Bitcoin Forum

China and Russia are investing in gold big time and it seems like global market crash is coming very soon. check the news. What are the chances everyone move to digital money?

I've also heard that some world banks have shown the interest about Bitcoin, besides blockchain technology. Also that some are secretly investing in Bitcoin despite the public rebel and hate speaches aginst cryptocurrencies, especialy Bitcoin.
Like they say, if there is a smoke, there is also the fire. It wouldn't surprise me if this was true.

Chinese people seem love to bitcoin and it is the country with largest amount of bitcoin miner so basically china is already collecting bitcoin but what Russia is doing behind the scene is unknown. But even if any country start to grab few bitcoin to hold for worst economic situation in future like during worldwar they will grab it silently and i highly doubt any country to announce this officially.

What banks do you mean - investment banks or central banks? I don't think it's probable that we will see banks moving into Bitcoin anytime soon. Banks have decided to go full altcoin a while ago by promoting "blockchain technology" as a new method of operating a centrally controlled database. Their cognitive dissonance and outright stupidity coupled with a extreme feeling of self-importance doesn't allow them to simply use Bitcoin. Besides that, Bitcoin makes banks as we know them pretty much obsolete.

If central banks would be wise they would buy Bitcoin now at very low prices to keep them as valuable assets that could contribute significantly to a nations economic power in a post-fiat era. But I doubt that there are many progressive thinkers among the established banking elites. After all, most central banks started buying gold, after it already had become significantly more expensive and the BoE sold its holding at the absolute low in the early 00's...

ya.ya.yo!

As far as I know from different media news is that banks have invested and are interested in blockchain technology alone making is separate from Bitcoin. Banks never accepted Bitcoin and will never do since it has snatched big share of online transfers and transactions which was good source of income generating was banks.

Wow is a great news because I had seen less love for bitcoin so there is less buy and sell and bitcoin is in stable stage. If bank move towards bitcoin the then there would be a good chances of price hike.

it is just a matter of time... they will come to bitcoin.
of course FIAT will always be the main currency for banks, but why wouldnt they accept bitcoin too(wallet, conversion and other services)?

Define the word "Soon". There might be a slim chance near to zero on what you are talking about, local businesses have not even touch cryptocurrency yet and you are expecting that there will be a bank for bitcoins. Banks are run by smart people they know that Bitcoin is very volatile in which the chances of having a high price are the same as having a low price. I am guessing it won't happen as Banks regulated by the government also.

I heard a Spanish bank is experimenting sending money token on the Ethereum network. I do not know about the bitcoin.

China has always had a appetite for gold and grabbing it all up is no change in the way they go about business.

The reason I wanted to reply to this thread had more to due with why people are constantly thinking the world economy is going to collapse. When people are in a fear based mindset they tend to think in a unhealthy way when it comes to their investments and they are scared to ride any type of wave. So they pull out as it goes down and jump in as it mid way up and miss the whole point of investing in things,not to mention the fees.
Obama talks about guns a lot and we all know what happens when he does this,the sales go through the roof.
Fear drives the market and our dinosaur brains react to fear more than any other stimulus.

I would always be buying a little gold for rainy days and the swings do not play into my decision making on when to buy as much as I am still buying.

I doubt that you will see any bank moving straight towards Bitcoin.
Before that happens, they will try and test out everything they can with Blockchain.And that can be many years!
But who gives a damn if banks are interested in Bitcoin or not?
Bitcoin was created to have the possibility to live your life without banks!!!

I read many articles talking about the increasing use of Bitcoin in several countries where there was political or economic bad events, one of these events the previous coup in Turkey, whereas some turkish people were buying Bitcoin while the Lira ( the currency of Turkey) was falling, therefore Bitcoin and Gold will be the greates beneficiaries from any economic collapse.

I agree with the majority of the people who have already posted in this thread that it will be a long time until banks move towards Bitcoins and I am not sure if Bitcoins or any other cryptocurrency will ever replace paper money. The reason why so many people are fascinated with the prospect of Bitcoin is because of the anonymity of it. For Bitcoins to be accepted by banks, it would have to be legalized and the anonymity would have to be dropped. For that reason, I don't see it happening any time soon.

yes it is really going to be in near future. The banks must have to accept bitcoin and they will rally make wallets for bitcoin and will allow people to use banks for bitcoins transactions.

