Topic: First Ever Bitcoin Bank to be Opened in Switzerland? - page 2. (Read 6990 times)
Ahh.. I saw this news on another thread. And I would really like to see a Bitcoin bank. It could increase Bitcoin popularity. However, I wont be using it. I use Bitcoin mainly because I want privacy and I dont want anyone to be able to track me.
If enough security measures would be in place, to assure safety of the bitcoins stored and operated with, i would support the idea of bitcoin bank.
Giving loans @10% per year, and offering savings accounts @6% per year, they could make nice profits, and run a clean and opened business while providing people with service they want.
Having such institutions would mean a great deal for the bitcoin industry, but would also have an insane impact if such business model would be compromised, so i guess it's a double bladed sword in a way.
Imagine every thief watching those funds in block explorer, the security of such operation would have to be at insane levels!
cheers
Giving loans @10% per year, and offering savings accounts @6% per year, they could make nice profits, and run a clean and opened business while providing people with service they want.
Having such institutions would mean a great deal for the bitcoin industry, but would also have an insane impact if such business model would be compromised, so i guess it's a double bladed sword in a way.
Imagine every thief watching those funds in block explorer, the security of such operation would have to be at insane levels!
cheers
the banks minds is get deposits that will generate interest to owners ,and lend those money to others... banks acts the same way .. and a bank to bitcoin wont happen if they dont have lets say a bigger interest income then others banks money.... if they set interest to 10% montly im pretty sure they would collect several bitcoins otherwise it would happen.. but would be required some contract to protect our bitcoins otherwise a run could be projected to happen
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.
Poor article, it doesn't say a word about what this bank is going to do. Who will be its customers? It's already very easy to buy and sell BTC in Switzerland. What is going to change with this bank? What will be better?
Maybe it's related to bitcoin ATM in public place. I don't know exactly who will be its customers, cause bitcoin is a crypto currency and it doesn't have physical form except you change it into paper wallet.Many of the articles claiming "bitcoin bank", "first bitcoin bank", etc. (yes there have been many) have been written to encourage bitcoin holders to make deposits. Hopefully you can figure out how that usually winds up ending.
Poor article, it doesn't say a word about what this bank is going to do. Who will be its customers? It's already very easy to buy and sell BTC in Switzerland. What is going to change with this bank? What will be better?
Maybe it's related to bitcoin ATM in public place. I don't know exactly who will be its customers, cause bitcoin is a crypto currency and it doesn't have physical form except you change it into paper wallet. 
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
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
Poor article, it doesn't say a word about what this bank is going to do. Who will be its customers? It's already very easy to buy and sell BTC in Switzerland. What is going to change with this bank? What will be better?
Yeah and now we are so used to the Bitcoins that neither we need a bank nor we need a support from the government to start adopting and accepting bitcoin as a currency the only thing we need is the adoption from the people around us and if they are not aware we need to create an awareness level among them by disclosing the advantages of holding bitcoins.
Poor article, it doesn't say a word about what this bank is going to do. Who will be its customers? It's already very easy to buy and sell BTC in Switzerland. What is going to change with this bank? What will be better?
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despite this i'm sure many will use their service, those that are not too much into bitcoin, but that still want to use it as an alternative method
exactly Amph... 
& just because of future regulations in their country......., and this will be come true for most of the EU's countries ( even if switzeland is NOT included in EU ... ) an for France too..unfortunately.. 
If a bank holds your bitcoin, you have to submit identification. And they have control over your bitcoin with their wallets on their network.
The main reason for the existence of bitcoin totally goes against this.
You might as well get rid of your bitcoin and just use cash at this point.
The main reason for the existence of bitcoin totally goes against this.
You might as well get rid of your bitcoin and just use cash at this point.
it might be surely a way to regulate bitcoin in disguise, well why not? if that can help the bitcoin adoption, one should be in favor of it
despite this i'm sure many will use their service, those that are not too much into bitcoin, but that still want to use it as an alternative method
If a bank holds your bitcoin, you have to submit identification. And they have control over your bitcoin with their wallets on their network.
The main reason for the existence of bitcoin totally goes against this.
You might as well get rid of your bitcoin and just use cash at this point.
The main reason for the existence of bitcoin totally goes against this.
You might as well get rid of your bitcoin and just use cash at this point.
How much dividends for deposits will it pay and will there be any official written agreements or this bank will be able to scam you out of money like all these popular cloudmining websites our days? 
Exactly You cannot afford to trust the banking system when it comes to bitcoin. It is better not to invest in banking and just get carried with the procedure that we are using it right now that we would stay away from government and banks.
How much dividends for deposits will it pay and will there be any official written agreements or this bank will be able to scam you out of money like all these popular cloudmining websites our days?
You can't stop the fact coz it was already made.
wow that's great news
i also have heard of a news like this one but i think its an australian bank
i also have heard of a news like this one but i think its an australian bank
if a bank accepts bitcoin as deposits ,i guess they would get too many bitcoins soo they could manipulate the worth,soo better stay away wanna interest? exchanges already allowing it to happen soo invest there lol and keep your precious away from government as bank owners lol
Yes you cannot trust neither government nor the banking systems of the country so it is better that we keep our bitcoin safe even if there are bitcoin banks available in the country and I really wish to keep my identity safe.
if a bank accepts bitcoin as deposits ,i guess they would get too many bitcoins soo they could manipulate the worth,soo better stay away wanna interest? exchanges already allowing it to happen soo invest there lol and keep your precious away from government as bank owners lol
This is not a good news. First bitcoin is decentralized currency, now it's first bank will be opened in Switzerland. Government will gain control of bitcoin if there's bitcoin bank in a country. Second, bitcoin is anonymous. If we transfer and exchange at bank, we must write our name, our purpose and the others.
So you think anybody will force you to use a bank?
Lol..That is true nobody is gonna force us to use bank for the sake of bitcoins I mean we really don't need a bank's involvement in the use of bitcoins we are using it and we will continue in the future without a bank.
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