Either way, it may or may not receive the attention and traction it needs to get a boost, considering that fiat and banks are still the most trusted combination of people who don't know anything about bitcoin. It will take time, though people would soon realize the that it can work, albeit a slightly absurd way of handling things (banks handling a coin that promotes people to 'be their own bank')
It always in the culture of every people in different country that usually when there is a sudden change to the things they are used to, we could expect that they would not accept it already, it would always take time for the people to understand and adopt to the new trends in the financial system, such as, the integration of crypto currency to their financial transactions. Thus, this mean that in the future we could expect full support from the people after they realized the benefits of using crypto currency. 
Topic: From 2020, the sale and custody of Bitcoin will be allowed to all German banks - page 2. (Read 1090 times)
January 28, 2020, 07:29:13 AM
January 26, 2020, 07:30:08 PM
When I hear this news I get furious: it's not bullish, it's pure bullshit!
Bitfoin was born to get rid of the power of banks; it doesn't make the slightest sense that a bank decides to "keep" the bitcoin !!!!!
It is just one of the many scams that power invents to block the advance of the crypto.
Disagree with that.Bitfoin was born to get rid of the power of banks; it doesn't make the slightest sense that a bank decides to "keep" the bitcoin !!!!!
It is just one of the many scams that power invents to block the advance of the crypto.
Getting rid of banks and financial sovereignty is an option given to bitcoin era, not a moral imperative.
There are a lot of subjects (read: institutional investors, who simply cannot hold their own bitcoins-they don’t even hold their traditional financial assets)
January 26, 2020, 07:14:52 PM
When I hear this news I get furious: it's not bullish, it's pure bullshit!
Bitfoin was born to get rid of the power of banks; it doesn't make the slightest sense that a bank decides to "keep" the bitcoin !!!!!
It is just one of the many scams that power invents to block the advance of the crypto.
Bitfoin was born to get rid of the power of banks; it doesn't make the slightest sense that a bank decides to "keep" the bitcoin !!!!!
It is just one of the many scams that power invents to block the advance of the crypto.
January 24, 2020, 10:58:51 AM
Might be uncorrelated, by a similar move is happening also in the Hawaii.
Hawaii Introduces Bill Authorizing Banks to Offer Crypto Custody
The virus is spreading!
Hawaii Introduces Bill Authorizing Banks to Offer Crypto Custody
Quote
The Hawaii State Senate has passed the first reading of a bill authorizing banks to hold digital assets in their custody.
The bill was introduced on Jan. 17 by five state senators, including the only Republican member of the Senate, Kurt Fevella. It passed the first reading on Jan. 21 and was then referred to the committees on Judiciary and Commerce, and Consumer Protection and Health on Jan. 23.
The bill specifies the set of provisions which a bank must adhere to in order to provide custodial services for digital assets. Custodial services cover “the safekeeping and management of customer currency and digital assets through the exercise of fiduciary and trust powers under this section as a custodian and includes fund administration and the execution of customer instructions.”
In order for a bank to qualify as a crypto custodian, it has to adhere to certain standards regarding accounting and internal controls, maintain IT best practices, and comply with federal Anti-Money Laundering and Know Your Customer requirements
The bill was introduced on Jan. 17 by five state senators, including the only Republican member of the Senate, Kurt Fevella. It passed the first reading on Jan. 21 and was then referred to the committees on Judiciary and Commerce, and Consumer Protection and Health on Jan. 23.
The bill specifies the set of provisions which a bank must adhere to in order to provide custodial services for digital assets. Custodial services cover “the safekeeping and management of customer currency and digital assets through the exercise of fiduciary and trust powers under this section as a custodian and includes fund administration and the execution of customer instructions.”
In order for a bank to qualify as a crypto custodian, it has to adhere to certain standards regarding accounting and internal controls, maintain IT best practices, and comply with federal Anti-Money Laundering and Know Your Customer requirements
The virus is spreading!
December 16, 2019, 06:31:57 PM
This must be one of the positive consequence of adopting European union's recent money laundering directives. It seems as per those directives, German laws now may start supporting cryptos as an asset. Still, European countries are not ready to declare bitcoin as a legal tender like how Japan did some 3 years back itself. I believe Swiss government may do that first among Europe countries.
The German banks have the permission to sell and hold bitcoin but i cannot find any by law that says it will be considered as a legal tender, it might be considered as a commodity and if the government gives the permission to use bitcoin as a legal tender then it will be a huge news for the market and it will reflect in the market and i am still waiting for more news about the recent development.Don't do things like this will affect to the price of German's currency, i mean since Bitcoin was okay to be traded and German banks granted the permission, those people who want to enter the crypto should sell their cash and put it into BTC. Let say government become neutral about this, but if they suddenly make the law to forbid it, it can cause problem for them who already doing it.
December 16, 2019, 06:06:08 PM
Very exciting development. Apparently a new order will be established. I think developing countries should act more aggressively. Malta has made a major breakthrough for bitcoin trading. He transferred Binance and similar institutions to his country. Now he will have a new order.
