Bank of America Sees the Crypto Threat – Populous or Debitum, Why Not Both?

what's up blockchain this is nick from truth blitz hope you guys are having a good morning actually it's not morning anymore is it afternoon let's take a look at the market briefly as you can see we are pretty much all the way back in the red with a couple exceptions and right now the overall market cap is 433 billion and Bitcoin at the moment is back under ten it's nine thousand eight hundred and seventy six it does appear like I said yesterday that I was a pump fake let's take a look at Bitcoin real quick so we had gotten down a little while ago to nine thousand seven hundred and seventy eight no it looks like we have a little bit of a rise so right now like I said we're back up over nine thousand eight hundred and almost nine thousand nine hundred but I honestly don't I think we're gonna end up going lower I'm gonna have to take a look at my chart on my other computer but I don't know if we are going to be able to break above where we need to and stay there to continue to rise so every day that goes by you know as you can see we are February 24th so we may not make that target number of 13 888 but the web BOTS cannot be right all the time okay so if that was the case and it was right all the time you better believe that cliff would be a multi-billionaire for developing that but the amount of times that it is right even being wrong sometimes it's staggering so anyway I want to talk about briefly this article and then I'm gonna get into something else but I saw this Bank of America our inability to adapt could see a failure to compete with crypto really so this is pretty much a very big Bank admitting that they're scared of crypto so Bank of America has admitted to US regulators it may be unable to compete with the growing use of cryptocurrency in its annual report to the Securities and Exchange Commission this week filed February 22nd the US the major US bank for the first time highlights cryptocurrency is an area that may cause it substantial expenditure as it tries to remain competitive our inability to adapt our products and services to evolving industry standards and consumer preferences could harm our business Bank of America states in the filing as banks worldwide I the cryptocurrency phenomenon direct interaction remains low the lack of uptake formed a central reason why the European Central Bank confirmed it had opted for a hands-off approach to legislating the area earlier this month while Bank of America I sought to innovate in the sphere receiving a patent for its proposed cryptocurrency exchange system in December 2017 it has come in for criticism more recently after blocking its clients from credit card purchases of cryptocurrency as a report to the SEC continues the institution's keen awareness of the threat posed to its core business offering by competitors becomes clear the competitive landscape may be impacted by the growth of non depository institutions that offer products that were traditionally banking products as well as new innovative products Bank of America forecasts the report continues this can reduce our net interest margin and revenues from our feed based products and services in addition the widespread adoption of new technologies including Internet services cryptocurrencies and payment systems could require substantial expenditures to modify or adapt our existing products and services the bank also pointed to staff retention failures in increasing competition in the financial services industry as being detrimental to his prospect to its prospects so what this article tells me is that the big banks are kind of running scared I haven't seen any bank to date basically come out and admit that cryptocurrencies are essentially a threat to their existence they've in the past and not even that far in the past like a very short time ago or basically acting as if this is such a small fringe market that you know it's basically nothing they need to worry about and you know this just really confirms that this isn't the feeling anymore I don't know what's going to happen with this you know our banks going to get on board or and try to coexist with the crypto market or are they going to basically lobby to the regulatory bodies to try to fight this revolution with an even more heavy-handed approach I guess that's yet to be seen but as I've stated many times this can't be stopped um I don't see even if they attempted to try to stop this we're gonna find ways around it and that's just the way it is this is the future all right we're too far in for them to stop this outright they can regulate they can do things of that nature but for them to be able to stop this it's just not feasible it's not going to happen and it's funny I didn't know that Bank of America had gotten a patent for a proposed cryptocurrency exchange system as it says down here I had no idea about that so it's just very funny that on one hand they do that and then a month later they stop all credit card purchases of cryptocurrency and that was a red flag in itself was when these banks basically stopped people from purchasing Kryptos with their credit cards if it was from that bank I think we have what four banks that did that now and and as I've reported before in India we have chase which even stopped debit card purchases so people's own money alright not money that you're borrowing but your own money but as I said you put your money in a bank it's no longer your money anyway so so very interesting article and we're just going to have to wait and see what happens see what transpires so I wanted to talk about populous and the fact that it is continuing to drop down another ten point two five percent down to twenty one dollars and 43 cents currently I don't know what is going to happen I do not think that populist and that Steven Eagle Williams is a scammer or populist as was a scam regardless of what has been found out about him the fact of the matter is if he was out to scam people and screw people over he would have taken the money and ran okay he would have done that a while ago and he hasn't done that so people can say what they want people make mistakes okay just because somebody has made a mistake in their life doesn't mean that they're a bad person that everything they do has ill intentions behind it okay because I truly do believe that if he was trying to screw people over we wouldn't hear from him ever again he would just disappear he has the etherium right he's got more than enough money after the populist presale after the money that it raised he's already come out with an alpha come out on the beta and yeah I don't know but that being said what I have done and and I'm not telling you guys what to do this is not financial advice I'm gonna make that very clear but what I have done and I thought would be a good idea to do is invest in debenhams debit um is the same kind of thing I'm sure most of you have probably heard of them if you haven't there is just over one day left in the crowd sale okay um debit um has partnered with paipai they really seem like they have their their stuff together it seems like they're going to be successful if I had to if I had to take guess okay I've read the white paper they've already announced some great partnerships I've gotten my father and debit him I've gotten my brother into debit him I'm in debit him I'm actually going to go and buy some more debit him after this video and why am i doing that because and as I said I still have faith in populace right but the fact of the matter is what if what if populace isn't successful the only other one that I know like populous is hive and I didn't like that one at all I think it was a direct ripoff of populist if I remember correctly they're white paper was very very similar to populist so and I haven't heard much about hive recently anyway so I don't know what's going on with them so they're irrelevant to me but what if populist isn't successful I wanted to get into debenhams a hedge to hedge my bets basically so and it doesn't have to be one or the other they can both be successful in crypto blood talked about this last night on his livestream there is room in the market this is a huge market a multitrillion-dollar market the invoice finance market so there are many many companies that do that and maybe not all on the blockchain but there doesn't have to be Devin amor populist right so why not be in both and if populist isn't successful debin amiss okay so I have debenhams or maybe they're both successful I have both you know it makes sense I missed the populist presale I looked at it for weeks at the time I had just put all the rest of my theorem into something else I looked at it it was open for a couple weeks and when I finally consolidated some of my assets to get some more etherium because it was a minimum of five etherium I believe at the time when I consolidated some of my stuff to get some eath back and went to go participate cliff highs report had just come out the pre-sale ended boom done so I didn't want to miss my shot again so I got into debit him and I'm going to get more like I said they partner with paipai I own pay pi as well okay so I think it's a smart move I really really do and I feel that they're going to be successful so I am getting in if you haven't done it you might want to look it over quickly and consider it you don't have a lot of time left if you decide you're gonna get into it I would appreciate if you guys use my affiliate link and I will post that right in the description you know if you do that you support me I get a couple extra tokens and yeah I just think it's a it's a smart play to head your bets don't put all your eggs in one basket right you hear that all the time so that being said and that's what I did you guys might want to consider doing the same thing if you believe the way I believe if you think the way I think anyway guys that is pretty much it make sure you guys like and subscribe make sure you guys also subscribe to the block party podcast official channel link right here and I'll see you guys next time

