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[Medowriter]

I discovered lots of people are willing to invest in bitcoin but due to it anonymous nature there are lots of scam sites that run away with people's money. If bank eventually go into bitcoin trading don't you think it will be reliable and safe?

 

[Crystal]

banks will never trust bitcoin because of its volatility and mostly because the price increase is artificially made by traders/speculators and not established by an official entity such as the government or economy.
Maybe a crypto bank will do, but so far on internet a crypto bank (ICO) named Polybius from hashflare is not trusted , no different real address than hashflare, no building, nothing, just a website, which ca go offline one day with an error 404 /dns not found for good..
Few months ago ive talked with a programmer friend from my city who's working for a bank (or something like that) and asked him what does he know about bitcoin ? And he told me only bad things about bitcoin such as it is used only for illegal stuff.
So ,it is also a matter of education and the specific country culture of course.
Might have a chance for bitcoin but i think only after at least 200 years from now on, IF the price won't reach $100000 or so.

 

[HJVC Notes]

If bank eventually go into bitcoin trading don't you think it will be reliable and safe?

Yes but as of now, banks don't offer it yet bitcoin investment products. Although you can invest already in bitcoin hedge funds companies managed by bankers, it will require huge some of capital. For example, CoinBase is the world's largest bitcoin wallet provider that insured their users funds and also offers like bitcoin hedge fund investment but you must have atleast 10 million USD minimum deposit.

 

[overcast]

Yes banks seems to be good. But the bitcoin offers you the chance to get the money in short time. something that banks cant offer. so yeah on that basis I'd say it's worth going for the bitcoin for short term. then save the money in bank. i mean that is much better strategy as well.

 

[tusziget]

Investing in Bitcoin it is a great idea.Let's see how the price of the Bitcoin will fluctuate the next week.Somebody must be very smart to know,when to buy Bitcoins,how to do it after that,to store them in his wallet,or to sell it when his price is higher.I think there are experienced people needed.

 

[Shawqee]

I discovered lots of people are willing to invest in bitcoin but due to it anonymous nature there are lots of scam sites that run away with people's money. If bank eventually go into bitcoin trading don't you think it will be reliable and safe?

There is a high chance banks will begin tradings using Bitcoins in the near future. Because, recently Japan accepted Bitcoins as an official transaction method.
So, if governments starts to recognize Bitcoins Bank doesn't have any other choice. They should accept it too.

 

[tusziget]

Actually I am surprised,that the banks are not already in the Bitcoins business.Usually the banks are in the first row when it comes about finances,investments and other earning opportunities.I think,in the future they will be very much into the Bitcoin business.

 

[Medowriter]

Actually I am surprised,that the banks are not already in the Bitcoins business.Usually the banks are in the first row when it comes about finances,investments and other earning opportunities.I think,in the future they will be very much into the Bitcoin business.

you are right from your observations but I guess what ******* presumed is what is still keeping banks on hold

 

[Abdul hanan]

Bitcoin is going up day by day and even more popular. Now even some shops are accepting bitcoins.
SO there is a chance that banks may go into bitcoins too.

 

[overcast]

Bitcoin is going up day by day and even more popular. Now even some shops are accepting bitcoins.
SO there is a chance that banks may go into bitcoins too.

Howwver bitcoin is not safe. it does not have privacy. so that is what makes it a bit harder to rely on. I'd say dash, and few other coins can be used instead. I personally prefer those coins which are more safe on the privacy side. that is something that one can use in that as well.

 

[HJVC Notes]

Howwver bitcoin is not safe. it does not have privacy.

Bitcoin is safe and have privacy. It's some of the bitcoin wallet companies that is not safe enough and protect their customers information securely.

 

[leann0726]

I discovered lots of people are willing to invest in bitcoin but due to it anonymous nature there are lots of scam sites that run away with people's money. If bank eventually go into bitcoin trading don't you think it will be reliable and safe?

if banks will handle bitcoins and other crypto currency it will make a lot of changes. first the legality of bitcoin and before that happen world bank will impose laws about it. then it will soon have physical body as money that can be use not just in online. the value will change and also the way to gain it will change as well.

