Bitcoin Forum

Typical banks, will they ever take Bitcoin seriously?

Many banks adopted and implementing blockchain technology to securing the banking.
Some months before Citi bank new york announce that they gonna implement the bitcoin payment as a deposit for the banking and they gonna implement new coin for them called citicoin. Swiss bank shows adoption interest to the bitcoin. Wait for some months.

In the near future they have to implement and get used to BTC because fiat is getting extinct thats for sure  :'( :'(

if banks will start to accept bitcoin, for me, it wont be a good news because that means BTC will be regulated, with the power of banks the whole concept of BTC/decentralisation and stuff like that will be wiped or twisted into something they want.
At that point, BTC will become another currency being regulated by government, laws and politics.. i dont think community would take it as a good news.

Well, i don't see in it - nothing bad. I think it just make cryptocurrencies more public. For me, that will mean that my grandmother would have a possibility to use cryptocurrencies and pply it seriously.  :)

How did you come to that conclusion ? If they start to accept it you may use their service or you can just continue to do what you are doing now. I don't see in which part is Bitcoin getting regulated if you don't use Bank's service.

I feel like they will have to the bigger it gets.

Now many banks have already ceased to ignore the crypto currency and seeing its tremendous support from the public, began to look for ways to approach it and possible methods of using it for profit. Some banks provide services for buying and selling and exchanging crypto currency, in Japan they even try to make a single bank card for crypto currency and ordinary money. I think in the future the range of such services will significantly expand and banks will have to play a significant role in the implementation of the crypto currency in all areas of our lives.

Nope, in most cases they have no reason to do so because they are protected by the government, due to them being involved in the entire fiat scheme. If they had to actually care about what they do and make sure that their business would perform well against everyone else, then they would care a bit more, but they all work together and there is little variation between all of them, so they have no need to try and compete and make themselves more attractive. This collusion makes sure they will never care about Bitcoin till it is either too expensive or it is too late, or if Bitcoin fails entirely, because there is no need for them to care right now. They revenue they bring in is fine for their needs and they likely will never need more.

I wouldn't say that

I would say that they're already "taking it seriously" enough to consider any potential applications of blockchain technology in financial services.

It's important to distinguish between taking BTC seriously (most of them already are, even if they don't like the speculative nature of it and they would rather preserve fiat currency), and liking it.
Pretty bold statement.  IMO that's extremely unlikely because fiat currencies are something which banks have control over. 

It's certainly not a reason for them to treat Bitcoin differently - if they were actually afraid of that happening, they would be far more hostile towards Bitcoin than they are now.  Compared to what they could be, I'd say they're fairly neutral right now.

I think they already are because they starting to get worried.


Fiat is crap let's hope it does go extinct. Who needs it. But I think the future will be split into people who like and prefer fiat and those like us that see the light and use cryptocurrency. It's so much easier in everyway to use cryptocurrency.

When the bank sees that they are behind the technological trend of financial system they will be force to embrace blockchain technology. Just wait and see.

If they can be part of the system, or share in the wealth they will most certainly take it serious.

No I think they will not take bitcoin seriously and will be always against it. Why? First of all bitcoin is an enemy for banksters because they are losing a lot of ground. Imagine what would banks do if all poeple from all over the world would withdraw their money and put into bitcoin? They would colapse, they already have huge loans from the goverments that they need to pay, whole system would have colapsed that is why I think they will never accept btc

Cryptocurrency in general was made right now to be independent and not depend on any institution. That's why the investment on it is right now so highly effective, and will continue growing up and up. The thing is to find valuable invests in which one can trust, just like propthereum.io

They take it serious, but they will never tell that to the public. Instead they try to scare you away from it.
The next financial crisis will be much larger than the one we had in 2008, but will be great for crypto. People will store their wealth in silver, gold and crypto for sure when the next crisis hits.

there were still banks that already approved bitcoins to use on  thier system, just like on our country here in ph. so i guess bitcoin will be
also accepted soon on some banks as long as more people are using it on that country although there are some reasons why banks are not yet accepting bitcoins because bitcoins are not yet popular globally  or they see bitcoin as a big threat to thier company.

