Big banks creating Bitcoin alternative

gregyoung14

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Quote from: jethrorn99 on February 18, 2016, 09:09:32 AM

Cryptocurrency is getting bigger and more popular now than ever.

It's a no brainer if Banks want to make one aswell.

Actually yea. But on a bigger picture this is very good news to all of us. This to me sounds a big value hike for BTCs.

jethrorn99

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Cryptocurrency is getting bigger and more popular now than ever.

It's a no brainer if Banks want to make one aswell.

Bitcoinbro

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They will try it of course but it will not get popular, the banks hate the bitcoin and the bank wants to have control but they will never get it from the bitcoin. They will lose for sure if they will make one it will fail of course. They only like the blockchain...

bitlost

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Well, as much as the banks and other financial institutions are in the run for an alternative to bitcoin, I can honestly say that it will not be easy to beat bitcoins from its game. This is a digital currency that has been deeply rooted in peoples mind and is growing day and night irrespective of the negative publicity it is getting. What I know is that the banks are trying to come up with a currency that they will have control over now that they don't have it on bitcoins...

BitUsher

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LOL, banks finally figure out they can use merkle trees to track transactions in a distributed database instead of using excel spreadsheets and antiquated databases written in Fortran. Very cute. To bad their database will be tracking currencies going through hyperinflation due to negative inflation rates.

https://www.youtube.com/watch?v=1EjpEqZt_AA&feature=youtu.be

They are a little late to ban the 100 dollar bill, when bitcoin is already a valid alternative for capital flight. In other words, even if banks create their own cryptocurrency(this isn't) I won't touch their shitcoins. They have already betrayed the trust of their clients and sold off our future.

Cateinyard

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Quote from: greBit on February 05, 2016, 05:27:12 PM

Quote from: bitcoinboy12 on February 05, 2016, 09:21:09 AM

And of course it has to be the Chinese again. They're everywhere and this one might send the price down.

But I don't think it will work for them and banks will ultimately fail because if they creat an alternative for Bitcoin then their will be clash between fiat note and banks BTC alternative I mean crypto coin created by bank if it happens

I do not think all the banks in the world can deal with single coin. If there is one, that will be bitcoin.

greBit

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Quote from: bitcoinboy12 on February 05, 2016, 09:21:09 AM

And of course it has to be the Chinese again. They're everywhere and this one might send the price down.

But I don't think it will work for them and banks will ultimately fail because if they creat an alternative for Bitcoin then their will be clash between fiat note and banks BTC alternative I mean crypto coin created by bank if it happens

Laosai

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Quote from: Yakamoto on December 17, 2015, 07:12:06 PM

Quote from: countryfree on December 17, 2015, 06:57:09 PM

Wrong title!

What the big banks are creating is not a BTC alternative, nor is it against BTC at all. BTC is a cryptocurrency with an open public ledger. The big banks are creating a large distributed record book, but it won't be public (it's only for big banks), and it won't be associated with a cryptocurrency.

I like it. The big banks are doing their thing, and they don't mess around with BTC.

I agree, as long as the banks do their own thing, and are not interested in doing anything to Bitcoin, it is fine by me.

the thing I don't like about them building a public ledger is that it may make it so that neighbors compare bank accounts too much, and could lead to more robberies or other similar crime in the future.

I'm sure they could probably find a way around that, but it just seems a bit too good to be true, and would probably work fairly poorly in reality.

The only thing that is worrying me is that it might put btc against the wall...

Banks are clearly capable of saying that it's "exactly like btc, but has banks only can check the ledger it won't be used by terrorists" and that it will help laws pass against btc :/

Kprawn

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The banks want a technology they can manipulate at will.... They also want a currency not linked to external risks { Developer problems / Miner

dominance / Pre-mined coins or Satoshi's stash } They also want a decentralized network, running privately { for security against hackers } and only

accessible to them. The fact that transfers of currency will be cheaper and more cost effective, will be a added bonus for the shareholders. They will not

compete with Bitcoin in the public scene... we already dominate that scene with a much stronger network and tested technology.

bitcoinboy12

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And of course it has to be the Chinese again. They're everywhere and this one might send the price down.

Cs87kxy

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an alternative for bitcoin is another altcoin, in this case a "bank" coin...
as others cases, I think it's only a speculation move to build a new currency, perfect for pump and dump Wink

bacloud

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Banks always want to take a piece of cake. They can't believe that they can't control bitcoin payments.

kevin go

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Quote from: HostSurf on January 23, 2016, 08:01:03 PM

Quote from: phreaky on January 23, 2016, 07:30:14 PM

Quote from: MoneyChanger on January 23, 2016, 05:57:18 PM

They can do whatever thay want but BTC was first and will stay at the top!

Well yes and no.
They can do what they want, yes
But no bitcoin being the first is no guarantee bitcoin will 'make it.' Marketing is very important.

Banks have more power. Financially and politically, so they can implemetn their blockchain better, faster and cheaper.
This could be a bitcoin killer thing if they go along with it.

thats true bank is powerfull..but how if when btc good more fucntional or advantages than that banks?everyone will be move to btc..no matter how strong the bank..if no customer the bank will not appear..

Cateinyard

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Quote from: aso118 on January 23, 2016, 09:54:52 PM

Quote from: MoneyChanger on January 23, 2016, 05:57:18 PM

They can do whatever thay want but BTC was first and will stay at the top!

Facebook wasn't the first social networking system.
iPhone wasn't the first phone produced.
But they are the leaders today, aren't they?

It is quite difficult for all the banks to agree to a single coin, if so, they will will use multiple coins. Bitcoin will still be the universal coin.

aso118

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Quote from: MoneyChanger on January 23, 2016, 05:57:18 PM

They can do whatever thay want but BTC was first and will stay at the top!

Facebook wasn't the first social networking system.
iPhone wasn't the first phone produced.
But they are the leaders today, aren't they?

HostSurf

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Quote from: phreaky on January 23, 2016, 07:30:14 PM

Quote from: MoneyChanger on January 23, 2016, 05:57:18 PM

They can do whatever thay want but BTC was first and will stay at the top!

Well yes and no.
They can do what they want, yes
But no bitcoin being the first is no guarantee bitcoin will 'make it.' Marketing is very important.

Banks have more power. Financially and politically, so they can implemetn their blockchain better, faster and cheaper.
This could be a bitcoin killer thing if they go along with it.

phreaky

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Quote from: MoneyChanger on January 23, 2016, 05:57:18 PM

They can do whatever thay want but BTC was first and will stay at the top!

Well yes and no.
They can do what they want, yes
But no bitcoin being the first is no guarantee bitcoin will 'make it.' Marketing is very important.

calkob

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Quote from: techmanuk on December 17, 2015, 06:10:35 PM

This article caught my eye earlier: http://www.wired.com/2015/12/big-tech-joins-big-banks-to-create-alternative-to-bitcoins-blockchain/

Seems that big banks want in on the idea of the Blockchain, but are opting against Bitcoin.

watch andreas antonopoulous on youtube talking about bubble boy, its great.......... Grin

MoneyChanger

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They can do whatever thay want but BTC was first and will stay at the top!

btcprospecter

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I was thinking the other day about banks using a form of crypto currency, would they opt for using the same coin or would they all have different because if they all had different would they have different value aswell?

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