Topic: Banks and Bitcoins: Is it possible in th future? - page 2. (Read 2181 times)
In my opinion it is quite possible that it may happen but not to the extent that it will be implemented this year. In the coming future it may had the possibility that these two were going to be adjunct to each other but of course with the help of the users and other banks who supports this action. But I think a problem may rise if these two would combine but it can be resolve.
The very essence of Bitcoin is to put control of your money into your hands, you are your own bank. To suggest Bitcoin and banks is to throw that all away, they would have control of your coins, and they could track all your purchases which kills the anonymity of Bitcoin.
This is painfully true. That synergy may kill the anonymity of the bitcoin. But then, can Bitcoin truly advance further without the banks? Already most transactions involving the Bitcoin are done through the banks. In Africa, you must convert to fiat before feeling the impact if Bitcoin. It isn't possible yet to do a direct buy of goods with Bitcoin here in Africa. On the deposit and withdrawal thing, it's going to take another technology to come by since Bitcoin is a virtual thing and not physical like dollar or euros.
In my opinion, it is possible as there are some banks offered bitcoins directly to their clients. More and more banks may follow and bitcoins will be more accessible to the general public. It is good for bitcoin when more and more people use it.
All hope the bitcoin will continue to grow and grow in many countries until all can benefit greatly on bitcoin. However I see that it will take a long time since most people use bills in exchange of service and stuffs
What the fuck does that have to do with anything? Sig spamming on the wrong post champ?
People have been trading, remitting, and saving money, among others at their trusted banks for years. If they have an option to still do the same less double-spending, other transaction costs and time spent falling in line (for some transactions not available online), how resilient would they be? For instance, the current population of OFWs alone (approximately 10 million out of total current population of 92.2 million) would save significant amount and time if they use bitcoin for trading. Risk-averse people who just want to save money may opt to still keep their money in the banks.
If you think you're risk-averse by keeping your money in a bank you are very sadly mistaken and your parents didn't teach you well enough about money and how it really works.
People have been trading, remitting, and saving money, among others at their trusted banks for years. If they have an option to still do the same less double-spending, other transaction costs and time spent falling in line (for some transactions not available online), how resilient would they be? For instance, the current population of OFWs alone (approximately 10 million out of total current population of 92.2 million) would save significant amount and time if they use bitcoin for trading. Risk-averse people who just want to save money may opt to still keep their money in the banks.
Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
If that's happen to our future, i can't see any idea to be a bad effect, we need bank to save our money. And alson we need bitcoin to growth our money, well i hope bitcoin will alo safe in the bank if that's happen.
Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
by not cooperating with banks
so if I think it's better to use it from person to person, if the price will be introduced in the banking sector maybe bitcoin is not beneficial for everyone but if bitcoin and bank will join each other then will lose a lot of work, and then they will leave bitcoin half. and also the banking sector will make bitcoin prices according to their shares.
It seems to me that the bitcoins in the near future will replace the banking system, it will become obsolete and banks will simply have to adjust to it. But it certainly will not play to the benefit of banks. And in general, let's see how it will happen, I'm for bitcoins, because this is a promising minimum.
I think it's time to follow the development of the digital age.
Maybe the future later, many banks are following bitcoin for several reasons. I don't know like you, let's see the progress.
It seems to me that the bitcoins in the near future will replace the banking system, it will become obsolete and banks will simply have to adjust to it. But it certainly will not play to the benefit of banks. And in general, let's see how it will happen, I'm for bitcoins, because this is a promising minimum.
Yes, it is possible. If this happens, remember we are not putting all our bitcoin in the bank. Just like what we are doing today, we don't put all our money in the bank. And it is happening in exchanges today, some of my bitcoin is on a regulated exchange and some are in unregulated exchange. Our purpose in banking is all different, I can put some of my bitcoin in the bank for safety keeping.
Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
Banks are bad because the way that they make money (usually) results in inflation, normally referring to fractional reserve lending which I almost guarantee would happen with Bitcoin if they try to make banks part of the crypto economy. Banks will absolutely be a net-negative and I would highly dislike any kind of banking system becoming normalized. It would be bad for everyone and not any better than how fiat works. If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
All hope the bitcoin will continue to grow and grow in many countries until all can benefit greatly on bitcoin. However I see that it will take a long time since most people use bills in exchange of service and stuffs
Very much possible !!!! Banks have to be made a viable mode for accepting and exchanging bitcoins instead which would definitely be a better way to make major of the digital currencies in reach. The main reason why they both cant work together would be that digital currencies arent controlled by anybody whereas the banks are controlled by regulatory bodies. Definitely it would be a good idea if they both work together which would boost the economy resulting in major investments diversified. Still would wait for the future and see what we have in the store.
Not so optimistic. Banks will surely adopt blockchains, thats a work in progress. But im not so sure about bitcoin itself. There are already more "regulation friendly" coins that banks would more quickly adopt. bitcoin is slow, cumbersome, and entirely too volatile to function as this. the trust, in my opinion, is really the only thing keeping bitcoin afloat at this point. and the forks are doing alot to undermine that.
we need to get it together, or we wont survive.
Very much possible !!!! Banks have to be made a viable mode for accepting and exchanging bitcoins instead which would definitely be a better way to make major of the digital currencies in reach. The main reason why they both cant work together would be that digital currencies arent controlled by anybody whereas the banks are controlled by regulatory bodies. Definitely it would be a good idea if they both work together which would boost the economy resulting in major investments diversified. Still would wait for the future and see what we have in the store.
Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
I think at this time many ico based banks. although I do not really know it. but I think there will always be new innovations about the development of bitcoin and blockchain. this is the era of the digital age.
I think it wouldn't be possible.Bitcoin is for online only.
The whole point of Bitcoin was to create a completely decentralized system for overall usage whereas banks and governing agencies oppose the whole idea of decentralization as they want everything under their control. Being digitized in nature, why would someone want to deposit Bitcoins in a bank while there are so many exchanges or services to buy from? Bitcoin ATMs for withdrawal on the other hand are really good signs of growth and have only been available in only select countries.
Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.
In my opinion: what yours?
This already exists! Coinbase, Kraken, Xapo, etc, are all banks whete you can store crypto and exchange it fir fiat when needed. Most of these banks offer debit cards now so you can spend your bitcoin wherever debit cards or visa/mastercard are accepted.
There's room for otherbanks to get involved but we shouldnt be acting like these services fon't already exist.
To the OP, how much do you pay your fiat bank in fees each year? Do they charge you for a checking account? Do they require a minimum balance for a savings account?
I'd rather be my own bank!
Obviously at some point some bank somewhere will hold your bitcoins for you. Should anyone use that bank? NO! Bitcoins don't need to be held in a bank.
If you want to trust someone with your private keys just PM them to me. I have no issue holding your bitcoins for you.
If you want to trust someone with your private keys just PM them to me. I have no issue holding your bitcoins for you.
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