24 thoughts on “Bank of America Sees the Crypto Threat – Populous or Debitum, Why Not Both?”

  1. Can you take a look at LSD Token (ICO)? They have cooperation with Civic and MedicalChain, German team, non speculative use case and a really low hard cap!! so big 50xxxxx potential

  2. Debitum token is a utility token I believe that is just used as a token to facilitate transactions within the Debitum platform, and no residual income.

    PayPie is the next best thing after PPT as it will have a similar business model.

  3. i really like Debitum, i bought 3 and a half eth into Debitum, and the thing i like about Debitum, is that there already a business .there called Debifo and inntec. Debifo was recognized as a Financial Service of the year. in 2016 so they know what there doing. Debitum is one one of the best projects i have found. and i feel like its a sleeper should of been sold out weeks ago.

  4. "Bank of America Corp. may not be willing to help customers invest in Bitcoin, but that doesn’t mean it isn’t plowing into the technology underlying the cryptocurrency.

    The Charlotte, North Carolina-based lender has applied for or received at least 43 patents for blockchain, the ledger technology used for verifying and recording transactions that’s at the heart of virtual currencies. It is the largest number among major banks and technology companies, according to a study by EnvisionIP, a New York-based law firm that specializes in analyses of intellectual property."

  5. I was thinkin about getting into debitum too. They don't have the passive income generating side to them though do they?

  6. All banks have to do is add crypto for the people if they want to stay in business. then people can have access to fiat if they choose to protect from a crypto downfall. Also banks might not let people withdraw that money 😂

  7. Exactly! You the man Nick. Thinking about selling all my Verge and Iota at a loss for more. I bought them at double what they are worth but they don't have as much room to grow as others I want to get into.

  8. Could governments be purposely leaving cryptos in limbo so that banks can't use them, and therefore remove banking influence over them? Too optimistic?

  9. Perfect time to re-negotiate our BofA cards and loans interest fees. Realizing our power finally. I fully agree regarding PPT; one of my favorite holdings. However, I am not able to turn down the fact I get approximately 250 DEB tokens for each of my PPT.

  10. Oh, btw; Clif High’s number is $13,880. Not $13,888. That always bothered me. Thought I’d clear the air. Lol

  11. I can’t wait for your and CryptoBlood interview with Steve Nico, next week. And yes, got me some Debitum and EthLend. My first love is still with PPT! But diversified. Oh, I don’t like Hive at all.
    BTW, mahalo for a great show. Aloha!

  12. I'm hodl ppp ppt and will use your link getting in Debt. I don't know what the fuss about comparing how big their's sticks are, it's HUGE space enough room to coexist and disrupt corrupt banking system

  13. It's time to close my Bank of America credit card. They want us to remain their debt slaves. It's time for positive change for us.

  14. Ya he has a past so what! alot of us do, he ain't going no where, ppt is a great product and I think they will come through the only thing is that populous are a little off on there roadmap but his past is no issue with me, but I am a little heavier in debitum because of there partnership with paypie and they got so much room to grow, it's always great to hedge your bets in all niches!

  15. Thanks Nick! There is nothing wrong with both at all there is a big need for these types of businesses so as long as they are producing why not. I got some debitum even though they say they don't allow US citizens, they are not very strict about it I got some no problem, and they even let you go back in if ya want more!

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