[POLL] Would you open a Bitcoin account at your local bank?

[RealEstCoin]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

[1715582447]

1715582447

[1715582447]

1715582447

[1715582447]

1715582447

[asriloni]

I say no, this would be difficult for me although the chartered bank is providing a bitcoin account service, and this is so risky for me to trust them, I would wanna for using an ordinary account for my storage because in fact actually we just need a common account for withdrawing our money for the fiat, it's nonsenses for me the purpose of using bank account if you can withdraw your bitcoin anytime. If trying for running for full nodes, you might think again for using the offered nodes.

[jerowacik]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

if the services were available then I would use. with the incorporation of such services then we can get the ease and security. something that may be one indicator of the best service ever.

[LTU_btc]

I think I wouldn't bitcoin account at local bank if they would offer it. I use bitcoins because I don't want to be controlled by bank, declare my bitcoin funds, pay taxes for it. Bitcoin in banks is something against idea of bitcoin. And I hardly can imagine that one of banks would offer this type of accounts.

[Shady]

I'd personally rather use a web service such as Xapo... In truth this type of service already exists and provides the same function.

Without a doubt there are many other providers popping up, it holds true to what you were expecting.

If Bitcoin could be used in a better way to connect with banks or have real differentiating value I'd choose one over web utilities.

[InvoKing]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I may use it to put a part from my bitcoin but what I have in mind is what is the difference between it and xapo or coinbase as mentioned above? If it offers a great advantage it might be useful otherwise I don't see a solid reason to hold my money there

[Skarner21]

Well my local bitcoin wallet is connected in my bank account so that i can withdraw and deposit easily but i can also use local exchange without bank account but the good benefits its more safe to  connect it to my local bitcoin wallet to withdraw fast than without bank connected..

[RealEstCoin]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I may use it to put a part from my bitcoin but what I have in mind is what is the difference between it and xapo or coinbase as mentioned above? If it offers a great advantage it might be useful otherwise I don't see a solid reason to hold my money there

One difference is that financial institutions offer money market accounts and consumer loans.

[bhadz]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Even though I trust banks services and their good tellers and managers but still I won't open a bitcoin account with their jurisdiction. Because every single move or registration that you will make to them there is already a payment for each of it. Unlike if you will just open an account through an online wallet, its totally free.

[machinek20]

No i will never open an account, the reason i used bitcoin is because i want to get free from banking system, to have a currency freedom, i prefer to keep my coin in my wallet where i have the full access to it and i dont need to scared someday the government suddenly check the bank account

[jacktheking]

I will move my Bitcoin to my bank only if the bank offer interest (even as small as 0.02% monthly) and I have a large amount of Bitcoin. The first one depends on the bank. As for the second one, it will probably takes me a few years to accumulate that enough Bitcoin to put into my 'Bitcoin Bank' account. So hopefully, a bank will be opened for the crypto community in the next few years with of course good security.

* I use Bitcoin not because of anonymity - or hiding from bank. I just use it because it is a new technology and my only online payment method. :p.

[calkob]

Fractinol reserve banking is why the world is in the shit it is, if banks could lend bitcoin they would probably lend it fractionally.  also read up about how we should all run nodes, because if the banks run the majority of nodes they can eventually change the rules.....

[Doamader]

Sometimes i do exchange my bitcoins into local fiat, soo maybe i could deposit a part from my bitcoins, but i dont like the fact to someone has plenty control over my coins, when i were and i am free to make anything i do wanna with them anytime.

[sunsilk]

No! I won't open a bank account for my bitcoins to a local bank. They will just simply eat all my balance because they are greedy.

I have experience with them with my fiat money and even though I am not transacting with them, but it seems that they are charging with any reason.

So, it is really a no for me.

[jossiel]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I am thinking to consider that if I will open an account to them. I think I will open if the same way of open with online wallet.

And it is for free only, but if they will charge me even just $1 I won't open, because that is the start of their crazy charging and hidden fees to us.

But with their loans, I guess I will avail it.

[madwica]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I am thinking to consider that if I will open an account to them. I think I will open if the same way of open with online wallet.

And it is for free only, but if they will charge me even just $1 I won't open, because that is the start of their crazy charging and hidden fees to us.

But with their loans, I guess I will avail it.

For me i don't because bank will limit the interest of your bitcoin saving much better to put your money in your wallet if the bitcoin price will increase the profit you gain was high than bitcoin in the bank. That was i am thinking.

[Kakmakr]

The strange thing about people, saying NO about this is, most of these people are already using some sort of service that function like a bank. < They are centralized, and they charge additional fees and they are not secure > The people are so used to relying on third party services like banks, that they transition to similar services, without thinking about the consequences. < Losing control over their private keys & giving up anonymity and sacrificing their security >

Say, NO and then stay away from these third party services. Run your own node and store your own coins in cold storage. ^smile^

[Harlot]

Well its a lot to think about. But I would say that there is no need for a Bank to be open anout Bitcoin as Its out of their profession. And also some wallets also use banks as a way in which you convert your Bitcoin to Fiat, with that mode of payment it is enough for me to trust Bitcoin as a proper currency in which a Fiat Currency can be exchange. Banks are not open to Volatile investments such as Bitcoin.

[Woodie]

depending on what roll the bank will be playing i would not mind tryingg this out because the bank would be liale in case funds are hacked

[avatar_kiyoshi]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Bank will make it can be a centralized whatever the ways is, can be sabotage and just can be a more profit for government. And I prefer to say no, because I have my own bank, so i  need to keep my bank secure from any malicious/suspicious things.

[bitjoin]

Yes maybe for a small amount.  It depends on the details and what kind of economy do we live in when the banks are doing this. Do we still have same gov insurances in place etc?

[davis196]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

No,i wouldn`t open a btc account in a bank.I don`t need such service.

Bitcoin debit and credit cards?There aren`t many merchants who accept bitcoin as a payment method so

btc debit and credit cards will be useless.

[TastyChillySauce00]

as far as i know,people are trying to get away from banks by using bitcoin,and always being proud of its decentralized system,and as main post stated by OP and if that really does happen in the future,then why we use bitcoin if the purpose of using it is to get away from banks?

even though if does allow you to open a bitcoin account it will make people easier to buy bitcoin or exchanging it

[SamMurphy]

No, I wouldn't because they have limits that you can't get over them ( you have to say and prove from where and from whom did you get the money if your account has $5.000 and your salary is $700 per month). You can't be sure for your money because in many countries there are capital controls. Also you are not anonymous, that's very important to me.

[Juggy777]

Definitely would love to. This would be a very good idea. I would prefer having Bitcoin with my banks and also have them issue me, a Bitcoin atm so could use it anywhere and everywhere. Secondly it would help me be less worried about the security as it will be the banks headache. Though it's way long before we it really comes but then never say never, times are changing so let's hope this becomes a reality soon.

[Wandering Soul~]

Also no for me, cause it will become centralized and  I will compromise again to the banks rules and regulations. If btc account in banks actually happened , I will not be surprised if every transactions has a fee or there will be some monthly fee or something just like in some bitcoin debit cards.

 I can just buy a cheap laptop for the sole purpose of storing my bitcoins and I will have a full control of my coins

[romero121]

Even without the support of banking already users have got the chance to use bitcoin as a form of investment, currency and for various transaction needs. As wallet continue to act as one's own wallet there is no need of creating a bitcoin account through other networks.

[isen]

There are so many threads about "Bitcoin banks" lately, I can't understand why people are so obsessed with them.
Anyway, I answered no, I don't need a bank account and one of the many reasons that I use Bitcoin is that I dislike them a lot they have nothing to offer but limitations and trouble, I really hope one day we'll totally get rid of them.

[Oilacris]

I would really say NO and   most  people   voted   the same   option. Having a bitcoin account   on your   local  bank  is  just  useless  though and   would really takes  time to  be  implemented  by the government  hence if  they decide  to adopt   bitcoin  on the  form  of banks  you are  no  longer  free regarding  on your bitcoins because for sure you  would  imposed  with taxes  especially if you  do  hold   huge  amounts of bitcoin. Whats  the   purpose of  wallets  out there?  People  would   definitely choose  up   those  traditional ways because  they  love to have  full control  on their money.

