Bitcoin Forum

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain  cryptocurrency project,which first launched in 2015,  which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

So if news like this already appears, we just wait for bitcoin prices up to 100,000 USD, I will keep my coins in a very long time

I think it will not be possible for any bank of the world to kick out the bitcoin because of their own crypto digital currency, because the people will hardly accept the coin of a specific bank.

If it so then all the nations will definitely prefer to their local paper currency. It is possible that may be the banks thinking of a huge scam, and in my opinion I will never accept any other bank currency instead of bitcoin.

No sane person would ever use a cryptocurrency made by a bank.
This completely defeats the purpose of cryptocurrencies which aim to be trustless, decentralized and (to a certain degree) anonymous.
Therefore it's safe to say that a bank shitcoin won't 'kick-out' anything.

Whatever special features the coins created by banks have,still they are centralized and i don't think that people would once again wish to get caught in the hands of banks and governments.Another thing is that those coins will not be volatile in nature due to control by authorities unlike bitcoin.But bitcoin is loved by traders and some people for its volatility to make huge profits.More over,those coins would not be universally accepted and they may get a few attention from people who don't even know about bitcoin.So.those coins would not be able to challenge bitcoin.

It is impossible to kick out bitcoin. If the banks make a new crypto currency isn't it just the same thought of having actual money. Banks will be the one handling the currency which means it is still going to be centralized. Bitcoin does not have banks that will do that and i think most people will still use bitcoin.

Here comes the banks again screwing up whole blockchain and decentralized systems, crypto is what you call fighting against these corrupt banks and governments, yes these fools use this technology for their own profit, I hope me myself foremost and others do not trust these filthy banks and government tricks using blockchain, I hope they will never succeed to destroy bitcoin, and that they will faill in blockchain since this whole idea started just because they didnt want you in banks and governments !

one of the main reasons that people are using bitcoin is because it is decentralized and that is something that you can not say about any coin that a bank creates.

also last time i read some details about the projects that different banks are working on (from better sources not random news sites) it seemed to me that they are not exactly creating a currency. they are creating some sort of internal system to manage their transactions, maybe only internal or between banks.

I don't think so. You see, when these people use the word "blockchain", and claiming it as their OWN. That's where they've already lost.

I think banks are now trying to be consumer friendly, since they have seen what bitcoin can do, they are loosing their precious customers, I think the reason why the banking family, the Rothschild bought a lot bitcoins is to see what they are up against with. I think they saw there is a huge difference between cryptocurrency and fiat money, the first is the latter is decentralized. If banks would make an innovation and make transactions be easy for people, they might have a chance against bitcoin, but if there is no innovation, they will be left out, I also read in this thread, that banks might create their own altcoins, that could be a possibility, but to what extent will they use the coin, if it is only exclusive for each bank, bitcoin will still be their basis. All I can see is that banks will really struggle once bitcoin is accepted globally and we all know out history, if you are obsolete, you will be wiped out, just like what they did with the barter trade, turned to pearls and shells, turn to spices and expensive garments, turned to gold, turn to paper notes and now fiat, which can be considered of no value.

bitcoin is the king... that is all... all others are altcoin.

any bank cant kick out bitcoin anymore ... bitcoin is the father of crypto currency and noone can kick it out ...
but... any coin can come up with bitcoin ... its lik USD.. it is the most popular and the reaal exchange rate in money .. while bitcoin is USD in CRYPTO even USD cant  equal the value in bitcoin .. what can banks do is go with the flow of bitcoin and bring a new coin to circulate with BTC and trading market

Actually this is pretty bad news. I do not believe that people are so stupid to not trusting banks to buy their own crypto currency. But this suggests that vs bitcoin are going to fight a large force and if bitcoin doesn't develop he may lose this war.

I don't think so people will uae crypto currency of banks rather they will use bitcoin as it is easy to use and people are getting more aware about it. Bitcoin can never be replaced by any other coin.

If the bank would release their own coin that would be patronize by all people that are using the bank system even if they don't know something about cryptocurrency they can surely had an interest with the said system, but I don't believe that bitcoin will be a kick out because of the said coins that would be controlled by a bank, because other coins didn't stand a chance against bitcoin even if that bank is popular, bitcoin had gain a number of people that is now a community that simply can not attain by other coins.

The basis of digital currency is bitcoin, if the banks wanted to challenge bitcoin, this means that bitcoin is really kicking their butt. And if there is rivalry, this will manifest that bitcoin will stay more in the market and will be stronger than before. The financial system is changing very fast and more are adopting the blockchain technology.

they have been doing it for a long time and a couple of other banks have actually already released their own blockchain and their own centralized altcoin. suffice it to say that they have not been successful because nobody wants a centralized bank cryptocurrency at all.

bitcoin will always remain the first and biggest cryptocurrency because it is and also because it is decentralized. this will never change until something with same attributes (decentralization and fair distribution,...) and additional better attributes come along which has not yet happened.

