Topic: will Bitcoin still have value if banks adopt the underlying technology? - page 2. (Read 1081 times)
May 30, 2016, 04:18:56 PM
In fact it will hav way more value, since mainstream banking taking on blockchain will make people aware that there is a free, open source version with no limits. It's like back in the day the intranet vs internet. Banks already lost unless they simply accept Bitcoin as the defacto blockchain.
May 30, 2016, 04:14:28 PM
Of course will Bitcoin still have value. What banks are doing is essentially creating their own altcoins. Even worse, these altcoins will be most certainly under some kind of centralized control. Bitcoin will most likely not suffer from these activities, because it has by far the greatest network size, hence security. Also the most essential appeal of Bitcoin is that it's not centrally controlled. In fact, the message engraved in the first block states quite clearly that Bitcoin was created to break the power of banks and misguided interventionist monetary policy.
I think many opinion leaders in the banking sector are just following what they perceive to be en vogue, without really understanding the technological background and motivation of it. The creation of privately controlled blockchains can be compared to setting up an intranet limited to a certain user group versus using the internet, where everyone can theoretically connect with everyone.
ya.ya.yo!
I think many opinion leaders in the banking sector are just following what they perceive to be en vogue, without really understanding the technological background and motivation of it. The creation of privately controlled blockchains can be compared to setting up an intranet limited to a certain user group versus using the internet, where everyone can theoretically connect with everyone.
ya.ya.yo!
May 30, 2016, 03:48:33 PM
Bitcoin might become irrelevant in the distant future but it's far from that stage now. Even if the banks make similar technology, the amount of control the banks would want could put most people off. A lot of people use Bitcoin, simply because it's not controlled by the banks.
May 30, 2016, 03:01:39 PM
with increasing number of financial institutions showing an interest in the underlying technology of Bitcoin rather than the coin itself, could it be possible Bitcoin becomes irrelevant in the future, most people are confident dealings with banks and if they offer similar technology why the need of Bitcoin.
there always be possibilty for Bitcointo becomes irrelevant in the future,but i dont think it caused by banks,becuase so far not many banks not interesting into bitcoin,and its why bitcoin will always be relevant for people who love bitcoin. May 30, 2016, 02:44:05 PM
with increasing number of financial institutions showing an interest in the underlying technology of Bitcoin rather than the coin itself, could it be possible Bitcoin becomes irrelevant in the future, most people are confident dealings with banks and if they offer similar technology why the need of Bitcoin.
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