The founder and partner at Morgan Creek Digital, Anthony Pompliano distinguishes between the banking system and bitcoin that the operation timings for the current corporate banking system is limited in a day as it involves fiats that are actual paper currency and is to be dealt in person. The cryptos however, the likes of bitcoin, is here for the any time service as the cryptos are being backed by the stronger frameworks and more secure systems that enable the user to perform transactions and go about their business in the crypto market which are obviously open 24/7. This is a distinct difference that one can draw out of the two contenders for the future currency as this is a big up for the cryptos leaving the banks and the fiats down by one. BlockPublisher got to extract some remarks from Pomp himself over the matter further explaining the entire situation.
The Banks are off on Wednesday while the bitcoin is available throughout. This is a great feature that the current banking has failed to adopt. Long Bitcoin, Short the Bankers!
The statement is deemed appropriate by the fellow peers of Pomp including the likes of David Gokhshtein who have similar views and jumped up with the statement of “Short the Bankers”. There emerged critics who at the very moment suggested that Pomp barely understands the banking operation as it is clear to the masses that the banks continue to operate but the stock market shuts down.
There also are views from the people that the crypto businesses rely heavily over the banking system. Though this is nothing but the bare truth but the fact is that the cryptos have not yet been declared at the same status the fiats are, the reason for the crypto businesses still relying on the sloppy financial system as they have no where to go while dealing with their finance officially.
With the cryptos regulated all over the globe, we are set to have an automated system than what we have now that can lead to lessening jo opportunities for sure but catering for the services the better way. Every innovation has some pros and cons; what we are to figure out if that whether the pros weigh out the cons in every regard. Keeping score of the both is how the cryptos will be regulated which we have to admit looks bad for the cryptos with minimum favour officially.