8
votes
Why are banks and other centralized entities interested in block chains?
Speaking as someone who has worked on a blockchain project for a bank, I can tell you that banks are interested for several reasons.
Banks know they are ripe for disruption
Due to a combination of ...
- 8,724
7
votes
Is it fraud? Would banks ask for fees through bitcoin?
This is definitely a scam.
Even if an activation fee was a legitimate thing, they would just charge that amount out of the amount you were going to receive - if you were to receive $1000 and the fee ...
- 16.4k
5
votes
How can I sell bitcoins and transfer the funds to my bank account?
The usual procedure would be to deposit the bitcoins into a bitcoin exchange, sell them there, and withdraw the cash to your bank account. You will have to identify yourself to the exchange, and the ...
- 51
5
votes
Accepted
Justification of usage of Blockchain by banks
Blockchains are best used when there are multiple entities that don't necessarily trust each other. So within one bank, a blockchain really isn't useful. However between bank transfers could use the ...
- 60.4k
4
votes
How can I sell bitcoins and transfer the funds to my bank account?
If there are Bitcoin ATMs in your country it should be as simple as goint to the ATM ask for a refound and transfer the Bitcoins to where the ATM asks for. After that it should give you the money (...
- 494
4
votes
What prevents banks from printing electronic money?
Banks do lend out more money than they have. This concept is referred to as Fractional Reserve Banking. Government regulation is supposed to impose a minimum of reserves they need to keep, limiting ...
- 62.3k
3
votes
Accepted
Is it safe to authorize Coinbase to withdraw cash directly from my bank account?
They don't need your password to process the ACH in the future. this sounds like they used your banking credentials to verify that it really is your account. You should be able to change your ...
- 250
3
votes
why banks are trying consensus algorithms like ripple
Double spending doesn't just include cases where a participant tries to spend his own funds twice, but it also includes cases where two honest participants each want the same liquidity.
For example, ...
- 50.7k
3
votes
Send Bitcoin payments to any bank via API
The closest solution to this is setting up your supplier with a payments processor like Coinbase or Bitpay, who will convert your BTC to fiat instantly. However, there's no way to send BTC to a bank ...
- 162
3
votes
Can I buy stocks with Bitcoin?
I've looked into 1broker and while there is quite a bit of good feedback about the site and the GUI is very clean the 4 guys who run it are students. I ran a hedge fund for many years and know a fair ...
3
votes
How can I sell bitcoins and transfer the funds to my bank account?
There are a couple of ways to sell bitcoins for fiat currency (like USD, Euro,etc)
Directly trade with someone who wants to buy bitcoins using currency.
Find an online exchange that would buy your ...
- 264
3
votes
How can I sell bitcoins and transfer the funds to my bank account?
Bitcoins can not be withdrawn into a bank account directly. You can either sell them to somebody who then transfers money to your bank account, or you can sell them at an exchange and withdraw the ...
3
votes
Justification of usage of Blockchain by banks
Provenance is very important with OTC transactions. Many banks are comprised of thousands of tiny holding companies. How do you verify ownership? A decentralized Blockchain. Using a Blockchain, you ...
- 131
2
votes
How can I sell bitcoins and transfer the funds to my bank account?
I've always been a fan of LocalBitcoins.
In Australia buying and selling Bitcoins is just a matter of using their site to find a reputable vendor. Often I'd be dealing with the same vendors on a ...
- 5,148
2
votes
When transferring money between a bank and bitcoin exchanges, might the bank suspend my account?
There have been numerous reports of exactly this happening on bitcointalk. This thread lists several people talking about this problem: https://bitcointalk.org/index.php?topic=255174.0;topicseen. ...
- 633
2
votes
I am looking for a reliable and low cost way to make loan repayments from Asia to the US. Are there any banks in the US that will acept Bitcoins?
"Translating" a Bitcoin to a US dollar is selling it. There are plenty of services that will sell your Bitcoins, including Coinbase, Kraken, and Bitstamp. You just need to find one that will do what ...
- 50.7k
2
votes
How is bitcoin sent into my bank account?
Traditional banks don't hold bitcoin in their accounts, so you can't send bitcoin to your account. What you can do is sell your bitcoin for fiat currency and have that fiat deposited into your bank ...
- 8,724
2
votes
Do all Banks and Credit Unions in the U.S. accept Bitcoin?
Certainly all banks and credit unions do not accept bitcoin, and I'm not aware of any that do.
Banks and credit unions can be thought of as nodes in their own network that is not actually so ...
- 8,724
2
votes
Accepted
How do traditional transactions take place (paypal, banks, etc) in comparison to Bitcoin transactions?
A traditional payment with PayPal or a bank works like this:
You find the identifier of the intended recipient.
You request a payment being made in your name to the intended recipient.
The central ...
- 62.3k
2
votes
Accepted
Blockchain vs. Banks: which one has more affordable transaction fees?
Bitcoin's blockchain transaction fees are market-based, so they fluctuate based on what fees miners are willing to mine:
Currently, they are around $0.75.
First of all, one major difference is that ...
- 7,030
2
votes
Is it fraud? Would banks ask for fees through bitcoin?
Yes definitely a scam. Don't proceed further.
- 31
2
votes
Accepted
Can an attacker flood the Bitcoin network with fake transactions?
It seems like one of the basic assumptions you are making is that all transactions ("fake" or not) are added to the blockchain. But that is not the case. Only valid transactions can be ...
- 60.4k
1
vote
Blockchain implementation in banks
Think of a blockchain-based implementation of the financial backbone as the modern-day equivalent of Automated Clearing House (ACH), the national standard for processing checks.
Based on banking ...
- 56
1
vote
Can I force my company to pay me in Bitcoin
No. You can ask nicely, but unless your company operates in a country that has declared Bitcoin legal tender you have no legal grounds to enforce it.
- 62.3k
1
vote
Accepted
Can I force my company to pay me in Bitcoin
Probably not - I mean you're not in an absolute position to demand them to compensate you via bitcoin. Can you possibly get an E-checking account with someone like INGDirect then have your BTC ...
- 475
1
vote
I am looking for a reliable and low cost way to make loan repayments from Asia to the US. Are there any banks in the US that will acept Bitcoins?
There are a number of services that allow you to pay bills via Bitcoin, such as for example BillPayForCoins*, which sounds like a possible solution to your problem: They claim to allow you to "Pay any ...
- 62.3k
1
vote
Can I buy stocks with Bitcoin?
Yes, you can fund a brokerage account with Bitcoin, at least at DriveWealth.
Disclaimer: I have not tried it.
How do I deposit funds?
Last Updated: Aug 11, 2015 05:44PM EDT
DriveWealth has ...
- 111
1
vote
Can I buy stocks with Bitcoin?
No services for mainstream companies, but there are a couple of sites I've seen for stocks and IPO's however these are mostly in Crypto related companies.
https://cryptostocks.com/
https://www....
- 861
Only top scored, non community-wiki answers of a minimum length are eligible