Bitcoin Forum

The banks have not realized that bitcoin and blockchains are not for them. Just because they cannot use it side by side with their legacy systems does not mean it has no use for the rest of the people who live in this world. The darknet find bitcoin to be very useful.

They also declare that bitcoin has no killer app yet? Bitcoin is the killer app.

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Fans of the financial ledger technology known as Blockchain may be interested to know Morgan Stanley analysts today unveiled a longish (43 pages) white paper on the state of the technology in the financial services business, declaring that there is yet not “killer app” for BlockChain, but rather “we are now firmly in the middle of the proof-of-concept phase of development."

The report also offers some thoughts about why Bitcoin, the crypto-currency that took off in tandem with Blockchain, has been soaring in value.

Read in full http://www.barrons.com/articles/blockchains-got-no-killer-app-yet-says-morgan-stanley-even-as-bitcoin-soars-1497377427

Well, there are still so many things that can be done relative to or in partnership with Bitcoin. I am not so sure though if there is now a need to have a killer Bitcoin app though that can be nice to have and certainly one area which Bitcoin serious enthusiasts to venture into.

As what I have said before, Bitcoin is so young and we are still considered as pioneers here as there are still so many people who have not yet heard about Bitcoin and have not yet taken a part of the Bitcoin bandwagon.

Not a killer app but a killer utility - keeping our hard earned money away from those crooks.

...and yet, right here on the Press sub-forum front page is a reference to just one aspect of Bitcoin's first killer app: paying for goods "banned" by the international gangsters known by the alias "governments"... [2017-06-13] Bitcoin Is Helping the Pot Business Get Over Its Banking Problem (https://bitcointalk.org/index.php?topic=1965945.0)

I say "banned", because the truth is that the politicians and corporations make money from drugs at the highest of levels of corruption, the international ban on recreational substances was always just a con to control the market and push the price/profits higher (no different to what happened during American alcohol prohibition, the same booze came from and through the same people at 4-5 times the price).

I bet Morgan Stanley know a thing or 2 about surreptitiously processing the proceeds of narcotic sales, huh Morgan Stanley? What's the problem, no Bitcoin CEO to whom you can "make an offer they can't refuse"? 8)

I Agree, bank`s crooks for years robbed people using a cunning system with huge interest for money transfer. And now their leadership ended.

I think banks don't really like blockchain technology period. They think that it will not improved their legacy system. But if you are going to take a close look, it will really improved how they manage data. But I guess they are threaten by the technology that is why they are going away from it. And yes, they want to keep the way they earn money from its customers.

It would be premature to say that banks leadership of the financial system has ended. At most, what we can conclude is that there is technology which can challenge them.
Banks may still survive and evolve.

Naturally a bank-beholden financial firm says there's no "killer app".

Sending value to anyone on the planet, 24/7/365 seems to be a "killer app" to me.

No centralized government "backing" cryptocurrency, or is even needed, since math does the work for us.

Constrained issuance due to algorithmic restraint and resting network resistance -- its very difficult to change any fundamental property that defines a cryptocurrency the larger the network becomes. This is not a weakness, but insurance against straying too far from the principles upon which it was founded. Worthwhile changes get accepted.  "Progress-at-all-costs" changes do not. It is an immune system against moral hazard.

But these dopes don't "get it", because it isn't a stock that has quarterly earnings reports and gives "guidance" to their profits a quarter ahead of time.