My own view on this whole matter about banks is that with the investment and infrastructures devoted to this, its still subjected to government approval which wont come without a cost. Even with government showing interest, then I see the cost being greater in the sense that some of what we enjoy today as users of bitcoin will be out under test where someone can send me money from another part of the world, without any regulatory or bank or government knowing then I see that eroding very fast. Among all its a development in the right direction.

bitcoin can't replace bank or fiat money
bitcoin only digital curency not real curency

You should not believe everything you see in the media. They have been predicting a economic collapse for years now. The Doomsday

Preppers have been using that as a reason for hoarding canned food, for just as long. The governments of the world will come with more

Bailouts until they are sucked dry, and then they will dive into the Pension funds. If you want to prepare for the economic collapse, you

should buy some physical goods you can trade, when things get tough. { Cigarettes / Canned food / Clean water } but if you want to

protect your wealth, you should buy Bitcoin, gold and silver.  ::)

google hyperledger,
this is where all the big banks are involved.
but they are not working on using bitcoin just "some" of the technology that bitcoin uses to mak their own private network

there are national banks, commercial banks
UK: Barclays, Royal Bank of Scotland, bank of england
France: BBVA, Société Générale, Banco Santander,
italy: UniCredit, Intesa Sanpaolo
bank of india
Commonwealth Bank of Australia, National Australia Bank,
UBS. Skandinaviska Enskilda Banken, Nordea, Danske Bank, Scotiabank,
Commerzbank, Deutsche Bank,
Bank of America, BNY Mellon, Citi,
HSBC, Mizuho Bank,
Royal Bank of Canada, Canadian Imperial Bank of Commerce.

and then the more private firms
BNP Paribas, Wells Fargo, ING, Macquarie Group, BMO Financial Group, Natixis, Nomura, Northern Trust, OP Financial Group,  Sumitomo Mitsui Banking Corporation, U.S. Bancorp and Westpac Banking Corporation.
SBI Holdings of Japan, Hana Financial of South Korea, and Bank Itau of Brazil, Toyota Financial Services, Credit Suisse, Goldman Sachs,J.P. Morgan,
State Street, Mitsubishi UFJ Financial Group, Morgan Stanley,

there are more. but feel free to research how many fingers of worldwide banks are involved in hyperledger. it will shock you

Yes most banks have decided to use block chain mechanism used in Bitcoins because of its high security.They find it worthful to save details in block chain mechanism

Banks will never use bitcoin... They just want the blockchain, just check it...
Btw China is f****ng the world economy lol

Well, I don't know about gold but I believe OP on that. China is hugely known for its mining farms. I remember that a few months ago there used to be many threads on this topic here. That China is conquering Bitcoin and can even destroy it, becoming a monopolist. Russia is known for making quite good TV programmes about Bitcoin. Maybe, if they buy gold, they do it for people to start using Bitcoin? ??? :)

How China can destroy Bitcoin?
Buyer just help to the price goes up, and well, if they don't use it, just old, sometimes they will have to sell and the price will go down again, China is a big country, how many people are on this? 0,01%

World economy will crash eventually, in last 15 years we saw couple crises, but next one can he big crash.
Chances for world to move on digital currency are pretty realistic to me, that will not be in same moment in all world, but if we see few states adopting digital currencies that can start new trend in world.
Gold is gold, big countries will always invest in that, I think that some big countries already invest in bitcoins or some alt coins, but of course they do it secretly. How would they explain in what they are investing to taxpayers.

i don't think that bank moving because of bitcoin, maybe bank is interesting with blockchain technology because is decentralized and bitcoin offers many benefit for user.

In a short answer, I'm going to say it's impossible. It means other corporations moving towards Bitcoin, which is anonymity. Governments will NEVER agree with this idea of being anonymous.

yes i think very soon banks are going to accept bitcoin for transaction as well as for depositing purposes and that is only possible when banks will  introduce walllets for bitcoin where people will deposit bitcoin as they deposit fiat currency in their banks.

