Bitcoin in the banks?! - page 9. | Bitcointalksearch.org

MFahad

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Quote from: mindrust on June 10, 2016, 02:58:56 AM

It is very possible.

But why would anyone need it? You can be your own bank. If you want to put your coins in a bank to gain interest then it is also much unlikely. I dont think any bank would give you an interest. Because btc price is too volatile and the maximum number of coins are limited.

Bitcoins wallets are already like the banks for bitcoins. Although wallets dont give interest but they are easy to setup and easy to use without any setup fee or registration costs. So we dont need physical banks for bitcoins.

amacar2

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I am not seeing this happening in near future but there are lots of licensed exchanger who accept sepa and swift deposits and withdraw but they have lots of limitation on the amount of bitcoin that can be bought and sell.

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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.

I think https://haobtc.com is bank of bitcoin, they give us interest if we put bitcoin on their service.

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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.

I don't think this will be viable for the banks for one simple reason - the very fluctuating price of Bitcoin will cause a constant loss of money when the value dips so they won't want to risk it with such a highly volatile asset like Bitcoin. It will be pretty much a gamble every single day and I don't think banks would want to deal with volatile digital currencies like Bitcoin. Also it would be very hard to calculate people's account balances in real time as the Bitcoin's price can jump up and down for dozens of dollars every minute or so.

wintermeasures

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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.

I think bitcoin will not become one with the bank, because we know the bank very closely its relationship with the government. And we know that bitcoin is decentralized, so it is highly impossible. moreover bitcoin conditions that are prohibited in some countries. Thank you

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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.

No, not for now. We know bitcoin it's opposite with bank, and I think the bank is not easier to have a good relationship with bitcoin. Some dev on bitcoin It's hate with the bank.

DOGE12321

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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 already wallets to deposit and withdraw BTC. Why wait for the future? For example, Coinabse. You can withdraw BTC from your signature campaign to your Coinbase wallet. This is the basic system that you outlined above.

mindrust

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It is very possible.

But why would anyone need it? You can be your own bank. If you want to put your coins in a bank to gain interest then it is also much unlikely. I dont think any bank would give you an interest. Because btc price is too volatile and the maximum number of coins are limited.

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Many representatives of the banks believe cryptocurrency threatened the entire banking ecosystem, but there are those who are strong enough interest is the use of Bitcoin in the financial sector.
UBS, of Citi Bank, Standard Chartered, of BNP Paribas, of Société Générale, Barclays, of Goldman Sachs.

All these global banks interested in Bitcoins, and have either introduced it into circulation, or are going to enter

ning_chang

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Here in our country we can deposit bitcoin in banks here, But we need to convert it first to our wallet. It is possible to deposit your bitcoins to bank

romero121

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If bitcoin makes tie up with the banking sector what OP mentioned might happen. In reality if it happens then bitcoin will be considered similar to banking. The value it got gets destroyed.

davis196

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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.

Maybe in the future bitcoin will be deposited in banks for interest and the banks will give bitcoin loans.

This isn`t very good idea,because btc price isn`t very stable.

What if a bank gives a loan to a guy and after that the btc price hits the roof.The guy with that debt will

bankrupt....That`s just my theory....

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Quote from: franky1 on June 07, 2016, 07:47:45 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.

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.

Bitcoin and Bank repel each other

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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.

It is possible for Bitcoin banks to exist but there is hardly any advantage. The security would still largely be dependent on you since you have to keep your log in information safe from hackers. By giving them the coins, you are also not in control of it and they can run with it. Bitcoin banks are likely not going to be a registered business so it would be risky. Earning interest is also quite hard since it isn't possible for online Bitcoin banks to borrow to others without risk.

MWesterweele

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I think it's a yes.I think it would be possible.Bitcoin can never replace fiat money now and in the future but it can be one of the fiat currency which can be deposited and accepted payments at banks and stores.It could be a basis of market also if bitcoin will be a fiat currency

KaliLinux

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Quote from: Daniel91 on June 07, 2016, 08:07:38 AM

I really don't see reason for it.
Bitcoin is not on the paper, and bank will not accept is as valid currency.
So, it seems we can only store private keys at the bank but again why to do it?
Is more safe to store such info somewhere offline, in my opinion.

As I have been aware that we can convert the BTC to banks and get it credited with local currencies. BTC wallet is same like as banks that are protecting our money securely in Crypt. Expecting the BTC card facility will be the upcoming one to draw money in ATM. Do we still need banks?

Amph

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isn't coinbase just like a bank? they cover your ass on your coin, if they are stolen or for any other problem related to their security

if you eman phisical bank, i can not see the reason for it, it would only mean increased fee

Denker

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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.

Why would you want to do that?
You have the possibility to store your bitcoins yourself wherever you want pretty safe!
If you don't hold the private key it is not your bitcoin anymore!!!!!!!!
Forget the banks in that case!They're obsolete!

Daniel91

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I really don't see reason for it.
Bitcoin is not on the paper, and bank will not accept is as valid currency.
So, it seems we can only store private keys at the bank but again why to do it?
Is more safe to store such info somewhere offline, in my opinion.

ning_chang

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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.

Here in our country we are able to convert our bitcoin to cash and deposit it in affiliated banks. We are using an exclusive wallet for that bank and our country too

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