Bitcoin Forum

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

yes I have same impression.

they are somehow trying to separate entire blockchain technology and principles from bitcoin itself. it is logical, because blockchain can improve their services and help them but bitcoin slowly killing them.

I'm not so technically gifted to understands, if blockchain can works separated and without bitcoin usage..

It's network hash rate would be laughable.  No one is going to mine JPcoin when they can give them selves as many JP coins as they want.  The hash rate of bitcoin is what makes it so powerful, you'd have to convice the miners to jump.. good luck lol.

Noboby will secure transactions (build blockchain) for free (without award)
blockchain without hash power is useless.
So this smells as a bullshit :)

I think they know you can't separate bitcoin from blockchain but they want to spread fear to people in the hope they can buy their coins cheap.
If they do think you can separate it they are unimaginably stupid.

It's obvious they are panicking as shown by their ongoing, constant FUD campaign. At first is was all day everyday with the constant asociations of Bitcoin with criminal and elicit activity, drugs, money laundering, whatever. And now, they are trying to pull this magic trick of separating Bitcoin from Blockchain. When will these idiots learn???

Not really , there is already two big known and famous Banks on France which are planning to add Bitcoin to their system soon and they are in Beta (BNP PARIBAS & Société Générale)

i smell puh

https://www.youtube.com/watch?v=NShCEMZ9wY0

Banks are not interested in bitcoin, but they are in the technology behind in. The blockchain technology to be specific. In this way, you can say: 'yes you can seperate bitcoin from the blockchain'.

i'm sure the blockchain technology would help banks and other instances like nasdaq a lot, but this will not affect the bitcoin itself.

Correct me if i'm wrong

Nasdaq is using the bitcoin blockchain.

blockchain without a token is a centralised database. useful of course. groundbreaking? no.

If you understand how most banks make their money and how the world is basically hostage to the money printing of the the central banks tend YES I would say they are friken interested in Bitcoin and yes they fear it. But they have got to the point that they can't kill it, so they have to join it by making a bastardised version for the masses. I predicted this months ago.

the question is, will that bastardised version still have to do something with the bitcoins we use today or will they create something new on the current technology.

their blockchains will work like Intranets today. it will not affect "our" bitcoin internet of money.

"Permissioned ledgers and closed, centralized blockchains such as Eris, Hyperledger, Ripple etc., rely on trust and central key holders."

Er, I cannot imagine the point of having a centralized block chain. Having a centralized block chain would probably be pointless because no one will ever, ever lend their power to calculate algorithms and confirm transactions without even seeing what they're doing. Well I guess banks are just fooling themselves in harboring the block chain tech but using it against its original intended use (transparent transactions and trust-less system.)

that is indeed what i'm talking about. It will not affect 'our' bitcoin and it has nothing to do with the bitcoin we trade with.

There you have it!
there must be an incentive to put a blockchain to work, and a private bank blockchain would simply be unfeasable againt the Bitcoin Blockchain...

It will fueled by their own servers farm, they don't need that much of a computing power after all, they won't be dealing with spam and micro 'dust' transaction in their version of blockchain.
Bitcoin's Blockchain is susceptible to spam attacks, private regulated blockchain won't be. It will be a perfect technology for them, and banks will get it for free...

Mmmm... Do you smell that? That smell of paper money burning?

http://i.kinja-img.com/gawker-media/image/upload/s--OJWy0kog--/c_fit,fl_progressive,q_80,w_320/19d3bownq4y0fgif.gif

So that they can do whatever they want with their chain......in that case they could simply use a word-document   ;D

Agreed, this has nothing to do with bitcoin as their centralized block chains would have nothing to do with bitcoin in the first place. Also, for a block chain ledger to work, there must be an incentive for working on it. Bank coin?

No question about it.  When Fortune and MIT start reporting and discussing the same...then the idea has certainly gone mainstream.  And this is an old article...

http://fortune.com/2014/11/20/why-banks-fear-bitcoin/ (http://fortune.com/2014/11/20/why-banks-fear-bitcoin/)

improve ?

6000 nodes is not "professionnaly" selled to a entreprise ... to secure a network.
4 data center are better.

that's why Blockchain strategy only work with numbers (like all P2P software since 1999).

I agree with what seems to be your main thrust that decentralization and trustlessness are crucial.  However, even a centralized blockchain allows data to be indelibly recorded (as long as the blockchain is published publically) because future blocks incorporate the hash of previous blocks.  This coulds also be useful for deciding which "buy order" arrived first in the case of trading.  Again, I agree that decentralization is important and crucial for a public project like bitcoin, but I can see utility in a centralized blockchain, just not as great a utility as a decentralized one.

