Topic: [POLL] Would you open a Bitcoin account at your local bank? - page 5. (Read 5246 times)

No, that just destroys the point of using bitcoin. As you said yourself it would take away the anonymity which is one of the most popular reason why people use bitcoin, but more than it I don't want someone else to have control over my bitcoin yes it will be secure and all like Fiat is in bank but it would become more vulnerable a hacker would certainly look for hacking a bank than a person bitcoin wallet. 

I will never gonna trust my banks with my bitcoin as they will be in full control of all my bitcoins in those bank's bitcoin account (if they have any in future). They can easily send, block, empty all bitcoins in time of investigation or if they got hacked. Banks are known for all the shady works behind the scene.

i would not open a bitcoin account at my local bank because it needs my details id for verification and beside that i already have a bank account for saving fiat so i think i don't have to open another account to save my bitcoin better i save it in my private wallet. bitcoin is about anonymous and every person have the right to choose what they want and can not be push by any other company or governments.

I have voted for maybe because it is sure that i will not be as comfortable as i am storing my bitcoins in any local banks rather than in hardware or paper wallets. So on some occassion if i need to purchase or exchange small amount of bitcoin i will open a bitcoin account but will not use it to store my larger sum of bitcoin.

No. I am happy that I have nearly 50% of my total wealth stored in Bitcoin, and thus outside the banking system. Whatever reward the bank will be offering me to store my coins there, I will never accept it. I rather don't gain anything, but have my coins under my own control, than earning a certain amount of interest, and me having to trust a third party with my coins. NEVER! Only empty headed people will see value in such an initiative from the bank. They are basically selling the biggest value that Bitcoin can offer them for a fake sense of security that banks offer, and also a shitty interest rate. Bitcoin gives them the option to enjoy financial freedom, but some noobs are dumb enough put this chance to waste.


I like that one.

I go for maybe option.I guess if i have lots of bitcoin and if it is legalized in my country, I would be happy to keep my bitcoins in Bank.Anonymity is not an issue for me as I dont have anything to hide

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You have just accepted an IOU from the bank which states you "have" that many Bitcoins on account at the bank.

You can now write checks on that amount which other people can accept as payment.  Is a Bitcoin check in the amount of 1.2345 BTC to someone actually Bitcoins?  The answer is no it is not. It is a promise to pay the bearer Bitcoins.  You have just recreated the use and acceptance of debt as money.

Not only that you have just lent your Bitcoins to an entity (bank) whose entire purpose is to lend out your Bitcoins to someone else and make a profit.  Their entire purpose is to recreate the fractional reserve banking system.  Their entire purpose is to gamble with the Bitcoins you just lent them.  They have no choice.  It is their business model.

The second people start lending their Bitcoins to banks they have recreated the fractional reserve banking system.

The answer from anyone who really understands Bitcoins, loves Bitcoins, what they represent, why they exist, should not simply be "no I will not lend my Bitcoins to a bank in order to reproduce the fractional reserve banking system".  It should be:


Having said all that, it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins.  This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves - and most people are sheep being lead to the slaughter.

The difference with Bitcoin is that you can choose not to participate in their scheme to rape you.

For examples of sheep being led to the slaughter and/or asking to be raped again just read the next post and the many more before that and after that from clueless ignorant fools who do not even bother to read this thread or think before posting:

If the local bank received bitcoin sure I believe it will incur additional costs, and possibly the use of bitcoin will be constrained by the bank. So

if that happens I might not make it, because bitcoin is already well only with the wallet. Bitcoin wallet store use has been very good in my

opinion because we can organize and manage our bitcoin without interference by other parties.

Definitely no, since I wouldn't like to lose control over my funds and you'd probably have to pay fees to open an account.
I just don't see any benefits to it.

This thread almost perfectly separates the people who know and love what Bitcoin is and more importantly what Bitcoin can do for the cause of true economic freedom and privacy from those that are just ignorant immature sheep who fear freedom, fear taking control and responsibility for their own lives, fear privacy and through their own ignorance and fear will bend over and take it up the ass from the bank/government fractional reserve fiat monopoly money cartel again.

Ignorant sheep who state they will happily exchange their personal responsibility, privacy and true economic freedom for the illusion of security, the fantasy of gain through interest and/or the lie of "more convenience":


Bitcoin savvy freedom, privacy and responsibility loving intelligent individuals:

I have casted my vote in favour of yes because I think banks can push bitcoin technology on next level which would take tremendous efforts for us as a community. I am not saying banks should control whole bitcoin technology but I would have no problem if some of my bitcoins are regulated by banks. I won’t mind if there is any breach in anonymity because I know I am not doing anything illegal and thus no issue if banks are giving my information to government.

lol, of course I would never do that. I think we already have savings fiat in the bank. then why should create an bitcoin account at the bank? This obviously will change the difference between bitcoin and bank. bitcoin comes with having a lot more benefits than banks. so that people could certainly make another choice when banks have problems. such as the case of Greece, the bank went bankrupt and they try to move to bitcoin.

yes. i would open but for small amounts like monthly overheads. it is already existing. however this bitconmania across internet has it s own misteries. it is just a business and not real currency. if it is so safefty as the fake japanesse says why there is such a risk for funds being stolen
 in fact in digital currency if they really want yhen each bitcoin has a serial number like real money have and can track all history where it cames and goes to. it s impossible that this has been forgotten unless the creators wants mess... bank will give more ideas ...

I say no because you can already have a bank account with fiat, then why would I want a bank account with bitcoin? the whole point of bitcoin is being your own bank and not needing third parties. If I need to interact within the traditional banking system, I can use fiat already, so I don't see a point in mixing both worlds.

I wouldn't do this in any circumstance, it defeats the purpose of Bitcoin.

This under b, if my coins are insured sounds tempting, but I vote for sure NO. Like always they are just trying to trick us to go to them and open account. They will offer this and that, but when you ask there, they alsways do one thing " Yes sir, but you have that only if.... and plus there is small font, did you saw what is written there, sir".
I would not open account in my local bank, I will go with other channels if its possible. This would be my last option, if they just blackmail me somehow, to tell me that I can`t live and work, get salary, buy food without this account in my local bank then I would open it, but just in that case.

In my opinion why should we need bank account to access bitcoin. Simple make a blockchain wallet that it. There is no need for going under lot of process and waiting in long que in banks.
In blockchain wallet simple keep the wallet id and password remember or write wherever  that's it you don't need anything else to access your bitcoin account and even blockchain wallet have Android and ios app too so it's another positive point.

I think open a bitcoin account in banks because official nationalised banks don't do any scam. They need only money and they know that it could be earned only with trust. So i  they will not scam us like other websites. And never trust any website to have a wallet our bitcoin account through 3rd party website trust only centralized and nationalised institutions in term of money.

I think having bitcoin account in banks will be secure if the banks are nationalised because they have name and fame and they can't chat us easily because if they check then they will lose their trust and people Will stop using their banks. But since bitcoin is decentralized and  still government had not well accepted the coin so that's the problem.

Sorry I trust only blockchain wallet  Because it's the most secure wallet because bitcoin relays on blockchain. I know when banks will come in bitcoin then definitely there will be more possibility of scam because then many user will open bank account of bitcoin and they will suck our money like juice