[hasiramasenju]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

banks will not accepting bitcoin because they do not have fully control for bitcoin funds and this things has been a lot of debate in this forum or out there but if banks accepting bitcoin doesn't mean will good too for bitcoiners because one of the main reason i choose bitcoin rather than bank is anonymity so i won't let banks took it from me that's why i would not open bitcoin account through bank even banks will offering those feature but i won't interested to do so

[stomachgrowls]

100% NO, in fact i think this is very dumb idea and exact opposite of bitcoin.
Also, according to my vote (https://bitcointalk.org/index.php?topic=1652815.0), 64.5% of bitcoiner in here also disagree with it.

Personally, i think people who agree with this kind of idea must be don't care about bitcoin, only seek profit or just hate bitcoin.

The  poll results  would be  definitely  expected  and  majority  will choose  no  because we  love  bitcoins  the way  it  is as  of  now  therefore  if its  being  putted   to a  bank it means  anonymity  feature would be  gone and  its  already being controlled  by government which  means they can already  impose tax  on you. I love  bitcoin as  of  now and   that cant be change  because bitcoin is decentralized and  no one could able to  control it.

[BitHodler]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Definitely a no for me. I don't care whatever entity is offering a way to store my coins with a certain reward as return, I will at all times avoid it.

I am in Bitcoin because I like the feature that it offers me to keep my money outside the banking and governmental system.

But I am sure that there will be plenty of noobs willing to open such an account at a bank just for the reason that it generates them a certain interest rate.

[electronicash]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

So the bank will hold your BTC? Its a scary situation.
you'd rather keep it on your hard wallet after all if bitcoin's value grow, its all yours. Banks can't see it and wouldn't have to be so nosey about documents.

[clickerz]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

So the bank will hold your BTC? Its a scary situation.
you'd rather keep it on your hard wallet after all if bitcoin's value grow, its all yours. Banks can't see it and wouldn't have to be so nosey about documents.

I agree,in your hard wallet you can do what you want,transfer anywhere etc. I mean you have a freedom with your bitcoin without thinking any compromised. I know many will opposed it.

[Jeremycoin]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Take away from anonymity, is it even possible to do? If it is, then isn't it mean that the customer doesn't have to give any personal data for the Bank? So will it be possible to do?
Even tho if it actually could happen, then it won't be suitable for Bitcoin, because Bitcoin supposed to be decentralized. And with this Bank, it will just mess up the entire purpose of it.

[CryptoDatabase]

I opened a BTC account on my computer, no need to have a 3rd party hold my stuff when I am capable of doing so just fine. There are already BTC banks out there per se with web wallets, they just don't give loans.

[I Am Hero]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

i would consider it only if they offer me a good annual profit rate on my coins.

if you think about it, your local bank is 10 times better than using coinbase and services like that!

[NeuroticFish]

Yes I would, if it's for free or I can gain of it. It could be useful if I ever want to sell Bitcoin.
If I ever need the service and it worth it, I will use it, if I don't .. it'll be there just in case. Nobody stops me to have other accounts and wallets spread over.

[dothebeats]

Why would I want a bank to hold my funds for me when in bitcoin, I already am my own bank? Also, why would I trust such entity to hold my funds knowing that they might use the said funds to oppress other people? Simply put, no, even if they impose enticing features for btc account holders.

[Red-Apple]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

this is so tempting especially with all the perks. but at the same time it means losing control over my bitcoins (private keys) and giving it up to a bank.

i guess in the end i may do it because right now we are all doing it with our cash that we put in banks and use these perks so why not do it with bitcoin too. of course i would keep some in my own control.

[OliynyK]

I would gladly open a bitcoin account at my local bank if they could facilitate that opportunity ,i don't mind having the anonymity i get . i am happy with the ease at which i could transfer money without any hassle with the help of bitcoin and if i could open an account that could be great

[rajasumi2]

there should be a banner which says (SAY NO TO  CRYPTOCURRENCY BANK) because
-they cant be trust worthy at all ...
-if they take away small amount from each accout and if u dont notice then it will be troublesome..
-bitcoins can be hacked  through bank ..

kudoos

[BurtW]

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You have just accepted an IOU from the bank which states you "have" that many Bitcoins on account at the bank.

You can now write checks on that amount which other people can accept as payment.  Is a Bitcoin check in the amount of 1.2345 BTC to someone actually Bitcoins?  The answer is no it is not. It is a promise to pay the bearer Bitcoins.  You have just recreated the use and acceptance of debt as money.

Not only that you have just lent your Bitcoins to an entity (bank) whose entire purpose is to lend out your Bitcoins to someone else and make a profit.  Their entire purpose is to recreate the fractional reserve banking system.  Their entire purpose is to gamble with the Bitcoins you just lent them.  They have no choice.  It is their business model.

The second people start lending their Bitcoins to banks they have recreated the fractional reserve banking system.

The answer from anyone who really understands Bitcoins, loves Bitcoins, what they represent, why they exist, should not simply be "no I will not lend my Bitcoins to a bank in order to reproduce the fractional reserve banking system".  It should be:

There is no fucking way I will lend my Bitcoins to the fucking banking system so they can use my Bitcoins to recreate their fucking house of cards Ponzi scheme fractional reserve banking system.

Having said all that, it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins.  This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves - and most people are sheep being lead to the slaughter.

The difference with Bitcoin is that you can choose not to participate in their scheme to rape you.

For examples of sheep being led to the slaughter and/or asking to be raped again just read the next post and the many more before that and after that from clueless ignorant fools who do not even bother to read this thread or think before posting:

[talkbitcoin]

it will depend on what they are going to offer me in return.
if it is only a wallet in their bank with a card that i can spend from, then no thank you. i can spend bitcoin on my own much easier and much cheaper there is no need to pay fees to a bank to be able to use bitcoin.

but if what they offer in return is good enough, like profit, ability to use it like fiat "anywhere" and some other things then why not.

[BurtW]

then why not.

I told you why not in the post right above yours.

[carlfebz2]

there should be a banner which says (SAY NO TO  CRYPTOCURRENCY BANK) because
-they cant be trust worthy at all ...
-if they take away small amount from each accout and if u dont notice then it will be troublesome..
-bitcoins can be hacked  through bank ..

kudoos

This  things are possible to happen when our bitcoins  is on the banks because  its easily  for it to be  manipulated and there are  lots of things  you could able to  make reasons  especially when they  tend  to steal small amounts on  each accounts same as you mentioned you wont feel it because of bitcoins  price  volatility. Even they are on the  bank the risk  is still there. So  I  really said  no with this.

[lol3c]

Absolutely no! I use bitcoin because it's not under controlled by any government or anyone and any bank and it's tax-free. Having bitcoin in a bank means that bitcoin won't have any difference compare to other currencies and we will have to pay tax for it then what's the point of using bitcoin now? The idea that banks have bitcoin is totally against the concept of bitcoin.

[Carlsen]

My bank already has a lot of my money.
Would I trust them with my bitcoins? sure. I see no reason why they would handle them differently than they handle my money.
Of course there had to be some advantages it would have to bring me, such as interests or at least that my coins are ensured.
But in general I see no problem with the combination of bank and bitcoin.

[Pursuer]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

that is a tough question to answer. because if it were just choosing between a bank as wallet and my own wallet on desktop or paper then it would have been easy I never choose bank in that case.

but if there are some additional services I think it is worth to consider it.
also this decision is dependent on the current situation where I can not spend bitcoin easily since not a lot of places accept bitcoin, so having a credit card that can be used everywhere and holds bitcoin is a good option. but if bitcoin were accepted everywhere directly then there is no point in using a third party like a bank.

[darklus123]

Absolutely not why would i store my bitcoin amounts on a bank if i can do it in fiat and in fact we already do have a bitcoin bank called wallets. I just simply cannot put bitcoin asset that could be 0 valued someday.

