Bitcoin woke up the Giants

[chesatochi]

I think bank will try to create they own cryptocurrency, but in the end is almost to make a profit. They don't have the control over Bitcoin and they scare to lose some market share, the reaction is to try to convince people with advertisements.

When a government of a bank lost control, they feel insecure because they own entity can disappear or they power diminish.

[c4s7or]

I think bank will try to create they own cryptocurrency, but in the end is almost to make a profit. They don't have the control over Bitcoin and they scare to lose some market share, the reaction is to try to convince people with advertisements.

When a government of a bank lost control, they feel insecure because they own entity can disappear or they power diminish.

And after their own blockchains failed they will say it is the proof that the whole bitcoin/blockchain thing doesnt work 

[Kprawn]

I think it is the other way around.... The giants woke the sleeping public. If we have the history of Bitcoin correct... then Satoshi created

Bitcoin, because he/she were frustrated with the corrupted banking system. Satoshi realized that we can solve that problem with technology,

and he created a decentralized network, that cannot be taken down.  .... This was the birth of Bitcoin. 

[BingoDog]

Whenever the banks are shaken and under some kind of pressure I'm happy.   Bitcoin has done a lot to change the finances and way they are functioning. The fact they want to use blockchain technology I also see as a succes of an alternative called Bitcoin and virtual currencies in general. Banks stil have some kind of fear of Bitcoin and that is good.

[Chris!]

Do you think is going to affect the price? I see lots of banks re buying and storing BTC to deal with potential ransom requests but this is BS. I m sure BTC can be much more useful in the financial sector.

I never did see any proof of this I just saw news articles about it without any real sources or quotes from bankers saying they were stockpiling bitcoins. Why wouldn't they just improve their security rather than "negotiate with terrorists"?

[error08]

I could see bitcoin technology compete with banks system, which one is offering better options related to services in banking world.
When people feels bank systems is better option to do their transaction which easier and trusted instead of bitcoin that still fledgling currency, could make bitcoin can't thrive rapidly.

[jak3]

nice words there and i am agreed with your statment that banks do not treat their clients well becoze they are just set of humans who have to handle the whole state every day and bitcoin on the other hand is like a self dependent servic people have the knowledge of their actions so thewhole network is working themself

[Shady]

Bitcoin surplus has benefitted long standing as well as new users, the systems in place before this were extremely valuable at the fact more structures such as the one you mentioned can come out of nothing.

In all respect, banks became smarter the past few years at decveloping function for external economies not limited by their standard usage.

I believe more will come after block technology evolves, moreover it'll aid the boom and make smaller alt-coins jump into this gold rush.

[pooya87]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps. 

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

yeah this is some good points but something to remember is that bitcoin is not yet that big a deal specially for these giants. you can compare the number of transactions that are happening with bitcoin compared to the number of transactions those giants you had in mind are handling daily, in comparison bitcoin is a grain of sand.

[Kakmakr]

Competition stimulates good business practice...

Unfortunately the so called "Giants" can not effectively compete with Bitcoin. All they can do is trying to delay and slow down customer exodus by offering improved service. In the long run however, no fiat-based payment provider will be able to offer a better product in terms of costs of service and earn money at the same time. Every Bitcoin user can just download a wallet and easily send payments everywhere, without requiring a third party.

All blockchain investments will turn out to be a pure waste of funds.

[...]

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

No we should not support Bitcoin to keep the "Giants" on their toes. We should support Bitcoin to get rid of "Giants" and use a free, sound and decentralized currency instead.

ya.ya.yo!

Agreed, but these Giants will get the support from their respective governments and at some time in the future, Bitcoin will get regulated to death and the same regulations will not be applicable to the banks and other financial institutions to favor them.

These Giants involvement with the governments should not be underestimated. Money is power and they will do anything to be in control of the money, because it gives them the power too.

[Pursuer]

whenever there is a growing trend in the world and that growing trend is related to money one way or another, it will always attract all kinds of different people, organizations,... to itself because everybody is looking for making more money.

however

...they suddenly dumped Billions of dollars into Blockchain based technologies ....

this is a different story.
this is just about these people interested in the technology and finding blockchain a good way of using it in their own centralized system and not related to bitcoin at all.

[davis196]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps.  

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

I don`t think that the banks improved their service because of bitcoin.

They improved their services because they compete against each other and want to get more customers.

I don`t think that most of the banks see bitcoin as a major competitor.

[Omegasun]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps.  

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

I don`t think that the banks improved their service because of bitcoin.

They improved their services because they compete against each other and want to get more customers.

