Are the banks going to kick-out bitcoin with their new digital coin - page 6.

richardsNY

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Quote from: Geemy on October 26, 2017, 06:45:47 PM

if all banks make one coin , yes will be kick-out bitcoin , but if every back make one coin to each , there is no sens of it i think

No. You don't get the point here. Bitcoin's major selling point is its decentralized nature. It allows people to store wealth, transact, communicate, store data, etc, all that outside the reach of banks and governments. It offers people a way to escape this broken system that only leads the far majority of the people to poverty. Governments and banks can come up with as many crypto currencies as they want, they will never be able to even slightly harm Bitcoin. If people didn't care about Bitcoin and its insanely powerful network, they would have jumped over to another coin years ago already. From there it's safe to say that even non banking and governmental issued altcoins will never have the chance to come even close to what Bitcoin is right now.

aar

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Quote

Are the banks going to kick-out bitcoin with their new digital con?i

No?

khaled0111

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It will be a complete failure. People use bitcoin because of anonymity, decentralization and low transaction fees, Banks will never create a cryptocurrency with such features because of their greed and stupid laws and let's not forget the interference between banks and governments.
The good thing is that Banks avow that Bitcoin is growing fastly and they can't stop it and that cryptocurrency is the future of finance.

TanyaDegurechaff

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They say a thin line separates genius and madness.

Quote from: zycrypto on September 03, 2017, 05:40:36 PM

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain cryptocurrency project,which first launched in 2015, which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

I can assure you that it will not succeed because of the following
* banks are centralized which means that every transaction you made is being monitored. And that alone contradicts the way cryptocurrecies work.
* not all people use the same bank so the transactions by using that coin is very limited compared to bitcoin.
* The source of your funds will be questioned if it reached a certain maount just like in fiat and the bank will decide whether to report you to the police if they believe you funds comes from illegal activities even if is not.
*banks are less secured compared to blockchain technology.
*the banks are the ones that going to process your transaction and not the miners so many people who mine will not entertain the banks coin.
*And for the last one
* banks are greedy bastards and will not increase the value of the coin to prevent them from loosing money over it and the price will be surely regulated by them.

digitx

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I don't think so - most banks are already digital. They use digital transfers to move money from location to location. The real benefit of Bitcoin is in its decentralised model and the ability to send it quickly for (relatively) low cost.

Of course that convenience is lowered by having to manage your own security (unless you get a web wallet). Opening a Bitcoin account takes seconds. Bank accounts - not so quick. Sending to anyone anywhere in the world takes a maximum of a few hours during busy times. Banks currently take days.

The problems isn't really the banks though - its more the layers of procedure and red-tape that are instituted to "stop" criminals. Bitcoin has auditability and complete traceability so can actually help law enforcement track payments without the need for regulation.

Unless there is a very compelling reason to switch (helicopter drops maybe???) I don't think Bitcoin is going to stop being used.

Geemy

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if all banks make one coin , yes will be kick-out bitcoin , but if every back make one coin to each , there is no sens of it i think

AimHigh

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Quote from: zycrypto on September 03, 2017, 05:40:36 PM

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain cryptocurrency project,which first launched in 2015, which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

Not only bitcoin they want to kick out all of the altcoin they want to kick out because many big banks was affected on the cryptocurrency if all people save or invest there mony to bitcoin they can earn every day, week, month and year but in bank if you invest after a year before you earn so that many big banks thinking what is the bedt defender to there business for the bitcoin to remove all the altcoins.

layoutph

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Bitcoin is created to bypass the tax and 3rd party involvement in transactions. I dont think people are just enjoy trading online. People wants freedom. For sure they will not buy the centralized government coins unless you are a forex trader. Yup acquiring them is just like playing Forex with different fiat currencies.

mast3rm1nd

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I can see the angle they are trying to get here. I mean many people are aware of the philosophy and idea of cryptocurrency, so if you can't beat them might as well join them.

Victorycoin

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Quote from: Maveth13 on September 06, 2017, 10:00:51 AM

Why won't they just use bitcoin itself rather than creating a new coin to do the things that bitcoin can already do? It's such a waste of time, effort and money to make a coin and try to "rival" other cryptocurrencies. If their focus is on trades and instant transactions, then just use bitcoin.

Short and simple, they have a skeleton in their cupboard and they can't pretend anymore how threatened they have become each day as Bitcoin keeps pulling down their walls. All I could read from the article is rattling of people who know they already lost it and stand no chance of catching up, much more overtake. One more time, they've clearly demonstrated their hatred and dead wish for Bitcoin and altcoins by extension, but it's already too late.

