If you believe banks will work with Bitcoin, you're delusional

[Indrawan77]

I dont think bank will change its policy and adapting bitcoin, because bank wont let any anonymous customer put his wealth on the bank, when you want bank to adapting bitcoin,for sure you will be asked for identity verification

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[JasonXG]

I see this often "banks should start working with Bitcoin users since that's where things are headed, why not cooperate?".

If you think your bank is going to keep your bitcoins in some account then you can use your debit card to convert to dollars at the point of sale then you don't really understand the main revenue of banks.

Banks hold your dollars in their bank accounts. They then turn around and leverage your dollars in their account by 10 times to issue loans to people where they get their main revenue.

If people are holding their funds in bitcoins and only using banks as a transaction medium the bank is not making much money.

Don't expect banks to embrace Bitcoin. The reason they're all creating their own "blockchains" is so they can make it so that they can hold your funds and leverage it.

Every central bank warning about Bitcoin is another central bank realizing that they are going to lose if people start using Bitcoin.

If you think bitcoin and banks go together then you shouldn't really be here. That is the entire point of having bitcoin. Bitcoin and banks are enemies..... Where, there do people see working together ? I dont see working together I see the word enemies. Why would anyone want to use even a bitcoin only bank ? Your wallet is the safest place for them. Not some bank.

[BossMacko]

We do not need bank if we are using Bitcoin because our online bitcoin wallet, offline bitcoin wallet etc etc considered and works like a bank for Bitcoin. Integrating Bitcoin to bank is kinda lame when we can just only used our web wallets for transaction and savings.

[JasonXG]

I'm not agreeing with this because in the Netherlands I had read that they are even considering making their own coin, I think there are possibilities for banks honestly.

Lol I know right ? This guy reads something and just makes his own conclusions. I would hate to know what sort of things go on in his mind can you imagine ? It must be a scary place. There not enough hands in the world for that face palm.

[coinerer]

If they want and decide so, bank could always create its own modified version of the bitcoin - bank's  new altcoin (one of the similar thousands in the future).

No need to accept bitcoin with so huge blockchain or additional undesirable security risks (seen at the many exchanges or online wallets stealings) at all.

[coinerer]

Banks will never support Bitcoins, BUT, banks will in time develop their own cryptocurrencies.

Imagine Bank of England making it's own crypto currency, and BACKING it up with sterling pounds. Then you will see the bitcoin prize go to 0.

Bitcoin price will not go to the zero level because bitcoin has very big speculative value for Ponzi speculators.

[pooya87]

I'm not agreeing with this because in the Netherlands I had read that they are even considering making their own coin, I think there are possibilities for banks honestly.

dude we are talking about bitcoin here not an altcoin. anything you have heard is just them wanting to use the technology alone for starting their own centralized altcoins and we already have enough of those around: http://coinmarketcap.com

[Supercrypt]

We do not need bank if we are using Bitcoin because our online bitcoin wallet, offline bitcoin wallet etc etc considered and works like a bank for Bitcoin. Integrating Bitcoin to bank is kinda lame when we can just only used our web wallets for transaction and savings.

Yet there could be some specific advantages when you are having more options to buy/save/convert bitcoins.

I believe banks are going to do these work in very near future as the emerging bitcoin will definitely force them to do so. Because there will only less significant benefits for bitcoin ecosystem from that but definitely banks will benefit much more from that.

[numismatist]

Banks will never support Bitcoins, BUT, banks will in time develop their own cryptocurrencies.

Imagine Bank of England making it's own crypto currency, and BACKING it up with sterling pounds. Then you will see the bitcoin prize go to 0.

Bitcoin price will not go to the zero level because bitcoin has very big speculative value for Ponzi speculators.

Those are mostly derivatives surrounding it. Bitcoin itself isn't exactly a pure Ponzi.

By the way the investments into hashing hardware will still exist, such things cannot become valueless over night.

[danherbias07]

I do believe that also. If you just keep your bitcoins in their vaults then where would they get their profits? Problem is they want to borrow every money of those people who are keeping theirs in their banks. No money no loan no profit for them. The worst part is they will pay more with the increasing price.

[ljudotina]

Banks couldnt care less for Bitcoin. As soon as regulations are set, they will adopt it just like they adopt any other world currency on which tehy can make money. There is no suc thing as "not making enough money". If they find out that they can make money out of btc storage / transfers/ transactions they will do it as soon as demand is big enough and regulations are set. No regulations no bank adoption.

[Tanic]

I see this often "banks should start working with Bitcoin users since that's where things are headed, why not cooperate?".

