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jaysabi

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Quote from: Raimonn on November 11, 2015, 01:05:16 PM

Banks don't want bitcoin because they can't control it. They know that blockchain would allow them to reduce its costs, but only want to copy it. They want a private blockchain that they can change if they need. Could be possible, in some time, they accept deposits with bitcoins, like with other currencies.

Right, a centralized digital currency. That's essentially the banking system we have now. Far more fiat money exists digitally than in physical form.

Raimonn

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Banks don't want bitcoin because they can't control it. They know that blockchain would allow them to reduce its costs, but only want to copy it. They want a private blockchain that they can change if they need. Could be possible, in some time, they accept deposits with bitcoins, like with other currencies.

USB-S

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In XEM we trust

I would love to see banks of the future lending BTC out to people. It's not fractional reserve so the risk is duble or triple of what it is now. Would love to see how they adopt bitcoin into their current structure. However I think they will hold fiat as their main currency as long as there is demand. And they will not give this fight up easily. Most likely we'll see much blood in the future over this.

Denker

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Why should banks want something they can not control?!This makes no sense.Banks are highly centralized and hierarchical leaded entities. It's all about control there. Bitcoin is so much the opposite of them. Merely regulatory, decentralized, borderless, free entrance and permissionless innovation and usage.
Banks are going for their own private Blockchains they have fully control of.

For that I recommend the newest presentation by Andreas Antonopoulos.Just awesome:

https://www.youtube.com/watch?v=810aKcfM__Q

odolvlobo

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Quote from: kaselit on November 10, 2015, 10:15:03 AM

Stop and think:

- The rich love deflation money because rich become ever more rich. So bank and b.c. love it
- Limited supply: the prices can go lower, the rich can buy and invest more
- The adavantages of BTC are awesome instead than FIAT. For a bank: very low employe cost, very less costs for print money

Don't confuse money with wealth.

Rich people don't hold a lot of money. They hold a lot of assets. Deflation hurts them.

Poor people hold more of their wealth as money and are helped by deflation.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: HeroCat on November 11, 2015, 11:38:33 AM

Banks will implement BTC in future, but there are a lot of people, which will use paper money anyway Grin

Of course, changes like that take years. If you want an example look at computers and internet banking. People who grew up in the 40's usually prefer to go to the bank and withdraw money in person than pay through an internet account, even though in their age it's a big thing to actually take a bus or a cab to the bank. I know a number of older people and even though they are using credit cards they don't really understand how they work.

HeroCat

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Banks will implement BTC in future, but there are a lot of people, which will use paper money anyway Grin

n2004al

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Quote from: kaselit on November 10, 2015, 10:15:03 AM

Have you ever asked yourself if bank or big companies (b.c.) want bitcoin?

Before this thinking, i thought that in the future banks and b.c. throught payed media will try to kill BTC... but if it will not happen? Or better, if them will move people to BTC?

Stop and think:

- The rich love deflation money because rich become ever more rich. So bank and b.c. love it
- Limited supply: the prices can go lower, the rich can buy and invest more
- The adavantages of BTC are awesome instead than FIAT. For a bank: very low employe cost, very less costs for print money

I don't think bank and b.c. hate bitcoin, they don't care about can't control a money, i think they care about HOLD a lot of money, LIMITED SUPPLY, so they can hang best all workers.

And if in a few years the bank will start to promote BTC and press gov to change to BTC?

And if they are trying to keep silence to get more BTC possible now? I don't think it is impossible...

I think that it will be possible and even that can be a normal thing when the time will come. Maybe it is already a reality in some countries. But with (at least) one condition. Without which, every your supposition cannot be (for sure) possible. Bitcoin must be a regulated (legalized) currency in the country where the bank or the big companies have its activity. Without regulation nothing will be possible. I can tell you even that in some countries your supposition it is verified. For example in USA when bitcoin is regulated and will continue to be regulated in the years to come are to many the companies or merchants which accept (accumulate) bitcoin. Are even two big companies which accept bitcoin too: Microsoft and Dell. So bitcoin is regulated, the big companies want bitcoin. It is not more an dream but a reality. The same will happen in every country which will regulate it and will leave freedom to everyone to act according to him's will and desire.

jaysabi

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Quote from: ?? on ??

