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Title: This could be the biggest news in 2022 Post by: Crypt0Gore on December 13, 2022, 07:57:06 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .
The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ Title: Re: This could be the biggest news in 2022 Post by: NeuroticFish on December 13, 2022, 08:11:01 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . With the recession knocking at our doors, it's not unusual to see banks that don't do great, especially as the banking system is known to be slow in adapting to changes (including adapting to Bitcoin). And if it costed only 15 million, I'd guess it's a very small bank. I don't think that Bitcoin Group went after the history of the bank, although salvaging a name that old is a nice gesture after all, I think that they went after the banking licenses. However, I don't deny it, bitcoiners buying a bank is a news I do like (even if it's not really in the spirit of Satoshi's white paper, but maybe we'll get there too someday...) Title: Re: This could be the biggest news in 2022 Post by: The Sceptical Chymist on December 13, 2022, 08:54:49 AM Never heard of Bitcoin Group or the bank they're buying (though I'm not German, of course). However, I'm not sure how big this news is, because based on the article Bankhaus von der Heydt was already dealing in cryptocurrencies:
Quote Bankhaus von der Heydt was founded in 1754 as a privately-owned bank offering traditional and digital assets banking. It became the first bank in German to offer cryptocurrency trading and custody services for financial institutions and asset managers. And $15 million for a bank is dirt cheap if you ask me. I wonder if their crypto business somehow got them into trouble financially. Interesting, but the title of this thread is pure clickbait. Title: Re: This could be the biggest news in 2022 Post by: boyptc on December 13, 2022, 10:09:43 AM Never heard of both of them. But it is the group that's going to buy them with the use or profit that they've made with bitcoin.
Well, the logic is understandable that it is bitcoin that's going to buy the bank. Maybe it's already been decided and whoever are the executives and board members of that bank doesn't have any other solution but just to sell it to the group with the said amount. But isn't that low if the price is $15M and that's a long running bank? Title: Re: This could be the biggest news in 2022 Post by: Kakmakr on December 13, 2022, 10:23:27 AM Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies.
We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. ;) Title: Re: This could be the biggest news in 2022 Post by: davis196 on December 13, 2022, 11:37:19 AM 1.This might be fake news.
2.Bitcoin isn't "buying" banks. A company called "Bitcoin Group" is supposedly trying to buy a bank. The company might be called "Bitcoin Group" but that doesn't mean anything(it doesn't necessarily mean that this is a crypto company). You could name your company "Bitcoin" or "Satoshi" and offer fiat financial services at the same time. ;D 3.Who cares if this is the oldest bank in the world? I couldn't care less, even if this bank was founded in 1135 or 1066. Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies. We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. ;) No bank can be "Bitcoin friendly" without the permission of the central bank and the government. Good luck trying to run a "Bitcoin friendly" bank. ;D Title: Re: This could be the biggest news in 2022 Post by: jackg on December 13, 2022, 12:34:32 PM I don't think that Bitcoin Group went after the history of the bank, although salvaging a name that old is a nice gesture after all, I think that they went after the banking licenses. However, I don't deny it, bitcoiners buying a bank is a news I do like (even if it's not really in the spirit of Satoshi's white paper, but maybe we'll get there too someday...) I wonder if they'll merge with the bank at some point. That's the reason I'd see for doing something like this (for an "established in 1754" title if they did buy the whole bank and not just a majority of shares). $15M sounds cheap for a bank though anf it actually could be negative news it's getting this much attention (if current investments in the are higher). Title: Re: This could be the biggest news in 2022 - in which universe? Post by: Lucius on December 13, 2022, 01:29:16 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . I advise you to look at the amount of the biggest business investments this year, and then it will certainly not occur to you to declare such little things as the jobs of the year. This amount is so insignificant that none of the big players will even blink at this news. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more Who says banks don't buy Bitcoin? Do you think that they (bankers) are so stupid that they announce it publicly and inflate the price of BTC and then pay x10 or x20 on the current price? And what kind of nonsense is Bitcoin buying a bank? Bitcoin is not an institution to buy anything - and I will not click on your link, because I have nothing smart to read. Title: Re: This could be the biggest news in 2022 Post by: stompix on December 13, 2022, 01:56:42 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . Bankhaus von der Heydt is not the oldest bank, not in the world, not even in Germany. it's just a shell of the bank it once was, in name only right now. Too many clickbait titles lately. And $15 million for a bank is dirt cheap if you ask me. I wonder if their crypto business somehow got them into trouble financially. Interesting, but the title of this thread is pure clickbait. It's a "bank" with 20 employees and one location, the previous and real bank with this name was once acquired by Commerzbank