Bitcoin Forum

Do you think that one day you could open Bitcoin wallet in your bank, along with your.ordinary bank account? And will banks have their own wallets? Or maybe they already have? There are some rumors that some banks are preparing themselfes to addopt the Bitcoin and give it to their clients as a new service?

I don't think this can ever happen. bitcoin is good as long as it is decentralized. also bitcoin is designed this way to help you not need banks and do everything yourself so why would anyone want to go back to using banks is beyond me!

but then again I see services like coinbase which are technically a bank!


where are those rumors?
what I have heard so far is that banks want to adopt "blockchain" not bitcoin.

No. Bitcoin was designed to bring back the control of money back to the people. Why would you want to store your Bitcoins in a bank if for some weird reason they started to offer it for deposits. You are in effect giving them control of your money and they will start exploiting it by using your deposits and start offering "products" to businesses and borrowers.

I hope you get the whole point of Bitcoin and be on your way.

Yes, so technically it was already happen ;)

In general I think it will happen soon with banks. As soon as they finally realize that bitcoin is here for a long time they will start to offer "bitcoin bank account services". I think the first signal of starting this process will be acquiring of CoinBase by some bank or bank group.

If governments can't create something (a crypto currency) that people would use like Bitcoin then they will try hard to control it and don't get me wrong but they could actually win as most of people seem to not give a damn about the features that Bitcoin brings compared to the other payment methods and using exchanges/Bitcoin debit cards is one example of that so I don't see how banks would be different.

Well.. if there are many people who use bitcoin and it is more popular than right now, i think it will happen Banks will addopt bitcoin and maybe they will open service for making loans in bitcoin not in fiat money.

i would disagree with most of the answers here, banks are so big that they think they can do what they want. bitcoin is against all what banks stand for? so what, banks will just let you deposit money wit them and let you open a bitcoin wallet. sure and there are also so nice to keep your private keys safe. people are dumb enough to fall for it and banks can make a profit. 

I dont think there is such a thing with bitcoin wallet into the bank and that is because banks only want to focus on the real money and not the bitcoins if they want to own the bitcoin  they start banks for bitcoins.

This is possible, but I wouldn't use it personally to be honest.

No, I don't think this will ever happen, and I don't want it to happen. The bit of freedom that we have now will be completely gone when banks put their nose into Bitcoin. More regulations, more strict policies, etc. Also, you will lose control over your coins once your bank starts managing your coins.

we are too much doing speculation and imaginating. one we can do now is keep using bitcoin to all type of digital payments or in real life transactions.
because bitcoin will grow up only if that still massive needed.

There is no way banks would adopt bitcoin into their system. Like Pursuer say, there is only ongoing research for adopting the blockchain technology from bitcoin. Banks don't like something they don't have control over.

It will never happen,due to the decentralization of the bitcoin bank will never adopt it, the bank maybe could adopt blockchain in to their system since the bank and others financial corporation are interested on it, however it is possible for them to make their own centralization crypto, but to adopt bitcoin it's impposible.

Dont think there are allot of people think like a biutcoin wallet into a bank because i dont think banks will compare banks with wallets i think they will seperate them and make both banks for both sides.

this has been discussed so many times before. bitcoin is the enemy of the banks so they will not start using it because that means they are making bitcoin legit or help if become legit and if everybody starts using bitcoin the way they should then they no longer will need banks and it means death of banks.

I don't think bank will ever have this types of bitcoin wallet assigned to their customers but few banks that are accepted or connected to coinbase can be considered as giving their customers a way to do bitcoin to fiat and fiat to bitcoin exchange possibilities. The word banks are slowly going to adopt bitcoin tech means they are researching on blockchain tech which will make them able to launch their own centralized crypto.

And why bank needs a wallet? if you're just heard about wrong rumors the correct rumors is the bank is starting adopting the blockchain system.
https://www.accenture.com/us-en/insight-investment-bank-challenges-blockchain-technology
http://www.morganstanley.com/ideas/big-banks-try-to-harness-blockchain
https://cointelegraph.com/news/why-banks-are-adopting-the-blockchain
http://www.bbc.com/news/technology-34278163

I didn't think about blockchain techology, I know that. I've heard that some banks do have their wallets because they want their piece od pie but they are hiding that from the public.

I don't think the bitcoin wallet will be in bank.it is your thing to be save well you private phasepass.

No i don't think that bank can open our bitcoin wallet soon because we don't using banks if nbi told us that they are going to open our banks account then how they do it? if we are using bitcoin wallet? first thing is we use bitcoin wallet to be safe and more secured on our personal information.

I don't see why that should not be possible.
Banks are searching every possible way to earn some extra money. Why shouldn't they use the chance and offer customers a secure way to buy and sell bitcoins?
They already have the details about the persons, so they don't have to collect them extra like other sites.
Earnings could be created by transaction fees.
If customers like that, why not?
Personally I think it would give bitcoin a much more legit image in public opinion and that would help to increase the community.

There will always be companies trying to get their piece of the pie but, it will be on the people using BTC to not let the big businesses gain some form of control over the system and technology. It will be interesting to see in the future what the mass population will want done once Bitcoin has gone through mass adoption. There will always be people too lazy to do their own research and take the time to learn about the technology. Plus, mob mentality makes people stupid. Hopefully, it would end up like New York's Bitlicencing where the Bitcoin community shows government and big business that this is something they can't control.

i dont understand why people think this wouldnt happen or this would cause bitcoin to not be decentralized....
first, that would a be a simple bank service(open a wallet and manage your funds)... imo that's about to happen, right now banks are trying to resist bitcoin but they will eventually give up and accept it.
second, that wouldnt have nothing to do with bitcoin decentralization. again, it would be a simple bank service to people how doesnt know nothing about bitcoin, computers and security. most investors doesnt even not what is a malware so a service like that is normal and already exist (wallets like xapo do something like, a fisical bank would be even simple).