[yayayo]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Destroying privacy and decentralization by handing over one's funds to a third party is not helping the Bitcoin ecosystem at all. It's actually damaging it, because the original advantage of Bitcoin as a independent form of sound currency is put at stake. The very reason for the creation of Bitcoin was to end the cancerous reign of fiat money and banks. With Bitcoin it is extremely easy to be in full control of one's funds and to execute worldwide value transfers for low fees without having to ask any banker / gov muppets for permission. Handing over control of one's Bitcoin to banks is perversion.

So the answer is a clear NO, regardless what services are offered by the bank. In fact I plan to close my bank accounts in the foreseeable future and rely on Cash and Bitcoin.

ya.ya.yo!

[Xenophoto]

I wouldn't put my bitcoins into a bank because I know that it's secure enough. Banks are there so that the government can control the currency. Once the majority of bitcoin falls into the hands of banks, we can forget about the "decentralized" and "anonymity" feature of bitcoin. Just do some research about making your bitcoin wallet secure so you wouldn't be having thoughts of needing banks for the security of your coins.

[harizen]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I see some pointless comments here. It's fine that a person is not favor to this but make a reasonable reason. Literally opening bitcoin account in a bank if ever that is possible is just meant for comfortability service. There are benefits of course. Sucks to see "Im not storing coins at bank" "I can be my own bank" etc. It's not the point. Why in the first place will you do save coins at the bank? Just use their service. The maintaining balance if ever you have a bank account is not that high depends on the bank. Also do you think your BTC1 saved at a reputable bank will be a reason for banks to make them fraud? Banks are complying with the law and regulations of a certain country so if ever there is a fraud, customers are not left crying.

And this is a good idea to me since ATM's are spread out. If ever bitcoin account is possible in the bank I can take advantage of that because I know there will be an additional option now at ATM to withdraw bitcoin. Good for emergencies when there is no internet connection available.

[darklus123]

Absolutely no! I use bitcoin because it's not under controlled by any government or anyone and any bank and it's tax-free. Having bitcoin in a bank means that bitcoin won't have any difference compare to other currencies and we will have to pay tax for it then what's the point of using bitcoin now? The idea that banks have bitcoin is totally against the concept of bitcoin.

Exactly, Yes we do save our amounts on banks because it is a way more established but when it comes to earnings,payment transactions and privacy we definitely are always going to choose bitcoin. We do not use bitcoin to be a storage for our assets, instead most of us uses bitcoin to gain amounts.

[marleybobthedog]

Nope I won't open bitcoin account in bank. I don't trust any one in bitcoin world other than blockchain because blockchain is official and there is no one to steal my money from blockchain wallet. All I trust is blockchain and all other websites are fake in eyes. Because already I had suffered lot of losses from scammers

[croutonhexagon]

Sorry I trust only blockchain wallet  Because it's the most secure wallet because bitcoin relays on blockchain. I know when banks will come in bitcoin then definitely there will be more possibility of scam because then many user will open bank account of bitcoin and they will suck our money like juice

[ashiqdey]

I think having bitcoin account in banks will be secure if the banks are nationalised because they have name and fame and they can't chat us easily because if they check then they will lose their trust and people Will stop using their banks. But since bitcoin is decentralized and  still government had not well accepted the coin so that's the problem.

[requester]

I think open a bitcoin account in banks because official nationalised banks don't do any scam. They need only money and they know that it could be earned only with trust. So i  they will not scam us like other websites. And never trust any website to have a wallet our bitcoin account through 3rd party website trust only centralized and nationalised institutions in term of money.

[croutonhexagon]

In my opinion why should we need bank account to access bitcoin. Simple make a blockchain wallet that it. There is no need for going under lot of process and waiting in long que in banks.
In blockchain wallet simple keep the wallet id and password remember or write wherever  that's it you don't need anything else to access your bitcoin account and even blockchain wallet have Android and ios app too so it's another positive point.

[Barbut]

This under b, if my coins are insured sounds tempting, but I vote for sure NO. Like always they are just trying to trick us to go to them and open account. They will offer this and that, but when you ask there, they alsways do one thing " Yes sir, but you have that only if.... and plus there is small font, did you saw what is written there, sir".
I would not open account in my local bank, I will go with other channels if its possible. This would be my last option, if they just blackmail me somehow, to tell me that I can`t live and work, get salary, buy food without this account in my local bank then I would open it, but just in that case.

[unamis76]

I wouldn't do this in any circumstance, it defeats the purpose of Bitcoin.

[thejaytiesto]

I say no because you can already have a bank account with fiat, then why would I want a bank account with bitcoin? the whole point of bitcoin is being your own bank and not needing third parties. If I need to interact within the traditional banking system, I can use fiat already, so I don't see a point in mixing both worlds.

[lorinchiotea]

yes. i would open but for small amounts like monthly overheads. it is already existing. however this bitconmania across internet has it s own misteries. it is just a business and not real currency. if it is so safefty as the fake japanesse says why there is such a risk for funds being stolen
 in fact in digital currency if they really want yhen each bitcoin has a serial number like real money have and can track all history where it cames and goes to. it s impossible that this has been forgotten unless the creators wants mess... bank will give more ideas ...

[ronaldo40]

lol, of course I would never do that. I think we already have savings fiat in the bank. then why should create an bitcoin account at the bank? This obviously will change the difference between bitcoin and bank. bitcoin comes with having a lot more benefits than banks. so that people could certainly make another choice when banks have problems. such as the case of Greece, the bank went bankrupt and they try to move to bitcoin.

[Dudeperfect]

I have casted my vote in favour of yes because I think banks can push bitcoin technology on next level which would take tremendous efforts for us as a community. I am not saying banks should control whole bitcoin technology but I would have no problem if some of my bitcoins are regulated by banks. I won’t mind if there is any breach in anonymity because I know I am not doing anything illegal and thus no issue if banks are giving my information to government.

[BurtW]

This thread almost perfectly separates the people who know and love what Bitcoin is and more importantly what Bitcoin can do for the cause of true economic freedom and privacy from those that are just ignorant immature sheep who fear freedom, fear taking control and responsibility for their own lives, fear privacy and through their own ignorance and fear will bend over and take it up the ass from the bank/government fractional reserve fiat monopoly money cartel again.

Ignorant sheep who state they will happily exchange their personal responsibility, privacy and true economic freedom for the illusion of security, the fantasy of gain through interest and/or the lie of "more convenience":

jerowacik     Supposedly a Hero Member.  Signature spammer.  Purchased account?
Shady
InvoKing      Supposedly a Hero Member.  Signature spammer.  Purchased account?
jacktheking  Supposedly a Hero Member.  Signature spammer.  Purchased account?
jossiel
Woodie
Juggy777
bitjoin
I Am Hero     No you are not.
NeuroticFish
Red-Apple
OliynyK
talkbitcoin
Carlsen        Supposedly a Senior Member.  Signature spammer.  Purchased account?
Pursuer
harizen        Supposedly a Hero Member.  Signature spammer.  Purchased account?
ashiqdey
requester
lorinchiotea
Dudeperfect   Supposedly a Senior Member.  Signature spammer.  Purchased account?

Bitcoin savvy freedom, privacy and responsibility loving intelligent individuals:

LTU_btc
bhadz
machinek20
calkob
sunsilk
Kakmakr
avatar_kiyoshi
aubert
SamMurphy
Wandering Soul~
romero121
isen
Oilacris
hasiramasenju
ETFbitcoin
stomachgrowls
BitHodler
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thejaytiesto
ronaldo40

[eternalgloom]

Definitely no, since I wouldn't like to lose control over my funds and you'd probably have to pay fees to open an account.
I just don't see any benefits to it.

[Ryananda]

If the local bank received bitcoin sure I believe it will incur additional costs, and possibly the use of bitcoin will be constrained by the bank. So

if that happens I might not make it, because bitcoin is already well only with the wallet. Bitcoin wallet store use has been very good in my

opinion because we can organize and manage our bitcoin without interference by other parties.

