I don't think this is the answer. Remember, banks are centralized organizations, meanwhile bitcoin is the complete opposite. Complications and problems will just arise if the banks would adapt bitcoin in an instant. Banks are regularized by the government and bitcoin isn't. Surely, arrangements would be chaotic especially regarding payment and transactions.
Up to this date, we can hardly find a government that accepts bitcoin without reservations. Most countries are still aloof with the idea. Some even banned and made bitcoin illegal in their place. There are specific rules and regulations set that are need to be followed by the users in countries where bitcoin is somewhat "legal". In addition, I don't think banks really do need bitcoin since this is just an alternative form of currency (though they don't treat it as such).
Topic: All world banks need bitcoin now big solution (Read 688 times)
They can do the transactions with btc or eth works too.
Don't forget about frauds, as these people can also use this as front to make money laundering....
Lol I don’t really think it’s going to work that way, the government themselves might not be investing in Bitcoin because it’s a very risky asset, except for private businesses, those are the ones that may decide to invest a percentage of their assets or money in Bitcoin and any other cryptocurrencies.Though I have once seen a news that a government in a particular country, I think Germany, was going to set a new law that allows banks to buy and sell cryptocurrency to their customers, maybe that one would be possible. As for banks creating stable coins, I don’t know about this, the ones I have seen failed woefully.
Also Bitcoins has the fact that not all countries across the world finds this as useful as the other was.
They just see this as illegal matter and shouldn't get involve with.
(Government > Bank >? Bitcoin = XXX ) -Quite a representation that I made LoL
They need bitcoin to use it reseve asset.
So if. China bank needs eur currency they dont need direct buying or exchanging china fiat to eur or find correspondent intermediary bank to do transactions.
They can do the transactions with btc or eth works too.
Btc can replace all wire and swift transfers between banks.
When jp morgan want to send funds to japan they just send btc their wallet.
And its a instant world transactions
Lol I don’t really think it’s going to work that way, the government themselves might not be investing in Bitcoin because it’s a very risky asset, except for private businesses, those are the ones that may decide to invest a percentage of their assets or money in Bitcoin and any other cryptocurrencies.So if. China bank needs eur currency they dont need direct buying or exchanging china fiat to eur or find correspondent intermediary bank to do transactions.
They can do the transactions with btc or eth works too.
Btc can replace all wire and swift transfers between banks.
When jp morgan want to send funds to japan they just send btc their wallet.
And its a instant world transactions
Though I have once seen a news that a government in a particular country, I think Germany, was going to set a new law that allows banks to buy and sell cryptocurrency to their customers, maybe that one would be possible. As for banks creating stable coins, I don’t know about this, the ones I have seen failed woefully.
What makes you think this is something they want to do? Banks and governments are trying to find ways to stop people from getting into this market and you think they will suddenly begin to use bitcoin to try to solve their problems? This is not going to happen, even if bitcoin were to drive them into the corner they are never going to recognize that bitcoin is better, since that will be the equivalent of recognizing that the last decades of fiat money have been a terrible mistake for the economy, and even if that is true if they were to acknowledge it it will be the same as admitting a level of incompetence so high that it is difficult to even understand.
I couldn't agree more, because if government think that Bitcoin will be solution. They show us that for several decades we use the wrong regulation. The inflation that is created by Fiat has made many people in the world become poor, and if it will happen so societies can't believe on government anymore even there will be crush. Bitcoin will never be solution for government because the government has big ego. How can u hope that the government need Bitcoin , even in the reality the government make the digital coin that can be competitor for Bitcoin it self.
Banking institution are under the regulation of the central bank and central bank is created by the government, so why would a government allow bitcoin to be a reserve, it's risky asset and banks are usually insured by the government so it does not really make sense.
I understand that other private institution are doing that, but banks, I doubt they win.
They would create their own centralized digital coins but would not trust or allow bitcoin to be their reserved.
I am more embarrassed by the fact that a person wrote that btc can be safely used for fast transfers, only according to official data, just the visa and the mastercard process about 60,000 transfers per minute, and the bitcoin network is only 10, the eth, in turn, is about 20, well, the fastest is half a PolcaDOT with 4000 transfers and xrp with 1000, so I think btc cannot be used for transfers within the banking system I understand that other private institution are doing that, but banks, I doubt they win.
They would create their own centralized digital coins but would not trust or allow bitcoin to be their reserved.
The idea itself is quite useful but impossible to happen. This kind of thought has already been brought up countless times in this forum but none has ever come to fruition. The reason why is that banks just want control together with the government. Yhat is why, never will they allow unregulated things to be legalized such as crypto currencies. One thing they might do would be to copy the technological advantage of crypto currency and apply it to their own. Shameless but what can we do? That's just how they are.
That will not happen.
In the past, they hate the main existence of Bitcoin because of how it pumps its value saying that it is a bubble that would pop, or a currency to be used illegally, until now. That is why I don't think they will be relying on bitcoin or any cryptocurrencies as their solution. They will find their ways for that solution and I don't think it will be these cryptocurrencies.
Of course it won't happen, if banks want to transfer, they don't need to have a real money to do a transfer, what they need is that they are a legitimate entity and a little tweaks in the computer on the numbers of how much amount that entity has is enough for a transfer, and they still hate bitcoin and there is no way that this banks will cooperate with their nemesis knowing that if they ever do so, they will fail miserably. I think they had already found their solution and it is not bitcoin or cryptocurrencies but they are trying to replicate the system which is by far they haven't been successful thankfully.In the past, they hate the main existence of Bitcoin because of how it pumps its value saying that it is a bubble that would pop, or a currency to be used illegally, until now. That is why I don't think they will be relying on bitcoin or any cryptocurrencies as their solution. They will find their ways for that solution and I don't think it will be these cryptocurrencies.