So, bitcoin is an currency/asset and banks handle currency/asset... do the math.

banks have a legal contract to only handle fiat-fiat transactions.
i say this because you cant buy shares directly from an ATM or from the cashiers desk of a bank branch

however, their subsidiaries offer non fiat-fiat services like purchasing shares, stocks, etc.
but still has to involve fiat on one side of the transaction.
EG a bank cannot swap an IBM share directly for an Apple share without routing through fiat in the middle.

so we wont see bank branches offer bitcoin at an ATM or bank branch cashier counter.
we wont see a bank subsidiary being an exchange.

but we could see a bank subsidiary acting as a broker.
but i still think this is something that is meandering away from the purpose of bitcoin and also adding barriers of entry by having banks more personally involved

I think it is impossible. because of the financial and economic system is different. bitcoin and the bank is very much different.

I am agree with you sir , where is there are big different in bank and bitcoin first thing is banks can be fully information and bitcoin is still anonymous where your privacy is really safe but in banks are not and banks are more on economics systems.

I don't think so that it will gonna happen because in many countries bitcoin is not used as a direct payment method and there are so many stores and banks where bitcoin is not accepted and if it will happen then bitcoin should be internationally accepted like USD, so banks and bitcoin wallet will not combine or merge.

There are allot of ways to store your bitcoins but i dont think banks where you store your money dont want to accept the bitcoin also because the have nothing to do with bitcoins and they are not really popular by the authorities.

Dont think there are allot of peope who love to have the same bank for their money as the same bank for their bitcoins no one wants taht i know that for sure!

maybe it can be happen in future, because beside we have an account in bank, we can have bitcoin in our account and this can make bank can make identify about sending and receive fund in bitcoin, and if someone make an illegal activity in that account, bank can easily to block the account and make clarify to the owner of that account.

I did not read any of the replies that started with "I think" because that should have been obvious to any one reading.

Banks are only interested in the blockchain,bitcoin has nothing for them other than something they can steal and twist into a product that they can profit off. So bitcoin and banks will not happen on any serious scale. Just look at how banks are dealing with weed in Denver! Legal yet still the banks have a moral higher ground and yet no one asked them to judge where the money came from.

honestly this is a very good idea but difficult to happen because the government is still an obstacle to this maybe bank want to do this but government will not let it them to do it.

You dont understand bitcoin if asking that. You should go so some research about bitcoin more. Especially about the blockchain and how it works. Also look up "decentralized" .

In Bitcoin, you're your own bank and then you want to put it in a different bank. It kind of takes away the essence of using Bitcoin. There's actually a way of using the bank as a security for your Bitcoins but you'll not be able to store your coins in a bank. To make use of the bank's security, all you have to do is print out the private keys of the address that holds you coin. Then put that print out in a bank/bank vault.

Yes maybe it could happen because in my country like Paypal accepted by some banks. And it is very possible for bitcoin to be accepted in the bank, but that certainly needs many changes in bitcoin order to enter the bank.

Yes the news is true, I read about it this morning in the "Press" section. Said some "small" banks in Europe are thinking of giving their customers the option of having a bitcoin wallet attached to their bank accounts. :-X

This would remove the entire logic of bitcoin!

Yes it's possible but in different form. But what is the sense of having bitcoin account in bank if there are online exchanges around which is far less hassle.

Also I don't hear any rumors that bank will adopt bitcoin itself but rather create their own blockchain. Just need a clarification on this.

Banks are interested in the Blockchain technology powering Bitcoin and not in Bitcoin itself in general. They will most likely use the technology to make their own Blockchains bolstering their own assets so I very much doubt it that they are going to offer Bitcoin accounts to their customers. Plus Bitcoin will be competing with their other services so why even bother?

There is a big difference between what the banks are doing and what Bitcoin is doing. Bitcoin is PUBLIC & decentralized and the

Blockchain based technologies that the banks are developing are PRIVATE and decentralized but it's still managed centrally by them. They

can decentralize the technology within their own Private Blockchain. Bitcoin is also open to everyone, where these technologies are

permissioned. THESE points are VERY important... and makes a huge difference.  ;)

Banks will never love bitcoin and allow direct deposit via bitcoin or host any bitcoin wallet themselves. Using bitcoin they can't suck high fee or can't lock accounts without reason like they do daily with their customers account to get profit out of blocked funds as well with any fee/fine associated.

it's still pretty hard-to-see and a difficult thing to expect in the current time, I do believe something like this might become a reality in the future but currently exchanges are having hard time just to open a bank account rather than BANKS running BTC clients...

in present time i think there is not a sing bank where they accept bitcoin and have wallet for bitcoin but i am hopeful that a time will come when we will be really use banks for bitcoins withdrawal or bitcoin deposits.

I don`t know what will be the benefit from that.

We can use bitcoin without banks now and there is no problem.

Maybe buying bitcoins will become easier,but banks will take control over the bitcoin.

It looks like I may have spoken too soon about this. According to Bitcoin Suisse founder Niklas Nikolajsen European banks may start offering Bitcoin wallets as early as then end of 2016. I still will not believe it until I see it but this will be a huge boost for the legitimacy of Bitcoin if they start offering Bitcoin wallets as an option for their services.

Source of the news is here - http://calvinayre.com/2016/09/21/business/european-banks-will-offer-bitcoin-wallets-soon/

serioussly?

first of all paypal and bitcoin are different (except as a payment method) bitcoin is a currency while paypal is a service for paying things online that conected with your bank account.

secondly bitcoin is impossible for bank to adopted bitcoin in to their system, due to the decentralization of the bitcoin, they can't controll it so there is no way for them to adopt it, they only interested on technlogy behind bitcoin, the blockchain and it possible for them to make their own cryptocurrency.

