Well, it may happen at other country but in my country, we cannot keep bitcoin in banks. In fact, what is the essence of our digital wallet if in the end we will send it to the banks? Maybe, I will save my savings on bank but not my bitcoin. I like my bitcoins stay at my wallet because there is assurance that I will get it when I want to have money.
I think some country are now accept Bitcoin to put in the bank and I think they were lucky because they cannot lose it and their Bitcoin surely is in the safe place. But I think if tthey put their money in the bank then surely they will pay a tax because bank is property of government, and once you have a lot Bitcoin then your paying tax will be higher. Since 
Topic: You Can Now Keep Your Bitcoins In A Bank - page 10. (Read 21728 times)
Well, it may happen at other country but in my country, we cannot keep bitcoin in banks. In fact, what is the essence of our digital wallet if in the end we will send it to the banks? Maybe, I will save my savings on bank but not my bitcoin. I like my bitcoins stay at my wallet because there is assurance that I will get it when I want to have money.
In my own opinion, i'd rather keep my bitcoin holdings in tact in my digital wallet or keep it on my own rather than letting others handle my digital assets. I can only trust my money to banks but not my digital assets simply because any mistake they make will lead to irreversible transaction.
finally there is a bank that are starting to open up with the development of fintech today, if Citibank will and can do that, other banks will also participate in the innovation, because they certainly don't want the bitcoin market share to be dominated by just one bank.
Keeping bitcoins in a bank. I am sure you guys do not even understand the implication of that. I am sure the target of the banks would be basically for those who actually want to be a part of bitcoin but they have no clue or are too lazy to find out how to go about opening a wallet, being their own bank, and spending their own thing, so at the end, they are again at the mercy of the banks and then all the same things with bank policies, having a third party storing your money and then having to rely on banks for the safety of your funds, and in this case, you have no control over your funds. It seems no matter how people get the chance to experience freedom; some things just would not change.
If we store the bitcoin at the bank then the anonymity of the bitcon will no longer exist, because the bank will ask for information from their customers.
Bitcoin is still now a decentralized crypto currency. If we keep our bitcoin on the bank, bank will operate it. Then bitcoin will not help us as a decentralized crypto. We can't use it with our sweet will. But for more popularity and publicity, may be bitcoin will be added on bank.
It's definitely targeted at high end institutional investors, it seems. It's really not going to be affecting the way average bitcoin users transact on a daily basis for payments for goods.
The idea of something centralized holding the bitcoins for the user has been along for a long time now and I guess this is simply a product that is geared towards big time investors, as opposed to hosted wallets which basically does the same function without the receipts but doesn't really target whales.
I would personally never be interested in this type of product simply because I'd be handing over control of my coins, and defeats the purpose of bitcoins in the first place. It could be different for speculators who believe in centralized insurance of their money and aren't actually interested in investing in bitcoin itself, however.
The idea of something centralized holding the bitcoins for the user has been along for a long time now and I guess this is simply a product that is geared towards big time investors, as opposed to hosted wallets which basically does the same function without the receipts but doesn't really target whales.
I would personally never be interested in this type of product simply because I'd be handing over control of my coins, and defeats the purpose of bitcoins in the first place. It could be different for speculators who believe in centralized insurance of their money and aren't actually interested in investing in bitcoin itself, however.
Wow! It's really good news for us! I'm interested in it. Hope it will help us to grow more. And it's a really a good news for Crypto marketers.
Maybe it is. More opportunities will come. And also it is a good thing thay bank started with this. But then it will lose some bones to the bitcoin. The characteristics will be gone. Being decentralized without the intervention of the outsider. Bank has its own way of coping to the changes.
wow, it is really good news. If it is true and we can keep our bitcoin in a bank, we don't have to worry about hackers. I think it will be safer for us to keep bitcoin in a bank.
Exactly, one day we are going to hear such type of news from the government because bitcoin will easily change the growth economic in an easy way to transfer money fastly by using blockchain. In the same way, the government will suggest the banks to hold the bitcoin in banks.
