Bitcoin Forum

are they really into adopting bitcoin?

This will never happen, at least not with the decentralized bitcoin we know. The banking system is evil, It was designed to enslave people, as simple as that.

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Well you are a little bit right, but surely it is not a 100% evil of our world. On the other hand with the grow of capitalismus its working only on profit and not for people, and thats world system sometimes make me angry >:(

What do you mean by adopting bitcoin? They will not accept bitcoin as deposit method for sure but they might support exchange of bitcoin into fiat and vice versa. Central banks actually want to shut down bitcoin network, but they can't so they are trying to monitor all bitcoin related transactions.

Call me a conspiracist, but I feel like the central bank or it's appointed minions is behind the last sell off, and how all the cryptos seemed to be linked together. They seem hedged somehow. It's like they keep buying the top 30 and keep selling into rallies. They know it's about to blow up and they are trying to control it...

Won't matter what they think or say, they couldn't do anything about it even if they wanted to,one thing they could be doing is taking control of the system by either mining or accumulating enough coins, they are unfortunately doing both as we speak and all we can do about it is stopping to sell our bitcoins.
We need to stop selling completely. bitcoin is scarce, there will be no such opportunity for individuals like us to have, which is shareholding the future.

My country central bank warned people that bitcoin may be dangerous and people use it at their own risk. But they give e-money business licenses to few local bitcoin exchanges. So, they are not totally against bitcoins.
But I don't think that soon they will adopt bitcoin fully. There are no effective tools to control and regulate bitcoins. And I think they under pressure of banks to not recognize and adopt bitcoin.

In my country Philippine Central Bank recently approved new rules and regulations governing the operation of virtual currency exchanges. Bangko Sentral ng Pilipinas (BSP) defines virtual currency (VC) as, “any type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.”

The Bangko Sentral recognizes that Virtual Currency systems have “the potential to revolutionize” the delivery of financial services, “particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both  domestic and international, and may further support financial inclusion.” However, the bank does not intend to endorse any VC, “such as bitcoin,” as a currency, “since it is neither issued or guaranteed by a central bank nor backed by any commodity.”

Central bank have already recognized the potential of bitcoin and they have already started working on development of their own blockchain based currency. Rather than adopting or accepting bitcoins, they are willing to create their own centralized crypto.

Ah... they will... when pigs fly.

I wonder how that currency is going to perform with their full support and push towards it. They will do the impossible to beat Bitcoin. But I also wonder, why do you make a new centralized currency when you have Ethereum?!

In the beginning of bitcoin, bank being centralized system, there were countless debates regarding use of a decentralised form of money. Bank used to ridicule bitcoin at one point. But now they know the potential of cryptocurrencies and four global banks have confirmed that they will be launching their own bitcoin like digital token, leveraging the technology behind bitcoin (Blockchain) by the year 2018.

No, definitely not. Bitcoin is designed to replace all central banks, and all commercial banks as well. No longer do you need a government to take care of the monetary supply, and worry about whether or not they are honest with their business. No longer do you need to worry about frozen accounts in commercial banks, chargebacks because of stolen credit cards, and expensive overseas transfer fees and high forex exchange rates.

If bitcoin is able to solve all these things, obviously then banks don't want it to become mainstream - because banks ultimately need to generate money for shareholders, whilst bitcoin doesn't. If bitcoin goes mainstream, then government can't keep their grip on the economy, banks can't charge fees to make lots of money, etc. which is why they are opposed to it. China's central bank is making every bitcoin withdrawal/deposit restricted by having people provide proof of income first, and if there is one dirty spot then you're screwed. Banks in my country are freezing bitcoin trader's accounts. It's really quite sad to see banks not embracing this technology, but obviously they have a conflict of interset.

We don't need no Central Coins!

the central bank here says nothing about bitcoin so far, but it is possible they adopt bitcoin some day. it has nothing to do with its decentralization it is all about how they can earn money from it.
imagine if bitcoin is mass adopted and used by many. it is a currency and like any other currency banks can easily earn money from it by offering their services: bank accounts, loans, credit cards, ...

This will probably never happen due to the reason bitcoin is decentralised and the banks are centralised. They are enemies so why would the banks adopt bitcoin, they are probably opposed to bitcoin and the entire currency sector of cryptocurrencies. The central banks have not really said anything about bitcoin yet but it is still possible for bitcoin to be adopted by the banks, especially if bitcoin becomes more popular and becomes accepted by everyone and most merchants. Google invested 40 Billion in bitcoin recently

Yes , they will accept it , Since here we have many bad things with it like gambling , illegal activities , foreign payment without taxation , worldwide deals without much restrictions and many more but still there is no chance to ban it because many people are involved in this and living Thier life with the Bitcoin earnings only , now let us assume that the central government banned the Bitcoin then what will happen , now you will came at the road so he will surely use VPN service to access the Bitcoin because Bitcoin can't be ban .
So here people have many ways and reasons to use and no one can stopped them to use , so here instead to ban they will make few struck rules so that no one can do bad things with this technology of blockchain .

I don't think they are adapting bitcoin and will ever adapting bitcoin, the central bank policy is totally opposite with bitcoin policy, if the central bank really adapted bitcoin there will be some bitcoin feature like anonymous and decentralised no longer available, so I don't really hope that central bank will lay it's finger on bitcoin, eventhough it will help bitcoin increasing faster but bitcoin will lose it purpose

I also think bank will not adopt Bitcoin or cryptocurrency and they should not adopt. If by mistake or any circumstances they adopted Bitcoin then Bitcoin will lose his "value". But Government should legalize Bitcoin  and can put tax on transaction  but they can't adopt bitcoin. Bitcoin Is Unique For Forever.

I think they were happy to regulate the issue of Crypto-currency. As soon as they are given an official status.

What are you saying exactly? that both SegWit and Lightning network are meant to centralize bitcoin?

Nope, you are wrong. The banks will never be happy with any kind of competition for their monopolistic exploitation. Why would you be happy if a competing technology wants to replace you with features that will give the unbanked access to the financial world and undercut your service with cheaper transactions and near instant international transfers? < after the scaling solutions are in place >

The only reason why banks survive is because they have the backing of the government. < As seen, when they were bailed out during the last economic collapse, when tax payers money were used to bail them out. >  ^grrrrrrrrr^  

Yes you right!, bank don't adopt bitcoin they just recognized it as virtual currencies and they can put some guidelines on it.

I think they are very afraid of the independence and utility of Bitcoin. There are two main trends: either studying the way bitcoin is doing, or trying to get rid of Bitcoin. However, they all share the same traits of always watching Bitcoin and implementing services that attract customers to survive.