Bitcoin & the Banks | Bitcointalksearch.org

Sniper44

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Quote from: sandaq on September 12, 2016, 02:19:57 PM

I remember back in 1997 they used to say that about the Internet and treditional media. Not only did the Internet survived, every media station or news papar utilize the Internet for it's need. I belive this will be the case with bitcoin also.

Bitcoin - The Internet of money.

good point.
this is also why i have been saying banks will finally come to realize that they can not fight the advancement of technology and bitcoin. so they will eventually adopt it themselves.

sandaq

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I remember back in 1997 they used to say that about the Internet and treditional media. Not only did the Internet survived, every media station or news papar utilize the Internet for it's need. I belive this will be the case with bitcoin also.

Bitcoin - The Internet of money.

beerlover

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Quote from: talkbitcoin on September 12, 2016, 07:38:11 AM

Quote from: Rizky Aditya on September 12, 2016, 06:06:26 AM

Quote from: justspare on September 10, 2016, 05:59:47 PM

Quote from: PLATO on April 28, 2011, 08:46:18 PM

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

that is right because many people still fear bitcoin may be scam or some meaningless numbers on their screens and something like this can help it a lot.

but the problem with this, is that banks and bitcoin doesn't work well together. when you use bitcoin you don't need any bank you only need a wallet and you can be your own bank.

Jeez do you guys even know how much fees there is with the bitcoin atms right now?
It takes a good slash on your bitcoins wallet everytime you withdraw bitcoins from those ATMs. So right now, it's not really recommended and one of the reason that it's not yet very popular.

talkbitcoin

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Quote from: Rizky Aditya on September 12, 2016, 06:06:26 AM

Quote from: justspare on September 10, 2016, 05:59:47 PM

Quote from: PLATO on April 28, 2011, 08:46:18 PM

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

that is right because many people still fear bitcoin may be scam or some meaningless numbers on their screens and something like this can help it a lot.

but the problem with this, is that banks and bitcoin doesn't work well together. when you use bitcoin you don't need any bank you only need a wallet and you can be your own bank.

Rizky Aditya

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Quote from: justspare on September 10, 2016, 05:59:47 PM

Quote from: PLATO on April 28, 2011, 08:46:18 PM

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

iqlimasyadiqa

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Quote from: severaldetails on September 12, 2016, 05:16:38 AM

At the moment I see no option how to avoid banks.
Most public services do not accept bitcoins (in my country every public service).
And I don't think bitcoin was developed to replace the banking system.
Bitcoin is an online payment method for shops and private people, and a source of income for miners.

bitcoin is growing. today bitcoin has been gaining acceptance in large enterprise companies. while for me to enter the world of banks, bitcoin should be a matter of time. perhaps the decade ahead bitcoin has become a financial power.

Noctis Connor

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Quote from: PLATO on April 28, 2011, 08:46:18 PM

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well atm bitcoin machine are not yet available here in my country we always togo store to buy bitcoin currency and its all free no fee it easy to buy bitcoin in store than human because sometimes you will be scammed or something and its too risky to buy bitcoin from human

severaldetails

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At the moment I see no option how to avoid banks.
Most public services do not accept bitcoins (in my country every public service).
And I don't think bitcoin was developed to replace the banking system.
Bitcoin is an online payment method for shops and private people, and a source of income for miners.

Universat

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Quote from: Sponsoredby15 on September 11, 2016, 07:10:50 AM

If you ask what would I choose bitcoin or bank for me it should be bitcoin because bitcoin grows value time by time so if your money is small you can get your money big if the value if bitcoin increase. Also it is easy to create bitcoin wallet than creating bank accounts too many requirements needed. You can check also to your phone. So it is safe.

but i think we cannot depend on bitcoin only. in present time as we most depend on banks the salary we receive through banks we pay utility bills using banks we do admission in colleges and universities using banks so the importance of banks cannot be ignore therefore i think we need both bitcoin, and banks for fiat currency.

danherbias07

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Quote from: ethereumhunter on September 11, 2016, 08:01:58 AM

i think bitcoin will not compete with the bank, but it will help bank to integrate with crypto currency and will be bridge between bank, internet, and people and could reach more people to make transaction using bitcoin.

but maybe this plan will be apply after the bank read about bitcoin technology and make some research about how to integrate it with bitcoin. i think it will need some time before this could be apply.

