Topic: Banks offering investing in Bitcoin - page 2. (Read 1160 times)

Banks are also a business organization, and what they care most about is money, they are just like us so it is not surprising that they are also in this game. But surely they will have more favorable regulations for them and if those who accept to use their services, they must follow the rules of the game they set.

Currently, there aren't too many banks that do this, but you'll soon see. They haven't offered this service yet because they haven't figured out how to get the most benefit out of them. But once they figure a way, you'll see banks that offer bitcoin investments becoming popular.

yes, I agree with this. banks will do all kinds of ways to keep them leading, even they will accept investments that even go against the system they have. It's just that, I think, not all banks will do that, and maybe will do some trials in a few places. If it was really profitable, then other places would follow suit, but if it didn't they might think it was a bad investment.
In fact, so far I haven't seen a national or private bank in my area that supports investing in bitcoin.

Direct involvement is possible, but we can guess what banks will do with cryptocurrencies.
They never like anyone to compete with them with instruments that are transparent and do not have full control.
Remember that banks are under the government and the government should have all the control.

So there is nothing to expect in integration with banks, as it will only lead us to the rule of existing institutions.
That would remove the essence of Bitcoin's decentralized characteristics.

Whether they would really be engaging it early or late, it wont really be still that changing a thing because even if they would be integrating Bitcoin investment or storage, then i dont really believe that

people would really be longing with this kind of offering or feature for these banks to have. We do know that people who do love and appreciate Bitcoins anonymity and decentralization wouldn't really be looking on trying out to make use or would really be adopting if in case that banks would really be having this kind of offering or feature which it would really be just that still useless knowing on how
centralized or heavily regulated these institutions are which would really be entirely removing the essence of Bitcoins characteristics or purpose in the first place.

Well, there might be still some crypto supporters or enthusiast would really be tending out to make use for this one in planning to have at least that safe keeping but in overall
it is really just that contradictory.

People were looking for better things from the traditional money. The same have made people to go towards bitcoin and other investments. Bitcoin investment is always the best and people should have the patience to enjoy the goodness out of bitcoin. This doesn't happen with people who who lack the market movements as well as the people who lack knowledge about bitcoin. Now the awareness and education have given space for people to be aware and hard users of bitcoin. This is why banks have begun and the understood that delaying the acceptance would cost them big

Banking system try to suppress the bitcoin over a decade,but it was not possible one.Because the bitcoin had root the world economy now.Most of the people from various country had their investment in the bitcoin and other cryptocurrency.So the economy activities was purely depend on the cryptocurrency now.Most of the big shot had their money in the cryptocurrency,Elon was the big example for this.He made the huge influence on the doge coin.Doge coin  had huge investment for certain period of time.

Eventually, when global adoption finally happens, then there’s no stopping from these banks and other centralized financial institutions to accept bitcoin because it’s no longer a tool for investment alone but a co-currency to fiat. So whether we like it or not, bitcoin will be regulated by these banks which I think also creates a disadvantage on us. But hey, anonymity should never be an issue anymore as KYC will surely be imposed for good. If we want to see bitcoin increases it’s use case, then let’s accept the reality that banks will be part of its development.

In fact, it is the banks themselves who abuse the authority over the rights of the money we keep in them. This will lead to financial manipulation by providing digital transactions without fiat money and this case has already happened in America, they themselves also want to play the blockchain system for the bank's own benefit.

Banks will try to get as many more customers as possible and they don't care, if law does not prohibit, if a product serves Bitcoin and cryptocurrency users.

If you (I am talking about newbies, not ChiBitCTy) use such middle service from banks to access Bitcoin investment, you will allow banks to trace your investment history. KYC is another problem with people who care about their privacy they will look for other options, not with banks and bank products.

If you don't care about privacy, you can go with bank products if you can actually get bitcoin after using bank to buy it. If they only credit a number of bitcoin for your bank account and you can not withdraw it, don't use such products.

Banks are going to try and do whatever it takes to stay a float, or a head of the game, so to speak. If they see or discover an opportunity to be able to add another service that fits in pretty well with their business model, then they are likely to do so. People still trust banks, whether they should or not, so for the banks themselves this makes a lot of sense of what not to miss out on (another way to make money).

good things always happen if it is as you say, by involving the banking sector for every crypto transaction[bitcoin/altcoin].
if the bank is involved, at least there is an attempt by the government authorities to be able to control every transaction, so that there are no irregularities that can be misused in every transaction.
besides of course customers will also get convenience in using every transaction in banking, banks can attract crypto investments in banks.
of course it's true, apart from mutual benefit between banks and investors, the government will have the convenience of being able to collect taxes from every transaction made, of course this will add to its own profit income.

In my opinion, bank involvement in Bitcoin and cryptocurrencies can have several benefits. For example, with crypto exchanges through banking applications, business users can get easy access and security in investing. In addition, with proper regulation, the system can also assist the government in taxing companies that invest in Bitcoin through bank accounts.