December 16, 2019, 09:27:18 AM
I am not entirely sure if this will be a good thing or a bad thing. I mean we would like the adoption rate to go up and German banks being able to store and even selling bitcoin could potentially increase the adoption. However, should adoption come with the problems of a bank causes as well? We all want adoption, we all hate banks, I don't know how to feel about this.
If I want to just see the good in this I could potentially say that thanks to German banks and the new rules there will be more and more people who will buy bitcoin which would both increase the adoption of purchases/spending of bitcoin, plus the price of bitcoin could increase as well. That being said if I want to see the bad part of it I could totally see banks scamming people with many different methods.
If I want to just see the good in this I could potentially say that thanks to German banks and the new rules there will be more and more people who will buy bitcoin which would both increase the adoption of purchases/spending of bitcoin, plus the price of bitcoin could increase as well. That being said if I want to see the bad part of it I could totally see banks scamming people with many different methods.
December 16, 2019, 09:18:02 AM
One huge benefit for Bitcoin with this ruling is that it will likely make Bitcoin more accessible to the average person. Many people don’t know how to acquire Bitcoin or altcoins, but in Germany, this may make it easier for everyone to invest.
December 15, 2019, 03:22:12 AM
The good news about this is it makes it easier for people to get introduced to bitcoin since likely the bank salesmen are going to talk them into their new product.
I think the main positive here would be to help improve adoption but other than that nothing really innovative.
Another question should be, keep your money in your own wallet or in bank account the government can freeze?
I think the main positive here would be to help improve adoption but other than that nothing really innovative.
Pay to leave your money in the bank, or be your own bank and gain from a deflationary currency? The choice is yours!
Another question should be, keep your money in your own wallet or in bank account the government can freeze?
i agree this is a move so the centralized bankers still can control your assets and therefore control you.
But it is a good thing that it adds legitimacy to those on the fence of whether bitcoin is safe.
I understand your last argument. The best it can help with bitcoin adoption is to further legitimize bitcoins in the eyes of the public. Best case scenario is people get their first bitcoin this way and then they move on to keeping their bitcoins in their own wallets rather than the bank's.
December 15, 2019, 01:04:32 AM
Finally Germany has also join the train of countries that would allow the use of Bitcoin. I know most of us are rather much interested in bitcoin being accepted as a mode of payment but let's not jump ahead of things. I know once that their banks have opened in using bitcoin i believe they would find a way to use bitcoin as a medium of exchange in the future.
We glad with many countries have accepted bitcoin as legal currency payment but until today we don't now what happen with country before have announcement for adopting bitcoin as legal currency payment. When German want adopt and accepted bitcoin as legal currency give positive respond for other country want to allow what have German did and received bitcoin as legal currency payment. 
December 14, 2019, 08:10:30 PM
I like the position that German banks have taken, I think they have analyzed the series of events that are coming for 2020, it is obvious that there will be a stablecoins war, from Countries that want to continue to control the economy.
Germany knows that there is not enough time for them to develop a stablecoin to face what is to come, apart they know that all this amount of events will bring in a massive way the adoption of Bitcoin.
They are intelligent movement and I admire this position, they do not really want to be left behind, they want to be at the forefront and take advantage of what happens.
Germany knows that there is not enough time for them to develop a stablecoin to face what is to come, apart they know that all this amount of events will bring in a massive way the adoption of Bitcoin.
They are intelligent movement and I admire this position, they do not really want to be left behind, they want to be at the forefront and take advantage of what happens.
December 13, 2019, 06:57:39 PM
Apparently not only German banks are starting to think about this kind of services:
Exclusive: ING working on digital assets custody technology - sources
NEW YORK (Reuters) - Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.
The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank’s several initiatives around blockchain, the technology underlying cryptocurrencies, the sources said.
Exclusive: ING working on digital assets custody technology - sources
Quote
NEW YORK (Reuters) - Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.
The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank’s several initiatives around blockchain, the technology underlying cryptocurrencies, the sources said.
Yes, they are all working on a technology to do what can already be done with the available tools.
Translation is we are working on ways to control your use of bitcoin because we cannot defeat it.
December 13, 2019, 06:40:55 PM
People always criticize banks, especially here in a forum about cryptocurrencies, anarchism, decentralization, etc. (nothing wrong with that basically). But when they read a news saying banks from a country will be able to use BTC on behalf of the customers you're all praising it 
There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future 'not your keys not your coins' or don't trust exchanges, and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future 'not your keys not your coins' or don't trust exchanges, and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
I perfectly understand your point.
I run a bitcoin full node, I HODL my coins, and I own my private keys.
But not everyone is like me (luckily, might I add).
Not everyone is ready to take the burden of financial sovereignty.
So welcome to more choices in the environment. More choice mean a more diverse audience can get introduced to bitcoin. And this is good.
One thing to remember is in fact, that this another choice adding on top of the others. This is not taking away the possibility to have your coins with you.
Can we think of the central states to ban personal detention of bitcoin (digital gold) like they did in the first place with physical gold? Sure the can (not that mean it will be effective), but this is totally a different story.
Don't worry because I also understand your argument. Do you know what? It's like GNU/Linux, basically, people wanted to create an open-source operating system with open source software, etc. To be free from Microsoft's monopoly, etc
Forks after forks now the things changed. You can find commercial OS like Red Hat or buntu family with for example Google chrome pre-installed and many other softwares that are not so "free", handled by big companies. We could well say for example Ubuntu is not "free" anymore. Canonical owns it and decide
The geeks use OS like Debian & co, the mass use Ubuntu & co
So yeah it gives multiple alternatives to people and yeah it helps the mass adoption. But for ourselves, you, me and everyone here, as early adopters it's funny to read it =)
Quote
Apparently not only German banks are starting to think about this kind of services:
Not surprised, ING is located in the Netherlands, Netherlands and Germany is like the same country, they are very cousins lol December 13, 2019, 01:05:41 PM
Apparently not only German banks are starting to think about this kind of services:
Exclusive: ING working on digital assets custody technology - sources
NEW YORK (Reuters) - Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.
The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank’s several initiatives around blockchain, the technology underlying cryptocurrencies, the sources said.
Exclusive: ING working on digital assets custody technology - sources
Quote
NEW YORK (Reuters) - Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.
The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank’s several initiatives around blockchain, the technology underlying cryptocurrencies, the sources said.
December 13, 2019, 06:02:51 AM
This is good news from German and this is a great sign of adoption. If bank will be buying and selling bitcoin directly then government will have no much options than to adopt it. This is part of the reason why we should buy bitcoin now that is extremely less expensive and sell when market starts to react to those events in 2020.
Of course and this is what we want. It is almost 15 days and we are in 2020 and hoping this German rule will have an impact on bitcoin price. So far more good news is coming, but the impact of this maybe next year as added that halving is coming. We are expecting a brighter year ahead with cryptocurrency next year.
December 13, 2019, 03:54:24 AM
Finally Germany has also join the train of countries that would allow the use of Bitcoin. I know most of us are rather much interested in bitcoin being accepted as a mode of payment but let's not jump ahead of things. I know once that their banks have opened in using bitcoin i believe they would find a way to use bitcoin as a medium of exchange in the future.
December 13, 2019, 02:21:11 AM
This is good news from German and this is a great sign of adoption. If bank will be buying and selling bitcoin directly then government will have no much options than to adopt it. This is part of the reason why we should buy bitcoin now that is extremely less expensive and sell when market starts to react to those events in 2020.
December 12, 2019, 05:10:14 AM
This is not just another good news about Bitcoin. The all makes all the difference. And it is not just happening in any country; it is happening in Germany. Sale and custody of Bitcoin in all banks? Can you believe it? One has to rub one's eyes to make sure he is reading it right.
Well, that I guess is the best decision of the German people about the rising inflation and fast eroding of their fiat's value. This decision somehow saves the banks. This could be the main reason why they will continue operating for the next years. They are almost becoming useless with the negative interest rates offer.
Well, that I guess is the best decision of the German people about the rising inflation and fast eroding of their fiat's value. This decision somehow saves the banks. This could be the main reason why they will continue operating for the next years. They are almost becoming useless with the negative interest rates offer.
December 11, 2019, 08:56:38 PM
People always criticize banks, especially here in a forum about cryptocurrencies, anarchism, decentralization, etc. (nothing wrong with that basically). But when they read a news saying banks from a country will be able to use BTC on behalf of the customers you're all praising it
There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future '"not your keys not your coins"' or "don't trust exchanges", and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
Last year we found many people giving information about bank want adopt bitcoin as their partner until now there are nothing and today have people said like last year for adoption blockchain in the bank, they have giving bullshit information every time how come bank want mass adoption blockchain in their working without get legal bitcoin as currency in their country, better stop always giving incorrect information. There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future '"not your keys not your coins"' or "don't trust exchanges", and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
December 11, 2019, 02:33:40 PM
People always criticize banks, especially here in a forum about cryptocurrencies, anarchism, decentralization, etc. (nothing wrong with that basically). But when they read a news saying banks from a country will be able to use BTC on behalf of the customers you're all praising it
There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future 'not your keys not your coins' or don't trust exchanges, and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
There are too much "it's wonderful news" here. I will bookmark this topic and if I see one of you saying in the future 'not your keys not your coins' or don't trust exchanges, and similar adages, I will remember you your double standard and irony.
I know you will keep saying "mass adoption" bla bla bla, which isn't a valid argument. Bitcoin has been doing well without it for a decade.
I perfectly understand your point.
I run a bitcoin full node, I HODL my coins, and I own my private keys.
But not everyone is like me (luckily, might I add).
Not everyone is ready to take the burden of financial sovereignty.
So welcome to more choices in the environment. More choice mean a more diverse audience can get introduced to bitcoin. And this is good.
One thing to remember is in fact, that this another choice adding on top of the others. This is not taking away the possibility to have your coins with you.
Can we think of the central states to ban personal detention of bitcoin (digital gold) like they did in the first place with physical gold? Sure the can (not that mean it will be effective), but this is totally a different story.
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