Oh that-a Luigi, He's a so crazy.  ;D
Bank coins, lol. He is about to get Donkey Konged.

Why won't they just use bitcoin itself rather than creating a new coin to do the things that bitcoin can already do? It's such a waste of time, effort and money to make a coin and try to "rival" other cryptocurrencies. If their focus is on trades and instant transactions, then just use bitcoin.

I also it is not possible although the banks have strongly discourages digital currencies all over the world, because if digital currency prevail in the world the role of the banks will reduce very much. If some one goes to bank the purpose is just money deposit, withdrawal or sending some other place.

And when there is no need to go to banks for all the three above mentioned things then there is no need of banks.

the answer is too obvious and it is already answered so i wouldn't bother repeating the obvious but i hope a day comes that people who are involved in bitcoin start learning what bitcoin is. that day, topics like this wouldn't be created asking a pointless question.

Maybe for banks, it is not possible to ban the Bitcoin because already Blockchain tech is implemented in many big organization. An Even big country like the US till now they did not announce about banning the Bitcoin and but they want to regulate the ICO conducting procedure.

If they do that they will just modify the BITCOIN or somewhat COPY it but I think it will not be like the bitcoin that
can use around the world and the price will not be the same of course.. bitcoin popularity is unstoppable that it is hard to
reached or pair neck to neck and continues to grow also

Anyone who believes a Bankcoin can murder Bitcoin should leave this forum and not come back.

The central point of Bitcoin is that it isn't subject to the whims of some overlord. A Bankcoin vastly increases the ability of the overlord to execute their whims. It could be done with a few clicks.

any government/bank crypto will be tailored to work just like fiat, meaning they can manipulated at will, so no change for real decentralized cryptos including bitcoin

Once digital currency uses widelly it will be hard for them to win on it, having btc that applicable on doing such activities will be enough to used by many than to choose bank. But for now many will still choose banks since btc needs more development.

For me its not really possible for banks to create cryprocurrency like bitcoin. Issues like decentralization and security will come in place plus the unbeatable potential earning in bitcoin other than any normal flat currency. In security, banks are mandate to get the name of their client therefore if you buy their crypto, they will keep a record of your name and account or wallet. In decentralization, the crypto they will make would be centralized since it is based on traditional currency such as dollars.

big organizations aren't what make bitcoin so durable, it's the many individual users that have adopted it and support its growth. with bitcoin, the power doesn't all go to the few big players, although they may control a sizeable influence, a decentralized network such as the one bitcoin is based on allows more pull on the side of the many. we run the nodes, we run a fair portion of the mining network power, and we use most of the transactions.
as for regulating ico's, I think it's a good move overall; these projects involve millions in crowd funding, that alone, I think, necessitates regulation. not to mention the scams.

it's great if some of the world's largest banks set up their own coins because this makes it all a bit easier by paying for coins, but it's impossible for them to kick bitcoin out of the market because now bitcoin can be said to be the number 1 coin in people's search because it has the most prices high and from the beginning bitcoin the most demanded by people.

Most of banks accept bitcoins. I don't think they kick it out. Bitcoin is decentralized and father of crypto currency.They should use bitcoins rather than creating new coins. The new coins are only alt coins and none serve the purpose as bitcoin does. We saw the launch of BCH but it also not succeeded so you can think what any new coin can do.

have thousands of altcoins "kicked out" bitcoin yet with their version of "digital coin"?
obviously not. they have not even come close to be able to think about "kicking out". let alone actually doing it. and the same will be true about anything that comes out of a bank. it will be centralized for sure which is something that most altcoins don't have (1 positive point for altcoins).

I do not think that most of the banks accept bitcoins, in fact most of the people are still not accepting bitcoin, in fact they are working under their government, therefore i do not think that most of the banks are accepting bitcoin, i think in future when government will start accepting bitcoin, banks will also start dopositing bitcoin in their banks wallet.

The banks are most certainly not going to kick-out Bitcoin with their new digital coin. Why would their digital coin have any value? Their network would be insecure and worthless.

Bitcoin is the mother of all cryptocurrency so it will not happen, they can create coins but kickin out bitcoin is a bad decision ever. they can create coins using erc20 of Ethereum and they can use Waves also if they want coz they are capable of ICO

Please Bitcoin will win against any alt coin which is released and will beat any bank

Short and simple, they have a skeleton in their cupboard and they can't pretend anymore how threatened they have become each day as Bitcoin keeps pulling down their walls. All I could read from the article is rattling of people who know they already lost it and stand no chance of catching up, much more overtake. One more time, they've clearly demonstrated their hatred and dead wish for Bitcoin and altcoins by extension, but it's already too late.

