Bitcoin Forum
May 22, 2019, 04:35:25 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2015-09-27] Banks, Bitcoin and Blockchain — a Recipe for Downfall  (Read 278 times)
upsidedown75
Legendary
*
Offline Offline

Activity: 1274
Merit: 1036



View Profile
September 27, 2015, 10:19:41 AM
 #1

Banks, Bitcoin and Blockchain — a Recipe for Downfall
Bitcoin has been around for about seven years and it has achieved great heights in such a short span. While bitcoin is already being adopted by a considerable number of people across the world, the technology that powers bitcoin transactions has become a bigger hit.
http://www.newsbtc.com/2015/09/27/banks-bitcoin-and-blockchian-a-recipe-for-downfall/

           ▄▄████▄▄
      ▄▄███▀    ▀███▄▄
   ▄████████▄▄▄▄████████▄
  ▀██████████████████████▀
▐█▄▄ ▀▀████▀    ▀████▀▀ ▄▄██
▐█████▄▄ ▀██▄▄▄▄██▀ ▄▄██▀  █
▐██ ▀████▄▄ ▀██▀ ▄▄████  ▄██
▐██  ███████▄  ▄████████████
▐██  █▌▐█ ▀██  ██████▀  ████
▐██  █▌▐█  ██  █████  ▄█████
 ███▄ ▌▐█  ██  ████████████▀
  ▀▀████▄ ▄██  ██▀  ████▀▀
      ▀▀█████  █  ▄██▀▀
         ▀▀██  ██▀▀
.
.WINDICE.
.


      ▄████████▀
     ▄████████
    ▄███████▀
   ▄███████▀
  ▄█████████████
 ▄████████████▀
▄███████████▀
     █████▀
    ████▀
   ████
  ███▀
 ██▀
█▀
.


     ▄▄█████▄   ▄▄▄▄
    ██████████▄███████▄
  ▄████████████████████▌
 ████████████████████████
▐████████████████████████▌
 ▀██████████████████████▀
     ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
     ▄█     ▄█     ▄█
   ▄██▌   ▄██▌   ▄██▌
   ▀▀▀    ▀▀▀    ▀▀▀
       ▄█     ▄█
     ▄██▌   ▄██▌
     ▀▀▀    ▀▀▀
.


                   ▄█▄
                 ▄█████▄
                █████████▄
       ▄       ██ ████████▌
     ▄███▄    ▐█▌▐█████████
   ▄███████▄   ██ ▀███████▀
 ▄███████████▄  ▀██▄▄████▀
▐█ ▄███████████    ▀▀▀▀
█ █████████████▌      ▄
█▄▀████████████▌    ▄███▄
▐█▄▀███████████    ▐█▐███▌
 ▀██▄▄▀▀█████▀      ▀█▄█▀
   ▀▀▀███▀▀▀
.


.


.
iOPlay NowOi
.


.



.
.
Follow Us
▀▀▀▀▀▀▀▀▀▀▀▀
1558499725
Hero Member
*
Offline Offline

Posts: 1558499725

View Profile Personal Message (Offline)

Ignore
1558499725
Reply with quote  #2

1558499725
Report to moderator
1558499725
Hero Member
*
Offline Offline

Posts: 1558499725

View Profile Personal Message (Offline)

Ignore
1558499725
Reply with quote  #2

1558499725
Report to moderator
1558499725
Hero Member
*
Offline Offline

Posts: 1558499725

View Profile Personal Message (Offline)

Ignore
1558499725
Reply with quote  #2

1558499725
Report to moderator
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1558499725
Hero Member
*
Offline Offline

Posts: 1558499725

View Profile Personal Message (Offline)

Ignore
1558499725
Reply with quote  #2

1558499725
Report to moderator
1558499725
Hero Member
*
Offline Offline

Posts: 1558499725

View Profile Personal Message (Offline)

Ignore
1558499725
Reply with quote  #2

1558499725
Report to moderator
RustyNomad
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile WWW
September 27, 2015, 02:15:46 PM
 #2

Nice article.

Sad to say but what the writer has to say about the impact banks will have on bitcoin adoption once they rollout their own blockchains is very true.

There is currently very little incentive for anybody to switch from fiat to bitcoin. The little incentive there is, is bound to disappear once the banks are able to offer the 'same' bitcoin has to offer in terms of speed, efficiency and low cost.

The one thing however that banks will never be able to offer is the fact that 'I'm my own bank' i.e. with bitcoin I'm in control of my own funds. With a bank you will never be. It will be similar to having all your funds in a wallet with an online exchange. You own the funds but you will never be in full control of it. The little control you do have can be taken away with the push of a button.

For most people out there this will however not be a problem and or even a thought to cross their minds as they are so used to being 'slaves' of their financial institutions.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!