How are you sure that Bitcoin will be operated in the bank in the future?

[LuanX3]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

Because banks are still needed and they serve a particular and separate purpose than cryptocurrency! I don't get why people argue that banks should disappear because of cryptocurrency. Banks do two things. They accept peoples deposit and they lend those deposit to borrowers. Basically it distributes unused money. Banks are hipsters, they started the "sharing economy!"

[webtricks]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

If we see the present progress, many banks around the world have adopted the blockchain technology for data remittance but none has used it for issuing tokens or transacting Bitcoins.
In future, we could see banks offering investment in Bitcoins. They could create Bitcoin reserves and offer people returns. But again limited supply makes the utopia too good to be true. However, there are no chances that banks gonna use Bitcoins in their operations.

[reflector]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

If we see the present progress, many banks around the world have adopted the blockchain technology for data remittance but none has used it for issuing tokens or transacting Bitcoins.
In future, we could see banks offering investment in Bitcoins. They could create Bitcoin reserves and offer people returns. But again limited supply makes the utopia too good to be true. However, there are no chances that banks gonna use Bitcoins in their operations.

These are all may we see in future but ETH would be option for them due to rate of growth when compare with bitcoins. We are seeing ICO and other projects by Etherum based smart contracts.
Of course future will be run with the digital currency option only but corporates and people hating bitcoin will never let it run like that.

[hubballi]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

If we see the present progress, many banks around the world have adopted the blockchain technology for data remittance but none has used it for issuing tokens or transacting Bitcoins.
In future, we could see banks offering investment in Bitcoins. They could create Bitcoin reserves and offer people returns. But again limited supply makes the utopia too good to be true. However, there are no chances that banks gonna use Bitcoins in their operations.

These are all may we see in future but ETH would be option for them due to rate of growth when compare with bitcoins. We are seeing ICO and other projects by Etherum based smart contracts.
Of course future will be run with the digital currency option only but corporates and people hating bitcoin will never let it run like that.

What ever the coin can make a development but it cannot touch the real technology of bitcoin which is following. other altcoin are operated by its developer and even if they are offering their platform for other developers to develop it. but still it is getting depended on that coin. But if the coin developer just leave the project then all will get scammed.

[Ucy]

The Russian and Kazakh central banks are already engaged in the introduction of crypto-currency into financial systems. Over time, banks will operate on them.

Let me tell you what banks want to do with Crypto Currencies : They want a Coin which they can control centrally and access will be strictly

monitored and controlled by them. {As is being done with KYC/AML regulations now} All your tx's will be linked to your identity and eventually

their version on Bitcoin, will replace Fiat {cash} The supply will also be manipulated by them. This is coming ....be ready for it.  

The intention is to completely destroy decentralized Cryptocurrencies with their own centralized cryptocurrency. I have strong feeling the idea will fail especially if the intention is really to render decentralized Crypto useless.

[Paid Piper]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

If we see the present progress, many banks around the world have adopted the blockchain technology for data remittance but none has used it for issuing tokens or transacting Bitcoins.
In future, we could see banks offering investment in Bitcoins. They could create Bitcoin reserves and offer people returns. But again limited supply makes the utopia too good to be true. However, there are no chances that banks gonna use Bitcoins in their operations.

These are all may we see in future but ETH would be option for them due to rate of growth when compare with bitcoins. We are seeing ICO and other projects by Etherum based smart contracts.
Of course future will be run with the digital currency option only but corporates and people hating bitcoin will never let it run like that.

i do not think that they will keep any option, they are going to start with bitcoin only and if they become succeeded to manage then they can take another option but till that they do not need for any other option.

[Adbitco]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

The blockchain will replace all the banks and their transaction serivces.
The blockchain is the new global financial system.We don`t need bankers anymore.They are parasites.
This is just my opinion.OP,your should change the title of your thread.
The question is a little bit confusing.

That's the only thing likely to happen and that is banks will have their own blockchain but unlike bitcoin's they will be centralized ones. Bitcoin is a decentralized digital currency and is independent of any bank and in fact bitcoin doesn't even require a bank for it's existence. It's just possible that you may see banks vanishing from the scene but bitcoin's being operated in the banks is far from happening.

[CuriousInvestor]

In the future, maybe everyone will be their own bank...that is sort of the point of a decentralized protocol. Of course there will be some financial mediums still.

[xuan87]

The Russian and Kazakh central banks are already engaged in the introduction of crypto-currency into financial systems. Over time, banks will operate on them.

Let me tell you what banks want to do with Crypto Currencies : They want a Coin which they can control centrally and access will be strictly

monitored and controlled by them. {As is being done with KYC/AML regulations now} All your tx's will be linked to your identity and eventually

their version on Bitcoin, will replace Fiat {cash} The supply will also be manipulated by them. This is coming ....be ready for it.  

That is exactly what the bank and government wanted, they want to monitor every single movement of our transactions and they want to control the coin, I am sure government will try to regulate bitcoin, but when the government version of bitcoin being created there will be no one interested on it, the banking system and Bitcoin got an opposite system

[doomloop]

I don't trust banks. They are also inflation do nothing else. I think that does not need any bitcoin Bank. For me, it is quite safe e-wallet to store coins. Earn coins better work. All interest on deposits offered by banks eventually inflation eats.

you are right here a lot of people are not interested in keep large amount of their saving in banks now because banks are not giving good profit now and people wants some output of their investment. Banks are not so much secure for the cash saving as well and always give slow profit so that’s the reason why everyone likes bitcoin now.