To all the so called big and strong banks, of course, Bitcoin cannot be kicked out, the people have taken their stand with Bitcoin - something they can trust to a very large extent.

I can see the angle they are trying to get here. I mean many people are aware of the philosophy and idea of cryptocurrency, so if you can't beat them might as well join them.

Bitcoin is created to bypass the tax and 3rd party involvement in transactions. I dont think people are just enjoy trading online. People wants freedom. For sure they will not buy the centralized government coins unless you are a forex trader.  Yup acquiring them is just like playing Forex with different fiat currencies.

Not only bitcoin they want to kick out all of the altcoin they want to kick out because many big banks was affected on the cryptocurrency if all people save or invest there mony to bitcoin they can earn every day, week, month and year but in bank if you invest after a year before you earn so that many big banks thinking what is the bedt defender to there business for the bitcoin to remove all the altcoins.

if all banks make one coin , yes will be kick-out bitcoin , but if every back make one coin to each , there is no sens of it i think

I don't think so - most banks are already digital. They use digital transfers to move money from location to location. The real benefit of Bitcoin is in its decentralised model and the ability to send it quickly for (relatively) low cost.

Of course that convenience is lowered by having to manage your own security (unless you get a web wallet). Opening a Bitcoin account takes seconds. Bank accounts - not so quick. Sending to anyone anywhere in the world takes a maximum of a few hours during busy times. Banks currently take days.

The problems isn't really the banks though - its more the layers of procedure and red-tape that are instituted to "stop" criminals. Bitcoin has auditability and complete traceability so can actually help law enforcement track payments without the need for regulation.

Unless there is a very compelling reason to switch (helicopter drops maybe???) I don't think Bitcoin is going to stop being used.

I can assure you that it will not succeed because of the following
* banks are centralized which means that every transaction you made is being monitored. And that alone contradicts the way cryptocurrecies work.
* not all people use the same bank so the transactions by using that coin is very limited compared to bitcoin.
* The source of your funds will be questioned if it reached a certain maount just like in fiat and the bank will decide whether to report you to the police if they believe you funds comes from illegal activities even if is not.
*banks are less secured compared to blockchain technology.
*the banks are the ones that going to process your transaction and not the miners so many people who mine will not entertain the banks coin.
*And for the last one
* banks are greedy bastards and will not increase the value of the coin to prevent them from loosing money over it and the price will be surely regulated by them.

It will be a complete failure. People use bitcoin because of anonymity, decentralization and low transaction fees, Banks will never create a cryptocurrency with such features because of their greed and stupid laws and let's not forget the interference between banks and governments.
The good thing is that Banks avow that Bitcoin is growing fastly and they can't stop it and that cryptocurrency is the future of finance.

No. You don't get the point here. Bitcoin's major selling point is its decentralized nature. It allows people to store wealth, transact, communicate, store data, etc, all that outside the reach of banks and governments. It offers people a way to escape this broken system that only leads the far majority of the people to poverty. Governments and banks can come up with as many crypto currencies as they want, they will never be able to even slightly harm Bitcoin. If people didn't care about Bitcoin and its insanely powerful network, they would have jumped over to another coin years ago already. From there it's safe to say that even non banking and governmental issued altcoins will never have the chance to come even close to what Bitcoin is right now.

You know, there are saying that if you can't beat them, join them. That's what's happening right now.
Trying to be like any other cryptocurrencies. But they can't because the essence of cryptocurrency is not there. Cryptocurrencies are made for decentralization. Banks are against decentralization. So expect their cryptocurrency is centralized. What's the difference? No difference at all. They just imitate Bitcoin by using blockchain technology. I doesnt look enticing to customers. This is a joke. That's why i don't their project will be successful.  Cryptocurrency is unstoppable. But i think it's going to be a problem in the future. This must be supported by the government. This is great though. Atleast they are able to compete in a good manner. Not spreading FUDs to scare people.

In his dreams.

The banks' blockchains are private. Bitcoin's blockchain is public.

Banks blockchain and trasactions will remain hiden from us, i dont see any other way to make their transactions. And the big question is why would we left our decentralized currencies to return into something that can be manipulated by banks, we do have already the fiat and we need them otherwise we would be already into digital transactions.

Well they do not get it, bitcoins is really popular because of decentralization. No one owns bitcoin and that is the most appealing part about it. Unlike fiat and other CFD which they already control.  

