Banks will most probably adopt the blockchain as a means to reduce their own transaction costs, and by doing this they are adopting the bitcoin currency almost by proxy since you cannot use the blockchain without using the currency, it is the currency (keys) that allows for interaction with the chain
They could just create their own blockchain, but it will certainly be less secure than bitcoins chain due to having less hashing power
The bankers will adopt bitcoin, but in a very stealthy, gradual and systematic way. Rest assured
Topic: Will the Banking Industry kill Bitcoin and keep the Blockchain? - page 2. (Read 8859 times)
December 21, 2015, 01:16:03 PM
November 23, 2015, 11:26:16 AM
When all the banks implement the block chain, they need a common currency to circulate in the block chain. That currency will be bitcoin.
November 19, 2015, 10:45:38 AM
Banks will implement Bitcoin and get profit from Bitcoin and Blockchain. May be even banks will get the best possible value from Bitcoin after it implementation. 
Banks will implement Blockchain but dislike Bitcoin. When all banks of the world implement Bitcoin then we will see flight to the Moon and maybe higher 
November 19, 2015, 10:30:41 AM
Banks will implement Bitcoin and get profit from Bitcoin and Blockchain. May be even banks will get the best possible value from Bitcoin after it implementation.
November 19, 2015, 10:05:14 AM
Banking industry will implement Bitcoin and offer it to its customers
Some banks already trying to do so - look CitiBank - CitiCoin.
The true is that Bitcoin still is just experiment and someday, someone can try to make something like Bitcoin 2.0.
However on the subject of banks I think most if not all banks will implement bitcoin in their systems just because wire transfers are just loaning money from another bank, this process requires an enormous trust. Bitcoin on the other hand requires no trust at all. It would be perfect. As banks adopt bitcoin into their systems, people gain awareness and most likely will start dealing and securing their bitcoins themselves killing the banking industry completely.
November 19, 2015, 09:52:44 AM
The banking industry is embracing the technology behind the blockchain. My local banks have announced this recently. Not so much about bitcoin as they don't seem to know what to do with it yet. Try and work with it or trash it.
November 19, 2015, 09:47:29 AM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
I beg to differ... If Bitcoin dies... Crypto currencies will fight for the top spot and they will bend the knee to the will of any government or bank. It's all about the money and the
power. Bitcoin dies .... Government friendly coins steps in and replace it. The only thing keeping Bitcoin alive at this moment is it's decentralized network. This network are under
constant attack from trolls and shills trying to divide the development and progress. The banking sector are already working on several replacements and you will see some more
aggressive attacks coming, when they are done with these projects.
Cannot be never true. First any commercial bank don't create money. They only use it like any other business. Then second, any kind of commercial bank will try never some day to have its coin. Have no meanings. There are thousand and thousand commercial banks. There are the same number of diverse coin. Every of those will try that its coin be accepted by the other commercial banks. So all the banks will passe their times to try to convince the remaining ones to accept its coin. Have no meaning. The commercial banks are interested about blockchain because the use of peer to peer in which is based blockchain cut significantly the costs of operations of technologies within a commercial bank which can be replaced by peer to peer. That's all. It is another thing the interest of the Central Banks of one country. They are interested about blockchain because want to have their national personal coin. See for more the links below:
http://uk.businessinsider.com/13-new-banks-join-r3-blockchain-coalition-2015-9
http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016
https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/
Commercial banks operate under specific groups, like Barclays and these groups work with the central banks and these central banks work with the Reserve bank and the
government. The commercial banks therefore adhere to the chain of command from the hierarchy from the top structures. The Reserve banks / Central banks could develop
their own token on a private Blockchain to transfer value or currency between central banks or from Central banks downwards. The Commercial banks could convert that token
to their own "in-house" private token to transfer value between their banks. What prohibits them from doing that? They are just looking for a cheaper and faster way to transfer
currency, and SWIFT is not the answer.
November 18, 2015, 04:59:29 PM
All banks in the world to earn money. Blockchain can help do this. Banking Industry and Bitcoin will exist in parallel and not to interfere with each other. That's all
November 18, 2015, 01:55:57 PM
If we still this kind of dumb thread i'm afraid we're far from being mainstream.
LOL at investing in "the Blockchain"
Time to educate yourself OP, we're sick of spoonfeeding.
LOL at investing in "the Blockchain"
Time to educate yourself OP, we're sick of spoonfeeding.
Well said my friend. The fact of the matter is that bitcoin represents a level playing field. To get a bitcoin is to earn a bitcoin.
Banking on the other hand, is a non-level playing field. Banks get to create money out of thin-air. They have been doing this for over a 100 years and so they have been accustomed to this mindset. To suggest that banks can compete on a level playing field is utter nonsense.