I don`t think that most of the banks see bitcoin as a major competitor.

Bitcoin is not a competitor bank, it is their allies in terms of developing banking system nowadays. I think bank will bitcoin as a part on their system in the near future, But this will not gonna made easy because of anonymity feature of bitcoin that contradicts on legalality of banking system. Bitcoin is not a threat for Bank.

[serjent05]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps.  

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

I don`t think that the banks improved their service because of bitcoin.

They improved their services because they compete against each other and want to get more customers.

I don`t think that most of the banks see bitcoin as a major competitor.

Bitcoin is not a competitor bank, it is their allies in terms of developing banking system nowadays. I think bank will bitcoin as a part on their system in the near future, But this will not gonna made easy because of anonymity feature of bitcoin that contradicts on legalality of banking system. Bitcoin is not a threat for Bank.

I don't believe that bitcoin is an ally of bank.  If you look at the concept and ideology of bitcoin, it is leaning toward decentralizaiton which is the complete opposite of what the banks do, centralization.  It's that bank is being fluid now, adopting bitcoin impact and making it to their advantage.  That is what i see.

[chesatochi]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps.  

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

I don`t think that the banks improved their service because of bitcoin.

They improved their services because they compete against each other and want to get more customers.

I don`t think that most of the banks see bitcoin as a major competitor.

I agree that with your statement banks are competing each other to have more clients, without clients a bank cannot survive. Another example, now bank offer a new option that you can deposit a check simply taking a picture from your smartphone. Every bank will copy this idea and offer them to their clients in order to have advantage over they competition.

Right now they don't see it like a big threat, but if the bitcoin continue to rise and get more attention, the perception will change.

[Red-Apple]

the giants! have always been awake and watching bitcoin even from the start, you don't get to be big by letting these things slip through the cracks. and usually when we find out about it, it means it is already too late and they did what they wanted.

[xuan87]

Bitcoin has not just brought us a decentralized P2P payment system or a alternative for the banks. It woke the Giants in the Fintech world. Before Bitcoin, clients at banks were treated as the scum of the earth, even more so, when you are middle class or poor.

Bitcoin came in and they threatened to disrupt the Banking and Remittance services. What happen? These financial services realized that they will lose money, and they suddenly dumped Billions of dollars into Blockchain based technologies and also user-friendly banking services with 24 hour access via Social media platforms like Facebook Messenger and WeChat and some of their own in-house apps.  

We have not seen this level of attention given to clients for many years. Why, because the Giants were comfortable with their foot on our neck. They had the monopoly, backed by governments.

We should support Bitcoin to keep these Giants on their toes. If Bitcoin fails, these Giants will go back to sleep and we will be stuck with high fees and poor service.

I don`t think that the banks improved their service because of bitcoin.

They improved their services because they compete against each other and want to get more customers.

I don`t think that most of the banks see bitcoin as a major competitor.

I agree that with your statement banks are competing each other to have more clients, without clients a bank cannot survive. Another example, now bank offer a new option that you can deposit a check simply taking a picture from your smartphone. Every bank will copy this idea and offer them to their clients in order to have advantage over they competition.

Right now they don't see it like a big threat, but if the bitcoin continue to rise and get more attention, the perception will change.

Yes indeed because they know whatever crypto currency come out, it won't cause the bank to collapse, however they realized after bitcoin made it's name into public, more or less there will be decreasing transaction, and the bank also compete to attract customer to use their services, maybe that is one of the main reason why bank increase their customer service performance

[veleten]

every big bank in the world announced their blockchain based projects
I'm sure you will be able to find it on the web with ease,literally all of them introduced the so called "ransom stash"
where they keep a certain amount of coins to satisfy a hacker's demand after he had breached their security or found vulnerabilities
the giants are giants for a reason - they monitor the market constantly and they react to the changes,thats why they have special divisions besides marketing and god knows what
blockchain based currencies by the banks are in direct confrontation with bitcoins and my fear is and has always been that one of the giants
would be able to produce a better,more resilient to attacks,easier to use digital currency than bitcoin is
this would result in further monopolisation and centralisation of the money system of the world

[croutonhexagon]

Yes bitcoin is a revolutionary technology that is changing the money transfer and banking system. It has an extraordinary feature that makes our different and secure from other money system and so many multi national companies are starting to adopt bitcoin and they are changing the game even more.

[coynedterm]

Ofcourse , It woke up the giant of simple people also .
Because  of the high tax in high deal money we needs to pay extra money as sn charge but the beauty of bitcoin is making everyone to accepting it .