Banks would only adopt the block chain technology in which bitcoin works and not the bitcoin in future.They treat it as their biggest rival ever.Bitcoin has become the worst nightmare for them.

If they adopt bitcoins,it would mean that they themselves are terming their traditional service as not good.They won't wat to spoil their revenues which they get from transactions.

If banks adopt bitcoins,then it would be as if they were spoiling their own identity and uniqueness.

And they would never and ever do that.

Probably never. BTC is a major competition to the banks, if btc becomes a major everyday currency like fiat, then banks will go out of business. So obviously they will never support BTC or take it seriously.

I hope this. But recently in my country there are several banks that have bitcoin atm's and I was so glad that they accept bitcoin as deposit and withdrawal money. i wish all local banks will take bitcoin seriously buy I doubt because those atm's have limited bitcoin to withdraw and to deposits.

Some institutions will eventually take cryptocurrencies seriously. In fact, the upcoming Segwit2x fork is being orchestrated by a group that includes former government and banking executives. They are seeing Bitcoin’s potential and want the fork to take control of Bitcoin. As they say, “money talks” and as people see how expensive a Bitcoin has become and how high the market cap is, they are starting to notice it and realize there is something to it. Now they want to take it over.

Yes exactly banks are not going to accept bitcoin as a major currency. Bitcoin is liked by its users that they got rid of the banks with bitcoin. Banks consider it a threat to them and as a whole to the financial/ banking system. Therefore banks don't support bitcoin as a currency, even at the time you convert bitcoin to fiat they will try to convince you to leave bitcoin.

Yes they will someday if they think bitcoin is their enemy.
So far the banks is still calm confront bitcoin.

Right now they probably are. Jamie dimon took bitcoin seriously enough to release a public statement against it. They're likely wary of the capability of crypto especially now that its gaining popularity really fast

Bitcoin is decentralized no one controlling overthere. Bank is centralized one.. So if bitcoin accepted there need to be some modification.

Then they will accept

They are not totally adopting bitcoin but just an alternative and those banks are just using blockchain technology for their own good and convenience not totally on using up bitcoin since you do mention that they are creating their own coin which it is already an expected thing to happen on those banks would do. They wont take bitcoin seriously but rather they would mind on doing their business which they can make money even more which is on creating their own coin instead.

If you look at prospects now do not close the possibility Even bitcoin will have many places in the affairs of the transaction in order to facilitate their users each want to take the results of various programs bounty quickly and efficiently.

Whoever said that banks think Bitcoin is a joke? Them not accepting Bitcoin is them taking it seriously. It's a threat, and they're treating it as such. They have been able to get away with it so far because Bitcoin users are still in the overwhelming minority, but there may come a point when they have to accommodate it.

The first adopters are more likely to be able to make massive amounts of money from it, and I'm sure if one of them caves, the rest will follow suit.

You can't say, a few don't even know what  bitcoin is, some know what bitcoin is and don't even bother about it. Banks only like the concept of block chain technology, and most of them think that bitcoin is a bubble just like the housing bubble asset of 2005. A few banks are starting to think about developing their own crypto currency but I guess most of them will take a few years to implement it. So bitcoin is never of main concern for them because they think bitcoin cannot replace banks no matter what.

definitely not now but certainly in future. Banks are looking at bitcoin as a huge threat to their business. With bitcoin's market cap crosses 100 billion mark which has not been channelized in banking sector, they started believing that bitcoin will most certainly ruin their business. So they are not going to accept the profitability of bitcoin in public. Instead they will refer bitcoin as a bubble and speculation scam.

However, digital currency is the future of our economy. So no banks will have the power to ignore that. But I doubt they will ever recognize bitcoin, instead they will try to release new products on their own blockchain. The blockchain technology will certainly be used for better scale-ability and transparency, but not bitcoin most probably.

