Does the bank glad to support cryptocurrency trade?

Maricel2017

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Quote from: fauzan Ichsan on April 09, 2018, 09:21:37 PM

Quote from: catok broek on April 06, 2018, 04:32:59 PM

Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

I don't really understand the question of this topic.
actually I don't see banks need to anything in supporting cryptos.
where do crypto users refund their assets ??! Bank..
where do crypto exchanges save their fund ??! Bank..
glad or not, Banks take benefits on crypto.

or do I miss anything ??

if my opinion is not supporting but providing service, because like local exchanger in my country provide fiat money exchange service, and has been approved as company from government. because cryptocurrency is prohibited in my country for transactions

I think that is why many banks not supports decentralized currency because they are scared holding not cash transaction they cant regulate it because even government does not know how to handle this kind of currency and worst is some government already banned this digital currency or crypto. Luckily i am belongs to the government who are pursuing to make have regulation about crpto because they see the potential that this currency may help our economy.

olia10

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Recently, the impression is growing stronger that large banks want to destroy crypto-currencies. At least this impression is formed by listening to the speeches of many well-known bankers.

fauzan Ichsan

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Quote from: catok broek on April 06, 2018, 04:32:59 PM

Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

I don't really understand the question of this topic.
actually I don't see banks need to anything in supporting cryptos.
where do crypto users refund their assets ??! Bank..
where do crypto exchanges save their fund ??! Bank..
glad or not, Banks take benefits on crypto.

or do I miss anything ??

if my opinion is not supporting but providing service, because like local exchanger in my country provide fiat money exchange service, and has been approved as company from government. because cryptocurrency is prohibited in my country for transactions

Kevin77

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Quote from: usorin on April 02, 2018, 05:02:42 AM

Well once crypto goes to the banks then the dream of Mister Satoshi will end. Since crypto was included in the G20 topic, the alternative money become a real threat to banks so as usual they will do anything to control the marketing.

Maybe you did not follow the G20 meeting. Cryptocurrency during the meeting was not even classified as a threat in anyway and the last thing that can be done is just to regulate the space. Also, controlling is something they cannot achieve, unless you are trying to refer to regulations, but as far as I am concerned, only your activities are monitored, it still remains a decentralized environment and that makes it uncontrollable.

Adopting new technology like blockchain should not be a problem for banks as it is already obvious they do not see cryptocurrency as threat and the only thing that is needed is regulation which would even help us all to move forward. Banks do not need to use crypto, they can only serve as an exchange medium in the long run for those who may need to convert to fiat, whichever way; they are still making money.

catok broek

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Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

I don't really understand the question of this topic.
actually I don't see banks need to anything in supporting cryptos.
where do crypto users refund their assets ??! Bank..
where do crypto exchanges save their fund ??! Bank..
glad or not, Banks take benefits on crypto.

or do I miss anything ??

BitSat

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I sure Banks will never allow this at all because its completely against the Banks rules and can ruined them very badly main problem is crypto never been recognize from where its coming and have no restrictions but banks need some more details about this even in wire transaction they have complete data of sender and receiver but in crypto its not going to work for them There is no doubt that this can be solved as long as both the parties agree on the rules. This cant happen as exchangers are devoid of the rules

MMA

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Quote from: Fuhre on April 02, 2018, 04:50:26 AM

in 2017 bitcoin recorded a record that became a hot potato around the world, so its phenomenal bitcoin until the banks and the government intervened. we all know that banks will never support bitcoin, because bitcoin offers such an easy system. a strong reason why governments and banks ban bitcoin, because they claim that bitcoin is not a valid means of exchange or means of payment to use. so, in my opinion until whenever the bank will never support virtual / digital currency like bitcoin. in fact there are still many reasons for this ban.

I do not think that banks will ever like to adopt bitcoin or to support it, because bitcoin can make the banking system useless. Therefore i do not think that they will ever like to support bitcoin, but they have to accept the fact that bitcoin is the new emerging crytpo currency of the world and will very soon spread throughout the world and all the people of the world will very soon start using bitcoin for everything for which they are using fiat in current time.

Severniti

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Banks want their cut and people are doing the transactions around the bank. They will need to do something or even get in the crypto somehow and not just to expect the government to take action in their favor.

el kaka22

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Quote from: wantjokull on April 02, 2018, 01:48:23 AM

Banks will never support the crypto currency trades and neither they are approaching that way toward them. The wire transfer is completely different thing and that gets separated with the membrane of decentralisation and centralisation.

Regulation may change a lot of things though. We already have exchanges and they are serving as banks in most countries, at least in mine, I have Luno and it has been pretty effective, I believe in the long run, with regulation, most banks may come up with their own exchange platform. As long as they are gaining from it, you think they will just keep a blind eye to it? No way.

Quote from: CrystalWu on April 02, 2018, 03:41:36 AM

in these few days I think most of the bank will not be friendly with these cryptocurrency，but as time goes by，they have to accept them and adjust them。

And why is that? Who even need them to be friendly anyway as it is not like we have not been doing well without them. Banks will not end up seeing cryptocurrency as threat in the long run, and with the issue of conversion to fiat, I see banks also filling those gaps in the long run. There is a great benefit for them and as long as there is regulation in play, and they are given the license, why not?

