should we be happy or stay alert because of some foul play? - page 2.

ipanks

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Quote from: posi on November 02, 2018, 04:01:15 AM

We both know the purpose of bitcoin creation was to give people financial free and liberation from the government which is the reason why it was decentralized in natiure. But, lately more banks are stepping in into Bitcoin and block chain despite they knew Bitcoin and block chain systems are their competitors.
The question is should we be happy or stay alert because of some foul play?

I think we can let the banks do their jobs and if they want to make the blockchain as the competitor, we cannot do anything. But the banks will know that they have something that they don't have compared with the blockchain. And soon, the banks will realize that they need to integrate their system with the blockchain itself. We should be happy and stay alert because with doing this, we can prepare if something bad happens so we can save our assets and our money and we don't have to get the bad experience.

Whaletale

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To start with , blockchain , cryptocurrency and Bitcoin is really a big thing to have happen in our life time and I believe many will still miss the opportunity and we that are in all know that cryptocurrency is very volatile in nature so be it foul play or not it is always good to watch our portfolio and also set stop limit in case of sharp drop in price .

TentallyMooN

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Probably they do it because they want to grow with technology. Maybe they just want to be friends with the blockchain, not competitors Roll Eyes

sunsilk

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Quote from: hulla on November 02, 2018, 08:28:03 AM

Quote from: sunsilk on November 02, 2018, 04:16:50 AM

Happy and alert at the same time.

Few years ago majority of the people in the community are telling that it will take over the banks and probably eliminate it. And I guess those words are becoming in reality right now and these banks assess that its possible to them.

They haven't found a way to beat bitcoin and instead of competing, they are joining.

I supported what sunsilk said because the banking sectors are one behind bitcoin restriction in Isreal, some Africa countries etc. However, government, the bankers and the senior regulators have both once try to eliminate bitcoin and said false things about block chain but now they are joining the course of which the chance that will totally support crypto sphere is 50% and the chance of their intention is also 50%.

They are also the one that's behind the ban of crypto's on India and that's why people who are in crypto's there can't move freely. With their intention, I don't think that the chance is only around 50% but it's sure 100%.

They are into financial industry so as long as they know that they can profit on it, they would do everything and adopt it for their own purpose. Though its like two birds with one stone still it will benefit the crypto market if ever most of them are into it.

Pursuer

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first of all there is a difference between using the blockchain technology and using bitcoin. the former is the technology and when using that they will be creating a centralized altcoin which has nothing to do with bitcoin and its future. the later is using bitcoin directly and although I have not yet seen any banks actually do it but they will do it some day which will be the point two:

secondly banks are only services providing some services that people use. it is not something to be worried about or think can change the course of bitcoin decentralization. we already have some bank like services such as Coinbase and Bitpay and there is nothing wrong with that.

BeManga

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Quote from: posi on November 02, 2018, 04:01:15 AM

We both know the purpose of bitcoin creation was to give people financial free and liberation from the government which is the reason why it was decentralized in natiure. But, lately more banks are stepping in into Bitcoin and block chain despite they knew Bitcoin and block chain systems are their competitors.
The question is should we be happy or stay alert because of some foul play?

if your investor in bitcoin you should be happy about it
maybe its the start of adoption before it go in mainstream

Danna Haisy

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We should be happy and stay alert at the same time. we should happy because they finally realize the advantage of bitcoin and step in into Bitcoin and block chain but also be aware of they action. we don't know exactly what we wanna do in crypto world.

daarul50

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We should be happy because banks have begun to feel rivaled by bitcoin and spurred them to adopt blockchain technology in order to adapt to today's digital developments. Therefore, we must continue to support bitcoin and its technology by continuing to use bitcoin so that this technology becomes the main one in the financial world in the future.

louie69

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Quote from: syarifbitcoinishack on November 02, 2018, 12:25:29 PM

I think you are wrong, the Bank is only interested in blockchain technology not Bitcoin
because Blockchain has unique features so they intend to adopt and implement it into their system to make Fiat better so my answer is "Stay Alert"

I agree, banks are definitely interested in the technology being used on cryptocurrency as it has been probably observed that it could make the banking business transactions more competitive just like with cryptocurrency. Using the blockchain technology in the banking system would gain more advantage to the bank investors where it could have the same results with cryptocurrencies payment transations which i more faster than bank transactions. I believe that anonymity may not be adaptable to the banks as it requires KYC unlike cryptocurrency does not require it. I don't think that people should worry about it since there is no need to where I think it has no great impact at all.

Kakmakr

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The foul play has not even started yet, because we do not have even one recognized Government coin yet and the Banks have not launched their own private Blockchains yet. The R3 Banking Group are working with Mike Hearn to develop their own private Blockchain based technology and they will launch that in the near future.