In my opinion some banks have already started taking Bitcoin seriously. Few banks in my country started research about Blockchain. They are interested in implementing this technology. Probably they are afraid of losing control of finances. Some banks in my country started blocking accounts for investing in Bitcoin. That's ridiculous.

They already do, but they make you think it's a scam because they are afraid you leave them , 3% against 3000% of gain, no question

Block chain, yes. Bitcoin, is something they take very seriously but will likely fight tooth and nail against. The caveat is that they may offer services and incentives to keep customer Bitcoin in their coffers somehow and make the same money off of those services as Fiat... just like the exchanges do now.

I'm not so sure of that. Banks aside from everything people here despise them for, are also a business that needs to book profits every year. If it doesn't come from free will, I strongly believe that at some point they will get forced to start incorporate Bitcoin in whatever form. People constantly say how bad Bitcoin is for banks, which is true, but I don't see why banks and other financial institutions can't benefit from Bitcoin's gigantic potential and eventual level of adoption. I can even see them allowing people to buy/sell Bitcoin and other crypto through their platform. I'm not directly referring to an exchange like service such as Bitstamp, but more a dedicated service that allows you to buy and sell Bitcoin according to the latest exchange rates.

In my opinion banks really dislike the idea of Bitcoin since it takes them out of the equation - if Bitcoin is a regular thing, people won't need to use banks.

Typical banks will surely take bitcoin seriously, because during the past year an calculation was made and revealed stating a huge loss to the banking system just because of bitcoin. This has generated a huge downfall and to overcome they are making plans of blockchain technology implementation into the banking system and several banks has already completed their trials.

Definitely,they would take bitcoin seriously.Earlier,they have tried their best to stop bitcoin's progress.In future,even some banks may even try to ban accounts if found dealing with bitcoin earnings.They consider bitcoin as their main rival.But they are very much interested in implementing blockchain technology in their services.

They would not deal in bitcoins even in future as it would even totally question about their services.

Bitcoin is becoming more and more important to the banks. The value of bitcoin now starts to be reflected. Although the current price volatility is relatively high, the global value of bitcoin will determine the influence of bitcoin and bitcoin . :)

What do you mean by the word "seriously"? I have different interpretations about your question. First, if you mean they take bitcoin and other crypto as serious matter, I would say YES. Cryptocurrencies source of funds are the traditional money we have, we tend to convert in to digital currency and use for several stuff like trading. So I am pretty sure that all banks are aware of this and they continue to learn about this currency. If you mean the word "serious" is like a threat to them, I highly doubt it and crypto will never a threat to all banks. I see this only as an alternative to traditional money and crypto can never be replaced traditional currency.

in my country, government say that they will adopt blockchain technology. but ban bitcoin as payment  ;D maybe they not want to rivaled by bitcoin but it is not change people's interest about bitcoin

It comes to disrupt the financial system of the centralized bankers. So, a lot of the country or majority of the country that has controlled by the bankers will against the crypto or something else that was not following their step. Bitcoin will never become a fiat. This time most people are happy to investing in the bitcoin as their investment.
But remember the presedent of the IMF already made a serious statement regarding the bitcoin because the possibility of the bitcoin become the major disrupt to the centralized economic.

If bitcoin will also develop productively, then banks will have to reconcile with it, whether they want it or not.

I think that if bitcoin is developing as dynamically as it is now and will become stronger in the world, banks will have to accept it. It is simply impossible to ignore it.

I think the traditional big banks are starting to take Bitcoin seriously. Some indications of this are the recent comment by Jamie Dimon, the Segwit fork, and the Bitcoin futures trading that is coming up. These are all attempts by traditional bankers to either control Bitcoin or manipulate Bitcoin.

This is all driven by the recent success of Bitcoin and the threat it poses for them. Bitcoin has risen from obscurity to a $120 billion market cap in 9 years. It was seen as a Ponzi scheme or money laundering scheme until real investors started to see it’s value.

