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Author Topic: Banks to become Exchanges  (Read 146 times)
cryptomoon123
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January 18, 2018, 11:17:08 AM
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I foresee that banks will start to accept bitcoins in near future and will allow customers to trade and do bitcoin lending activity as well. What will be it’s impact on platforms like SALT  or ETHLEnd ?

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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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High fees = low BTC price


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January 18, 2018, 12:03:38 PM
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The "Lightning Network" introduces banks into Bitcoin but the development team are trying to obfuscate this
fact by talking about channels and hubs

Channel              =             Credit line
Hub                    =             Bank that charges fees and keep a private balance sheet
BTC Block  Chain =             Central Banks

See https://bitcointalk.org/index.php?topic=2776719.0

They must think that my name is "Bob the Builder"

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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January 18, 2018, 01:02:19 PM
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I foresee that banks will start to accept bitcoins in near future and will allow customers to trade and do bitcoin lending activity as well. What will be it’s impact on platforms like SALT  or ETHLEnd ?
I don't know if this the right section for this discussion. It's like this comparison.
North magnetic pole = bitcoin
South magnetic pole = banks
And recently, https://www.cnbc.com/2018/01/17/visa-will-not-process-bitcoin-transactions-says-ceo-alfred-kelly.html
stantpro
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January 18, 2018, 02:54:40 PM
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The impact in such platforms mentioned is only reduction in transaction traffic
as some customers would have shifted or defected to banking platforms.There is
a solution to this sort of occurence.The mentioned platforms need to reduce there
charging rates while giving some incentives with promos.
BenOnceAgain
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January 18, 2018, 05:50:46 PM
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I foresee that banks will start to accept bitcoins in near future and will allow customers to trade and do bitcoin lending activity as well. What will be it’s impact on platforms like SALT  or ETHLEnd ?

My organization, BTRIC, is studying community interest in establishing a U.S.-based federal credit union that specializes in cryptocurrency accounts, personal and business.  It is becoming more clear that financial institutions are limiting people's access to fiat/crypto gateways.  The appealing thing about a credit union is that it is owned by each accountholder, is a non-profit and returns any profits to members as dividends, and can offer banking services to the entire cryptocurrency industry on fair and transparent terms.  I have had initial discussions with the NCUA, which is the agency that grants federal credit union charters.  I need to build more of a following behind BTRIC to accomplish what we can do for the ecosystem, so I encourage you to take a look at our organization and consider supporting it. (See signature for ann thread and website/white paper.)

Though the ultimate destination of crypto is to eliminate banks/financial institutions, that goal is not going to happen overnight.

BTRIC is a non-profit, so contributions to our organization are tax-deductible, which is a great way to offset capital gains taxes.  In addition, projects that we incubate under BTRIC's Project Incubation Program will be later spun off as separate organizations (businesses), and donors will be rewarded when they perform their ICO/ITO (subject to legality of course, read our white paper for full details).

Best regards,
Ben

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Need help with your project? [MY WEBSITE] | [MY COMPANY] | [BLOG] | [TWITTER] | [LINKEDIN] | [EMAIL]
Want to help support the blockchain charity I'm building? [LEARN ABOUT BTRIC] | [DONATE] | [TWITTER] | [EMAIL]
cryptomoon123
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February 11, 2018, 05:10:55 AM
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One seconds. Its not a competition. Its a collaboration that can benefit both - bitcoin as well as banks. Don't you agree that it will benefit bitcoin ?
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February 11, 2018, 08:29:22 AM
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I also expected this but they will accept this with some rules or laws. They can't just accept it without any regulations. Here in my country some already accept bitcoin as payment but our government institution tells us to be careful with our transactions because we might lose a lot of money.

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February 11, 2018, 10:47:18 AM
 #8

I foresee that banks will start to accept bitcoins in near future and will allow customers to trade and do bitcoin lending activity as well. What will be it’s impact on platforms like SALT  or ETHLEnd ?
I don't know if this the right section for this discussion. It's like this comparison.
North magnetic pole = bitcoin
South magnetic pole = banks
And recently, https://www.cnbc.com/2018/01/17/visa-will-not-process-bitcoin-transactions-says-ceo-alfred-kelly.html
Some opinions state that Bank and Bitcoin are very different things. So when we declare that there will be cryptocureencies that will be accepted by the bank then it will sound unconvincing. but some time ago we've seen that there is a good chance of coin, one of which is the ripple which is now starting to cooperate with the government. It can prove that there is still a chance, although many people do not believe but the ripple can start to make it real.
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February 11, 2018, 11:49:35 AM
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I foresee that banks will start to accept bitcoins in near future and will allow customers to trade and do bitcoin lending activity as well. What will be it’s impact on platforms like SALT  or ETHLEnd ?



banks are usually public institutions that will depents vastly on the impact of the local "authorities"

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February 11, 2018, 12:13:52 PM
 #10

are you talking about 'real' bank in real life? if so, which bank and in which country?
because bank as institution must abide laws and regulations set by local nation authorities
and the idea of bank (centralized) and bitcoin (decentralized) is totally opposite

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February 11, 2018, 02:15:57 PM
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are you talking about 'real' bank in real life? if so, which bank and in which country?
because bank as institution must abide laws and regulations set by local nation authorities
and the idea of bank (centralized) and bitcoin (decentralized) is totally opposite

jes although the reality has become in a way that banks started to run fund and controll those "authorities"

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February 11, 2018, 02:48:54 PM
 #12

This is wonderful concept or has it already implemented? This means that bitcoin is secured of there are banks offering bitcoin exchange. Anyway I kbow that bitcoin has gone through lot of development after it is being attack woth malware applications as I have read some infos regarding with bitcoin security. Well this could be a good news to everybody. This will lead the investors to open again in trading bitcoins. And thanks to all the admins whom were doing great and exerting efforts to update the system. Kudos to all.
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February 11, 2018, 05:02:26 PM
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It's a natural fit no matter what banks feel about it for now. Shitholes like Bitfinex must be not too far off billions in profit these days. Imagine what the banks could make. For better or worse it's also what the average user wants. Most people care not about defeating the banks.

I don't believe there'll ever be lending with crypto. It simply does not make sense. There'll always be the need for exchanging. I don't really know how the banks will handle the required security though. In 5 or 10 years the amounts waiting to be stolen will be staggering and they can't magic up refunds from nothing.


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February 11, 2018, 06:40:21 PM
 #14

i think is very imposible if real banking can open service exchanger, and open bitcoin lending service
until now bank is never open service bitcoin trading site
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February 11, 2018, 07:02:11 PM
 #15

Salt and ethlend are just some bullshit for me... Not a future for them, that's just what I think.
In the future, I believe banks will want to get into this. Everybody wants to eat  Grin

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March 21, 2018, 10:57:27 PM
 #16

I believe....yes, in the future.

Bank of America Wins Patent for Crypto Exchange System

https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/
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