I can smell the fear

[ducatitalia]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

No question about it.  When Fortune and MIT start reporting and discussing the same...then the idea has certainly gone mainstream.  And this is an old article...

http://fortune.com/2014/11/20/why-banks-fear-bitcoin/

[Meuh6879]

it is logical, because blockchain can improve their services and help them but bitcoin slowly killing them.

improve ?

6000 nodes is not "professionnaly" selled to a entreprise ... to secure a network.
4 data center are better.

that's why Blockchain strategy only work with numbers (like all P2P software since 1999).

[tspacepilot]

their blockchains will work like Intranets today. it will not affect "our" bitcoin internet of money.

"Permissioned ledgers and closed, centralized blockchains such as Eris, Hyperledger, Ripple etc., rely on trust and central key holders."

Er, I cannot imagine the point of having a centralized block chain. Having a centralized block chain would probably be pointless because no one will ever, ever lend their power to calculate algorithms and confirm transactions without even seeing what they're doing. Well I guess banks are just fooling themselves in harboring the block chain tech but using it against its original intended use (transparent transactions and trust-less system.)

I agree with what seems to be your main thrust that decentralization and trustlessness are crucial.  However, even a centralized blockchain allows data to be indelibly recorded (as long as the blockchain is published publically) because future blocks incorporate the hash of previous blocks.  This coulds also be useful for deciding which "buy order" arrived first in the case of trading.  Again, I agree that decentralization is important and crucial for a public project like bitcoin, but I can see utility in a centralized blockchain, just not as great a utility as a decentralized one.

[meono]

there must be an incentive to put a blockchain to work, and a private bank blockchain would simply be unfeasable againt the Bitcoin Blockchain...

It will fueled by their own servers farm, they don't need that much of a computing power after all, they won't be dealing with spam and micro 'dust' transaction in their version of blockchain.
Bitcoin's Blockchain is susceptible to spam attacks, private regulated blockchain won't be. It will be a perfect technology for them, and banks will get it for free...

LOL they already had it. Its called database dumb ass....

Why would they need a "farm" to "compute" a database?

You're stupid on so many level, not even funny.

[meono]

their blockchains will work like Intranets today. it will not affect "our" bitcoin internet of money.

"Permissioned ledgers and closed, centralized blockchains such as Eris, Hyperledger, Ripple etc., rely on trust and central key holders."

that is indeed what i'm talking about. It will not affect 'our' bitcoin and it has nothing to do with the bitcoin we trade with.

It will,  ppl will quickly realize how flawed their socalled "blockchain" is, and realize bitcoin is what they want. Not some McDonald's vouchers.

[Denker]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

Not really , there is already two big known and famous Banks on France which are planning to add Bitcoin to their system soon and they are in Beta (BNP PARIBAS & Société Générale)

Any source?
Because I highly doubt that. Implementing Blockchain yes they will do. But I doubt it will be Bitcoin.

[findftp]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

Not really , there is already two big known and famous Banks on France which are planning to add Bitcoin to their system soon and they are in Beta (BNP PARIBAS & Société Générale)

Any source?
Because I highly doubt that. Implementing Blockchain yes they will do. But I doubt it will be Bitcoin.

The safest blockchain is the one from bitcoin.
Blockchain without bitcoin is called MySQL.

[Meuh6879]

Not really , there is already two big known and famous Banks on France which are planning to add Bitcoin to their system soon and they are in Beta (BNP PARIBAS & Société Générale)

HONEY POT.



it's to un-cover the bitcoin holder ... and freeze/close the bank account without justification.


a black hole situation when you have business or ... invoince with automated wire (phone, internet, gaz, water, ...)

[Denker]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

Not really , there is already two big known and famous Banks on France which are planning to add Bitcoin to their system soon and they are in Beta (BNP PARIBAS & Société Générale)

Any source?
Because I highly doubt that. Implementing Blockchain yes they will do. But I doubt it will be Bitcoin.

The safest blockchain is the one from bitcoin.
Blockchain without bitcoin is called MySQL.