[BurtW]

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You have just accepted an IOU from the bank which states you "have" that many Bitcoins on account at the bank.

You can now write checks on that amount which other people can accept as payment.  Is a Bitcoin check in the amount of 1.2345 BTC to someone actually Bitcoins?  The answer is no it is not. It is a promise to pay the bearer Bitcoins.  You have just recreated the use and acceptance of debt as money.

Not only that you have just lent your Bitcoins to an entity (bank) whose entire purpose is to lend out your Bitcoins to someone else and make a profit.  Their entire purpose is to recreate the fractional reserve banking system.  Their entire purpose is to gamble with the Bitcoins you just lent them.  They have no choice.  It is their business model.

The second people start lending their Bitcoins to banks they have recreated the fractional reserve banking system.

The answer from anyone who really understands Bitcoins, loves Bitcoins, what they represent, why they exist, should not simply be "no I will not lend my Bitcoins to a bank in order to reproduce the fractional reserve banking system".  It should be:

There is no fucking way I will lend my Bitcoins to the fucking banking system so they can use my Bitcoins to recreate their fucking house of cards Ponzi scheme fractional reserve banking system.

Having said all that, it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins.  This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves - and most people are sheep being lead to the slaughter.

The difference with Bitcoin is that you can choose not to participate in their scheme to rape you.

For examples of sheep being led to the slaughter and/or asking to be raped again just read the next post and the many more before that and after that from clueless ignorant fools who do not even bother to read this thread or think before posting:

[Sharma]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

I go for maybe option.I guess if i have lots of bitcoin and if it is legalized in my country, I would be happy to keep my bitcoins in Bank.Anonymity is not an issue for me as I dont have anything to hide

[1Referee]

No. I am happy that I have nearly 50% of my total wealth stored in Bitcoin, and thus outside the banking system. Whatever reward the bank will be offering me to store my coins there, I will never accept it. I rather don't gain anything, but have my coins under my own control, than earning a certain amount of interest, and me having to trust a third party with my coins. NEVER! Only empty headed people will see value in such an initiative from the bank. They are basically selling the biggest value that Bitcoin can offer them for a fake sense of security that banks offer, and also a shitty interest rate. Bitcoin gives them the option to enjoy financial freedom, but some noobs are dumb enough put this chance to waste.

The difference with Bitcoin is that you can choose not to participate in their scheme to rape you.

I like that one.

[amacar2]

I have voted for maybe because it is sure that i will not be as comfortable as i am storing my bitcoins in any local banks rather than in hardware or paper wallets. So on some occassion if i need to purchase or exchange small amount of bitcoin i will open a bitcoin account but will not use it to store my larger sum of bitcoin.

[ethereumhunter]

i would not open a bitcoin account at my local bank because it needs my details id for verification and beside that i already have a bank account for saving fiat so i think i don't have to open another account to save my bitcoin better i save it in my private wallet. bitcoin is about anonymous and every person have the right to choose what they want and can not be push by any other company or governments.

[piloder]

I will never gonna trust my banks with my bitcoin as they will be in full control of all my bitcoins in those bank's bitcoin account (if they have any in future). They can easily send, block, empty all bitcoins in time of investigation or if they got hacked. Banks are known for all the shady works behind the scene.

[jtipt]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

No, that just destroys the point of using bitcoin. As you said yourself it would take away the anonymity which is one of the most popular reason why people use bitcoin, but more than it I don't want someone else to have control over my bitcoin yes it will be secure and all like Fiat is in bank but it would become more vulnerable a hacker would certainly look for hacking a bank than a person bitcoin wallet. 

[Digitalbitcoin]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Bank will make it can be a centralized whatever the ways is, can be sabotage and just can be a more profit for government. And I prefer to say no, because I have my own bank, so i  need to keep my bank secure from any malicious/suspicious things.

I agree. If Bitcoin will be authorized by any of government then it will become centralized which give more impact on characteristics of Bitcoin. Bitcoin is P2p currency with many of features such as anonymity, decentralization  etc.

If government interfere in financial institutions with centralized parameter then it can bring down trust and security which bitcoin already have.

[MONKEYJUNK]

So we use exchanges to convert the bticoin into fiat and this money go to a bank account, so I think most of us will use this feature.

The reason why people convert to fiat it's because they can't spend the bitcoins where they want, like paying bills and daily things like that, the day that it change will increase the btc price for sure because none will need to convert.

[NeuroticFish]

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You somehow ignore that people already do that. Poloniex and other exchanges allow you to send your Bitcoin there and lend it, hoping that you'll get your money back and some extra.
The difference would be that banks are (unfortunately) privileged by the governments and (fortunately) the chance they'll steal your money would be smaller than at other businesses (exchanges).

Then the fact somebody keeps an amount of Bitcoin at a business (in this case a bank) doesn't exclude the fact the same person keeps some in cold storage, some on local wallet, some at exchanges/trading and so on. People that want to earn money will try to make them work.

While you are right that keeping money on another businesses is wrong, you forgot that this already happens. The difference is that they are not called infamously "banks".
While you are right that working with "promise to pay", you didn't think that bigger exchanges can already do that. Do you really think that all of them are nice an keep all the money in cold storage instead of "make the money work" for them?

So I find your logic flawed. All the problems you stated, while real, already happen even without the banks getting a share of it.
But I will not call you names.

[Catmony]

Creating bitcoin account on local bank = giving your bitcoin in hand of banks/governments who keep on investigating you if you store even 1 bitcoin or receive higher amount of bitcoin in your account.

And they will immediately freeze your bitcoin, so there will be no point remaining of using bitcoin wallet rather than paper money and banks.

[sportis]

    The banking system and the technology behind bitcoins community is the day and the night. In the first case someone gives confidence to the financial system, gives his money to a third  party (bank system). Bank is  aware of what you do, he knows your transactions he can freeze your money if you don't use it like system wants to do. Furthermore, if bank system wants they can 'haircut' your savings. Searching to find the most recent country where banks haircut the citizen savings to save the damaged banks.

On the other side blockchain technology only 9 pages of a paper https://bitcoin.org/bitcoin.pdf gives you freedom.


So The poll question could be 'Do you want to put the wolf to guard the sheeps ?'

Of course No

[BurtW]

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You somehow ignore that people already do that. Poloniex and other exchanges allow you to send your Bitcoin there and lend it, hoping that you'll get your money back and some extra.

I do not ignore the fact that people can and do lend their Bitcoins to exchanges, Poloniex, strangers, friends, family, etc.  In fact I have Bitcoins on account at exchanges and do on occasion lend them out to margin traders.  You are correct that people can and do lend Bitcoins and there is actually nothing wrong with that.  My issue is with deposit accounts at Banks, specifically government/centrally controlled banks.

The difference would be that banks are (unfortunately) privileged by the governments and (fortunately) the chance they'll steal your money would be smaller than at other businesses (exchanges).

Might be true until the whole fiat currency house of cards begins to crumble.  Then we will see how safe your funds are from confiscation, increased fees and across the board deposit "taxes".

Then the fact somebody keeps an amount of Bitcoin at a business (in this case a bank) doesn't exclude the fact the same person keeps some in cold storage, some on local wallet, some at exchanges/trading and so on. People that want to earn money will try to make them work.

Sure.

While you are right that keeping money on another businesses is wrong, you forgot that this already happens. The difference is that they are not called infamously "banks".

Lending in and of itself is not wrong.  People need to realize that is what they are doing, that is all.  They need to know the difference between possessing Bitcoins and lending them.  Most people do not realize the difference until they loose their Bitcoins in a exchange or business collapse.  This is one of the beautiful things about Bitcoins.  It teaches very valuable lessons.

While you are right that working with "promise to pay", you didn't think that bigger exchanges can already do that. Do you really think that all of them are nice an keep all the money in cold storage instead of "make the money work" for them?

