Bitcoin & Banks - page 2. | Bitcointalksearch.org

Lyana

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Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

I think it's the same as exchanging one currency for another, like exchanging a dollar for Bitcoin. Nothing else can be done at the bank. For such manipulation, the bank will earn its own percentage of the transaction.

Quote from: Argoo on January 26, 2019, 12:22:53 AM

Banks will be forced to provide services in cryptocurrency, including Bitcoin, but they will not use Bitcoin in their own activities. For this, banks have a ripple coin, more suitable for this purpose, and they have no reason to switch to using Bitcoin, which is not intended for this.

I totally agree! I would like to add that the bank is only a currency exchange office or it can be said that it acts as an intermediary for legal transactions: a person-bank-person (organization)

Ipwich

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Quote from: Argoo on January 26, 2019, 12:22:53 AM

Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

Banks will be forced to provide services in cryptocurrency, including Bitcoin, but they will not use Bitcoin in their own activities. For this, banks have a ripple coin, more suitable for this purpose, and they have no reason to switch to using Bitcoin, which is not intended for this.

Maybe, if the demand will continue to increase because they will not refuse to this opportunity.
The money that will come in is big because but that time, we will become a trillion market and with their influence, it will only make more people trust crypto and of course not only they will transact, they will also try to invest since it gives potential to be profitable when demand increases.

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Quote from: shinharu10282016 on January 09, 2019, 07:03:44 PM

Quote from: TopT3ns on January 09, 2019, 06:30:57 PM

Quote from: diamond_shine1 on January 09, 2019, 05:53:19 PM

Which I know banks don't like bitcoin, Decentralized nature that makes banks dislike it.
it's impossible for banks to accept bitcoin

Right, and no need to force it bank should accept bitcoin. Even without banks, bitcoin still can be itself and actually adopted by people is already enough for bitcoin to keep steady in this world.

Yeah, banks don't like bitcoin. Other financial institution who looks into what bitcoin and altcoins do are doing it.

Risk takers on this field are more likely those who have done research before handing out their money to be so sure they'd make profit out of it.

Banks is not totally in favor of bitcoins because of its high volatility rate but what i think is about to go down in the future is the STO or the Security Token Offering. If you guys are ware of it STO is going to replace the ICO on which the token will be backed by physical assets and this means most banks and institutions would be open for cryptocurrencies but not the bitcoin mainly. STO features less harm and risks to investors by that means industry like this will boom in the future.

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Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

Banks will be forced to provide services in cryptocurrency, including Bitcoin, but they will not use Bitcoin in their own activities. For this, banks have a ripple coin, more suitable for this purpose, and they have no reason to switch to using Bitcoin, which is not intended for this.

Kayum10029

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Banks and bitcoin are in common phenomenon in modern time. Banks of development countries accept bitcoin besides their Fiat transactions but some bitcoin hater countries's Bank don't like bitcoin.

shinharu10282016

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Quote from: TopT3ns on January 09, 2019, 06:30:57 PM

Quote from: diamond_shine1 on January 09, 2019, 05:53:19 PM

Which I know banks don't like bitcoin, Decentralized nature that makes banks dislike it.
it's impossible for banks to accept bitcoin

Right, and no need to force it bank should accept bitcoin. Even without banks, bitcoin still can be itself and actually adopted by people is already enough for bitcoin to keep steady in this world.

Yeah, banks don't like bitcoin. Other financial institution who looks into what bitcoin and altcoins do are doing it.

Risk takers on this field are more likely those who have done research before handing out their money to be so sure they'd make profit out of it.

TopT3ns

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Quote from: diamond_shine1 on January 09, 2019, 05:53:19 PM

Which I know banks don't like bitcoin, Decentralized nature that makes banks dislike it.
it's impossible for banks to accept bitcoin

Right, and no need to force it bank should accept bitcoin. Even without banks, bitcoin still can be itself and actually adopted by people is already enough for bitcoin to keep steady in this world.

diamond_shine1

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Which I know banks don't like bitcoin, Decentralized nature that makes banks dislike it.
it's impossible for banks to accept bitcoin

AimHigh

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Yes of course they have different protocol, rules and regulation because digital money and fiat money was a different its needed for those owner or user not to conflict regarding on that matter. I think soon or soonest banks was totally accepting bitcoin or any cryptocurrency because of the evolution of technology in our time so that they need it for them not going to bankruptcy because of not adopting new technology.

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Quote from: OmegaStarScream on December 30, 2018, 10:16:12 AM

Something very similar to the current banking system where there is no anonymity and decentralization and from the coins that we currently have, I think Ripple fits the description.

Many banks are already accepting this coin and I think banks are already accept the fact that they need this technology so they survive in the future. But still some banks don’t support bitcoin because its decentralized and its too risky for them to invest/adopt because of the volatility, banks are greedy they want a sure profit.

Denton

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I don't think they can be connected. Bitcoin has a completely different purpose. Bitcoin provides users with anonymity, but banks need a centralized coin. So I think that bitcoin and banks are incompatible.

goaldigger

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There are really a huge different if bitcoin introduced to banks first. As we all know that banks are all governed by the government. If they are the ones who make us known the existence of BTC first,then cryptocurrency will be legal in all countries, but it all will be centralized and controlled by either banks or government. I dont think if people would still invest unto it.

Taki

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First of all crypto currencies should be admitted on the government level and to become legal, after that banks will gladly accept them in their activity. I do not believe that banks, are against of cryptos, as many users say here, I believe they are simply waiting for the green light from the government to start the usage.

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Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

You cannot really expect that banks will overthrow their own monopoly if anything a coin created by a bank will be even more oppressive than the system we have now, one of the great advantages of bitcoin is that you get to be your own bank and you decide exactly what you want to do with your money but a bank which controls their own crypto will have an even bigger control over your finances, if we let the banks take over this technology they could make slaves of every single human being and we cannot allow that.

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Protocol has to do with the principles of doing a thing and since bitcoin will be a new feature in the banking system definitely the must be a way of carrying out it transactions just like the cash transaction require method so will bitcoin if introduced into the banking sector.

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Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

I feel clear that there will be a difference that will be made by the bank, because from the system side it is used is very different but even if it will be handled by the bank, maybe Bitcoin will be treated like the sale of currency only. indeed it is better that it is a separate and different form of Bank from an existing Bank

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Quote from: den50 on December 30, 2018, 09:31:50 AM

If Bitcoins were introduced in banks, there'd be probably a different protocol made by banks if I'm correct? What would it be like?

if indeed bitcoin was introduced by the bank in my opinion it would be a very different thing at that time, most likely the bank would still implement the same usage provisions such as the customer's bank account itself, fees and various authorities that made it difficult for customers

detector

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They are complety different things and can't be compare each other.

First, crypto is decentralized currency while bank is not
Second, crypto is an asset just like gold but it's has advantage like fiat
Third, when bank created crypto, they are creating their own coin and the story about crypto will completely different with today !

maldini

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Quote from: OmegaStarScream on December 30, 2018, 10:16:12 AM

Something very similar to the current banking system where there is no anonymity and decentralization and from the coins that we currently have, I think Ripple fits the description.

right, I think the crypto system is still in conflict with banks, maybe only ripple still has hope to be in line with banking

ecnalubma

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Banks has their own choice on what technology will they apply in their systems but I’m pretty sure that its not Bitcoin. Banks will not turn change from being centralised they prefer this system to take control of peoples money and ripple is the perfect product for them.

Topic: Bitcoin & Banks - page 2. (Read 1583 times)