and it what is left now is just the name bought by somebody else in 2005, with less than 20 million in assets under supervision it's more like one of those FinTech start-ups than a bank. Title: Re: This could be the biggest news in 2022 Post by: Poker Player on December 13, 2022, 03:35:08 PM Bankhaus von der Heydt is not the oldest bank, not in the world, not even in Germany. it's just a shell of the bank it once was, in name only right now. Too mamny clickbait titles lately. ... It's a "bank" with 20 employees and one location, the previous and real bank with this name was once acquired by Commerzbank and it what is left now is just the name bought by somebody else in 2005, with less than 20 million in assets under supervision it's more like one of those FinTech start-ups than a bank. Lol. Less than 20 million in assets is nothing. I would say it is more like a collective piggy bank. I see in this forum quite a few cases like this that can be summarized in that many forumers have a clinical bias and magnify news related to Bitcoin, which analyzed in detail come to nothing. Title: Re: This could be the biggest news in 2022 - in which universe? Post by: savetheFORUM on December 13, 2022, 05:03:20 PM Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more Who says banks don't buy Bitcoin? Do you think that they (bankers) are so stupid that they announce it publicly and inflate the price of BTC and then pay x10 or x20 on the current price? And what kind of nonsense is Bitcoin buying a bank? Bitcoin is not an institution to buy anything - and I will not click on your link, because I have nothing smart to read.Considering how small we are still compared to banking world, if all the banks in the world spent just 1% of their investments on bitcoin, then bitcoin would have been 1+ million dollars already. The marketcap may look big, but the buyer amount is not that big usually, and that means if we have that much more buyers all of a sudden, in trillions of dollars really (banking world) then we would be a lot higher. Title: Re: This could be the biggest news in 2022 Post by: jostorres on December 13, 2022, 05:23:39 PM 1.This might be fake news. I search it up again in the web and found other crypto news sites are covering the same topic. I guess that tells that it was a legit news and not fake. The company called Bitcoin Group won't be called like that for no reason but they must be related to BTC and it seems I am right because again I did a research and found out this link: https://bitcoingroup.com/de/ this must be their official site because there is also post there about their plans of acquiring the oldest bank.2.Bitcoin isn't "buying" banks. A company called "Bitcoin Group" is supposedly trying to buy a bank. The company might be called "Bitcoin Group" but that doesn't mean anything(it doesn't necessarily mean that this is a crypto company). You could name your company "Bitcoin" or "Satoshi" and offer fiat financial services at the same time. ;D 3.Who cares if this is the oldest bank in the world? I couldn't care less, even if this bank was founded in 1135 or 1066. It's already a big deal if some groups related to crypto are going buy a normal bank, but how much more if it's the oldest bank? But we aren't sure if that bank will agree with the offer. @boyptc is right that $15m seems small for this. Title: Re: This could be the biggest news in 2022 Post by: Findingnemo on December 13, 2022, 05:32:41 PM We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. ;) "Be your own bank", is one of the primary reason why bitcoin was created so we don't actually need more companies to acquire banks and make it crypto friendly. Cause at the end if the day bank makes money from holding our money and lending it to someone to make more money which should be changed atleast with the evolution of Bitcoin era. Title: Re: This could be the biggest news in 2022 Post by: Hydrogen on December 13, 2022, 10:41:30 PM Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year Interestingly enough, FTX had also bought a bank. Quote Why did FTX buy into a U.S. bank owned by a co-creator of ‘Inspector Gadget’? Before FTX collapsed spectacularly last month, the exchange operated like most other cryptocurrency exchanges: in the dark, outside the banking system, and offshore. Cryptocurrency exchanges often struggle to access the U.S. banking system, and so they look for alternate routes to cash their checks: shell companies that hop from bank to bank before vanishing into thin air, dollar-denominated assets that can be cashed out abroad, or, in this case, simply buying a bank. “Buying a bank often has been a holy grail” for companies that have trouble establishing traditional banking relationships, says Carol Van Cleef, who chairs Washington law firm Bradley Arant Boult Cummings’s blockchain practice. If an exchange owns a piece of the bank of which it is also a customer, “getting debanked is going to be a little more difficult,” she says.. Crypto firms are hardly the only ones to try to avoid this fate by buying a bank of their own. SunFirst Bank, for instance, banked semi-legal poker sites from 2009 to 2010 after a $10 million investment from a dodgy payment processing firm before the FDIC shut it down in 2011. https://finance.yahoo.com/news/why-did-ftx-buy-u-150330319.html That news article is a good read. There is also a link in it to a story about binance considering buying up a bank of their own. Title: Re: This could be the biggest news in 2022 Post by: pixie85 on December 13, 2022, 11:18:51 PM Such a move can also be an attempt to legitimize yourself and put the deal into the media so that people think you're big, real and you're thinking long term, but in fact you're buying a cheap, poor bank that gives you nothing but a name and some headlines.
