Can cryptocurrency be streamlined until it's as easy for normies to use as email or online banking?

Banks are working on cryptocurrencies right now. What's that telling you?

Once the bitcoin bear market takes hold, Ethereum is going to go into full prosperity mode.

>Banks are working on cryptocurrencies right now. What's that telling you?
KEK

only in internal transactions and on systems which were tailored only for them. not over Bitcoin or ETH, don't get your hopes high fagos.

I didn't say anything about BTC or ETH, did I? The point stands, crypto's come to stay.

It's a good challenge for them.

Santander expressed interest on building on the ETH blockchain

The more you know

Building your internal transaction system on the ETH blockchain will not make ETH rise in value. I fail to understand the interest of a common cryptocuck in that implementation.

i just imagined the news: "bank siphoned of it's funds by hackers hard fork didn't work out as expected as not all shareholders went with it, now the banks network is split..."

It's not a matter of streamlining it. It's just that no one wants BTC. You can't do anything useful with it and its value is extremely volatile, which means no one wants to hold it.

>B-b-but website X is now accepting BTC!!!
Yes, for PR reasons, some legitimate websites have started accepting BTC as payment. However, ALL of these sites immediately convert BTC payments into their native fiat currency. For anyone to convert currency to BTC just to buy something from a website that will convert it right back is wasteful and stupid.

>But muh unhackable anonymous economies!!!
No one wants an anonymous economy and if the endless crypto scandals have proven anything it's that the blockchain is actually a vulnerability rather than a security feature. You can't hack Bank of America's systems and steal all their money. It doesn't work that way. But you can absolutely hack a BTC wallet site and steal all BTC and then instantly launder the money through the blockchain. Money Laundering is a crime in most countries for a reason. When your entire "currency" is built on the concept that money laundering isn't just accepted but an essential part of doing basic transactions you set yourself up to fail.

Cue the bagholder coping.

>You can't hack Bank of America's systems and steal all their money.
interestingly some big russian bank got hacked real bad. i agree most hacks are inside jobs made look like not, but it still happens. the difference is the states usually jump in and save the banks from taxpayer money.

it could but, you really have to centralize it to a degree for that to happen.

for example bitcoin side-channels would work much better with banks as middlemen like in a cc transaction. you have a channel to your bank the vendor has a channel to her bank and the banks have channel (or a hundred), so you can instantaneously pay with your btc card and the shop can be sure it will really get those bitcoins.

they try to solve this decentralized, i don't see that happening. but who knows.

People have not yet realized they have the option to escape from banks and governments. As they gradually wake up to that fact, the value of bitcoin will rise to levels which are unthinkable today. The service bitcoin provides is priceless. It fulfills a fundamental need for mankind, that of being free from racketeering by the rich and powerful elite (which controls governments). So I think one should not worry about not having invested earlier.

LN IS decentralized.

>But you can absolutely hack a BTC wallet site and steal all BTC and then instantly launder the money through the blockchain
Which is why no one but idiots hold bitcoin in websites. You can't complain about bitcoin being weak when you aren't holding your bitcoin yourself (The point of bitcoin)

>People have not yet realized they have the option to escape from banks and governments.

oh you see that is easy, go and buy some gold coins. there you escaped the government. it wasn't that hard, wasn't it.

kek. Tell that to the indians.

>LN IS decentralized.
it's not decentralized it doesn't fucking exist and even if release we have no idea anyone will be interested at all or it would work as planned. meanwhile centralized solutions that are still trust-less (as they are based on the same principles really) would definitely work reliably and scale just as well as cards.

This.

Blockchain will be a godsend for banks, asset managers and other active traders as properly implemented blockchain will make a lot of back-office jobs in operations obsolete and will save millions of dollars.

>Blockchain will be a godsend for banks
hmmm i don't see what it could add for them really. they are not interested in the blockchain internally. but more as a technology they could use to settle balances between each other.
those transactions have to be logged the same as before. the exact method of communication would change between banks maybe it gets simpler too but they would still want people to monitor it and stuff.

I've spent some time in operations and blockchain will reduce amount of people needed there massively.
Trade matching? Probably will reduce headcount a lot.
Securities lending? Same thing, a lot of people will not be needed.
Simple operations - currently outsourced in India - like puting transactions in the systems? Probably thousands of Pajeets will lose work.

Please fuck off. It's not that complicated to develop a nice looking wallet, especially for a 15 billion market cap currency.

well banks need a break, their profitability turns to shit. they need to cut back on offices and personnel. maybe they do this. who knows.

i expect them to close a lot of offices first and go massively online with the client administration and contracts. it will not be enough of course.

>You can't do anything useful with it and its value is extremely volatile, which means no one wants to hold it
It's not even ten years old, and already there are strong signs of stabilization. The value has been steadily going up for over a year now, for starters.

> You can't hack Bank of America's systems and steal all their money. It doesn't work that way. But you can absolutely hack a BTC wallet site and steal all BTC and then instantly launder the money through the blockchain.
This is stupid.

Banks still get robbed and their shit stolen, probably most of all by its own leadership.

And of course you can get your bitcoin stolen from "wallet sites", which is why nobody who knows anything keeps their coin on those things.
You technically don't even own your coin on those sites.

People keep digging up gold all the time. For that reason, I am out.

>The value has been steadily going up for over a year now, for starters.

yes you fucking idiot but why, is it tied to a credit of the states economy? No, it is going up because of the same fucking retarded reason tulips value in the netherlands was going up.

BECAUSE OF RETARDS BUYING INTO THE HYPE

Or, you know, because it does all the things it was created to do in the first place?

> is it tied to a credit of the states economy
Yes, because the state knows best, right?

throughout history gold production increase was roughly in relative ratio to human population increase. that's kinda perfect.

bitcoin is of course kind of shit just as fiat currency on the other side of the horse.