That's cool as long as it's blockchain backed. If it's backed by bitcoin's blockchain there is no problem of it being created out of thing air, unlike the current current system where the money is faked and created out of thing air at will. It's ultimately stupid since the idea of bitcoin is that it's digital but of course the more options the better. Maybe people don't want to carry their phones all the time.
It is very likely or maybe the whole point of this to not have enough bitcoins in order to backup this paper bitcoin, they want to create bitcoin out of thin air, because that is one way the banks earn money and the bitcoin protocol does not allow them to do that. 
Topic: Banks gonna do what banks gonna do.... (Read 845 times)
I think it is stupid. Why would someone want to own Bitcoin indirectly via a third party, if they have the option to own it directly? This
introduce a trust relationship into Bitcoin, that we do not need. When you own Bitcoin, you should not have to rely on a piece of paper,
issued by some centralized service or entity... You buy it, and you own it 100% or you do not own it at all... if you have to rely on
someone else. Exchanges, where you do not have the Private key for your bitcoins... is the same thing.
introduce a trust relationship into Bitcoin, that we do not need. When you own Bitcoin, you should not have to rely on a piece of paper,
issued by some centralized service or entity... You buy it, and you own it 100% or you do not own it at all... if you have to rely on
someone else. Exchanges, where you do not have the Private key for your bitcoins... is the same thing.
I wish they would do this in my country. 
I think that banks are gonna start their own coins as a example the banks in Holland are already trying this so that is saying something about the future of the bitcoin itself.
The blanket certificate will be very valuable for those investing in Germany and Austria. I'm sure that many would find it as a viable investment to add along with their portfolio of other investments. Only thing is, as mentioned this seems to have a low impact on the price of Bitcoin, thus we may expect almost negligible price increase or decrease if any, so I don't see much in it for the price, but it's good to see an extended support for Bitcoins on paper/certificates for the two European countries.
I just took a small look at this investment.
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
Trust, security, influence, ignorance. Well probably one of those. Remember not all people that buying bitcoin are actually researching bitcoin and place where he can buy bitcoin cheaper. Most of the people are often bought stuff that captures their interest the moment a certain stuff is introduced to them.
I just took a small look at this investment.
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
Trust, security, influence, ignorance. Well probably one of those. Remember not all people that buying bitcoin are actually researching bitcoin and place where he can buy bitcoin cheaper. Most of the people often bought stuff that captures their interest the moment a certain stuff is introduced to them.
I just took a small look at this investment.
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
It looks like one of these stocks is traded for about 10$ more than the actual bitcoin price.
Why would anybody pay more for a bitcoin in form of a stock than for a real one?
A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!
Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
Do they charge a fee for that service?
I bet they charge a fee.
"Real bitcoins oppossed to real gold"?Gold is real,bitcoins are just programming code.
Why would anyone would buy such certificates when actually hold Bitcoins is so easy and you have no need of big faults and security teams and space?
I think they will or have to buy certificates rather than buying bitcoin themselves because of regulation and limitation of their country. And also many businessman and investors may find it difficult to understand bitcoin tech and they will just look at the profitability claimed by those banks. Banks will take bigger part of the profit from those investors if bitcoin price goes high and investors will be also happy to see their investment growing without doing anything. They will never know actually those banks are earning more than them. this is no surprise, when there is a market and a lot of profit opportunities there is also always banks right there to take advantage of the situation. and as i said in the other topic about "banks accepting bitcoin" banks will soon start to offer much more services regarding bitcoin from wallets to profit and investment options and credit cards.
Yes, i agree with you!i think sooner or later, bank will also enter the virtual world of cryptocurrency!why not, crytocurrency is also money, although it was stored in digital wallet. The market of bitcoins are getting wider and wider that's why no wonder if bank will enter. We dont know yet the advantage and disadvantages of having bitcoin bank, but for now, lets be positive with this development in digital currency.
this is no surprise, when there is a market and a lot of profit opportunities there is also always banks right there to take advantage of the situation. and as i said in the other topic about "banks accepting bitcoin" banks will soon start to offer much more services regarding bitcoin from wallets to profit and investment options and credit cards.
Banks are "playing" with bitcoin for a long time. First it was more secretly but now is more and more open. They see their interest there because majority of them stil see bitcoin as a threat to them. So they want to influence it and control it somehow. And see what is the best way to make some use for themselves and make some money.
A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!
Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
Another development and adaption in bitcoin. But banks may not need to associate in bitcoin because we can securely monitored our own btc without limits and without taxes.
Banks have finally found a way to control bitcoin (I've always known they won't want to lose control)
Before you know it, bitcoin will start facing the same problem that fiat is facing now - gross devaluation.
Before you know it, bitcoin will start facing the same problem that fiat is facing now - gross devaluation.
apart from all the obvious that (we) bitcoin users will never use such service because we can hold out bitcoins ourselves, i believe that this service will introduce bitcoin to many new investors and that is always good.
if you think about it, there are big investors who are using these banks and when they see this offer and when they check out the potential they will surely start investing and that is always good for the "price to the moon" thing
if you think about it, there are big investors who are using these banks and when they see this offer and when they check out the potential they will surely start investing and that is always good for the "price to the moon" thing
No, thanks. I prefer having my own wallet. Banks never wanted to let us be free, they always look out for profit. Although I like the fact that it's going to become popular in the world, having a Bitcoin wallet in a bank basically cancels the most important features Bitcoin provides you.
A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!
Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
Yes i agree and the Banks are just looking for profit and today they try to scam bitcoin's users with selling paper as bitcoin, let's against this method scam of Bank, because we can become a Bank with bitcoins.Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!
Read up!
https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria
This is a pretty good move, it will help to bring in those people that don't want to get bogged down with anything technical.
I am not sure though where the bank would be making their money by doing this, I would guess that they would charge a premium on the bitcoins or maybe a maintenance fee for looking after the coins and managing the investment, although bitcoin doesn't need banks in any way it is a good move adoption wise.
I am not sure though where the bank would be making their money by doing this, I would guess that they would charge a premium on the bitcoins or maybe a maintenance fee for looking after the coins and managing the investment, although bitcoin doesn't need banks in any way it is a good move adoption wise.
Why would anyone would buy such certificates when actually hold Bitcoins is so easy and you have no need of big faults and security teams and space?
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