Bitcoin Forum

Recently, the world's first ever Bitcoin bank

http://kryptomoney.com/worlds-first-bitcoin-bank/

Bitcoin has been improving since it started its first trade and now this great news, bitcoin will soon be here to stay, what can you say about this great news?

Will it support the growth of bitcoin as far as stability is concern?

You know...news...means usually something recent.
That is from Feb 15, 2017.

And unfortunately, it's not a bank, it's just an exchange.
https://www.rt.com/business/376977-austria-first-bitcoin-bank/


But anyhow, depositing your bitcoin in a bank...what's the point of doing that?
You already have the best bank at your disposal, your wallet, so why move your coins to a 3rd party that might just run with them?

The idea of a decentralized online currency was to say "No" to banks (more or less). So, I don't think it's "another good news". And by the looks of that link, I don't think it's a bank, it's like an exchange. Although it makes some sense since, I think the exchanges are like a bank in crypto world.

bitcoin has now become the world's attention.
many who study it and some who do not want to know about this,
but on the other hand for countries that have a reflection of their future begin to legalize bitcoin and make plans to have the advantage of its users.
and this will definitely push up the bitcoin price

There is nothing called BANK exists in crypto-world.
The one you are saying is a exchange. Another So called crypto-banks  providing loans are Just private Lenders not bank. Bank is a institution that control the money in circulation and take responsibility of your deposited fund.  But none of these crypto-banks take the responsibility of our funds.

edited: thanks to stompix

the word "recent" doesn't always means that this news is current, yes it was dated feb 2017, but the fact that it was the first bitcoin bank that was ever formed and i dont know when if others followed after it was formed in feb 2017, i cannot argue with terminologies anymore. sorry my bad.

it was owned by a blockchain company but that does not mean it is a blockchain and not a bank, it was formed to be a bank to make easy and safe buying and selling of bitcoins. even wallets are backed up by a bank, you need a 3rd party for bitcoin to create traffic and gain popularity and trust. as the saying goes "no man is an island".

Maybe this particular question talking about bitcoin bank, are all about banks transaction on bitcoin. I don't ever heard or seen in my hometown any bitcoin bank, but talking about banks accepting widrawals transactions through ATM by using wallets, and yet it is really true. Although bitcoin good news are strongly standing globally, even there are some negative issues about bitcoin but still bitcoin continued the total operation and which a lot of people benifited and resulting it into a good news which many people became stable in terms of financial status.

Everyday for me is a good news about bitcoin  especially when the price is too high I can't wait for it

This is an old news and it was just a speculation and I am glad something like that never exist cause it was not necessary. The number one reason why bitcoin or any other digital currency differs from fiats or the normal currency is the merit of contoling your own bank and the decentralization system. After all, we already have the wallet to make management better for us. Without these, bitcoin won't be gaining this much attention.

If bitcoin or the altcoins will having a banks then this is good because our Bitcoin will be 100% safe, insured and will earned annual interest in which same benefits with our local money in the banks but i think this bitcoin bank did not exist because as what you have said this is not a news anymore but more on clipping especially that most of the banks are against Bitcoin today.

Bitcoin is decentralization and freedom, how can it be linked with the Bank? I do not understand.
Banks are governed by the Government while Bitcoin is not affected by banking regulations.

Thanks for the information you gave, I'm trying to believe it to continue to buy Bitcoin. Looking at the market right now I think there is a lot of bad news about it that makes the entire market go down quickly.

yeah its very clearly, its not a bank, it was an exchange, and this is can be use in EURO and no other than that, so why should I use this, if I have a very owned wallet to store my bitcoin and nothing has change about doing that. I think this NEWS is only good for autria, and not to all bitcoin users.

How can you earn interest in Bitcoins since there are only a limited number of them?
If all users will put their Bitcoins in a bank where is the interest going to come from?

And why do you think that your coins will be safe in a bank, when your fiat money is not ?
If you care that much about having a bank in control of your money then just use digital cash and a plastic card.



Seriously, do something about your English.
I can't understand more than 25% of what you wrote there.

It's really good news for bitcoin user why-not if bitcoin bank is open we can use it easy and i hope it's popularity more increase and since then all the country accept it.

This is really a great news for us bitcoin holders. If the bitcoin will be having a bank and stay here,then I am more so excited of holding my bitcoin for the future. I would love to deposit it there.

For me, the good news for bitcoin is that it is currently stabilizing the market price value and it has not decline below 9K and with this, I believe this will spike back in the coming months. According to some experts based on an article I happen to read, bitcoin price value may surpass the last years highest increase at 19.8K in the last quarter of 2017 and predicted to rise up to 60k in 2018 as what was predicted by a crypto currency enterpreneur  Julian Hosp (president of TenX).So, let's wait and see for the potential rise and recovery of bitcoin this year.

I don't think those are really good news, and will probably end up like the AriseBank that was ordered to close down. I'm not sure crypto banks will have a futures in the crypto world. I do think we need more safe approaches so that bitcoin can be adopted and used worldwide. The news about scams, and thefts are to big. If we want adoption to occur, bitcoin can't be safe to use only by users who understand how to "use the internet properly". If these so called crypto banks will provide a safe option for some users, I'm ok with that, but I would still prefer that bitcoin would remain decentralized, since that is one of it's main purposes.

Yeah Bitcoin bank would not be applicable since bitcoin circulation mainly for the investor who buy it .if you put it in the bank it means that there is a third party who hoared the BTC in the bank for all we know how banking works. So if these will happen who will control the bank? I think banking will contradict what really Bitcoin and blockchain technology all about.

Bitcoin has been upgraded to lightning network and accepted by many business units. Bitcoin prices are plummeting because of the news that Bifinex has not proven ownership of Tether. I believe that bitcoin will soon return to its growth momentum.

i think that's good news is become more in agresive about bitcoin and stay longer in networking so that many unemployed will be help...bitcoin is awesome network there's many people want to join and easiest way to become member...bitcoin well help us to build up our future dreams,more improving bitcoin....