LOL they already had it. Its called database dumb ass....

Why would they need a "farm" to "compute" a database?

You're stupid on so many level, not even funny.

It will,  ppl will quickly realize how flawed their socalled "blockchain" is, and realize bitcoin is what they want. Not some McDonald's vouchers.

Any source?
Because I highly doubt that. Implementing Blockchain yes they will do. But I doubt it will be Bitcoin.

The safest blockchain is the one from bitcoin.
Blockchain without bitcoin is called MySQL.

HONEY POT.



it's to un-cover the bitcoin holder ... and freeze/close the bank account without justification.


a black hole situation when you have business or ... invoince with automated wire (phone, internet, gaz, water, ...)

Dude I know all that.
This is not the point. I wanna have a source where these two banks say that they will use Bitcoin and not oneself created centralized Blockchain. Banks are not stupid. They will NEVER give up power,control and likewise profits if they can find a way to avoid that.
I want to have the source where it is written that BNP Paribas is thinking about using Bitcoin's Blockchain!And even then it would smell fishy imo.

I was recently reading in non bitcoin related article how the most effective way to be successful is to simply try to eliminate the competition,
or at the least try to undermine it - and that is exactly what they are trying to do here.

Bitcoin has come a long way, and with merchants and services accepting bitcoin, and bitcoin debit cards spreading around, people will embrace it much more than before.
I only hope the providers of debit cards find a way to lower their fees to same fees usual bank has, enforcing only a small conversion fee.
On top of that we have more and more bitcoin ATM's, that furthermore show just how far we have come, so the fear they have to bitcoin is justified, it will be the weapon of their destruction one day, or so i hope.

cheers

use bitcoin, HELL no !
they want list all bank custmers that it use bitcoin on exchange ...

source of banks want blockchain : http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/

It simply can not. A decentralized shared ledger without an economic incentive to be securely maintained by individuals around the world is either NOT secure or just NOT decentralized. No different from an excel file shared through dropbox.

The folks that are saying "bitcoin is useless, but blockchain will save the world" do not understand this basic fact - that's simply mind blowing. There's no "blockchain" without Bitcoin (the currency).

no one can STOP Bitcoin  >:(

yeah this is funny bitcoins are useless but blockchain is great thing lol yeah you can smell it in the air and paypal is not even in competition dont compaire paypal with bitcoins, paypal is the most shitty things i have ever seen paypal is most favorite payment options for scamer sadly mostly people on the internet use it and you can not run your store without it

We are going to eat their lunch, every bite. As such, we should try to have some compassion for the masses who'll soon end up bagholders for fiat scrip.

Remember these people did nothing wrong - they were deceived by their banks and governments (https://www.youtube.com/watch?v=iFDe5kUUyT0). They are the real victims here and we should be kind and generous to them.

Do not be so sure of that. If the banks develop their own version of the Blockchain and they get the governments to enforce it, we would be in trouble. Bitcoin would be banned as a currency and the merchants will

not be allowed to accept it as a currency. The governments already tried to slow it down with stupid regulations, but it's still going strong and they survived in the most regulated areas, but at a cost for the

general public. We will soon stand at the crossroads, where you will have to decide if you are going to support Bitcoin or the Ripp off BankCoin.  >:( >:( >:(

it was very well expected of them to start fearing bitcoin and its technology at some point in time. bitcoin is threatening their share of the market, so they don't want to be left behind.

PayPal is going to die if bitcoin becomes big enough that replaces it, because it has very lower fees than paypal with a lot of other perks.

I know what you're saying, the thought crosses my mind a few times a day but the problem is average joe trusts their bank, PayPal etc. How do we ever grow so much that people laugh at the thought of a blockchain without bitcoin involved?

Correct me if im wrong but i was the first person on planet Earth to predict asset securitization using the blockchain  :D

https://adamjritchie.files.wordpress.com/2013/09/pavlich_fistpump.jpg

The time is upon us people. This is the starting point of the future of money.

They can't separate blockchain from bitcoin. Is it possible that they will start using Bitcoin for money transfers ?  :) That will increase transfer rate and will be helpful in stabilizing BTC. Why not promote this idea of 'secure and fast transfers'


Governments can still ban BTC. Why do they need to wait for banks to develop such system ?

hahaha and this is just the beginning, last day i was talking with one of my friends about it, they are trying now to distract people about the blockchain, i mean that i fell that now the good news is that now we have a good tecnology, is like the blockchain is good and the bitcoin is bad, why? :P

btw instead of that they are going to create his own coin LOL.....