People do these things when they see a way to make more money on the deal so how does this bitcoin group want to make more money from the 15 million they're spending? Maybe they'll launch their own stable coin now and if anybody asks about backing they'll play their "bank card". Title: Re: This could be the biggest news in 2022 Post by: uneng on December 14, 2022, 01:35:51 AM Is Bitcoin Group a bank or an investment fund? I've read they have their own asset at stocks market which have increased in 5,50% today, and is continuously increasing since the announcement of the purchase.
These companies are bringing the old world of finances to the new digital world. It seems a good deal for both sides, because the owners of the old businesses (such as this mentioned bank) can also profit some money with something that, to say the truth, shouldn't have any significant cost anymore, because it's obsolet. Anyway, they are being paid 15$ million for that, while the buyers are already being benefited by the increasement of their assets' value on the market. Maybe this purchase inspires trust among investors. Title: Re: This could be the biggest news in 2022 Post by: stompix on December 14, 2022, 03:18:28 AM I was reading another article on this and when searching for the name of the owner this came up
https://bitcoinmagazine.com/business/bitmex-to-purchase-big-german-bank So, surprise, the biggest news in 2022 is just another try at an already failed partnership and acquisition, as this bank was supposed to be bought by Bitmex earlier this year: Quote The deal was signed by BXM Operations AG, a company founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz, and Bankhaus von der Heydt’s current owner, Dietrich von Boetticher. Details of the deal have not yet been provided, as the signing parties agreed to not disclose financial information relating to the transaction, which is pending approval by German financial services regulator, BaFin. BitMEX said it expects completion to happen in mid-2022. but the deal failed three months later https://www.coindesk.com/business/2022/03/31/bitmex-ceo-cfos-bid-for-german-bank-fails-report/ And from clickbait, this goes to non-news! ;D Title: Re: This could be the biggest news in 2022 Post by: Moneyprism on December 14, 2022, 04:22:52 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ i don't know what their goal is to buy the bank at such a low price, but I think this is very good because then they have obtained a banking license in Germany and maybe in the future they will launch a crypto-enabled digital banking service there .. and this is very good for increasing crypto adoption in Germany. Title: Re: This could be the biggest news in 2022 Post by: CryptoBuds on December 14, 2022, 05:11:18 AM Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies. This also happens in some banks in my country, when we trade to buy bitcoin or other cryptocurrencies, the transaction content must have nothing to do with crypto otherwise, it will be frozen immediately. It's also one of the ways the government blocks bitcoin.We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. ;) I doubt it's a good idea because all banks are controlled by the government. If bitcoin companies are acquiring banks, then it is very likely that the government controls those companies rather than we think the companies handle the banks.Title: Re: This could be the biggest news in 2022 Post by: xSkylarx on December 14, 2022, 05:53:04 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ It is big news because of bitcoin but the reason for this is I am sure that it is about the recession that we are getting into right now. All of us are affected by every business establishment and also banks are not exempted from this so either the owner of it sold it for its reason or the bitcoin group has the highest offer so they can't deny it. So far for this year this exchanges scandals are the biggest news and I am hoping that by the end of the year there are no bother scandals involving crypto so that we can start our next year great Title: Re: This could be the biggest news in 2022 Post by: Majestic-milf on December 14, 2022, 06:48:26 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . It is a positive step by the group and this intended acquisition would be the second deal they'd be sealing if at the end of the day, they don't change their minds, although such a purchase would see them become controllers of one the oldest banks in Germany and hence further increase Bitcoin adoption over there in my opinion.The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ Well just as the op has stated his skepticism, I'm also of the opinion as to where Bitcoin Group is going with this since this bid has been on since last year at the time when the asking price was $19.6m. Title: Re: This could be the biggest news in 2022 Post by: goldkingcoiner on December 14, 2022, 08:03:23 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ This is nowhere near "biggest news of 2022". I did read about this a few days ago and it was nothing special. 15 Million dollars are a teeny tiny blimp and the bank itself had nothing going for it except its reputation of being very very old. So there is absolutely no need to start connecting things that are not there in order to build up a large conspiracy theory which ends up being a giant nothing-burger. If anything the gesture was symbolic or a bad investment decision. It has got to be one of those two things, I believe. Title: Re: This could be the biggest news in 2022 Post by: Mauser on December 14, 2022, 08:29:38 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ Oh I must have missed that news, even though it's happening right under my nose. Never heard this bank name before to be honest. It seems to be some a very small investment bank that operates in the areas of Private Equity, Merges & Acquisitions and crypto currencies. With a 15m purchase price the bank can't be too large, even though they seem to be having offices in Munich and Luxembourg. Now I am wondering if they also have traditional banking business where a lot of consumers have their bank account their and deposit money, or if it's mostly a specialised bank. Acquiring a bank that is highly specialised and operates in some areas like cryptos is a good. What I don't like would be for crypto companies to acquire large consumer banks that hold all the fiat money. Crypto currencies where designed to be decentralised and an alternative to traditional banks, now becoming the banks themselves would be wrong. Title: Re: This could be the biggest news in 2022 Post by: kro55 on December 14, 2022, 08:46:58 AM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ In all honesty, it's not the biggest or most notable news because if this were big news, then it would definitely affect the price of bitcoin. In my opinion, the news that crypto companies are buying traditional banks or traditional companies is not so new and special. Also this year, Binance also plans to acquire banks with the aim of making banks and cryptocurrencies more friendly to each other and more convenient for investors. Title: Re: This could be the biggest news in 2022 Post by: Freddie Boyer on December 14, 2022, 09:13:02 AM I think this trend is likely to increase in the future, especially if more ties can be built between Bitcoin and traditional currencies. We'll have to see how this first investment pans out before we fully understand the ramifications, but it looks like a promising step towards mainstream adoption.