Yes it could be possible.  But of course they need to study it first on how they will incorporate it.  Especially now that banks is a way for me to buy some bitcoins.  My bitcoin wallet uses bank service if we want to buy bitcoins.  And now that in New York, bitcoin is ruled as a legal currency then maybe banks will put into consideration to accept bitcoins and make a bitcoin wallet.

i dont think so this will happen, or happening soon.. and if this happens, dont you think banks will take control on bitcoin? we are already using transactions in bitcoins that is same as the banks..like paying bills sending money and the like.further, we use bitcoin nowadays with no intervention of banks.

yeah I really hope that it could happen. may be very easy for you to use bitcoin. because you will easily make a deposit into bitcoin or withdraw to fiat?
maybe it will happen when the user bitcoin has reached half the human population on Earth

a half population of human in the earth is a good reason to make a bank of bitcoin that can change it into fiat. But didn't you think that use bitcoin is more practicaly than use fiat. I mean how if make a transaction in buying and selling just by scan code of our smartphone, this is will gonna be cool, isn't it?

if somehow, someday the number of bitcoin users reach half the human population in the whole world, in that day you wouldn't need banks at all because it means bitcoin is being used just like fiat is being used.

in other words you can get paid with bitcoin instead of your salary in fiat and then spend bitcoin instead of fiat everywhere including grocery store, paying bills, restaurants, ...

in such world you wouldn't need banks to deposit fiat to buy bitcoin and withdraw fiat after selling it. it would be like saying deposit gold to buy dollar!!!

I am not aware of new York stories which you said, I know that citi bank gonna adopt the bitcoin and we can via bitcoin to the bank which we have with citi account. If bitcoin comes with banking applied rules. I am sure citi bank will be the first one.

I hope not. If bitcoin will be integrated into portfolio of banking services it will be exploited hard. Do we honestly want that?
If you don't trust in your ability to keep your bitcoin safe, then we already have online wallets for that.

Maybe people expect that bitcoin can be used to create something like savings account where you could receive interest - then I need first to see how exactly it will work.

It's definitely possible that some day banks might accept Bitcoin deposits. Not sure they will actually have wallets for you to store your Bitcoins, the Bitcoins you deposit will probably be converted automatically to regular currencies. But it is also possible that they develop their own cryptocurrency instead of adopting Bitcoin.

Everything you say is true, because the banks will certainly profit from any of the things they used to do. Because the bank is a company that does require money (profit) for their growth, so it will be difficult to continue if the bank gives a rate equal to or greater than the rate use the money

even if that becomes possible someday, that bank will be something like coinbase. it means people who choose to use a bank instead of a normal bitcoin wallet will be forced to give up control of their private keys and their money (bitcoin in this case) and trust the bank to keep it for them just like what coinbase is doing.

the only upside to this can be possible profit that banks (unlike coinbase) will pay to deposits. but the downsides are a lot more.

I also think that if anything related to bitcoin will be adopted by big banks that's going to be some bankster-shitcoin. They don't like things beyond their control ergo no BTC accounts.
Besides wouldn't it be against bitcoin philosophy? Those are money invented for US to trade, play, have fun and earn in the internet's not them banks
Having the basic knowledge of crypto now would make us sceptical clients, why store my coins in a bank when I can do the same on my own, free of charge? Not to mention private key issue... I think that banks will never adopt BTC on their own and its a good thing. We dont need them, we never did.

Banks will have their own wallets, from which you can send/receive Bitcoins. One bank will start, others will follow. In banking there are not so many new technologies, so I think banks will start to implement Bitcoin soon.  ;)

It will be posible one day for every bank and they will use bitcoin system and customers of bank will use bitcoin wallet but i m not sure how it will be bitcoin wallet when the day come  i mean bitcoin wallet system can change too and we can use different bitcoin wallet system in the bank .

I think its not because bitcoin have already bitcoin ATM here in my country that only bitcoin that you can deposit and withdraw..
Its just like a bank but the difference you dont need atm card only cellphone with your wallet that you can send and deposit and withdraw using atm and cellphone.

Why don't you keep it simple instead of making it complicated? Do you really that eager to pay fees to banks? You don't need banks. Fuck banks.

You only need a  Harddrive. Or just a USB flashdisk.(for the wallet file) You don't even need those. Just write down your privatekeys and keep them in a safe place, that's it.

Yes, it might happen. Just imagine coinbase gets license to run a traditional bank, what will happen ?
As you stated we will be getting a bank account along with bitcoin wallet. As long as bitcoin sticks with its core concepts, there will not be any problem for bitcoin community even banks will be having their own altcoin versions.

Getting your money on a bank is like the current situation: centralization. And that is exactly what bitcoin doesn't want. What we want is decentralization. Because yes why should a bank be the owner of your money? Decide how much you can deposit or withdraw? For a few cents interest a year, you are giving them a lot of power on your money. Think about that for a while and you will know what truly makes bitcoin worth your while.

not that many people use coinbase and surely not that many people even like coinbase. it is a good place to buy bitcoin only because it is easy and understandable for newbies who are technically challanged.

but real bitcoin users will never use coin base they will continue having their own wallets to stay away and independant of banks and the like.

I'm not sure why it's such a big deal that you don't control your private keys. Surely it's not because you're afraid Coinbase will run away with your Bitcoins? I mean keeping your money in the bank is the same thing isn't it, and banks don't steal people's money. Also your coins on Coinbase are insured against hacks and theft.

Yes, i want that. Bitcoin wallet and bank can coorporate together. I'm sure many people want this too. It might be happen, if banks start accepting bitcoin as a currency. because bank is still not accepting bitcoin nowdays.

Bitcoin is an alternative to fiat currencies.
Banks are only interested in fiat at this point in time.
It would be interesting to see a bank start accepting cryptocurrencies, but its not going to happen any time soon, because Bitcoin is a competitor, and they are not going to promote a competitor.

Maybe we will eventually see some local credit union start accepting Bitcoin or some other coin.
But I don't think that will happen for a while.