This is why I don't really care if there are a bunch of early adopters that are really rich. Even if Bitcoin is also non evenly distributed, you know that the Bitcoin that people has got them by doing something in return, and there's no way to screw around with the total supply and modifying it at will, which is what happens with fiat.
November 18, 2015, 12:24:55 PM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
I beg to differ... If Bitcoin dies... Crypto currencies will fight for the top spot and they will bend the knee to the will of any government or bank. It's all about the money and the
power. Bitcoin dies .... Government friendly coins steps in and replace it. The only thing keeping Bitcoin alive at this moment is it's decentralized network. This network are under
constant attack from trolls and shills trying to divide the development and progress. The banking sector are already working on several replacements and you will see some more
aggressive attacks coming, when they are done with these projects.
Cannot be never true. First any commercial bank don't create money. They only use it like any other business. Then second, any kind of commercial bank will try never some day to have its coin. Have no meanings. There are thousand and thousand commercial banks. There are the same number of diverse coin. Every of those will try that its coin be accepted by the other commercial banks. So all the banks will passe their times to try to convince the remaining ones to accept its coin. Have no meaning. The commercial banks are interested about blockchain because the use of peer to peer in which is based blockchain cut significantly the costs of operations of technologies within a commercial bank which can be replaced by peer to peer. That's all. It is another thing the interest of the Central Banks of one country. They are interested about blockchain because want to have their national personal coin. See for more the links below:
http://uk.businessinsider.com/13-new-banks-join-r3-blockchain-coalition-2015-9
http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016
https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/
November 18, 2015, 12:16:11 PM
If we still this kind of dumb thread i'm afraid we're far from being mainstream.
LOL at investing in "the Blockchain"
Time to educate yourself OP, we're sick of spoonfeeding.
LOL at investing in "the Blockchain"
Time to educate yourself OP, we're sick of spoonfeeding.
Well said my friend. The fact of the matter is that bitcoin represents a level playing field. To get a bitcoin is to earn a bitcoin.
Banking on the other hand, is a non-level playing field. Banks get to create money out of thin-air. They have been doing this for over a 100 years and so they have been accustomed to this mindset. To suggest that banks can compete on a level playing field is utter nonsense.
November 18, 2015, 11:14:58 AM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
I beg to differ... If Bitcoin dies... Crypto currencies will fight for the top spot and they will bend the knee to the will of any government or bank. It's all about the money and the
power. Bitcoin dies .... Government friendly coins steps in and replace it. The only thing keeping Bitcoin alive at this moment is it's decentralized network. This network are under
constant attack from trolls and shills trying to divide the development and progress. The banking sector are already working on several replacements and you will see some more
aggressive attacks coming, when they are done with these projects.
Yep the replacements will be absolute closed source trash, thats why it's very important for Bitcoin to remain open source and decentralized. And no I don't think the banking industry can do anything about it, even if they get the govs to pass a million laws, Bitcoin will always survive, there will always be nodes out there and there will always be people benefiting from mining somewhere around the planet.
November 18, 2015, 09:56:35 AM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
I beg to differ... If Bitcoin dies... Crypto currencies will fight for the top spot and they will bend the knee to the will of any government or bank. It's all about the money and the
power. Bitcoin dies .... Government friendly coins steps in and replace it. The only thing keeping Bitcoin alive at this moment is it's decentralized network. This network are under
constant attack from trolls and shills trying to divide the development and progress. The banking sector are already working on several replacements and you will see some more
aggressive attacks coming, when they are done with these projects.
November 18, 2015, 09:14:05 AM
Banking industry will implement Bitcoin and offer it to its customers
Some banks already trying to do so - look CitiBank - CitiCoin.
The true is that Bitcoin still is just experiment and someday, someone can try to make something like Bitcoin 2.0.
November 18, 2015, 08:40:13 AM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
How does that have anything to do with the Bank being unable to attack Bitcoin? There are a few ways to kill Bitcoin. They could simply brute force their way by getting a huge amount of PH and then doing "51%" attacks.
And considering the size of Bitcoin right now, it would be pretty cheap compared to the trillions of USD they could lose over time to BTC.
I'm not quite sure if the banks want to ride it out by including BTC in their schemes, but if BTC does succeed, Banks and Governments are going to have a hell of a problem dealing with it, even if they outlaw it or tax the fuck out of it.
I do not think a bank or government may attack on bitcoin in any ways. As long as we do not need bitcoin to be converted in to fiats, then no force will stop bitcoin evolving. You buy and use bitcoin. No one can do with your actions. When everything available for bitcoin, it would be the new government with no rules.
