All world banks need bitcoin now big solution - page 3.

coolcoinz

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Quote from: babykika2027 on February 06, 2021, 09:00:31 AM

Im not sure that banks really think so. Sure, they will use blockchain technologies but not a bitcoin itself

Again this blockchain not bitcoin FUD. I see that mainstream media did a good job brainwashing some of you by repeating that phrase over and over. In a way it's also the work of institutions themselves who heard about blockchain tech and not knowing what it is decided to go public with a decision about conducting blockchain research or appointing someone a blockchain specialist.
None of them know how to use blockchain without bitcoin. They only talk about it because it makes them look smart and allows them to explain additional expenses. The only coin they'll ever use is if they make their own centralized coin, like Libra and push it through all the commissions.

samcrypto

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Banks are buying secretly for sure but they can’t do this big time since they are regulated by the government and central bank, so they must comply with it even if they wanted to buy more bitcoin.

I’m sure banks already know the capability of Bitcoin and that’s why some of them already adopt blockchain technology and that’s a step closer for them to adopt cryptocurrency. Well, this market is not just about bitcoin now since there’s a lot of good project that can help banks on their day to day operations, and altcoins are good for that.

FlightyPouch

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Let's stop hoping that these banks would be using bitcoin as a "solution" because we all know it won't happen considering most of them don't trust bitcoin. Whats probable though is that these banks using the technology behind bitcoin to develop their system for faster transfer and making it secure.

palle11

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Quote from: Mauser on January 25, 2021, 08:45:12 AM

I agree with you, with the recent rally in bitcoins and shift of institutional investors switching into crypto currencies. There is no way around it for central banks. Sure they are going to try and create their own digital currencies, but it is all about the investors willing to put money in them.

Banks are even scared, they have seen a high level of competition approaching with high level withdrawal and conversion into cryptocurrency by institutional traders. This is a challenge for banks and so many countries are beginning to put legislation against cryptocurrency but this will not stop the wave and financial revolution coming up.

TirariAchref

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Lol !! You Think banks now will use bitcoin and invest in it Cheesy

Please don't make me laugh, first of all banks hate cryptocurrency investors they deposit large sums of money in the bank and then wire it out to a wallet or brokerage that will convert it to Bitcoin.

Theirs no control on them or where the money did go or making profit of that transaction.

so when we see banks from all the world use bitcon ... let me say NEVER !!!

AndySt

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Quote from: dimonstration on February 06, 2021, 04:50:51 PM

Quote from: CarnagexD on February 06, 2021, 04:35:22 PM

We'll be getting there soon, this pandemic may have been a punch in the gut for most of us but us cryptocurrency supporters and investors are sure to reap the hardships we mustered this season just to carry on with our support, especially knowing that more and more people, and bigger figures at that matter by thebway, are seeing bitcoin's potential and opted to include it in their portfolios

Other government still didn't see the help it can give since they are blinded in the idea that they can't control it and because of that they just waste the opportunity that it can give to their people. The best thing to do is to invest, trade on our own to gain profit than to wait for banks, there are already big companies who use it meaning, the potential is totally in it.

I fully understand the caution of government officials, because public funds are not a field for risky experiments. Therefore, at this stage, the most important thing is that government officials do not interfere with the desire of large companies and the banking sector to invest in bitcoin and cryptocurrencies, because for example, for banks, it is permits from the financial regulator that are the basis of work.

dimonstration

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Quote from: CarnagexD on February 06, 2021, 04:35:22 PM

We'll be getting there soon, this pandemic may have been a punch in the gut for most of us but us cryptocurrency supporters and investors are sure to reap the hardships we mustered this season just to carry on with our support, especially knowing that more and more people, and bigger figures at that matter by thebway, are seeing bitcoin's potential and opted to include it in their portfolios

Other government still didn't see the help it can give since they are blinded in the idea that they can't control it and because of that they just waste the opportunity that it can give to their people. The best thing to do is to invest, trade on our own to gain profit than to wait for banks, there are already big companies who use it meaning, the potential is totally in it.

CarnagexD

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We'll be getting there soon, this pandemic may have been a punch in the gut for most of us but us cryptocurrency supporters and investors are sure to reap the hardships we mustered this season just to carry on with our support, especially knowing that more and more people, and bigger figures at that matter by thebway, are seeing bitcoin's potential and opted to include it in their portfolios

verita1

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Quote from: Karartma1 on January 27, 2021, 04:15:33 AM

Banks need to admit their defeat and let their clients have these very simple things:

No restrictions when moving fiat in/out of exchanges: my money in the bank, my rules, if I want to buy crypto that's my business not theirs
Insured custody of crypto holdings for investment, inheritance and so on
Collateralized loans where I can lend/borrow against my holdings

If they don't offer these services new fintech companies like Nexo, BlockFi, neo banks like SEBA/Sygnum, will eat their crypto-friendly user base.
The battle is over, they lost. We need banking services to unlock the full power of our crypto with no hassles.

Agree. In addition I think that banks would have to evolve and greatly to offer the services that we can currently enjoy with Nexo, BlockFi as examples.
Sadly when we prefer crypto than banks they are not stepping up to innovation and lagging behind. One solution could be as OP says that banks need bitcoin to restructure and offer us the services that we are already experiencing. And so all together we contribute to supporting our economy in any corner of the world.