I also think that since people are now investing in crypto they like to get a piece of the pie. They will basically control their coins and pump it and dump it. Greedy bastards they are not contented with their trillion of dollars.

Blockchains that are run by banks are probably not open ledgers and they’re definitely not decentralized. Bitcoin and other decentralized cryptocurrencies have those two things that will separate them from a blockchain or coin run by a bank or government. I think the two things can exist but will have completely different purposes. Freedom, security, and privacy are things that Bitcoin provides while also being transparent in the way it operates. The banks will never be able to provide this because they will always have access to our funds if they run the blockchain.

I will always love the decentralized bitcoin than the other coin that will about to come that will be possibly managed by bank. It will surely a centralized one, i don't like that, what if my bitcoin will disappear.

They are going to be shitcoins to be honest. The reason behind why Satoshi Nakamoto and his team Build Bitcoin to remove the 3rd party. No banks would be in you when transacting (Decentralized). No one would support the banks project on making a cryptocurrency.

I'm sure it will be like that, of course banks will make better coins than bitcoin, using bitcoin is very risky because banks can not control the bitcoin so it is very dangerous if used.

Yes, I think so. If the banks launch their coins, I believe people won't welcome them as glad as Bitcoin. People don't want to be dependent on the third party.

First they critized blockchain and accused bitcoin as a ponzi scheme everyday then now their embracing the blockchain technology that bitcoin has and people loved. Is this some kind of a joke or this just mean that the blockchain technology is more superior to their fiat debt based system that is highly vulnerable to hackers no matter what they do they will lose to bitcoin over and over again unless they dont change how to currency to work. One of it's best example is bitcoin.

i only can said wow it should be a big plan from the banks the trying conquer the crypto currency and have a plan to kick out bitcoin from us. i think if we see the people society and their conditions, people now become smart and wants to know about something new and they want to learn so if the biggest banks really wants to beat bitcoin, then i think people will decide which one they want to use and they will compare between bitcoin and the new coins from the banks. but i don't think that the new coins from the banks will defeat bitcoin and only time will give the answer.

Hell to the yes they want to replace bitcoin with something more regulation friendly; bitcoin is too disruptive for banks to coexist along side it. It was literally designed to take the centralized features of a bank, usually the stuff they charge fees for. Since a semi anon currency that doesnt require AML/KYC procedures is the absolute antithesis of the way a bank operates, governments, which regulate banks, also arent too fond of bitcoin. So, if block chain technology is here to stay (it is), the only way for cryptos to be embraced by the banks is if they are designed in a more regulation friendly (read: centralized) way ;)

the bitcoin is good now so i think we can add more coins but i dont it will kick out the first coins and one more thing it cant be similar in bitcoin if they create a coins because that is not acceptable that is a bad case ,bitcoin give so much conveniece now i think creating a new coins is good but if they create this to kick out bitcoin that is not good

There's no way. The entire point of bitcoin is that you will no longer be in the power of central banks. There is no reason for users to play into their hands once more. They're wasting their time.

Put in another way, Bitcoin gives people freedom from those banks and their masters - the governments, their callous interest rates and commissions. One does not have to look too far to see why they're whimpering - almost all the money now in cryptocurrencies, used to be in their vaults, which they used to create mindless credits over credits that got us in the financial crises we've been in, but that party is now coming to an end. Even a blind can tell when there's no salt in a soup, even so Bitcoin, representing the cryptocurrencies, is like a salt, anyone that tastes it, knows the difference and ever look back!

If the ten powerful banks would be one to counter bitcoins there is hope. But if only one bank will fight against a huge Bitcoins it will definitely just be swallowed by that bitcoins price. So eventually the bitcoins will still be stable. And then there's a good reason why people prefer bitcoins. This is the decentralized bitcoins and our free use here. No one interferes with our actions and no one can control the likes and do not want to do it.

It is up to them if they are going to make their own digital coin or if they will just stick with their fiat currency. If the banks will create their new digital coin then it is automatically supported by the government and if the government will become strict about their digital coin then they will force the people to dump their bitcoin and fully use their own digital coin. So it is always up to  the government in my opinion.

Sorry guys. We're "kicked out". Go back to bending over to receive your bank money.

Bank coins.  ::) WTF do you think we made bitcoin for? We had bank coins, they are called dollars.

The banks can't kick Bitcoin out. This is a system that is completely out of their control, for once. The network is too strong to coerce now as well. It is impossible to shut down a system controlled by computers that are distributed in a decentralized manner all over the world.

Why can't more people understand this?

