Bitcoin Forum

Importent news from Swizerland,maybe you will say nothing at all,but first step to establish crypto bank has been done http://www.coindesk.com/bitcoin-xapo-swiss-finance-regulator/ (http://www.coindesk.com/bitcoin-xapo-swiss-finance-regulator/)

And something big from China

http://www.coindesk.com/bitfury-to-expand-footprint-in-china-following-30-million-deal/ (http://www.coindesk.com/bitfury-to-expand-footprint-in-china-following-30-million-deal/)

will we be able to make secret accounts with bitcoin, like the people that want to hide dirty money always do in the movies?

As much I hate bitcoin's bank idea and I think is contradictionary to reasons bitcoin was created in the first place.
But at the same time creation of official institution, especially in Switzerland - regarded for their secure banking sector, will help will help bitcoin in the long run.
It will be awesome promotion of BTC and maybe it will change the mind of some undecided bystanders - pushing adoption further.   

This period is over in Switzerland since years. You can't even open a bank account if you have nothing related to the country (citizenship, business,ect)
While they have good customer privacy policies they are very carefull with the fraud and where the money come from ect. Since the scandal with banks from others countries years ago


I am not surprised from Switzerland giving approval to establish crypto bank . Ths country is very smart when it's about money  :P

It is a conditional approval. That mean they will stil need to satisfy those people on what else they can do or better. That is way of hugh leap but if this goes well then it might be good. I dont like connecting with banks but this one is known for the best privacy ever and security.

I believe there are still a lot of requirements that they need to pass in order for Xapo to start their operations in Switzerland. That might take a while but it is good to see that we are seeing news like this almost everyday. With regard to Bitfury's expansion in China, it is another great development because the support for the blockchain technology keeps growing by the day. More companies are seeing the advantages being offered by blockchain.

No one will force you to use it. It will be an experiment anyway. Hardcore bitcoin enthusiasts, people with libertarian background won't taint themselves with bitcoin's banks in the first place.
For everybody else's it will be a sign that bitcoin is growing, is legit financial asset and can be trusted, since banks accept it.

Yes, it is good to see that many companies and various institutions have found that blockchain technology is quite revolutionary in nature and they are stepping up to see how it can be effectively used to cut cost and improve efficiency. Both the news articles are promising and in future blockchain will play an important role in our day to day life.   

The deal looks interesting, but nothing is certain. The authorities haven't disapproved it, but the Chinese exchanges also were approved at first and then almost shut down in 2014. Now, 2 years later they are investigated again, so the government never sleeps and can quickly change attitude. I hope it will be a basis for many more similar projects in Europe.

Me to if that happens the Bitcoin price is will be controllable by the bank companies.But it very great achievement if some bank accepted Bitcoin.But they are some advantages and disadvantages of it.

Idiots, idiots every where :D what did I just read? an organization from Swiss wants to do what exactly? any help here? are they going to accept bitcoin as a currency and allow deposit under their security and insurance? I need to know the fees first thank you.

Bitfury expands? well good for them I hope they choke doing so :) we don't need few miners to expand that will undermine the small miners efforts.

World bank is involved? rip bitcoin you were a good friend for me.

This is another good news. Good news keep popping out for bitcoin, this is just a sign that we could expect another increase in the bitcoins price in the coming days. It would be best to hold some of our bitcoins so we can profit more from the upcoming tremendous increase in bitcoin. Switzerland has a huge population and even 1/4 of that population engage in bitcoin then we know already what is ahead of us.

That seems to be a great step in bitcoin progress.As we know, regarding huge money transactions and investments, Switzerland has a unique place for itself.Now Xapo has been given conditional approval by swiss finance regulator.Switzerland has realized that block chain related companies cannot be further avoided.Bitfury has entered the world biggest bitcoin miners ecosystem.Both the news above show there is a very big future for blockchain related and service providing industries.

It's good news for crypto enthusiasts because Bitcoin bank can really enhance its usage and promote safety as Switzerland is noted for such safety and security traits. It will allow companies to store up more bitcoins but in a way it will also promote the negative usage of bitcoins through drug barons and money laundering which we must find a way to curtail.

Its actually something to be happy about and its a new one in the right direction even after the various negative news being spread all over that we can still get a good news is something to really be joyous about. But the issue here is the news is coming from Switzerland in which I am far away from at the same time as China as I am not left with only to benefit from the indirect benefit this development might bring...