I do not think you understood what I said.  The danger here is not the lending of Bitcoins.  The danger here is the banks creating money out of thin air based on Bitcoins.  If Bitcoin deposits become common place then the next step is to create Bitcoin checks and then Bitcoin notes.  Once these Bitcoin notes are generally accepted as payment the banks are once again totally in charge, can inflate, can deflate, can control the value of these Bitcoin notes.  There can be as many Bitcoin notes as they want.  All "backed" by the pool of actual Bitcoins. The actual pool of 21 million real Bitcoins will eventually "back" a huge number of Bitcoin notes.  Once these Bitcoin notes are generally accepted as money then, for the "good of the system", the value of these Bitcoin notes will be separated from the value of the actual Bitcoins and the value of them can be controlled by a central Bitcoin Bank.

Does this sound familiar to you?

 
So I find your logic flawed. All the problems you stated, while real, already happen even without the banks getting a share of it.
But I will not call you names.

I will not call you names either.  I call the people who glibly and blindly and ignorantly say "sure, there is no harm in giving my Bitcoins to the banking system and accepting Bitcoin notes instead" sheep because that is what they are.  You obviously are a thinking person, not a signature spamming parasite on this forum.

Finally, did you miss this part of my statement:

it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins.  This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves

The difference this time around is that those of us who choose not to participate in the bankers schemes will not have to participate.  Once Bitcoin substitute notes are generally accepted (basically just another form or paper currency controlled by the government, central bank, and selfish corporate interests) those of us who choose not to participate can always trade them in for real Bitcoins at whatever the Bitcoin note to real Bitcoin exchange rate happens to be.

[Wind_FURY]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Why should I open a "Bitcoin account" with a bank? So that they could use my coins and do with it whatever they want? Do you think it is safe for you to "save" your money in the bank? The money you store with them is essentially in their control and in some cases they can even freeze your accounts and there is nothing you can do about it.

[btccashacc]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Bank will never accept bitcoin, why do banks adopt it where they can't controll it moreover it makes bitcoin being centralized, however if that would happen i personally will not open account out there, they can stole or maybe freeze my money anytime, i just don't get it why do people have to trust 3rd party for storing their money while having or controll their own money it is easy to do.

[secretariat]

All of what the OP is suggesting is just a way to get us to sign but the bank will run a centralized service, while the allure could be great we must resist that possible temptation and avoid using those services.

[pooya87]

i voted maybe because it depends!

opening a bitcoin account if it allows me to buy and sell bitcoin through my bank where my money is means i am cutting the middle mad (exchange) and potentially cutting a lot of fees (exchange trade fees and deposit/withdrawal fees) so it is saving me a lot of money.

also it depends on the rules they are going to set, like if i can withdraw any amount of bitcoin that i want, are they going to give me profit, how good is the cards they issue and so many other things.

for me it is not just black and while like others saying NO to banks and absolute YES to bitcoin.

[electronicash]

i voted maybe because it depends!

opening a bitcoin account if it allows me to buy and sell bitcoin through my bank where my money is means i am cutting the middle mad (exchange) and potentially cutting a lot of fees (exchange trade fees and deposit/withdrawal fees) so it is saving me a lot of money.

also it depends on the rules they are going to set, like if i can withdraw any amount of bitcoin that i want, are they going to give me profit, how good is the cards they issue and so many other things.

for me it is not just black and while like others saying NO to banks and absolute YES to bitcoin.

whether you can buy and sell your bitcoin throu your bank or not, you still have to deal with them before making transactions as your btc is stored to them, that something of a compromised in a legal way.

[NeuroticFish]

While I agree with your other points, I found the main problem / difference between our logic.

I do not think you understood what I said.  The danger here is not the lending of Bitcoins.  The danger here is the banks creating money out of thin air based on Bitcoins.  If Bitcoin deposits become common place then the next step is to create Bitcoin checks and then Bitcoin notes.  Once these Bitcoin notes are generally accepted as payment the banks are once again totally in charge, can inflate, can deflate, can control the value of these Bitcoin notes.  There can be as many Bitcoin notes as they want.  All "backed" by the pool of actual Bitcoins. The actual pool of 21 million real Bitcoins will eventually "back" a huge number of Bitcoin notes.  Once these Bitcoin notes are generally accepted as money then, for the "good of the system", the value of these Bitcoin notes will be separated from the value of the actual Bitcoins and the value of them can be controlled by a central Bitcoin Bank.

Does this sound familiar to you?

It sounds familiar, but I don't think that this is possible with Bitcoin and I'll tell you why.
Bitcoin is like gold, not like fiat. While the banks have gold in their vaults (or not, who knows?), they create fiat from it, not gold.
So from Bitcoin they will be able to create, again, only cash ("out of thin air"), no "Bitcoin notes" or such (and even if they would create Bitcoin notes, they would be something totally different from Bitcoin, not interfering the valuation of one with another).
They do their schemes with fiat because the local currencies are government's/central bank's property (more or less, please allow me to not be 100% exact on this) and their valuation and inflation is agreed by the central bank and government (depending on the country/union). Bank notes (fiat) are what their name tells. Some paper (or whatever) that has a value depending on the bank.
I don't know how to explain it better. I think that the analogy with gold is the best I could give now I hope it made sense.

You obviously are a thinking person, not a signature spamming parasite on this forum.

Thank you, this come nicely after somebody asked me last week (or so) if my account is bought or I am just a sig spammer.
(I was very wrong on a matter, but some forget that humans are allowed to also mistake).

[BurtW]

Bitcoin is like gold, not like fiat. While the banks have gold in their vaults (or not, who knows?), they create fiat from it, not gold.

That is exactly my point! 

Bitcoin is like "digital gold".  Bitcoin == gold.  Bitcoin notes == Federal Reserve Notes == "dollars".

The current fiat garbage we use was originally backed by gold/silver.  At one time one dollar was defined as equal to  exactly 1/35th of an ounce of gold.  You could go to any bank and turn in 35 "dollars" = technically "Federal Reserve Notes"  = gold notes = paper IOUs from the Federal Reserve that substitutes for something real = gold substitutes, for one ounce of real gold.  The banks had no choice.  You can see this from the original obligation printed right on the notes:

This note is receivable by all national and member banks and Federal Reserve Banks and for all taxes, customs and other public dues. It is redeemable in gold on demand at the Treasury Department of the United States in the city of Washington, District of Columbia or in gold or lawful money at any Federal Reserve Bank.

The term lawful money is very interesting, check out the history of that term some time. 

Eventually there were so many Federal Reserve Notes in circulation that the amount of actual gold held in reserve "backing" all the notes was a total joke.  At that point the we just stopped backing the FRNs and we ended up with what we have today, currency by fiat, the value of which is controlled and devalued on purpose by the Federal Reserve system.

Just look at the current obligation written on you Federal Reserve notes.  Very different from their original obligation wouldn't you agree?

This note is legal tender for all debts, public and private

It is inevitable that this will happen again as history always repeats itself until people learn from it.

Check out the deterioration of the obligation clause over time here:

https://en.wikipedia.org/wiki/Federal_Reserve_Note

[NeuroticFish]

Bitcoin is like gold, not like fiat. While the banks have gold in their vaults (or not, who knows?), they create fiat from it, not gold.

That is exactly my point!  

[...]

I've read all you said, but it's too long to quote it here.

All right, but we know that fiat is flawed and it's doomed. Whatever they'll add to gold - whether it's silver, Bitcoin or seashells - to their reserve, it doesn't matter.
Meaning that if they want to do their thing with Bitcoin and they cannot, they will find a replacement (probably diamonds, platinum or palladium) and they are done.

So, back to square one:
1. Banks will play with fractional reserve with or without Bitcoin.
2. The goods used as reserve did not diminish their value because of this.
3. The goods used as reserve did not become more abundant, they became scarcer.

So from what I see the banks will not harm Bitcoin if we use Banks to deposit Bitcoin there.
The only things that may be harmed are the local currencies, but if the banks want to do that they'll do it with or without Bitcoin.

So I still don't see where I'd lose if I'd make a "Bitcoin account" there.

