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erickkyut (OP)
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June 07, 2016, 12:35:53 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
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shorena
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No I dont escrow anymore.
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June 07, 2016, 12:38:09 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank? |
Im not really here, its just your imagination.
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matruidy
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June 07, 2016, 12:46:37 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
yes but why you need to deposit bitcoin in a bank? and Who is the really "owner" of this coin/priv key!? Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank? Yes trust btc is more stronger than trust a bank!!! |
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marcuslong
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June 07, 2016, 12:47:19 PM |
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What is the use of bitcoin wallet if you store it in banks. And if you store it to banks there are possibilty that your bitcoin can loss by just rubbing online if you hide it yourself your earning and all amount of your money you only know theres a chance that rubbers online dont have plan to rubb your earning. Because if they know that you have a big amount they have plan for you. So if you store your money in banks there are chances that it can be rubbed
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franky1
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June 07, 2016, 12:47:45 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
some common replies to this subject: bitcoin does not need banks. you can however put a private key in a safe deposit box any time you like. banks will not drop FIAT to solely and directly hold bitcoin, at the moment there are regulations that have been around for decades to keep FIAT as the sole currency a bank should handle. however private businesses are already trying (mostly failing (due to scammy motives of them)) to create bank-like services. you will not see a bank transacting in bitcoin direct. just like you cant buy shares or gold from your banks ATM.. however their corporate arms(subsidiaries and side businesses) may offer services to 'open special trading accounts' to buy and sell bitcoin just like some banks have special trading side business for stocks and shares. just dont expect it to be something that will be available as part of a standard savings account or service offered at an ATM. but overall, i still wonder why people think that banks are even needed... anyone who suggests they are.. obviously needs to learn the benefits of a personally held private key. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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mocacinno
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https://merel.mobi => buy facemasks with BTC/LTC
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June 07, 2016, 12:48:16 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank? I've actually been thinking that if i collect a bit more coins, it might become a good idear to store my paper wallets in a safe deposit box at the local bank. This way, i am safe from home invaders. If somebody breaks into my house in the middle of the night, and asks for my private keys, i can honestly tell them they're at the bank. If the bank ever gets robbed, and my paper wallets get stolen, they're useless to the thief since they're bip38 encrypted (so it might be a good idear to rent 2 deposit boxes in 2 banks to cover all your bases). At this moment, i think this sounds paranoid since the risks might seems small, but maybe in the future when somebody is known to hold several hundred bitcoins, he/she might become an interesting victim for home invaders with technical knowledge. After all, you're your own bank, so if you hold hundreds of bitcoins, your paper wallets/hardware wallets/cold storage can be physically stolen. |
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shorena
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No I dont escrow anymore.
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June 07, 2016, 12:56:39 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
There are no bitcoin, so the answer is no. It is however possible to store the private keys with a bank. I dont see a reason too though. Bitcoin enables me to take my own precautions, why remove the trustless element and trust a bank? I've actually been thinking that if i collect a bit more coins, it might become a good idear to store my paper wallets in a safe deposit box at the local bank. This way, i am safe from home invaders. If somebody breaks into my house in the middle of the night, and asks for my private keys, i can honestly tell them they're at the bank. If the bank ever gets robbed, and my paper wallets get stolen, they're useless to the thief since they're bip38 encrypted (so it might be a good idear to rent 2 deposit boxes in 2 banks to cover all your bases). At this moment, i think this sounds paranoid since the risks might seems small, but maybe in the future when somebody is known to hold several hundred bitcoins, he/she might become an interesting victim for home invaders with technical knowledge. After all, you're your own bank, so if you hold hundreds of bitcoins, your paper wallets/hardware wallets/cold storage can be physically stolen. That might be a problem worth considering, but Id still prefer a couple of friends over a bank. |
Im not really here, its just your imagination.
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Mumbeeptind1963
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June 07, 2016, 01:03:25 PM |
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What is the use of bitcoin wallet if you store it in banks. And if you store it to banks there are possibilty that your bitcoin can loss by just rubbing online if you hide it yourself your earning and all amount of your money you only know theres a chance that rubbers online dont have plan to rubb your earning. Because if they know that you have a big amount they have plan for you. So if you store your money in banks there are chances that it can be rubbed
Bitcoin wallet can use to transfer your earning here then transfer to banks. You have a point that if you store it in the banks theres a chance that it can rubbed by robbers. And if you hide to your house many rubbers didnt know what is bitcoin so they dont know this is money so theres no need to secure it. If the bitcoin known worldwide theres a chance that many rubbers target you if you have many bitcoins. So it is safe to hide it to yourself and dont say to your neighbours that you have a big amount of bitcoin. |
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ning_chang
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June 07, 2016, 01:06:37 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
Here in our country we are able to convert our bitcoin to cash and deposit it in affiliated banks. We are using an exclusive wallet for that bank and our country too |
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Daniel91
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June 07, 2016, 01:07:38 PM |
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I really don't see reason for it.