Quote from: Amph on November 10, 2015, 12:05:31 PM

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Quote from: Tugril on November 10, 2015, 10:50:00 AM

The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

If banks hold from start enough BTC them can borrow a lot...

simply impossible that bank were among early adopter, because the value was zero back then, and banks hate bitcoin even now, why they should love it back then? no sense

Banks have put lot of milion $ in startup for bitcoin services...

You said the key thing yourself: the venture capitalists aren't investing in bitcoin as an asset, they're investing in bitcoin businesses. Real investors don't care about the speculation game surrounding the price of the currency, because ultimately it's just gambling. It could go up, it could go down, and there's no real logic surrounding it. (If bitcoin was such a slam dunk "investment" the price would be much higher than it is now.) Investors invest in businesses that earn a return on the investment. That's where the smart money is going, not in the currency itself.

NorrisK

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There could be a new type of bank emerging. A crypto currency bank.

Current banks will never change to bitcoin as it doesn't fit their business model. But if a new bank adopts a new business model, it might be feasible.

Mickeyb

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Quote from: Tugril on November 10, 2015, 10:50:00 AM

The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

Exactly this. Their system that they like so much let's them do whatever they want to. Bitcoin as transparent as it is would never let them do these kind of things. Bitcoin would essentially take a control away from them.

That's why I don't see them embracing Bitcoin, at least not by their free decision.

Amph

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Quote from: ?? on ??

Quote from: Amph on November 10, 2015, 12:05:31 PM

Quote from: ?? on ??

Quote from: Tugril on November 10, 2015, 10:50:00 AM

The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

If banks hold from start enough BTC them can borrow a lot...

simply impossible that bank were among early adopter, because the value was zero back then, and banks hate bitcoin even now, why they should love it back then? no sense

Banks have put lot of milion $ in startup for bitcoin services...

putting million right now, isn't much, let's assume that they started to buy bitcoin at 230, the last price that lasted for so long, even putting 10M will only give them 40k coins only

an early adopter has much more than that

randy8777

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Quote from: ?? on ??

Quote from: Amph on November 10, 2015, 12:05:31 PM

Quote from: ?? on ??

Quote from: Tugril on November 10, 2015, 10:50:00 AM

The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

If banks hold from start enough BTC them can borrow a lot...

simply impossible that bank were among early adopter, because the value was zero back then, and banks hate bitcoin even now, why they should love it back then? no sense

Banks have put lot of milion $ in startup for bitcoin services...

investments in bitcoin related startups are not affecting the bitcoin price directly as they aren't buying bitcoin as coin. for them it's purely the potential these just started companies have. they see money in it.

Amph

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Quote from: Tugril on November 10, 2015, 10:50:00 AM

The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

If banks hold from start enough BTC them can borrow a lot...

simply impossible that bank were among early adopter, because the value was zero back then, and banks hate bitcoin even now, why they should love it back then? no sense

Tugril

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The banks will not want to replace fiat with bitcoin. With fiat, the supply is unlimited. They can leverage many times with fiat with borrowed money from Central Banks.

Snail2

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Quote from: kaselit on November 10, 2015, 10:15:03 AM

Have you ever asked yourself if bank or big companies (b.c.) want bitcoin?

Before this thinking, i thought that in the future banks and b.c. throught payed media will try to kill BTC... but if it will not happen? Or better, if them will move people to BTC?

Stop and think:

- The rich love deflation money because rich become ever more rich. So bank and b.c. love it
- Limited supply: the prices can go lower, the rich can buy and invest more
- The adavantages of BTC are awesome instead than FIAT. For a bank: very low employe cost, very less costs for print money

I don't think bank and b.c. hate bitcoin, they don't care about can't control a money, i think they care about HOLD a lot of money, LIMITED SUPPLY, so they can hang best all workers.

And if in a few years the bank will start to promote BTC and press gov to change to BTC?

And if they are trying to keep silence to get more BTC possible now? I don't think it is impossible...

It appears to be a quite unlikely scenario, but they are definitely interested in blockchain technology. So, probably they will cherry-pick the technology what they want, and maybe they will start using bitcoin as an investment/speculative vehicle, but that's all.

kaselit

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UPDATE

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