It's not a full-fledged banking institution. Maybe it's some Bank opened its cryptocurrency exchanger in order not to risk the license. I don't believe this have any affect on the turnover of bitcoins. But maybe this will simplify the exchange of cryptocurrency for Fiat. The more such exchanges, the harder it will be to lobby for a ban cryptocurrency.

Not only unemployed but the employed people are using bitcoin and it is really great news for them so they will be happy, you are right that it is an opportunity as like all other bitcoin opportunity but for this all skills you will need, it is important to use bitcoin at very safe way life perfect web site should be find at new thing people try to scam because of lack popularity but it is our responsibility to use it with care to get high profit.

There is nothing called a Bitcoin bank and if it does exist that won't be great news. In fact making a bitcoin bank will not support the growth of this crypto, it will limit its power  and make it ordinary like any other usual coin, the reason of making bitcoin was totally the opposite of that, it is to stop making a banker an intermidiate in the exchanges between the individuals and stop paying for saving money.

I don't think that stability would increase the growth much, lots of people are interested in BTC, because of its volatility, it's risky, but at the same time useful for trading. And why would anyone want to store his bitcoins in a bank? To receive someday a surprise that they've lost it or to make the first decentralized cryptocurrency more centralized?

I think the only function of bitcoin banks is for loans.
Other than that decentralization will take place.
But I guess it's still a good news wanting users to have a good suoort on cryptos.
.
I hope that fair fees and taxes are on too.
And do let every user see and maintain the real purpose of bitcoins as it is being used ànd not abused my greedy people .

Yeah I think with bitcoin bank this will gives little option to the government to not ban bitcoin. because they can still control bitcoin transaction using bitcoin bank and of course the government can give tax from there? this will undermine all the government's reasons for banning bitcoin. that bitcoins currency are anonymous and dangerous because they can not be monitored. with the work of bitcoin banks may governments in various countries can revise the rules against bitcoin

          This is the old news and there is a spark of speculation and its fun like something like that is no show thats going to happen and its not quite necessary numbers are just one reason why bitcoin or whatever is mostly using digital currency differs from fliats or a hood currency it is worth merely controlling your own bank and decentralized its system .most of all it is really a wallet to make or maintain well for us even without the hassle .the bitcoin really does gaining a lot of attention .

bitcoin is a digital currency, and now it's known all over the world, even almost all the people in the world plunge in the crypto world to get a big income, and this will further push the bitcoin in order to continue growing.

that's what I expect, good news about bitcoin, I also hope the bitcoin can come back like 2017, and bitcoin becomes the choice of many investors in the world, while today bitcoin prices continue to decline.

who says you should put "all" your bitcoin in a bank? the problem with some of the posts here are they are too skeptic about banks, banks can be a useful proof that bitcoin will be legal if banks will accept bitcoin deposits, look at the bright side people, there are doubts all over the world whether bitcoin can be really useful for buying, trading and selling. these news about putting up a banks will certainly erase some of those doubts.

even with fiats or paper money, you should not deposit all your money in banks. the idea was to make cryptocurrencies circulate like ordinary fiats.

I still think that bitcoin does not need a bank as that is why bitcoin wallets are created in the first place. Having bitcoin wallets means that you can store your bitcoin coins into your own safe keeping and with your own freedom so you can deduct the costs that you can have on depositing it on banks and the fees that come with it when you are withdrawing. That is why I think it is not needed

I think it is a bank that has implemented a technological system blockcain. blockchain is like the Android system in which the application runs with the system. Bitcoin is practically just one application of the blockchain system .. and it can be true in one bank that already uses blockchain technology. Also other crypto coin

True about the news, it’s too old and not useful for current hikes.

Also, putting our money into bitcoin bank is like giving our freedom back to the bank and thus locking ourselves into the same traditional banking system. For this not to happen the whole idea of the bitcoin was put forth by its creator that is Mr. Satoshi Nakomoto and here we are dreaming the whole bank of the bitcoin. That’s means nothing to me after all these years of bitcoin use. Let’s keep it decentralised and hope that no one really make the bitcoin bank and take out the fun from it.

Yes its a really good news but not for now, it was a very old news. The news was published almost a year already since February 15,2017 so this isn't something that contributes on what is about to recover for bitcoins current price. But tackling with bitcoin bank what's the sense of decentralized and anonymity if you will let the bank have your bitcoins or you will lend some bitcoins from the bank?

Bitcoin bank will broke bitcoin as decentralized currency but it will control bitcoin circulation.
Of course it will encourage the government to legalize bitcoin.

The impact is bitcoin's value will increase if all government also legalize btc

Every other day in January we had only some negative news appearing something like country bans it, exchanges get hacked or scammed, ICO in some country is being banned etc which has resulted a huge drop in the btc prices. Now the market is below 9700$ and some positive things will only help now to recover from this range.

Definetly its will support the growth stability of bitcoin,when we heard a great news about good things happen in cryptocurrency,because its can make us all bitcoiner alive and continue to support for the goodness of  bitcoin community.I believe that  bitcoin will last  longer in this kind of bussines,because bitcoin is the answer of all our dreams and the future of economy  growth towards a better world.

January may be the bad start for bitcoin, but I am very much hopeful that its price may recover in this month of February.  This is a good start for bitcoin to increase its price again. We'll be seeing it to be in $16,000 again soon. Hopefully,  there will be more good news to come so its price may easier to recover from its drop.

why the decentralized online currency is rejected by them, maybe they will find it hard to make a profit because we know it can all be known to the public, besides that their existence will be evicted by the online currency so they refuse for various reasons according to them it is true

Why do you have put your bitcoin in a bank. It will defeat the purpose of decentralization. Now, you have your wallet wherein you all have the control on what to do with it. You don't have to go to that bank and pay transaction fees again. That bank is made to cash in on cryptocurrency.

You're missing the point. It's not an actual bank, it's just another exchange. A physical exchange to be exact. It's designed to facilitate buy and sell and make it easy even for new users. Which part of that has something to do with being a bank?

