Bitcoins joins the bank | Bitcointalksearch.org

Chesuta123100

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Quote from: Flickkk on May 16, 2020, 07:06:05 PM

I guess they can't really beat Bitcoin.
Just saw on Reddit where
An old article states dated September 13,2017

"bitcoin is a fraud that will blow up, says JP Morgan Boss"

And now May 12,2020
"JP Morgan Extends Banking services to bitcoin exchanges"

I guess if you can't beat 'em join 'em.

So i guess as my opinion on bitcoin future will be stable and no coin will take over it.

So whats your insight about this news? What will happen in bitcoin ?

well I agree on your opinion , It'll be stable since cryptocurrencies and banks can go together. They are compatible because they have something in common, they both have ways to handle money.

Bes19

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We have one bank here that put bitcoin atm's on every branch of their banks.
It is a good thing coz adoption is real.
I just hope every country would see the good deal about bitcoin and make them legal in anyway.

anoufal

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Cryptocurrencies and banks are incompatible things. Absolutely incompatible. You should understand that the philosophy of crypto is completely different from the modern financial system.

n0ne

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Bitcoin usage keep on increasing with time, and in recent days pandemic there is more and more usage of digital payments. Many firms around the globe has partnered with banks to support bitcoin transactions. Banks are the back bone of a country, being centralized makes it control the common man's fund. Bitcoin usage eliminates it, and people have control over their own funds.

Chesuta123100

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Quote from: tbone777 on May 17, 2020, 07:50:45 AM

Banking will be changed due to crypto. In some countries they are already working with it. Soon we will see greater adoption in the EU

Yeah heard Switzerland gets another ‘Bitcoin bank’ that holds cryptocurrency for customers. " SEBA " says it’s trying to bridge the gap between traditional and digital assets, whilst maintaining high levels of security. At the moment, the bank supports five cryptocurrencies: Bitcoin, $BTC▲4.15% Ethereum, Stellar, Litecoin, and Ethereum Classic.

GarenCoiner

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Quote from: anoufal on July 21, 2020, 09:47:15 AM

Cryptocurrencies and banks are incompatible things. Absolutely incompatible. You should understand that the philosophy of crypto is completely different from the modern financial system.

I totally agree
banks and crypto are not compatible, both made for the same purposes, trading and investing or savings but each can handle it in a different way.

maybe some crypto coins trying to be near to fiat money to attract people out of the crypto world showing their coin stability but crypto wasn't made for stability.

simply people with a lot of fiat money are against the crypto because they couldn't invest earlier and earn from the bitcoin massive jump or simply have no idea about crypto.

Debonaire217

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Quote from: seoincorporation on July 21, 2020, 10:57:00 AM

Quote from: anoufal on July 21, 2020, 09:47:15 AM

Cryptocurrencies and banks are incompatible things. Absolutely incompatible. You should understand that the philosophy of crypto is completely different from the modern financial system.

They are compatible because they have something in common... Both are a way to handle money, and sometimes we want to hold our cash on cryptos and some times we want it on dlls, if we want the money and not the cryptos banks are the easy way to withdraw.

When most whitepaper says "peer to peer transactions" or like "no third party needed" it doesn't mean we cannot connect banks and crypto, right now, there are regulations established by the government that allows cryptocurrency to be used and regulated. Just like what we have here in the Philippines, our local exchange Coins.ph is could be used to connect your account to your bank accounts. Meaning to say that you can directly buy bitcoin from your fiat funds. Wouldn't it be better if other exchange will have this feature? Instead of us separating crypto, we use both because in the end, it will be us that will benefit from these emerging technologies.

bitbunnny

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Quote from: seoincorporation on July 21, 2020, 10:57:00 AM

Quote from: anoufal on July 21, 2020, 09:47:15 AM

Cryptocurrencies and banks are incompatible things. Absolutely incompatible. You should understand that the philosophy of crypto is completely different from the modern financial system.

They are compatible because they have something in common... Both are a way to handle money, and sometimes we want to hold our cash on cryptos and some times we want it on dlls, if we want the money and not the cryptos banks are the easy way to withdraw.

