Will banks ever offer bitcoin deposits? - page 69.

denzkilim

full member

Activity: 1218

Merit: 105

Quote from: Jaemouns on June 05, 2018, 07:12:00 PM

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Actually I dont think so , because banks consider bitcoin a strong competetor . Bitcoin also is so risky than other currencies.

Banks are not against crypto currencies but they are against the volatility issues of crypto currencies, We all know that Bitcoin and other forms of crypto currencies are decentralized and no one controls this and the price or value of crypto currencies can easily go sky high or fall into a cliff. This is one of the major reason why Banks won't accept Bitcoin or crypto currencies. Technology always have advantages and also disadvantages and that's part of innovation, even Bitcoin have this kind of disadvantage it still over takes it and more people are getting curious about this monetary innovation every year. The crypto currency community continues to grow and no one can stop this because this is the future! The Future of our monetary system. Cool

johnlhy253

newbie

Activity: 32

Merit: 0

Quote from: Ashong Salonga on April 26, 2018, 11:45:20 AM

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Every business needs to adapt to changes and challenges like this. Im pretty sure banks are already finding ways to join the bandwagon.they will surely profit from it. It would just be a matter of time until they accept bitcoin deposit and withdrawals.

Yeah, every business needs to adapt the changes for them to stay in business sector. Like here in our country, Philippines, there are a lot of business accepts bitcoin as payment.

cutecute

full member

Activity: 378

Merit: 100

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

I think that will never be happened. Bank will never offer bitcoin deposits because we all know that there's a chance that bitcoin will make are bank disappear. Our good vernment hates bitcoin because bitcoin doesn't have tax and our bank is controlled by our government so it will not happened.

Jaemouns

member

Activity: 274

Merit: 10

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Actually I dont think so , because banks consider bitcoin a strong competetor . Bitcoin also is so risky than other currencies.

waqasanwar95

newbie

Activity: 56

Merit: 0

its very hard to said that bank ever accept deposits through bitcoin but is should be happen chance was 50/50

Lorna111

member

Activity: 280

Merit: 11

Quote from: semes on April 26, 2018, 02:23:53 PM

I have read a news on this topic today. It's about some financial institutions working on crypto money investment in the US. I do not know the source of the news and the truth. But I think that in a very short period of time (within a few years), the banks will certainly be able to handle this. Otherwise it is not possible. There is an economic value in the middle. Bitcoin and some coins are already a big competitor to the banking sector. If the crypto money sector does not go to cooperate with the banks, we may not see the banking sector that we know today. Because many projects offer much more than banks promises, much simpler. All you need is internet and a PC.

I think Bank will only accept Deposit on solid/physical currency investment, its a bit more complicated for a bank to accept Digital currency, often time, we encounters some imposed requirement from the bank like Solid Documents, with out such requirement complied, bank can always deny our supposed deposit. maybe time will come, if the issue on Regulation is resolved by the financial institution and together with the Banking institution, maybe it will be time that we can see banks opening their door for Bicoin deposit.

iyan33

sr. member

Activity: 434

Merit: 250

I think it depends on each country, if in case the country supports the blockchain and cryptocurrency system that allows the sale of bitcoin they will offer bitcoin deposit even though it is risky because they are not afraid to offer it because it is supported by the government of the country, but if a countries that do not allow bitcoin, surely the bank will not allow it

Bohxz M4p4gm4h4l25

full member

Activity: 339

Merit: 120

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Maybe on the near future that event is possible to come because on the rise of the crytocurrency usage, the demand among the people rises and so many establishments are already adapting the usage of cryptocurrency in terms of payment purposes. For sure with that moment that the majority of the establishments are up into adapting the usage of cryptocurrency, maybe it will turn out that banks will be the last to do adaptation wherein they will offer Bitcoin services to suit the needs and the demands of its consumers.

Chicryptomama

newbie

Activity: 182

Merit: 0

It sure will take time and an entirely new banking infrastructure. It also depends on the country. If you are based in a country that still treats cryptocurrencies with so much suspicion,then theres a possibility that that country may find it's adoption pretty difficult.

macartem

sr. member

Activity: 676

Merit: 319

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

This can also bring big losses to banks. Because if the exchange rate soars very much, then many banks can completely break off(.

anam17

newbie

Activity: 168

Merit: 0

I think trending move of these generation is cryptocurrency and Btc is the king of all, sure in the few years to come, to remain relevant Banks will have to choice than to start offering Btc transaction which will include BTC deposits, saving, and lending platform.

