Topic: Bitcoin connected to our banks!!! - page 2. (Read 2079 times)
I think when bitcoin is allowed in all countries, there will be a new form of technology that will act as a bank for bitcoin holders. But i don't think the banks we have just now will be able to connect or be compatible with the blockchain technology of Bitcoin.
I think that every year more and more banks will be engaged in the storage of Bitcoin. I think that this will be a big step in the promotion of cryptocurrency. It sounds incredible but it can become a reality.
Firstly it's called bitcoin wallet and I don't think it's possible to transfer your money into bitcoin wallet WHY NOT JUST CONVERT YOUR MONEY IT INTO BITCOIN AND SAVE IT IN YOUR WALLET Secondly if bitcoin is in CO-OPERATION with the banking system this might make bitcoin lose its decentralized state which makes it unique from other currencies then the value of the bitcoin and cryptocurrency might be lost. Bitcoin would not be another currency in the hands of some bodies, organisation or countries.
In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?
Currenctly, its too far to tell that bitcoin or other crypto currency is connected to banks. Why?, because some banks are against to used bitcoin and others are willing to accept and collaborate for sure its depends on the country if they allowed to do it. For me if banks are allowed to transfer bitcoin to wallet and vice versa it is a way of transaction because these too institution are united to give us a good service.
In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?
I don't think so as they don't share common interest for now. Unless the whole financial thing shifted and have the means of making ways for their advantages. When you think technically about it yes it's plausible but when it comes to the leverage, banks won't give in.
Well, there are local banks that accepts dollar and euro accounts. In my imagination, banks with their native currencies plus major cryptocurrency like bitcoin why not but because of ultra volatility of bitcoin, I think it will not be easy for banks to do it. Any way there is a crypto exchange in my place that can convert your bitcoin and ethereum into local currency and send the equivalent to your bank account.
I think bitcoin should be kept away from such deals, I think ripple can fulfill that work easily, bitcoin simply has to serve as a method of payment and transfers and would not make any sense to add a functionality with PayPal and its archaic rules, we're here to avoid that kind of economic institutions and their control over us.
Bitcoin is not in a way connected to our banks.
But it's connected to our various banks whenever we started mentioning bitcoin or cryptocurrency in our transactions with the banks.
A case study of this has been happening in my country NIGERIA where by we have been seen some banks closing down some people's account on the fact that they're into bitcoin and this we know is as a result of mentioning bitcoin or crypto in there transactions.
But it's connected to our various banks whenever we started mentioning bitcoin or cryptocurrency in our transactions with the banks.
A case study of this has been happening in my country NIGERIA where by we have been seen some banks closing down some people's account on the fact that they're into bitcoin and this we know is as a result of mentioning bitcoin or crypto in there transactions.
Banks are working with Ripple already.
Yes, xRapid, a product of Ripple that is in the beta phase will take it to production this year. Ripple has partnered with Bittrex and banks Bitso and Coins.ph to carry out transactions with Mexican and Filipino workers respectively. xRapid Brings on Three New Exchange PartnersThe success of Ripple with its xRapid project will be an advance between our crypto-community and it will also be a good role model.
But the ones that concern us is the adoption of banks and bitcoin. I think it's only possible if the banks adopt the blockchain technology or that the economy starts accepting bitcoin as well.
That would be great news for everyone investing in bitcoin. But this scenario is still far from happening. Banks are starting to accept the cryptos, but without proper regulation, any move more directed to this market is just incipient.
Of course if it will be fully accepted by the government we'll lose our privacy somehow.
But I still believe we could use it without connection to that. Like we do right now.
But I still believe we could use it without connection to that. Like we do right now.
Well, bad really nothing.I would very much like to see this happen as soon as possible.But in fact, it is not soon to be realized.Especially given the current market situation.Do not understand what will happen tomorrow.We expected to see a completely different picture.If the situation does not change next year,then we can forget about it.
In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?
When Bitcoin is connected to the Bank, it is a very good thing, so the government can make a decision by legalizing bitcoin. We are all waiting for a moment like this. It is fitting that the Bank has a connection with Bitcoin and other digital currencies.
First of all,it will and must take long time to popularize bitcoin for broad masses of people.Something about it could develop only a majority of people have learned about bitcoin.Besides,corresponding equipment is indispensable.But all in all,I think it will be a good thing for both.
In my opinion. this will be a good step towards a digital economic era that can reach the entire world if every bank in all countries can connect or cooperate with crypto currencies. and this will make the economy in each country much more developed and make it easier for everyone to carry out economic activities such as trade and others.
Banks are just doing it for their sake, adoption of bitcoin will add more fees for them. Its like joining the business of your competitor, bitcoin has been a big threat for them so now they are dealing with it to be able to stay alive.
If bitcoin will be connected with the bank, the exchang will lose its function as a place for cryptocurrency trading. Another side, it will give us convenience to change crypto to fiat and fiat to crypto. Bank can replace position the exchange.
It will be a good thing for the bankers but not for us. They will have a way to control our money, we don't hold our bitcoins anymore if its on their side. This is why bitcoin gives us the full authority to hold our funds and became our own banks. If the banks will start to act between people and crypto's, it will not be the same as crypto anymore. The main purpose of crypto's will be forgotten, I wouldn't even going to try it if this will happen.
Banks are working with Ripple already.
yes, banks already work with Ripple but not with bitcoin yet. That's why I hate ripple, banks with bitcoin probably won't do much, I think because of possible 51% attack on bitcoin, that's why ripple is so damn closed shitty another bank system, from that shitty ripple you cannot even download a wallet or a node and they call it decentralized cryptocurrency, the only truly decentralized cryptocurrency atm is Bitcoin. maybe some others, but XRP definitely is not among them
Banks are working with Ripple already.
yes, banks already work with Ripple but not with bitcoin yet. Jump to: