Blockchains Replacing Banks?

01/04/2018
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Blockchains replacing banks?  It could happen according to a story at National Mortgage News.  This cryptocurrency thing is getting out of control!

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8 thoughts on “Blockchains Replacing Banks?”

  1. REORealtor1 says:

    Love the concept of bitcoin and not having funds tied to any one government that can intentionally manipulate currency. While the pricing is volatile now it will eventually calm down. In my sixth decade and I love the concept. The only issue is it’s not main stream enough but it will be. I’m not throwing oodles of funds in there but have bought some.

  2. Timothy George says:

    We are a long way from the banks using the block chain technology here in the US. Bitcoin is going to be obsolete, and Ripple will be the block chain of the future with banks all across the nations. It’s the only one that is centralized, and offers banks and consumers much more security than the current banking system. If we were a corporation, and wanted to send $100Mil to our account in China, that could take 5-7 business days and costs would be pretty high. Ripple has the technology to send the same transaction in 3 seconds! I’m buying Ripple, Tron, Cardano. These are a tremendous value compared to Bitcoin! The technology Bitcoin created is a brilliant idea, but it’s outdated. Even the new Fed Chairman said that the US would look at blockchain technology, but the market is much too small, and we need our own blockchain for this country. Rest assured, the dollar will be stronger than ever. It’s just a new way of replacing credit card technology, which is long overdue!

  3. Jeff A Vines says:

    I kinda see the concept but if someone can create a currency with nothing more than a computer or computers don’t it seem realistic that some really smart criminal mind could create some of these with sinister intentions??? After all some of the biggest frauds committed now days are from the Russia/China based hackers and one day there maybe a big surprise waiting for the masses. Stock Market shocker.

  4. William says:

    Hey Frank,

    Just curious why all the Harvard attire lately? Do you have a son or daughter attending?

  5. Ray Blindauer says:

    Unless the tax code was changed, a mortgage interest deduction is allowed on acquisition indebtedness only. Not that everyone doesn’t always include the full amount of their 1st mortgage, (up to the limit allowed), it’s contrary to what the IRS allows for a mortgage interest deduction.

    1. HCopher says:

      Mortgage interest deductions on equity loans up to $100,000 for a married couple (%40,000 individual) are not restricted to acquisition.

      “Mortgages you (or your spouse if married filing a joint return) took out after October 13, 1987, that are home equity debt but that are not home acquisition debt, but only if these mortgages totaled $100,000 or less ($50,000 or less if married filing separately) and totaled no more than the fair market value of your home.”

      1. HCopher says:

        Note: Typo %40,000 s/be $50,000

  6. Paul Forehand says:

    The more I learn about crypto currency the less I understand. I feel like I’ve waisted two hours of my day listening to the Phil Ferguson links above. All one sided leaning to his point of view. All of the financial advisors and brokers I know that I have broached the subject with have basically backed away from me while making a cross with their fingers. But none have said ‘don’t’. This stuff is way too technical for me. But I did find http://www.blockchain.wtf has tried to dump it down for folks like me.

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