Topic: You Can Now Keep Your Bitcoins In A Bank - page 13. (Read 21728 times)

Amazing, I am greatly proud and honor that bitcoin is now accepted by most banks. It is happier if the whole world (especially in bank) would also accept bitcoin.

I still dislike the notion of "banks" in crypto. I am a person who has never gotten a single loan from any banks, I do not use credit cards and preferably if I could I would totally never even have a bank account but unfortunately I need one to cash out my bitcoins easily.

Without banks I would have to find people to pay me in cash face to face to get my bitcoins and that is just really hard to do hence I have a bank account for that purpose only. Even when I was working at a job I had a bank account so they could deposit my salary there and cashed out all my salary on the day it was paid and never used the banks.

Now, as an individual who ran away from banks and came to crypto, thinking about a "crypto bank" really disgusts me, I hate places like xapo and coinsbank and so forth, they are not doing what crypto was suppose to be about.

Amazing news i so happy that bitcoin is growing now and i hope more people will be aware about bitcoin and cryptocurrency. Let the people store there bitcoin on banks but i won't do that.

Great news! But is there a tax just like in fiat to remain still your bitcoins in their banks? and also it just like in fiat that it will grow if you put your bitcoins there?

right, we ourselves as a bank. and with a wallet we can store assets safely, provided they are used according to right steps. but on the one hand trust is also important for the development of BTC

There is also not much clarification about how the bitcoin will be held ? I mean bitcoin can be held in the private wallets or public ledger but how Citi will do it for the people ? I mean they are going to provide the digital receipt and stuff like that, however, how the holding process of bitcoin will happen. Will bitcoin be held by citi in their own hand cooked wallet ? Isn't that the question one should get in our mind before getting started with such great project. Off course this is something new and can be game changer for only big investors and billion dollar clubs who want to hold huge money in their banks. You know the stocks, bonds etc. This will be another asset in the real world now, crypto bonds I guess.

So Citibank has started to be the pioneer in the cryptocurrency section, and I think it will attract their customer to buy bitcoin and another coin. It is good news for the crypto user because we can buy bitcoin with the banks. But I wonder what the details to do these because I think for myself, it is better to save my coins in my wallet so I can take control for that coins. I think this could help new people to buy crypto with Citibank. And perhaps, this will makes the crypto grow fast in the future.

Yes it probably will. This will add the popularity for sure. We can say that more people will trust it with this kind of thing. This is a positive response, but if we look on the other side, we can say that it does not satisfy the bitcoin's characteristics in which it can stand alone and can be use without other factors.

Any bank have accepted saving bitcoin or altcoin ? Could you tell me which one bank have support for saving bitcoin or altcoin, I think bank is more againt for bitcoin and crryptocurrency.

That is pretty much what they are just after as they simply cannot imagine the way they would be able to wrap their head around the idea of losing control of the way people get to spend. I even wonder why anyone would want to make use of banks when it comes to keeping their bitcoin when most definitely it is something they can simply just put in their own wallet and maybe except for few people who may not really have the idea on how things work or will I say novice to activities revolving round the blockchain technology. I have my wallet and that is my bank, I do not need a third party to get that done.

That is the thing and it is that control they are so much after. Yeah, it is a decentralized space, but using a bank would be more like using an exchange and one way or the other, your account is always going to be tied to some form of banking policies and regulations at the end of the day. Why would I ever want to use a bank when I have tasted freedom from the bank shackles? For any sane person in this sphere, I really do not think how such persons would pretty much just stick with the mind of having to use a bank when the decentralized space gives you the chance to be your own bank.

Sounds like a good way but quite funny. And one thing you also need to know is that you don’t have as much as Bitcoin as they have. So they can do that and you can’t do it.

And by the way, they are billionaires and owns an amount of Bitcoin that is also worth billions of dollars or haven’t you heard the story? They bought $11 million worth of bitcoin in 2010 when it was being sold at $120. So those guys can do anything.

for local banks in my country no one has provided, indeed because government has not legalized bitcoin. Of course with the wallet, we feel like we have a private bank, and i feel safe if we don't make mistakes

If we keep our bitcoins in Citibank's Digital Asset Receipt thing, will we be able to generate passive income? Any kind of lending or parking profit share available in Citibank ?

    Once banks has a control your bitcoin or altcoins it is good for security reason but i think only wealthy people will use it. For me it is still better to keep my digital coins to my own digital wallet because i can manage it anytime and can use anytime if needed. We all know digital currency are very volatile. It is easy to buy and sell if you hold your coins into your very own personal digital wallets than a bank.

One way or the other these banks want control. Of what use are ETFs if banks now give some sort of paper guarantees while they hold on to the intangible? This for me is a trap and it's the wealthy individuals that might fall for it as they it would be a more secure means of acquiring some BTC

Meh.  This might appeal to institutional investors and wealthy individuals who don't want to store bitcoin in a traditional wallet, but I don't think the average person would have much use for a product like this.  It also seems to me that a bitcoin ETF would serve much the same function and would be even more accessible to the average person interested in owning bitcoin than this bank receipt thing would. 

In any case, I wouldn't be interested in buying a product from a bank that's not actually bitcoin.  If I want to own bitcoin, I'll just buy it and store it on my PC or phone--which is exactly what I do right now.  I don't need a bank keeping tabs on what I'm doing with my money more so than they already do.

We're going to see more of these kinds of things as crypto becomes more mainstream and attracts more investors.  I can understand why they might be useful to a certain population of people.  If a hedge fund wants to invest in bitcoin, it probably wants to do so with a huge amount of money.  If they were to buy it on an exchange like Coinbase, they wouldn't be able to do it without moving the market significantly.  Same goes for when they want to sell it.  And even if they bought it in a private transaction and off-blockchain, they'd still have to worry about getting hacked and they'd have to figure out a way to sell it without driving the market down.  Things like futures, ETFs, and the banking depository note mentioned in the OP article make it much easier for them to invest in bitcoin without actually having to own it like most people do.