For me it is not a good news, bitcoin is created to become decentralize it means no one really owns it even the goverment.
This thing is what i like most about bitcoin, then you say that theres a bank for bitcoin. It will make things more complicated.
Actually we have a bank for bitcoin and it is our wallet. So no need to use banks.
For now i am satisfied with wallet being our banks, because we can control it and it makes transactions more easier.

It's a good indication that people's trust to bitcoin is getting stronger as this bank is accepting bitcoin and hopefully this bank will be a threshold for others to follow and to let those people who don't believe in bitcoin to open their eyes and believe that bitcoin is for real.

I know the South Korean Finance Ministry has officially informed Korea not to prohibit the commercial Cryptocurrency. This is a good signal for the market during the period of coin decline seriously. I believe that the market will recover quickly as investors from Asia return to the market, with better signals.

Exactly, as we all know bitcoin was designed which is decentralized was occurred that is no 3rd party will involved like banking system or any government. Regarding on the fact that it's a good news well its not a good news dude they just started to enter in the world of crypto currency as being the 3rd party. This could be an alarming to all of us here in crypto currency community, hoping that it will never be happened. As time goes by many people here benefited the usage of bitcoin that can support the financial stabilty for each and everyone of us here in crypto currency community.

And was sometimes bitcoin not created to become independent of banks? Banks have to comply with a lot of regulations and are under financial supervision. This causes the state to have control over the currencies. I don't think it's about the idea of decentralization.

Seems like the era of bitcoin to become centralised is near.

Stability in bitcoin is in there already since then,,,banks and governments are not allowed to be our third party,  cause we will be the one who holds it,and we can trust already our each wallets, they will only generate more charges.

For me, one of the good news in bitcoin that has been occurring to bitcoin lately is having the advertisements of ICO's banned from Facebook and Instagram. I know this might seem odd to most you but clearly if look at it at the bright side this could eventually help prevent the scammers from harming other people especially those who are not bitcoin users because this lead to damaging the reputation of bitcoin to the public, so yeah at least they will be full aware that bitcoin is really legit.

Do we really need a bitcoin bank . Our wallets are suppose to be our own banks and controlled by us. Having a bitcoin bank shows that the mainstream society are accepting bitcoin.The banks to be used by those who wish to do so.

Yes.I think having a decentralized behavior means no control from the government or any supervisions from the state.So if there would be banks for bitcoin then i don't think it will be a good news for bitcoin and for sure it will not click to the majority.We have our own trusted wallet already that serves as our bank.It's the best bank i've known since we are the sole owner and controller of it.

Whats that good news about bitcoin? Is it about the Price its getting high currency? Or its all about the Coins that you have in your wallet? Or you should be notify about whats gonna happen by the next few years when Bitcoin is able to be the best currency and famous in the world.

Yes. Don't put your bitcoin in the bank.If you have made so, bitcoin will be controlled by the bank and government. You have to pay the transaction fees to the bank.Which intern the decentralised concept of bitcoin will be destroyed. Bitcoin is created to replace the paper currency and to make people free from bank.

How secure is your Bitcoin wallet? I think that information about hacking of crypto currency purses comes much more than the number of bank robberies. Although I will not argue about what is better, paper money or Bitcoin. But paper money is much easier to use than something that's currency.

yes  we already got a wallet to store our cryptocurrency. why do we need Banks.
as far as i can imagine no bank will be produce for cryptocurrency i think because they don't agree on what some real banks do
about lending cash.

Old news from Russia Today.Today reality is sell offs on crypto and sell off on stocks also
Good news is what Greenspan told.He told we have to big bubble now.One are stocks second is bonds market
That second is a bomb,becouse usa debt will be soon bigger than usa debt in the time of WW2.Just imagine what could happen.He is 92 years old now andhe is  totally indpendent.So be prepared on fiat money economy crash and crypto crypto is going to stay

I guess that this was good news in that moment, also if info is correct and this is first Bitcoin "Bank" out there, its still nothing special or important for me. Why is it not important? Well i have been dealing with bitcoin for a few years now, and there is company in my country that gives exactly the same services as that "bank". They have everything that is mentioned in that article, the only thing they don't have is "Bank" in their name. Which brings us to the point why i said that its nothing special and important. I guess there are more companies around the world like the one in my country, that were older than this "World's First Bitcoin Bank" .

Yes, friend, I have already heard about this bank, and it also seems to me the best sign for Bitcoin. It also proves that BTC is supported in Europe. This news can have a positive effect for the market I suppose.

For me, banks are in a way a good news for us cryptocurrency users because that means that some financial institutions are starting to embrace the fact that bitcoin is here and are here to stay. They are now trying to capitalize on it and start to make a living and business on it. However I still think if this is a neccessity or can somehow be bypassed by our bitcoin wallets which we all have

The funniest part about life is that people have the best at their disposal and they still keep looking for something they really do not need. We are all running away from the bank/exchanges and then someone is still very happy putting their bitcoin in a so called bitcoin bank as they are so calling it. This is an old project though, and I am not even sure how they are faring now but as long as my wallet is doing the job for me which I know it will forever do, then I have no business with any bitcoin bank. Moreover, why call it a bank when you can just use exchange, there are so many of them already and we all know how leaving your asset in an exchange sucks.

Bitcoin can be so improved and i was supposed to support that idea because i believed that it can growth bitcoin because too many people and countries used bitcoin and few cannot know about it so that  the people whose have a deep knowledge about bitcoin so that many ideas came and tradings that come that may promotes bitcoins growth.

Good news about bitcoin is that it has been improving since it's started and bitcoin can help a lot of people from now on until in the next future.

More people improve their financial position with the help of cryptology.

