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Topic: Bitcoin wallet in bank? - page 4. (Read 6916 times)

hero member
Activity: 1022
Merit: 511
October 21, 2016, 11:07:30 AM
Yes such thing can happen but for that we need a legal view of government so in other words, government must legalize bitcoin and crypto currency technology. If bank starts accepting bitcoins then it would really change the fiat and crypto relationship.  Through other point of view, what is the meaning of privacy if banks would keep record of our bitcoins?
Of course its good if Bitcoin is accepted by banks but that can only happen if the government legalized the use of bitcoin in the country. But, you should know that not all countries or government is willing to fully legalized the use of bitcoin. But that happen I think it will be a big step forward for bitcoin.
legendary
Activity: 3318
Merit: 1133
Leading Crypto Sports Betting & Casino Platform
October 21, 2016, 10:50:31 AM
I totally agree with this idea. But we know the bank they wont let it happen without profit in their end. That profit is not just small for them if a lot of users will be using them as a means of a wallet. Even with small amounts they could enlarge the profits using their advertisements to pull interested people.
full member
Activity: 238
Merit: 100
October 21, 2016, 10:32:59 AM
Hopefully it's gonna be a crazy change and j am ready to welcome this change. But I think if we have bitcoin wallet in bank then they could alter my account.
sr. member
Activity: 322
Merit: 250
October 21, 2016, 08:27:54 AM
That would defeat the purpose of bitcoin being a decentralized currency. What is possible is for banks to create a new product, somehow similar to bitcoin and offer it as another investment. Or they could just offer this new service to their online banking client as another added value service. But bitcoin as is being used by banks to be offered should destroy it altogether.

People tend to forget that bitcoins key role is that is it decentralized, with other words it's not owned by a single person or company. the moment several large entities hold many bitcoin they will be holding to much coins and that's not positive for bitcoin. Especially since we want to keep using it privately.
hero member
Activity: 714
Merit: 500
October 21, 2016, 02:55:21 AM
That would defeat the purpose of bitcoin being a decentralized currency. What is possible is for banks to create a new product, somehow similar to bitcoin and offer it as another investment. Or they could just offer this new service to their online banking client as another added value service. But bitcoin as is being used by banks to be offered should destroy it altogether.
legendary
Activity: 1652
Merit: 1000
October 21, 2016, 01:20:39 AM
currently there is no such thing in my country because government and banks in my country only accept traditional currency such as my local currency or dollar and they hasn't admit bitcoin as the currency that's why banks will never open their bitcoin wallet even though there are several rumour banks will accept bitcoin as a part from them but untill now i didn't see that happened so for now in my country there is not possible to see banks will integrated with bitcoin
legendary
Activity: 1526
Merit: 1001
October 20, 2016, 05:46:56 PM
Do you think that one day you could open Bitcoin wallet in your bank, along with your.ordinary bank account? And will banks have their own wallets? Or maybe they already have? There are some rumors that some banks are preparing themselfes to addopt the Bitcoin and give it to their clients as a new service?

If they haven't yet the bitcoin wallets then I think that they are planning or have the plans how to do it, but if I would use them I don't know maybe not because they can bankrupt and freeze your funds because if they don't provide the private key means that they are holding your money.
legendary
Activity: 1218
Merit: 1007
October 20, 2016, 05:37:11 PM
Do you think that one day you could open Bitcoin wallet in your bank, along with your.ordinary bank account? And will banks have their own wallets? Or maybe they already have? There are some rumors that some banks are preparing themselfes to addopt the Bitcoin and give it to their clients as a new service?

No. Bitcoin was designed to bring back the control of money back to the people. Why would you want to store your Bitcoins in a bank if for some weird reason they started to offer it for deposits. You are in effect giving them control of your money and they will start exploiting it by using your deposits and start offering "products" to businesses and borrowers.

I hope you get the whole point of Bitcoin and be on your way.
i agree with your  point. Yes, why would you want to store your bitcoins in a bank if you already has the control over it? Storing in a banks means giving them the right to take over and control of your money. plus of course, take note of the high transaction fees. Im prettyvsure if the banks will take control over it then they will probably impose high transaction fees. Who would ever want that to happen, right?
Some people want to store their money in banks because it helps them to feel some sort of security or whatever knowing that the safety of their money rests in someone else's hands, and this can be a good thing for them (in their opinion) because it means they won't be responsible if something goes wrong and they lose their money. It makes sense in some ways, and doesn't really make sense in others.
member
Activity: 70
Merit: 10
October 20, 2016, 05:32:16 PM
Do you think that one day you could open Bitcoin wallet in your bank, along with your.ordinary bank account? And will banks have their own wallets? Or maybe they already have? There are some rumors that some banks are preparing themselfes to addopt the Bitcoin and give it to their clients as a new service?

No. Bitcoin was designed to bring back the control of money back to the people. Why would you want to store your Bitcoins in a bank if for some weird reason they started to offer it for deposits. You are in effect giving them control of your money and they will start exploiting it by using your deposits and start offering "products" to businesses and borrowers.

I hope you get the whole point of Bitcoin and be on your way.
i agree with your  point. Yes, why would you want to store your bitcoins in a bank if you already has the control over it? Storing in a banks means giving them the right to take over and control of your money. plus of course, take note of the high transaction fees. Im prettyvsure if the banks will take control over it then they will probably impose high transaction fees. Who would ever want that to happen, right?
sr. member
Activity: 672
Merit: 250
October 06, 2016, 03:21:39 AM
Bitcoin itself will gain its popularity, so there is no need of any aid from bank system. In my opinion, bitcoin is here to replace banks, so adoption of bitcoin by banks may delay that. Maybe banks will start some other services to find its way of surviving. Still, bitcoin will conquer our traditional banking system.
Your statements are really funny but unable to ignore them. Bitcoin has the power of providing free banking services to each and every human in this world, so when people realize the true potential of bitcoin they might start forgetting using bank system imho too.

Not everyone will forget using bank system because not every people would turn their faces to bitcoin, and that is the reason why banks wont make wallets for their clients to keep bitcoins in them as bitcoin is already a threat for banking system as it is something that does not have any tax or other systems not it has any big fees or transactions or other things, so why would banks introduce a system that can challenge their priority among their clients?
hero member
Activity: 952
Merit: 500
October 06, 2016, 03:14:25 AM
Bitcoin itself will gain its popularity, so there is no need of any aid from bank system. In my opinion, bitcoin is here to replace banks, so adoption of bitcoin by banks may delay that. Maybe banks will start some other services to find its way of surviving. Still, bitcoin will conquer our traditional banking system.
Your statements are really funny but unable to ignore them. Bitcoin has the power of providing free banking services to each and every human in this world, so when people realize the true potential of bitcoin they might start forgetting using bank system imho too.
Not really, most of the people will still trust bank. Bitcoin indeed has a very good system but it is not good for business who will transact with a big amount of money, bitcoin has no insurance and bank does. I do not see it will replace the current banking system. People need trust more than the system itself.
legendary
Activity: 1554
Merit: 1054
October 06, 2016, 01:24:16 AM
Bitcoin itself will gain its popularity, so there is no need of any aid from bank system. In my opinion, bitcoin is here to replace banks, so adoption of bitcoin by banks may delay that. Maybe banks will start some other services to find its way of surviving. Still, bitcoin will conquer our traditional banking system.
Your statements are really funny but unable to ignore them. Bitcoin has the power of providing free banking services to each and every human in this world, so when people realize the true potential of bitcoin they might start forgetting using bank system imho too.
sr. member
Activity: 616
Merit: 252
October 06, 2016, 01:17:25 AM
It will never happen. The bitcoin currency is a competitor to the established banks as it is. It would make no sense that banks allow you to store bitcoins.

What would be possible though, is that the banks make their own crypto currencies. This would actually be very likely to happen in the near future.
hero member
Activity: 700
Merit: 500
October 06, 2016, 01:10:38 AM
Bitcoin is decentralized. If you stored your Bitcoin in a bank, you give them control and that takes away the point of Bitcoin. Just store it yourself and you will be much safer.
hero member
Activity: 2520
Merit: 568
Payment Gateway Allows Recurring Payments
October 06, 2016, 01:03:36 AM
there is already a couple of banks accepting bitcoin, one of them is called Coinbase. you think it is a wallet? think again.

you are giving up all the control over you bitcoin just like with banks and fiat and they hold your coins for you, they can do whatever they want with it like investing and other stuff again just like banks. the only difference is that banks give you a profit but coinbase doesn't.

I don't know that coinbase is a bank. I know that it is just a bitcoin wallet provider and also using blockchain technology. I don't believe that coinbase is a bank or maybe you are referring to coinsbank? But if this is going to happen the bitcoin wallets are being provided by the banks, well another high fees we are going to shoulder.
legendary
Activity: 3472
Merit: 10611
October 06, 2016, 12:39:39 AM
there is already a couple of banks accepting bitcoin, one of them is called Coinbase. you think it is a wallet? think again.

you are giving up all the control over you bitcoin just like with banks and fiat and they hold your coins for you, they can do whatever they want with it like investing and other stuff again just like banks. the only difference is that banks give you a profit but coinbase doesn't.
hero member
Activity: 1190
Merit: 534
October 06, 2016, 12:28:17 AM
Yes such thing can happen but for that we need a legal view of government so in other words, government must legalize bitcoin and crypto currency technology. If bank starts accepting bitcoins then it would really change the fiat and crypto relationship.  Through other point of view, what is the meaning of privacy if banks would keep record of our bitcoins?
full member
Activity: 154
Merit: 100
October 06, 2016, 12:02:09 AM
Its a bad idea because people are using bitcoin wallet for ease. Every person using bitcoin have their own wallet so why would they go to the different banks for their wallet if they can use these bitcoin wallets easily without any interference of banks. It is not convenient to use bitcoin wallets of different banks.

I think just like you said,the purpose for satoshi nakamoto for creating bitcoin is for freedom.Like we all already know,now the money that we using in our real life is controlling by central.Bitcoin is the coin that exist for fighting this type of money.Just see today,1 bitcoin is worth more than a hundred dollar.
U2
hero member
Activity: 676
Merit: 503
I used to be indecisive, but now I'm not sure...
October 05, 2016, 06:54:31 PM
I really hope this never happens although I'm sure some banks will try it. Why use a trustless system if you're going to trust someone with said trustless system? It's just backwards. Did you want to give the banks all of our air and we can withdraw it when we need it? Oops the bank is closed on weekends. Nice knowing you Smiley
hero member
Activity: 490
Merit: 520
October 05, 2016, 06:52:30 PM
I dont think bank is going to adapt bitcoin soon, and i think a lot of user wont be too excited about that, because the main reason the user used bitcoin is because they can hide their identity when they used bitcoin, and if we are going to store our coin in the bank of course we need the identity and all documents to open an account
If Bitcoin ever gets to the point where a ton of people view it as a decent currency and it starts to be used a lot in daily life I would expect for there to be a number of people who would be interested in keeping their Bitcoin in a bank to avoid it being lost due to their own fault, and those who still care about security and anonymity would likely number close to where we are today. Maybe a bit more, but I don't think anyone currently using fiat currencies and don't use Bitcoin are interested in having added anonymity.
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