Firstly,the concept of having a bank is really against the principles of bitcoin.Secondly,if a bank is in control of your wallet,how's that "your wallet" again ? Technically,that's centralizing the chain.I could further disagree with every line in the post which has the term "Bank" in it.The reasons are too detailed to explain in one post.The rumors you're hearing maybe true but that is not bitcoin,it will be a centralized digital currency and the transactions won't be open to public but the bank authorities.

If that happens,it will kill bitcoin.The whole idea of bitcoin is currency without any middlemen.If you need bank to create a wallet,your bitcoins will no more be anonymous.Some banks are considering to adopt blockchain but I dont think any Bank will accept bitcoin

Soo you wanna to banks allow you to deposit your bitcoins at them? For what to they control and know how much money you made over crypto world, or to have to wait business days to be able to moove your coins, or to you request the banks to moove a big ammount out from the wallet, this is insane my bank its blockchain wallet, i dont need any other between me and my bitcoins.

Bitcoin will lose their characteristic and other from that the bank will try for putting a task for their customer and that is will be worst things in my mind because bank having possibilities for making any intervention in the system of bitcoin.

When the governments will approve bitcoin and they will allow their banks to accept bitcoin then the banks will create their own wallets and they will invite people to create a wallet with them to continue working with bitcoin in their banks.

I also do not think they will do this anytime soon , I really hope they will of course but the chance is just so small, maybe in the future there are some chances.
Banks are already busy with their own coins these days.

I really don’t believe in this story. The decentralization of crypto currency is a strong opposition to the current banking system.

We don't need bank from bitcoin, as long as the decentralization of bitcoin is existing. Because once bitcoin is being at-touch with the bank it is no longer a good idea at all. The meaning of bitcoin will be change at once.

according to threads and post I read on this forum, banks will not support bitcoin because bitcoin system is far different from bank system. so people just say that probably banks will create their own coins, but I didn't see what their efforts to create coins yet. imo

I think it unlikely that banks accept deposit bitcoin someday.

Two weeks ago a Dutch bank (http://www.coindesk.com/no-abn-amro-isnt-releasing-bitcoin-wallet/) posted on their website that it was going to release it's own bitcoin wallet, running within the normal client banking environment.
They quickly took down the page, claiming it was an experimental idea from a few years earlier.

Personally, I don't want it. The whole point of bitcoin is being in control. I'd love to have more financial services without banks, stocks for example.
I've been thinking about "stockchain" for a while. Wouldn't it be great if a company sells stocks, but instead of buying them through banks/brokers, you buy them on a blockchain. Just keep the wallet or your private key long term, or you can sell them, give them away, pay with them, or even gamble with stocks directly.
A blockchain ETF with very low cost could have amazing possibilities. I should create a topic for this :)

Why you need to complicate things alot and what is the need to do that.Bitcoin wallet doesnt need a bank because because are not like paper money or they are not physical currency.Bitcoin wallet is itself like a bank of bitcoin and i dont see that ever happen.

I think it is because of the scams that are happening. We tend to go back to those industries that serves for protecting your money and those are banks. With its history of being a good storage place, some thinks it will be better there. Problem is there is no physical thing is seen with bitcoon.

thats true, it is really cool that we dont need banks when using bitcoins, i think that bitcoin wallet is the best

Bitcoin is already decentralized currency, so basically we don't need banking accounts when we use it, unless if you need to convert your bitcoins into fiat .

The banks has a limit protection to your account as well, as i know and there are already several wallets providers that allow each of us to save and protect the coins. I really dont see why i should trust my bitcoin into the bank and became dependent from rules of banks and countries again. And scams will steal your coins only if you dont care about the security of your coins.

Bitcoin wallet and keys in a private vault in the bank - absolutely possible. But whenever I need to sell my coins, I need to go to the bank's vault, go through security checks, scan the keys, do the transaction, then put the keys back into the vault again.

Unless I have 1000 BTCs, I won't do that.

Bitcoin wallet is already a lot better than banking account, you can hold your coins and making your deals without having to pay monthly or yearly taxes and fees.

Most bank accounts have low/ no fees. And they also pay interest.
Plus they are insured (to a certain extent) against losses.  ;)

If this give benefit to both bitcoin wallet and bank, why not ? I'm sure bitcoin wallet in bank is really good idea, many people will use it for sure, because it's more safe to place your bitcoins at the bank.

The interest rates that banks are paying world wide is almost nothing when comparing against the returns we could get from bitcoin investments. Moreover in some countries, banks are having negative interest rate.

Even banks are having insurance for our savings/investment, bitcoin is more safer than banks as it is highly protected against robbery/hacking if we follow proper measurements.

although I wanted that to happen but I think it would have sounded impossible to occur. when you can use bitcoin bank and simultaneously because of the existence of a relationship, there may be no exchange sites anymore, because you can easily withdraw to the bank.

banks are easy to use like bitcoin wallet does and it has more future than bitcoin , you can loan item or installement item using bank accounts but bitcoin does not i think banks are more reliable than bitcoin and has more potential to grow than bitcoin if bitcoin will accepted on market or we could use it to pay online then i will choose bitcoin

I think here in my country they are already business partner bitcoin and banks.. they are perfect couple because you can anytime withdraw your earnings into bitcoin unlike before that we need a buyer or exchange site to sell our bitcoins before you can send the payment to western it takes a long time before you can get unlike instant..

No, banks never liked anonymity so Bitcoin is like their enemy. Bitcoin cannot be taxed, Bitcoin is very very hard to be tracked. Maybe there will be an Bitcoin institution one day, like a bank just for Bitcoin where you can open your own wallet, and have ATMs everywhere around you. That'd be nice.

Actually, Bitcoin can be taxed, but only if the person in question declares his/her coins. If you don't declare your coins, there is nothing to be taxed.

I don't think the banks are able to have partnership with bitcoin because of its anonymity and they are treating that as threat to their business. But that is the only way so that they are not going to have competition in the market with financial management. And that is going to be a good move by the bank to reduce the risk and threat to their business.