Bitcoin has been improving since it started its first trade and now this great news, bitcoin will soon be here to stay, what can you say about this great news?
You already have the best bank at your disposal, your wallet, so why move your coins to a 3rd party that might just run with them?and this will definitely push up the bitcoin price.Good news to all bitcoin doubler lovers✳️
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This is not a very good news about bitcoin at this moment, bitcoin is decentralized in nature, if crypto banks are there to rise means this statement about bitcoin fails. I think there is no necessity for banks as all have there wallets where your coins will be safe. If we think of banks to reduce thefts and scams then it will be considered centralized which is not fair.

I think it is a good news for us in our country but only if central banks support bitcoin then our government bank will also support bitcoin in our country if this happen this might pump the bitcoin price because there will be alot of investor but still not guarnteed at 100%.

It will not only be the decision of the banks to support bitcoin or any other digital currencies, that is not them to decide, it will surely go to the government to talk about. And I think even if there are "Bitcoin banks", I will still use my bitcoin wallet since one of the feature of bitcoin is the decentralization and it don't need any third parties to save your bitcoin.

Wow!! Yeah of course really nice whatta great news now. If thatcase will soon be done or already done bitcoin will never dump as low as more now because it has already supporter the bitcoin bank. This been a great help to bitcoin, another foundation on it again since btc is the most valuable coin now. Well, if this things happen the crypto currencies and especially bitcoin will be more expose on the whole world and everybody will goingto subscribe on it.

thats why decentralization is the main objective for most of us love to be here,and now will having a bank?for what?we dont need third party here,were contented being free..and news will be news until implemented

Most of people will stick to their wallets when we talk about way of keeping your coins, but banks will find a way to enter peoples life and force them to using their services. For example we can take bitcoin loans, its a loan like any other and for that you would need to be part of banking system. That way you will have their wallet and will depend on the bank. People that lead banks are cunning people, they will always find a way for us to depend on the banks somehow. But I also agree that governments will be mostly responsible for what happens with bitcoin in some country.

I really do not understand the interest of a bitcoin bank, it just points out that people are not yet ready to break away from our current system

What's so good about it? It just literally makes no sense whatsoever. I mean, doesn't decentralized currency mean anything to you? This is a joke.

If it really does what it says on the article, then this is not a bank, its an exchange. Quote from the link:


What's the sense of having wallets then? Isn't this a very obvious redundancy?

Even i saw updates regarding bitcoin bank which has opened at Mariahilfer Strasse in downtown Vienna ,Austria but i don't know how far the information is true as i did not see any kind of news updates relating to it infact i only saw few blogs relating to the first bitcoin bank in that it is said that it started in 2017 Feb and people can buy and sell bitcoins with the help of that bank.I don't think or feel it as a good news for bitcoins to start its own bank where people can buy and sell coins directly because the main attraction of bitcoin investment is that it is a decentralized platform and it does not need any kind of personal information nor collect any personal data so if a person goes directly to buy or sell from there .It does not make any sense that it does maintain high end privacy of the user because they will come to know who all hold how much coins and it does not make sense at all.Infact there is no need for such bitcoin banks when we can do everything on our own without depending on a third party why should someone spend time and visit a bank if they can do things on their own at their own comfort and maintain everything in their own wallets and do transactions without 3rd party so it does not make any difference if there is btc bank or not.

Why its taking a long time for other countries to adapt and experience the benefits of bitcoin and other crypto currencies. Just went through the article and really was overwhelmed to read the merchants and other shops do accept bitcoin. Really wish to have the same environment in my country as well.

Bank for bitcoin is really needed? Though we had so many threads sharing thoughts on the same, we are so secured and protected without bitcoins. Do someone need to administer the bank on behalf of bitcoin. I am really eager to know what job is done in bitcoin bank?

Satoshi created bitcoin to remove third-party establishments. One of them is the banks so there is no way that they will create a bitcoin bank. That is just an exchange only not a bank but this is a good news but not that good compare to the FUDS spreading across the internet.

For me it's good news if the first bitcoin bank is not controlled by government, if this bitcoin bank is where you able to convert your bitcoin to cash then it's good news for me if you cant withdraw cash from the first bitcoin bank then i'd prefer not to have deposit my bitcoin to any bitcoin bank.

This is not a bank for sure  but a place where people would just send and but bitcoins, to say a bank to an object it has to make so many other complicated transactions, but yes it is a good thing to be opened in Vienna.

Yes, this is truly informative as well takes bitcoin to the next level with the implementation of a bank that is completely operational with bitcoin. This shows the support bitcoin has got around the world, particularly the countries that adopt bitcoin at the earliest will benefit good through it in the short. I believe Austria leads the track.

This is a good sign that bitcoim will become more popular and i expect that it will increase more by the year of 2018 but for now we should need to believe in bitcoin and other cryptocurrency this is time to buy some bitcoin now do they're dont regret someday.

Why does Bitcoin need a bank. I don't think having a Bitcoin bank is a good news. This is because it would further make cryptocurrency transactions less anonymous. However, if this bank can help solve the problem of fraud and detect fraudulent and illegal deal then it's not a bad idea. This will help reduce scam and more people will come to accept it.

Decentralization is definitely one of the best thing which all the crypto currencies especially bitcoin is having. This is really helping the investors to invest freely in bitcoin without paying anything to anyone in the form of tax. In addition to this, the market value of bitcoin has once again started to increase and this is a very good news for the ones who are holding their bitcoins in their wallets.

Well i watch on tv bitcoin is like a working of computer technology but its better a bitcoin than athor works because bitcoin is the best oppurtunity to us and its nice so the news bitcoin is easy fo success

You're right, too skeptic about banks, but there's a reason for it. Banks usually act in the most profitable way for themselves. If lots of people store their bitcoins in a bank in future, then the price could be so easily manipulated, as well as banks can now manipulate gold price and deceive people. That's why cryptocurrencies must stay decentralized.

There have always been banks for bitcoin. Coinbase, Luno, exchanges that you can convert to fiat are all banks as far as I am concerned and that is exactly what that project was offering. The essence is just for conversion, even though it has wallet capabilities, but security wise, no one would ever want to leave their bitcoin one day getting dwindled on an exchange wallet. I really do not know why OP would be so happy regarding this anyway, not like it is a new thing.