[JoMarrah Iarim Dan]

Well I am not sure if  Bitcoin will be operated in the bank in the future. If the bank operated bitcoin meaning to say bitcoin is tolerated as currency in a country. The government accepted bitcoin and bitcoin can be use by the government in some ways. Well we are in a new generation, everything we think is impossible becomes possible no one knows what will happen next.

[Lorilikes]

Bitcoin is beautiful because it is a decentralized, peer to peer .  Banks will spoil the fun don't you agree?

[ophyrim]

Bitcoin is beautiful because it is a decentralized, peer to peer .  Banks will spoil the fun don't you agree?

You are absolutely right. The main aim of the bitcoin and many altcoins is decentralized, peer to peer and sometimes anonymity. This is exactly the opposite of current bank and government's system. But i am afraid in the future the banks and the government will control the cryptocurrencies. Even now, i am sure they are trying to control it.

[dryandry]

Banks do not suit with bitcoin
Banks need a difficult way to transfer money and we need register with our identity
Bitcoin only takes two people connected to the internet it is enough
Leave bitcoin as-is now

[LeGaulois]

Hoping to see the banks using cryptocurrencies (any) is just asking for centralization, wich is the total opposite of the cryptocurrencies ideology. If banks have to use it then it shall be done with our own rules and not theirs, otherwise there is no use to re-invent the same wheel where finally we don't have much freedom with our own money. The day we will be able to see the traditionnal banking system adopting crypto will be only in their own interests to get their share

[olubams]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

Nobody is sure of what the future holds for everyone of us but for me, I will have to take the pessimistic view on the adoption of bitcoin by the banks which I feel will be a complete deviation of what bitcoin stands for which can equally be interpreted as an hijack of the the whole process. There is an option of them to adopt the blockchain technology to make them more transparent which is enough for them.

[avikz]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

I don't believe bitcoin will be operated by majority of bank in future because it is a threat to the conventional banking system. At least that's how the top bankers are seeing it. Bitcoin is decentralized and that's what is not acceptable for them. Banks want to control money and government want to control power.

Bitcoin is providing money to the hands of the people and money means power to the government. So neither government nor banks will support free distribution of bitcoin in to the economy. At least they will not openly support it. Instead they will try to launch their own digital money and ask people to invest in it.

[Red-Apple]

who said it won't?
if bitcoin becomes more adopted than this and the countries continue regulating it as they are right now, soon we will need the services that banks offer.

The service that a bank provides is the ability to access your physical cash as "digital money" - a number in a bank's database.  This is because earlier systems of digital money required an intermediary to be spent conveniently.

Bitcoin changes this.  That's basically the whole point of its existence.  You can have access to your coins as if it were cash, and have full sovereignty of funds.

It's suicidal to suggest going back to the days of banks.  If you want a loan, you would get it from a regulated loan company and most likely have to give your personal details to them.  That's okay, but your bank doesn't have to have full control over all of your possessions and money.

it just has not yet offered all the services a traditional bank offers. services such as loan, credit cards,...

Loans are how banks create money.  New money is introduced into the economy because banks make it up out of thin air to give it as loans.  Real loans would be giving out money which actually exists.

As for credit cards, they are just a means of encouraging people to go further into debt so that more debt-based money can be created and sustain the economy.

it doesn't matter how you define each one of these services. at the end of the day all of these services that banks offer are services that we all want and use at some point.

for example everyone is using credit cards, many of us have taken loans, most of us have deposit accounts in banks to get annual profit each month, .... and a lot more

[qwertyup23]

What is the essence of banking system since 2009 in the advent of cryptocurrency? It is well known that the globally has new invention which has manifested in our economic systems. Cryptocurrency has became indispensable in this world of humanity, which can be advisable for banks to adhere to this idea so that it could later become visible escrow members.

I don't believe bitcoin will be operated by majority of bank in future because it is a threat to the conventional banking system. At least that's how the top bankers are seeing it. Bitcoin is decentralized and that's what is not acceptable for them. Banks want to control money and government want to control power.

Bitcoin is providing money to the hands of the people and money means power to the government. So neither government nor banks will support free distribution of bitcoin in to the economy. At least they will not openly support it. Instead they will try to launch their own digital money and ask people to invest in it.

Exactly! Here in the Philippines, our Central Bank (BSP) sees bitcoin not as money but as property thus, it is not subject to legal tender. Due to this, government intervention at the moment may seem impossible. As you said since bitcoin is decentralized, if banks control it this would eliminate the chance of everyone earning bitcoin. This would also result to potential price drop and lower investments made. I am sure the government knows this and that is why they avoid it at the moment.

[gribble]

No, bitcoins will not be operated in Banks because bitcoins is decentralized it is not like fiat money
but the bank will adopt technology behind of bitcoins,
the Banks in the future will adopt technology of blockchain in their business of banking system
or their business will be died because technology of blockchain is more cheap than tradition of payment system.