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 at any time bitcoin is applied in the banking system then it will certainly make a big change. bitcoin can become a pioneer and then be followed by other altcoins. it took a very long time to be able to implement this because if the digital currency wanted to be implemented then there must be full support from the government for the digital currency. Bitcoin can provide variations in the financial system and in my opinion this is a future that will be much safer and have a very high level of flexibility. . 
Topic: Bitcoin & Banks - page 5. (Read 1588 times)
If the banks will use Bitcoin, then they should use the Bitcoin protocol unchanged. For centralization, there is XRP.
I understand what your trying to say . yes both of them are different though people still thinks that bank and bitcoin are the same because bitcoin can be store of value and it can be used as an invesment simillar to what they hear on the traditional banks but for me , both are actually different because bitcoin is commonly known as a curency while banks are a company that produces money .
Banks are not supposed to "produce" money, but the sad truth is that they do, out of thin air! The way modern banks work is pretty similar to a ponzi scheme, its called Fractional Reserve Banking something that would be illegal (and it was until the 20th century) but the banks bought their way thru legislation and its perfectly ok to play roulette with the savings of people...
But people are seriously misled into thinking banks store money (they don't), or that their fiat money is backed into something (its not).
The scheme will hold as long as a sum above the fractional reserve is now withdraw at the same time (see?, just like any other scheme).
So if the bank keeps 10% of the money, that's its limit before going bankrupt. But before that happens, Central Banks to the rescue. Now that 10% would need to be nationwide withdraw, to bankrupt the central bank, but World Bank to the rescue! now in the world 10% needs to be withdraw to bankrupt the entire system... (actually the fraction is different on every country).
If only more people knew about fractional reserve banking... Debt based economies (school of chicago) would crash. Stop trusting banks!
Introducing bitcoins to banks is a good thought as bitcoins and blockchain technology can make the banking transactions easy all over the world and the customers will be able to enjoy complete freedom of their finances and there will be corruption free land as the transactions are recorded on the blockchain technology and no individual has right to make any changes in the blockchain network.
I just think that, a particular software and programming will be created for banks that will link both the bank and bitcon together that will actually easy deposits and withdraw.
Is Bank accept Bitcoin as a part of their circulation then Bitcoin will be played on most important role for banks in changing the economic that's why banks need help for Bitcoin but it is not happen in today situation if the time except the future will be definitely it's happen
I just think that, a particular software and programming will be created for banks that will link both the bank and bitcon together that will actually easy deposits and withdraw.
banks can adopt BTC. but BTC cannot adopt the Bank. In my opinion. the bank will provide special system services such as electronic money. and some banks have provided that service. now we just wait for the BTC adopted by the bank by legally.
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?
Its hard to figure out if we will introduce bitcoin in banks because we all know that some banks are against in cryptocurrencies especially bitcoin. If ever bank accept bitcoin how they can handle its price especially it is volatile where always change. Do you think it is possible to bank that allow bitcoin? and How can they manage it? bitcoin and banks in my opinion have no connection whatsoever as they do not operate on the same framework, the technology behind banking is just consisting of database and could be altered but that of blockchain is entirely different and is higher than that of banks
I understand what your trying to say . yes both of them are different though people still thinks that bank and bitcoin are the same because bitcoin can be store of value and it can be used as an invesment simillar to what they hear on the traditional banks but for me , both are actually different because bitcoin is commonly known as a curency while banks are a company that produces money .
bitcoin is decentralized in nature, while banks are centralized in nature
Yes, this is possible, but blockchain users will undergo mandatory verification. I think this bank coin could be very popular.
that would definitely kill anonymity and decentralization of Bitcoin.
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?
Tough to get to know how they will manage but for now they been infusing it in their investment side of the business. As a payment for service it will or exchange but as a primary means of trading it will be in the distant future.
bitcoin and banks in my opinion have no connection whatsoever as they do not operate on the same framework, the technology behind banking is just consisting of database and could be altered but that of blockchain is entirely different and is higher than that of banks
This is about right, but banks could theoretically accept decentralized cryptocurrencies as well and act like exchange websites do nowadays. When and if the market stabilized in general and price fluctuations become less serious, nothing prevents some bank from buying a reserve of bitcoins, letting people buy, sell, exchange and hold this crypto on their bank account. Most of the banks are not in control of the fiat they are dealing with anyway.
Exchanges is exactly what I think banks will morph into in a future world where cryptocurrencies are the norm and not the exception. But we are in a transition period where there is still heavy fiat usage, and they can make a lot of money doing the exchanging. Afterwards i'm not sure, lending? margin trading? more finance oriented i guess. Bitcoin renders obsolete the need for bank accounts, unless its some sort of investment portfolio you want others to manage for you. Trust a third party to keep the coins for you? Well that's exactly what exchanges are doing.
Ripple appears to be the bankers coin but most will probably create their own coin. Banks will do whatever it takes to keep bitcoin away from the local or global economy.
This is about right, but banks could theoretically accept decentralized cryptocurrencies as well and act like exchange websites do nowadays.
But then they would not be functioning as banks, but small an exchange which is managed by a bank. This is one of the reason I prefer decentralized exchanges as it can not be controlled or regulated by gov'ts or banks.
Banks could of course adopt the blockchain model so as to exert a level of influence over this technology.
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?
It wouldn't be open, borderless, censorship-resistant, etc. Banks like the fact that bitcoin and similar protocols take settlement time down from days/weeks to minutes/seconds. Bitcoin also removes a lot of the systemic risk that is baked into ordinary transactions, like counter-party risk. But they're still banks, they don't want you looking into their finances, so you can bet their systems will be locked down for only a few people to use. Banks like "blockchain", not bitcoin.
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.
This is about right, but banks could theoretically accept decentralized cryptocurrencies as well and act like exchange websites do nowadays. When and if the market stabilized in general and price fluctuations become less serious, nothing prevents some bank from buying a reserve of bitcoins, letting people buy, sell, exchange and hold this crypto on their bank account. Most of the banks are not in control of the fiat they are dealing with anyway. They just trust the regulator that the currency will be stable. If the market developed a good self-regulating mechanism, they could actually go for crypto adoption to attract more users.
As far as I know, the bitcoin Protocol cannot be changed. Perhaps it can be improved, but the Bank will not be able to do it. Only the developer. Sorry if I'm wrong, but I think banks don't need bitcoin, just like bitcoins don't need banks.
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