The combination of this two will really give a big impact to many people. Imagine a high percentage of bank trustees also enjoying bitcoin. That could be a big blast.

ethereumhunter

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i think bitcoin will not compete with the bank, but it will help bank to integrate with crypto currency and will be bridge between bank, internet, and people and could reach more people to make transaction using bitcoin.

but maybe this plan will be apply after the bank read about bitcoin technology and make some research about how to integrate it with bitcoin. i think it will need some time before this could be apply.

Drago2016

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Quote from: stevo401 on September 11, 2016, 03:59:00 AM

here in Australia, some of the big banks are actually working on ways that they can use the basis of BTC to develop their own private blockchain system. There's an interesting article about it at http://www.afr.com/technology/anz-backs-private-blockchain-but-wont-go-public-20160629-gpuf9z

For me though, I feel that running the blockchain through a major bank takes away a lot of the privacy associated with crypto currency though, so I'll stick to BTC myself!

Perhaps Australia is one of the first countries that come up with the times. Cryptocurrency they recognize, if not recognized and allowed to complete the course. But the banks can only connect to this action, although it seems to me that this was their initiative.

Sponsoredby15

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If you ask what would I choose bitcoin or bank for me it should be bitcoin because bitcoin grows value time by time so if your money is small you can get your money big if the value if bitcoin increase. Also it is easy to create bitcoin wallet than creating bank accounts too many requirements needed. You can check also to your phone. So it is safe.

Rastaman2016

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Asked about the choice of a bank or a bitcoin, you can say yes, it's all different things and share them too it is impossible. Virtual finance and real even cashless still very linked. But there will also be one without the other is not.

stevo401

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here in Australia, some of the big banks are actually working on ways that they can use the basis of BTC to develop their own private blockchain system. There's an interesting article about it at http://www.afr.com/technology/anz-backs-private-blockchain-but-wont-go-public-20160629-gpuf9z

For me though, I feel that running the blockchain through a major bank takes away a lot of the privacy associated with crypto currency though, so I'll stick to BTC myself!

shinratensei_

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Quote

That means that the benefit of bitcoin, ie. not having to go through 3rd parties, needs to be realised.

But about your sentences, if that is referred into bitcoin? I don't think we can realise it, we always need the through of 3rd parties, and like someone is always need the another person in their life, but that is in my personally.

Harlot

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Hey Op I don't think you need Banks to convert your BTC to Fiat Money, Yes it is one of the ways (through bank deposit) but it is not the only way. I am using a local btc wallet here in my country and they have a 2 in 1 Wallet for my BTC and my local currency in which I can convert it anytime of the day. They also have options aside from bank deposits are door-door delivery, and Western Union Pick Up to name a few. So Bitcoin will work even though without a support of any bank, btc wallets are run by real companies too.

xuan87

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i think bitcoin and bank its two things that cant be mixed together, bank is centralize, it is controlled by government while bitcoin is decentralize which is control by the users, and i doubt bank will adapt bitcoin system because bitcoin main feature is anonymity and able to generate address as much as we want, and the bank will never accept this kind of things

DaddyMonsi

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Quote from: xavier on April 28, 2011, 05:47:05 PM

Banks will not be happy about Bitcoin, due to the fact it competes with them.

Bitcoin is not a competitor of Banks. Both have different target markets. Both have their own characteristic's. Each have their own down sides. Each have their own advantages. But its good to have both of them if you have enough money to store in Bitcoin wallet or Banks.

Doamader

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Quote from: prabowo96 on September 10, 2016, 04:18:11 PM

Banks will start they own altcoin, will make all users eat their shit like they always do.

The other side of the coin is: Bitcoin price will increase and others alts too because more people will know about how it works.

Well i really doubt they will make their own crypto coin, if they make they need to give something to their investors, some reward as the size of coins hold by each one, otherwise makes no sense to invest into something we know it will be controlled by bank, and maybe the altcoin wont change, with several restrictions as can be purchased only at bank and sold as well.

Topic: Bitcoin & the Banks (Read 5592 times)