Obviously they will invest in blockchain technology; it has huge potential to reduce costs for them.
Bitcoin - they will ignore it until it is no longer possible to do so without hurting themselves.
Topic: Will the Banking Industry kill Bitcoin and keep the Blockchain? - page 7. (Read 8859 times)
October 13, 2015, 07:40:31 PM
October 13, 2015, 07:20:27 PM
Well, I always thought they can try and do whatever things they want but they can never take out bitcoin. The centralization part is very obvious and no matter how nice that might sound having the blockchain name on it with an open ledger, it is still subject to banks centralized control.
October 13, 2015, 06:14:22 PM
I think that the banking sector will primarily ignore bitcoin and focus on the blockchain techonlogy rather that try to destroy bitcoin itself.
If the Bitcoin volume become too big, that will mean there will be a much lesser volume being used in US, CAD, Euro, etc, everything.
If the demand is lowered for USD and Cie then their value will drop, as such that could be a huge economical threats those big countries and then they might regret not killing Bitcoin when it would of only cost 1 billion USD.
October 13, 2015, 05:20:28 PM
I think that the banking sector will primarily ignore bitcoin and focus on the blockchain techonlogy rather that try to destroy bitcoin itself.
October 13, 2015, 05:07:26 PM
Every financial institution and every Bank seem to have their eyes set on the bitcoin and bitcoin these days... But being Bitcoin as a currency the main competitor to banks and the traditional financial system, won't it be possible to see Banks trying to stifle bitcoin while investing in the Blockchain?
They might use their own blockchains but it wont kill bitcoin. Bank's blockchains will just be centralized and wont be their own currencies so bitcoin will still thrive as an alternative to the mainstream and that's why it is still valuable.
They were researching ripple and considering starting their own blockchain based on its technology, but it's centralized. If the server, or set of servers running it go down then the entire network goes offline. A government, hackers, or the banks themselves could switch off the network by going after the servers.
The Bitcoin network never goes offline, you can always access your money stored in it. Sometimes the bank's debit card network goes offline. If they had their own blockchain that wouldn't be reliable all the time either.
October 13, 2015, 04:40:47 PM
You can't kill Bitcoin, as we've seen time and time again. They've tried with technical attacks, and they've tried with trojan horses (XT) but it's not gonna happen. Bitcoin will remain strong and decentralized for life. Every living banker will be dead and Bitcoin will live on. Might as well deal with this. The only banks that will survive will be the pro-Bitcoin ones. Anti-Bitcoin ones will be seen as idiots that missed the point.
If they want to kill Bitcoin, they can by making a super datacenter and overtaking the blockchain. Its not impossible to do, i'm just guessing BTC is not enough of a threat to any government to warrant such a high handed attack against Bitcoin.
October 13, 2015, 04:39:34 PM
There are only 2 types of blockchain: The bitcoin blockchain and alt-coin blockchain. If banks would like to have an alt-coin blockchain, it's up to them to do the marketing but what is the deal when they already have fiat coin
I think that even alt coin blockchains would be better than any bank blockchain. At least the majority of these all blockchains are decentralized, something that any bank blockchain will never be!
October 13, 2015, 04:24:35 PM
There are only 2 types of blockchain: The bitcoin blockchain and alt-coin blockchain. If banks would like to have an alt-coin blockchain, it's up to them to do the marketing but what is the deal when they already have fiat coin
October 13, 2015, 12:35:06 PM
You can't kill Bitcoin, as we've seen time and time again. They've tried with technical attacks, and they've tried with trojan horses (XT) but it's not gonna happen. Bitcoin will remain strong and decentralized for life. Every living banker will be dead and Bitcoin will live on. Might as well deal with this. The only banks that will survive will be the pro-Bitcoin ones. Anti-Bitcoin ones will be seen as idiots that missed the point.
October 13, 2015, 11:14:05 AM
I don't think banks or governments can do anything to stop bitcoin..To stop bitcoin protocol they have to stop all the people using bitcoin network and blockchain and it's impossible for them to do so..Infact,there are many altcoins too..Government and banks will finely have to accept bitcoin in the future 
Bitcoin is created for the people and if it ever burst then it would be because of it's users only.
Bitcoin is created for the people and if it ever burst then it would be because of it's users only.
Problem is, Bitcoin is being controlled by people too. And they don't have the punching power to make it truly adopted by a mass audience, say for instance a country.
Governments however can make this happen, and have the resources to make adoption real fast.
October 13, 2015, 11:04:47 AM
I don't think banks or governments can do anything to stop bitcoin..To stop bitcoin protocol they have to stop all the people using bitcoin network and blockchain and it's impossible for them to do so..Infact,there are many altcoins too..Government and banks will finely have to accept bitcoin in the future
Bitcoin is created for the people and if it ever burst then it would be because of it's users only.
Bitcoin is created for the people and if it ever burst then it would be because of it's users only.