So their plan has already implemented and this is a good move for Switzerland they are considering now bitcoin. And as a first world country for sure those third world countries will do the same and make them realize that bitcoin is a good way to use it for their transactions. This is going to have a big impact in bitcoin economy nowadays.

i think is very good if next time xapo can open bank with regulation switzerland
but another wallet service, debitcard service, bank service, is not complete if not open market exchanger

Swiss people have always been inovative when it com to banking sector so this doesn't surprise me. They have recgonized the Bitcoin potential and want to make the maximum out it. This will be good for both, Switzerland and Bitcoin users. So, it's very good news, waitnig for further development.

Switzerland's involvement in Bitcoin banking is a big plus as we are aware of what they can do interms of banking and it will be a great advantage to store up bitcoins over there and will be well protected but I'm cautioning likewise against money laundering and illegal usage of bitcoins so they must employ security precautions to stop those who might attempt to use it illegally.

I think Switzerland do not compulsory require everything related to their country but if a person have a business they also are able to open a bank account in Switzerland as I have heard a number of politicians from different countries especially from the countries of third world are having their accounts in switzerland and are keeping their money in there without having anything related to switzerland but only their businesses.

It is far from crypto bank but I think it is a positive step towards a legal recognition. It seems that political and economic climate in Swiss is positive towards Bitcoin acceptance. If I'm not wrong you can pay bills with Bitcoin in some of Swiss municipalities? We'll see what happens next, as it is stated in the article that:

 

I have seen a lot of news regarding bitcoin planning to expand, accepted, etc. What we need about the implementation, not just some plans which I know are not easy to get it done.

I didn't see about "accept bitcoin", it's about : "Bitcoin wallet company Xapo announced today that it has received an early nod of approval from a key Swiss regulator. ~ that it has been given “conditional approval” from the Swiss Financial Market Supervisory Authority (FINMA) to do business in the European country. to do business in the European. Moreover, it's just conditional approval.

I have posted previously article about bitcoin in Switzerland.Switzerland companys have got permision from SNB to invest in bitcoin,blockchain start ups.Swizterland will be now biggest European bitcoin blockchain hube
Best is that there are some chances that SNB will accept bitcoin.Already there is possible to pay with btc in some cantons.I will try to find that old article and i will add here

Personally I am not surprised with the attitude that keeps Switzerland in bitcoin. Just think that there is a small municipality in the town Zug where the residents can pay from July 2016 for public services with bitcoin until the corresponding 200 Swiss francs. https://www.engadget.com/2016/05/08/swiss-town-accepts-bitcoin/. Moreover many growing bitcoin or blockchain start-ups they want to establish their businesses in Switzerland. It is not accidental that an area of 30 kilometers from Zurich to Zug is called crypto valley like as the Silicon Valley in California.

Cryptobank ? well i guess bitcoin was made to eradicate the idea of bitcoin .on the other hand switzerland is giving permission for creating a crypto bank .well i dont think it wont be any new ,because all the rich people save their money in here in swiss , on the other hand with the advancement of crypto currency , there will always the increase of black money kept in the crypto bank.

Let us not say that in advance not until that bitcoin bank has already been established. The articles stated that XAPO could not operate in other European countries does not mean that the next step is a cryptobank, it has no direct connection. Given the situation of cryptocurrencies today establishing a bitcoin bank or a cryptobank is very unrealistic but in the far future it could be possible.

The international governments are going to stop this from happening, a crypto currency bank Ian bad news for the economy and will be used for money laundering and a whole lots of other criminal enterprises, let's see how the game respond to this.

Im very happy that some people really want to implement some cryptocurrency as a regular payment method, that is something we need to see all over the world now.
It may lead us to more and more countries accepting bitcoin, and maybe even more merchants will adopt it as another option to make a payment for their products.

I dont like anyway the idea that the Ticincoin will be available only in Ticino, that make it useless for the most of the cryptocurrency community.
On the other hand, I can understand that rule, because they don't want to see someone making speculations on this token, which might turn out as a better option for them.

The problem with bitcoinist is that their want bitcoin to be forever be anonymous or like secret account. If bitcoin or crytocurrencies ideal should be adopted worldwide then transactions must be transparent and all information about owner of bitcoin should be revealed to governments regulations bodies.

