Topic: First Ever Bitcoin Bank to be Opened in Switzerland? (Read 6990 times)
if the banck will act on just buy and sell of bitcoins would be good otherwise i guess no interest to deposit bitcoins into it
Looks pretty legit, but I'm not surprised they have something like this already. Banks always make the most money! Remember that my friend.
banks invest sell buy coins ,custumers would be able to trace where they spend the money ,where investment is being make.... soo they couldnt anymore be the king.... soo lets say the black income they get would be more black would be very easy to tract it...they dont wanna those .... about management well like exchanges with the loans we would see our bitcoins but we should have to deposit them on some wallet ,that bank would use..... we would see just bitcoin virtual and not able to moove it instant makes no sense a bank at the moment.
If they pay a decent rate of interest, then why not?
Centralization? Sure. Regulation? 100% bummer.
But on the flip side, what would a bank do with Bitcoin deposits? Lend them to people that don't have them? That would be my guess. So, let them drive adoption.
Wouldn't touch them myself; well not unless I had to get a really big loan to buy a beach hut on the other side of the planet.
I think if bank lends the deposits to other people, it will be nice. Right now, there are many scam methods. One of them is borrow bitcoin without any valid collaterals and they never return it. Maybe bitcoin banks can solve this problem because banks have good collateral standart in credit application. Centralization? Sure. Regulation? 100% bummer.
But on the flip side, what would a bank do with Bitcoin deposits? Lend them to people that don't have them? That would be my guess. So, let them drive adoption.
Wouldn't touch them myself; well not unless I had to get a really big loan to buy a beach hut on the other side of the planet.
If they pay a decent rate of interest, then why not?
Centralization? Sure. Regulation? 100% bummer.
But on the flip side, what would a bank do with Bitcoin deposits? Lend them to people that don't have them? That would be my guess. So, let them drive adoption.
Wouldn't touch them myself; well not unless I had to get a really big loan to buy a beach hut on the other side of the planet.
Centralization? Sure. Regulation? 100% bummer.
But on the flip side, what would a bank do with Bitcoin deposits? Lend them to people that don't have them? That would be my guess. So, let them drive adoption.
Wouldn't touch them myself; well not unless I had to get a really big loan to buy a beach hut on the other side of the planet.
there isnt a need to control the wallet just need the adress to get the interest paid montly on it ,in this case they would create the wallet us just will be able to see balance ,,,soo the bank couldnt lend our btc to others without we know soo not worthy for a bank... get deposits and offer interest without being able to lend those same money between users lol
But as a Bitcoin user do we really need a bank? This is very logical question and I believe that majority of us would say a BIG NO that we don't need any bitcoin bank to keep our bitcoins safe as it is already safe and we are taking great care of its security as we take of our wife and our child lol
But anyways, looks like Bitcoin getting even more popular, and will grab even more people's attention, which is a good thing.
Yes and bank runs on the various charges they charge from their customers. Charges are basically the profits of the bank. If they don't charge they would need to shut down their bank. So why should we pay unwanted charges to bank if we are getting everything for least charges.
And now is my question, how exactly bitcoin ban would want to earn from that? You probably need to give that bank full control over your bitcoins, including private key and ability to use your coins as their please.
Are you really fine with that idea?
It depends if the Bitcoin bank is regulated to the same extent as regular banks. There are often mechanisms that ensure that customers of bankrupt/robbed banks get their money back up to a certain limit. Sometimes the state guarantees deposits up to a certain limit, and sometimes other mechanisms provide the same guarantee.
I would trust a Bitcoin bank with my private keys if the state guaranteed to return my Bitcoins if the Bitcoin bank went bankrupt.
If bank bankrupts, maybe you will get back your money but a long time later, like bter.(exchange not a bank)
there isnt a need to control the wallet just need the adress to get the interest paid montly on it ,in this case they would create the wallet us just will be able to see balance ,,,soo the bank couldnt lend our btc to others without we know soo not worthy for a bank... get deposits and offer interest without being able to lend those same money between users lol
But as a Bitcoin user do we really need a bank? This is very logical question and I believe that majority of us would say a BIG NO that we don't need any bitcoin bank to keep our bitcoins safe as it is already safe and we are taking great care of its security as we take of our wife and our child lol
But anyways, looks like Bitcoin getting even more popular, and will grab even more people's attention, which is a good thing.
Yes and bank runs on the various charges they charge from their customers. Charges are basically the profits of the bank. If they don't charge they would need to shut down their bank. So why should we pay unwanted charges to bank if we are getting everything for least charges.
And now is my question, how exactly bitcoin ban would want to earn from that? You probably need to give that bank full control over your bitcoins, including private key and ability to use your coins as their please.
Are you really fine with that idea?
It depends if the Bitcoin bank is regulated to the same extent as regular banks. There are often mechanisms that ensure that customers of bankrupt/robbed banks get their money back up to a certain limit. Sometimes the state guarantees deposits up to a certain limit, and sometimes other mechanisms provide the same guarantee.
I would trust a Bitcoin bank with my private keys if the state guaranteed to return my Bitcoins if the Bitcoin bank went bankrupt.
That is the problem with financial liquidity. It is always advertised as stable until it isn't. And you will never know. People need to be confident enough to manage their own money.
there isnt a need to control the wallet just need the adress to get the interest paid montly on it ,in this case they would create the wallet us just will be able to see balance ,,,soo the bank couldnt lend our btc to others without we know soo not worthy for a bank... get deposits and offer interest without being able to lend those same money between users lol
But as a Bitcoin user do we really need a bank? This is very logical question and I believe that majority of us would say a BIG NO that we don't need any bitcoin bank to keep our bitcoins safe as it is already safe and we are taking great care of its security as we take of our wife and our child lol
But anyways, looks like Bitcoin getting even more popular, and will grab even more people's attention, which is a good thing.
Yes and bank runs on the various charges they charge from their customers. Charges are basically the profits of the bank. If they don't charge they would need to shut down their bank. So why should we pay unwanted charges to bank if we are getting everything for least charges.
And now is my question, how exactly bitcoin ban would want to earn from that? You probably need to give that bank full control over your bitcoins, including private key and ability to use your coins as their please.
Are you really fine with that idea?
It depends if the Bitcoin bank is regulated to the same extent as regular banks. There are often mechanisms that ensure that customers of bankrupt/robbed banks get their money back up to a certain limit. Sometimes the state guarantees deposits up to a certain limit, and sometimes other mechanisms provide the same guarantee.
I would trust a Bitcoin bank with my private keys if the state guaranteed to return my Bitcoins if the Bitcoin bank went bankrupt.
In Western movies men with guns rob banks. If the man on the street is his own bank he may be much easier to rob than a more organised operation. There has to be a price though.
there isnt a need to control the wallet just need the adress to get the interest paid montly on it ,in this case they would create the wallet us just will be able to see balance ,,,soo the bank couldnt lend our btc to others without we know soo not worthy for a bank... get deposits and offer interest without being able to lend those same money between users lol
But as a Bitcoin user do we really need a bank? This is very logical question and I believe that majority of us would say a BIG NO that we don't need any bitcoin bank to keep our bitcoins safe as it is already safe and we are taking great care of its security as we take of our wife and our child lol
But anyways, looks like Bitcoin getting even more popular, and will grab even more people's attention, which is a good thing.
Yes and bank runs on the various charges they charge from their customers. Charges are basically the profits of the bank. If they don't charge they would need to shut down their bank. So why should we pay unwanted charges to bank if we are getting everything for least charges.
And now is my question, how exactly bitcoin ban would want to earn from that? You probably need to give that bank full control over your bitcoins, including private key and ability to use your coins as their please.
Are you really fine with that idea?
the real thing is we invest ours bitcoins whenever we wanna and when we want we dont need banks deposits to earn interest already some exchanges doing that 0.06%daily on poloniex with some colateral to avoid be scamed and loose all....99%safe.means 1.8% montly interest not bad at all
I simply don't trust banks even when it comes for fiat currency so trusting it for the deposits of bitcoins is simply impossible. I would rather prefer to keep my bitcoins safe in my wallet and use it as and when required.
We dont need bitcoin banks, it's good in exchange isn't it?
the real thing is we invest ours bitcoins whenever we wanna and when we want we dont need banks deposits to earn interest already some exchanges doing that 0.06%daily on poloniex with some colateral to avoid be scamed and loose all....99%safe.means 1.8% montly interest not bad at all
I simply don't trust banks even when it comes for fiat currency so trusting it for the deposits of bitcoins is simply impossible. I would rather prefer to keep my bitcoins safe in my wallet and use it as and when required.
the real thing is we invest ours bitcoins whenever we wanna and when we want we dont need banks deposits to earn interest already some exchanges doing that 0.06%daily on poloniex with some colateral to avoid be scamed and loose all....99%safe.means 1.8% montly interest not bad at all
there isnt a need to control the wallet just need the adress to get the interest paid montly on it ,in this case they would create the wallet us just will be able to see balance ,,,soo the bank couldnt lend our btc to others without we know soo not worthy for a bank... get deposits and offer interest without being able to lend those same money between users lol
But as a Bitcoin user do we really need a bank? This is very logical question and I believe that majority of us would say a BIG NO that we don't need any bitcoin bank to keep our bitcoins safe as it is already safe and we are taking great care of its security as we take of our wife and our child lol
But anyways, looks like Bitcoin getting even more popular, and will grab even more people's attention, which is a good thing.
Yes and bank runs on the various charges they charge from their customers. Charges are basically the profits of the bank. If they don't charge they would need to shut down their bank. So why should we pay unwanted charges to bank if we are getting everything for least charges.
Magnr provides interest on bitcoin deposits. Xapo allows you to store your bitcoins in their vault. Web wallets allow you to store your bitcoins on their sites. Exchanges allow you to withdraw fiat. Some exchanges provide debit cards.
BUT if a service is called a "bank" everyone's all "BITCOIN DOESN'T NEED A BANK!"
I suspect half of the repeated comments on this thread (that haven't read any of the other comments) are signature campaigners getting their post numbers up.
BUT if a service is called a "bank" everyone's all "BITCOIN DOESN'T NEED A BANK!"
I suspect half of the repeated comments on this thread (that haven't read any of the other comments) are signature campaigners getting their post numbers up.
is this the First Ever Bitcoin Bank to be Opened in Switzerland?
source:
http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/
source:
http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/
Doesn't sound like that much of a nice idea to have bitcoin banks, unless they can take bitcoin as collateral and offer loans, bitcoin is more secure in your cold storage if you can maintain it properly than with the banks or exchanges who cannot give much surety of your funds, same as what happened to mtgox and many other exchanges.
Is there really a need for a Bitcoin bank?
I thought the whole purpose of Bitcoin is to avoid banks.
To be your own bank.
I thought the whole purpose of Bitcoin is to avoid banks.
To be your own bank.
You are completely right,
That's the point.
I think a bitcoin bank would be good for mass market users, as long as the bank doesn't screw everything up. The main problem hindering mass bitcoin adoption is still the high barrier for entry (with regards to getting bitcion, available wallets, securing their coins, and spending). A decent bank should be able to solve this problem. However, most tech savvy users won't need to keep their bitcoins in banks. As always, having multiple options is never a bad idea.
Exactly, bank is just an option for bitcoin.
I think a bitcoin bank would be good for mass market users, as long as the bank doesn't screw everything up. The main problem hindering mass bitcoin adoption is still the high barrier for entry (with regards to getting bitcion, available wallets, securing their coins, and spending). A decent bank should be able to solve this problem. However, most tech savvy users won't need to keep their bitcoins in banks. As always, having multiple options is never a bad idea.
Giving loans @10% per year, and offering savings accounts @6% per year, they could make nice profits.
This assumes 96% of loans will be paid back. IMHO that's the hard part (finding honest and capable borrowers, tracking down delinquent ones). The security of holdings aspect is easy in comparison.
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