Title: Re: This could be the biggest news in 2022 Post by: Reid on December 14, 2022, 09:15:24 AM Quote The takeover of Bankhaus von der Heydt will see the Bitcoin Group own two banking licenses from Germany Took the quoted sentence from the link. It's not the bank itself but the license only. It's not a bad move considering they got it for a cheap price, but the next move seems cloudy for me. What is the purpose of doing this and what is their future goals. They must be recognized first if they will be accepting cryptocurrencies in their banks. There will be attacks that will happen and I hope they are ready for it, private banks or the government themself. It's not the biggest news but it's good for a crypto enthusiast. Title: Re: This could be the biggest news in 2022 Post by: Yawa2020 on December 14, 2022, 09:51:23 AM Took the quoted sentence from the link. It's not the bank itself but the license only. It's not a bad move considering they got it for a cheap price, but the next move seems cloudy for me. What is the purpose of doing this and what is their future goals. It is still a biggest news though. From the beginning of this year, I have not seen or heard of something interesting as this. Seeing banks liaising with crypto currency groups is a big win for crypto enthusiasts in general. We can not tell the motive behind this for now but it would eventually be in the favor of crypto minded. They must be recognized first if they will be accepting cryptocurrencies in their banks. There will be attacks that will happen and I hope they are ready for it, private banks or the government themself. It's not the biggest news but it's good for a crypto enthusiast. Title: Re: This could be the biggest news in 2022 Post by: Cryptomultiplier on December 14, 2022, 03:09:06 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . With the recession knocking at our doors, it's not unusual to see banks that don't do great, especially as the banking system is known to be slow in adapting to changes (including adapting to Bitcoin). And if it costed only 15 million, I'd guess it's a very small bank. I don't think that Bitcoin Group went after the history of the bank, although salvaging a name that old is a nice gesture after all, I think that they went after the banking licenses. However, I don't deny it, bitcoiners buying a bank is a news I do like (even if it's not really in the spirit of Satoshi's white paper, but maybe we'll get there too someday...) The future of this purchase however will be revealed in time, unless it is just a hoax. Title: Re: This could be the biggest news in 2022 Post by: bangjoe on December 14, 2022, 05:34:55 PM And $15 million for a bank is dirt cheap if you ask me. I wonder if their crypto business somehow got them into trouble financially. Interesting, but the title of this thread is pure clickbait. This is indeed too cheap for a bank that has been established for a long time, I am curious about this, is Von Der Heyd's bank having problems internally? or indeed they have debts so they are forced to sell, this will raise a lot of questions in my opinion.It's also possible that Bank von der Heyd isn't worth as much as $15 million. But it doesn't matter, about the price and valuation of the bank, the important thing is that the Bitcoin group in Germany acquires a bank that is hundreds of years old, will this be an indicator of the movement of Bitcoin adoption in Germany, maybe very positive about that. Title: Re: This could be the biggest news in 2022 Post by: Falconer on December 14, 2022, 07:02:32 PM But it doesn't matter, about the price and valuation of the bank, the important thing is that the Bitcoin group in Germany acquires a bank that is hundreds of years old, will this be an indicator of the movement of Bitcoin adoption in Germany, maybe very positive about that. Not bitcoin group in the general sense, but a company that calls itself a Bitcoin Group and of course the two are different.The acquisition might be something positive for adoption growth, but I don't know exactly how legal crypto is in Germany. If the German government legalizes crypto, then of course they will also give permission for adoption to the acquired bank. But whatever it is, I don't think this is as big news as the adoption of Brazilian bitcoin as legal tender which has been approved by law. Title: Re: This could be the biggest news in 2022 Post by: so98nn on December 14, 2022, 07:24:49 PM Really, just 15 millions. Looks like micro finance bank. With the current era and the market valuations 15 million for bank is literally cheapest deal in the history. I mean big businesses take that much credit loans for their CC accounts and you telling us they bought entire bank with just 15 million bucks. :D
