Bitcoins joins the bank

[Trender]

Hey there! I was always thinking that merging banks and crypto is a good idea. I even use a prepaid euro card balckcatcard with a crypto wallet linked to it. I make crypto-fiat or fiat-crypto exchanges straight from the wallet to the euro account or vice versa.

[elisabetheva]

for me there is no influence whatsoever from the news that happens, it is normal for all people who want to give their opinion on the existence and treatment of bitcoin. for me it is legitimate but everything now returns to individuals of the person who received the information, many who already know and are not shaken to continue to give bitcoin treatment as it already exists and have not changed at all. because for investors is bitcoin can provide benefits that can be adapted in the future and always continue to be sought.

bitcoin and banking are two different things and have run by themselves, if the bank wants to accommodate the needs of bitcoin, of course it is a plausible thing as long as it remains profitable for banks, but if it harms it certainly will not be used. During this time without bitcoin banking can still run by itself because there is already a separate market share.

[Sanugarid]

I also believe that sooner or later banks will offer Bitcoin related services to their clients, like Bitcoin accounts, credit cards or loans. However, that will not happen over night and although sime banks are testing Bitcoin and cryptocurrencies in general that is still far from implementation in reality

I barely remember what bank that is but I know there are already banks that is offering bitcoin as an investment, it sounds crazy tho coz they suppose to protect people from losses yet they have it. I pretty much like how they introduces it to people, and people are wary about the volatility of cryptocurrencies especially with bitcoin. I heard there are also central crypto banking that is being tested right now, maybe we'll stick into that rather than using bitcoin, or we will have it both in the future.

One of the big obstacles for incorporating Bitcoin into banks is regulation or better to say the lack of it and also relatively small number of interested clients. We have to be honest and say that still small number of people around the world is using Bitcoin and banks are interested in high profit.

Even now laws aren't as strong as the fiat currency, the problem with cryptocurrencies are always up on the table for talks.

[Elby]

Hey there! I was always thinking that merging banks and crypto is a good idea. I even use a prepaid euro card balckcatcard with a crypto wallet linked to it. I make crypto-fiat or fiat-crypto exchanges straight from the wallet to the euro account or vice versa.

National banks already testing out their own cryptocurrencies, but are all stable coin.

[peter0425]

Hey there! I was always thinking that merging banks and crypto is a good idea. I even use a prepaid euro card balckcatcard with a crypto wallet linked to it. I make crypto-fiat or fiat-crypto exchanges straight from the wallet to the euro account or vice versa.

National banks already testing out their own cryptocurrencies, but are all stable coin.

Kindly share one of those national banks that has their own cryptocurrency?

Sorry but seems like i missed that News.

[Kahan848]

National banks already testing out their own cryptocurrencies, but are all stable coin.

So basically, they're testing anything but actual cryptocurrency

[Ozero]

Hey there! I was always thinking that merging banks and crypto is a good idea. I even use a prepaid euro card balckcatcard with a crypto wallet linked to it. I make crypto-fiat or fiat-crypto exchanges straight from the wallet to the euro account or vice versa.

National banks already testing out their own cryptocurrencies, but are all stable coin.

Now about 80 percent of states are considering introducing nationally stable coins. However, this is simply their digitized regular currency.
Central banks of states will be forced to work with a decentralized cryptocurrency. I also do not see another way for cryptocurrency. In order to successfully develop, cryptocurrency requires cooperation with states and their central banks.

[uneng]

After the last decentralized finance (defi) projects hype/trend I'm sure traditional banks will do something to reach closer to the features crypto currency universe is offering to its enthusiasts. However they can't control bitcoin, what isn't interesting for banksters goals , so it's normal we see even more altcoins surging and bitcoin market dominance decreasing, at least on the medium run.

What I see is crypto currency developing very fast. This universe is very volatile and doesn't stay idle for much time. Every year is different from the previous ones. It really makes me think that changes regard the relation between banks and crypto currency is going to happen very soon and I just hope we, common users, can benefit ourselves from these changes and not only the banksters.

[rodskee]

Every year is different from the previous ones. It really makes me think that changes regard the relation between banks and crypto currency is going to happen very soon and I just hope we, common users, can benefit ourselves from these changes and not only the banksters.

Great, it's indeed the dream of every individuals who are already into this business,
coexisting with banksters and have the share rewards.
Most of us are hoping that this relation will happen and reward a good benefits to
people who believe that it will succeed.
Though it will take time but being positive that everything will go according to the
direction where bitcoin will be adopted and be used.

[Emmychris]

In past years many people rejected Bitcoin, some called it fraud, some said it's been used for illegal activities so therefore there can't work with, but as time goes on bitcoin started developing and becoming more successful, people started seeing the benefits of working with bitcoin, many who rejected Bitcoin started buying and owning good amounts of bitcoin, even banks are now coming closer to bitcoin and soon bitcoin will get mass adoption.

[Debonaire217]

In past years many people rejected Bitcoin, some called it fraud, some said it's been used for illegal activities so therefore there can't work with, but as time goes on bitcoin started developing and becoming more successful, people started seeing the benefits of working with bitcoin, many who rejected Bitcoin started buying and owning good amounts of bitcoin, even banks are now coming closer to bitcoin and soon bitcoin will get mass adoption.