China and Russia are investing in gold partially because the world economy is going to shit and there is a high likelihood that fiat money will become worth far less than it is valued at now very soon. It is unlikely this will be a catalyst to move a majority of the world to digital currencies, and it is more likely we will see a continuation of fiat in some form or another, unless something happens.

I am not sure that the bank will move to bitcoin but if it is true then it is a great thing

And you think people would do that? Not at all, lets suppose, if you have the option to keep your money at home which will be as safe as kept in a bank, then won't you choose to do that rather than giving them in a bank? Ofcourse you will, so if people can already keep their bitcoins with them without letting anyone know about it why would they like to keep their coins in a bank wallet which will be in control of them?

The one lot of banks here trailed bitcoin privately and tested it but they didn't use it and I'm unsure why. THey never disclosed this.
I don't think it is suited for banking since it is not designed that way and will never be used that way. So I am not surprised they banks didn't want to use it. Bitcoin is for the people not greedy corporations.

I think is quite possible,  because crypto currencies has become a hit lately, and the feature that crypto currencies is very suitable for their needs and usage which is anonymity and unlimited transaction, and because bank can't provide these two main feature i dont think the bank will adapt or merge with bitcoin soon

May be bank wallet will give the bitcoin owner guarantee of security. And I agree that it will make bitcoin dissemination goes further. Unfortunately bitcoin transaction is still need a few minute now. The customer will get litle bit borring to wait the transaction finish. But I am sure that the concept of bitcoin is what the future need.

Why not buddy, I think you haven't read the news from citi bank of new york. Citi bank completely agrees that bitcoin would be more profitable and added benefit banking. Its a official news from the citi sector. You can google it and find that information.

This is quite unlikely to happen in near future, why would bank gonna allow direct deposit of bitcoin and withdraws as they can't keep track of the source of funds and even if they will allow this they will implement heavy limitation on amount you can deposit or withdraw via bitcoin.

Banks need to keep track of all the incoming and outgoing transactions to comply with the national/international financial acts and accepting bitcoin will make them unable to do this. But you can see right now also, they can't stop people funding bitcoin trading platform with direct bank deposit to buy bitcoin as well as people using bitcoin debit cards to withdraw their bitcoin from any visa/mastercard accepted ATM machines.

Dislaimer: blockchain of bitcoin network is secure because it is backed by huge decentralized processing power.
Do you think that private bank's blockchain with processing power of couple dozens of server station will be secure?
It will be nothing more that glorified database.

i think that is their goal! or at least some of them are like this.
they are not looking to adopt bitcoin.
they are not looking for replacing bitcoin with their coin.
whenever i read something with banks and bitcoin, they are only saying "we love blockchain [technology]" and they want to adopt the technology to make their own internal transactions more secure and easy.

The irony is, a few years ago I had a argument with a investment banker and he told me Bitcoin or the Blockchain will never disrupt the banking service, because the banking service will adapt to the threat. This was long before the R3 group decided to steal the technology.

His words stayed with me for years and when I saw Mike Hearn being recruited from Bitcoin and the trash talk that happened after that, I realized how ruthless these bankers will be, to retain control of the worlds finances, with the help of our governments.

We have handed them a technology to make even more profits to exploit the poor and middle class. The true disruption would have only been possible, if Satoshi had patented the technology and all intellectual property rights belonged to him or her or them.... whoever they are. ^hmmmmm^

It is very llikely bitcoin will take the position of bitcoin.

I don't think so, banks will still take over and control the flow of bitcoin on a certain country. But they won't able to control the price of bitcoin.

Unless they are going to create their own exchange site and policy for the value of bitcoin for their country.

I hope this won't happen.

Nice comment! Probably even you don't know what you wanted to say with this, " very likely bitcoin will take position of bitcoin". You are really 2 good, how much time you needed to write this piece of art?

Bank will never turn toward bitcoins, I just don't see what kind of roll they can play in bitcoin community. Banks can only try to come into blockchain on other way, or to just be investment company like we see on the internet. But I don't trust them, so what ever they decide to do I hope they will not succeed.

it's gonna be awesome if bank move towards digital money because all long the way from ancient times form is money had changed from barter system to silver and gold coins and then to paper note and now we have  digital currency. so definitely there should be change in money so that we could move with trends and Technology.

