When will banks start a war against bitcoin - page 46.

panju1

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Quote from: monocolor on August 13, 2017, 12:19:30 AM

I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

There is a big difference between Bitcoin and blockchain. Using blockchain technology reduces costs a little bit, but not much. International money transfer has high levels of compliance costs, which will still be there, whether you use SWIFT or blockchain.

bitcoinVPSD

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The battle between the bank and bitcoin will not happen. I think so .. if that happens then many banks accepting bitcoin will now be chaotic. Governments of countries will accept bitcoin as Korea will how when when they encourage people to approach bitcoin?

monocolor

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I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

the rise

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Quote from: manchester93 on August 13, 2017, 12:04:53 AM

Quote from: Umbrella Holdings on August 12, 2017, 09:16:40 PM

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Indeed, banks are filing blockchain patents left and right. They'll integrate bitcoin services in time because there will be demand for it; and they'll generate bitcoin revenue as a result. The ones who will be hurt in the end are the central banks, not the commercial banks.

Bitcoin integration begins with the central bank and has been done by japan, all policies can't be done by commercial banks without orders from government banks, I agree with you if no one will war from any party, because money can only be applied by rules without having to go through rejection process.

manchester93

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Quote from: Umbrella Holdings on August 12, 2017, 09:16:40 PM

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Indeed, banks are filing blockchain patents left and right. They'll integrate bitcoin services in time because there will be demand for it; and they'll generate bitcoin revenue as a result. The ones who will be hurt in the end are the central banks, not the commercial banks.

HabBear

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Quote from: matjas on August 10, 2017, 10:55:08 AM

There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.

Banks aren't making these accusations. Politicians and governments are. There's a big difference.

Banks are in business to make money. Bitcoin can make them a lot of money. They're not going to try to bring it down, they want to participate and make a ton of money.

This the politicians we should worry about. They don't have real understanding of what Bitcoin is or why it improves a failed system. A system, by the way, that politicians (over history) have created and continue to support. If politicians deem Bitcoin as a threat they will enforce laws to make it difficult for people to use it.

As the base of voters we can combat that worry by voting in politicians that are supportive of Bitcoin and the market it strives to create.

Gameroid

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Quote from: Umbrella Holdings on August 12, 2017, 09:16:40 PM

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

yes that is true that they are not going to start war against bitcoin. i think if the stage or the government will consider bitcoin as legal currency then i think they will also start accepting bitcoin and they will create wallets of depositing bitcoin and i think that they will be more happy and will get good profit from it.

darkangel

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Quote from: matjas on August 10, 2017, 10:55:08 AM

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

Currently, bitcoin is not accepted by banks. But it also does not interfere with the development of bitcoin. When banks fight bitcoin together, bitcoin users have taken advantage of them to commit illegal acts.

10yearsolder

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Quote from: Umbrella Holdings on August 12, 2017, 09:16:40 PM

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

That is right. The banks are flexible themselves and can very much adapt to the call of the times.

Umbrella Holdings

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Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Realist247

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If governments are already working on their own cryptos that means that their central banks will likely have a hand in it.

Singapore and Russia are two governments.

Goldman Sachs already has its own crypto that it has patented.

All governments of the world are backed by banks in one way or another. Just because the war against BTC hasn't been publicized in a direct way doesn't mean that it isn't happening as I type this.

stromae

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Quote from: matjas on August 10, 2017, 10:55:08 AM

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

I think we're very far away from that stage right now. Because the global traditional banking system was not disrupted the the blockchain yet. Next 5 years will be critical for bitcoin's future.

krisnt80

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The acusation about money laundering already happens with fiat and over the banks, soo they tryed to damage bitcoin before it could grow, but without sucess, visa, mastercard and similiar companies had loose a lot money on the last years due to bitcoin as well. There is no way to stop bitcoin anymore, those companies will have to follow the future or ignore it, but at this stage crypto walks with their own legs.

paragoncoin

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Quote from: New2coin on August 12, 2017, 10:17:24 AM

Quote from: libert19 on August 12, 2017, 10:14:10 AM

We use banks to convert Bitcoin to fiat money, so Bitcoin also makes money to banks when we convert. So there will be no war Cheesy

Very good point, libert19. As we know banks can be very greedy! Let's hope they are content with the money they are making from converting bitcoin to Fiat money.

I am pretty sure we will see transaction fees from these banks increase pretty quickly. Banks aren't generally known for their patience and generosity.

New2coin

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Quote from: libert19 on August 12, 2017, 10:14:10 AM

We use banks to convert Bitcoin to fiat money, so Bitcoin also makes money to banks when we convert. So there will be no war Cheesy

Very good point, libert19. As we know banks can be very greedy! Let's hope they are content with the money they are making from converting bitcoin to Fiat money.

libert19

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We use banks to convert Bitcoin to fiat money, so Bitcoin also makes money to banks when we convert. So there will be no war Cheesy

lonelygrimm

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I have a friend that working for a local bank, he is an economic expert too. I ask him can bitcoin disturb banking world ? He answered so relax that bitcoin is none of threat, banking world is so huge, they main income not coming from daily person use like transactions fee or saving, they have so many business from big player, so if they think bitcoin is a threat, then they must be already take an action to it from the first birth. Don't forget about government, they are the main threat in bitcoin Roll Eyes

so just let's take a seat and watch, i think there is nothing to worry about for now

Mett33

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How long you think that bitcoin will stay anonymous?

I saw that fed already pay some research about that.

https://www.youtube.com/watch?v=Cwj_iympoRg

Bitcoin start to become big market value and how long you think that gov will watch how criminals hide their money inside?

More is big more is danger that gov will put inside his hands.

ekoice

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Banks are already considering bitcoin as their main rival.The thing for which they early feared has started to become true nowadays.They have started to lose their revenues which they used to get from transactions.Especially remittances from abroad like philippinese sending their hard earned money to their countries in bitcoins.ATM usage would get reduced resulting in loss of ATM service charges.Big depositers would start chosing to invest in bitcoins which gives huge returns in stead of bank deposits which gives very low interest.I tink bankers have started to lose their hold slowly over the society.Even though it would not affect immediately the banking sectors,in future it may create disasters.Bankers and governments have tried their best to destroy bitcoins,but they could not.Even it is said that Ripple coin itself is created by some bankers as a competitor to bitcoin.

loopes

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Quote from: pedrog on August 10, 2017, 11:04:59 AM

Quote from: matjas on August 10, 2017, 10:55:08 AM

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you thing it will happen and when?

People been making those kind of allegations and other complicated conspiracy theories since bitcoin's inception, it never happened and it will never happen, people working at banks don't care about bitcoin, shareholders don't care, CEOs don't care, tellers even less.

They only complain about the unfair paying field, they have to spend millions in compliance while some bitcoin startups who offer similar services don't.

yeah all bank around me still not give special announcements toward bitcoin. they are still not open their eyes to bitcoin because here bitcoin users is only small scale. so there no war begin between bank and bitcoin.

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