To all the so called big and strong banks, of course, Bitcoin cannot be kicked out, the people have taken their stand with Bitcoin - something they can trust to a very large extent.

beatleap

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Please Bitcoin will win against any alt coin which is released and will beat any bank

Viscera

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Quote from: zycrypto on September 03, 2017, 05:40:36 PM

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain cryptocurrency project,which first launched in 2015, which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

Bitcoin is the mother of all cryptocurrency so it will not happen, they can create coins but kickin out bitcoin is a bad decision ever. they can create coins using erc20 of Ethereum and they can use Waves also if they want coz they are capable of ICO

FJNuñez

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The banks are most certainly not going to kick-out Bitcoin with their new digital coin. Why would their digital coin have any value? Their network would be insecure and worthless.

MMA

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Quote from: JohnBitCo on September 30, 2017, 03:38:05 AM

Quote from: zycrypto on September 03, 2017, 05:40:36 PM

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain cryptocurrency project,which first launched in 2015, which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

Most of banks accept bitcoins. I don't think they kick it out. Bitcoin is decentralized and father of crypto currency.They should use bitcoins rather than creating new coins. The new coins are only alt coins and none serve the purpose as bitcoin does. We saw the launch of BCH but it also not succeeded so you can think what any new coin can do.

I do not think that most of the banks accept bitcoins, in fact most of the people are still not accepting bitcoin, in fact they are working under their government, therefore i do not think that most of the banks are accepting bitcoin, i think in future when government will start accepting bitcoin, banks will also start dopositing bitcoin in their banks wallet.

pooya87

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have thousands of altcoins "kicked out" bitcoin yet with their version of "digital coin"?
obviously not. they have not even come close to be able to think about "kicking out". let alone actually doing it. and the same will be true about anything that comes out of a bank. it will be centralized for sure which is something that most altcoins don't have (1 positive point for altcoins).

JohnBitCo

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Quote from: zycrypto on September 03, 2017, 05:40:36 PM

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain cryptocurrency project,which first launched in 2015, which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

Most of banks accept bitcoins. I don't think they kick it out. Bitcoin is decentralized and father of crypto currency.They should use bitcoins rather than creating new coins. The new coins are only alt coins and none serve the purpose as bitcoin does. We saw the launch of BCH but it also not succeeded so you can think what any new coin can do.

edynolan

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it's great if some of the world's largest banks set up their own coins because this makes it all a bit easier by paying for coins, but it's impossible for them to kick bitcoin out of the market because now bitcoin can be said to be the number 1 coin in people's search because it has the most prices high and from the beginning bitcoin the most demanded by people.

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Quote from: coin_1122 on September 29, 2017, 06:13:35 AM

Maybe for banks, it is not possible to ban the Bitcoin because already Blockchain tech is implemented in many big organization. An Even big country like the US till now they did not announce about banning the Bitcoin and but they want to regulate the ICO conducting procedure.

big organizations aren't what make bitcoin so durable, it's the many individual users that have adopted it and support its growth. with bitcoin, the power doesn't all go to the few big players, although they may control a sizeable influence, a decentralized network such as the one bitcoin is based on allows more pull on the side of the many. we run the nodes, we run a fair portion of the mining network power, and we use most of the transactions.
as for regulating ico's, I think it's a good move overall; these projects involve millions in crowd funding, that alone, I think, necessitates regulation. not to mention the scams.

Ilegendph

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For me its not really possible for banks to create cryprocurrency like bitcoin. Issues like decentralization and security will come in place plus the unbeatable potential earning in bitcoin other than any normal flat currency. In security, banks are mandate to get the name of their client therefore if you buy their crypto, they will keep a record of your name and account or wallet. In decentralization, the crypto they will make would be centralized since it is based on traditional currency such as dollars.

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Quote from: jonatuzc on September 29, 2017, 06:06:55 AM

Quote from: Emoclaw on September 06, 2017, 06:21:48 AM

No sane person would ever use a cryptocurrency made by a bank.
This completely defeats the purpose of cryptocurrencies which aim to be trustless, decentralized and (to a certain degree) anonymous.
Therefore it's safe to say that a bank shitcoin won't 'kick-out' anything.

I also it is not possible although the banks have strongly discourages digital currencies all over the world, because if digital currency prevail in the world the role of the banks will reduce very much. If some one goes to bank the purpose is just money deposit, withdrawal or sending some other place.

And when there is no need to go to banks for all the three above mentioned things then there is no need of banks.

Once digital currency uses widelly it will be hard for them to win on it, having btc that applicable on doing such activities will be enough to used by many than to choose bank. But for now many will still choose banks since btc needs more development.

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