Similificator

sr. member

Activity: 882

Merit: 403

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Banks and bitcoins just can go the same ways in my opinion which is why I think this will be pretty impossible to happen. They have very opposite ideologies, they are like water and oil. Bitcoins push for decentralization and giving back the control to the people while banks pushes for full control and centralization. While there are lots of pros and cons on both banks and bitcoins, I just cannot see a future where both can become one or bitcoin being accepted by a bank(unless bitcoin users agrees to forget the main ideology of bitcoins).

nikola22

full member

Activity: 1316

Merit: 105

I don't think that traditional banks will deal with bitcoin but we shall see other services that can offer some kind of deposits in bitcoin or any other cryptocurrency.

Haliburton

full member

Activity: 502

Merit: 118

Liberated Forever. Domesticated Never.

Quote from: KingOfWinterfell01 on June 05, 2018, 11:23:58 AM

If that happens, then what's the investment purpose of bitcoins if we let the banks do it for us. Sounds familiar? Yes, because that's what we do with fiat money. We give them our money so they can invest it for themselves and give us profit on a tear drop scale.

It seems that you have a good point here, my friend. If we let banks take control of our own Bitcoin, then wouldn't that defeat the whole purpose of cryptocurrencies? Bitcoin was designed to let people gain control over their own money by simply eliminating the middleman. And if we trust another entity over our money, then it would be the same as fiat currency.

Therefore, while the idea of Bitcoin deposits sounds good in the sense that you'll be able to multiply your capital in the future, it has its risks where you could easily lose control of your hard-earned Bitcoin simply because the bank would have the private key under its control. Maybe sometime in the future, we would experience a service where we control the private keys, while we earn interests from our Bitcoin deposits over time. But until that happens, it would be safe to just hold onto our Bitcoin and watch our profits grow as the price rises to the moon. Wink

Punisherx100

member

Activity: 122

Merit: 23

Quote from: Ashong Salonga on April 26, 2018, 11:45:20 AM

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

Every business needs to adapt to changes and challenges like this. Im pretty sure banks are already finding ways to join the bandwagon.they will surely profit from it. It would just be a matter of time until they accept bitcoin deposit and withdrawals.

i don't think so because banks see bitcoin as their competitor i guess, but no one knows right maybe after a decade they will accept bitcoin all over the world.

Aing

newbie

Activity: 168

Merit: 0

Quote from: jademacoy on June 05, 2018, 10:56:57 AM

Well it could depend on the bank institution if they are going to approve with the use of bitcoin as another kind of investment that will add up with their offer. But in my opinion these banks will never accept bitcoin because bitcoin is not yet fully accepted by the government and it will compromise on their rules and regulations signed up with them and submitted to the government agency concern. And for sure bitcoin is not stated on that agreement hence bitcoin will not be introduced by most of the banks. Realtalk!

Well I don't think so. You may forget the one thing that some countries have legalized bitcoin, so it would be fine if later in the bank there would be something like bitcoin deposit. We talk about what if, so what in my mind is how banks will allocate the profits from deposits while bitcoin is something that stability itself, we can't expect.

Maxre

full member

Activity: 812

Merit: 120

https://combonetwork.io/

I think the risk taken is too big because the bank is not government money or individual money but the money of many people.
so it's not good to use other people's money without his knowledge to invest in bitcoins whose value can not be guessed.
so that's what I thought would never happen.

btcCoincart

newbie

Activity: 308

Merit: 0

They are working on it now, that's why you can buy bitcoin with you credit card. In near future we will have more than that!

KingOfWinterfell01

full member

Activity: 504

Merit: 100

Quote from: shield132 on April 26, 2018, 11:20:04 AM

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

If that happens, then what's the investment purpose of bitcoins if we let the banks do it for us. Sounds familiar? Yes, because that's what we do with fiat money. We give them our money so they can invest it for themselves and give us profit on a tear drop scale.

surfinonmyownwavebaby

full member

Activity: 252

Merit: 104

Decentralized Ecosystem for User-Generated Content

I believe that yes one day most if not all banks will offer this service and this is because I believe one of them will offer the service. At first it may look gimmicky or as a novelty but after a while banks will realize we acquire more customers this way, why not do it? As long as it is profitable for them to do (with fractional reserve lending it always is) they will do it.

Topic: Will banks ever offer bitcoin deposits? - page 69. (Read 6362 times)