Topic: Banks are 'very excited' said Bitpay - page 2. (Read 3015 times)
the big banks could develop their own pos blockchain for internal use. it is probably better than what they use now. they can use bitpay as entry to learn the tech and people.
i wish this is a good news, are banks going to addopted bitcoin or its system ? or create their own ? i prefer ther is no invertion from bank or goverment
IT makes me wonder if first private banks will begin adopting the technology when will governments will begin I'm sure they could save way more money then banks when it comes to records and budget.
i wish this is a good news, are banks going to addopted bitcoin or its system ? or create their own ? i prefer ther is no invertion from bank or goverment
banks are 'very excited' about copying bitcoin's blockchain infrastructure .. not about Bitcoin itself
They can copy the code, they can replicate the hardware, but they will never replicate bitcoins infrastructure and key advantages. They may create other advantages over bitcoin as well... but fear not, bitcoin will always remain the more private choice and the more efficient choice because bitcoin as a protocol doesn't need permission to innovate or exist.
banks are 'very excited' about copying bitcoin's blockchain infrastructure .. not about Bitcoin itself
I think they don't care about bitcoin,they like the blockchain technology,but they don't want to use bitcoin
Banks and countries are perfectly fine to create their own Alt as it will ultimately be an effort in futility because Bitcoin will always remain ahead because:
1) Universal acceptance worldwide because its a sovereign currency that transcends legal jurisdictions
2) Maintain privacy without the risks of state and government corruption (within the blockchain)
3) Largest international user base with better network effect
4) An open source protocol cannot be regulated or sued like a corporate coin/bank coin can
5) Most of the worldwide economy exists in the grey and black markets and bitcoin is better suited to handle those markets
6) Isn't this a conversation we should have been having 2 years ago before many large adopters like NYSE heavily invested in Bitcoin companies? The establishment is already adopting bitcoin.
dare I say it. Blockchain interest has been rising faster than Bitcoin
dare I say it. YOU GET WHAT YOU PAY FOR!
wow that's good news
because before banks don't want bitcoin
and now i hope many banks would like bitcoin
because before banks don't want bitcoin
and now i hope many banks would like bitcoin
dare I say it. Blockchain interest has been rising faster than Bitcoin
I think they don't care about bitcoin,they like the blockchain technology,but they don't want to use bitcoin
I don't like it when banks say they are "very excited". History shows us that what's good for banks rarely translates into anything good for the average guy like you and me.
I think this is rather bad for bitcoins. Blockchain is one of the most crucial technology of bitcoin. If banks employ the blockchain tech for their own transfers, they will probably not end up using bitcoin but will rather make a digital blockchain without the need for bitcoin ...
Banks using Bitcoin for inter-bank settlements was never an option.
...And once they bring this technology to the mainstream public business as well , they will just use something like mobile wallets to transfer money and the only advantage of bitcoin then would be the almost 0 fees and anonymity.
Bringing such technology 'to the mainstream' wouldn't make any difference and wouldn't make much sense, as banks already can use their own software as they see fit. The only issue for the banks are settling inter-bank balances and the 'blockchain-like' tech will be nothing more than improved ledger.
In the best scenario, if all/most of the banks will adopt such tech, you could possibly expect faster/nearly instant international transactions, with slightly decreased fees (don't count on free tx). And I hope that happens. But I don't see how would that affect major advantages of Bitcoin.
It would be quite ironic if the banks were the ones to increase the Bitcoin price many times over.
They won't. This will unlikely have any effect on the price.
It would be quite ironic if the banks were the ones to increase the Bitcoin price many times over.
Banks are 'very excited' about what one of the world's best funded Bitcoin startups is doing
http://uk.businessinsider.com/30-million-bitcoin-startup-bitpays-backup-plan-sell-tech-to-the-banks-2015-6?IR=T
http://uk.businessinsider.com/30-million-bitcoin-startup-bitpays-backup-plan-sell-tech-to-the-banks-2015-6?IR=T
Is this a good thing or a bad thing? Thinking long enough, you can see this from two perspectives. Are the banks our friends or what Bitcoin is trying to fight?
I think it is interesting that banks want to use the technology, but at the same time are opposing bitcoins in general. They want to have their cake and eat it too. I am not a fan of banks, in fact they are the great satan of our day. It is sad for me to see them embracing the blockchain technology.
-snip-
tldr: banks are very excited that bitpay is working on a solution to apply "blockchain technology" to the way they do business.
In other words, this isn't related to Bitcoin but rather to blockchain technology. This shouldn't even be in this section.tldr: banks are very excited that bitpay is working on a solution to apply "blockchain technology" to the way they do business.
I wonder if they would use the actual amount of btc to transfer customer funds or use a colored coin system?
They are talking about applying blockchain technology to the mainstream currencies, not using Bitcoin. And how are they going to use blockchain technology without a cryptocurrency attached to them, exactly? will it be PoS with fiat and closed source and centralized? that isn't a blockchain, that's a regular electronic ledger.
I was just going to post this. There is no blockchain without bitcoin.
-snip-
tldr: banks are very excited that bitpay is working on a solution to apply "blockchain technology" to the way they do business.
In other words, this isn't related to Bitcoin but rather to blockchain technology. This shouldn't even be in this section.tldr: banks are very excited that bitpay is working on a solution to apply "blockchain technology" to the way they do business.
I wonder if they would use the actual amount of btc to transfer customer funds or use a colored coin system?
They are talking about applying blockchain technology to the mainstream currencies, not using Bitcoin. And how are they going to use blockchain technology without a cryptocurrency attached to them, exactly? will it be PoS with fiat and closed source and centralized? that isn't a blockchain, that's a regular electronic ledger.
I think this is rather bad for bitcoins. Blockchain is one of the most crucial technology of bitcoin. If banks employ the blockchain tech for their own transfers, they will probably not end up using bitcoin but will rather make a digital blockchain without the need for bitcoin which could be supported by something else just like account transfers. And once they bring this technology to the mainstream public business as well , they will just use something like mobile wallets to transfer money and the only advantage of bitcoin then would be the almost 0 fees and anonymity.
I don't think that as a part of Bitcoin Community we need a support from the banking system we are enjoying the success of holding bitcoins. No doubt many of them believe that Bitcoin is dead but its all about spreading the rumors and it would never affect the Bitcoin community who have blind trust on the Bitcoins.
the only advantage of bitcoin then would be the almost 0 fees and anonymity.
I think this is rather bad for bitcoins. Blockchain is one of the most crucial technology of bitcoin. If banks employ the blockchain tech for their own transfers, they will probably not end up using bitcoin but will rather make a digital blockchain without the need for bitcoin which could be supported by something else just like account transfers. And once they bring this technology to the mainstream public business as well , they will just use something like mobile wallets to transfer money and the only advantage of bitcoin then would be the almost 0 fees and anonymity.
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