October 13, 2015, 06:45:28 AM
Every financial institution and every Bank seem to have their eyes set on the bitcoin and bitcoin these days... But being Bitcoin as a currency the main competitor to banks and the traditional financial system, won't it be possible to see Banks trying to stifle bitcoin while investing in the Blockchain?
Do you see a current financial system as sustainable in the long-term. Do you think that this never ending debt increase society is sustainable even if they implement their own centralized blockchains?
No way! Balloon will explode sooner or later. So let the may the infrastructure for us. Let them learn people how to send transactions and manage their wallet. When they fall apart, and they will just like they started falling apart in 2008/2009, then we will take over.
October 13, 2015, 06:29:10 AM
bitcoin will kill banks no doubt
Banks can use bitcoin as a currency. They will adept.
They simply aren't that stupid.
Banks will never 'use' bitcoin as a currency, they have the money to make their own blockchains and or add value to them in far greater magnitudes than the entire Bitcoin Market Cap. If you haven't realised already, banks are all about control.
October 13, 2015, 06:18:34 AM
bitcoin will kill banks no doubt
Banks can use bitcoin as a currency. They will adept.
October 13, 2015, 05:44:35 AM
Although bank owner have already started to buy and sell bitcoin to make a lot of profit using the fake news as well as mass buy. I think that was the reason why bitcoin drops from that 1000 mark in past. Bank will adopt blockchain in future and will try to drop the bitcoin market if bitcoin couldn't get huge market (merchants) by that time.
October 13, 2015, 05:33:34 AM
The whole pint of bitcoin is that exists outside of the corporate machine and is its own authority that can't be tampered by a central entity. Banks using their own blockchain systems wont help bitcoin but it might help legitimize the technology but bitcoin will find its own niches and continue to be used by those who want to transact outside of the corporate machine.
October 13, 2015, 04:53:33 AM
private blockchains are completely different than public blockchains
do you understand the difference between private property and public property?
well then let me teach you
How long would you let the general public park in your yard, sleep in your house, and use your private toilet before you got pissed?
Now tell me that the utter existance of your private land, house, and toilet negates the need for public parking lots, campgrounds, and toilets (because both you and the general public are more than happy utilizing your shit for everyone's parking, sleeping, and shitting needs)
Do you see the utter folly in this strawman yet. The banks are trying to tear down the public toilet and install their pay per poo stall on top of the same sewer! Here's a rule to live by: follow the money: Anybody who thinks that this is a good idea or is propagating this propaganda or tries to scare bitcoiners to dump their coins is working for the bank or getting paid by them.
TLDR- anybody bringing up this topic as an actual arguement that the existance of private toilets negates the need for public restrooms is either evil or stoopid
do you understand the difference between private property and public property?
well then let me teach you
How long would you let the general public park in your yard, sleep in your house, and use your private toilet before you got pissed?
Now tell me that the utter existance of your private land, house, and toilet negates the need for public parking lots, campgrounds, and toilets (because both you and the general public are more than happy utilizing your shit for everyone's parking, sleeping, and shitting needs)
Do you see the utter folly in this strawman yet. The banks are trying to tear down the public toilet and install their pay per poo stall on top of the same sewer! Here's a rule to live by: follow the money: Anybody who thinks that this is a good idea or is propagating this propaganda or tries to scare bitcoiners to dump their coins is working for the bank or getting paid by them.
TLDR- anybody bringing up this topic as an actual arguement that the existance of private toilets negates the need for public restrooms is either evil or stoopid
Well that is nice explanation what is different with BTCitcoin and what advantage it has on this banking blockchain system it is totally crap and nobody can make scare of BTCitcoin it has more strong community and adoption around the globe, everyone can use it without any personal information so what bankers will do this.
October 13, 2015, 04:49:07 AM
Every financial institution and every Bank seem to have their eyes set on the bitcoin and bitcoin these days... But being Bitcoin as a currency the main competitor to banks and the traditional financial system, won't it be possible to see Banks trying to stifle bitcoin while investing in the Blockchain?
They might use their own blockchains but it wont kill bitcoin. Bank's blockchains will just be centralized and wont be their own currencies so bitcoin will still thrive as an alternative to the mainstream and that's why it is still valuable.
October 13, 2015, 04:46:20 AM
There will always be a need for a trustless, permissionless cryptocurrency. If Bitcoin dies it will be because of itself, but no banks' blockchain will be able to provide for the use cases Bitcoin fulfills. Since there will always be a need, Bitcoin can only be replaced by something better for those use cases.
Yes i will do agree with you i also don't think current banking system shifting after on blockchain can make bitcoin in trouble because at the moment is more popular around the globe and people love to use it for its faster speed and freedom.
October 13, 2015, 04:36:54 AM
There will always be a need for a trustless, permissionless cryptocurrency. If Bitcoin dies it will be because of itself, but no banks' blockchain will be able to provide for the use cases Bitcoin fulfills. Since there will always be a need, Bitcoin can only be replaced by something better for those use cases.
Jump to: