Bitcoin in the banks?! - page 10. | Bitcointalksearch.org

Mumbeeptind1963

hero member

Activity: 1190

Merit: 568

Sovryn - Brings DeFi to Bitcoin

Quote from: marcuslong on June 07, 2016, 07:47:19 AM

What is the use of bitcoin wallet if you store it in banks. And if you store it to banks there are possibilty that your bitcoin can loss by just rubbing online if you hide it yourself your earning and all amount of your money you only know theres a chance that rubbers online dont have plan to rubb your earning. Because if they know that you have a big amount they have plan for you. So if you store your money in banks there are chances that it can be rubbed

Bitcoin wallet can use to transfer your earning here then transfer to banks. You have a point that if you store it in the banks theres a chance that it can rubbed by robbers. And if you hide to your house many rubbers didnt know what is bitcoin so they dont know this is money so theres no need to secure it. If the bitcoin known worldwide theres a chance that many rubbers target you if you have many bitcoins. So it is safe to hide it to yourself and dont say to your neighbours that you have a big amount of bitcoin.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: mocacinno on June 07, 2016, 07:48:16 AM

Quote from: shorena on June 07, 2016, 07:38:09 AM

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank?

I've actually been thinking that if i collect a bit more coins, it might become a good idear to store my paper wallets in a safe deposit box at the local bank. This way, i am safe from home invaders. If somebody breaks into my house in the middle of the night, and asks for my private keys, i can honestly tell them they're at the bank. If the bank ever gets robbed, and my paper wallets get stolen, they're useless to the thief since they're bip38 encrypted (so it might be a good idear to rent 2 deposit boxes in 2 banks to cover all your bases).

At this moment, i think this sounds paranoid since the risks might seems small, but maybe in the future when somebody is known to hold several hundred bitcoins, he/she might become an interesting victim for home invaders with technical knowledge. After all, you're your own bank, so if you hold hundreds of bitcoins, your paper wallets/hardware wallets/cold storage can be physically stolen.

That might be a problem worth considering, but Id still prefer a couple of friends over a bank.

mocacinno

legendary

Activity: 3584

Merit: 5243

https://merel.mobi => buy facemasks with BTC/LTC

Quote from: shorena on June 07, 2016, 07:38:09 AM

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank?

I've actually been thinking that if i collect a bit more coins, it might become a good idear to store my paper wallets in a safe deposit box at the local bank. This way, i am safe from home invaders. If somebody breaks into my house in the middle of the night, and asks for my private keys, i can honestly tell them they're at the bank. If the bank ever gets robbed, and my paper wallets get stolen, they're useless to the thief since they're bip38 encrypted (so it might be a good idear to rent 2 deposit boxes in 2 banks to cover all your bases).

At this moment, i think this sounds paranoid since the risks might seems small, but maybe in the future when somebody is known to hold several hundred bitcoins, he/she might become an interesting victim for home invaders with technical knowledge. After all, you're your own bank, so if you hold hundreds of bitcoins, your paper wallets/hardware wallets/cold storage can be physically stolen.

franky1

legendary

Activity: 4410

Merit: 4766

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

some common replies to this subject:

bitcoin does not need banks. you can however put a private key in a safe deposit box any time you like.

banks will not drop FIAT to solely and directly hold bitcoin, at the moment there are regulations that have been around for decades to keep FIAT as the sole currency a bank should handle.

however private businesses are already trying (mostly failing (due to scammy motives of them)) to create bank-like services.

you will not see a bank transacting in bitcoin direct. just like you cant buy shares or gold from your banks ATM.. however their corporate arms(subsidiaries and side businesses) may offer services to 'open special trading accounts' to buy and sell bitcoin just like some banks have special trading side business for stocks and shares.

just dont expect it to be something that will be available as part of a standard savings account or service offered at an ATM.

but overall, i still wonder why people think that banks are even needed... anyone who suggests they are.. obviously needs to learn the benefits of a personally held private key.

marcuslong

legendary

Activity: 1036

Merit: 1002

What is the use of bitcoin wallet if you store it in banks. And if you store it to banks there are possibilty that your bitcoin can loss by just rubbing online if you hide it yourself your earning and all amount of your money you only know theres a chance that rubbers online dont have plan to rubb your earning. Because if they know that you have a big amount they have plan for you. So if you store your money in banks there are chances that it can be rubbed

matruidy

newbie

Activity: 15

Merit: 0

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

yes but why you need to deposit bitcoin in a bank? and Who is the really "owner" of this coin/priv key!?

Quote from: shorena on June 07, 2016, 07:38:09 AM

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank?

Yes trust btc is more stronger than trust a bank!!!

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: erickkyut on June 07, 2016, 07:35:53 AM

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank?

erickkyut

hero member

Activity: 1176

Merit: 509

Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.

Topic: Bitcoin in the banks?! - page 10. (Read 5935 times)