Digital_Lord

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Quote from: denbagoes on April 03, 2018, 03:30:43 AM

If they investigate more about what advantages there are in the crypto then surely they can agree on. This may be subject to their respective policies in the country.

They knew already. They are well known of every aspect of bitcoins that what they are offering and how they can affect the combined market where banks are working too. Clients are the main focus of such banks which are already working on the competitors. So better for banks is to organize their policies and methods such that bitcoins can be accompanied easily and efficiently.

richardsNY

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Quote from: waqasniaz007 on April 03, 2018, 12:22:47 PM

The Zurich-based bank already offers crypto-asset management solutions which allow the purchase, trade, and holding of Bitcoin.

Which bank exactly? I can't believe that financial institutions do that, so it has to be through a lower but seperate division of the bank. Goldman Sachs did so too for their clients, and various other major banks as well, so it's nothing really new. The regulatory framework doesn't yet allow them to get involved in crypto directly, so these 'proxies' are the only alternative for them. I don't know how long it will take before this becomes reality, but governments aren't that motivated to allow financial institutions to enter this market that easily, even not in a well develop country as Japan, and everyone by now knows their status in crypto terms.

waqasniaz007

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The Zurich-based bank already offers crypto-asset management solutions which allow the purchase, trade, and holding of Bitcoin.

Hendralam18

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Happy or not, The Bank must adopt cryptocurrency exchange or they will be left behind, the technology never wait us to changes, if the bank adopt cryptocurrency they will get the fees from exchange Bitcoin or any alternate cryptocurrency. This the new finance technology, for all human kind, for our freedom, for our prosperity.

Falmera

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Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

I think banks will fear crypto currency. It is because if crypto will be used by many, it might make them close because there will be lesser people to invest in their bank. It is more secure and safe than their system. And also their transactions might take a longer time than that of crypto currency.

Jonsnowstark

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I dont think so. Banks are centralized. They hate cryptocurrency because it is decentralized. It cannot be controlled. They're against bitcoin and say that bitcoin is used for illegal activities because they think bitcoin is taking away the business that is helping them grow. As you can see with wire transfer, banks makes money out of every transaction and it usually takes to long to be confirmed. With cryptocurrency, its automatic. You dont have to wait long lines to transfer money oversease. That's why banks will never support cryptocurrency.

Anakcikal

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if I do not think all banks support cryptocurrency because for them cryptocurrency is a threat because they are not everyone believes anymore and in the digital world, the ambition of bitcoin and other cyrptocurrency to become the single currency in the world is brilliant: make the transaction process very easy, super efficient, and can negate the transaction costs that are often imposed by conventional banks.

Ewinsane

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Quote from: naidray on April 03, 2018, 08:36:20 AM

Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

You’re confusing some people, according to your headline the question was if the bank will gladly support Bitcoin, now you’re asking why many exchanges does not support wire transfer (if not all).

Well, when it comes to bank supporting cryptocurrency, I don’t really know if that is possible in anyway cause they both have difference. Bitcoin is just an asset and it’s not something that is being held in bank, you can only get it from the right source – Blockchain. So bank can’t support Bitcoin, but they can support exchangers that are into Bitcoin, cause every money you use to buy Bitcoin is being sent to the exchangers bank account.

For the next question on why most exchanges does not accept wire transfers, well, why would they accept wire transfer anyway? This is a business that has to do with online and you will have to do withdraw to the right source first, which is your wallet, before talking about taking it to banks.

I really love the way you are explaining the things. But you helped me to understand the humiliating situation how banks or governments are facing. Still I expect governments to start thinking about adopting bitcoin for their people's day today life. I do believe in less than ten years we can see many countries will be adopting bitcoins as their official payment system.

naidray

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Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

You’re confusing some people, according to your headline the question was if the bank will gladly support Bitcoin, now you’re asking why many exchanges does not support wire transfer (if not all).

Well, when it comes to bank supporting cryptocurrency, I don’t really know if that is possible in anyway cause they both have difference. Bitcoin is just an asset and it’s not something that is being held in bank, you can only get it from the right source – Blockchain. So bank can’t support Bitcoin, but they can support exchangers that are into Bitcoin, cause every money you use to buy Bitcoin is being sent to the exchangers bank account.

For the next question on why most exchanges does not accept wire transfers, well, why would they accept wire transfer anyway? This is a business that has to do with online and you will have to do withdraw to the right source first, which is your wallet, before talking about taking it to banks.

lionheart89

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Quote from: Cathy1701 on April 01, 2018, 09:50:39 PM

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

yes many banks are not happy with cryptocurrency because cryptocurrency gives no benefit to the bank, cryptocurrency can not be controlled. cryptocurrency is decentralized so it is impossible for the bank to support it.

S4roZa

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Not all banks are happy and supportive with the existence of digital money / crypto money, for example in certain countries only banks support crypto money most countries forbid it when most people use the crypto money.

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