Oh god!!!

Right now I see people cheering for a bank.
Really great!

In two years banks will be good, after a decade all the forum will agree that is better to leave the mining and all the nodes to the government because they are the ones who should do these things.

Remember!
The bitcoins that are not in your personal wallet are not your bitcoins.

Well, I read that Bitcoin does not reside in our personal wallet,  the only thing we have in our wallet is the access key (private key) to that Bitcoin Address that holds our Bitcoin.  

---

I also do not agree with Bitcoin Bank, it simply defeat the purpose of Bitcoin, and the reason why Bitcoin was created, to stay away from centralized form of governance and yet people are into this kind of system, funny isn't it?  Creating central authority within decentralized system, how ironic  :-\

I do not trust any banks and therefore it doesn't concern me, but the fact that the establishment of such a Bank is another step towards legalizing bitcoin is a good thing. To use the services of the Bank or not it already everyone decides for himself.

tomato, tomato , potato

You wallet has a set of private keys when you and only you are in possession of those keys it means you're controlling all the bitcoins that are currently in those addresses.

If I would go your way you really don't have a wallet on your computer, you have a set of numbers that only read by an bitcoin client become private keys.

Those people in Switzerland know something good when they see it, they know that bitcoin is going to be a very strong currency in the future and they are putting the seeds to create a bank for something that is becoming an international success.

as long as i live, i will never understand what the enthusiasm for a "bitcoin bank" is all about. i mean i can get why we use banks, we all do and they are useful. but for bitcoin, it is meaningless in my opinion. bitcoin is there so that you don't need a bank! then people go ahead and look for a bank. if you want bank then use fiat why do you bother with bitcoin.

While there are many (probably most) Bitcoin users that are using BTC especially for the anonymity, I guess there are some people using it as a store of value too. We've all seen how big Bitcoin went throughout these years..

The world is heading towards virtual stuff too anyways, so not a big surprise. No matter if it's BTC, PayPal or an online banking account.. the real, physical world of money will probably cease to exist pretty soon. It'll be replaced by the more-comfortable  virtual one. It's going to be just a number there, and that's it. For people using Bitcoin as a store of value, banks could be better.

then why not just use monero?

And what is the point of the bank in this tale you're talking about?
0,nada, nothing

You lose all your anonymity when you deposit your bitcoins in the bank, you can safely store it's value in your own wallet, why would you store something of value with a 3rd party?

So you can lose it easier?

Hahaha maybe you will lose your anonymity this way but for investors as well as speculators this is a positive sign since having a crypto currency bank I think will make bigger companies trust crypto currencies making them invest in it. It will add a great deal of demand in bitcoin as well as altcoins which means there will be more price movements and transaction volumes in the crypto world. If anonymity is what you want then just don't use crypto bank.

Why do you think that anonymity does not interest anyone. Can demand any cryptocurrency supported thanks to anonymity? Currency speculators don't want to be found.

This is the country where international politicians are been dump their all black money bank. Now it becomes much safer for them. If the move to put their money into bitcoin and the concern BTC address leaked. That's it. They will be locked easily.
I would expect the bitcoin bank should come to non-developed countries where the corruption is more. Sure bitcoin will you to avoid corruption.

The benefit you get from using a bank is that it's regulated and possible to use for your businesses.
Also, wouldn't it be possible to have some sort of an insurance on those Bitcoins? That alone would be a very good reason for people to invest in Bitcoin via those banks.

Surely many people would use a bitcoin bank but they would do it more by the habit than by something else. In fact bitcoin makes it possible for you to be your own bank and you don´t need to deposit your money into a bank. It can also facilitate payments, make them faster and be you who handles your money and not another entity. Surely the bitcoin bank would seek the way to attract users, probably through deposits with monthly interests for users or with similar products.

But those that use bitcoin as a store of value are using bitcoin in a way similar to gold, what is the point of having a bunch of gold inside the safe of a bank where you cannot access it at will?, putting your bitcoin in a bitcoin bank does not make sense since it will be better to have your bitcoin in your wallet.

Switzerland has always been a heaven for people having black money.Bitcoin is also psuedo anonymous and is used by big whales to invest their black money to escape from governments.I think that switzerland would have been the pioneer in adopting bitcoins.They are already late when compared to other countries.But definitely,it will help for more progress of bitcoin.