Bitcoin group might have made nicest move while making this deal and definitely best men were at work on that day. Looking at the news it seems they only had limited 150,000 shares. This means the price per share was only $100? I think that makes sense why it was completely bought. Good example if you compare with the crypto coins. For example, no single person can own entire bitcoin economy because it is distributed ledger (public) and its almost next to impossible to be owned by one person. Because in todays date if someone wants to buy 100% share of the Bitcoin then they will need to pay $ 329,596,623,538 USD. 8) Title: Re: This could be the biggest news in 2022 Post by: Gyfts on December 14, 2022, 08:31:01 PM 1.This might be fake news. 2.Bitcoin isn't "buying" banks. A company called "Bitcoin Group" is supposedly trying to buy a bank. The company might be called "Bitcoin Group" but that doesn't mean anything(it doesn't necessarily mean that this is a crypto company). You could name your company "Bitcoin" or "Satoshi" and offer fiat financial services at the same time. ;D 3.Who cares if this is the oldest bank in the world? I couldn't care less, even if this bank was founded in 1135 or 1066. Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies. We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. ;) No bank can be "Bitcoin friendly" without the permission of the central bank and the government. Good luck trying to run a "Bitcoin friendly" bank. ;D A bank's more than welcome to hold crypto assets if it wants, unless they live in dictatorship hell hole with a complete ban on private enterprise. But realistically, the banks have shunned Bitcoin because it's not a profitable enterprise for them in the immediate short term. It's easy to take liquid capital and invest in into other assets that might give them a more predictable return. I don't think governments are incentivized yet to tell the major financial institutions that they can't keep crypto in their holdings. Title: Re: This could be the biggest news in 2022 Post by: DrBeer on December 15, 2022, 03:44:43 PM True, fake, small bank or large - it does not matter. Another thing is important - the crypto world is isolated from the real / fiat world. And he cannot "stew in his juice". Virtual assets must be converted into fiat so that everything in the real world is available to you - from a bottle of water to buying a house! In the crypto world, this is almost unrealistic, or these are isolated cases, and more an exception than practice.
Therefore, exchanges, large funds, will buy banks to turn them into a kind of gateway for communication between two parallel worlds :) Title: Re: This could be the biggest news in 2022 Post by: MoonOfLife on December 15, 2022, 04:09:18 PM Took the quoted sentence from the link. It's not the bank itself but the license only. It's not a bad move considering they got it for a cheap price, but the next move seems cloudy for me. What is the purpose of doing this and what is their future goals. It is still a biggest news though. From the beginning of this year, I have not seen or heard of something interesting as this. Seeing banks liaising with crypto currency groups is a big win for crypto enthusiasts in general. We can not tell the motive behind this for now but it would eventually be in the favor of crypto minded. They must be recognized first if they will be accepting cryptocurrencies in their banks. There will be attacks that will happen and I hope they are ready for it, private banks or the government themself. It's not the biggest news but it's good for a crypto enthusiast. It is not big news, if it is big news like OP said, then the market will react positively to this news. The news was barely mentioned in the media, and the 15 million figure was too small to make any impact. The acquisition of banks by crypto companies does not happen much, but the acquisition of traditional companies by crypto companies is not new. Title: Re: This could be the biggest news in 2022 Post by: o48o on December 15, 2022, 05:21:23 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . I don't want to cancel the parade, but Kraken got their banking license 2 years ago so i don't see the fuss.The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ And if someone can buy a bank with $15M that doesn't seem like very profitable bank to begin with. But obviously more banks that are crypto friendly is all better for crypto adoption. Just manage your expectations as banks don't make the AML laws. Meaning that this bank won't be bending rules but follow the rules by the book and is part of the surveillance too. Title: Re: This could be the biggest news in 2022 Post by: tygeade on December 15, 2022, 07:29:54 PM True, fake, small bank or large - it does not matter. Another thing is important - the crypto world is isolated from the real / fiat world. And he cannot "stew in his juice". Virtual assets must be converted into fiat so that everything in the real world is available to you - from a bottle of water to buying a house! In the crypto world, this is almost unrealistic, or these are isolated cases, and more an exception than practice. I have to say it's going to be not an impossible thing for too long. We are already using debit crypto cars if you seen it or not I do not know. That means you put your crypto somewhere, and then you use your card to buy something and with that you end up with a regular debit card type of stuff where you can buy anything from bottle of water to a house, even the bank itself, because there is no limit to crypto.Therefore, exchanges, large funds, will buy banks to turn them into a kind of gateway for communication between two parallel worlds :) However, it's a bit about how that's not spread yet, it is not available in most nations too, if we could end up working towards making sure this works then we are not going to end up with any problems at all if everyone has one and everyone accepts it. Title: Re: This could be the biggest news in 2022 Post by: Fortify on December 15, 2022, 08:23:17 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more Possibly some of the dullest and most irrelevant news really - certainly nowhere near the biggest story of 2022. We see FTX collapsing after losing $8 billion worth of customer funds due to incompetence and fraud, helping drag down crypto assets to new