In a way you could be overthinking it and on another note your fear could be something to really look into. Nonetheless, some countries are beginning to embrace Bitcoin and as such making rules that foster citizens using Bitcoin as means of transactions through bank portals...you should actually look into the policies behind the usage of bitcoin as means of transacting in any of the banks and how the banking rules affect or correlate with decentralization which is the aim of this Bitcoin...as long as the intentions and countries regulations towards usage of bitcoin is not trying to 'be in charge' or bringing Bitcoin to be ruled by the government like a form of centralization then it's okay you don't have to worry. As regards the taxation of Bitcoin investments through bank accounts, government policies and regulations differ from country to country. Taxation policies are typically aimed at ensuring compliance and fairness in the financial system. It is possible that governments may introduce regulations to monitor and tax cryptocurrency transactions, including those made through bank accounts. However, specific policies and approaches can vary significantly, and it is essential to consult local tax authorities or financial experts for accurate information on your jurisdiction's regulations.
Overall,  the question of whether banks should be involved in the cryptocurrency market is subjective and can depend on individual perspectives. Some argue that their involvement can bring legitimacy, stability, and improved accessibility to the market, while others express concerns about control and centralization. As the cryptocurrency landscape continues to evolve, it is important to monitor government policies, regulatory developments, and the total impact on the financial community to form an informed opinion

Lots of people would be skeptical specially to those who are really that supporting cryptocurrencies on which really that been here for that decentralization and anonymity.For those institutions or regulated firms and

whatsoever who had been deciding on taking up some involvement or getting in connection with Bitcoin or crypto space then it cant really be avoided that people who do mainly support crypto would really be having those doubts and assuming that there's something with this kind of of plans or steps that they had made. We know that BItcoin/crypto is totally that contradicting on what Banks do offer which we know that
these institutions does much prefer those traditional things but now they've seen that the trend is like this then they would be tending to go with the flow.

Yes, they could but the trust cant really be totally be put up on what those service that they are offering. People would really be that skeptical and would be still storing up their coins on their own wallets
and would really be buying p2p for having no trace.

Banks were the centralized medium, but the usage of banks will help a lot in the progress of bitcoin adoption and support large scale usage. Whenever something is handled by banks it easily gains the trust. Banks have been termed to be a failed system, maybe they lack some essentials as well as take control of user funds. However the goodness it have provided to the people and to the countries were very big. This time the banks supporting bitcoin is a big positive move forward.

Until the coast is completely clear, I want to remain skeptical about the whole bank-offering Bitcoin thing. I don't want to see it as a "If you can't beat them you join them" situation since Bitcoin has continued to gain more attention unlike before. It could still be a trap to frustrate Bitcoin fans for all I know. I wouldn't buy Bitcoin through any bank in my country if banks decide to sell it. It's the same way I want others in countries where banks offer Bitcoin sale. Exchanges and P2P are there for anyone to buy from, not from one of Bitcoin's perceived big rivals.

As you know, a bank always avoids engaging in risky activities with its customers funds because it cannot undertake speculative investments. This is because cryptocurrency is Decentralized, so banks cannot engage in such activities. Every bank has its own rules and policies, Primarily designed to protect customers. Banks ensure liquidity and security for their customers. Still investing in Bitcoin is considered risky. If a bank wants to offer Bitcoin investment, They will apply their principles and regulations, Such as managing risk through careful evaluation, and then they may propose Bitcoin investment to their customers.

I have never heard of any bank being able to control Bitcoin because Bitcoin is not the same as fiat money which basically can be controlled more easily by the Bank. Likewise for the problem of taxes on those who own Bitcoin, because as long as the state has not recognized Bitcoin as a good asset, who should we pay taxes to if one day we have more Bitcoin?

Because every tax quoted by the state is always clear and also precise, such as taxes on vehicles, companies and other assets such as buildings. Now, as for Bitcoin itself, to whom should we distribute the tax? Because not only have I never seen anyone pay taxes because he has more Bitcoins, I also don't know how the state will accept Bitcoins when the taxes are paid in Bitcoins.

The world is changing and technology is improving day by day, which Bank can't stop Bitcoin precisely, but to adopt Bitcoin and other alt-coins in cryptocurrency market towards the banking system as long the internet exist and is a Matter of time, therefore Bank are in business, while adding cryptocurrency into the system we add advantage and profitable to bank's, because of transaction fees or charge. So I strongly believe that one day Bitcoin will be accepted as a means of payment to every cryptocurrency users as an open business.

This is what i think, banks entering the Bitcoin space can be seen from different angles. On one hand, their endorsement and integration of Bitcoin services could indicate growing acceptance and adoption of cryptocurrencies. This can potentially lead to increased mainstream recognition and accessibility for users.

However, it's crucial to maintain a cautious approach. Banks have traditionally been part of centralized financial systems, and their involvement in the cryptocurrency space may raise questions about control and regulation. It's important to ensure that the core principles of decentralization and financial freedom are preserved.

Ultimately, whether banks should be in the Bitcoin game is a subjective matter. It's beneficial to keep an eye on their actions, policies, and potential impact on the ecosystem. Continued discussions, regulatory scrutiny, and the active participation of the cryptocurrency community will play a vital role in shaping the future dynamics between banks and Bitcoin.