In fact, what happened in the past and some speculations about it was true, many people do really rejected bitcoin because it was used to scam people around. That has happened because many people way back before don't really know what bitcoin is, and how it is used. Mainly, people who knew bitcoin before spread false news and information and they focused to use bitcoin to earn easy money by scamming people.

But as time passes by, more and more articles have been published and more and more videos of bitcoin being used to daily lives came out, which makes people knowledgeable about bitcoin so that they will not believe a person who says about investment with exact date or sometimes they are inviting people to invest to double their money.

[Benefactor]

I guess they can't really beat Bitcoin.
Just saw on Reddit where
An old article states dated September 13,2017

"bitcoin is a fraud that will blow up, says JP Morgan Boss"

And now May 12,2020
"JP Morgan Extends Banking services to bitcoin exchanges"

I guess if you can't beat 'em join 'em.

So  i guess as my opinion on bitcoin future will be stable and no coin will take over it.

So whats your insight about this news? What will happen in bitcoin ?

I have been hearing about Bitcoin joining the bank for a long time, but it has not happened so far. Joining Bitcoin Bank requires government approval.  If it goes under a government, its legitimacy will be fully revealed. I wonder if it happens all bitcoin users will benefit. I hope this happens as soon as possible and Bitcoin can go under a government.

[Sadlife]

They must have realised Bitcoin's true value regarding having a fix supply and it is against quantitative easing but it's feature is quantitative hardening.
Due to pandemic, fear arises in stock market after the recent crash of oil. That's why they're amazed how Bitcoin still has value and probably found out why.

[gamer4156]

I don't think there is a need to do it. People's confidence in the bank is declining day by day.In the last few years, several banks in Asia have been scammed. The common people did not get their money back. If my bitcoin is not safe after being added to Bank, then what is the benefit of being added to the bank

[GDragon]

In past years many people rejected Bitcoin, some called it fraud, some said it's been used for illegal activities so therefore there can't work with, but as time goes on bitcoin started developing and becoming more successful, people started seeing the benefits of working with bitcoin, many who rejected Bitcoin started buying and owning good amounts of bitcoin, even banks are now coming closer to bitcoin and soon bitcoin will get mass adoption.

In fact, what happened in the past and some speculations about it was true, many people do really rejected bitcoin because it was used to scam people around. That has happened because many people way back before don't really know what bitcoin is, and how it is used. Mainly, people who knew bitcoin before spread false news and information and they focused to use bitcoin to earn easy money by scamming people.

But as time passes by, more and more articles have been published and more and more videos of bitcoin being used to daily lives came out, which makes people knowledgeable about bitcoin so that they will not believe a person who says about investment with exact date or sometimes they are inviting people to invest to double their money.

It may be true, I just hope more people will spend time reading those article. However, its kind of hard to change that image of btc right now especially when scams are still all around the facebook comment section, I just realized it this month when all of the sponsored post in my timeline are full of those troll account spamming the same messages about btc. Anyone will realize it ain't true so if they know nothing about btc, they will it as a scam already. Kind of sucks, I just hope they researched first about it.

[erikoy]

Bitcoin could not be integrated to centralized currency system so it should be treated differently. In this case if banks will join bitcoin then the coin will be coming from the the people and not for them. However, they can process from fiat to coin exchange to where this is another form of earning from them from the process they will going to make.

Sounds like another job for the bank clerk and it will surely involve high value of exchanges. Another money making activity very simple, fast and easy.

[Negotiation]

No bank will ever accept any currency without commission From now on they take an interest at a reasonable rate Fiat takes commissions from now on due to currency centralization but in the case of Bitcoin it is never possible. If the banks can't provide Bitcoin security then no one will deposit and the demand of the banks will decrease Without adequate facilities the exchange will become much more difficult.

[fullhdpixel]

I used to wonder what will happen to banks, a lot of people have said that they will disappear because of Bitcoin, but I don’t really think so. I think whatever happens, these banks will still be here, rather they will upgrade to a level that is more advanced and be able to extra features and services to their customers in a way that they can fit in with the new changes.

In some ways we are always going to be in need of banks. I know some of us can stay without banks, but majority of us cannot do that, so there will always be a need for them in some ways. In near future, I am sure decentralized bitcoin banks will serve people with possible collateral and all other required things. A bitcoin wallet itself a banking client but it is missing with lending functionality alone .

[joinfree]

your title doesn't make any sense. bitcoin didn't join anything, it is as it has always been. it is the banks that are now slowly changing their stance because they have realized their FUD didn't go anywhere or do anything.

So  i guess as my opinion on bitcoin future will be stable and no coin will take over it.

so you needed a bank to start offering its service to another centralized service (ie. exchange) to make this conclusion?!!!

I thought as much, sometimes the title that members of this forum give goes in one way and the content of the post is also in a different direction. This makes it very difficult to follow up and build decent conversations in here.

[dentolas]

I think JP Morgan made some FUD efforts to get loaded with BTC in order to become a market maker and get a piece of the action... It is something like "if you can't beat them, join them", but also "there's money there, how can we get it?"...
These guys are always smelling the same thing... money