Sorry to deliver the bad news. Exchanges are all going to be regulated as they serve as banks anyways. Unless you want to do without fiat, then you will always have a business to do with them. That has not stopped bitcoin or some other cryptocurrencies from being what they are, but until we can have a system where we can spend our cryptocurrency without having to convert to fiat, then we do not have anything to do about it.

I think the best news for me is that the national banks in our country have reviewed the virtual currency (bitcoin) because based on the president's instruction states that "for the betterment of our times we can not resist the presence of bitcoin in our country, and it is expected that the state bank reviewing bitcoin "the bitcoin banning rumor in our country has now been unplugged.

I cant give any inputs regarding with bitcoin updates. I have to search on the internet about bitcoin since I am still a newbie. I am just reading some post and I have read few of them that is just like me dropping by posting details somehow related to the topic. I guess there is no bank for bitcoin. It works through internet so why do we need to have a bank where in fact the internet is already the bank for bitcoin. Anyway it could be possible that one day there will be a bank for bitcoin.

I agree bitcoin is an opportunity to us, we just need to have a knowledge on how to earn bitcoin, and we can also invest our money in bitcoin if we really want to grow more our money.

Lol. The whole point of bitcoin, crypto currencies and decentralization is to get rid of banks. If there are bitcoin banks, how could you consider bitcoin as decentralized currency? The bitcoin bank will control the currency, thus becoming more like a regular centralized fiat currency. We don't need any bitcoin bank or shits like those.

That’s how it starts, that’s how you guys keeps getting scammed. Tomorrow you will come to the forum and blame it on Bitcoin saying that Bitcoin is scam, while you’re the one that gave your money to scammers. Why do you even need a bank ?

What is it that the self proclaimed “first Bitcoin bank” has to offer that wallet like Xapo, Coinbase and their lookalikes doesn’t have to offer their users ?

When you use Xapo, you’re offered an option to use debit card by MasterCard for withdrawing your money through any ATM with the MasterCard logo on it which is the same thing done by banks. So what is it that you need from these ones that claims what they are not ?

     You know what pal, I really like the fact that you have great intentions and putting an effort to spread some good news about bitcoins out of all the FUD that are currently flooding this forum but, as what the other guy have said, news means recent information(although it is still news for people who do not know), you must really be careful about any type of information that you spread because no matter how good your intentions are, if you happen to share the wrong information and people who are new to the crypto world that do not have a habit of confirming news first before believing gets to read it, you will absolutely mislead them unintentionally and do more harm than good to the crypto world. - just a little advice.


     Now, in regards to having bitcoin banks, I really do not think that we need something like this here in the crypto world. Simply because the very reason why we or most of us are here is because many of us are already tired of the outdated banking system. It really wouldn't make any sense if crypto lovers would use services like this one. Specially with the fact that one of the perks of being in the crypto world is you can be your own bank and be in full control of your funds. Not to mention the paranoia of most of the people here in the crypto world when it comes to their funds(which is just right since the cryptos we own are our treasure and most of us really did work hard to earn these cryptos we possess). So all in all, I really do not think this kind of idea will really work, I just don't. no offense.

This is a complex issue (about investing with Bitcoin) and can greatly affect market perceptions. So be careful
but I think that's just an issue, so do not worry.

so many people using bitcoin now and bitcoin is center of attention now I know the crypto currencies is going up again soon. now crypto currencies need more investors and user

Yes, definitely. Bitcoin will increase and may go up rapidly with this new development. However, the danger is when the market is so saturated by sellers and not much buyers. Many will be hesitant at some point because it may lead to another big decrease in bitcoin's price.

I think of it twice for having my cryptocurrencies deposited on a bank. I think it's unsafe to trust another third party system that will hold my cryptos. I think i will just use my web wallet than depositing it to a bank or crypto exchange.

one really good news is that India will not ban Bitcoin. "We hope that within this year, the committee would finalize its recommendations and then it would require legal changes, regulatory assignments, but certainly there will be regulations by the end of this financial year,” Subhash Chandra Garg, secretary, department of economic affairs.

After reading the article my thoughts are the Bitcoin banks primary purpose is selling and buying of Bitcoin. I think the impact on totally in bitcoin is very minimal though its better because at least the steps on stabilizing the bitcoin platform is there. If the bank will become successful then the future of bitcoin is certain.

This is not a new thing maybe new for you because you just recently read it lol , but yes there is a bitcoin bank for bitcoin to introduce commercially to the people and obviously to have more secure storage than soft wallets. However it will regulate and charge much higher fees than usual as the bank workers are not a robot and the establishment used to have a bank.

Bitcoin growth is a good news for us,due to its popularity it became more stabilize if it would implement a bitcoin bank.Our transactions would be fast and easier for us.If it became successful bitcoin spreadout worldwide .We became really secured and trust on it.

I am not in favor for the bitcoin bank because there is no sense for me to have a bitcoin bank since we all have our own wallets which we can use in order to store and keep our bitcoins and this logic is also same in the altcoins that they have their own cryptocurrency wallet which is their own bank for storing and making sure that everything is safe.

Thanks, i appreciated your advice and i already acknowledged the issue about the date of this article, but most of you didnt get my point in posting this thread, i did consider the date, in fact i knew when it was written, my point is, this kind of article somehow help bitcoin in terms of advancement and popularity,i know that bitcoin is already known by many but not all has the knowledge in what can bitcoin really do  and its potentiality in getting it out in the open, i mean not only online but also physically out in the common market, now knowingly, because this article came, it doesnt mean that we all need to depisit all our bitcoin here, i did not mention or asked anyone to patronize that bank, it is everyone's own decision to deposit or not, honestly if that bank really do exist, i will not deposit even a .00000001 btc there, what my point is, this article proves that bitcoin is really on track in terms of gaining popularity,, soon common people not in bitcoin will learn about this bank, curiousity creates popularity. Popularity creates trend, trend creates traffic, traffic creates bitcoin price movement. Profit comes next.

good news and happy for bitcoiners indonesia, the existence status of BCH (bitcoin cash) nowadays has caused tension action but now have better and start information which will be liked by trader bitcoin vip indonesia,
bitcoin has now become the world's attention,
This will definitely drive the bitcoin price.