Most definitely! Many banks have also showed an interest beside fear. Société Générale and BNP Paribas hiring blockchain experts and announcing potential services on the top of the blockchain can't be but bullish.

I doubt all banks and all governments will take the same stance with Bitcoin. Some will take harder stance, some will be more open, some will surely try and destroy it and some will try to profit from it.

I saw this pic someone posted:

https://www.reddit.com/r/Bitcoin/comments/3eznm7/how_many_here_own_bitcoin_american_banker/

click on the pic to see it big. Its a conference on bitcoin and the blockchain, and tons of bankers were holding Bitcoin :)
Ultimate sign to hold on to your BTC like theres no tomorrow.

That is very interesting, although if it was a conference on bitcoin and blockchain then I guess it's not really a surprise that many people who showed up are bitcoin hodlers.  I'd be super-curious to see such a picture at a non-bitcoin banking meeting---but then that's very unlikely to be asked at a meeting unrelated to bitcoin, alas.

indeed, if the people inside the banking world are holding some amounts, it is safe to say that everybody needs to?

Governments would definitely think of their benefits and they would surely want to earn profit out of it, Even if they make it legal they would impose tax on it, so there would no benefit for an individual, as we know that Government will support only banks and not the bitcoins.

there are a lot of Corporations on the cusp of realizing that blockchain tech is a great idea and will make a great many things better, but they all keep thinking they can use the blockchain aspect without the coin.
the coin is what motivates the miner to secure the network.

They are distracting people as they have a fear to loose their customers and that's the reason they are spreading negative publicity related to bitcoins and blockchain, as they know if it hits the mainstream their business would be definitely in trouble.

This discussion has been held a  times, without a coin there is no incentive, without incentive there is no  blockchain. Mining is what makes the blockchain possible

as we known sms collaps when new text messaging technology came, pager collaps when handphone be popular and postal service to send letter collaps when email came and then the next is banking system will colaps when bitcoin adopted in the most countries in the world

though we are being more careful this time the global economy is a little more important that a service industry

here or there

It's a shame people are so scared of change, especially because it will be a positive change and have many benefits for the people, society and the economy as a whole.

I think once people are more familiar with the idea and become acquainted with BTC they should become more open to it. Threat will see how they can apply the change in the context of their own life and how they can too benefit from it.

No, I'm still very optimistic that bitcoin will be growing big.

Lol if you think banks are really "afraid" of Bitcoin. Do you know how easily they could spam the network for months on end? It costs them nothing.

everybody is going to get on board with bitcoin eventually

the simply thing that they are interested in the blockchain technology without wanting bitcoin, mean that they are a little afraid about it, and they want to take the advantage of the benefit that this tech can provide, in the case bitcoin will be a good contender for them

I agree completely...  I've never heard so much talk about these kinds of new money changing technologies and even worse large companies that are threatened by BTC actually acknowledging the technology (even if only discredit).  I think we could see adoption numbers jump significantly in the very near future.

Even if they aren't open about Bitcoin everyone is holding some. Even if they say "we are not interested in Bitcoin, we just want the blockchain" sort of thing, they are secretly holding lots of BTC, because at the end of the day the guys in the banking world aren't idiots, that's why they are rich.

I haven't thought about it that way, but completely agree with that. Bitcoin has earning potential, and its ups and down provide also a great earn potential by trading...

Those who hold lots of money (banks) will surely play with some Bitcoins to raise their own earnings.

No particular bank is going to go ahead and do that. It would be almost accepting defeat. :)
When the spamming stops / block size increases, bitcoin will emerge stronger.

i don't think there are enough bitcoin for every bank out there there are simply too many, so many of those bank simply don't care or they do not have any bitcoin, which are probably those bank that want to build their own crypto coin, like citycoin the last scam...

Banks have very high disclosure levels / regulatory norms. So it is just not possible for them to go and buy bitcoins ( even if they do believe its price could  become 100x).

Completely agree. Almost all major bank have their own "bitcoin clone" on their drawing board. Gooood. Because bitcoin will in the end be the back bone to connect all thies bank-shit-coins together.

How would it be accepting defeat? If a bank were able to make Bitcoin unusable for a month, people aren't going to sit around in the meantime and just wait for it to subside.

[
Paypal advertising sending money across boarders claming speed and security..
=
[/quote]

Could you give me the evidence for viewing?

i think bitcoin will be more popular after 5 years or more since everyday, more and more users are being aware of what bitcoin is and i think there will be a mass adaptation if this happens. more shops and services will accept bitcoin