Bitcoin is not on the paper, and bank will not accept is as valid currency.
So, it seems we can only store private keys at the bank but again why to do it?
Is more safe to store such info somewhere offline, in my opinion.
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Denker
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June 07, 2016, 01:25:31 PM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
Why would you want to do that? You have the possibility to store your bitcoins yourself wherever you want pretty safe! If you don't hold the private key it is not your bitcoin anymore!!!!!!!!Forget the banks in that case!They're obsolete! |
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Amph
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June 07, 2016, 01:27:54 PM |
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isn't coinbase just like a bank? they cover your ass on your coin, if they are stolen or for any other problem related to their security
if you eman phisical bank, i can not see the reason for it, it would only mean increased fee
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KaliLinux
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June 07, 2016, 01:32:41 PM |
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I really don't see reason for it.
Bitcoin is not on the paper, and bank will not accept is as valid currency.
So, it seems we can only store private keys at the bank but again why to do it?
Is more safe to store such info somewhere offline, in my opinion.
As I have been aware that we can convert the BTC to banks and get it credited with local currencies. BTC wallet is same like as banks that are protecting our money securely in Crypt. Expecting the BTC card facility will be the upcoming one to draw money in ATM. Do we still need banks? |
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MWesterweele
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June 10, 2016, 04:54:42 AM |
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I think it's a yes.I think it would be possible.Bitcoin can never replace fiat money now and in the future but it can be one of the fiat currency which can be deposited and accepted payments at banks and stores.It could be a basis of market also if bitcoin will be a fiat currency
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ranochigo
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June 10, 2016, 05:02:53 AM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
It is possible for Bitcoin banks to exist but there is hardly any advantage. The security would still largely be dependent on you since you have to keep your log in information safe from hackers. By giving them the coins, you are also not in control of it and they can run with it. Bitcoin banks are likely not going to be a registered business so it would be risky. Earning interest is also quite hard since it isn't possible for online Bitcoin banks to borrow to others without risk. |
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lionheart78
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June 10, 2016, 05:42:07 AM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
some common replies to this subject: bitcoin does not need banks. you can however put a private key in a safe deposit box any time you like. banks will not drop FIAT to solely and directly hold bitcoin, at the moment there are regulations that have been around for decades to keep FIAT as the sole currency a bank should handle. however private businesses are already trying (mostly failing (due to scammy motives of them)) to create bank-like services. you will not see a bank transacting in bitcoin direct. just like you cant buy shares or gold from your banks ATM.. however their corporate arms(subsidiaries and side businesses) may offer services to 'open special trading accounts' to buy and sell bitcoin just like some banks have special trading side business for stocks and shares. just dont expect it to be something that will be available as part of a standard savings account or service offered at an ATM. but overall, i still wonder why people think that banks are even needed... anyone who suggests they are.. obviously needs to learn the benefits of a personally held private key. Bitcoin and Bank repel each other |
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davis196
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June 10, 2016, 05:42:33 AM |
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Is it possible that Bitcoin can be deposited in the banks in the near future? I mean like any other currencies that can be deposited and withdraw in the banks.
Maybe in the future bitcoin will be deposited in banks for interest and the banks will give bitcoin loans. This isn`t very good idea,because btc price isn`t very stable. What if a bank gives a loan to a guy and after that the btc price hits the roof.The guy with that debt will bankrupt....That`s just my theory.... |
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romero121
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June 10, 2016, 07:17:08 AM |
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If bitcoin makes tie up with the banking sector what OP mentioned might happen. In reality if it happens then bitcoin will be considered similar to banking. The value it got gets destroyed.
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ning_chang
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June 10, 2016, 07:39:01 AM |
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Here in our country we can deposit bitcoin in banks here, But we need to convert it first to our wallet. It is possible to deposit your bitcoins to bank
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Enotche
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June 10, 2016, 07:50:36 AM |
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Many representatives of the banks believe cryptocurrency threatened the entire banking ecosystem, but there are those who are strong enough interest is the use of Bitcoin in the financial sector.
UBS, of Citi Bank, Standard Chartered, of BNP Paribas, of Société Générale, Barclays, of Goldman Sachs.
All these global banks interested in Bitcoins, and have either introduced it into circulation, or are going to enter
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