Topic: If you believe banks will work with Bitcoin, you're delusional - page 2. (Read 4107 times)

Lol I know right ? This guy reads something and just makes his own conclusions. I would hate to know what sort of things go on in his mind can you imagine ? It must be a scary place. There not enough hands in the world for that face palm.

We do not need bank if we are using Bitcoin because our online bitcoin wallet, offline bitcoin wallet etc etc considered and works like a bank for Bitcoin. Integrating Bitcoin to bank is kinda lame when we can just only used our web wallets for transaction and savings.

If you think bitcoin and banks go together then you shouldn't really be here. That is the entire point of having bitcoin. Bitcoin and banks are enemies..... Where, there do people see working together ? I dont see working together I see the word enemies. Why would anyone want to use even a bitcoin only bank ? Your wallet is the safest place for them. Not some bank.

I dont think bank will change its policy and adapting bitcoin, because bank wont let any anonymous customer put his wealth on the bank, when you want bank to adapting bitcoin,for sure you will be asked for identity verification

I'm not agreeing with this because in the Netherlands I had read that they are even considering making their own coin, I think there are possibilities for banks honestly.

I don't think Bitcoin really cares if banks will work with it. Bitcoin is going to bitcoin regardless of whether or not banks work with it or not. Bitcoin isn't dependent on banks working with it. Therefore, I don't really care/am not worried if banks work with bitcoin or not.

GS stopped paying membership to R3 because R3 gave their blockchain code('corda') to hyperledger. thus now making R3 just a useless middleman group
all them banks are now deciding to drop the R3 and pay in direct to hyperledger. because R3 has served its purpose
http://www.coindesk.com/r3cev-positions-next-phase-distributed-ledger-development/
http://www.pcworld.com/article/3134014/bankers-plan-to-give-corda-blockchain-code-to-hyperledger-project.html
https://www.finextra.com/blogposting/13074/blockchain-and-hyperledger-project-beyond-the-hype
http://www.newsbtc.com/2016/10/22/r3-corda-hyperledger-open-source/

same goes for devs like blockstream and bloq and hearn.. they all want to be directly involved with hyperledger. not paying some middleman that takes a cut.

this does not mean banks have dropped out of blockchain creation it means they have upped their game and got more directly involved and collaborating directly.

at the moment jgarzic / andresen / hearn / maxwell were in talks with price waterhouse cooper. but i feel thats just some middleman that blockstream used to hide true involvement. and will soon just go direct to being tethered to hyperledger.

no point in them hiding it, so they might aswell call out what their real plans/desires are. as its become too obvious and transparent now

Banks would (probably) never accept bitcoin as itself (a currency), but they would make a similar digital coin with a similar blockchain to bitcoin and its blockchain.info. In my opinion, even if banks supported their cryptocurrency, they won't get to the level of bitcoin. Besides, governments that accepted bitcoin usage, don't totally make it a legal currency, they allowed its usage to observe what happens, skeptically.
Circle is useless. Bitcoin doesn't even give a damn about them, they can go to hell.

i just pessimistic bitcoin can be accepted in banks and work together
mostly banks officer around the world make a bad jokes about bitcoin, i don't like it
also government will not let it happened, how can you say banks will accept bitcoin in the future?
banks maybe could adopt blockchain technology in their banking system , but not with bitcoin itself i guess.

currently as banks are not going to accept bitcoin, but in future i am sure that with increasing strength of bitcoin, banks  are going to accept bitcoin, specially after government to accept bitcoin as legal currency.

I bet to differ because the Bank of England made a consortium of 50 English banks; those that are completely rebuilt on a model based on blockchain technology. So I believe they will eventually integrate into a blockchain bank or something like that in the near future rather than a complete wipeout of the banks.

I totally agree with what you have said. Banks will never accept bitcoin and they will never want people to use bitcoin for their own good. No bank in the world will be able to offer such type of return which bitcoin is giving to the people. Within a year, I have received over 70% profit from my investment. This kind of return banks will never be able to afford.

Also bank has a legal limitation about accepting bitcoin in to their regulated environment. Bitcoin is not controlled by any central authority. That is another main roadblock.

They're already doing it and one has released it. They aren't going to use Bitcoin they are using blockchain technology, the distributed database behind Bitcoin. The greatest warriors the world has ever known didn't kill the opposing army, they absorbed them. Bitcoin is already being absorbed by the main stream financial sector. Circle is the best example of that to date.

Circle stopped accepting Bitcoin but not before they learned everything they needed to know about the blockchain (clearly the best feature of Bitcoin). Circle has always primarily been a fiat payment system that also took Bitcoin. Their main use is to allow people to send money around the world in any currency (dollars, euros, pounds or whatever) for absolutely NO fee. You can text someone an emoji and have money hidden behind it or just text them money. They have two factor authentication and are FDIC insured. There's no limit on how much you can send and all you do to sign up is take a pic of your debit card. Its ridiculously simple to use. As far as I can tell, they are the only true competitor to Bitcoin without the transaction fee.

I just sent $500 to my daughter 3000 miles away for Christmas. I used Circle and it took 20 seconds to send, was hidden behind an emoji of a Christmas present, took her 30 seconds to transfer to her bank account and had absolutely NO fee whatsoever (no exchange fee, no transaction fee, no withdrawal fee, no deposit fee, a completely free service). How the fuck is Bitcoin ever supposed to compete with that?

You're right about that, there's always a high possibility that banks will create their own form of virtual currency. If anyone has watched Mr.Robot TV show, it depicts a good example of how a large monopolistic company having political friendship could potentially create their own form of currency and lure their existing customers to use it. Also, on the other hand, it's possible that a centralized Bitcoin wallet and exchange opens and that Governments and certain banks could partner with them but regulate, monitor and collect a lot of personal information from users, freeze accounts by introducing new Terms and Conditions and add limits to user accounts.

We can not know for sure if bitcoin will last ong enough that banks will start using it , but for quit a while the number of people using bitcoin has increased and more and more service providers are starting to adopt it as payment mothod which is why i don't see a reason why banks will not use it if it continues its progress and its massive growth both in price and in the number of users.

Not only newbies, but also people who ONLY use bitcoin to earn extra money and don't know/care about bitcoin goal at all.
Based on vote on my thread here (https://bitcointalksearch.org/topic/--1652815), 21.8% member of this forum agree with idea of "Bitcoin bank" which is pretty stupid.

of course they will not and this is why they are making their own "bitcoin" with their private blockchain, but soem banks in some country perhpas will accept bitcoin and offer some forms of service to secure your coin, i see no problem with this

That's true, with bitcoin wallet everyone can have their own banking into their own hands. But banks have gained trust from the people around the world due to its systematic management. Now as an alternate solution bitcoin and digital currencies have existed. To be on the mainstream bitcoin needs to move along with banks or banks need to adopt bitcoin's backing technology.

Don't know who believes that, only newbies maybe. Bitcoin is made as asomething to oppose and negate the need of banks since you're your own bank, I don't see any need for banks and bitcoin to mix.