I doubt, Bitcoin is so different that I doubt any old fashion bank will adopt it in the current time, If bitcoins do go that mainstream there will be new banks for it I think rather than the traditional ones.

Yes, definitely banks with the bitcoin wallet will complicate the system, what we are having right now. It will greatly affect the convenience we are having while dealing with bitcoin wallet. In my opinion banks are too cruel, they will impose unnecessary rules and regulations that will affect our privacy and freedom. I really do not want banks to adopt bitcoin.

Coinsider CoinBase. ;)

How can that be possible? Bitcoin is independent, but not something that can be controlled by an authority like a bank, how can banks give their clients bitcoin wallets or something like that while they can have no access on them? When someone can save their bitcoins on their on computers or mobiles why would they prefer a bank for it to make it known to all that he has bitcoins?

Bitcoin wallet is the bank, that is the idea. If you think about bitcoin bank, that will hold our bitcoins, give us credits and other benefits we need to receive salaries in bitcoins, and that is probably far away.
Now situation is good for me, I keep my coins, I know how much I have and how much I can spend. I wouldn't like banks to get into bitcoin. They ruin everything they touch, so best would be they to stay away from blockchain.

Its a bad idea because people are using bitcoin wallet for ease. Every person using bitcoin have their own wallet so why would they go to the different banks for their wallet if they can use these bitcoin wallets easily without any interference of banks. It is not convenient to use bitcoin wallets of different banks.

I am also preferring to have bank and bitcoin wallets separately, mixing them will not give me any advantages in my opinion too. Moreover by having them together, I will be forced to lose some of my financial freedom, I am right now enjoying with bitcoin wallets.
Really, I could not speculate what is the advantage by having bitcoins wallets within bank accounts.

it's not only a hassle, but it's also not needed. why would you store your precious coins in a bank when you are your own bank with bitcoin? isn't this the reason why we as bitcoiners like bitcoin so much? we are finally the only entity with control over our wealth. i wouldn't want banks to incorporate bitcoin. i like how bitcoin is right now.

mixing these two doesn't even make any sense. they are two completely different things. although both are used to keep money but they are so different at the same time.

with banks you are keeping your fiat and you give possession of that fiat to the bank to hold on your behalf which is based on trust. and they handle everything like transactions.

but with bitcoin you should be your own bank and if you want to give up that power (being your own bank) then i don't see any point in using bitcoin anymore.

For absolute newbies, banks would offer a secure place to store bitcoins. Plus they would provide insurance on deposits.
Banks accepting bitcoin would evolve and have a totally new business model.

I don't think you would want to trust the banking industry with your Bitcoins. They are against Bitcoin by and large, as it threatens their establishment.

I think it is pretty possible. But unfortunately in all mass of people bitcoin is still not to popular and known in general. But when it will reach that level at least in some country as United States banks probably will organize something like bitcoin wallet and will work with bitcoins as well.

You can do foreign exchange and stock trade with most banks, if some bank wants to also add cryptocurrency trade it will just be a small expansion of their services.

I don't see the point of them having accounts in another currency other than the country they operate in.

yes i am 100% sure that a time will come when we will be able to use banks for bitcoins, actually banks will accept bitcoins and they will create separate wallets for it and then we will be able to use banks for bitcoin.

You may be right, but if banks adopt bitcoin that might give bitcoin some extra boost to spread out everywhere rapidly. In other words bitcoin will get free promotions and almost every citizen of this world so that they will come know about bitcoins. But, at the same time we might need to loose some of our freedom on using bitcoins.

Bitcoin itself will gain its popularity, so there is no need of any aid from bank system. In my opinion, bitcoin is here to replace banks, so adoption of bitcoin by banks may delay that. Maybe banks will start some other services to find its way of surviving. Still, bitcoin will conquer our traditional banking system.

If the banks started to adopt bitcoin then they will like to start their own wallet oin order to have control on transactions and to have a record of bitcoin users in the country. That will be a bad time as well as a good time for bitcoin users as with that some restrictions will be started from the bank and government while with that the citizens will get the guarantee of their money in bitcoins.

I dont think bank is going to adapt bitcoin soon, and i think a lot of user wont be too excited about that, because the main reason the user used bitcoin is because they can hide their identity when they used bitcoin, and if we are going to store our coin in the bank of course we need the identity and all documents to open an account

If Bitcoin ever gets to the point where a ton of people view it as a decent currency and it starts to be used a lot in daily life I would expect for there to be a number of people who would be interested in keeping their Bitcoin in a bank to avoid it being lost due to their own fault, and those who still care about security and anonymity would likely number close to where we are today. Maybe a bit more, but I don't think anyone currently using fiat currencies and don't use Bitcoin are interested in having added anonymity.

I really hope this never happens although I'm sure some banks will try it. Why use a trustless system if you're going to trust someone with said trustless system? It's just backwards. Did you want to give the banks all of our air and we can withdraw it when we need it? Oops the bank is closed on weekends. Nice knowing you :)

I think just like you said,the purpose for satoshi nakamoto for creating bitcoin is for freedom.Like we all already know,now the money that we using in our real life is controlling by central.Bitcoin is the coin that exist for fighting this type of money.Just see today,1 bitcoin is worth more than a hundred dollar.

Yes such thing can happen but for that we need a legal view of government so in other words, government must legalize bitcoin and crypto currency technology. If bank starts accepting bitcoins then it would really change the fiat and crypto relationship.  Through other point of view, what is the meaning of privacy if banks would keep record of our bitcoins?

there is already a couple of banks accepting bitcoin, one of them is called Coinbase. you think it is a wallet? think again.

you are giving up all the control over you bitcoin just like with banks and fiat and they hold your coins for you, they can do whatever they want with it like investing and other stuff again just like banks. the only difference is that banks give you a profit but coinbase doesn't.

I don't know that coinbase is a bank. I know that it is just a bitcoin wallet provider and also using blockchain technology. I don't believe that coinbase is a bank or maybe you are referring to coinsbank? But if this is going to happen the bitcoin wallets are being provided by the banks, well another high fees we are going to shoulder.