Pls check out what Swiss tier2 Bank Vontoble has realized.

Valor 32760611 ISIN CH0327606114 Symbol ZXBTUV


And they loudly speak of bulding a direkt wealth depot for Bitcoin


Today there is big news from national Swiss railway comp to sell bitcoin at their terminals!!!

http://www.sbb.ch/en/station-services/services/further-services/bitcoin.html

Banks are already pointing their fiat system and entire way of doing business to a digital form. If you live in a well developed country, then you'll notice how banks are trying to force contactless payments through in order to push back the usage of cash money. I make use of exactly that and can honestly tell you that this system works more than well. Payments settle instantly without any fees, stores can instantly send back money for items you return, etc. It's a solid and effortless system. Very difficult for Bitcoin to get its foot on this ground.

As i know banks do wanna save the huge fees they pay between them, soo its logical to think their blockchain will be internal, people wont have acess to it, maybe banks do make some crypto coin, but its unlike to happen, and wouldnt be beneficts, maybe they would make a savings into those cryto coins. I do believe maybe some bank its already at crypto world, banks do like profit, crypto world is allowing anyone to get and achieve those.

1. I don't particularly see any significance whether or not they invest heavily in gold. Could be a number of reasons for that.
2. GLOBAL market crash? and it's SOON? Really? Where is this based on? Can't remember how many times I've seen this.
3. Could have provided said Doomsday article. Coulda been a fun read.
4. Digital money doesn't really automatically translate to Bitcoin. And I also think banks are at the polar opposite of bitcoin. That's like centralized and decentralized. Two completely incompatible things. So frankly, I'm not really putting much stock into banks going for bitcoin.

Well that's sounds great news anyway, I also heard that many of the banks in the other country are adopting the system of bitcoin. Most of is true investing secretly and I don't know why there doing it for awhile.

Yeah banks do that nowadays in relation with modernization. Since people ar now busy and they have a compact schedule. They now don't have time to go to somewhere to pay bills, uy stuffs and etc. So, te banks are now operating online just as what bitcoin is doing. But, the advamtage of bitcoin is that, it offers us to have a money by doing stuffs which banks cannot give us.

In short, I think I will stick with bitcoin rather than banks as it gives me an opportunity to earn while surfing the net.

People should forget about this as it will never happen.

The only thing banks and other organizations are interested in, is the technology that powers Bitcoin, the Blockchain.

The coin aspect of Bitcoin is something they don't like and never will. And honestly speaking I can understand that as Bitcoin goes against all their values.

Just think about it, will you use something that can disrupt your organization? Exactly. ;)

I don't think investing in gold's going to bring in a big market crash, if that's what you meant. Also Banks aren't happy particularly about accepting Bitcoins. I know there are a couple who have accepted it and it's just in countable figures, but almost 99% of the banks would prefer to invest in Blockchain technology, develop their own form of virtual currency and have that circulate in the market rather than support Bitcoin.

They can move towards bitcoin in order to make quick money but it will only speed up the inevitable process: the total destruction of the fiat banking system.

The beauty of bitcoin is that you can't make it out of no where. It should have been same with gold but banks found how to cheat on those. Most of the banks offer gold accounts for their customers. In those accounts they show you how much gold you have. It is the same crap as showing your account balance in $$$. As you know, Deutsche Bank actually refused to pay in gold to its customers.

http://www.zerohedge.com/news/2016-09-01/xetra-golds-responds-deutsche-banks-failure-deliver-physical-gold

They can't pull this crap with bitcoin. If they can, it means people are way more stupid than we already think they are.

Are there any banks which accept bitcoins? Regulations in most countries will prevent them from doing so.
Even if banks want to accept bitcoins, they are bound by regulations.

China is too much into Bitcoins already and about Russia, they won't be allowing this giant so easily to spread at their places...
Chinese Government might allow their banks to get into this as they always go there first, where they see profits...

For the time being, Chinese Government does not allow their banks to get into bitcoin. That is the policy since late 2013.

Most of the major players will move to gold and maybe oil.

I don`t think that "everyone" will move to digital money.Virtual accets aren`t very attractive during a

crysis.

