Topic: Banking with your bitcoin (Read 1400 times)

i think they are not ready to accept bitcoin in their banks because their system is not syncronize first with blockchain. but i think in the future, if bitcoin is accepting in many country and the banks especially, we can send our bitcoin into banks and it will convert directly to our banks account like what we see in philippines.

Me also is from philippines our local online wallet which is coins.ph has great and lots of services, we can deposit and withdraw our fund in bitcoin using commercial banks the great thing is they are under amla they not prohibited all the illegal money transaction using their services that is why lots of people in our country are saving their money into bitcoin because we are know that our money are safe in that wallet.

Soon, it will happen. Especially if it will continue to be popular and more people will start investing in it. This is an opportunity for banks as well.

Nope, in my opinion banks is definition create a place to calling for investment and receive profit from save in banks. As per my knowledge, in history when we was still lived in bourgeois regime, this field very grow and attractive many investors.

It really depends on your choice and the wallet that you are currently using. From what I know, every wallet have their own options regarding the conversion of your fiat to bitcoin. But I believe that banks may opt NOT to accept bitcoin directly as fiat due to its volatility in its price which may result as a loss on their part. Primarily, banks were created for the purpose of yielding income through the course of time. By putting bitcoin in the picture, this defeats the purpose of investment due to conflicting nature between fiat and digital currencies.

In our local wallet here in the Philippines we could transfer our bitcoin to the banks,
But it would automatically be converted into our currency,

They won't accept it directly but they might start buying some in private to build up reserves for when it does become powerful enough in price.

Major banks are building there own 'bitcoin' to transfer money without being hackable. They seem to like the blockchain.

I think the reason why online wallets are made because it is design to replace banks in the future and if your concern is acceptability of banks with bitcoin that I think would not be possible because bitcoin value is not stable and it cannot have a fix value in the future

if in my opinion the bank definitely forbids storage of bitcoin, because why? because I know the bank at
Indonesia House receives something that they think can be accounted for
answer like the original currency and gold or the rest. but for bitcoin i think
 the bank will mock because that was the reason.

Until now in my country bitcoin has not allowed to be a legitimate currency for transsaksi, so I think nowadays banking in my country certainly will not accept bitcoin directly, especially with their fear of internet security

For now I doubt if banks will accept bitcoin as a direct deposit, one reason is that they will forbid it for internet security reasons, and most importantly they will refuse bitcoin because bitcoin is not yet valid to be a currency that can be used as a transaction tool legitimate

yeah its already third party. because the company put already our cirrency to our bank not totally the bitclin ita already exchange with our money before they put it in our bank when we cash out through our bank accounts.

No, it's impossible they the bank only interested in the technology behind Bitcoin, the blockchain. The reason why do banks hates Bitcoin is because of Bitcoin's nature decentralized, What's the exact reason they should adopt Bitcoin? nothing. Instead of adopting it they might adopt blockchain in order to transform their traditional system into a modern one. Basically, it against the purpose of the Bitcoin since if you're holding your Bitcoin you have your own bank and you don't have to trust someone to hold your money, you have ultimate control over your money.

As you put this question, why would you want to keep bitcoin in a bank?
Its purpose was to do exactly the opposite, to be your own bank.

There are some tokens that say will help to make faster transactions and all other stuff, but regarding banks holding your money it is giving them back their power. They can block them, make them lost or whatever they want again and again. Like the "big" exchanges do now.

Yes, you are referring to banks for that, knowing that they are safer than these exchanges. And here comes the old story. You give them control for your assets because they have government trust and insurance in a limited amount. But again, then you are not holding your money anymore.

I see some problems for holding bitcoins or some of good altcoins in wallets because many people don't know how to use a computer, not saying to make a wallet. Tell them to make cold storage wallet and see their reactions  .

Yes, here it should be a way with some certified "banks" or exchanges to have them for that kind of people or just for old people... here it will be an issue when it will go to a mass scale.

So, the big problem here is regulatory rules that will come in the near future to say that they accept it or not as legal in that country. Then, normally it should lead to have a safer way to exchange them with some trust for the big exchanges or places where it will be for buy/sell for fiat.

And also, to who said about banks, they can't disappear, at least not over night. The current system can't be changed overnight, the same as electric cars can't be made overnight as main cars because the infrastructure. Elon Musk did a lot to open the road for free electricity in "gas" stations and from what i see things are changing in a good way. Lot of countries announced that electric cars will be in big percentage in a few years. But we know them exist for last 15-20 years.

Let's hope here the trend will be quicker 5-10 years with all of the new technology that is coming.

Till then, hodl them good in offline wallet.

With the government running a specific bank right now i think that would be imposible.Its a decentralized currency and banking makes it centralized plus most users of bitcoins would not totally agree in this kind of system

I don't foresee banks accepting bitcoins directly. It is against everything that they hold dear. There will always be a third party between banks and cryptocurrencies, especially bitcoin

The fact that banks accept bitcoin is the same as they realize it helps them avoid inflation on their local cash flow. And there are some countries where they still do not really recognize bitcoin as a future currency because it can make people in their country no longer believe in cash there.

I think the bank will never accept Bitcoin because it loses their interests and the reason is that they can not control Bitcoin because it is fully confidential and does not disclose information of the account holder

Future means next generation or next to next generation. First thing is banks will oppose this Bitcoin, and they will never support to this Bitcoin. If it becomes legal, then they will lose their business, and it's a big loss for banks. So takes some years to become legal and to convince banks again it will take a number of years totally how many years it will take no idea.