lows, that's a huge story. This is just a marketing gimmick that doesn't change the landscape at all. People are using their bank accounts to buy bitcoin for over a decade now, banks are fully in the loop and helped to fund the bitcoin boom from day one - they just don't want any direct exposure to the asset. They leave that to their investment arms or special hedge funds that are segregated, as they have a responsibility to stay stable and protect their customer deposits. Title: Re: This could be the biggest news in 2022 Post by: Outhue on December 16, 2022, 09:17:09 AM This is crazy, Bitcoin group buying a Fiat bank? It doesn't make sense to me, what are you expecting from this move OP? I don't believe that a local bank can go decentralized, Bitcoin group don't understand the real reason why Bitcoin come into existence it seems.
This is nothing but a waste of money and misuse of power from the group Title: Re: This could be the biggest news in 2022 Post by: karmamiu on December 16, 2022, 11:29:55 AM True, fake, small bank or large - it does not matter. Another thing is important - the crypto world is isolated from the real / fiat world. And he cannot "stew in his juice". Virtual assets must be converted into fiat so that everything in the real world is available to you - from a bottle of water to buying a house! In the crypto world, this is almost unrealistic, or these are isolated cases, and more an exception than practice. That sounds like something straight out of the picture book but that also has a point. Although it could be said that both worlds are different but they are also somehow connected. I also agree with the idea that crypto needs to buy the banks for them to push forward and also to make changes and example. As of now although there're virtual reality estates or NFTs but most people aren't into that kind of thing on which physically they cannot benefit.Therefore, exchanges, large funds, will buy banks to turn them into a kind of gateway for communication between two parallel worlds :) Title: Re: This could be the biggest news in 2022 Post by: Wong Gendheng on December 16, 2022, 01:30:49 PM Good news that will make Crypto more popular and have a strong position, this is an active and effective promotion, the oldest bank in Germany has been bought by a crypto company and this will make people more open and I'm sure it will bring a big impact. Hopefully other purchases such as stadiums, football clubs and so on will happen again.
Title: Re: This could be the biggest news in 2022 Post by: el kaka22 on December 16, 2022, 06:04:21 PM I feel like it is not a big deal at all, this is just a naming rights thing. I mean 15 million dollars for a bank? Imagine how small that must be normally and I doubt that it would be any better later on as well. Just imagine the situation we are in and that should tell you how easy it is. I know people who have that much money, and if I know PEOPLE who can, then I am pretty sure that there are companies who can easily buy the whole thing as well.
This is of course not an easy task, 15 million is a lot for you and me probably, but not the biggest news in 2022 neither. Banks in most nations have billions upon billions deposited to them alone, and many other incomes. Title: Re: This could be the biggest news in 2022 Post by: Leviathan.007 on December 18, 2022, 02:58:44 PM Never heard of both of them. But it is the group that's going to buy them with the use or profit that they've made with bitcoin. Well, the logic is understandable that it is bitcoin that's going to buy the bank. Maybe it's already been decided and whoever are the executives and board members of that bank doesn't have any other solution but just to sell it to the group with the said amount. But isn't that low if the price is $15M and that's a long running bank? Me too, I never heard about any of them, during all these years, and especially this year I saw many companies and even some governments and banks show interest in bitcoin and this can be just one of them and if they are running a big business this can affect the market massively but even that effect can be temporary in the market because all these acceptions are not going to change the trend of the market in long term. Title: Re: This could be the biggest news in 2022 Post by: virasisog on December 18, 2022, 03:08:02 PM Never heard of both of them. But it is the group that's going to buy them with the use or profit that they've made with bitcoin. Well, the logic is understandable that it is bitcoin that's going to buy the bank. Maybe it's already been decided and whoever are the executives and board members of that bank doesn't have any other solution but just to sell it to the group with the said amount. But isn't that low if the price is $15M and that's a long running bank? Me too, I never heard about any of them, during all these years, and especially this year I saw many companies and even some governments and banks show interest in bitcoin and this can be just one of them and if they are running a big business this can affect the market massively but even that effect can be temporary in the market because all these acceptions are not going to change the trend of the market in long term. Title: Re: This could be the biggest news in 2022 Post by: michellee on December 18, 2022, 05:15:34 PM This is interesting news because a crypto holding company is buying a bank. This may be a new trend in banking that crypto owners can follow to buy a bank. Will this be a massive adoption process in the next year? It's still a mystery.