Switzerland is the best place for bitcoins. we can buy bitcoins everywhere! we have in every single city and villages bitcoin atms. but you can only buy, not sell

Will help bitcoin?With what?
I don`t think that there`s going to be any "promotion" of bitcoin.
The whole idea of a cryptobank is dead,because cryptobanks can`t give loans and can`t invest.

that doesn't still explain wanting a bank!
bitcoin is not like fiat or gold that you need some "space" to store it and be risky to keep at home for example! you can literary save bitcoin on a piece of paper which has something like a poem on it :D
"constant forest adore false green weave stop guy fur freeze giggle clock" write something containing these words and it can hold millions of dollars inside without anybody knowing.

If you want to make a secret account bitcoin that must have its results stored in swiss banks more secure.

I do not want to deal with the bank but there is a good money store

That's a good news for the future of the coin. Even though there is a very less chance that Switzerland is going to adopt it but in terms of popularity we can get more investors. Amd eventually we can accept a pretty good increase in it price soon.

They have been... a long time ago.
Things have changed quite a lot in the last decade.

Take a look on how people are running to small nations, so called "tax heavens" , things like Panama Papers.
Switzerland has already signed a few agreements on turning data to foreign nations so, the Swiss banking secret is going to be a thing of the past.

Swiss is country for safe money, many bank Swiss have a high quality and now swis accept bitcoin for transaction , is a positive signal . It is very good for bitcoin prices, the public began to receive bitcoin as a means of exchange, proving that indeed cryptocurrency will shift some currency .

Switzerland was affected by the publication of the Falciani List with 130000 potential tax evators who had accounts at the HSBC bank.

The most important thing when it comes to developing a product is the people because developers want have a reason to develop their product if there are no people to use it, and that applies exactly to bitcoin, if bitcoin has people using it and believe in in it and wanting to use it, than investors and developers will have a reason to work and make things that people will use their coins on.

Sigh we will need a Bitcoin Bank in order to use the Fiat system as a mechanism to convert currency for Bitcoin exchanges and services.
If a bank doesn't want to touch a Bitcoin company or Blockchain one we need an organization that will handle their cash for them so we can grow the economy of Bitcoin.
Sort of like a tethering mechanism in case banks provide more finance restricting issues.
If someone starts a Bitcoin business from scratch they still need finance options to grow their companies.

Well, I knew swissbank are the ones handling the BIG goods of Big People around the world. And with this mindset, the government is more willing to take part of the new era of crypto curency. Good luck Switzerland. :)

after japan swiss is far more ahead of cryptocurrency adopting in banking sector this is an eye-opener for many countries

The point of bitcoin is to be your own bank! However, i guess for some people that do not have the know-how it is best to store it elsewhere and not in an exchange. Switzerland is the best place for a bank so why not

This is good news. Switzerland's stance on cryptocurrencies is getting clearer by the day. This could have a major impact in the future of crypto and even an immediate impact on this bearish market. These news should circulate more than the bad ones.

A Bitcoin account does not exist and wonder what you call "secret". And Swiss banks don't accept Bitcoin, so you're just another one who doesn't know what he is talking about, maybe you have no idea where is the country on a map

The news is about 1,5 year, just saying....

I don't think that bitcoin or any cryptocurrencies should be banked, because all what banks do they store and control the way your money since they have all your information, the whole point for from using bitcoin is to completely be anonymous to do my transaction when ever i can and how ever i can, it gives me freedom of choice, and basically creating a banks deifies that idea and i think it is worthless,unless they are trying to create some type of bank for mixing cryptocurrency.

Though this thread has been opened since January why bitcoin and cryptocurrencies market remains in bearish trend.  Have the price over pumped that it has to fall from were it started from? Maybe the evil news has over shadows the good news and investors has to play along.

Technically, since the news is 1.5 years old it has proved to be a market mover...we're 5x times the price  ;D ;D ;D ;D


Because it has been opened in 2017, not 2018!!!!!!!  :)
And it's about time it gets locked as a lot of crap gets posted.

swiss is most user-friendly country for bitcoin and cryptocurrencies we can see more positive growth from swiss country even they are planning to regulate icos