Are the banks going to kick-out bitcoin with their new digital coin

[dharnamonitor]

No sane person would ever use a cryptocurrency made by a bank.
This completely defeats the purpose of cryptocurrencies which aim to be trustless, decentralized and (to a certain degree) anonymous.
Therefore it's safe to say that a bank shitcoin won't 'kick-out' anything.

Yes, you're right. They will never replace the bitcoins and this would be a check mate for them. No one will return on a traditional type of transaction that relies on a third party and requires trust because we have now the technology and currently using it so why returning to the old ones? They're just wasting their time and money creating a centralized coins

[1714958442]

1714958442

[1714958442]

1714958442

[1714958442]

1714958442

[1714958442]

1714958442

[1714958442]

1714958442

[Notcalculator]

They will definitely give it a shot. They'll start to adapt and use the same technology bitcoin is using for record keeping. I don't think they'll succeed though, because essentially they'll still try to centralize it among themselves. Instead of using users as nodes they'll still be using banks as nodes for their blockchain and thus they'll still control it.

[kenkoy]

The idea is "The coin will let the businesses and companies pay for securities without waiting for traditional money transfers".

Faster transaction that regular banking trans. Thats the way i see it but the essence of decentralized and anonymity is still missing. Business is business, banks are seeing that cryto is the new trend now and they need to adapt on that to survive. Maybe a good potential, yet we need to wait for further developements on this "utility settelement coin"

[bitcoinrays]

Here comes the banks again screwing up whole blockchain and decentralized systems, crypto is what you call fighting against these corrupt banks and governments, yes these fools use this technology for their own profit, I hope me myself foremost and others do not trust these filthy banks and government tricks using blockchain, I hope they will never succeed to destroy bitcoin, and that they will faill in blockchain since this whole idea started just because they didnt want you in banks and governments !

Yes I agree with you that crypto currencies are fighting against these corrupt banks. And that’s why they do not like bitcoin and other digital currency. They have started a campaign in this regard to stop people buying and investing in bitcoin, because they want all the people to put their earnings in their banks. So that they would earn profit while using the people’s money in different sectors.

[drzed]

It stinks and no-one in crypto land will get involved with their crappy coins.
That said I can see massive marketing efforts by these banks aimed at farming potential newcomers to crypto over to their schemes rather that Bitcoin etc. We will see how it all turns out.

[noictib]

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain  cryptocurrency project,which first launched in 2015,  which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

I don't think these are fully true because I heard about the launch of blockchain technology like the bitcoin have by big banks shared supports but that didn't worked well at that time and now they were trying to make again that project ( new start of blockchain technology comes in the last of the last year ) .
But I don't think that they will kick out another coin , Because coins have the value in the internet world because of the only reason that they have trust in the people , so if the those new coin will be more trusted and better for the people then surely they will go toward those coins but here most of the trader will look at new Coin like altcoin only and will make use for the trading only like altcoin .
And the king that bitcoin will remain king , Because bitcoin have big supports of the users .

[olubams]

The banks with their effort would only contribute to the increasing awareness of bitcoin because by the time they are launching their campaigns of their digital currency, there is no way reference would not be made to bitcoin and for someone who is seeing it for the first time would want to know the origin of such and thereby find his way to bitcoin. Understanding the real thing about bitcoin will surely make anybody pick bitcoin above any other digital currency.

[Usui-Chan]

Will all due respect, these bank will issue some interests on their "bitcoin" whilst centralizing them. I don't think people would choose that over the liberty of using bitcoin, which is everywhere.

[TastyChillySauce00]

Will all due respect, these bank will issue some interests on their "bitcoin" whilst centralizing them. I don't think people would choose that over the liberty of using bitcoin, which is everywhere.

Some may still choose them, there's some people who would choose over bitcoin because of its decentralized feature and given the freedom away from the authority.
But, people who joined bitcoin community merely for "profits" and "money" could simply switch over to banks' digital currency by their interesting offer and centralized might not be a problem here.

