[POLL] Would you open a Bitcoin account at your local bank? - page 3.

sportis

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Quote from: terrate on January 19, 2017, 03:19:23 AM

yes if FDIC insured.

because very convenient. My country difficult to get bitcoin and exchange.

The way I see it is like saying to put the wolf to guard the sheep. So using my bank I cannot understand what benefits for me to have an account of bitcoins and not an account of strong fiat currency. Moreover I cannot understand the convenience. I really believe is better to keep bitcoin in my desktop wallet and If I want to buy some coins to use sepa?

diegz

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Quote from: agatha818 on January 19, 2017, 04:59:56 AM

no sir, i think my bitcoins are safer in my wallet, i don,t really trust the bank, i like the privacy, and my bitcoins are secured in my computer and wallet.

Actually it's your preference. If you are comfortable keeping your bitcoin in your desktop then that's fine. But lets not forget what the banks did to fiat and the economy. So probably when bitcoin is in banks, it might grow fast (not the value or ROI) but the adoption.

Quote from: lienfaye on January 19, 2017, 05:14:06 AM

Im contented with my wallet account so there is no need. for me its a hassle to go to bank just to deposit or inquire. and our local btc wallet is also connected to our bank account so its very easy to cash in and cash out.

We can inquire on banks thru online. Most of them has online supports and been posted in their website. When it comes to hassle, well, banks could release ATM's so you won't go at them each time you want to withdraw. There will always be a way to make things more convenient.

hl5460

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lienfaye

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Im contented with my wallet account so there is no need. for me its a hassle to go to bank just to deposit or inquire. and our local btc wallet is also connected to our bank account so its very easy to cash in and cash out.

agatha818

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no sir, i think my bitcoins are safer in my wallet, i don,t really trust the bank, i like the privacy, and my bitcoins are secured in my computer and wallet.

Mr. Big

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Quote from: ASHLIUSZ on January 19, 2017, 03:14:26 AM

Opening a bitcoin account into a banks looks similar to that opening a bank account.

Coz that is what OP asks...We are asked if we are willing to open a bitcoin account in a local bank... Most probably it is already considered a bank account..

Quote from: ASHLIUSZ on January 19, 2017, 03:14:26 AM

However we consider to be our own bank, we will be controlled by some authority.

Well, that is one of the consequence that we will have to think about when we do apply for a bitcoin account in a bank, they hold your bitcoin....

Quote from: ASHLIUSZ on January 19, 2017, 03:14:26 AM

For this reason there is no need for an bank to help us create accounts and help in transaction and other necessary functionalities.

Well, who knows, they might be offering something that could be very favorable to us...

Anyway, as for my opinion, I'll go for a bitcoin account in a bank, provided that it is secured and insured... Actually it is a great help to us since we will not be worrying about our bitcoin in our desktop and probably give us a good night sleep without checking if our PC for spies... Who knows, bank might offer us what they are offering to their fiat depositors... Cheesy

I think one of my condition before transferring my bitcoin to theirs is they should not ask my name or any information about me aside from my signed message and theirs... No asking of where my funds came from or even asking where I am using it... Grin

bitloud

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I use bitcoins because I don't want to be controlled by bank, declare my bitcoin funds, pay taxes for it. Bitcoin in banks is something against idea of bitcoin.

terrate

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yes if FDIC insured.

because very convenient. My country difficult to get bitcoin and exchange.

ASHLIUSZ

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Opening a bitcoin account into a banks looks similar to that opening a bank account. However we consider to be our own bank, we will be controlled by some authority. For this reason there is no need for an bank to help us create accounts and help in transaction and other necessary functionalities.

Omega Weapon

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Quote from: RealEstCoin on November 07, 2016, 06:59:53 PM

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Of course not, that will only contribute to help banks to monitor us and other bitcoin users by allowing them to store your coins and I will add doing that is completely opposite to what bitcoin is about.

housebtc

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The result of the poll shows for itself, over 60% say NO, with bank nothing is free, what they will be looking for is to have total control of your Bitcoin also the KYC and AML policy will make it difficult to do some transactions

avikz

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Firstly, no local bank accepts bitcoin in my area as a deposit. They just don't have any idea about what bitcoin is. So for me there is no chance that I will be able to open a bitcoin account with my local bank.

However, given a chance, I would not go with it. because, bitcoin is still not accepted in my country and the government is still not giving a shit about it. Hence it is always better to use bitcoin through an offline wallet or online wallet. At least I will not be taxed until I choose to convert it into fiat.

Karpeles

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Why not, if the fees are fair?

Would not be worse than use an exchange

Exchanges still are riskier than banks

Also we don't have to put everything on banks

The Sceptical Chymist

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No. If I had millions of dollars in bitcoin I might look to insure it somehow, or hedge against loss, but I wouldn't need a bank to store it. And I certainly don't have nearly enough to worry about doing either of those things. My mycelium wallet is just fine, thank you. No banks required!

philiveyjr

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Private banks might get involved into it but I dont see it becoming a success. Why would you put your BTC in a bank in the first place? May b for the interests and interest rates. If it is secure then I might give it a shot but there's a long way for that to happen. I dont see any banks showing interest as of yet. They might take a couple of years for BTC to become mainstream and then there might be this possibility.

Ipwich

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Quote from: mrkevio on December 25, 2016, 04:35:31 AM

I wouldn't. Why would I open an account at a bank when that destroys the best feature of Bitcoin (anonymity)? If banks will want to do that, they'll want control over Bitcoin too. That would mean you would have your own real name on that account, you will have every transaction tracked. After one bank would do that, be sure other ones will follow the same path.

I agree with you,why make hussle?I don't think it make sense the connection of banks with bitcoin,banks will maybe take advantage on how to control over bitcoin.And perhaps at that time the reliability on how bitcoin works to mostly anonymous members will be traced.So for me better to keep it this way,easy transaction without any hussle to anyone to do their own business.

mrkevio

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I wouldn't. Why would I open an account at a bank when that destroys the best feature of Bitcoin (anonymity)? If banks will want to do that, they'll want control over Bitcoin too. That would mean you would have your own real name on that account, you will have every transaction tracked. After one bank would do that, be sure other ones will follow the same path.

Zadicar

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Quote from: Wind_FURY on November 17, 2016, 01:12:55 AM

Quote from: RealEstCoin on November 07, 2016, 06:59:53 PM

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Why should I open a "Bitcoin account" with a bank? So that they could use my coins and do with it whatever they want? Do you think it is safe for you to "save" your money in the bank? The money you store with them is essentially in their control and in some cases they can even freeze your accounts and there is nothing you can do about it.

This is the possible consequence or scenario that would possibly happen if you decide to put your bitcoin on a bank and you are right bank will definitely use those bitcoins for other business purposes and also why we would bother to put our bitcoin on banks since there are lots of wallets to use and besides we do have the full control on our money unlike in putting it to banks.

bryant.coleman

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Why not? A bank account through which we can trade and store our coins offers a lot of advantage. I'll immediately open one, if my bank has such an option. It will be quite convenient and safe. But I will never store any significant amount of coins in that account, and I'll transfer coins only when I need to exchange them for fiat.

MingLee

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It depends on what I would be getting out of it, but I would not be against the idea of opening up a Bitcoin bank to be honest.

It all comes down to the features offered and all the things I would be able to get out of it. For most people, there simply wouldn't be a reason to open one (mostly because at this stage not many people use it), but it all comes down to what the bank can offer.

Topic: [POLL] Would you open a Bitcoin account at your local bank? - page 3. (Read 5246 times)