Bitcoin is decentralized. If you stored your Bitcoin in a bank, you give them control and that takes away the point of Bitcoin. Just store it yourself and you will be much safer.

It will never happen. The bitcoin currency is a competitor to the established banks as it is. It would make no sense that banks allow you to store bitcoins.

What would be possible though, is that the banks make their own crypto currencies. This would actually be very likely to happen in the near future.

Your statements are really funny but unable to ignore them. Bitcoin has the power of providing free banking services to each and every human in this world, so when people realize the true potential of bitcoin they might start forgetting using bank system imho too.

Not really, most of the people will still trust bank. Bitcoin indeed has a very good system but it is not good for business who will transact with a big amount of money, bitcoin has no insurance and bank does. I do not see it will replace the current banking system. People need trust more than the system itself.

Not everyone will forget using bank system because not every people would turn their faces to bitcoin, and that is the reason why banks wont make wallets for their clients to keep bitcoins in them as bitcoin is already a threat for banking system as it is something that does not have any tax or other systems not it has any big fees or transactions or other things, so why would banks introduce a system that can challenge their priority among their clients?

i agree with your  point. Yes, why would you want to store your bitcoins in a bank if you already has the control over it? Storing in a banks means giving them the right to take over and control of your money. plus of course, take note of the high transaction fees. Im prettyvsure if the banks will take control over it then they will probably impose high transaction fees. Who would ever want that to happen, right?

Some people want to store their money in banks because it helps them to feel some sort of security or whatever knowing that the safety of their money rests in someone else's hands, and this can be a good thing for them (in their opinion) because it means they won't be responsible if something goes wrong and they lose their money. It makes sense in some ways, and doesn't really make sense in others.

If they haven't yet the bitcoin wallets then I think that they are planning or have the plans how to do it, but if I would use them I don't know maybe not because they can bankrupt and freeze your funds because if they don't provide the private key means that they are holding your money.

currently there is no such thing in my country because government and banks in my country only accept traditional currency such as my local currency or dollar and they hasn't admit bitcoin as the currency that's why banks will never open their bitcoin wallet even though there are several rumour banks will accept bitcoin as a part from them but untill now i didn't see that happened so for now in my country there is not possible to see banks will integrated with bitcoin

That would defeat the purpose of bitcoin being a decentralized currency. What is possible is for banks to create a new product, somehow similar to bitcoin and offer it as another investment. Or they could just offer this new service to their online banking client as another added value service. But bitcoin as is being used by banks to be offered should destroy it altogether.

People tend to forget that bitcoins key role is that is it decentralized, with other words it's not owned by a single person or company. the moment several large entities hold many bitcoin they will be holding to much coins and that's not positive for bitcoin. Especially since we want to keep using it privately.

Hopefully it's gonna be a crazy change and j am ready to welcome this change. But I think if we have bitcoin wallet in bank then they could alter my account.

I totally agree with this idea. But we know the bank they wont let it happen without profit in their end. That profit is not just small for them if a lot of users will be using them as a means of a wallet. Even with small amounts they could enlarge the profits using their advertisements to pull interested people.

Of course its good if Bitcoin is accepted by banks but that can only happen if the government legalized the use of bitcoin in the country. But, you should know that not all countries or government is willing to fully legalized the use of bitcoin. But that happen I think it will be a big step forward for bitcoin.

This would actually be a nice conversion at this time, however the bank would probably try to charge you fees out the butt!!  The banks are only into this all for money and unless they can make a buck, they have no interest.

i think bitcoin wallet is important in bank and then we can easily use bitcoin and then a lot of people will be get awareness about bitcoin and i look that many people do not know about bitcoin and if bitcoin wallet allow in bank then i hope more people will be use bitcoin and know about bitcoin .

I think the best way is putting you paper wallet in a safe box in a bank if you have a lot of bitcoins.

And well, maybe split the bitcoin in various wallets for security reasons.

This could happen, but as we know that Bitcoin isn't supposed to be like that. There will maybe some banks making this kind of service, but there won't be many people using it.
You can't treat Bitcoin just like an ordinary currency, Bitcoin is different.

ofcourse , i am thinking the same thought from last 9-10 months . because i think that everyone is coming in the bitcoin world and will start new service than it may be possible a new millionaire comes in bitcoin world and make bitcoin bank where we can open bitcoin account like bank account .

Why would I use bank to store my bitcoins, and why would I use them to send and receive my bitcoins?
I can do that without them, and I don't need them, all they can add is some fees and their profit on my money. Like this now it's perfect, and I think this with bitcoin bank accounts or wallets can't pass with people. Only way for me to accept this is blackmail, to make that like necessary to have if we wish to use bitcoins.

yeah , this service is now very soon will start because the blockchain already contacted the banks of many countries ( recent days in india )  so this news directly reveals that the blockchain is looking to provide a direct fascility of use Bitcoin like fiat in bank .

I am sorry but I have not heard any news about that, anyway are your from India?

If that will happen then we will lose our opportunity to transact in an anonymous way because banks do not normally allow under their strict implementation of the KYC Policy.

Bitcoin = Descentralized
Bank = Centralized


I really don't understand why, just keep your own wallet safe and enjoy the freedom!

perhaps in the near future will see more often this type of proposal, initially the bitcoin was  created to not depend on third parties. but every year more and more people moves their money to bitcoin.  The banks basically always want our money so in the future probably we will see something interesting regarding bitcoin banks. ;D

Yeah I have not heard  about any news about that too. national bank of my country was trying to do something like blockchain did too. I watch it in my regular tv show a few month ago. they said that people are very very interested with mobile transaction this day. And it will be a big business in the future. May be bank will make cooperation with blockchain which have the better experience of mobile transaction. But if it is realy happen, it will give a chance for the goverment to rule bitcoin, atleast goverment will have a change to force bitcoin users to pay tax.