I agree, cryptocurrencies and banks can go together. Some crypto users are too rigid and don't want to see that there are not so many differences between fiat money and cryptocurrencies. Yes, they are functioning different way, have some different principles but at the end of the day its about value they have and how it could be used in real world. That is why are banks interested in crypto and they are willing to adjust their business to be more compliant with cryptocurrencies.

seoincorporation

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Quote from: anoufal on July 21, 2020, 09:47:15 AM

Cryptocurrencies and banks are incompatible things. Absolutely incompatible. You should understand that the philosophy of crypto is completely different from the modern financial system.

They are compatible because they have something in common... Both are a way to handle money, and sometimes we want to hold our cash on cryptos and some times we want it on dlls, if we want the money and not the cryptos banks are the easy way to withdraw.

lepbagong

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Quote from: Wawa2013 on July 19, 2020, 06:17:17 PM

I prefer to say that the Bank joins Bitcoin, the fact is that Bitcoin does not need a Bank to develop. Proven from being created
many banks try to drop Bitcoin, but now many banks joins Bitcoin. Because banks have begun to realize that Bitcoin cannot be
stopped, continues to grow and become more popular nowadays.

true, with such a progression, banks need to be able to accept bitcoin, not the other way around. because after all bitcoin can run by itself does not need the support of banks, but banks really need bitcoin because he sees that if you register bitcoin will certainly benefit from each transaction.

bitcoin has developed more without anyone's help because it's clearly a far different platform.
but many are looking for profits from any of what is made to smooth the bitcoin transactions, it is natural because they see the preospect from quite a lot of bitcoin enthusiasts.

bitterguy28

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Quote from: Wawa2013 on July 19, 2020, 06:17:17 PM

I prefer to say that the Bank joins Bitcoin, the fact is that Bitcoin does not need a Bank to develop. Proven from being created
many banks try to drop Bitcoin, but now many banks joins Bitcoin. Because banks have begun to realize that Bitcoin cannot be
stopped, continues to grow and become more popular nowadays.

Bitcoin has a lot of popularity already. It is known all over the world. Yes, you are right that banks are understanding that bitcoin is unstoppable. So at this moment, they are accepting bitcoin. It is really a get era of bitcoin.

Bitcoin is already gaining from mainstream and with that banks are seeing it and wanted to take some slice of benefits, they are now allowing things to

happen unlike before where we seen a lots of negativities coming from this banksters, bitcoin is proceeding to more success and bringing this opportunities

to everyone, adoptions will be more successful in coming years.

Sanugarid

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Quote from: Negotiation on July 17, 2020, 08:35:52 AM

No bank will ever accept any currency without commission From now on they take an interest at a reasonable rate Fiat takes commissions from now on due to currency centralization but in the case of Bitcoin it is never possible.

It is possible if you let the bank take care of your bitcoin with insurance and this might be the most likely to happen with mass adoption for bitcoin. If banks would dare to get into bitcoin, they will take the risk to do so giving their full accountability in exchange for trust with the cryptocurrencies. Commissions on bitcoin will be high that's for sure given banks will risk a huge part of them just to get long with the trend, besides if it clicks massively they will get a huge profit out of it. Just in case it happens Lips sealed

Quote from: Negotiation on July 17, 2020, 08:35:52 AM

If the banks can't provide Bitcoin security then no one will deposit and the demand of the banks will decrease Without adequate facilities the exchange will become much more difficult.

Security in terms of technology, there is no more secure facility of money in the online but only crypto, what's not secure is the 3rd party services. I think bank will also run after the blockchain, they might introduce a new technology, an innovative blockchain, how is that for the security?

Wawa2013

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I prefer to say that the Bank joins Bitcoin, the fact is that Bitcoin does not need a Bank to develop. Proven from being created
many banks try to drop Bitcoin, but now many banks joins Bitcoin. Because banks have begun to realize that Bitcoin cannot be
stopped, continues to grow and become more popular nowadays.