Well I agree with you it look like a joke for me I think it’s very hard to kick out bitcoin because bitcoin has now a very strong and hard position in market and bitcoin know how to fight with other crypto as we know when china banned bitcoin and the way bitcoin fight against fight china so that unbelievable so other crypto can’t replace bitcoin.

BTC has so many advantages that banks can go kick-out themselves with their currencies, digital or not.  :) The only idea of modern banks is to take as much money as possible from everyone anyway.

How exactly would bitcoiners be forced to dump Bitcoin knowing what decentralization is really all about and that p2p transactions is ever possible? One of the reasons the adoption of Bitcoin have been on the increase, is because people have tested and seen the difference a decentralized money can bring to the table and I doubt anyone would be willing to go back to Egypt!

Because they are like banks they did not understand the purpose of bitcoin. Bitcoins are created to avoid their radar.

Banks aren't going to make their own coins, banks rely on people storing their money so they can make investments with said money. This would be very difficult to do with a digital currency that they have made and is the reason why they are against Bitcoin.

I think if banks will get involved in blockchain tech, they will have their own blockchains for their purposes. Which will be out of reach for normal people.

I can't see them buying some alcoins (if that's what you're hoping for).

Its a smart move for banks to try an emulate Bitcoin.  It may help fool the majority for a time thus prolonging the control the Central banks have on the world economy.

But as hard as the central banks try to look like Bitcoin they will never be decentralized.  The most important part about Bitcoin.

I agree that it is impossible for any bank to kick out bitcoin and people will hardly accept coins from the specific bank, and i think it will not easy because the bank will apply a rule that is too complicated just to get the coin, while to get bitcon is easy and without regulation, which may also the profit not be as much as bitcoin. I also personally would not buy a coin issued by any bank because I prefer bitcoin

Actually, bank owner's  would be worries of having crypto currencies spread widely and starting to be wild. They are worried if this could be a reason of losing their business, because banks are totally dependent to the people around. To anticipate this to happen in their business, they created a certain coins in order to stay alive and still can be a part of this new generation.

I don't think it will be possible for bitcoin to be defeated just like that by any digital currency from a bank, come to think of it any bank trying to create a digital cryptocurrency has already betrayed the idea of cryptocurrency because it was made to be decentralized and autonomous of any external influence from banks and any government.
I don't think any sane person will not like to use any digital currency that belongs to any bank and the banks involved should be ready for the biggest scam of the century.

I think banks cannot kick bitcoin out, this is just like what had happened before with gold, with the introduction of paper notes, the paper notes was backed up by gold, which has real value, i think what the banks may do is make bitcoin its reserve, since bitcoin' value will be on the rise, and the cryptocurrency that they have made, will need something to of value in the crypto economy, and that is bitcoin, i think when that time happens, it will be th time, we see that banks go hand in hand with bitcoin as well. What we can do now is watch, and see which banks will create their altcoins, and how they can survive with or without bitcoin.

Yes, the banks but not all, have some planning to launch their own digital coin to bitcoin competitor.
Its not easy to kick out bitcoin from the first popular coin in this crypto world.
Banks will do the best to do it but not that easy..

i think it is not possible that the bank kick-out the digital coin

No I don’t think so because it is not possible for the banks to kick out bitcoin because bitcoin is a digital currency and the banks do not have any access to the control of bitcoin, rather they are now thinking about dealing in bitcoin because they also realized the importance of bitcoin and in the near future there will no money in banks. Everyone wants to increase his investment and bitcoin is a good investment.

Yes, you're right. They will never replace the bitcoins and this would be a check mate for them. No one will return on a traditional type of transaction that relies on a third party and requires trust because we have now the technology and currently using it so why returning to the old ones? They're just wasting their time and money creating a centralized coins

They will definitely give it a shot. They'll start to adapt and use the same technology bitcoin is using for record keeping. I don't think they'll succeed though, because essentially they'll still try to centralize it among themselves. Instead of using users as nodes they'll still be using banks as nodes for their blockchain and thus they'll still control it.

The idea is "The coin will let the businesses and companies pay for securities without waiting for traditional money transfers".

Faster transaction that regular banking trans. Thats the way i see it but the essence of decentralized and anonymity is still missing. Business is business, banks are seeing that cryto is the new trend now and they need to adapt on that to survive. Maybe a good potential, yet we need to wait for further developements on this "utility settelement coin"

Yes I agree with you that crypto currencies are fighting against these corrupt banks. And that’s why they do not like bitcoin and other digital currency. They have started a campaign in this regard to stop people buying and investing in bitcoin, because they want all the people to put their earnings in their banks. So that they would earn profit while using the people’s money in different sectors.