Of course they do not need it but if there is a bank of bitcoin, that means bitcoin is legal for their country and I think every things will be solved easy way on banking system. And of course this have a bad effect towards us as bitcoin players because every single id will be reveal to them, no matter small or big player there. Somehow I can say this is good and bad news not purely good news only

i dont really approved that bank cause many faults and reviews. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men meaning, no banks! that is what i know. no banks allowed. but it is  good to be true that we have one

putting out bitcoin to the bank which mean the bank will controlled our bitcoin and i don't think people will liked it because some of us are avoid banks and more likely to save their asset to bitcoin and save it into their personal wallet however recently reading the article that they have the features which is not so different such as the exchange so i more likely to consider this is similar an bitcoin exchange and not bank of bitcoin

I don't think bitcoin bank is going to help bitcoin growth as we have to agree that bitcoin is attracted due to its independent access and if we deposit in banks then it wont solve our purpose that bank will control the value of bitcoin and unnecessarily there will be a big issue and misleading will took place which is not good for bitcoin.   

It is old news…I think one exchange give a glimpse of it, but it was not a bank.
But we can hope in near future bitcoin should be a part of any Bank, cause there is also some news that some countries are thinking about to centralize bitcoin.

If a country and local government are able to accept bitcoin as a means of transacting, then I do not think it would be a problem. The existence of bitcoin bank in wina austria I think will bring a good impact for bitcoin in the future. This is the first step for bitcoin to go further and will be big in the future.

Yes, this is great. Bitcoin Bank, I know their will special offer for us, so that our bitcoin will be deposited to that bank. Also, bank is regulated by government bodies, so it means it will be approved and spread in the whole country, maybe in the whole world also.

The Good News! Bitcoin Is becoming the New Gold 2018!! Always be critical when Bitcoin prices reach High!! Investor should always be critical of whatever you're investing in. And aThere are also bitcoin futures market there is a successful trend of businesses accepting Bitcoin as a form of payment system. So Bitcoin investors no need to worry about that!!.

Though your mentioned information is not true but this initiative could play an outstanding contribution regarding this market. day by day Bitcoin and crypto market is becoming an important role in our daily life. that's why bank and any exchange site could play a vital role in exposing this system around the world. It's obvious that we have to think in different aspect for promoting Bitcoin and crypto market whole around the world for the future purpose.

Definitely there must be movement of your bitcoins from that bank account to any wallet. These wallets are specifically designed for the coins of crypto world. Plus if you put money in banks, you will not be able to invest them in something productive and wouldn’t be earning growing your money. Keep them in wallets and make your income double and triple by investing and trading with it.

If central bank of each country start supporting bitcoin then there will be a lot of progress and development in that region and I am pretty sure in coming days this will happen because usage of bitcoin is increasing day by day and more and more people are coming toward it which is a positive sign for prices that they will use and more of it the country will be more progressive in its economy if this happens now.

Oh well a lot of good news about bitcoin but the price are still dumping and I think the real good news here is that you can now own more bitcoin at a lower price. I know bitcoin can go higher this year, and more good news will come in the coming days because the price will go up soon.

Still, I didn't hear any good news about bitcoin. The price of bitcoin is kept reducing in the market and people are still dumping in the market and bitcoin price is getting reduced even more.

YEY! I keep loving the idea that bitcoin is about to stay further and our economy we'll be needing that great and huge idea. I've seen in the news lately that they proliferating ideas of digital currency right now.

It is time to show trust no doubt but we will have to be careful as well, because getting or buying any other currency can make us lose at time to need, price of bitcoin is the only thing that use to grow as not other currency is giving the users all those facilities that bitcoin has given. Increasing price is a blessing indeed because most of the people know that if they are buying bitcoin right now it is lie turning your future into Gold.

It’s not really much of a good news to me, cause I’m not used to making use of new products that I’m not even sure if they are legit or made to be used as a source to scam people. I don’t even need a bank for my Bitcoin, its better I continue using it in my wallet.. cause I already have many wallets which includes Xapo, Trezor, Nano S, Coinbase, Blockchain and Bitpay… so tell me why I should be seeking more? Xapo already offers a debit card by MasterCard that can serve for ATM withdrawal purposes.

Well even if its good news, its not the type that can affect btc in a good way. Btc desperately needs something good being talked about it and a big one at that, since most fuds are major in the crypto market.

Well that is a good news though it will improve the bitcoin industry , you know to be honest bitcoin is growing though and I'm happy with the result but , there's a but it can't affect the bitcoin price or the stability. But on the other hand having a first ever bitcoin bank is awesome you can picture on your mind that Bitcoin will be a success.

I don't know if this is a really good news to all bitcoin holders. The bitcoin bank will defeat the purpose of decentralization which is one of the advantage of cryptocurrency. But we have not yet totally see what is the mechanism of that bitcoin bank so let us see if that is useful to the digital currency.

Agree everyone is now happy for the price of bitcoin because they have invested for profit and increasing profit is going to save future for them. Bitcoin transaction is now fast so fees is other thing I thing is so fair now because if we are getting that much fast transaction then the fees of bitcoin is not so high. I trust bitcoin I will invest bitcoin if it is true that then it’s time to make party and get involved in bitcoin.

This is a huge step towards the development of it.  If the bitcoin bank is being established it can bring revolution in the world of cryptocurrency. We are witnessing many things nowadays that lead to the development of bitcoin like some of the renowned companies of time like eBay have accepted the bitcoin as their payment method, the increasing number of investors in this business and the amount and the policies made by some governments to make the bitcoin official, all of these lead to the development of bitcoin in one way or the other.

