.za. Get Email Address. HQ Phone +27 11 282 8000. Company Rand Merchant Bank. Location. 3rd Fl 2 Merchant Pl Corner Fredman Dr & Rivonia Rd, Sandton, 2196, South Africa . Update Profile. Wrong Kirti Mishra? Kirti ... Rand Merchant Bank Forex Rates. The RMB Cash Intelligence Index tracks the daily performance of a portfolio of money market instruments in South African rand. RMB Global Markets trades commodities (metals, energy and agriculture) on a daily basis and is a leading provider of hedging, financing and trading solutions. CLICK HERE TO CHECK THE CURRENCY RATE. Search for: DISCLAIMER. We are a ...

[index] [26491] [13703] [18429] [12083] [27911] [14621] [11608] [3782] [14294] [13053]

Goldman Sachs: The Bank That Runs the World 2012 Full ...

Rand Merchant Bank 55 views. 2:57. RMB Structured Plus 100 - Duration: 2:55. Rand Merchant Bank 1,047 views. 2:55. Lesson 1 - What is Forex and how does It work? - Duration: 5:57. Alpari UK ... Get life-changing financial advice anytime, anywhere. Subscribe today: https://www.youtube.com/c/TheDaveRamseyShow?sub_confirmation=1 I'm 29 Years Old With N... Rand Merchant Bank 6,890 views. 3:40. Basics of Fundamental Analysis in Forex Trading - Duration: 10:21. UKspreadbetting Recommended for you. 10:21. Bitcoin Cash CEO Roger Ver Coinbase Price ... by Rand Merchant Bank. 0:46 . Billion Dollar Day - a 1986 documentary about currency (forex) speculative trading by FullyFundedTrader. 29:50 "Too Big to Fail" (2011) - Financial Crisis Explained ... "My ultimate goal is to limit the amount of surprises you face in the global environment", says Global Solutions Head, Chantal Robertson. Watch more here. In this video I explore how I followed some money rules to make it to my first million by accident. 1. Live beneath your means 2. Don’t succumb to pressure 3... Rand Merchant Bank CEO James Formby shares his success story by CNBCAfrica. 22:58. James Mworia shares his journey from an intern to CEO of Centum by CNBCAfrica. 25:28. Kenyan comedian Churchill ...