It stinks and no-one in crypto land will get involved with their crappy coins.
That said I can see massive marketing efforts by these banks aimed at farming potential newcomers to crypto over to their schemes rather that Bitcoin etc. We will see how it all turns out.

I don't think these are fully true because I heard about the launch of blockchain technology like the bitcoin have by big banks shared supports but that didn't worked well at that time and now they were trying to make again that project ( new start of blockchain technology comes in the last of the last year ) .
But I don't think that they will kick out another coin , Because coins have the value in the internet world because of the only reason that they have trust in the people , so if the those new coin will be more trusted and better for the people then surely they will go toward those coins but here most of the trader will look at new Coin like altcoin only and will make use for the trading only like altcoin .
And the king that bitcoin will remain king , Because bitcoin have big supports of the users .

The banks with their effort would only contribute to the increasing awareness of bitcoin because by the time they are launching their campaigns of their digital currency, there is no way reference would not be made to bitcoin and for someone who is seeing it for the first time would want to know the origin of such and thereby find his way to bitcoin. Understanding the real thing about bitcoin will surely make anybody pick bitcoin above any other digital currency.

Will all due respect, these bank will issue some interests on their "bitcoin" whilst centralizing them. I don't think people would choose that over the liberty of using bitcoin, which is everywhere.

Some may still choose them, there's some people who would choose over bitcoin because of its decentralized feature and given the freedom away from the authority.
But, people who joined bitcoin community merely for "profits" and "money" could simply switch over to banks' digital currency by their interesting offer and centralized might not be a problem here.

If the banks create a currency, then it will definitely be pre-mined, and will be more centralized than any other crypto out there. this goes against the fundamental nature of cryptos, which is decentralization without a controlling authority. In my opinion, the only thing that could kick out Bitcoin is a crypto with more features and real world applications, ETH or IOTA or even the high-powered retail tokens like NucleusVision and AppCoins.

Yeah, the only way banks could kick out Bitcoin is if all governments banned it in the future to reestablish a fiat-run economy. Other wise, I'm looking at ETH, LTC, XMR, maybe XRP - these coins are the future along with whichever ICOs make it big (mostly probably the ones built on Ethereum blockchain)

No serious crypto-enthusiast would trust a coin launched by a bank, unless it had tremendous utility value. And besides, Bitcoin has far too much of a head start to ever have a Big Finance crypto ever topple it. Much more likely that ETH or IOTA (in an IoT-enabled world) would bring it down.

no. bank will be bankrupt because bitcoins and another cryptocurrencies overcome them. lol

I don't they have the authority or power to do such thing as they please it to be, it's possible for the central banks of the country if the government support their claims. But as far as lone bank no matter how powerful or influential they can be they could not do such things because it is beyond their capabilities.

if bank will make p2p coin that mean they close them doors  else bitcoin will be better

yes bitcoin is Future bank and market cap can be more than 10 T fast.

all will use it as investment like gold now

Apparently this person does not understand that competition is the engine of the economy. Creating competition with its banks, it only creates good conditions for the development of bitcoin in a competitive environment. In any case, we will play only a plus. The more coins of the bitcoin type the better for the market as a whole.

I think that their attention is focused on the capture of the market and the monopolization of the cryptocurrency as a whole. They just do not understand that the finished tool has a completely different structure of use than the Bank. If something more interesting enters the market, it will simply go bankrupt.

I don't think that banks kicking out bitcoin but I think that idea of improving or updating technology/digital is to adopt cryptocurrency because here in my country some of banks was now embracing and accepting bitcoin so I don't think that they Wan to kick out bitcoin but to adopt it. Banks was in the middle of war between of them and blockchain or cryptocurrency  if they didn't  think how to adopt it they lost everything so that now they are thinking how to adopt cryptocurrency.

How about ripple? I think this cryptocurrency is a currency that is backed by banks in the world, right? But still, bitcoin remains to be the most dominant crypto in the cryptoworld and whatever crypto these banks will create will surely not affect bitcoin.

This clearly shows that banks are not really against Bitcoin or the Crypto currency as they are not just supporting it but they make themselves a rival to Bitcoin existence in which for me is a very ambitious goal that with this development they will just make people to invest more on Bitcoin. Hopefully they will start this as soon as possible as i'm exited with the outcome.

Banks will rather buy the already existing coins, exchanges, technologies. That's already happening, so they don't even need to invent or create something. Every tool is already available; just buy and then control it ;)

Banks can't stop the world using bitcoin, because people who hold bitcoin wouldn't accept a bankcoin. It may partly be accepted by some individuals. People prefer bitcoin because it is decentralized and that is something that any bankcoin might not be.