Dude I know all that.
This is not the point. I wanna have a source where these two banks say that they will use Bitcoin and not oneself created centralized Blockchain. Banks are not stupid. They will NEVER give up power,control and likewise profits if they can find a way to avoid that.
I want to have the source where it is written that BNP Paribas is thinking about using Bitcoin's Blockchain!And even then it would smell fishy imo.

[ajareselde]

I was recently reading in non bitcoin related article how the most effective way to be successful is to simply try to eliminate the competition,
or at the least try to undermine it - and that is exactly what they are trying to do here.

Bitcoin has come a long way, and with merchants and services accepting bitcoin, and bitcoin debit cards spreading around, people will embrace it much more than before.
I only hope the providers of debit cards find a way to lower their fees to same fees usual bank has, enforcing only a small conversion fee.
On top of that we have more and more bitcoin ATM's, that furthermore show just how far we have come, so the fear they have to bitcoin is justified, it will be the weapon of their destruction one day, or so i hope.

cheers

[Meuh6879]

use bitcoin, HELL no !
they want list all bank custmers that it use bitcoin on exchange ...

source of banks want blockchain : http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/

[Rampion]

I'm not so technically gifted to understands, if blockchain can works separated and without bitcoin usage..

It simply can not. A decentralized shared ledger without an economic incentive to be securely maintained by individuals around the world is either NOT secure or just NOT decentralized. No different from an excel file shared through dropbox.

The folks that are saying "bitcoin is useless, but blockchain will save the world" do not understand this basic fact - that's simply mind blowing. There's no "blockchain" without Bitcoin (the currency).

[ammy009]

no one can STOP Bitcoin 

[wadili89]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

yeah this is funny bitcoins are useless but blockchain is great thing lol yeah you can smell it in the air and paypal is not even in competition dont compaire paypal with bitcoins, paypal is the most shitty things i have ever seen paypal is most favorite payment options for scamer sadly mostly people on the internet use it and you can not run your store without it

[Beliathon]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

We are going to eat their lunch, every bite. As such, we should try to have some compassion for the masses who'll soon end up bagholders for fiat scrip.

Remember these people did nothing wrong - they were deceived by their banks and governments. They are the real victims here and we should be kind and generous to them.

[Kprawn]

no one can STOP Bitcoin 

Do not be so sure of that. If the banks develop their own version of the Blockchain and they get the governments to enforce it, we would be in trouble. Bitcoin would be banned as a currency and the merchants will

not be allowed to accept it as a currency. The governments already tried to slow it down with stupid regulations, but it's still going strong and they survived in the most regulated areas, but at a cost for the

general public. We will soon stand at the crossroads, where you will have to decide if you are going to support Bitcoin or the Ripp off BankCoin. 

[Herbert2020]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

it was very well expected of them to start fearing bitcoin and its technology at some point in time. bitcoin is threatening their share of the market, so they don't want to be left behind.

PayPal is going to die if bitcoin becomes big enough that replaces it, because it has very lower fees than paypal with a lot of other perks.

[LFC_Bitcoin]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

I know what you're saying, the thought crosses my mind a few times a day but the problem is average joe trusts their bank, PayPal etc. How do we ever grow so much that people laugh at the thought of a blockchain without bitcoin involved?

[Bitcoinpro]

Banks are not interested in bitcoin, but they are in the technology behind in. The blockchain technology to be specific. In this way, you can say: 'yes you can seperate bitcoin from the blockchain'.

i'm sure the blockchain technology would help banks and other instances like nasdaq a lot, but this will not affect the bitcoin itself.

Correct me if i'm wrong

Nasdaq is using the bitcoin blockchain.

blockchain without a token is a centralised database. useful of course. groundbreaking? no.

Correct me if im wrong but i was the first person on planet Earth to predict asset securitization using the blockchain  

[Bitcoininspace]

Banks going on about how Bitcoin is useless but the blockchain is great..

Paypal advertising sending money across boarders claming speed and security..

Can you smell it in the air?

The time is upon us people. This is the starting point of the future of money.