I would like to talk a little bit about my brother, although I don't like to talk about my personal life here in public but I think this topic is kind of interesting.
My Brother
My brother has been working in a bank for almost a decade now, and he has been offered the position of assistant manager of the local branch. He didn't responded yet to the offer, but he told me that he will take the position, well the risks would kind of be elevated since he always preferred the desk job, but now he would have to take part in the organization of that branch so his risk would go up but also his paycheck, which is mostly what he awaited since he didn't got a raise for a long time.
Let me put it this way, many of you who don't know anything about banking, I will give you some insight. Well it's not like he is a NWO bankster, I think that characterization is kind of silly, so I named this article like this as a joke, don't take it seriously, of course he is not a bankster, he is my brother and his position in the bank is very much misinterpreted.
First of all it's a regional small commercial bank with a few branches, and he would technically be assistant manager of a branch, where like 20 people work + 4 security guards. I don't know the details, he is not allowed to talk about that so he didn't told me, but it's roughly like that, I have been here many times and I never saw more than 7 workers in the bank at a given time, so if they work in 2 shifts that is like 20 people + the security team. So he would be 2nd in charge of like 20 people, well that is nothing extraordinary.
Secondly his paycheck is awful. You might think that bank workers are swimming in cash, but if you would know how much people earn as a bank employee you would laugh. Let me put it this way, I might earn more from trading shitty altcoins than he earns from sitting 8 or sometimes 10 hours in a boring desk job at a bank. You might even earn more on Steemit than from working at a bank.
Well yes the CEO and the corporate management team might have thick paychecks, but local branch guys barely make any money, and they actually have a lot of risk at their hands. I mean there is a lot of risk in a local branch, not necessarily bank robbery related, that is very rare, but more like operational risks, like how to deal with customers and especially technical problems, from what I've heard every bank has not an IT team on standby 24/7 if there are some technical issues they come and fix it asap, otherwise it could cause further problems.
And the risk for an assistant manager is already elevated. Well his paycheck would be almost tripled, but his risk might be 10x or 20x greater. So I'd personally not take the job, but he has his own family, he has a small kid, so he told me he'd go for it, just for the money.
Cryptocurrency
You might be surprised but most who work at a bank have already heard of Cryptocurrencies, some of them have invested in it. My brother has BTC investments, he loves it, but he is quite a risk averse person, so he didn't got into altcoins. I had to nag him a lot just to put some money into BTC so I'm at least happy that he listened that much to me. Oh and he is in profit, he bought more than a year ago, so he already made good ROI even just with Bitcoin.
Most bank employees are not that open to Cryptocurrencies though, they are in this kind of "regulated mindset", that only government regulated things are legitimate and everything else is a scam. So even though they have heard of it, they basically talk about it during lunch time, it's like a gossip subject to anyone working in finance, but they mostly talk about it negatively or skeptically. Kind of like how @telos is telling me how wonderful regulations are, where I disagree, and he revealed that he works at a bank too.
But some of them are more open minded, especially younger bank employees, well my brother is an exception, he is older than me, but I nagged him a lot to teach him about cryptos.
So it looks like the new breed of finance workers will be quite open to Cryptocurrencies, and the rumors spread very quickly inside a bank. So I'd not be surprised if they would all have stashes Bitcoins under their pillows later on.
Well you can't really do anything inside a bank, maybe only influence your superiors about Cryptocurrencies and talk positively about them. But you can't use the bank's assets to invest in Cryptocurrencies, that is just not allowed, thanks to Government regulations.
And of course the Bitcoin ETF was shut down, although it looks like Bitcoin Options are getting Legalized in the US, so who knows what will happen later. But definitely we need to await daddy Government's approval for this before any capital movement can be released.
Well my brother works at a commercial bank so they can't invest in things like that anyway, but still investment banks could so that would be good. However who knows maybe they could issue Bitcoin Debit cards? I mean Bitcoin based commerce integration, let's face it, whether you like the banking system or not, it would still be better if they would start issuing Bitcoin based cards.
It can't be worse than that is is now, so Cryptocurrency integration into the banking system would only be beneficial for everyone. Your grandma will never learn how to operate an Electrum wallet in a Cold Storage, let's face the obvious truth. But she might get a Contactless Bitcoin Debit Card to spend her pension easily at any grocery store, so it can only be good news.
So if at some point governments legalize Bitcoin debit cards for banks, many Bitcoin and Cryptocurrency friendly people there will follow through with this so that can really help turn Cryptocurrencies into mass adoption.
Now the Central Banksters are the real issue here, since they are the ones that would lose control over the money supply if Cryptocurrencies gain mass adoption. But small regional commercial banks or even investment banks would have really no objections from what I have seen.
Sources:
https://pixabay.com
It's good he's got you and you even taught him to get some Bitcoin, maybe one day he'll full come around and be all in on crypto.
He is already invested in Bitcoin, but he is skeptical about altcoins though. Bitcoin looks safe to him after I explained how it works and he did his own research, but the altcoins due to lack of popularity and review, he think they are not that safe. So he sticks to Bitcoin for now. He has other investments too, and it looks like Bitcoin made more ROI to him so far than any other investment ,so that got his attention.
The evolution of cryptocurrencies is moving very fast. It is only a matter pf time before governments starts making regulations to legalise it. They will want to have a some control over it else they will be on the losing side.
Well they will regulate the custodians that is for sure, I am not sure how invasive they will get on the technical side. I am a bit worried about those encryption backdoors and crap like that that they are pushing.
That was a fun read... Most people around me are like your banker brother and his colleagues regarding how they feel about bitcoin..
And ya, local branch bank jobs tend to be tedious and often leave the staff stressed out and frustrated after long days, like retail, you're interacting with snobby customers/clients all day
Mind if i ask which country you're in?
Bitcoin will replace the entire banking industry.
Super-bitcoin (the thing after bitcoin) will replace the entire finacial services inudstry and insurance.
And bank officials in India were being held hostage to get the depositor's money back. Bad things may happen here when the bail-ins come.
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STOPHahahaha I have three relatives who retired from the banking sector and have nothing to show for it right now. seriously the banking Job is shitty if you are not a big time executive, Beware
Yes it is, that is why I didnt went into banking, in fact I quit the corporate world after the 2008 crisis, that was enough stress for me right there. I just did real estate after that until I got into crypto's around 2013-2014.
My brother wanted me to go and work with him, but I kind of smelled that working in a bank is not fun at all and the pay is crap too.
If he comes over to the cryptoside we got cookies!!