I don't that banks has a capability to kick out bitcoin. What happens then, the bank is a centralized company
system while Bitcoin is a decentralized system where no one can control it... So whatever they create tokens it will still
be centralized always bear that in your mind.

I don't think so people will uae crypto currency of banks rather they will use bitcoin as it is easy to use and people are getting more aware about it. Bitcoin can never be replaced by any other coin.

Well i think a bank backed coin would actually do good in the market also. Take ripple for example. We all know xrp goes against what btc stands for but it still commands a good following since a lot of people feel more at ease if a coin is backed by an established institution.

Do banks have the power to kick-out other coins, though? A crypto’s decentralized nature should prevent that, right?

I think the bank is not anti bitcoin, but is limited by the rules of each government where the bank is located. Because as a financial institution their goals are: Profit. So when the government does not ban bitcoin as a means of payment, banking I am sure will immediately accept it.

Banks are centralized institutions. A centralized institution will never be able to kick out a decentralized element. It is just not within their control. If they produce their cryptocurrency, which i certainly hope they do, decentralized world will have everytjing to celebrate. More people will get to know crypto, and more people will know why decentralization edges over banks.

Let them to the free public education. I say...

if the news is true, conventional banks are nothing more than a hypocritical group. when they try to drop cryptocurrency, on the other hand they also develop blockchain technology which is the fundamental foundation of this industry. but there are positive implications from this news, indirectly banks have given confidence in blockchain technology, now it is just waiting for the crypto market to improve again

The banks thinks they can have an alternative to bitcoin which can compete with btc  this will be the joke of the century, they introduced xrp with the aim of downgrading bitcoin against all odd bitcoin have been waxing stronger without kicking it out although price-wise this is not the best of time for btc however btc has a brighter future.

I am sure the news is a hoax, because of what ... because until whenever Bitcoin is the most superior in any aspect, and no one can compete with bitcoin even though 10 banks merge even though.
in just 5 years, bitcoin has had a significant impact on the world community, the community has been helped in terms of economy and reduced poverty.

They can not overtake bitcoin, bitcoin has been the beginning, so bitcoin is still all the recognition.
Hence bitcoin will not be lost in history, and even though there is more then bitcoin it all goes to compliment.

So who are those 10 strongest banks?Bitcoin will never be kicked out because this is the original coin thats was created in the name of bitcoin
And now just because banks are adapting blockchain then thy will just kick bitcoin?zlol this will never happen because people are tired from this damn bankers

Bitcoin has its own life without any backup of banks. It is a true cryptocurrency of people worldwide. Public has supported bitcoin and will continue forever. Of course, banks can release their own blockchains and native coins, but it cannot kill bitcoin. Financial Institutions's cryptos can live a long with bitcoin.

Financial banks crypto coin will be controlled by them so it is different from Bitcoin that is a real cryptocurrency that can be used by all and not controlled by anybody Bitcoin is not competing with any digital currency as they are all copies of it

banks may adopt the blockchain system and create their own coins, but to kick bitcoin from the market that sounds impossible, bitcoin is like a king and first, to survive so far is not easy, it requires a lot of trust from investors and it will be hard to come by by new coins, just look at what altcoins can be aligned with bitcoin? Sounds funny, now don't think too far, because to compete alone it will feel very difficult

With their digital coin they never can because there is a huge difference between the bitcoin and the coins created by the banks are decentralized so bitcoin is not controlled by anyone which makes it unique but the banks coins were controlled by them so there is nothing difference with fiat and centralized cryptos other than the transactions were happening on blockchain network.

I don't believe that can happen, because the strength of bitcoin is very strong to destroy and any bank won't be able to kick it out of the world of cryptocurrency. Bitcoin is the king of the crypto world and everyone believes in bitcoin.

Yes, that's possible! Moreover, banks can buy already existing projects. Moreover, they can do a lot of things behind the scenes that ordinary investors don't know and don't take into account when making their purchase decisions.

If many banks join that cryptocurrency, maybe they can get it. But the difficult thing when the banks try to gain ground in our subject, decentralization. This is in danger, I hope they do not achieve great control.

Bitcoin has topped the cryptocurrency world for a very long time and it won't be an easy task for any other coin to displace it from its throne.

This is not possible bitcoin is unique and the king of the Cryptos, the banks can have theirs but can kick out bitcoin that will be very difficult.

Quite promising but it seems not that strong enough for me. Remember that one of the main reasons why people use bitcoin (especially before) is to free themselves from the regulations of banks. So I don't really think that they can beat bitcoin in its spot in this industry. Cryptocurrency is really a large playground of different coins so this newbie will make its reputation but we can't say any more unless it prove itself in the market. Until then, let's just focus more on our strategy and watch out for this new competition.

it also requires a very long process and time, if the bank wants to kick bitcoin with their coins, banks inevitably have to be able to exceed the quality and sophistication of bitcoin. but I'm sure it won't work because bitcoin has become the most popular coin to date.

