Topic: How are you sure that Bitcoin will be operated in the bank in the future? - page 2. (Read 1787 times)
July 14, 2017, 11:10:43 AM
In Switzerland it is becoming a reality somehow. It is in the news that Falcon Group becomes the first Swiss Private Bank to offer XBT/BTC asset management. Financial Market Supervisory Authority (FINMA) had given Falcon Private Bank the approval, making the bank the first Swiss banking institution to offer Bitcoin. Here comes the wave, now many more banks would follow suit because bitcoin is gaining a popularity in financial landscape and banks can't afford to ignore it.
July 14, 2017, 10:57:08 AM
Banks will definitely develop their own blockchains, this is certain.Ripple is just the first of such. I expect most banking institutions to migrate to using blockchain tech as soon as possible. What banks will never own is the bitcoin blockchain. They can buy as many coins as possible though.
July 14, 2017, 10:52:24 AM
Bitcoin, as decentralized and anonymous crypto currency can't be operated in the banks, except if it is converted into fiat. Banking systems are different than crypto currencies, and require identity documents usually to open accounts and to make transactions, which isn't required when using Bitcoin and altcoins.
July 14, 2017, 10:36:44 AM
At the moment, it's not possible.
Central bank in my country issued statement about bitcoin and explained that bitcoin is not official currency or financial asset and can't be used for payments.
So, in order that any bank in my country accept bitcoin, first central bank should change opinion about bitcoin.
Since they have to follow EU financial regulations and central European bank directions, I don't see that something like this will happen in the near future.
Central bank in my country issued statement about bitcoin and explained that bitcoin is not official currency or financial asset and can't be used for payments.
So, in order that any bank in my country accept bitcoin, first central bank should change opinion about bitcoin.
Since they have to follow EU financial regulations and central European bank directions, I don't see that something like this will happen in the near future.
July 14, 2017, 10:27:58 AM
with bitcoin you banker for youself
July 14, 2017, 10:25:06 AM
I think maybe there's a chance that bitcoin will
be operated by the bank in the future but I hope
it will not going to be different for what bitcoin it is now.
be operated by the bank in the future but I hope
it will not going to be different for what bitcoin it is now.
July 14, 2017, 09:40:35 AM
I dont see any goods of bitcoin pairing with bank, when bank combine with bitcoin the result will be bad, our transaction will be not anonymous anymore and we will be taxed, so it is better bank and bitcoin walk in different path and we need both of them because both of them important for our future economics
July 14, 2017, 09:34:37 AM
Some Banks have tried to invest in Bitcoin. And I think, in the future there will be many banks that embrace Bitcoin platform, which will certainly make Bitcoin users easier.
There is a huge difference between investing in the bitcoin and operating the bitcoin. According to my understanding both the activities are very different from each other. Banks invest in real estate and oil refineries as well, but they don't offer a housing project to the clients nor do they sell oil.
I think bitcoin is not invented to be operated by banks.
July 14, 2017, 09:12:48 AM
Some Banks have tried to invest in Bitcoin. And I think, in the future there will be many banks that embrace Bitcoin platform, which will certainly make Bitcoin users easier.
July 14, 2017, 08:53:28 AM
I do not see banks adopting the idea of using bitcoin as its a decentralized currency and the bank can only operate on centralized circles, but one thing is for sure they will adopt the blockchain technology as its easier to audit transactions that go on there and its one of the safest and most transparent tech system to use today.
July 14, 2017, 08:45:17 AM
No, bitcoins will not be operated in Banks because bitcoins is decentralized it is not like fiat money
but the bank will adopt technology behind of bitcoins,
the Banks in the future will adopt technology of blockchain in their business of banking system
or their business will be died because technology of blockchain is more cheap than tradition of payment system.
but the bank will adopt technology behind of bitcoins,
the Banks in the future will adopt technology of blockchain in their business of banking system
or their business will be died because technology of blockchain is more cheap than tradition of payment system.
July 14, 2017, 08:41:19 AM
What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.
I don't believe bitcoin will be operated by majority of bank in future because it is a threat to the conventional banking system. At least that's how the top bankers are seeing it. Bitcoin is decentralized and that's what is not acceptable for them. Banks want to control money and government want to control power.
Bitcoin is providing money to the hands of the people and money means power to the government. So neither government nor banks will support free distribution of bitcoin in to the economy. At least they will not openly support it. Instead they will try to launch their own digital money and ask people to invest in it.