Edit: Aaaaaahhhh! I think that I fully understood your point after posting. We don't deposit seashells or palladium, banks use what we have deposited for their play. So if we make Bitcoin account we do harm our currency.
It's not that much, but I got it now. This also happens though if I'd deposit fiat, so Bitcoin is still odd in the equation.

[BurtW]

The danger is not for you personally.  You know the difference between a Bitcoin and a Bitcoin note.  The danger is for all those people who will accept and use Bitcoin notes and believe them to be "as good as" Bitcoins or basically a safer government backed and controlled version of Bitcoins.  The danger is that, once again, the general public will fall for the same old central bank scam and Bitcoin notes become "Bitcoins" in the public mind.  Just like Federal Reserve notes have become "dollars" in the public mind.

Go ahead and put your Bitcoins in the bank for the illusions they peddle.  You are informed.  You know they are no longer yours and you are accepting the banks IOU and word they will give them back when you come to demand them back.  You are willing to take the risk.  There is nothing wrong with that.

My concern is on a larger scale.  My concern is for the concept and good name of Bitcoin.

[NeuroticFish]

Go ahead and put your Bitcoins in the bank for the illusions they peddle.  You are informed.  You know they are no longer yours and you are accepting the banks IOU and word they will give them back when you come to demand them back.  You are willing to take the risk.  There is nothing wrong with that.

You're right. You won.
It was a good discussion and you've convinced me.

I understand now why the best answer is

There is no fucking way I will lend my Bitcoins to the fucking banking system so they can use my Bitcoins to recreate their fucking house of cards Ponzi scheme fractional reserve banking system.

I won't open Bitcoin account at the bank. You changed my mind.

[rajasumi3]

No matter what ever it is .i would never ever open a bank account in bitcoins.i would not ever trust them at all .i would rather keep it in my wallet and sell it whenever it is necessary.

[myparentsdisownedme]

yeah  dont think id do it a local bank to be honest

i think there should be some sort of anonymous bank tho, that would be sweet

[RobFre]

In my opinion the whole point of the Bitcoin system is to "be the bank of myself". This would make no sense opening a bitcoin account at a bank so no, I wouldn't do it 
Also this I also have a small number of bitcoins and thus I feel more confortable privately owning them.

[nara1892]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

probably I would open an account. I am not really sure because as you explain above, the system would be like we save fiat in banks, so what makes it different anyway? and what about the security? would it be save in banks hands? I am not really sure.

[MingLee]

It depends on what I would be getting out of it, but I would not be against the idea of opening up a Bitcoin bank to be honest.

It all comes down to the features offered and all the things I would be able to get out of it. For most people, there simply wouldn't be a reason to open one (mostly because at this stage not many people use it), but it all comes down to what the bank can offer.

[bryant.coleman]

Why not? A bank account through which we can trade and store our coins offers a lot of advantage. I'll immediately open one, if my bank has such an option. It will be quite convenient and safe. But I will never store any significant amount of coins in that account, and I'll transfer coins only when I need to exchange them for fiat.

[Zadicar]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Why should I open a "Bitcoin account" with a bank? So that they could use my coins and do with it whatever they want? Do you think it is safe for you to "save" your money in the bank? The money you store with them is essentially in their control and in some cases they can even freeze your accounts and there is nothing you can do about it.

This is the possible consequence or scenario that would possibly happen if you decide to put your bitcoin on a bank and you are right bank will definitely use those bitcoins for other business purposes and also why we would bother to put our bitcoin on banks since there are lots of wallets to use and besides we do have the full control on our money unlike in putting it to banks.

[mrkevio]

I wouldn't. Why would I open an account at a bank when that destroys the best feature of Bitcoin (anonymity)? If banks will want to do that, they'll want control over Bitcoin too. That would mean you would have your own real name on that account, you will have every transaction tracked. After one bank would do that, be sure other ones will follow the same path.

[Ipwich]

I wouldn't. Why would I open an account at a bank when that destroys the best feature of Bitcoin (anonymity)? If banks will want to do that, they'll want control over Bitcoin too. That would mean you would have your own real name on that account, you will have every transaction tracked. After one bank would do that, be sure other ones will follow the same path.

I agree with you,why make hussle?I don't think it make sense the connection of banks with bitcoin,banks will maybe take advantage on how to control over bitcoin.And perhaps  at that time the reliability on how bitcoin works to mostly anonymous members will be traced.So for me better to keep it this way,easy transaction without any hussle to anyone to do their own business.

[philiveyjr]

Private banks might get involved into it but I dont see it becoming a success. Why would you put your BTC in a bank in the first place? May b for the interests and interest rates. If it is secure then I might give it a shot but there's a long way for that to happen. I dont see any banks showing interest as of yet. They might take a couple of years for BTC to become mainstream and then there might be this possibility.

[The Sceptical Chymist]

No.  If I had millions of dollars in bitcoin I might look to insure it somehow, or hedge against loss, but I wouldn't need a bank to store it.  And I certainly don't have nearly enough to worry about doing either of those things.   My mycelium wallet is just fine,  thank you.   No banks required!

[Karpeles]

Why not, if the fees are fair?

Would not be worse than use an exchange

Exchanges still are riskier than banks

Also we don't have to put everything on banks

[avikz]

Firstly, no local bank accepts bitcoin in my area as a deposit. They just don't have any idea about what bitcoin is. So for me there is no chance that I will be able to open a bitcoin account with my local bank.

However, given a chance, I would not go with it. because, bitcoin is still not accepted in my country and the government is still not giving a shit about it. Hence it is always better to use bitcoin through an offline wallet or online wallet. At least I will not be taxed until I choose to convert it into fiat.

[housebtc]

The result of the poll shows for itself, over 60% say NO, with bank nothing is free, what they will be looking for is to have total control of your Bitcoin also the KYC and AML policy will make it difficult to do some transactions

[Omega Weapon]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Of course not, that will only contribute to help banks to monitor us and other bitcoin users by allowing them to store your coins  and I will add doing that is completely opposite to what bitcoin is about.

[ASHLIUSZ]

Opening a bitcoin account into a banks looks similar to that opening a bank account. However we consider to be our own bank, we will be controlled by some authority. For this reason there is no need for an bank to help us create accounts and help in transaction and other necessary functionalities.

[terrate]

yes if FDIC insured.

because very convenient. My country difficult to get bitcoin and exchange.

[bitloud]

I use bitcoins because I don't want to be controlled by bank, declare my bitcoin funds, pay taxes for it. Bitcoin in banks is something against idea of bitcoin.

[Mr. Big]

Opening a bitcoin account into a banks looks similar to that opening a bank account.

Coz that is what OP asks...We are asked if we are willing to open a bitcoin account in a local bank... Most probably it is already considered a bank account..

However we consider to be our own bank, we will be controlled by some authority.

Well, that is one of the consequence that we will have to think about when we do apply for a bitcoin account in a bank, they hold your bitcoin....

For this reason there is no need for an bank to help us create accounts and help in transaction and other necessary functionalities.

Well, who knows, they might be offering something that could be very favorable to us...

Anyway, as for my opinion, I'll go for a bitcoin account in a bank, provided that it is secured and insured... Actually it is a great help to us since we will not be worrying about our bitcoin in our desktop and probably give us a good night sleep without checking if our PC for spies... Who knows, bank might offer us what they are offering to their fiat depositors... 

I think one of my condition before transferring my bitcoin to theirs is they should not ask my name or any information about me aside from my signed message and theirs... No asking of where my funds came from or even asking where I am using it... 

[agatha818]

no sir, i think my bitcoins are safer in my wallet, i don,t really trust the bank,  i like the privacy, and my bitcoins are secured in my computer and wallet.

[lienfaye]

Im contented with my wallet account so there is no need. for me its a hassle to go to bank just to deposit or inquire. and our local btc wallet is also connected to our bank account so its very easy to cash in and cash out.

[hl5460]

Bitcoin's purpose is to eradicate the bankers.