I dont think so,  that these things would be  implement  by the government hence bitcoin is  uncontrollable  which means  government dont have any access into bitcoin and  as we all know   govt  would hate  this things  for sure  if they saw they would  not able to control bitcoin.

I as my research they planning to add bitcoin directly in bank so i hope it gonna be open soon. But maybe its took time to that projects so i wait that time happen to more secure our bitcoin. If that happen many more people do use bitcoin so the users of bitcoin are getting increasing.

Too many restrictions will you get caused by the wallet is a part of the bank and I think it's not a good combination in this time, I just realize the bank is very greedy for my personally and never wanna for saving my amount in the bank.

I don't think that would happen mostly because banks don't want to take bitcoin and adopt bitcoin anytime soon, I think bitcoins is a money of the future and the banks would also take BTC in the future but not now... I guess a bank could be profitable if it's giving profit in deposits "in btc".

Well it is not really going to happen unless the is going to make it as their business partner. But for me, banks are seeing bitcoin as a threat to their industry and I don't think that they are going to adopt it as the value of bitcoin doesn't have stable value and they are not going to adopt it as they are not certain about getting profit with it.

You can also save it in as many cloud storage platforms like drop as you can so that even if you cannot access it in the first device you stored it, you can still get your bitcoin back by going to the cloud storage platform to get you access details. But always having strong encryption on all back up is highly advised to secure our bitcoins. Without encryption there is no meaning in saving in multiple locations.

I was a little bit of doubt this could happen, and if this can happen I also doubt if the user bitcoin want to use bitcoin bank, because of course if they use bitcoin bank to save their btcoin the decentralization bitcoin will not matter right ? because they can control your bitcoin and they know you and your personal data

yes in future it is going to happen, as it is expecting that government will consider bitcoin as legal currency, so banks will also allow bitcoin for trading and depositing purposes, and therefore they will prepare wallets fo it.

No matter how strong the encryption of your paper wallets/digital wallet files are, it's a bad choice to store them in the cloud where they can get seized/stolen by whatever entity. Hackers getting access to your cloud are sneaky and smart enough to come up with a plan to somehow make your device infected to take it over in the hope you have saved up your passwords/encryption keys somewhere. It's of course an extreme situation, but it's risky enough to make it not a wise plan to use cloud for such purposes.

I am not sure who it was, or whether or not he encrypted his wallet file, but a high level member of this forum has been a victim of theft with as result that he lost plenty of coins. He was storing his wallet file in I believe it was his email box. If someone still remembers this, point me towards that thread if you can find it, because I can't.

No, i guess the cloud already becoming a good place for storing your backup and google drive already having an enough security for keeping your data in them are always safe, but about getting infected by malware or viruses are not gonna will for directly will stolen your cloud data and you need for sign in before for doing that.

earlier i also thoughts for the same things but that time it was just like dream . now in some countries this fascility will start soon . a recent news told about such type of bitcoin wallet bank in your bank money in local area will start soon .
now iam waiting for this type of fascility for my country also .

good news , i am happy to find this thread .
i am really thinking for such type of services .
i reads many post from these thred and found that many countries are allowing for this .
but some complicated things are that we need to give some extra tax for the transaction after government approval to attach bitcoin with bank ( for user ) .

What are your talking about? This thread is just a fantasy, it will never happen there will be a bank for bitcoin because the system is designed to be decentralized and anonymous, and we cannot partner with banks and adjust on their system as our system is already fixed.

What the hell but totally the posting above you are totally a spam post. we can't be mixing the bitcoin and bank absolutely never. bitcoin are made for securing my privacy and bank for securing their member. this is will never mixed into the one form.

Yeah i agre this should not be mixed, as an individual bitcoin earners there is a a separate wallet for earnings which already converted to the currency that you are using which can be cash out through a bank manually. So in exact point theres saparation between a bank and a bitcoin, it does exist in different ways.

If you have a wallet attached to your ordinary bank account then there is no use of bitcoin for you in a manner, because if you are using bitcoin you are anonymous to everyone in the community or the world, but if you have the wallet in the bank you are no more anonymous, it can be a threat for you to have a lot of bitcoins in your bank wallet but if you have them in your pc no one even would know about it.

I don't think that you have a good idea about Bitcoin. Bitcoin is a decentralised currency; meaning that it hates banks. I don't see why banks would want to incorporate wallets in Bitcoin. Moreover, if this happens, the Bitcoin community would collapse and may turn to other Altcoins.

Therefore, I highly doubt that Bitcoin wallets would appear in Banks.

:)

Bitcoin in banks = anonymity 0%.

This is exactly what they want: CONTROL. Over anything they possibly can. If they could control how much you eat and drink per day, they're more than happy to do so. Having a wallet linked to your bank account would mean your name linked to your wallet... So anytime you'd do a transaction, everyone would know who sent it and to who exactly. And I'm not even going to mention a word about the taxes we would see for using Bitcoin.

Bitcoin wallet in bank is useless. I think it is only give bitcoin a weakness, I qgree that if bitcoin wallet in a bank it will make us to pay fee or tax of our bitcoin. It will make bitcoin lose the decentralization. But if butcoin wallet realy in bank it will make bitcoin stronger and bitcoin will accepted in any country, also it will make bitcoin in the same class with fiat. And so many more advantage if it happen, but still the weakness is it will make govermemt rule bitcoin like fiat. But for costumers it is more practicaly.

I am sorry but I dont agree with you. Let see this in possitive side, if bitcoin wallet in bank, bitcoin will more stronger than now. And also bitcoin will recognized as currency by the goverment. So we can change our bitcoin into fiat or fiat into bitcoin in bank. And it will give the chance of bitvoin to be more popular and the price will e pump higher. Although we habe to pay tax to goverment for using bitcoin. It will be nice if goverment not take a tax of bitcoin.