Exactly! Here in the Philippines, our Central Bank (BSP) sees bitcoin not as money but as property thus, it is not subject to legal tender. Due to this, government intervention at the moment may seem impossible. As you said since bitcoin is decentralized, if banks control it this would eliminate the chance of everyone earning bitcoin. This would also result to potential price drop and lower investments made. I am sure the government knows this and that is why they avoid it at the moment.
July 14, 2017, 08:36:47 AM
who said it won't? 
if bitcoin becomes more adopted than this and the countries continue regulating it as they are right now, soon we will need the services that banks offer.
The service that a bank provides is the ability to access your physical cash as "digital money" - a number in a bank's database. This is because earlier systems of digital money required an intermediary to be spent conveniently.if bitcoin becomes more adopted than this and the countries continue regulating it as they are right now, soon we will need the services that banks offer.
Bitcoin changes this. That's basically the whole point of its existence. You can have access to your coins as if it were cash, and have full sovereignty of funds.
It's suicidal to suggest going back to the days of banks. If you want a loan, you would get it from a regulated loan company and most likely have to give your personal details to them. That's okay, but your bank doesn't have to have full control over all of your possessions and money.
it just has not yet offered all the services a traditional bank offers. services such as loan, credit cards,...
Loans are how banks create money. New money is introduced into the economy because banks make it up out of thin air to give it as loans. Real loans would be giving out money which actually exists.As for credit cards, they are just a means of encouraging people to go further into debt so that more debt-based money can be created and sustain the economy.
it doesn't matter how you define each one of these services. at the end of the day all of these services that banks offer are services that we all want and use at some point.
for example everyone is using credit cards, many of us have taken loans, most of us have deposit accounts in banks to get annual profit each month, .... and a lot more
July 14, 2017, 06:25:45 AM
What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.
I don't believe bitcoin will be operated by majority of bank in future because it is a threat to the conventional banking system. At least that's how the top bankers are seeing it. Bitcoin is decentralized and that's what is not acceptable for them. Banks want to control money and government want to control power.
Bitcoin is providing money to the hands of the people and money means power to the government. So neither government nor banks will support free distribution of bitcoin in to the economy. At least they will not openly support it. Instead they will try to launch their own digital money and ask people to invest in it.
July 14, 2017, 06:21:30 AM
What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.
Nobody is sure of what the future holds for everyone of us but for me, I will have to take the pessimistic view on the adoption of bitcoin by the banks which I feel will be a complete deviation of what bitcoin stands for which can equally be interpreted as an hijack of the the whole process. There is an option of them to adopt the blockchain technology to make them more transparent which is enough for them.
July 14, 2017, 06:15:06 AM
Hoping to see the banks using cryptocurrencies (any) is just asking for centralization, wich is the total opposite of the cryptocurrencies ideology. If banks have to use it then it shall be done with our own rules and not theirs, otherwise there is no use to re-invent the same wheel where finally we don't have much freedom with our own money. The day we will be able to see the traditionnal banking system adopting crypto will be only in their own interests to get their share
July 14, 2017, 05:57:30 AM
Banks do not suit with bitcoin
Banks need a difficult way to transfer money and we need register with our identity
Bitcoin only takes two people connected to the internet it is enough
Leave bitcoin as-is now
Banks need a difficult way to transfer money and we need register with our identity
Bitcoin only takes two people connected to the internet it is enough
Leave bitcoin as-is now
July 14, 2017, 05:56:07 AM
Bitcoin is beautiful because it is a decentralized, peer to peer . Banks will spoil the fun don't you agree?
You are absolutely right. The main aim of the bitcoin and many altcoins is decentralized, peer to peer and sometimes anonymity. This is exactly the opposite of current bank and government's system. But i am afraid in the future the banks and the government will control the cryptocurrencies. Even now, i am sure they are trying to control it. 
July 14, 2017, 05:49:14 AM
Bitcoin is beautiful because it is a decentralized, peer to peer . Banks will spoil the fun don't you agree?
July 14, 2017, 05:46:17 AM
Well I am not sure if Bitcoin will be operated in the bank in the future. If the bank operated bitcoin meaning to say bitcoin is tolerated as currency in a country. The government accepted bitcoin and bitcoin can be use by the government in some ways. Well we are in a new generation, everything we think is impossible becomes possible no one knows what will happen next.
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