[diegz]

no sir, i think my bitcoins are safer in my wallet, i don,t really trust the bank,  i like the privacy, and my bitcoins are secured in my computer and wallet.

Actually it's your preference. If you are comfortable keeping your bitcoin in your desktop then that's fine. But lets not forget what the banks did to fiat and the economy. So probably when bitcoin is in banks, it might grow fast (not the value or ROI) but the adoption.

Im contented with my wallet account so there is no need. for me its a hassle to go to bank just to deposit or inquire. and our local btc wallet is also connected to our bank account so its very easy to cash in and cash out.

We can inquire on banks thru online. Most of them has online supports and been posted in their website. When it comes to hassle, well, banks could release ATM's so you won't go at them each time you want to withdraw. There will always be a way to make things more convenient.  

[sportis]

yes if FDIC insured.

because very convenient. My country difficult to get bitcoin and exchange.

The way I see it is like saying to put the wolf to guard the sheep. So using my bank I cannot understand what benefits for me to have an account of bitcoins and not an account of strong fiat currency. Moreover I cannot understand the convenience. I really believe is better to keep bitcoin in my desktop wallet and If I want to buy some coins to use sepa?

[1Referee]

Why not, if the fees are fair?

Because you then rely on a third party to control your coins. It's an unnecessary extra step where you expose yourself to various risks. But if you're fine with that, then it's your choice of course.

Would not be worse than use an exchange

Exchanges still are riskier than banks

Exchanges have indeed messed up big time, so in that regard, I think you have a decent point there. It's impossible to trust the current incompetent exchanges as they continue to mess things up. I even consider banks to be more trustworthy than all these shitty hobby run exchanges. That's the exact reason high level institutional traders won't jump into Bitcoin. They don't feel safe wiring multi millions to these exchanges, and I can't blame them for thinking like that. That's why we need a professional platform that allows these traders to bring their millions to Bitcoin.

[bestluck]

First of all in our banks bitcoin has not been started. But if in the future it has been started then I will look at the features and benefits they offer to me for keeping my bitcoins. For me it will be like an online bitcoin wallet so I will keep that much bitcoins which I am keeping in online wallets.

[jak3]

i am a kid who do not even have a bank account till now, i expect soon i am gonna have that but if they started serving bitcoin debit cards well yes ofcourse i am gonna accept not becuase that they are using the bitcoin technnology but becuase using bitcoin techonology is better than using banks old technology. banks stores their money physically so the only way to get that money is the robbery but as we know that they gove loans  so thats makes it even worse. but bitcoin dose not allows such nonsense to rob  bitcoin one thief has to be the freaks mastermind genious of hacking world and cryptography

[Xester]

If a chartered bank releases or hosts a bitcoin wallet then I will open an account. That way I will feel secured from hackers, since if anything happens to my bitcoins under their care they must refund all my coins. There is no problem with banks having bitcoin its like opening an account on web wallet sites. The biggest advantage if a bank handles bitcoin is that you can automatically  convert bitcoin into local currency and withdraw on any atm machine nationwide. But if they will launch another coin aside from bitcoin then that is a different story.

[Wandering Soul~]

First of all in our banks bitcoin has not been started. But if in the future it has been started then I will look at the features and benefits they offer to me for keeping my bitcoins. For me it will be like an online bitcoin wallet so I will keep that much bitcoins which I am keeping in online wallets.

Yah, If its just a copy paste of our banking system and the only different thing is that they accept bitcoin then its not worth a shot .
Why would you keep your bitcoin in your local bank when you can just buy a hardware wallet or a cheap notebook to store your bitcoins? That way you can fully control your bitcoins, You don't have to pay a bunch of fees and submits a bunch of documents .

If it happens that someone makes a bank that accepts bitcoin even though its doesn't make sense . It must have some kind of innovation or people won't even try it .

[webtricks]

If I can manage my Bitcoin without any worry, why in the hell I would need Bitcoin Bank. Bank provides safety, so I am sure my Bitcoin is already safe. Banks provide interest, so I think would be impossible for them with Bitcoin. So a big no to Bitcoin Bank!
And if you talk of balance in ecosystem, I hardly think Bitcoin is meant for stability. Its a free bird!

[erickkyut]

I think there's no need for me to open a bitcoin account in any banks if ever they are accepting bitcoin deposits because I can have my own account without the help of the banks. I'm contented on the bitcoin wallet provider because opening an account in the bank will require too many requirements and aside from that, there will be maintaining balance.

[Taki]

I think I would. I have rubble account and dollar account in my bank, and because of I making money only with bitcoin this days I think I would open such account. But the function of just keeping money doesn't satisfy me, cause of I keep my coins on my USB wallet and I count it's pretty save. I am more interested to use that bitcoin account for all the operations with bitcoin, but again only with avoiding unnecessary fees.

[iram3130]

The obvious answer will be a big NO as the major advantage with Bitcoin is Anonymity. But I wanna try with the Maybe option as no one knows how that will work out. If Bitcoin got legal then there will be a bank and people have to open an account in order to use it. And I use Bitcoin for only legal things, I won't mind doing this.

[jualidbitmixer]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

Meh, i prefer stay on online bitcoin wallet blockchain. If my local bank accept bitcoin it will be a good news for bitcoin but  it become not anonymous anymore. I think i will open a bitcoin account at my local bank if they give interest like i stored my fiat at the bank.

[wildan88]

absolutely not. the advantage I get of bitcoin wallet is free of tax. If I had to do that, I think nothing special from bitcoin wallet if managed by the bank.
so altogether I'm not interested in making it

[xuan87]

No, not interested at all, I choose to used bitcoin because i want to hide my wealth from everyone,I want to used my bitcoin for gambling, if a country forbid gambling and I used bitcoin that store in local bank and send it to gambling site then i will arrested, so I just want to be out from spotlight when I used bitcoin

[Immakillya]

Thats a big NO to me. Bitcoin is not design for that. It will just destroy bitcoin features. Besides, we have already a wallet. I think its safe enough to store our bitcoin there. Banks are centralise, and the opposite of it is bitcoin that is decentralised. Bitcoin is anonimous. It will be more complicated if you put it into centralised system because bitcoin can be use for laundering and banks are against money laundering.

[BillyBobZorton]

Thats a big NO to me. Bitcoin is not design for that. It will just destroy bitcoin features. Besides, we have already a wallet. I think its safe enough to store our bitcoin there. Banks are centralise, and the opposite of it is bitcoin that is decentralised. Bitcoin is anonimous. It will be more complicated if you put it into centralised system because bitcoin can be use for laundering and banks are against money laundering.

Yeah it's pretty stupid. As soon as you connect your bitcoins to a bank the anonymous features are over, which goes against the main point of bitcoin which is to avoid surveillance by 3rd parties.

I guess there always be a market for casuals that need a bank so im ok with it.

[buwaytress]

I was just going to comment that the only reason I'd open an account at any bank, local or otherwise, would be to have some form of insurance on my deposit. But as it's in the poll answer, that's covered.

While my first option is to still securely store it in my own personal wallet, I suppose there are some benefits to having my coins insured against loss.

[Dmitry.Vastov]

That doesn't make any sense to me. Thats not the nature of bitcoin. Putting it on a centralised system could possibly kill bitcoin. And im sure many wouldn't agree with this, even if banks will accept bitcoin. Anonimity, thats the reason why people loved bitcoin. Its a freedom for us. Banks cant give you that.

[electronicash]

can bank really someday adds bitcoin on their list of currencies that we can deposit?
i bet the bank secrecy can be bend and that the government can ask the information of btc clients they have so see who these people are. and that they can collect taxes.

[bamboylee]

No. They already have my fiat, I do not want them to have my bitcoins too. If something happens, I do not want my fiat and bitcoins locked by banks. And besides, it is most likely that banks will not support bitcoin. Maybe they can adopt the technology or blockchain, but not bitcoin itself.

[Kray]

I will stay away from storing my bitcoin in a bank.