But it's about 898 bitcoins to buy the bank and if he has a few bitcoins, he won't be able to buy a bank or any other business. Title: Re: This could be the biggest news in 2022 Post by: Casdinyard on December 18, 2022, 07:45:33 PM I suppode this entity is trying to buy the bank for its license, given that it's a crypto holdings company and that l8censes for such are hard to come by. And oh boy had they picked the right time. With the recession syill at a rage, banks are suffering the most and have experienced the lowest and most steady decrease in valuation amongst other industries, this means they can easily buy it for cheap with no problems whatsoever. Although honestly, I think the fact that they went after the oldest bank in existence is a little bit of a statement as well, that bitcoin is here to protect everyone, even banks or something along those lines. That's what I get from it at least.
Title: Re: This could be the biggest news in 2022 Post by: karabiber on December 18, 2022, 08:29:15 PM Is $15 Million Enough to Buy a Bank? No way. This is the first time i've heard of the company and the bank in the news. If this news is true, it will be a positive development for the crypto market. The company will perhaps experiment with crypto by buying banks. But i think the news is likely to be false. It is impossible for crypto companies to absorb the banking system because the crypto ecosystem itself is against the banking system. I really wonder why a crypto company would want to buy a bank.
Title: Re: This could be the biggest news in 2022 Post by: Semar Mesem on December 19, 2022, 02:42:50 PM Is $15 Million Enough to Buy a Bank? No way. This is the first time i've heard of the company and the bank in the news. If this news is true, it will be a positive development for the crypto market. The company will perhaps experiment with crypto by buying banks. But i think the news is likely to be false. It is impossible for crypto companies to absorb the banking system because the crypto ecosystem itself is against the banking system. I really wonder why a crypto company would want to buy a bank. Right, I'm surprised why someone sells a bank for only $ 15 million, maybe this is 1 place of the bank's assets that have been used for hundreds of years, and of course to buy a bank requires a lot of requirements such as liquidity that must be supervised by the central bank, and of course requires a very strict permit for bank purchases. Title: Re: This could be the biggest news in 2022 Post by: iamsange on December 19, 2022, 03:39:28 PM Right, I'm surprised why someone sells a bank for only $ 15 million, maybe this is 1 place of the bank's assets that have been used for hundreds of years, and of course to buy a bank requires a lot of requirements such as liquidity that must be supervised by the central bank, and of course requires a very strict permit for bank purchases. Those who buy, of course, have thought about it beforehand and have completed all the requirements needed. Because someone who has never bought a bank will definitely ask those who have bought a bank to complete all the requirements. So you don't need to think about other people's ability to buy things that you may have never bought, for example like a bank. After all, those who bought the bank also definitely know where he will benefit from after buying the bank.Title: Re: This could be the biggest news in 2022 Post by: naira on December 19, 2022, 03:54:57 PM This is interesting news because a crypto holding company is buying a bank. This may be a new trend in banking that crypto owners can follow to buy a bank. Will this be a massive adoption process in the next year? It's still a mystery. Maybe hearing the news regarding this for a while I feel happy, but on the other hand I still haven't seen what kind of goals and progress they will make after officially owning the bank. Of course, Apart from making Bitcoin the main transaction but behind it if the bank was in my place, then I would not keep a single penny in the form of Bitcoin in it. Isn't the bank working system as a place to store money, now what I'm worried about is that the Bitcoin Group is trying to convert finances with the same system that they will apply to Bitcoin.But it's about 898 bitcoins to buy the bank and if he has a few bitcoins, he won't be able to buy a bank or any other business. Therefore, it is necessary to know more about the purpose of purchasing the bank. Title: Re: This could be the biggest news in 2022 Post by: Yatsan on December 19, 2022, 04:26:14 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . Buying it does not mean same thing would go with ither banks, also it won't mean that cryptocurrency will be registered or some sort of 'legalized' to all countries just because a crypto company managed to buy a bank. For sure that company has other plans for that. The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/ This is interesting news because a crypto holding company is buying a bank. This may be a new trend in banking that crypto owners can follow to buy a bank. Will this be a massive adoption process in the next year? It's still a mystery. Maybe hearing the news regarding this for a while I feel happy, but on the other hand I still haven't seen what kind of goals and progress they will make after officially owning the bank. Of course, Apart from making Bitcoin the main transaction but behind it if the bank was in my place, then I