As I see on bitcoin news banks are already started to get interested in bitcoin using and some of them are providing necessary changing to use bitcoin in their system. So when banks will finelly open that option for users is just question of time. I would like to my bank accept bitcoins and have bitcoin wallet on the same level and terms as they have euro and dollar wallets. That would be useful to me.

I think that anonymity is for a lot of people nothing really importatnt.
Sime want to invest their money into something else than fiat.
And if you could combine that with a few services a bank can offer, it could attract a whole new group of people to bitcoin.

I really don't think about that bitcoin will be replacing bank? For what reason? Bank for me is too old to be replacing and one of the trusted of real companies nowadays. And if there an plan that bitcoin will be replacing bank soon maybe is just a hoax news. And bank is much more stronger than bitcoin for real. And if there any chance that they gonna take it i think becoming partners is best choice.

That's right, the bank will not be replaced by bitcoin because the bank has a very long and very strong. Bitcoin is needed for saving people and for business development or the borrowing of funds. Although bitcoin will be developing, it is only limited to digital currency. But I think the bank will not cooperate with bitcoin.

Btcrocket or a website named something like that is the closest that you can get to a bitcoin bank. Daily interest, some deals,etc,etc... I can't tell you the exact name aince im on my phone and never viaited it here since ive found out about it yesterday.

I don't think banks will go on a speculative currency like bitcoin,there are still no ready made system that can integrate bitcoin with our banking system,the interest system is very much  complicated fo banks to handle .

it is a dream of everyone. if true integration between BANK with bitcoin will make the financial system has become very strong. BANK security system will ensure the strength bitcoin, everyone is not going to fear losing their bitcoin.

Even now very few fear of losing bitcoin from their bitcoin wallet. For now, as bitcoin technology is developing continuously with increasing adoption, bank were in a situation to accept bitcoin and provide it as a service to stop those people who are in a situation to leave banking and completely move towards digital currency network.

Government and taxes can not be separate, there will always be tax for bitcoin if you want store it in bank.
That's a good thing if we can convert bitcoin into fiat money easily in bank, but blockchain technology are totally different compares with bank rules. I agree that anonymity is one of good thing in blockchain technology and it would be gone if linked to bank account.

Well, if you earn $1.000.000 USD in bitcoin, working or whatever, when you go to spend it, you will need to pay taxes to government, there's no way to run... Or you can just hold it and don't spend   ::)
Government will always bite you at the end!

You have to realize some people are incompetent to handle their own money.

I strongly agree if bitcoin adopt the banking system. with so many more people trust and feel safe using bitcoin.
but must remain institution that regulates all of it, it will make bitcoin is growing.

I doubt there will be a lot of bitcoin user is going to interested in this kind of idea, most of them used bitcoin because they want to stay anonymous when they do transaction and besides that it is easier to do transaction using bitcoin, i don't need to bother to convert my currency into my partner currency when i do global transaction

Correct we can spend bitcoin directly in online transaction it is very convenient for me and here in our country we can cash out and cash in thru bank and i think bank will start adopting bitcoin in their system

I think for the future bitcoin wallet will be adopted by the bank since bitcoin is also a currency and bank is the main safe keeper of all currency and it is good for me to have insurance of our money in bitcoin waller.

good idea , may be is bitcoin bank can help to further promote and develop what is bitcoin

If this happened this is good news for user bitcoin, ease user bitcoin ..

What you are telling is to some extend good for new users who wanted legal status of bitcoin to use it . but for some users who dont want to get revealed about their identity and transaction they wont accept this idea as bitcoin itself is a bank and you can do online buying and selling goods

bitcoin is not that anonymous that you can hide your identity by using it. it is psedo anonymous actually.
and besides using a bank is violating more than your privacy and identity, it is making you beg for your money from them.

A online wallet connected in the bank is already happening now. But it is just for withdrawing purposes. The wallet site gives you an accouny and password then you will just have to input it at the nearest ATM machine that they own. I think that is a good step for now but do those banks know that they are dealing with a bitcoin withdrawal or the wallet site just have a large number of money in their account. I kept thinking about that.

Bank will not violate our privacy if they have complied to the rules of the government, they know our identify because we entrust our money with them and they should not share our identity so others will bad minds will not interest of stealing our money.

I think it's reversed, it must begin to adopt bitcoin bank, at least to add or withdraw a deposit system to bitcoin, of course it will provide convenience for users bitcoin

I think there is no guarantee that your identity will be kept safe and secure. there are times that the government or security instanso require banks to provide all the data of their customers and the bank had to obey it.
so actually there is no privacy for everyone in the bank. I think bitcoin will not be able implemented to the bank

I agree that banks are not needed to handle our bitcoin wallets. Since bitcoin as mentioned is designed in a decentralized form so there will be no need to have a prime authority over it. For me, my bitcoin wallet is already my own bank since I'm using it in safekeeping my bitcoins. Yet we have to admit that there are people who are not that skillful in managing their money, so maybe a bitcoin wallet in a bank could be practical thing for them.

I think government do not fully adopt the bitcoin because bitcoin do not have physical money it is just digital, that is why i do not think there will be bitcoin wallet in the bank even in the future.

You can put your paper wallet in a safe box in a bank however I think it's more safe you hold it with yourself.
Just trust no one and always have control of your life.

But banks and governments are getting digitized even in under developed countries due to its efficiency. So, there will not be a surprises that in future banks offer only digital financial support like internet and mobile banking facilities. So, there are lot of possibilities for banks and governments may adopt bitcoin for their conveniences.

You have no idea that current banking system is an illusion of stability and safety. I read article about Indian TV show presenting bitcoin to the people.  
I learned there that if 3% of people withdrew their money from their banks whole system would collapse.
In addition to that - Banks don't have the money stored in their vaults - money is used as investment instead.

I dont think  government  would allow this  kind  of   law or   implementation   because   fiat would  really  be affected  if   the people  of  certain country   would switch  to  bitcoin  economic state  would really be  unstable  on that country. Same as  other members  mentioned  here and  i  really agree  to that.