Dear banks, it's not about blockchain technology - page 2.

zimmah

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Quote from: TeamButtcoin on October 11, 2015, 03:51:33 PM

blockchain is literally a buzzword like 'cloud' that people use to sucker money away from CEOs who read shitty magazines, no one will ever seriously use a blockchain, with or without bit coins

you'd be surprised.

banks are most likely seriously looking into ways to use blockchain technology for their own benefit, however it won't do them much good because the strength of the blockchain is in the decentralized nature. Centralizing it defeats the purpose.

SwagGirl

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GetClams.com

For us ita about decentralization. For the banks they are trying to save money and understand decentralization. They want to get ahead of the curve. For example KODAK used to be a FILM company, now they are a CAMERA company.

The banks are trying to stay ahead of the the curve. They dont give a damn about bitcoin.

TeamButtcoin

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blockchain is literally a buzzword like 'cloud' that people use to sucker money away from CEOs who read shitty magazines, no one will ever seriously use a blockchain, with or without bit coins

mallard

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Quote from: kingcolex on October 10, 2015, 02:48:54 AM

2% of the population

Do you really think that there's 160 million Bitcoin users?

Preen

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The problem with banks is the same problem as governments. They have long had a strangle hold on money. They control each and every aspect of it.

Suddenly, the notion of blockchain takes away some of their power, and its baffling to them because they will always want centralized control.

Ironically, they have no way of really doing something public without exposing how much manipulation they need to achieve what they want.

coinplus

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Banks will understand slowly that bitcoin itself offers a banking system to people.
Even every country has their own fiat, Gold alone acts as a world wide accepted medium of exchange. Same way even every government or bank creates their own crypto-currency, only bitcoin can act as a inter-medium for both exchanging as well as value reference.
Then people will slowly realize what is the need of a new coin which needs bitcoin to get it's own value.

VirosaGITS

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Quote from: pereira4 on October 10, 2015, 07:37:29 PM

The good news on banks focusing on this crap is that they are putting their energy into a dead end, so in the meantime you can focus on obtaining cheaper Bitcoins. If all the banks jumped on the Bitcoin blockchain the price would raise too much. It's actually a good thing to have a low price for people like us that don't have that many BTC so we can stack them properly.

Its not a deadend. Its blockchain technology in a sense that's absolutely not related to Bitcoin. You can rest easy, banks have no interest in jumping on BTC, they live on FIAT. The blockchain technology however will be very yummy for them. Not that it will change much for customers for a long time.

pereira4

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The good news on banks focusing on this crap is that they are putting their energy into a dead end, so in the meantime you can focus on obtaining cheaper Bitcoins. If all the banks jumped on the Bitcoin blockchain the price would raise too much. It's actually a good thing to have a low price for people like us that don't have that many BTC so we can stack them properly.

Amph

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Quote from: p2pbucks on October 10, 2015, 06:16:53 AM

Quote from: Amph on October 10, 2015, 02:26:29 AM

i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

Comparing to the traditional database cluster , could blockchain make transaction faster ? I don't think so Roll Eyes

i guess proof of integrity is the only advantage then

http://bitcoin.stackexchange.com/questions/38711/is-a-private-blockchain-better-in-any-sense-than-a-database

randy8777

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Quote from: VirosaGITS on October 10, 2015, 01:06:51 PM

Quote from: btc_enigma on October 10, 2015, 11:30:14 AM

I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

They don't want an altcoin, they just want to use blockchain technology for storing ledger information, verification, archiving, authentication/validating signatures. An altcoin is pointless to them.

The Coin is just one possible application of this great technology.

a lot people think when banks say they are interested in the blockchain technology that banks are making their own coin. that's not the case as you also mentioned. the technology can work perfectly fine without the coin part.

VirosaGITS

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Quote from: btc_enigma on October 10, 2015, 11:30:14 AM

I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

They don't want an altcoin, they just want to use blockchain technology for storing ledger information, verification, archiving, authentication/validating signatures. An altcoin is pointless to them.

The Coin is just one possible application of this great technology.

btc_enigma

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I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

Kprawn

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I pulled out most of my money from banks, since I understood how they "recycle" money into "nothingness" .... A good example was when the Greek people went to the banks to

withdraw their money, during the last economic crisis. People were crying in front of closed doors and the banks felt nothing for them. They even told them, how much of their own

money they can withdraw daily. I think they will use the "Private" Blockchains to transfer money between different bank groups and the central bank. The current methods are too

expensive. Wink

....In phase two, they will develop a "private" Blockchain for customers.

n2004al

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Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Dear OP. No one ask or force you to send money to the bank. If you want to do this you send the money there and they give you profit. Small or big this is another question. But are you who choose the bank and not the bank you. The bank is an normal business which work with the money and make money. They don't control nothing (for more your money) if are not you in person who go to them and give those your money.

As about the application of blockchain from those this a sign that in those work the most intelligent people that have understand the potential of peer to peer and its application blockchain. Do not worry about this. This a very good sign for peer to peer and if it is good for peer to peer it is more good for bitcoin itself. I hope that their example be followed as soon as it will be possible from to many other businesses. This will be a big step ahead in the known of bitcoin and its potential by to many others.

Mickeyb

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Move On !!!!!!

Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Well you cannot really blame banks and banksters that they want to keep their control and control over our money (and our lives). After all, they were doing this for ages. I don't think they will give up this easily.

In the short-term these centralized, private blockchains will work for them, but not in a long-run. In the long-run they are toasted!

p2pbucks

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Evolution is the only way to survive

Quote from: Amph on October 10, 2015, 02:26:29 AM

i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

Comparing to the traditional database cluster , could blockchain make transaction faster ? I don't think so Roll Eyes

Denker

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Quote from: Hazir on October 09, 2015, 11:55:29 PM

Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Answer is simple - We can't. We are part of the current system when banks are ruling our lives, we can't do anything to fight back.
To destroy banks we would need to live similar to Amishes. But I think there is a way, but it is not simple or fast - just as now standard TV is losing audience due to internet, similar banks will lose clients in the future due to cryptocurrency.

So the way out of getting more and more controlled by banks is to use crytocurrencies like Bitcoin (decentralized,permissionless, borderless networks with embedded value tokens). We are the pioneers and early users of a possible future monetary system which will thrive and exist beside the old traditional dying system.

kingcolex

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Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

PS: Are you fucking stupid? Do you think the banks give any care about what we want? They are literally the scum of the earth and 2% of the population caring about bitcoin won't change a thing. If they allow some sort of party/frat rebate thing would be golden.

LiteCoinGuy

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In Satoshi I Trust

that was indeed a good slogan OP Cheesy

i would like to see the banks burn by the way Tongue

Amph

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i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

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