OpenCryptoSystem

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Quote from: fiulpro on February 06, 2021, 12:56:34 PM

Quote from: OpenCryptoSystem on January 24, 2021, 05:30:27 PM

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

See the thing is it is really not easy to make the banks accept cryptocurrencies like bitcoins. But undoubtedly they are the best options for the online transactions which are done beyond the borders. But the banks will try and then put their own commission on anything that they are going to provide as an option.

What banks can do is :
They can support the crypto transactions with the bank account without any interference.
They need to stop giving out statements about how they will close the accounts if they are connected with cryptocurrencies.
They should work with cryptocurrencies instead of thinking of them as a competition.
They can not only save bucks if they decide to do online transactions using bitcoins but they would also do it in a much less time.
They can actually set up btc accounts all over the world , send the money over btc and then the other person can encash and send it locally. (I do think it would work really well )

Its easy lets say china bank and. Uk bank nedd to transfer
10000000 the big ammount some corp acc.
Then they just transfer btc or eth to each other wallets.
Simply done

fiulpro

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Quote from: OpenCryptoSystem on January 24, 2021, 05:30:27 PM

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

See the thing is it is really not easy to make the banks accept cryptocurrencies like bitcoins. But undoubtedly they are the best options for the online transactions which are done beyond the borders. But the banks will try and then put their own commission on anything that they are going to provide as an option.

What banks can do is :
They can support the crypto transactions with the bank account without any interference.
They need to stop giving out statements about how they will close the accounts if they are connected with cryptocurrencies.
They should work with cryptocurrencies instead of thinking of them as a competition.
They can not only save bucks if they decide to do online transactions using bitcoins but they would also do it in a much less time.
They can actually set up btc accounts all over the world , send the money over btc and then the other person can encash and send it locally. (I do think it would work really well )

oHnK

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Quote from: South Park on February 06, 2021, 01:45:53 AM

Quote from: OpenCryptoSystem on January 24, 2021, 05:30:27 PM

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

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.

babykika2027

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Im not sure that banks really think so. Sure, they will use blockchain technologies but not a bitcoin itself

Arkann

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Quote from: shoreno on February 06, 2021, 12:41:10 AM

why would china bank need eur or other currency ? and if they need eur why will they consider btc and eth when eth and btc is not a eur . banks or online banks rather are now high tech and you can now automatically send your fiat to another form of fiat but of course eth , btc or any crypto is still the best choice but it will be hard for some banks to accept it but still possible and infact there are now banks that did what you were suggesting or using cryptos as reserve funds/asset .

One way or another, China is an active member of international trade relations, where, in any case, settlements are made thanks to the dollar or the Euro. When China reaches the world level with its national currency, then the situation will change. But today they should only use the currency that is acceptable in international trade.

South Park

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Quote from: OpenCryptoSystem on January 24, 2021, 05:30:27 PM

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

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.

shoreno

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why would china bank need eur or other currency ? and if they need eur why will they consider btc and eth when eth and btc is not a eur . banks or online banks rather are now high tech and you can now automatically send your fiat to another form of fiat but of course eth , btc or any crypto is still the best choice but it will be hard for some banks to accept it but still possible and infact there are now banks that did what you were suggesting or using cryptos as reserve funds/asset .

Kong Hey Pakboy

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Quote from: Ziskinberg on January 24, 2021, 05:34:03 PM

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 agree with the statement. If central bank and government will use that kind of method how will they regulate the money? I bet they won't do that. Fiat currencies are way too different with crypto and government can't just put their assets into a thing that is not controlled by anyone or anything. They won't like uncertainty. Central bank has a different concept from bitcoin so the future is bleak in terms of government institutions relying on crypto.

Japinat

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Banks does not need bitcoin, people needs bitcoin for them to survive against a high inflation in the future due to th debts of our country. Bank is just an institution, they are a profit oriented institution and they usually make money from loans, bitcoin has nothing to do with their business, but if they will start to accept bitcoin, then that's a success for humanity because it means our government are also embracing cryptocurrency.

worle1bm

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Quote from: OpenCryptoSystem on January 24, 2021, 05:30:27 PM

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

The main problem with is that bank being regulated by centralized authority do not have individual control over their working rather their decision are influenced by the government they are working for.So it's in the hand of government to choose btc as their centeral reserve assest along with the fiat because you cannot ignore fiat completely due to the volatile nature of cryptos and they need to have a fixed amount of funds according to their financial standards.But what most government think is not to loose control over financial system of their respective countries that's why they are not in favour of these decentralised currencies and try to create their own digital coins like China is planning to do so but their utility will be limited to their respective jurisdiction unlike btc which have global access over the internet.So who knows what step they are trying to make in order to gain more power over the globe its their choice but one thing is sure btc will rise to the moon irrespective of any element.

20kevin20

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Banks need waaay higher TPS capacity than BTC is currently limited to. It wouldn't work as a global currency used between banks. Moreover, banks hate freedom. They like the exact opposite.

Between themselves as banks? Yeah, maybe they'll send BTC. But not between banks and citizens or just between the latter. Banking system publicly integrating Bitcoin is a wet dream of many, but it'll likely only remain a dream.

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