 

[Crystal]

if banks will handle bitcoins and other crypto currency it will make a lot of changes. first the legality of bitcoin and before that happen world bank will impose laws about it. then it will soon have physical body as money that can be use not just in online.

You mean at a printed bitcoin (coin or paper) ? That not happen. It is impossible, it wont work.
First if the banks will take over the bitcoin , his price will drop for good to 2000$ or to whatever is the real price because it's a cryptocurrency and by definition, a crypto currency is meant to be free/not controlled by an entity ( decentralized) and i bet most of the bitcoin owners are not happy with this idea , the bitcoin is a deflationary store of value much better than precious metals.The bitcoin owners will sell it and move to a really free/democratic cryptocurrency .
It is very much likely that people won't declare all the bitcoin paper money if those are made illegal. Also once the bank knows how much bitcoin paper money you own, it is very likely that a tax might apply so again people wont be happy with this idea.
Second ,there is a cap limit for bitcoin, 21 millions units . This mean it can't be printed over and over like the fiat money . And the banks never know in real how many papers or coins of bitcoins are lost or destroyed to print again ,but to keep the 21 millions cap in circulation. Unless banks will call all the bitcoin owners to the bank with their bitcoin paper money to prove how many they own so the banks can make a real statistic about how much needs to be printed again.

I guess you know, from time to time, central banks are needed to print money because the money can be lost, destroyed, used, etc. How can money get destroyed or lost ? Well imagine a millionaire house is burning and that millionaire has bitcoin paper money which are burning too. Or imagine a car accident and someone has an important amount of bitcoin money with him in a suitcase but the car jumps into a river and no one will know about this. So every year fiat money are lost ,destroyed, etc. and the banks have to print periodically paper money but with bitcoin is impossible to know how much needs to be printed again due to its nature, cap limit to 21 millions units.
Banks will prefer to create their own cryptocurrency (deflationary instrument) so they can control it 100%, without making it a paper print too, they will know anytime how much is their reserve in cryptocurrency.
Gold is deflationary but not to much. Internal cryptocurrency which im pretty sure its nothing special and it is most like dollar deposits .
The profit will come from investing it (buying stocks market for example) or from its increasing price vs dollar due to the trust/size/expansion of the bank, etc. Banks will always want your dollars so they will attract you with their cryptocurrency to buy it but basically it is nothing special, just an investment instrument or another way of depositing dollars .If that crypto currency gets printed on papers, banks will lose digital exact statistics and they will have to print every year new banknotes to keep a good amount in circulation.

 

[Medowriter]

@******* thanks for eye opening write up , i have learn a lot here . But if banks eventually create their cryptocurrency, there may be conversion option that will make it interrelated to bitcoin in a way

 

[leann0726]

if banks will come to the picture surely as I stated on my top comment that there will be a lot of changes. everything will change so as the value of bitcoin. I do agree that bitcoin investors won't like it if thus will happen. they will surely lost half or even 90% of what they have invested.

 

[xXInfectedXx]

Banks will never trust bitcoin trading because of how dangerious it is and of how many scams there. Many banks in england have already banned the use of trading crypto currencies on credit cards since it's the banks money and BTC is gambling and they are gambling the banks money, and they land themselves in debt.

 

[Lovely]

Well,despite what we think could be the disadvantages but the fact still remains that it will be a better option for the banks to come in fully and transact business with individuals using Bitcoin,it will be like universal money which one can use to transact business easily and on real time without location or language barrier.

 

[tusziget]

I think it would be less fees as well,buying and selling Bitcoins,if all the banks would accept Bitcoins as payment methods.This way there would be more transactions and higher profit for the Bitcoin owner.

 

[Naveedsgd]

Bitcoin's sound monetary policy is one of its most important features. It's possible to see when new bitcoins are created or how many bitcoins are in circulation.
Bitcoins can be sent from anywhere in the world to anywhere else in the world. No bank can block payments or close your account. Bitcoin is censorship resistant money.

 

[Concernednoneif]

It is not the banks that can decide such a thing because these scammers will always be there in any type of environment you have