The foul play will come into play, when Governments will work with these financial institutions to legitimize their technologies and ban other Crypto currencies. Angry

cizatext

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Well if banks and other financial institutions adopt bitcoin/cryptocurrency then that shows that the network is growing on a daily basis and also will help to bring mor adoption, but the fact is any involvement of banks and financial institutions will further lead to the centralization of the cryptocurrency world which is not in the original intent of the developers which is to provide a payment system which will be free from every third party involvement.

Timmzzy

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Quote from: posi on November 02, 2018, 04:01:15 AM

We both know the purpose of bitcoin creation was to give people financial free and liberation from the government which is the reason why it was decentralized in natiure. But, lately more banks are stepping in into Bitcoin and block chain despite they knew Bitcoin and block chain systems are their competitors.
The question is should we be happy or stay alert because of some foul play?

Definitely we should be happy but not to be too happy because it's risky in the sense you have to be at alert at all time most banks steps backwards in which one don't have to enter a wrong hand. I believe this current situation won't last for ever I believe bitcoin will grow more and it will make a difference.

Naughty Princess

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Quote from: 131tc01n on November 02, 2018, 06:07:54 AM

we may be happy with it, but we must be more aware of the dirty game. For dirty games to fail with the beliefs of the bitcoin holders, in fact they still cannot drop bitcoin which continues to improve because they are only a small number of people who don't like the many people who support bitcoin

We should be happy and stay alert about the situation. If they are playing some foul play, we have to play with them but be careful of playing cause of is risky. Though some are stepping to breakdown bitcoin but still there are many that supports and still believe on it to recover. We have to follow the flow and get an opportunity before it recovers on the market.

Dexion

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Of course, we must be vigilant and careful about banks that have different systems than Bitcoin, but, I think, some foul play will not be able to influence the value and existence of Bitcoin.

banks will get bored and give up to give bad effect to bitcoin, finally, there is no other way, unless banks have to adopt bitcoin and force the government to make regulations.

bolbau

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we must be happy at the same time we have to stay alert to this bank's decision. for the sake of the moment we must be happy with the bank's decision to start using blockchain technology. this is a sign that crypto is able to collaborate with conventional systems, let public trust grow first. but as a community we must remain cautious, stay alert, banks for any reason will justify any means so that their position is irreplaceable. the independence of the crypto industry will be tested at that time. Conventional banks will not be so easy to let cryptocurrency grow rapidly, in the future we must escape from their shadows.

ngerok

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Quote from: MichaelOwen on November 02, 2018, 07:04:29 PM

Do not invest all in bitcoin because when there is risk you will lose everything and suffer from homelessness, poverty

your goal of investing in BTC is very good, BTC is the best coin, look at the market price table that BTC prices are always first among altcoins. get ready to become a millionaire in the future, you need to remember for you not to sell when prices drop, you should be confident in BTC and keep your BTC.

MichaelOwen

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Do not invest all in bitcoin because when there is risk you will lose everything and suffer from homelessness, poverty

Gabah56

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if in my opinion. we must remain vigilant when investing in cryiptocurrency bro. and be careful when choosing the coins we will buy. or save assets in the long run.

BitHodler

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Quote from: syarifbitcoinishack on November 02, 2018, 12:25:29 PM

I think you are wrong, the Bank is only interested in blockchain technology not Bitcoin
because Blockchain has unique features so they intend to adopt and implement it into their system to make Fiat better so my answer is "Stay Alert"

Banks will adapt to Bitcoin as well. Exchanges currently scoop up so much in fee income, that the largest exchanges generate more profits than some large legacy banks, which is something they for sure want a piece of.

Banks have the best possible chances to accomplish that with how they can allow people to instantly buy crypto out of their own pool of resources, while with exchanges people have to wire money first, which takes days.

No way banks aren't already in the background working on this. They are businesses out to increase their revenue and profits, and what else than the booming crypto market will allow them to capture that exposure?

kryptqnick

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Quote from: posi on November 02, 2018, 04:01:15 AM

We both know the purpose of bitcoin creation was to give people financial free and liberation from the government which is the reason why it was decentralized in nature. But, lately more banks are stepping in into Bitcoin and block chain despite they knew Bitcoin and block chain systems are their competitors.
The question is should we be happy or stay alert because of some foul play?

What's important is that when banks adopt blockchain and perhaps even bitcoin, the latter doesn't really become dependent. People can still use it like before, they are not obliged to perform everything through banks once they accept blockchain. Governmental regulations are more about preventing money laundering (and I am pretty sure Satoshi would not be against it) and putting taxes (that's kind of sad, since money should not be taxed). As long as cryptos are not banned, it's fine for me. I mean, surely it's better if banks adapt than if they try to fight it.

Topic: should we be happy or stay alert because of some foul play? - page 2. (Read 723 times)