7788bitcoin

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Quote from: fullhdpixel on July 17, 2020, 10:31:17 AM

I used to wonder what will happen to banks, a lot of people have said that they will disappear because of Bitcoin, but I don’t really think so. I think whatever happens, these banks will still be here, rather they will upgrade to a level that is more advanced and be able to extra features and services to their customers in a way that they can fit in with the new changes.

People who dream about the banking system disappearing are dreaming as they have no idea about the financial structure, as you mentioned lending is one of the major service provided by banks and you cannot expect it from a decentralized market Grin

. The positive note is that if these banking institutions use the blockchain technology then we will have more transparency and we might see them implement that in the future.

Quote from: fullhdpixel on July 17, 2020, 10:31:17 AM

I am sure decentralized bitcoin banks will serve people with possible collateral and all other required things. A bitcoin wallet itself a banking client but it is missing with lending functionality alone Grin

.

It is not a viable business venture to have a decentralized bank. We have seen many lending business but we know that many have closed their doors.

Zionatin

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I don't understand that guy. Huh

Isn't he supposed to be very clever or something? Yet he constantly contradicts himself? I don't understand how someone can do that. Even if he has no alternative agenda it is still wierd. I guess he is just a weird guy. Maybe he just likes money too much and will take it any way it comes. Still calling out that something is a fraud then using it financially...

I think banks have no choice but to deal with crypto. Banks will be extinct and I think some of them know it. I think in 50 years time banks as we know them will be almost gone. Why use goverment issues currency when you could use others that would give you interest and things like that? Government issued currency is not on your side.

20kevin20

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Quote from: fullhdpixel on July 17, 2020, 10:31:17 AM

In some ways we are always going to be in need of banks. I know some of us can stay without banks, but majority of us cannot do that, so there will always be a need for them in some ways.

I can translate that to "In some ways we are always going to be slaves". We don't need banks. Banks need us.

Quote from: fullhdpixel on July 17, 2020, 10:31:17 AM

In near future, I am sure decentralized bitcoin banks will serve people with possible collateral and all other required things. A bitcoin wallet itself a banking client but it is missing with lending functionality alone Grin

.

Bitcoin banks? Never. Maybe a "crypto bank" that promotes a centralized currency, but Bitcoin will never be agreed. Banks will never step forward and lose their power, not even partially. If we all were to stick together move completely from banks to crypto, we'd easily get them all into bankruptcy.

What banks can do and Bitcoin can't is control and seize your assets.

MarioV

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Bitcoin has already entered the banks' availabilities. You can see my article written some time ago:

https://www.publish0x.com/cryptouniverse/the-first-bank-that-offers-bitcoins-is-italian-xolgzxd

The first bank is Italian, but there are/will be many others in Switzerland and Germany.
If they can earn the banks sell any type of asset.

klavyemaus52

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I don't think bitcoin can beat banks yet. Because governments are not interested with bitcoin yet. They just can't control it.
But they can easily control banks. So maybe we can see in our dreams bitcoin beats banks..

ufaiz50

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Quote from: Flickkk on May 16, 2020, 07:06:05 PM

So i guess as my opinion on bitcoin future will be stable and no coin will take over it.

So whats your insight about this news? What will happen in bitcoin ?

I don't think bitcoin will be stable, because we have to look at the amount of bitcoin and the impact of the demand that will occur. I'm also not sure banks will do that, instead I think that banks will be more fortunate to implement blockchain technology and make coin fiat, and this makes more sense to my mind. Banks are approaching bitcoin at this time so as not to appear evil when implementing the technology into their systems. Bitcoin is decentral and it is detrimental because many people will play around on the value of bitcoin if banks join bitcoin.

Rana590

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Quote from: Negotiation on July 17, 2020, 08:35:52 AM

No bank will ever accept any currency without commission From now on they take an interest at a reasonable rate Fiat takes commissions from now on due to currency centralization but in the case of Bitcoin it is never possible. If the banks can't provide Bitcoin security then no one will deposit and the demand of the banks will decrease Without adequate facilities the exchange will become much more difficult.

In this modern world, anything is possible. So try to avoid overconfidence. Though Bitcoin is a decentralized coin, may be something new is coming to get accepted on bank. We should wait some more time to complete the process.

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