[Andreas888]

If the banks create a currency, then it will definitely be pre-mined, and will be more centralized than any other crypto out there. this goes against the fundamental nature of cryptos, which is decentralization without a controlling authority. In my opinion, the only thing that could kick out Bitcoin is a crypto with more features and real world applications, ETH or IOTA or even the high-powered retail tokens like NucleusVision and AppCoins.

[twinkleakki94]

Yeah, the only way banks could kick out Bitcoin is if all governments banned it in the future to reestablish a fiat-run economy. Other wise, I'm looking at ETH, LTC, XMR, maybe XRP - these coins are the future along with whichever ICOs make it big (mostly probably the ones built on Ethereum blockchain)

[MarthaEllis]

No serious crypto-enthusiast would trust a coin launched by a bank, unless it had tremendous utility value. And besides, Bitcoin has far too much of a head start to ever have a Big Finance crypto ever topple it. Much more likely that ETH or IOTA (in an IoT-enabled world) would bring it down.

[tegarp90]

no. bank will be bankrupt because bitcoins and another cryptocurrencies overcome them. lol

[cipher-x_09]

I don't they have the authority or power to do such thing as they please it to be, it's possible for the central banks of the country if the government support their claims. But as far as lone bank no matter how powerful or influential they can be they could not do such things because it is beyond their capabilities.

[tomhutchinson]

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain  cryptocurrency project,which first launched in 2015,  which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

if bank will make p2p coin that mean they close them doors  else bitcoin will be better

[tomhutchinson]

Bitcoin is going to ‘Amazon’ the banks. Bitcoin is is a way to remove the third party from financial services. Just like Amazon to retail. Amazon comes in and they go direct to consumers. [This is going to be] the ‘bitcoining’ of the banks, said Brain Kelly.

This is new level of popularity of Bitcoin.

yes bitcoin is Future bank and market cap can be more than 10 T fast.

all will use it as investment like gold now

[Cryptoreflector_666]

We saw in the news earlier that about 10 strongest and biggest banks in the world are preparing to launch the phase 2 of their own blockchain  cryptocurrency project,which first launched in 2015,  which is said to aid them in settling transactions over blockchain.

Luigi wewege also said that the coin has the power to blow off other cryptocurrencies, especially the most rival of all coins “bitcoin” out of the market.

Continue reading => https://zycrypto.com/banks-going-kick-bitcoin-new-coin/

Apparently this person does not understand that competition is the engine of the economy. Creating competition with its banks, it only creates good conditions for the development of bitcoin in a competitive environment. In any case, we will play only a plus. The more coins of the bitcoin type the better for the market as a whole.

[Cryptoreflector_666]

Why won't they just use bitcoin itself rather than creating a new coin to do the things that bitcoin can already do? It's such a waste of time, effort and money to make a coin and try to "rival" other cryptocurrencies. If their focus is on trades and instant transactions, then just use bitcoin.

I think that their attention is focused on the capture of the market and the monopolization of the cryptocurrency as a whole. They just do not understand that the finished tool has a completely different structure of use than the Bank. If something more interesting enters the market, it will simply go bankrupt.

[AimHigh]

I don't think that banks kicking out bitcoin but I think that idea of improving or updating technology/digital is to adopt cryptocurrency because here in my country some of banks was now embracing and accepting bitcoin so I don't think that they Wan to kick out bitcoin but to adopt it. Banks was in the middle of war between of them and blockchain or cryptocurrency  if they didn't  think how to adopt it they lost everything so that now they are thinking how to adopt cryptocurrency.

[@Mhaiang]

How about ripple? I think this cryptocurrency is a currency that is backed by banks in the world, right? But still, bitcoin remains to be the most dominant crypto in the cryptoworld and whatever crypto these banks will create will surely not affect bitcoin.