Your right, bank reserves as the third party on your property and somehow cannot be trusted when it comes to holding most especially bitcoin in which volatility is very high. I think bitcoin bank is useless since we have our wallet which we can bring everyday and monitor the price of bitcoin we have.

The best news which is resulting in lot of comfort for the ones who are holding or investing their money into bitcoin is that most of the governments of different countries is taking them very much seriously and are planning of declaring them as legal currencies. Moreover, the acceptance rate of different crypto currencies is also increasing very much considerably thus helping bitcoin to gain more fame.

This can help boost the Bitcoin price in later days ahead but for the FUDs at the moment, it has little on no impact on bitcoin price value. Bitcoins as the pioneering Cryptocurrency has a monitoring effect on all other altcoins price value too. So, we are really anticipating every good thing that Bitcoin can bring  to put smiles on our faces.

I cannot see any advantage of having a cryptocurrency bank. Why would i store my cryptos in a bank and pay them charges for keeping them when i can store in it my wallet with no hassle, no maitaining balance and dont have to think of any bank rules? Why would i give any institution a control over my money when my control alone is needed for it?

Bitcoins can be used like fiat currencies for purchasing products or services online and also offline, many stores in America, Japan and Russia are accepting this bitcoins  and every day new user's are entering the bitcoin market, Russian Government has also legalized the use of bitcoins and other crypto currencies in the country and crypto trading they have legalized certain crypto exchanges which are positive signs for the wide acceptance of crypto currencies through out the world, which will helps to increase the price of bitcoins and other crypto currencies.

This is an indication that banks owners are started to make a system that correlate this new technology created(cryptocurrency). This is just a way of preparing for the uphold growth trend of bitcoin and other cryptocurrency which enhance it's usefulness in all aspects. Considering these things, it may comfort the community to have a secured place for their deposits directly, instead of converting into fiat money.

And now that even the foreign stock exchange is crashing and they say that seeing in switching to cryptocurrency is good move so better to stick to our coins because this is now the future and we're on it. Perhaps, these fuds are just pure manipulation so the government can easily regulate cryptos and whales can buy as many as they want.

Will i can say that its great news! that bitcoin is still continues its services towards us even those happening now of dropping value of bitcoin in the exchange market.The cryptocurrency continue its investment trading towards the economy of every country and supporting the growth of bitcoin is the main purpose of all bitcoiners,especially in this stability concern,because if the market value of bitcoin  is going high,the profit will also be affected,and all of us will be benefited.

That is an exchange. Having a bank regulated with Government rules will give safety to investors though.

Cant see the difference of this "bank" from common crypto exchangers that exist in many cities all over the world already. It gotta be a good market move to call it "Bank", sounds so cool and important  ;D
 

You remind me of one of the quotes I've read. The quote that contains something interesting is happening, Facebook 'the worlds most popular media owner' : creates no content, uber ' the worlds largest taxi company ' : owns no vehicle, Airbnb ' the worlds largest accommodation provider' : owns no real estate, Alibaba 'worlds most valuable retailer : has no inventory and Bitcoin 'the worlds biggest bank with no actual cash. So if you have bitcoin, you already have your own bank with no monthly fees.

The banks are just important because the people are trusting it to store their money but in the reality, there is no sense to use a bank because they are just stealing the opportunity from us and that opportunity from us is the freedom for using the money and putting it into the things that we want and that is where the advantages of bitcoin come which you have freedom because of the decentralization.

I see your point.  I likewise think that there is no need for bitcoin to have a bank because we already have a wallet.  A wallet where we can have access anytime we want.  A wallet where we can transfer payments, pay our bills, and even paid some person.  We can invest directly if we want.  If we store our bitcoin in our wallet its price will likewise goes up.

This will give us light to bitcoin bank first ever in the history I suppose to say exchange. If this is great news why people in bitcoin forums struggling in exchange for high fees. Rather banks you said but it is just an exchange. Sorry for your miss conception of news.

All news is good news, really. The more people hear about it, the more they learn, and the better off we all (eventually) will be!

but also let us not set aside that not all things are can be paid thru banks or thru online banking , like if you go to a groceries even you have a huge amount of bitcoin on your wallet you cant used it because it is not adopted yet you need to transfer your funds to a bank before you can purchase anything from a small business or even a large one.

Bitcoin has become great for a lot of people form very start till now because now people trust bitcoin they know it is having great potential to grow and it will keep growing. Price of bitcoin use to rise and fall but it is up to us that how we arrange it, in previous days bitcoin was not so expensive but now it is rising in price so will be great as a bitcoin user I am really happy to receive this good news about bitcoin.

That is the reason why we cannot fully depend in bitcoin because the market or the places that we spend the most of our time doesn't still got into bitcoin and that is an obvious thing that bitcoin is still not the best and not the most reliable cryptocurrency or let say currency because people are still into fiat because of their trust and they are so used in fiat for daily transaction like buying groceries, dining out and many more.

After the sale of sharks in early February, BTC has returned to $ 10,000. Many have lost money from the BTC dropped to $ 6,000. I want the money guys do not use the game dump, pump to take profits.

I think it's good news, as long as it's not required to be used for bitcoin users it's no problem for me. bitcoin banks will make the outsider's and government's view about bitcoin better, at least. because the government will certainly find a way that bitcoin users can be controlled with bitcoin banks and certainly many people will get to know bitcoin from the existence of bitcoin bank. of course they (bitcoin bank) will do promotion and attract many people from outside

It's about the exchange, not about the bank you're saying. Now all countries have started to legelize bitcoin. so there may be small banks around the world, but do not get rid of state bank officials, just provide a bank for digital money users or fans.

Bitcoin's exchange rate has now surpassed $ 10000 after a series of positive news came to the cryptocurrencies market recently. This is expected to be a bit better with Bitcoin in 2018, assuming Bitcoin's exchange rate to reach $ 50000 by the end of 2018.