So this "receipt" is just a piece of paper and it's value is backed by bitcoin and guaranteed by some bank?
Wow,such a great innovation.Such receipts already exist and they are called fiat money(the only difference is that they aren't backed by anything).
I guess that Citibank will try to file a patent about this shit....
Wow,such a great innovation.Such receipts already exist and they are called fiat money(the only difference is that they aren't backed by anything).
I guess that Citibank will try to file a patent about this shit....
Sarcasm at its best. I like that.
These guys behind this want to fool unknowledgeable people and they're actually looking for that. This whole thing is ridiculous and hopefully no one gets on the trap.
We don't need banks for storing our bitcoin, why people keep on trying to centralized bitcoin? It's honestly and obviously bitcoin is better off this way. No need of fuckin banks.
Exactly my thought, why do we need third trusted party. Cryptocurrency is made to free us from any control even the government. The only thing about this news is that Crypto community is getting recognized but the idea with the intervention of banks is not at all the goodl idea of satoshi nakamoto. We can keep coin without third party, we simply need an opensource wallet (Hodler wallet) and then that's it, we already have the full control over our funds. Whatever reason why banks are doing this, hopefully its for the good of the community.
When have bank want to accepted bitcoin or altcoin for saving I think is become more revolution for bitcoin member, we will be easy for investment with bitcoin where we can take many advantage by saving money in the bank by using bitcoin.
Are you for real now ?Considering the option of saving in the bank, means I do not actually understand the freedom that bitcoin brings. In this case, the way things are going to be with banks is having a centralized entity holding your decentralized bitcoin, which totally makes your bitcoin somehow centralized as far as I am concerned.
We all have the chance to be our own banks, make our spending decisions, spend whatever amount we want to spend, but it just seems a lot of people do not just get the fact that giving the banks the key to all you have, is more like still staying in fiat eventually, when they could just come up with a policy one day to affect your savings.
Does this tool have the same impact as taking an ETF? I understand that DAR will be used only within the framework of the USA legislation and only residents of this country will be able to use this tool, but I believe that this will be able to increase the demand for Bitcoin. It would be good for Bitcoin to have such a tool accepted in different countries.
I think that the emergence of a tool such as DAR issued by Citigroup can really change the attitude of people towards Bitcoin, since the recognition of the Bank will be a guarantee that Bitcoin can be trusted. Because still many people trust banks, and the confidence in cryptocurrency is now at a fairly low level. The emergence of this tool will be able to positively affect the price of Bitcoin.
wow, it is really good news. If it is true and we can keep our bitcoin in a bank, we don't have to worry about hackers. I think it will be safer for us to keep bitcoin in a bank.
Good news for Bitcoin. If this financial instrument works, then investors will have a new investment instrument, banks will stop fighting with Bitcoin and start making money on it, and Bitcoin will reach a new level and its price will start to grow. We will follow the further news of Citigroup.
By implementing these DARs, they will again become the thirt party. Since banks are considered trustable, many people would keep their cryptos on bank accounts. On the other hand, it is good really if the banks are accepting the cryptocurrency.
But why banks needs to support crypto currencies because bitcoin was created to stop the centralized payment system so they are supporting to destroy themselves?I don't think there is need for us to store our coins in banks wallet when we have lot of wallets available to us.
When we send money to the bank, it means that we give the bitcoin control to the bank, which then loses the decentralization of the bitcoin. You can also manage and control your bitcoin yourself in your wallet without having to provide any information to a third party.
Well, it is good that banks are now accepting bitcoin for deposits. But I'd rather to stay or hold my bitcoin in my ewallet to avoid discrepancies like bankruptcy. I feel much secure if I have it in my ewallet.
By implementing these DARs, they will again become the thirt party. Since banks are considered trustable, many people would keep their cryptos on bank accounts. On the other hand, it is good really if the banks are accepting the cryptocurrency.
But why banks needs to support crypto currencies because bitcoin was created to stop the centralized payment system so they are supporting to destroy themselves?I don't think there is need for us to store our coins in banks wallet when we have lot of wallets available to us.
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