With increasing market cap cryptocurrency and has now reached $ 200 billion, of course this is a serious threat to banks, they are worried that someday the user cryptocurrency greater than banks.

I'm not really sure that this will happen, because banks will implement blockchain based solutions (like bitcoin, but not bitcoin) for the problems bitcoin can solve and banks will sell these blockchain based solutions to their customers. If people will continue to trust banks, and they can choose the banks' inhouse blockchain solutions, they won't think about choosing bitcoin. This is only valid if the mass adoption of bitcoin will be later than the banks' deliver their solutions for the common problems.

They won't just yet but I think they might begin to worry. The should be in fear because they hear bitcoin approach. Bitcoin is still small but one day will take on banks. We have already seen some of the FUD over bitcoin so some people do worry.

if from time to time bitcoin users more and more and they need a media like banks, they too will take seriously bitcoin in addition they will also benefit greatly from the interest provided by customers, we'll see if bitcoin can survive the next 10 years there may be many banks that provide bitcoins

Banks have money, and when we discuss about them we need to be aware of that fact. With a lot of money they can do what ever they wish, to create new crypto currency or to implement some existing one. They are profit chasers and about that we all agree, they will try to take the most of crypto world.
They started to take bitcoin for serious they just don't show it, maybe here and there we see some article from some bank director calling bitcoin a scam and nothing more. There are a lot of banks out there, and we can't underestimate their power and their bankroll, what we should do is to hold on bitcoin and decentralized alts, and what ever banks do eventually we need to ignore them and their actions.

Why whould they? They cant even control it
Bitcoin transaction fee is paid to the miner not to them, while conventional banking have most of heir income from fee
So to me the answer is a big no

Banks are regulated by monetary boards in each country. Trust is the main issue with banks. Governments must first recognize the legitimacy of bitcoins thru their central banks before allowing them to include cryptocurrency in their services.

I'm not sure this will happen anytime soon, but what I'm sure about is that those banks that will actually do this, will prosper (unlike those who'll decide to ignore the trend altogether). Just my opinion.

I beg to differ, they wouldn't take it serious because it is able to feed them or they derive some benefits of some sort from bitcoin but they would rather take it serious because it takes food right out of their table and that is where they conceive all the evil ideas against bitcoin and its usage worldwide and so i think they take bitcoin serious but in the negative way.

Banks never take risks even if they see bitcoin price go over 100k$,  bankers will never invest in it.
I don't believe that banks aren't interested in bitcoin, only, they can't do anything to stop it they look helpless in front of it. But this situation will not lust, when bitcoin starts to minimize banks revenues they will be forced to take some acts to defend their interest.

Sooner or later, banks will take bitcoin/cryptocurrencies. The advancement of cryptocurrency being used and accepted by a lot of merchants online has an increasing growth! That is why it is high time to invest. A lot of cryptocurrency are now emerging and the originals are bitcoin. And it is never too late to invest. One of the best is Ethereum! I like that www.propthereum.io and their whitepaper is accesible for everyone. It helps me understand the whole concept. Please check it out.

i am agree with this but don't forget that in out there, there is many bankers that is ready to invest their money in bitcoin because I think they are read from many news that bitcoin is a good prospect to them to make a lot of profit. maybe for now the banks are not interested with bitcoin but if they found that bitcoin can give some benefits to them, I think the banks will investigate and learning about blockchain technology and they will apply the system into their system.

Banks will only use Bitcoin's blockchain technology instead of Bitcoin in the future. They regard it as their biggest competitor. Bitcoin has become their worst nightmare. However, the development of Bitcoin has forced them to accept this fact

They already take bitcoin  seriously. Some of them are implementing or testing blockchain technology, others are trading bitcoin.

Banks will always be scared of bitcoin because bitcoin is a decentralized cryptocurrency which allows people to transacts directly with each other eliminating the middleman (banks) of course there will be no bank charges which is a disadvantage to  the banking system moreso, there is a level of trust in the transaction of bitcoin which is passed smoothly, recorded accounted in a ledger.

