Banking giants who supports bitcoin technology

S4VV4S

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Quote from: Denker on August 01, 2015, 07:39:26 AM

Quote from: BillyBobZorton on July 31, 2015, 07:02:50 PM

It's always glad to see banking giants talking about BITCOIN technology and not only BLOCKCHAIN. I hate the guys that are trying to rip off the blockchain from Bitcoin to create their own blockchains which are basically a closed ledger without any of the revolutionary stuff of Bitcoin. These idiots are destined to fail and only the ones supporting BITCOIN will make it.

I think the title is a bit missleading. Or if you read a bit between the lines you realize that Bitcoin technology=Blockchain.
Every bank has no real interest in Bitcoin. They will try to find a way to use kind of closed and permissioned Blockchain for themselves. I can't really believe any bank has interest to implement Bitcoin. Time will tell. But I trust no bank.Never ever!!!

They can just use the security of the Bitcoin block chain by simply storing their information on it.
That way they get the security the real block chain has to offer and keep working as they would normally.

It would only make sense to do this over trying to create another block chain which could most probably be vulnerable to attacks.

Mickeyb

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Move On !!!!!!

Well we are surely getting noticed by many, and by banks as well. Now only question is what will they do? Will they adopt Bitcoin? I highly doubt. Will they try and create their blockchain, this is more plausible. All in all, whatever they do, I think that we are gaining enormously. This interest from the bank is something that legitimates us completely!

Denker

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Quote from: BillyBobZorton on July 31, 2015, 07:02:50 PM

It's always glad to see banking giants talking about BITCOIN technology and not only BLOCKCHAIN. I hate the guys that are trying to rip off the blockchain from Bitcoin to create their own blockchains which are basically a closed ledger without any of the revolutionary stuff of Bitcoin. These idiots are destined to fail and only the ones supporting BITCOIN will make it.

I think the title is a bit missleading. Or if you read a bit between the lines you realize that Bitcoin technology=Blockchain.
Every bank has no real interest in Bitcoin. They will try to find a way to use kind of closed and permissioned Blockchain for themselves. I can't really believe any bank has interest to implement Bitcoin. Time will tell. But I trust no bank.Never ever!!!

Hopalong

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Quote from: botany on August 01, 2015, 06:52:42 AM

Quote from: Hopalong on July 31, 2015, 07:31:37 PM

Quote from: VirosaGITS on July 31, 2015, 07:22:15 PM

Quote from: edric on July 31, 2015, 07:07:24 PM

I think it's inevitable that major central banks will create their own cryptocurrencies.

Why would they give up their fountain of income for a coin system?

Why would they give up trading with currencys and stocks? You know that is their fountain of income....

One bank will just take the lead and all others will have no choice but to follow, or get left behind.
They have made their money, but their business model has now been disrupted.

Their business modell is to use money to earn money. What the fuck is the difference to them if they use $ or BTC. They are will just adapt and everything will just continue like today. If a crypto take over for a fiat somewhere the banks will be along for the ride. It is their job.

botany

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Quote from: ajareselde on August 01, 2015, 06:58:45 AM

Terms should be differentiated , since banks do care about blockchain technology, but are definetly not interested in bitcoin itself, because
it is their rival obviously. Many people read news articles like this one, and conclude from title that there's some backing up of bitcoin from
bank giants, where the truth is far from that.

cheers

Some banks could be interested in bitcoin as well.
BNP Paribas was a registered participant in the FBI's bitcoin auction.
http://www.coindesk.com/list-possible-silk-road-bitcoin-bidders-allegedly-leaked-us-marshals/

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Terms should be differentiated , since banks do care about blockchain technology, but are definetly not interested in bitcoin itself, because
it is their rival obviously. Many people read news articles like this one, and conclude from title that there's some backing up of bitcoin from
bank giants, where the truth is far from that.

cheers

botany

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Quote from: Hopalong on July 31, 2015, 07:31:37 PM

Quote from: VirosaGITS on July 31, 2015, 07:22:15 PM

Quote from: edric on July 31, 2015, 07:07:24 PM

I think it's inevitable that major central banks will create their own cryptocurrencies.

Why would they give up their fountain of income for a coin system?

Why would they give up trading with currencys and stocks? You know that is their fountain of income....

One bank will just take the lead and all others will have no choice but to follow, or get left behind.
They have made their money, but their business model has now been disrupted.