If you think your bank is going to keep your bitcoins in some account then you can use your debit card to convert to dollars at the point of sale then you don't really understand the main revenue of banks.

Banks hold your dollars in their bank accounts. They then turn around and leverage your dollars in their account by 10 times to issue loans to people where they get their main revenue.

If people are holding their funds in bitcoins and only using banks as a transaction medium the bank is not making much money.

Don't expect banks to embrace Bitcoin. The reason they're all creating their own "blockchains" is so they can make it so that they can hold your funds and leverage it.

Every central bank warning about Bitcoin is another central bank realizing that they are going to lose if people start using Bitcoin.

That is totally right what you are saying. I have never thought about such details, but it really has sense. before the idea of bitcoin bank doesn't seemed me so ridicules.

[raja2sumi]

no it will happen ever that banks will work with bitcoins .then the founder of bitcoins will think why did i make bitcoins>?his goal was to get erased of any goverment events but with banks occupying it  ,it will be just hell like situations.

[cinchin]

Are you sure?,i see many banks relate with Blockchain develop Bitcoin
If banks not work with Bitcoin,why banks relate with blockchain?

[thejaytiesto]

Sooner or later banks will attack at full force meaning that they will ally with governments and put on a full ban on bitcoin, by then we must have a software that is censorship resistant, decentralized and ready os pread the nodes in countries where its legal and also illegal to run nodes but running them through masked networks like tor. We can't never give up no matter what, banks will never cooperate they will attack so be ready.

[coinerer]

Sooner or later banks will attack at full force meaning that they will ally with governments and put on a full ban on bitcoin, by then we must have a software that is censorship resistant, decentralized and ready os pread the nodes in countries where its legal and also illegal to run nodes but running them through masked networks like tor. We can't never give up no matter what, banks will never cooperate they will attack so be ready.

Extremely fast growing size of the blockchain is the biggest enemy of decentralization.

People will not use their own wallets mostly, and they will go to online wallets as easy "solution" which is too much risky. I am not sure in fully decentralized solution of such problem.

[shinratensei_]

I'm not agreeing with this because in the Netherlands I had read that they are even considering making their own coin, I think there are possibilities for banks honestly.

Lol I know right ? This guy reads something and just makes his own conclusions. I would hate to know what sort of things go on in his mind can you imagine ? It must be a scary place. There not enough hands in the world for that face palm.

He was arguing himself with misunderstanding.

Are you sure?,i see many banks relate with Blockchain develop Bitcoin
If banks not work with Bitcoin,why banks relate with blockchain?

Blockchain it's not about bitcoin, you can read some about hyperledger blockchain project and it was outside of the bitcoin ecosystem.
http://www.eweek.com/cloud/hyperledger-blockchain-project-is-not-about-bitcoin.html

[HarryKPeters]

Sooner or later banks will attack at full force meaning that they will ally with governments and put on a full ban on bitcoin, by then we must have a software that is censorship resistant, decentralized and ready os pread the nodes in countries where its legal and also illegal to run nodes but running them through masked networks like tor. We can't never give up no matter what, banks will never cooperate they will attack so be ready.

Well I have to disagree.
Banks policy toward Bitcoin has become more and more timid, offcourse they will never be fanboys but they see money in an immature market so why not profit.
That's what they are thinking. It's plain solid they are afraid of competitors so they don't make official statements.

[Botnake]

Sooner or later banks will attack at full force meaning that they will ally with governments and put on a full ban on bitcoin, by then we must have a software that is censorship resistant, decentralized and ready os pread the nodes in countries where its legal and also illegal to run nodes but running them through masked networks like tor. We can't never give up no matter what, banks will never cooperate they will attack so be ready.

Well I have to disagree.
Banks policy toward Bitcoin has become more and more timid, offcourse they will never be fanboys but they see money in an immature market so why not profit.
That's what they are thinking. It's plain solid they are afraid of competitors so they don't make official statements.

Banks are certainly preparing already of the method they can compete with bitcoin, they cannot just simply eliminate it to push to us the fiat system without using any alternative currency. Banks are simply transparent and they do not fit with bitcoin being anonymous, the system cannot be merge and they cannot work together. We always like to use fiat an bitcoin and hope nothing will be sacrifice and this two will co exist in the future.

[lumeire]

I'm not agreeing with this because in the Netherlands I had read that they are even considering making their own coin, I think there are possibilities for banks honestly.

'Considering' is very much different with 'working' with BTCBTCBTC IMO. It's still a long way.