Can We Expect A Legally Compliant Bitcoin Bank Soon?

[jaocoincrypto18]

This is possible in the future if Bitcoin will continue to dominate and be legally accepted in the whole world. The same banking system and insurance just different currency so if all establishments will accept Bitcoin transactions then we will need someone to secure our Bitcoin assets in which only the Banks can guarantee it because they are the expert on this particular field.

[nrnahid]

The question about the demand is, however, a very good one. Banks usually operate with high fees. So although more convenient, buying/selling Bitcoin though a bank will be more expensive (in the same way converting EUR/USD/local currency is much cheaper at an exchange office than at the bank).

[judeafante]

The biggest question is why do we need one, when you can do it all by yourself with your own wallets, it's like you want to be under regulation and you want banks and government monitor and tax you on all your holdings I don't think it will be profitable for a bank to set up one because of the volatility of the market.

[Flor1982]

The biggest question is why do we need one, when you can do it all by yourself with your own wallets, it's like you want to be under regulation and you want banks and government monitor and tax you on all your holdings I don't think it will be profitable for a bank to set up one because of the volatility of the market.

Most likely they are into the interest and insurance in which current banks offered to their depositors but you have a point about the disadvantage in which Banks are all trully goverment compliant in which they could trully monitor our assest movement from decentralization to centralization therefore i preffered to keep it to my crypto wallet too.

[bitbrawlers]

Most likely they are into the interest and insurance in which current banks offered to their depositors but you have a point about the disadvantage in which Banks are all trully goverment compliant in which they could trully monitor our assest movement from decentralization to centralization therefore i preffered to keep it to my crypto wallet too.

By "insurance" do you mean something like FDIC where your bank deposit is protected even if the bank fails?

[carlfebz2]

Most likely they are into the interest and insurance in which current banks offered to their depositors but you have a point about the disadvantage in which Banks are all trully goverment compliant in which they could trully monitor our assest movement from decentralization to centralization therefore i preffered to keep it to my crypto wallet too.

By "insurance" do you mean something like FDIC where your bank deposit is protected even if the bank fails?

Thats what he precisely mean about "insurance" matters but the question is,is there someone would able to do so? Bitcoin Bank is total BS.
We dont need them and we dont need one because this is why Crypto exist which means we do have the full control of our finances without any 3rd party involvement.
Using up banks for storage? then how you would consider on all crypto wallets and storages atm?

[MURONDI]

I think it won't be fun if there is a Bitcoin bank, where access to bitcoin is monitored and taxed, I prefer in my wallet where I have full control over the bitcoin that I have, maybe when at the bank you expect interest and security guarantees from the government.

[error08]

In the bank you can file a loan with your bitcoin or crypto as the collateral.

All it would take is a few violent moves and the bank is totally screwed. There's no way loans and crypto will ever work smoothly together.

What most people will want is a bank that seamlessly interacts with fiat and crypto. Since such a bank would be a little fish in a big pond it would be bullied out of business.

Loans and crypto still work very well all the time, at least in this forum if someone can't pay his loan, then the collateral is taken or negative trust, the same thing will be applied if there is a bitcoin bank, yeah collateral works., finally the debt must be paid.
Since the bank serves for fiat currency and bitcoin in another path, so we just have crypto exchanges offers to buy and sell cryptocurrencies that cooperate with the bank.
don't know if there is someone or a community tried to create one, hmmmm but it will still be linked to the conventional bank for fiat currency, right?