LiteCoinGuy

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In Satoshi I Trust

Quote from: nextgencoin on August 01, 2015, 12:52:25 AM

Hahahahahahahahahahahahaha none of these banks want a Bitcoin to succeed they are simply hedging their bets and IF bitcoins popularity gets out of ha d they will make their own open ended coin that that can be inflated like fiat....the masses will be told it's just like Bitcoin but safe and wolves win again...

people will love and use that for sure (/s)

nextgencoin

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Hahahahahahahahahahahahaha none of these banks want a Bitcoin to succeed they are simply hedging their bets and IF bitcoins popularity gets out of ha d they will make their own open ended coin that that can be inflated like fiat....the masses will be told it's just like Bitcoin but safe and wolves win again...

VirosaGITS

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Quote from: foodstamps on July 31, 2015, 10:03:16 PM

Decentralization goes against everything big banks stand for. I could see them using blockchain technology for a centralized system though.

Yeah i agree. The blockchain is a pretty good and secure super-ledger. I understand why many expert would study how the blockchain is made. I'm not sure why everyone obligatorily link the blockchain to BTC.

Hopefully this will ultimately lead to a more mainstream adaptation of BTC.

foodstamps

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Decentralization goes against everything big banks stand for. I could see them using blockchain technology for a centralized system though.

TeKenway

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I would not believe any bank cares so much about making any kind of coin on their own.

CryptoCurrancy if stabilized has a place in a clients investment portfolio. Using BTC to hedge against commodities or currency collapse via inflation is smart bet.

I would imagine the banks are more of R
&D phase to figure out the stability and functionality of BTC.

I would imagine a CryptoCurrancy index and fund coming out of these studies to try and capture the enthusiasm.

The news of overstock selling WS their bitcoin packages bonds is just another form of how banks can make some money off of this new technology without having to invent their own.

There is already a ETF out there, I however find it kind of pointless to be honest.

Once again, BTC is still very young and I can see the sharks biting on surfers out of curiousity.

VirosaGITS

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Quote from: Hopalong on July 31, 2015, 07:31:37 PM

Quote from: VirosaGITS on July 31, 2015, 07:22:15 PM

Quote from: edric on July 31, 2015, 07:07:24 PM

I think it's inevitable that major central banks will create their own cryptocurrencies.

Why would they give up their fountain of income for a coin system?

Why would they give up trading with currencys and stocks? You know that is their fountain of income....

They wouldn't give up on anything, that's for sure. It's about whether it's possible for bank to find a place to start their own coin, which i can't imagine.

It's a decentralized thing so i would see more the Bank finding a way to milk BTC transaction since it require minimal effort for maximum gain.

Hopalong

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Quote from: VirosaGITS on July 31, 2015, 07:22:15 PM

Quote from: edric on July 31, 2015, 07:07:24 PM

I think it's inevitable that major central banks will create their own cryptocurrencies.

Why would they give up their fountain of income for a coin system?

Why would they give up trading with currencys and stocks? You know that is their fountain of income....

VirosaGITS

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Quote from: edric on July 31, 2015, 07:07:24 PM

I think it's inevitable that major central banks will create their own cryptocurrencies.

I doubt they will want to make a decentralized system and i'm not sure how what a centralized cryptocoin would be.

Why would they give up their fountain of income for a coin system?

BTC integration as a method of transferring funds seem more likely, but i have issue imagining that with them slapping huge fee on top.

edric

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I think it's inevitable that major central banks will create their own cryptocurrencies.

BillyBobZorton

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It's always glad to see banking giants talking about BITCOIN technology and not only BLOCKCHAIN. I hate the guys that are trying to rip off the blockchain from Bitcoin to create their own blockchains which are basically a closed ledger without any of the revolutionary stuff of Bitcoin. These idiots are destined to fail and only the ones supporting BITCOIN will make it.

cogabonito

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Quote from: mallard on July 31, 2015, 04:03:15 PM

That's a nice article that you copypasted here.

It's not copy pasted, just copied the abstract and give the link as credit. That's what should be done for all 3rd parity websites.

gentlemand

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Welt Am Draht

Quote from: bornil267645 on July 31, 2015, 03:32:04 PM

However, one of its biggest opponents has been traditional financial institutions who have viewed it as a threat.

Most financial establishment talk has been of it being an irrelevance or menace. I don't think many have actually viewed it as a threat so far. That'll change but plenty will assimilate too.

mallard

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That's a nice article that you copypasted here.

Topic: Banking giants who supports bitcoin technology (Read 855 times)