At this first quarter alone BTC had shown enthusiastic activity  were price start to risen from a drastic downfall and if it will Continue to rise. 50000 usd is not hard to achieve investors and the big whales will start sipping BTC and if this will happen the supply become low and expect a sporadic spike of the BTC price this year.
 

In my idea about in bitcoin, bitcoin itself is the bank already. Now depositing in the bank I don't see the point of it, since we can store it in our safest wallet we know more than any bank I think we don't need bank to deposit our bitcoin profit. And it is not good to deposit in any bank, perhaps we can deposit only then withdraw as much as earlier.

A group of 13 experts have suggested Bitcoin will be the best performing of all cryptocurrencies this year and could shoot up to a value of $14,928 by March 1 and hit $43,472 by the year’s end more than four times the $9,200 it’s currently worth.

As I have notice the bitcoin growth right now was succesfully increase it's value different from the past weeks.I think becuse of investors buying bitcoin and altcoins that's why the cryptocoin especially bitcoin will pump it again.I hope it will continue to increase until next month and lets say every month pass by.

I even thought it was a good news, never knew it won’t make sense. By the way, this is not the first group that claims to be a Bitcoin bank, I have seen lots of them, even saw one on Instagram that claims to be the first Bitcoin bank. All these are making no sense, cause you might end up getting scammed by them. There are wallets that are far much better than these, and you can even get debit cards to withdraw from ATMs as you will do in banks. So no need for these.

Actually, I believe bitcoin aims for the reduction of banks as for its decentralization. I believe our bitcoin tokens are safe in our wallets so I don't think bitcoin needs a bank thus it wouldn't create a bank by itself.

Just one more good one. EZ2DRIVE Auto group in Danbury, Connecticut, may be the first New England car dealership to accept Bitcoin (https://goo.gl/uzRAd5)

Another good news as of Feb 18, 2018, Bitcoin is getting on gear high. Hitting $11,000 mark on early stage of the year. Can't wait to see Bitcoin hits $20,000 as early as October.

Oh crap! I really wonder if some of you ever read before commenting. This stuff the OP called good news is stale news and there is nothing good or bad about having a new exchange on board which in a way decided to have more or less a bank setting.

Good that people can get their funds converted to fiat here, but it is nothing different from the exchanges we have already been using online. Also, check the article's date! Old one!! It was dropped this time last year.

That's good news for our bitcoin owners.

I believe that bitcoin will last longer in this store, because bitcoin is our dream.

my good news for bitcoin is to see it again as if it's a slight ease because of the overthrow of the past month that really affected me because almost half of that was missing from me but now it's quite a bit too much and somehow good bitcoin news will be triple that its price is in the year to be so much fun because of it

Dear, if you can open the link and see the detail then i think it is not a bank but it is an exchange.
So hope you will distinguish between bank and exchange.
We hope that bitcoin bank system will also start soon. Just keep hope for the best of bitcoin.

Its a good news alright. Many are accepting bitcoin because they see its usefulness. Bitcoin atm machine has been circulating all over the globe for quite some time now. We dont need a bitcoin bank, relly. Bnks are centralized and can be controlled by the government. One of the reasobs why bitcoin was made basically was to get rid of banks nd all its regulations. We are ok with how bitcoin is now and not to mention its rising value.

Dude, this is likely to be a scam! Why are you stressing yourself on this? Why not use a wallet and don’t you have a bank account? A Bitcoin wallet is already is enough for anyone that wants to make use of Bitcoin. There is nothing this self proclaimed Bitcoin bank will have to offer you, like seriously, nothing at all. And by the way, seems like the bank is available to those in Vienna, Austria. Well, I’m not interested. There are Xapo and Coinbase already.

Good news about bitcoin is the bitcoin was saying that it will be banned so i have to say that bitcoin are now accepting and the big country like USA has said that Bitcoin should be used for the digital era and this currency will then be at boom the crypto market is now good at now and the future is also secure because the bitcoin price is rising again and this will strengthen the bitcoin.

Only one bank?? :( I need one in india too

I agree with you dev, this is very good news with this view other countries about bitcoin will get better, and bitcoin will increasingly widespread all over the world. this is a very good first step, as other bank banks will emerge all over the country.

I would say one more good news. We all know how bad news has affected China when the government banned the conduct of the IKO and the possible ban on crypto-exchange exchanges. Large Chinese traders transferred their assets to Japan and Korea. After them miners. China loses its leading role in the crypto-currency world.

Bitcoin bank? will it give interests on holding btcs in their bank?

We all know about that issue in China that they banned the cryptocurrencies but it is not the lose for the cryptocurrencies because it is the lose of China because they let the cryptocurrencies which is one of the biggest opportunity to get lose to their hand and the Korea and Japan are now the leading Asian countries towards the cryptocurrency which will help them to overcome China's economy over the time.

I have a question will it give us a Credit or debit card for using btc atm, if any

If bitcoin has a bank that will be the center of the bitcoin circulation, I think it will eliminate the basic principle of bitcoin that serves as a decentralized crypto currency. I do not think it will lead to a change in repair because with the existence of bitcoin banks, of course bitcoin is no longer decentralized. Even there will be control of some parties that become bitcoin circulation. And if bitcoin is controlled by certain parties I'm afraid there will be cheating done.

Well,it is really great news to us bitcoin users because if that happen that there will be a bitcoin bank to stay we can use it easy and in that way it possible that bitcoin will being popular and recognize by many.

Do you know the names of those so called experts? Because even if bitcoin performed like that which is not that likely bitcoin will not be the best performing coin in the year there are going to be a lot of cheap coins that have a 10X increase or more so while I'm mostly invested in bitcoin and most of the time I do not look for other alts there is no way bitcoin will be the best performing coin not only in this year but in any year in the future.

World’s first Bitcoin bank opens up  in Mariahilfer Strasse in downtown Vienna, Austria and this is a good achievement of the bitcoin and other coins like Ethereum are good in number so now it is good to deposit our crypto coin in our bank and this will do a lot of transactions in the future so now it is good to open an account for us in this bank and to keep safe our coins.