Banks are very taking bitcoin very seriously, they know bitcoin can hardly be controlled by any third parties so they asked government to ban bitcoin, that slow bitcoin develope down very much.

bitcoin system against banks so that will never support bitcoin but they will take real work against bitcoin (will support blockchain technology )

They definitely take it seriously! Jamie Dimon talking down bitcoin is not an off the cuff rant, he's disparaging a competitor.

Currently not, many countries like China and Russian banned bitcoin, and they will not accept it as a fiat currency, so i don't think the banks can take bitcoin seriously. May be some day later, the status can be changed. They will support blockchain technology.

Once there is enough (by their standards) money in it, and enough people use it they will not be able to afford to ignore it. Some banks are already contemplating the ways how to get the bitcoin to work for them so i think it's only the matter of time.

Maybe not, bitcoin runs in a blockchain technology and no banks can control it whatsoever, its hard to assume that banks can take over the crypto currency but the other way around, bitcoin and other coins are showing its influence over the banks day by day and even other industries.

Yes! Time will come that they will take bitcoin seriously because it still continues to have a fast rate of growth. Due to it's popularity, banks are now a little bit threatened to btc and they are only ending up between the two options, embracing or destroying bitcoins.

It was a good news if banks truely understand the idea of cryptocurrency and willing to cope with the blockchain technology, this will definitely benefit us because banks can now become more user friendly for all of us since we can now use both fiat money and btc. On the bad side, banks can spread black propagandas against btc and may result again to bitcoin's drop if they treat it as their enemy. (I hope this won't happen)

some of them are aware that crypto currency is taking over the world. the best they can do is to embrace it and see how they can position themselves and ride with the wave or they face the threat of being totally out of business in a few years

They will of course fight against it for as long as they can, or try to keep them under control by pushing the governments to ban cryptocurrencies. They have to know that they will eventually have to at least "cooperate" with cryptocurrencies, but since it will distort their business practices for sure, what they are doing does not necessarily counts as foolishness, but rather maximzing profits for as long as possible, in my opinion.

They are taking blockchain technology seriously and ways
of implementing it into their system and how they could
benefit from it.

Example of this would be Ripple by having more than 100
banks on board with big names such SCB, Bank of England
Bank Indonesia, Federal Reserve System and many more.

It hasn't taken over the world quite yet, it's just beginning for bitcoin, I am convinced however that certain governments will do everything in their power to stop ir or work against it.

Crypto currency can not for a long time be unregulated, "wild." Since it already has a strong impact on the economy and financial system of most states, states will have to either regulate or prohibit it. Now banks have the same choice. Only if the state recognizes crypto currency as a legal tender, then banks will have to comply with this. Nothing wrong with the fact that banks will be engaged in the exchange of crypto currency for ordinary money and accept it for payment, I do not see. On the contrary, it will only benefit the Crypto-currency, as it will develop faster.

Banks too have started focusing on Blockchain technology developing their own digital token for transaction purposes. One such that I came to know through an article is the boscoin which has been tested with the support of government in South Korea and might get into usage soon or later.

it takes time to adopt the system.

May be you are right in this case that banks will gets bigger by accepting Bitcoin. As we all know the importance of Bitcoin. Bitcoin is the well-known crypto currency of the world. And many countries accepted Bitcoin with open minded. And if the government legalized the Bitcoin than definitely traditional bank accept Bitcoin seriously. With that bank will also got too much profit from Bitcoin. Community will happy to take Bitcoin.

probably not. Because bitcoin has properties, the presence of which does not allow it to do so. But the technology Blockchain is very suitable for banking operations.

Indeed, banks are intrested integrating wallets to their web-banking service, but they still have a lot issues with converting and keeping bitcoins, because of the not decentalized system which dont have any safe solution if something went wrong, but still big card companies are trying to integrate this techonology

With the rapid ascend of Bitcoin banks became more interested in it.
Some banks already adopted the blockchain technology because they realized how secure it is and it can improve their services.
But the majority of banks are still afraid of Bitcoin that is why they attack it by calling it a fraud in order to stop its ascendancy.
The blockchain technology may be accepted by banks but not Bitcoin as a currency, at least not now.

