Bitcoin connected to our banks!!!

[rishad quraishi]

In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

[pozmu]

Banks can't work with bitcoin, search "fractional reserve". Banks may offer some Bitcoin services in future but it won't replace fiat services nor it will be possible to seamlessly juggle/ exchange between bitcoin and fiat.

[Peacemaker1994]

In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

Firstly it's called bitcoin wallet and I don't think it's possible to transfer your money into bitcoin wallet  WHY NOT JUST CONVERT YOUR MONEY  IT INTO BITCOIN AND SAVE IT IN YOUR WALLET

Secondly if bitcoin is in CO-OPERATION with the banking system this might make bitcoin lose its decentralized state which makes it unique from other currencies then the value of the bitcoin and cryptocurrency might be lost. Bitcoin would not be another currency in the hands of some bodies, organisation or countries

[Caxton10]

This will be a good thing for bitcoin as it will create more usability of the coin but the downside is that banks do not like how sharp the price of bitcoin changes on the market and hence the hesitation. If the price of bitcoin is steady and banks are working with it, I believe it will benefit both parties.

[Surge_Dev]

I think that with time we will have great changes in the banking system and I am sure that btc will be the leader. perhaps, it will be connected to banks but i don't know for sure whether this may happen

[ngm22585]

Banks are working with Ripple already.

[indoagung88]

Although this possibility is too small if the Bank opens a wide door for bitcoin, but this is very interesting to discuss. But actually at the moment there are some things that are more important and need to think about bitcoin now, the price that has not been seen will jump !! This is what I think.

[batang_bitcoin]

But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

It will do good for the banks, they will have an additional service and they can cater fees with those transactions. And on our part, well its also a good adoption which is expected to come very soon. The banks doesn't have a choice but to stop it or just simply adopt it so they won't have any tough competitor with their clients. Although our bitcoin wallets serve as our bank accounts already, they can be integrated to them and we can just simply convert our btc to fiat anytime and have a real-time deposit.

[hildacitra]

As long as it has good goal for better transaction or payment services I think it is should be done. If you think that Bank work together with Bitcoin, I do not believe it would happen because Bitcoin is the opposite of banks.

[Pinkris128]

In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

I think banks wouldnt let that happen because bitcoin was a decentralised currency which no one can controls it value. But for transactions method it was good to used bitcoin because it was fast and easier which less hassle for people who are in a hurry.

[bloodyvio]

Banks are working with Ripple already.

actually not all banks accepts Ripple XRP lol

But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

that's good if it really happens for us or banks
but i think it's very difficult to happen because bitcoin is always hindered by various government regulations

and actually with bitcoin we become our own bank
so why should we connected with regular bank?
if you want to convert to Fiat, there are many exchanges that support crypto to Fiat

[dothebeats]

They might implement]such services in the future but in the meantime, any effort persuading them to do so is dire. There's not much places to spend bitcoins anyway and if ever they'd reconsider, it would be a tough call considering that banks follow the fractional reserve system in accepting deposits. A few services here and there would be cool, but not to the extent that you can directly withdraw cash from your bitcoin deposits just like what you do on exchanges.

[kucritt]

if government accept bitcoin, i think it will happen because bitcoin will be the legal currency when government accept bitcoin, and the bank have the access to use bitcoin for their services,

[Altf4]

As the time goes by for the era of cryptocurrency , it can not be denied that their are many people would go into cryptocurrency , especially the open minded people that adopt cryptos ,so there will be time that banks will be connected to cryptocurrency for banks business is about financies and currencies ,that might be a great possibilities of cryptocurrencies goes with banks for business.

[doodle07]

Banks are just doing it for their sake, adoption of bitcoin will add more fees for them. Its like joining the business of your competitor, bitcoin has been a big threat for them so now they are dealing with it to be able to stay alive.

[Vektrum]

Banks can't work with bitcoin, search "fractional reserve". Banks may offer some Bitcoin services in future but it won't replace fiat services nor it will be possible to seamlessly juggle/ exchange between bitcoin and fiat.

In my country (Ukraine), in a bank digital wallet, it has long been possible to transfer Bitcoin and use it for shopping. True, from this wallet it can no longer be withdrawn. In fact, after transferring to the wallet, the bitcoin itself is withdrawn from the wallet by the bank, and we have the opportunity to make various transactions for the sum of the bitcoin value in online mode. That is, the purse continues to indicate the amount in Bitcoin and its equivalent in local money.

[xtrump101]

Banks can't work with bitcoin, search "fractional reserve". Banks may offer some Bitcoin services in future but it won't replace fiat services nor it will be possible to seamlessly juggle/ exchange between bitcoin and fiat.

it will replace and it is possible but it takes a matter of time to happen, some points i see that it will happen is that if small merchants, businesses and department stores will integrate cryptopayments used as microtransation then thats the time will be seeing real adoption, but for now only few merchants are doing it and most happens in digital goods and services online..

[Renal]

if we look at the development of bitcoin at this time it is only natural to transfer our money to our bitcoin wallet from our bank account as long as all countries in the world want to legalize bitcoin let alone bitcoin is a new blockchain-based technology that is very effective security and transactions that are so fast Bitcoin should be the leader for the future.

[binhvo1505]

In future if bitcoin is allowed in countries around the world and most online based companies will start to allow bitcoin as their payment currency/gateway/exchange. But what do you think if we would be allowed to transfer our money to our bitcoin wallet from our bank accounts like PayPal does? Will it be a good thing for banks and us?

That is a very interesting thing but the government has easy control over it and you will be taxed very high. You know, any new industry that makes a big profit is taxed very high, that is the rule. But that would not hurt too much when the crypto market capitalized at $ 1 trillion.

[pooya87]

USD is accepted everywhere but for example if you live in a country that is not US and want to deposit USD in your bank account they won't accept it (there are exceptions though) you have to exchange it first to your local currency and deposit that.
bitcoin won't be different. there will be exceptions, meaning some banks will eventually allow bitcoin deposits/withdrawals or in short bitcoin accounts while the rest will continue like before meaning only working with local currency.