Not just that.
Obviously they will not use cryptocurrencies themselves but the technology behind them. With what we have right now, having and maintaining Blockchain technology is really hard and very very expensive based on the articles that I've read. I don't think they can afford that and they would just stick to what we have right now.
They need bitcoin to use it reseve asset.
So if. China bank needs eur currency they dont need direct buying or exchanging china fiat to eur or find correspondent intermediary bank to do transactions.
They can do the transactions with btc or eth works too.
Btc can replace all wire and swift transfers between banks.
When jp morgan want to send funds to japan they just send btc their wallet.
And its a instant world transactions
So if. China bank needs eur currency they dont need direct buying or exchanging china fiat to eur or find correspondent intermediary bank to do transactions.
They can do the transactions with btc or eth works too.
Btc can replace all wire and swift transfers between banks.
When jp morgan want to send funds to japan they just send btc their wallet.
And its a instant world transactions
Perhaps now that big players are getting in, Banks might want to have a change of mind and hop in with the game but initially, I doubt if they will want to risk and take suhc a decision to hold Bitcoin.
Bitcoin behaviour in the past isn't not so encouraging for such a financial bodies to reserve customers money into highly volatile assets. The way bitcoin react and dump to news wouldn't want any one to take such a bold step but may be this year would be different. Though, on a second thought, what if bear market kicks in, how do you think institutional investors will react to dump. If history is to repeat it self, it will be bad on correction
(in my opinion)
Sorry, you are wrong. I doubt bitcoin will replace "wire transfer" or any of the banking system. What is going to replace those system is the blockchain technology, not the coins itself. Let me tell you one thing, blockchain and bitcoin isn't the same thing. It's the blockchain technology that bitcoin is powered on.
If they have no other choice but to use crypto currencies, then they will end up making their own centralized currencies. I doubt they will ever use bitcoin (unless the government starts to heavily and strictly regualate it!).
If they have no other choice but to use crypto currencies, then they will end up making their own centralized currencies. I doubt they will ever use bitcoin (unless the government starts to heavily and strictly regualate it!).
Bitcoin dont need to convert in currency if everybody use it.
I'm sure that will happen in the future! We are on the verge of discovery!
There is nothing personal if banks find it useful for business they buy it .
Lets forget about this old bs that banks are against
If banks see its good to use they use it
Remember bankers Re here for money wgat good for money they take it
Bitcoin dont need to convert in currency if everybody use it.
I'm sure that will happen in the future! We are on the verge of discovery!
It may happen that some banks are secretly using Bitcoin to move money from one country to another, without a long process and inexpensive
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
It's unlikely that banks are secretly using bitcoins... They also have all currency transactions recorded, and the same question will arise - where did the money go? Or how did it come to be? Moreover, bitcoins need to be converted into currency... In general, not a good idea! costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
Bitcoin dont need to convert in currency if everybody use it.
It may happen that some banks are secretly using Bitcoin to move money from one country to another, without a long process and inexpensive
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
It's unlikely that banks are secretly using bitcoins... They also have all currency transactions recorded, and the same question will arise - where did the money go? Or how did it come to be? Moreover, bitcoins need to be converted into currency... In general, not a good idea! costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
It may happen that some banks are secretly using Bitcoin to move money from one country to another, without a long process and inexpensive
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
Thats the purpose of btc to provide liquuty to banks.
It may happen that some banks are secretly using Bitcoin to move money from one country to another, without a long process and inexpensive
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
costs. Because as we know sending money overseas through the bank, sometimes the process takes several days and the transaction fees are
quite large. So for this I agree with the opening post that all world banks need Bitcoin, even though they themselves don't admit it.
In moving towards cashless society, the organization of finance minister and the central bank governors said they are working with international monetary fund, the world bank and the bank for international settlement to formalize the use of central bank digital currencies in banking system. With this it show that there need for cryptocurrency in world bank and our everyday banking system
We dont want cash less !!
We like cash
In moving towards cashless society, the organization of finance minister and the central bank governors said they are working with international monetary fund, the world bank and the bank for international settlement to formalize the use of central bank digital currencies in banking system. With this it show that there need for cryptocurrency in world bank and our everyday banking system
This is a very big word that All world banks need bitcoin now as a big solution. I don't think so because the world banks are not in a position yet and Bitcoin can't reach a position yet that there are no other options for banks. But there are some reasons for banks are to invest in BTC for more profit. But banks are against cryptocurrencies to keep their position in the market.
Banks not against it They make money out of this
Btc transactions end up in banks
It not all Bitcoin transaction that end up in banks cause only crypto to fiat currency transaction that in the banks.
They are against only if they own guys or they get something
Life is business
If u dont stay alert wolf will come
This is a very big word that All world banks need bitcoin now as a big solution. I don't think so because the world banks are not in a position yet and Bitcoin can't reach a position yet that there are no other options for banks. But there are some reasons for banks are to invest in BTC for more profit. But banks are against cryptocurrencies to keep their position in the market.
Banks not against it They make money out of this
Btc transactions end up in banks
It not all Bitcoin transaction that end up in banks cause only crypto to fiat currency transaction that in the banks.
I think the banksters have owned a lot of bitcoins for a long time! Because bitcoin is now entering a phase of universal acceptance... And when it is widely used, banks will start to use it as well as other cryptocurrencies... It's only a matter of time...
Workd controlled you dont walk dont run dont breathe without your masters permission
U wear mask if tgey tell you ! So if they really dont like btc they can destroy btc with one day.
Bitcoin is here mercy of bankers .
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