would not keep a single penny in the form of Bitcoin in it. Isn't the bank working system as a place to store money, now what I'm worried about is that the Bitcoin Group is trying to convert finances with the same system that they will apply to Bitcoin.But it's about 898 bitcoins to buy the bank and if he has a few bitcoins, he won't be able to buy a bank or any other business. Therefore, it is necessary to know more about the purpose of purchasing the bank. This is just how business works. Powerful ones being able to buy the weak ones. Given that a crypro company bought this bank, I think it is more of a stock/real estate investment rather than something which could show progressive growth to this industry. Title: Re: This could be the biggest news in 2022 Post by: michellee on December 21, 2022, 12:33:46 PM This is interesting news because a crypto holding company is buying a bank. This may be a new trend in banking that crypto owners can follow to buy a bank. Will this be a massive adoption process in the next year? It's still a mystery. Maybe hearing the news regarding this for a while I feel happy, but on the other hand I still haven't seen what kind of goals and progress they will make after officially owning the bank. Of course, Apart from making Bitcoin the main transaction but behind it if the bank was in my place, then I would not keep a single penny in the form of Bitcoin in it. Isn't the bank working system as a place to store money, now what I'm worried about is that the Bitcoin Group is trying to convert finances with the same system that they will apply to Bitcoin.But it's about 898 bitcoins to buy the bank and if he has a few bitcoins, he won't be able to buy a bank or any other business. Therefore, it is necessary to know more about the purpose of purchasing the bank. Title: Re: This could be the biggest news in 2022 Post by: Lubang Bawah on December 23, 2022, 02:56:41 AM The expansion of cryptocurrencies is increasingly massive, now it's easier for the public to find things related to cryptocurrencies, as happened with the world cup ago crypto.com became the official advertisement and according to reports the volume of transactions on crypto.com has increased significantly, and now there is news that cryptocurrencies companies are buying banks the oldest in Germany and of course this will have a positive impact and the minds of many people about cryptocurrencies.
Title: Re: This could be the biggest news in 2022 Post by: Moeda on December 24, 2022, 09:33:38 PM The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. Of course the Bitcoin Group will make efforts to get crypto legality through banking. They will get two legalities if Bankhaus von der Heydt manages to find a deal. What they want is the legality of Bitcoin transactions based on the banking system in that country.Title: Re: This could be the biggest news in 2022 Post by: fortunecrypto on December 24, 2022, 09:59:54 PM Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars . The group now owns two banks the first one is was Furturn digital bank they now have to do another step and that is securing approval for a license, this move is unheard of and it could become a growing trend to fast-track adoption of Bitcoin in Germanyafter the approval, the group just needs to take steps in integrating Bitcoin into their banking services, introduce Bitcoin to their clients, and serve those who are already holders of Bitcoin Quote The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going. We never know we have big corporations adopting Bitcoin, and integrating it with their system but once you add it to the banking system it easily introduces Bitcoin to the mainstream, I like this to happen to our country, as banks are still hesitant to add or integrate Bitcoin to their system.Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Title: Re: This could be the biggest news in 2022 Post by: Smartvirus on December 24, 2022, 10:09:29 PM A good news for cryptocurrency for sure but that's just it. It doenst mean they would be operating on bitcoin or something. That's possible shah, accepting bitcoin deposit in exchange for local fiat currency. Not like they are the central bank or something, they would still function under the central bank regulations.
One thing I am wondering is, if the transaction would be done in bitcoin or they would have to buy fiat and in turn, proceed to jying the bank as that would mean, flooding the market with coins and that could possibly result in a drop in price. Other than speculated above, it would create a big business for the bank as local crypto users would flock to using the bank for there crypto transactions. Title: Re: This could be the biggest news in 2022 Post by: capedbaldy on December 24, 2022, 11:59:31 PM We never know we have big corporations adopting Bitcoin, and integrating it with their system but once you add it to the banking system it easily introduces Bitcoin to the mainstream, I like this to happen to our country, as banks are still hesitant to add or integrate Bitcoin to their system. No, you have to understand the above information carefully that no bank has adopted Bitcoin but Bitcoin Group companies are buying cash from the oldest bank companies, so of course the banking system will be adapted to the decentralized market, if they can change the customer's mindset to switch to Bitcoin investment then progress great to get a lot of customers from commercial banks. |