Topic: You Can Now Keep Your Bitcoins In A Bank - page 14. (Read 21728 times)
That is a goof news that some banks are now have blockchain system to hold bitcoin by many people who are wanting to save for long term with insurance. I am hoping that here in my country banks will start to have this kind of system i am sure that many people will be more happy if this will happen.
Yet, the risk is still there for we know that these banks could not take away the volatility of bitcoin market price. Maybe we could trust banks to hold for ou bitcoins compared to holding it with our very own digital wallet.
We need to see more update on this. I think this is great if there is truly a bank like this that promote cryptocurrency or bitcoin.
We need to see more update on this. I think this is great if there is truly a bank like this that promote cryptocurrency or bitcoin.
Really excited to heard that your bank country has announce that accepting bitcoin, but the problem is in my country, it was really hard for the country bank in here accepting bitcoin, I don't know why, maybe they just think that cryptocurrencies just usable for the crime which is not true. I really hope that my country will follow the rules as your country did.
This option is maybe good for big investors who will invest big money in crypto but they do not know how to secure those coins, this is not for ordinary people. We all know that if you do not have full control over your private keys, you do not really have that coins - so any idea of storing cryptocurrency in traditional bank is wrong in my opinion.
We can just look back at 2008 and big financial crisis which is wipe out over 10$ trillion only in USA, and the biggest culprits were the banks. To give something so sensitive as cryptocurrency to banks is beyond any common sense, even if they give you such option hold your private keys and trust no one.
We can just look back at 2008 and big financial crisis which is wipe out over 10$ trillion only in USA, and the biggest culprits were the banks. To give something so sensitive as cryptocurrency to banks is beyond any common sense, even if they give you such option hold your private keys and trust no one.
One of the ways banks and other financial institutions can take advantage of this shift is by utilizing the tokenized assets for easier management of already existing assets. For example, many have already considered its usage in stocks and commodities. As more regulatory distinctions are made clear and continued legislation addresses additional regulatory needs, you should expect to see more financial product offerings from mainstream banks which will continue to bring legitimacy to the whole industry.
I would prefer to keep my bitcoins like the Winklevoss brothers: print the private key on paper and cut it into several pieces. Then put the pieces in the cells of different banks throughout the country.
bitcoin is always developing to increase their value. I think the bitcoin ETF effort is the same, which is to attract the public to invest in bitcoin.
If it is about attracting the public to invest in bitcoin, then it is not a bad idea which I believe like you and some other people have mentioned it is just more like the idea of ETF. Well, I know one way or the other, this would probably serve some people and the good thing however in this whole thing is that we are at least beginning to see financial institutions embracing this idea and trying to see the ways they can get to benefit from it, which I believe we will get to see more of this in the long term as we start approaching mainstream adoption, no doubt!
It didn't seem too safe to me. Do we know how the bank will secure it? Or is it taking responsibility in the event of a theft?
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....
What's even worse is that when you lost your receipt, you also lost your possession to these coins. Who's insane enough to entrust cryptocurrencies in banks that are experienced in handling fiat money but not in cryptocurrencies? I'd rather trade those and keep it in my wallet all day rather than entrust it with a financial institution whose beliefs differ from what cryptocurrencies impose to its users. If the details are too vague and the terms are somewhat one-sided and in favor of the bank, why would I do such a thing in the first place?
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.
On the one hand, this helps normalizing bitcoin. If people know that you can have bitcoins in a bank, they will think it is just as any other asset you can have there: stocks, funds, gold...and they will unlink it with ideas like Ponzi, fraud, etc.
On the other hand, none of us would deposit their bitcoins in the bank because it goes against the very purpose of it and you won’t have your private keys.
I’ll keep mine in my hardware wallet.
On the other hand, none of us would deposit their bitcoins in the bank because it goes against the very purpose of it and you won’t have your private keys.
I’ll keep mine in my hardware wallet.
It can help bring in more money via more visibility but whole purpose of cryptocurrency is to keep it with yourself rather than having someone else store it for you. It can help them get more customers and I think that is their whole reason behind doing this kind of thing. Not sure if it's really a good or bad news for crypto and businesses who offer similar services to the end user.
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.
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....
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On the one hand, this helps normalizing bitcoin. If people know that you can have bitcoins in a bank, they will think it is just as any other asset you can have there: stocks, funds, gold...and they will unlink it with ideas like Ponzi, fraud, etc.
On the other hand, none of us would deposit their bitcoins in the bank because it goes against the very purpose of it and you won’t have your private keys.
I’ll keep mine in my hardware wallet.
On the other hand, none of us would deposit their bitcoins in the bank because it goes against the very purpose of it and you won’t have your private keys.
I’ll keep mine in my hardware wallet.
So it means banks want to make Bitcoin as centralized currency so they can control people assets & charge people for holding their private keys, earn money through transaction fees. Why anyone wants other or banks to hold their private keys, banks are smart they are just finding new ways to loot people. Only those people would be attracted to this offer if they are afraid of losing their private keys they would think that banks will keep their private keys safely. In the end, banks will be making huge profits by offering these services.
It's really a great news that such giants like Citi pioneers facilitating such purchases and holdings withing their bank.
However keep in mind that trusting banksters to hold your crypto for you is exactly the opposite to what bitcoin was meant to achieve.
However keep in mind that trusting banksters to hold your crypto for you is exactly the opposite to what bitcoin was meant to achieve.
It is good really if the banks are accepting the cryptocurrency ,so it will add the popularity of cryptos that it will be accepted by banks a deposit or any kind of bank transactions , it will add the goals of bitcoin and cryptos to be accepted by this finance institutions.
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