Moving towards Bitcoin is definitely adopting the system and technology that Bitcoin rests upon and not that they want to start using Bitcoin as a form of currency I believe that mis-conception should be cleared and that is the highest we can get as the banking system has evolved over centuries to be what it is today and they are still standing. If its adopting Bitcoin as a currency then I say is beyond the powers of Bank because they themselves cannot decide that a currency whether digital or paper is now a "LEGAL TENDER".

Here is the answer what the ECB is thinking about Bitcoin:

http://www.zerohedge.com/news/2016-10-19/ecb-wants-curb-bitcoin-use-over-fears-it-may-lose-control-over-money-supply

There are some advantages if banks adopting bitcoin, I think they can't control it or make it centralized as the system set that way except everyone sell theirs coin to banks. I mean, it will like bank investing in bitcoin and people simply could convert their money to bitcoin and vice versa, but only if the state legalized bitcoin to adopted by banks and as accepted payment everywhere which seems impossible, lol. But at least bitcoin still have it own market that will develop and has massive adoption.

Already Citi bank newyork announched these advantages in the press meet about bitcoins advantages and its uses in the banking sector. This official information was provided on last month. I guess citi bank will adopt bitcoins as the payment and transaction medium soon.

Big countries like China and Russia are countries that are not just big for nothing. This countries are one of the most powerful country because it is rich, why? Because people in this countries are not narrow minded in all aspects of things especially when it comes on how their country would be a success on everything. It doesn't surprise me at all if China is interested in bitcoin because bitcoin is really interesting when we are talking about privacy and transaction speed.

it is true that if bank adopt bitcoin there will be a huge advantage for the bank and the user, the bank transaction flow is bigger and the user easily buy and change bitcoin to fiat, however both of them have a different purpose and even the bank want to adopt bitcoin the government will not allowed it, but for me it is better bank and bitcoin are separated

China is very modern country with high technologies and smart brains. Yes they are number one now with using bitcoin. I think it is cause of they are realise all the pluses and pespective of bitcoin. And russia already get it. So that is why Russia wants to make frienship with china and use their ideas.
I heard on the news that some expert in China predict the price to bitcoin as 1 mln $ and advice to everyone to by at lest one bitcoin. I think Russia does not want to skeep that great chance.

I guess it will not implemented soon, banks moving towards
bitcoin may consider a lot of things before it will released.
We all know that bitcoin is decentralized, also if this will
happen many will adopts its changes.

I dont think so. Banks are centralized while bitcoin is the opposite of banks. What will happen to banks if they start adopting blockchain technology? These two are very different and against each other. For that to be happen, banks should be decentralized in able to work well. I really doubt this will be happen even in the future.

I don't see banks moving towards bitcoin as well.
Bitcoin has a market capitalization of about 12 Billion $ at the moment.
That's not much for the big banks. Isuppose it's too less to even think about a bitcoin strategy.
By the way, if a few banks would realy invest in bitcoins, the price would rapidly rise.
They would create anothere bubble at the financial markets. And that's something they don't need now at all.

Nope, and it means blockchain doesn't work if the bank wasn't using the decentralized system? It wrong at all. Blockchain is a system and it can be customized.
Why a lot of press or media were releasing some news about the blockchain has researched by the conventional institution?
Your word wasn't making sense.

I heard that already that bitcoin has provide by the bank. We can directly put our Bitcoin in bank.

Not with all banks, but I recently come across with wb21.com through Xapo's USD deposit options. wb21 is an UK based banking services and they are accepting bitcoin deposits. It means we can sell our bitcoins with them and may start using fiats through their debit cards. One noob question here : what is the differences with them from coinsbank.com, a reputed services.

many others are also investing in bitcoin but that is not because of global and economy crash in the present or possibly future. it is mostly because everyone is starting to realize the power that bitcoin has.

and you subject that is saying banks moving towards bitcoin is another story which will happen but not until bitcoin is adopted by masses.

We can exchange bitcoin from some exchanger that partnered by banks we can not directly to exchange bitcoin in the banks i never heard about that but i hope in the future that we can have a bitcoin banks which is we can deposit and withdraw bitcoin in the banks.