[Edraket31]

If a local bank for a bitcoin account, why not? I would love to that at least it is more easier to get my money but the disadvantage is the bank will withheld tax in my account or worst the transaction cost is possibly higher than others, if that happen I would open account but not all. I'll just save some.

[szpalata]

If a local bank for a bitcoin account, why not? I would love to that at least it is more easier to get my money but the disadvantage is the bank will withheld tax in my account or worst the transaction cost is possibly higher than others, if that happen I would open account but not all. I'll just save some.

It's not the best practice and I wouldn't open a local Bitcoin bank account because it defeats the purpose of decentralization. I beg to differ if it's easier to access your account with the banks than your wallet? That's totally false because with the blockchain you have access to your funds 24/7, most of these banks close after 5pm. Security and accessibility are just 2 golden virtues of bitcoin.

[Rockie1234]

Of course not! If I register my bitcoin account with my bank, I am essentially saying: "Here are my banking details, this is the address I own, feel free to track my transactions." You're inviting your government to trawl through bank records and I have no doubt they already do.

[ophyrim]

I am using bitcoin for the investment. I mean for my future. So I think yes, I will open an account for my bitcoins and other cryptocurrencies when my local bank will provide me this service. I know the spirit of bitcoin is its anonymity but I trust my local bank more than blockchain.

[European Central Bank]

nah. my coins are just fine where they are. i do think it's something a lot of other people would make use of. very few people give a shit about internet security but i wonder what the possible restrictions would look like and i don't see how insuring the deposits would ever work.

[richardsNY]

Thats a big NO to me. Bitcoin is not design for that. It will just destroy bitcoin features. Besides, we have already a wallet. I think its safe enough to store our bitcoin there. Banks are centralise, and the opposite of it is bitcoin that is decentralised. Bitcoin is anonimous. It will be more complicated if you put it into centralised system because bitcoin can be use for laundering and banks are against money laundering.

Yeah it's pretty stupid. As soon as you connect your bitcoins to a bank the anonymous features are over, which goes against the main point of bitcoin which is to avoid surveillance by 3rd parties.

I guess there always be a market for casuals that need a bank so im ok with it.

It's indeed hard to swallow seeing certain people throw the fact that they own everything in full and the ability of maintaining an anonymous identity to waste so easily. But it's their choice as they apparently don't add much value to these features. I think they nurse themselves with the idea of having bank level of security and other benefits such as interest over their stored coins.

[maydna]

i give my vote to not open a bitcoin account at my local bank, because i would consider that bitcoin is my secret to make money, beside that i want to learn how to manage my bitcoin with myself so i hope it will useful to me to make decision when its time to save and spend my bitcoin.

[LeGaulois]

A Bitcoin account at your local bank would means banks are involved into bitcoin and the possibility of their influence in the market, ect, could be quite important. Wich from me would means the total opposite of the purpose of cryptocurrency
You don't want banksters having even 1% control about anything related to bitcoin, we don't need the rats on the boat

[eternalgloom]

A Bitcoin account at your local bank would means banks are involved into bitcoin and the possibility of their influence in the market, ect, could be quite important. Wich from me would means the total opposite of the purpose of cryptocurrency
You don't want banksters having even 1% control about anything related to bitcoin, we don't need the rats on the boat

In the scenario that you describe, how exactly would 'banksters' have any control over Bitcoin? Any entity should be able to trade Bitcoin, even banks.
My guess would be that if banks get into Bitcoin and start trading, prices would skyrocket.

[Omega Weapon]

Private banks might get involved into it but I dont see it becoming a success. Why would you put your BTC in a bank in the first place? May b for the interests and interest rates. If it is secure then I might give it a shot but there's a long way for that to happen. I dont see any banks showing interest as of yet. They might take a couple of years for BTC to become mainstream and then there might be this possibility.

Don’t underestimate how tricky banks can be, I think they are going to try to pull off the same scam they have always done, they will state they could secure your coins better than you and if they offer interest rates you can be sure there are going to enough fools that are going to fall for it.

[Mbah Slamet]

The bank account is sufficient, if it is open bitcoin bank acount was certainly no different with fiat money. With their bank would make bitcoin operations will depend on the bank, I think this is not effective.

[Rude Boy]

I would say no! Because, anonymity and decentralisation are the core concept of bitcoin. If a bank could provide me a bitcoin account, there's no point in using bitcoin. And why should I depend on a bank to create a bitcoin account? When I can create many accounts as possible I can create myself.

[Mastsetad]

Not at all. Why would i give my money to a third party for keeping them while i can keep them safe with me forever as long as i'm living. I don't need to involve anyone else in my bitcoins as i can't believe even the authorities to keep my money. Now we are compel to keep our fiat in banks as we have no other ways, but if there were a way to keep fiat as well like bitcoin then i'm sure everyone would have been doing that too.

[LeGaulois]

A Bitcoin account at your local bank would means banks are involved into bitcoin and the possibility of their influence in the market, ect, could be quite important. Wich from me would means the total opposite of the purpose of cryptocurrency
You don't want banksters having even 1% control about anything related to bitcoin, we don't need the rats on the boat

In the scenario that you describe, how exactly would 'banksters' have any control over Bitcoin? Any entity should be able to trade Bitcoin, even banks.
My guess would be that if banks get into Bitcoin and start trading, prices would skyrocket.

let's imagine for exemple all companies like kraken, coinbase, ect are owned by some holding companies owned by banks

[Pattart]

A Bitcoin account at your local bank would means banks are involved into bitcoin and the possibility of their influence in the market, ect, could be quite important. Wich from me would means the total opposite of the purpose of cryptocurrency
You don't want banksters having even 1% control about anything related to bitcoin, we don't need the rats on the boat

I agree with you, I will not do it. because certainly the bank could control your bitcoin and also account. and moreover they will know your identity, I think it was out of the anonymity of the bitcoin

[SMSabuj]

Yes, will open Bitcoin Account on my local Bank. Because, I can deposit my money and I will get my local currency for my need. So need a Bitcoin account on my local Bank. It's my personal opinion.

[d5000]

For now, I see not many advantages in opening a Bitcoin account at a bank. A normal bitcoin account is even safer than a Bitcoin bank account if secured properly, and loans can be obtained using Bitcoin-specific services - even descentralized ones.

The only advantage I can see is a Bitcoin-based debit/credit card, but technologically it should not be too difficult to implement a card-based payment system using only descentralized Bitcoin technology - the only problem would be adoption by points of sale.

[equator]

Yes, will open Bitcoin Account on my local Bank. Because, I can deposit my money and I will get my local currency for my need. So need a Bitcoin account on my local Bank. It's my personal opinion.

It is very easy to say yes, but do you know that opening Bitcoin Account in bank means you have to give your full details about yourself and what ever transaction you will do will be known by all of them, Then the difference between bitcoin and banking will be not same. I think you dont know fully detail about bitcoin technology.

Bitcoin wallet are itself a bank account so we dont need any bank account to safe bitcoins.

[geopolisch]

we can use banks if we need save for more safety.. because for me bitcoin wallet is not so safety

How you can be sure that banks will be keeping your bitcoins safely ? When banks with bulk amount of bitcoins will be able to safeguard bitcoins, why not as an individual comparatively with small amount, you cannot keep safely ?

I guess banks also will be using similar wallets what we are using right now, so we cannot expect any special safety from them.

[n691309]

This would take away from anonymity, but may help the overall ecosystem because existing members may be influenced into moving some of their funds into BTC accounts. Also, what would happen if the bank ran full nodes? Offered BTC debit cards, credit cards, and loans?

It doesn't make sense to open a bitcoin account at the local bank unless there is something extra such as new features linking with the current bank account, being able to spend the bitcoin funds through the debit/credit card and converting cash to bitcoin and vice versa. Another reason would be to extract the last 6months transactions that are needed for visa applications for some countries.

[numismatist]

Darn, my bank probably opens up for beeing "saviored" by tax money. They got an arsefull of legal liabilities left from housing bubble crashes.
No, I doubt I could built up a trust relationship with them again, ever. And seemingly Bitcoins meaning I don't even have to!