Perhaps when the time comes that they have completely lost all their customers, that might be the time that banks will take Bitcoin seriously and take action.

may be near future banks take btc but need so many times. if the all banker  take it serious, but they will never tell that to the public. Instead they try to scare you away from it.

It has nothing to do with time mate. we first should accept and understand that banks are against the cryptos. read upcoming reports that released by banks, all of them shouting that bitcoin will die. so they are already taking it serious and trying to destroy by using their power.

No.. this is the same question asked once & once again, of course that banks hates cryptos and ico's, why would they take bitcoin as a seriously thing in here? There is no way to see it happening.
And if you are one of those who are looking to see bitcoin as a deposit option, forget about it, because it is never going to happen.

Maybe in the future, cryptocurrency will be the greates enemy of banks and absolutely, banks will make a way just to prevent crypto dominance. One thing here is that they will try to make an issue about the bubble thing of cryptocurrency and the result of making an investment with cryptocurrency. I believe also that banning of bitcoin from different countries is made by the government banks.

maybe yes, maybe no. and if the banks don't want to learn about new technology that could give benefits to them, then they cannot grow and follow the new era. we know every new technology is launch and whether we are ready or not, the technology will grow fast and if we don't follow then we will be left behind without doing nothing. I guess the banks learning cryptocurrency, especially with bitcoin because they are afraid of the price and they think that bitcoin could defeat their fiat.

I think so. The rate will be stable if bank control bitcoin but most bitcoiners dont like to get controlled.
Nobody will trade bitcoin anymore if the price stable. But stable is needed if bitcoin want to be a currency.

I think banks are already studying the benefits that they can get using bitcoin. They can  ask for fees from the public who will be transacting with their bank through bitcoin. This should be a win-win situation between the parties.

Perhaps the time would come that the banks will take action to Bitcoin because they might slowly lose their income and eventually die if they didn't.

It depend on how it will affect to bank itself.
Action of each bank in every country would be different.
If in some country bitcoin is very famous, more famous than bank itself, i think they will take over bitcoin seriously.

I hope not, when the banks will start to take Bitcoin seriously expect all the Western the governments to suddenly outlaw Bitcoin!

The mainstream media are very concerned about the legitimacy of the digital money industry is not its disruptive to the traditional financial industry. Banks have now begun to focus on bitcoin technology and begin testing bitcoin technology.

It depends upon what you a call a typical bank, I mean the times are changing now and whatever bank is able to keep up and evolve will of course accept it. Maybe not gladly at first, but that's how change works. It comes slowly and then you see the beautiful results of whatever was invested in.

Banks may want to put bitcoin in their custody, though this is less likely. However, with the development of the times, banks must accept bitcoin and other cryptocurrencies if they want to keep up. In fact, this is also a good thing for us. The larger the scope of Bitcoin, the more useful it is, and the higher its value.

Banks are now outdated technology bitcoin is overcoming the financial world with secure and paperless banking transactions

Perhaps the bank will not adopt a crypto to use as a transaction but perhaps the bank will only adopt the blockchain technology that a crypto uses to transact because it has a very good transparency system for a bank with a long-lasting transaction speed.

They are taking it seriously which is why they are emulating the technology behind it. There is no escaping Bitcoin.

JP Morgan put out a research piece today that basically outlined that cryptocurrencies could complement a diversified stock and bond portfolio. I believe as the banks receive increasing demand from their clients they will be forced to offer it.

In the next few years, i think that they will take bitcoin seriously because bitcoin is just having a slowly but surely growth which is one of the reason for the banks to notice bitcoin and if the progress of bitcoin will continue then it will be resulting to more recognition of the banks and they will finally get into the blockchain system and experience the better field in financial transactions.