Banks and Bitcoin

[edo777]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

[rememberme]

They are afraid of it, because it contradicts their whole system. I.E. If there are holidays and you have limited access to your bank, BTC will always provide full access to it's users.

Thats as simple as it gets.

[Kazimir]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

Offer Bitcoin storage (vault) with insurance. Invest in Bitcoin startups. Bitcoin loanss. Tons of other applications that aren't possible with fiat. Plenty of opportunities.

In fact, for them it's the same as for anybody else. With cryptocurrency, banks no longer have a privileged elite position, they're essentially just companies with the same possibilities and limitations as any other company or person. So if others can earn with Bitcoin, so can banks. Sounds fair to me!

[Daniel91]

In my opinion, banks will never accept BTC.
BTC is for the banks actually competition and threat, not something that can be offered as an additional financial product.
It is much more likely that banks offers its own virtual currency than BTC.
Banks do not like the things over which they do not have complete control.

[redsn0w]

In my opinion, banks will never accept BTC.
BTC is for the banks actually competition and threat, not something that can be offered as an additional financial product.
It is much more likely that banks offers its own virtual currency than BTC.
Banks do not like the things over which they do not have complete control.

It is a controsense that the banks will start to use bitcoin. Because with bitcoin I can send payment from A to C without pass to B, instead with banks I am obliged to pass from B. This is way bitcoin and banks can't coexist if we are thinking in a global adoption.

[tatu]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

How do they earn from anything else? From fees providing services. They can just offer services tailored to various aspects of bitcoin.

They are afraid of it, because it contradicts their whole system. I.E. If there are holidays and you have limited access to your bank, BTC will always provide full access to it's users.

Thats as simple as it gets.

They can adapt and very likely will if bitcoin becomes a threat.

[rememberme]

They can adapt and very likely will if bitcoin becomes a threat.

Elaborate

[muhrohmat]

well banks can win by trading the btc to for instances pay pal and then acount will be turnerd into dollars and euros in bank but thats a market of like 1 billion per year distribuited by all bank in world soo and acording to the  fact that bitcoin its too decentralized and personla power i mean if theres no good way to turn btc = euros in bank they will never earn and porbably try to diminuich the coin

[rememberme]

Exactly. And how do they plan to do so, only by giving it a bad image. and telling people they are more trustworthy because of the hundreds of years of service. But Math beats words.

[Daniel91]

In my opinion, banks will never accept BTC.
BTC is for the banks actually competition and threat, not something that can be offered as an additional financial product.
It is much more likely that banks offers its own virtual currency than BTC.
Banks do not like the things over which they do not have complete control.

It is a controsense that the banks will start to use bitcoin. Because with bitcoin I can send payment from A to C without pass to B, instead with banks I am obliged to pass from B. This is way bitcoin and banks can't coexist if we are thinking in a global adoption.

Exactly!
Bitcoin and banks simply are not compatible.
There are no profits for banks here.
No profit no interest

[arlekyn13]

As long as BTC and fiat co-exist, banks do not worry about BTC. We all still evaluate the BTC in fiat. And banks control the fiat And therefore, banks can and will take huge advantage of this new "stock" or "commodity" or whatever the label the BTC gets in various jurisdictions.

Have the fiat replaced entirely by BTC and you have a completely different story: a new society, almost impossible to imagine the implications of such a scenario. That's why I don't believe this will ever happen or if it happens, it would require a massive social movement, a global wide event to trigger the necessity and desire for this to happen. Very, very unlikely.

[Troonetpt]

As long as BTC and fiat co-exist, banks do not worry about BTC. We all still evaluate the BTC in fiat. And banks control the fiat And therefore, banks can and will take huge advantage of this new "stock" or "commodity" or whatever the label the BTC gets in various jurisdictions.

Have the fiat replaced entirely by BTC and you have a completely different story: a new society, almost impossible to imagine the implications of such a scenario. That's why I don't believe this will ever happen or if it happens, it would require a massive social movement, a global wide event to trigger the necessity and desire for this to happen. Very, very unlikely.

I don't think bitcoin can replace Fiat, at least in this century.
The simple reason is no country will allow that. And bitcoin don't need to replace Fiat, it would be good they are co-exist.

[randy8777]

i think banks will create their own blockchain at some point in the future. this way they get all the benefits without dealing with bitcoin. also important is that they can still maintain full control of everything.

[Troonetpt]

i think banks will create their own blockchain at some point in the future. this way they get all the benefits without dealing with bitcoin. also important is that they can still maintain full control of everything.

What the point?
If the Banks or government want to issue their own crypcurrence, ripple or steller like coin is much suit them, a totally centralized system.

[Oscilson]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

Offer Bitcoin storage (vault) with insurance. Invest in Bitcoin startups. Bitcoin loanss. Tons of other applications that aren't possible with fiat. Plenty of opportunities.

In fact, for them it's the same as for anybody else. With cryptocurrency, banks no longer have a privileged elite position, they're essentially just companies with the same possibilities and limitations as any other company or person. So if others can earn with Bitcoin, so can banks. Sounds fair to me!

You can also save bitcoins in those banks and they can loan out. You can also have bitcoin credit (debit) cards. The fee could be lower.

[rememberme]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

Offer Bitcoin storage (vault) with insurance. Invest in Bitcoin startups. Bitcoin loanss. Tons of other applications that aren't possible with fiat. Plenty of opportunities.

In fact, for them it's the same as for anybody else. With cryptocurrency, banks no longer have a privileged elite position, they're essentially just companies with the same possibilities and limitations as any other company or person. So if others can earn with Bitcoin, so can banks. Sounds fair to me!

You can also save bitcoins in those banks and they can loan out. You can also have bitcoin credit (debit) cards. The fee could be lower.

And why would they want smaller fees, for "customer satisfaction?" lol

[coinpr0n]

A bank-turned-exchange is something I could see myself using. If the rates are fair and they offer insurance, security, etc. I could see it very convenient to hold (at least some of) my funds there.

[belmonty]

Hi evrybody,

i have a general question.

in your opinion, how banks can earn with bitcoin?

Offer Bitcoin storage (vault) with insurance. Invest in Bitcoin startups. Bitcoin loanss. Tons of other applications that aren't possible with fiat. Plenty of opportunities.

In fact, for them it's the same as for anybody else. With cryptocurrency, banks no longer have a privileged elite position, they're essentially just companies with the same possibilities and limitations as any other company or person. So if others can earn with Bitcoin, so can banks. Sounds fair to me!

You can also save bitcoins in those banks and they can loan out. You can also have bitcoin credit (debit) cards. The fee could be lower.

And why would they want smaller fees, for "customer satisfaction?" lol

The banks make a fortune from credit (debit) card fees and wire transfer fees. They will fight anything that jeopardizes that income, especially Bitcoin. That's the reason they are sometimes closing accounts with any  transfers from Bitcoin businesses or exchanges  without giving any reason. 

[rememberme]

Damnit that sucks if that happens. Thats why BTC is better (no one can freeze your account)

[redsn0w]

Damnit that sucks if that happens. Thats why BTC is better (no one can freeze your account)

Only who have the private keys can "freeze" it, how? By forgot the private key itself  . If we are thinking that bitcoin can replace (kill) the actual economic system based with intermediary (banks) we should also think how to teach who don't have any knowledge on how to use a PC/device and related  wallet/client.


PS: remember who owns the private key owns the bitcoin!