I don't even think that banks will have their own cryptocurrency. while their system is not decentralized like cryptocurrency?
and bitcoin will not be easily beat and kicked. because bitcoin is unique, most trusted of all crypto, and many other reasons

The banks already have their own kind of cryptocurrency - this is the payment asset Ripple. But for the whole society this is not a full-fledged cryptocurrency, because its emission is controlled and centralized. Bitcoin from this point of view is a more democratic coin, although it has many drawbacks.

When many banks join to make cryptocurrency, they will definitely promote their creations with legal and safe labels. On the other hand, bitcoin will face many obstacles because the bank's cryptocurrency is more dominant in its area. Fortunately bitcoin doesn't depend on the bank, so it doesn't feel too much of an impact.

If this will happen then in the future the value of bitcoin will double it's amount.

Some will create their own while others will use ripple. Either way crypto currencies are here to stay. As long as their creation can be traded against bitcoin then it will benefit this community

Banks can't kick out bitcoin with their own digital coin because people are not going to adopt the digital coin from.banks.The reason is,people are interested in blockchain because of the decentralized system of bitcoin.
People knew from the beginning that bitcoin is made to ensure people are not subjected to extortion, high bank charges and as well give people the power to determine their fate on financial sector.So,banks displacing bitcoin will be impossible because people knows that their financial freedom will be tampered with once digital coin from banks is adopted.

Hey no bank can ever create a coin that can destabilise cryptos, as banks coins will always be centralised coins they can never be decentralised. The so called bank coins will always be subject to manipulation, and will be run at the whims of their officials, and public shall never accept such a coin. Everyone loves cryptos cause it's decentralised, has lower fees and requires virtually no documentation hence cryptos shall always stay.

Cryptocurrency are made for the people!
Bitcoin is the first cryptocurrency and this coin is giving the rights to every people in the world.
It is the way to get out of the manipulation of government and banks, and then we are going to crypto that control by banks?
then this is useless, we should just stay with FIAT then!

Sooner than later, banks will realize cryptocurrencies have weight and acceptance so far because $Bitcoin exist! It is even so obvious from the fall in the price of $Bitcoin, we see  altcoins gasping for breath! and who tells the banks their own coins can survive if $Bitcoin dies? their coins can never be taken serious/trusted nor adopted by anyone! people prefer freedom from being subjected to things against their wishes. They can not kill or stop $Bitcoin with their shit coins.

Bitcoin is making banks irrelevant.

The days of debt based fiat currencies are doomed.

Banks and governments will be forced to adopt honest, accountable, trustless currency like Bitcoin.

Paris is burning!

The global revolution is beginning.

Many don't realize it yet, but the revolution is Bitcoin.

I have confidence that the bank will someday run with bitcoin and also the cryptocurrency they created. because crypto is currently inevitable and banks must accept it, before they end.

I just want you to know that bank was being categorized in centralize form of system dude, while Bitcoin was a virtual currency which is

decentralized system applied in the market. Meaning, even they do that it won't work in my opinion.

The banks can only try but it's a known fact that they can't kick-out Bitcoin at all. The banks only decided to float their own token after getting to know about Bitcoin thus I classify their coins/tokens as nothing.

It's easier to say then to do.
By now Bitcoin has gained many supporters, value and usage in real life and all this didn't come over night.
Banks can issue their own cryptocurrencies, as well as governments or any other institutions but this still doesn't mean they will be successful and accepted.
To my opinion to get some serious competition for Bitcoin would be extremly hard and I don't think that at the moment anyone can make something like that. Even now when the price is low and if this continues Bitcoin can't be moved out of the crypto scene.

it might happen because the bank really hates crypto, so the bank plans it by making new coins to get rid of bitcoin and other crypto, but it must be very difficult for the bank. and I'm sure of that

if they still use the crypto algorithm, they will still be included in the altcoin group, maybe they will form their own caste by trying to create stable coins, but bitcoin will still be the most popular because they cannot separate the volume between bitcoin and break down into their coins .

Banks disapprove of the cryptos because altcoins are made to resolve all the flaws and negative sides of Banking system. BTC is everything that the standard banking system is not and vise versa. If the banks make their own coin, it will still have the same core and algorithm as any altcoin. I believe that they will simply adjust it to be suited better their needs and goals. I don't see this as a bad thing, I see it as a compromise to make BTC easy access and more approved and used by the masses. This is a support to BTC by the banking system, in a way. I believe that it will be a good step forward.