Governments already are... Heavily taxed like Brazil. Or illegal, like Russia.
Just have a quick look at this list, there's a list of sanctions and actions taken against Bitcoin as whole by Country here;
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
So expecting Bitcoin to be immune to Governments... you're in for a bad surprised if Bitcoin start getting bigger, because the attacks will get bigger as well.
Correct. A few countries since today has banned bitcoin but that doesn't mean nothing. These countries have fear from it and has chosen to ban it. They have a weak economy and have fear that the people "ban" the national currency choosing bitcoin and this can damage further their already weak economy. But if we see the bitcoin black market at these countries (at Russia for example) the trade rose every day more. See here the trade volume in Russia and the trend of it in time: http://coin.dance/charts.
So it is true that the policy of prohibition for someone which is wanted is unproductive. Normally those have the opposite effect. So it will be even with bitcoin. Soon or later this kind of Governments will understand the error and will do back return. And then bitcoin will have its legal status.
October 31, 2015, 08:29:33 AM
It would be so easy for the banking industry to prevent Bitcoin from becoming a major factor in commerce, it is not even reasonable to question the possibility. All the banking industry has to do is offer its own form of digital currency utilizing a block chain ledger and offer it within the framework of their pre-existing online platform....In fact, the banking industry is already working on that technology. Now, will that totally kill Bitcoin? I doubt it because there is an extremely profitable black market trade that Bitcoin will obviously have a monopoly on in the end.
Every bank has its own interest. How can all the banks agree a single coin? What is the point of having thousands of coins, one for each bank.
If they do agree with a single coin, how is it going to be issued? With unlimited supply? If that is the case, I will stick with bitcoin.
October 30, 2015, 09:54:16 PM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
How does that have anything to do with the Bank being unable to attack Bitcoin? There are a few ways to kill Bitcoin. They could simply brute force their way by getting a huge amount of PH and then doing "51%" attacks.
And considering the size of Bitcoin right now, it would be pretty cheap compared to the trillions of USD they could lose over time to BTC.
I'm not quite sure if the banks want to ride it out by including BTC in their schemes, but if BTC does succeed, Banks and Governments are going to have a hell of a problem dealing with it, even if they outlaw it or tax the fuck out of it.
I do not think a bank or government may attack on bitcoin in any ways. As long as we do not need bitcoin to be converted in to fiats, then no force will stop bitcoin evolving. You buy and use bitcoin. No one can do with your actions. When everything available for bitcoin, it would be the new government with no rules.
Governments already are... Heavily taxed like Brazil. Or illegal, like Russia.
Just have a quick look at this list, there's a list of sanctions and actions taken against Bitcoin as whole by Country here;
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
So expecting Bitcoin to be immune to Governments... you're in for a bad surprised if Bitcoin start getting bigger, because the attacks will get bigger as well.
October 30, 2015, 09:21:13 PM
It would be so easy for the banking industry to prevent Bitcoin from becoming a major factor in commerce, it is not even reasonable to question the possibility. All the banking industry has to do is offer its own form of digital currency utilizing a block chain ledger and offer it within the framework of their pre-existing online platform....In fact, the banking industry is already working on that technology. Now, will that totally kill Bitcoin? I doubt it because there is an extremely profitable black market trade that Bitcoin will obviously have a monopoly on in the end.
October 29, 2015, 03:18:39 AM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
How does that have anything to do with the Bank being unable to attack Bitcoin? There are a few ways to kill Bitcoin. They could simply brute force their way by getting a huge amount of PH and then doing "51%" attacks.
And considering the size of Bitcoin right now, it would be pretty cheap compared to the trillions of USD they could lose over time to BTC.
I'm not quite sure if the banks want to ride it out by including BTC in their schemes, but if BTC does succeed, Banks and Governments are going to have a hell of a problem dealing with it, even if they outlaw it or tax the fuck out of it.
I do not think a bank or government may attack on bitcoin in any ways. As long as we do not need bitcoin to be converted in to fiats, then no force will stop bitcoin evolving. You buy and use bitcoin. No one can do with your actions. When everything available for bitcoin, it would be the new government with no rules.
October 28, 2015, 04:48:57 PM
The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
How does that have anything to do with the Bank being unable to attack Bitcoin? There are a few ways to kill Bitcoin. They could simply brute force their way by getting a huge amount of PH and then doing "51%" attacks.
And considering the size of Bitcoin right now, it would be pretty cheap compared to the trillions of USD they could lose over time to BTC.
I'm not quite sure if the banks want to ride it out by including BTC in their schemes, but if BTC does succeed, Banks and Governments are going to have a hell of a problem dealing with it, even if they outlaw it or tax the fuck out of it.
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