Bitcoin & the Banks

[Sponsoredby15]

If you ask what would I choose bitcoin or bank for me it should be bitcoin because bitcoin grows value time by time so if your money is small you can get your money big if the value if bitcoin increase. Also it is easy to create bitcoin wallet than creating bank accounts too many requirements needed. You can check also to your phone.  So it is safe.

[Drago2016]

here in Australia, some of the big banks are actually working on ways that they can use the basis of BTC to develop their own private blockchain system. There's an interesting article about it at http://www.afr.com/technology/anz-backs-private-blockchain-but-wont-go-public-20160629-gpuf9z

For me though, I feel that running the blockchain through a major bank takes away a lot of the privacy associated with crypto currency though, so I'll stick to BTC myself!

Perhaps Australia is one of the first countries that come up with the times. Cryptocurrency they recognize, if not recognized and allowed to complete the course. But the banks can only connect to this action, although it seems to me that this was their initiative.

[ethereumhunter]

i think bitcoin will not compete with the bank, but it will help bank to integrate with crypto currency and will be bridge between bank, internet, and people and could reach more people to make transaction using bitcoin.

but maybe this plan will be apply after the bank read about bitcoin technology and make some research about how to integrate it with bitcoin. i think it will need some time before this could be apply.

[danherbias07]

i think bitcoin will not compete with the bank, but it will help bank to integrate with crypto currency and will be bridge between bank, internet, and people and could reach more people to make transaction using bitcoin.

but maybe this plan will be apply after the bank read about bitcoin technology and make some research about how to integrate it with bitcoin. i think it will need some time before this could be apply.

The combination of this two will really give a big impact to many people. Imagine a high percentage of bank trustees also enjoying bitcoin. That could be a big blast.

[Universat]

If you ask what would I choose bitcoin or bank for me it should be bitcoin because bitcoin grows value time by time so if your money is small you can get your money big if the value if bitcoin increase. Also it is easy to create bitcoin wallet than creating bank accounts too many requirements needed. You can check also to your phone.  So it is safe.

but i think we cannot depend on bitcoin only. in present time as we most depend on banks the salary we receive through banks we pay utility bills using banks we do admission in colleges and universities using banks so the importance of banks cannot be ignore therefore i think we need both bitcoin, and banks for fiat currency.

[severaldetails]

At the moment I see no option how to avoid banks.
Most public services do not accept bitcoins (in my country every public service).
And I don't think bitcoin was developed to replace the banking system.
Bitcoin is an online payment method for shops and private people, and a source of income for miners.

[Noctis Connor]

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well atm bitcoin machine are not yet available here in my country we always togo store to buy bitcoin currency and its all free no fee it easy to buy bitcoin in store than human because sometimes you will be scammed or something and its too risky to buy bitcoin from human

[iqlimasyadiqa]

At the moment I see no option how to avoid banks.
Most public services do not accept bitcoins (in my country every public service).
And I don't think bitcoin was developed to replace the banking system.
Bitcoin is an online payment method for shops and private people, and a source of income for miners.

bitcoin is growing. today bitcoin has been gaining acceptance in large enterprise companies. while for me to enter the world of banks, bitcoin should be a matter of time. perhaps the decade ahead bitcoin has become a financial power.

[Rizky Aditya]

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

[talkbitcoin]

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

that is right because many people still fear bitcoin may be scam or some meaningless numbers on their screens and something like this can help it a lot.

but the problem with this, is that banks and bitcoin doesn't work well together. when you use bitcoin you don't need any bank you only need a wallet and you can be your own bank.

[beerlover]

You'll just be able to go to the bitcoin ATM on the corner, put in cash, and get bitcoins. Or, meet your local dealer f2f and pay cash.

Well you can already do both those things. Bitcoin ATM's are located all over the world and if you want f2f dealing, just go onto localbitcoins and find a seller near you.

Yeah that is true, but there is not that many in the country I live in as Bitcoin is not very popular here. I think that if the banks support Bitcoin, more people would also support it.

that is right because many people still fear bitcoin may be scam or some meaningless numbers on their screens and something like this can help it a lot.

but the problem with this, is that banks and bitcoin doesn't work well together. when you use bitcoin you don't need any bank you only need a wallet and you can be your own bank.

Jeez do you guys even know how much fees there is with the bitcoin atms right now?
It takes a good slash on your bitcoins wallet everytime you withdraw bitcoins from those ATMs. So right now, it's not really recommended and one of the reason that it's not yet very popular.

[sandaq]

I remember back in 1997 they used to say that about the Internet and treditional media. Not only did the Internet survived, every media station or news papar utilize the Internet for it's need. I belive this will be the case with bitcoin also.

Bitcoin - The Internet of money.

[Sniper44]

I remember back in 1997 they used to say that about the Internet and treditional media. Not only did the Internet survived, every media station or news papar utilize the Internet for it's need. I belive this will be the case with bitcoin also.

Bitcoin - The Internet of money.

good point.
this is also why i have been saying banks will finally come to realize that they can not fight the advancement of technology and bitcoin. so they will eventually adopt it themselves.