Switzerland=Bitcoin Boom

[Pab]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

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[ged00u]

This is awesome. The new innovation for Bitcoin is coming. And i have read an article about new bitcoin shopping mall in Paris. Two good news about Bitcoin in one day. Keep rising, Bitcoin, bring the profit to me. I hope that one day my country will also open the Crypto bank system like Switzerland

[deisik]

This is awesome. The new innovation for Bitcoin is coming. And i have read an article about new bitcoin shopping mall in Paris. Two good news about Bitcoin in one day. Keep rising, Bitcoin, bring the profit to me. I hope that one day my country will also open the Crypto bank system like Switzerland

Somehow I expected something like that from them. People tend to think that the American dollar is the most reliable currency in the world while, in fact, it is actually the Swiss franc which is at the top of all fiat currencies out there. Paper Swiss francs have the highest level of protection and are the hardest to counterfeit (with the Euro being the second best in this department). Swiss gnomes also love gold, so no surprise that they seem to have fallen in love with Bitcoin too. I guess we should expect a new round of Bitcoin price rise in the nearest future...

Especially if events continue to unfold in this direction

[Pab]

This is awesome. The new innovation for Bitcoin is coming. And i have read an article about new bitcoin shopping mall in Paris. Two good news about Bitcoin in one day. Keep rising, Bitcoin, bring the profit to me. I hope that one day my country will also open the Crypto bank system like Switzerland

If this is not a fake news, then just wow!

Somehow I expected something like that from them. People tend to think that the American dollar is the most reliable currency in the world while, in fact, it is actually the Swiss franc which is at the top of all fiat currencies out there. Swiss gnomes also love gold, so no surprise that they seem to have fallen in love with Bitcoin too. I guess we should expect a new round of Bitcoin price rise in the nearest future

Looks like it is not fake news,Switzerland is somehow integrated with EU but is independent,but already swiss regulators gave green light for dgital currencys companys,i think uk will follow.UK is very much aware of digital currencys value,
Super news

[NUFCrichard]

It really does sound like Switzerland could lead the way in Bitcoin in the near future.
How hard can it be to run a bitcoin bank? No fractional reserve, so just keep people's money in safe wallets.

I guess many have failed with that last part, but a government or bank should be able to secure some Bitcoin wallets!

[bL4nkcode]

This is so nice and a very good news to bitcoin community, that's why bitcoin become more valuable this days and its continue rising. And the idea of this crypto-bank will make bitcoin to forget the power of anonymity because you have to give your personal details to open an account in this bank, but I'm sure your bitcoin will be safe there.

[Yakamoto]

Holy crap Switzerland is super dedicated to getting Bitcoin rolling within their economy.

If anything I would be quite worried that it is being implemented so widely to be honest; it's not often that you hear about some relatively obscure currency originally used for darknet purchases being implemented in one of the banking hubs around the world.

Someone should look into large Bitcoin purchases being made...

[nara1892]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

If I'm not mistaken switzerland is a rich country. so if they adopt bitcoin as currency, probably it will be easier for them to be more rich.

well OP said "let's open bank account with BTC in Switzerland". is it possibble to make bank account online? because I am far away from Switzerland. haha

[20kevin20]

I don't think the two can merge. Banks are never going to be anonymous - they want to keep track of their own users, so if you're looking for anonymity then you're in the wrong place, I guess. If you'd make an account in their bank, it means your anonymity is going to be completely gone because they're looking to control as much as they can.

[ivanst776]

This is awesome. The new innovation for Bitcoin is coming. And i have read an article about new bitcoin shopping mall in Paris. Two good news about Bitcoin in one day. Keep rising, Bitcoin, bring the profit to me. I hope that one day my country will also open the Crypto bank system like Switzerland

From the article seems that is only a proposal and let's see when it get approved and applied in the real life.

I think that these two recent news are making the bitcoin price to rise to the moon, and I like the charts when there are green color.

[The Sceptical Chymist]

Well it looks like we're the new wealthy elite,  gentlemen.   Lol.

Nice to see bitcoin in the mainstream,  and the Swiss have always been a little more financially enlightened than the rest of the world.   Still going to keep BTC in my own wallet no matter how many banks get wise. 

[MingLee]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

I cannot actually believe that this is being reported. I'm not 100% convinced that this is 100% true, but if I start hearing more about it I'll be a lot more inclined to believe it, and this is absolutely huge news. The Central Bank bending the knee and considering Bitcoin as a currency it will allow is something I simply cannot believe as an actual event occurring. I haven't been here long, but it's still insane.

[pitham1]

They are talking about a new type of bank - crypto bank. It could be a fancy name for an entity which is isolated from the current financial system. We will have to wait and see how this evolves.

[outatime1]

Maybe this is why the price has risen some today. I think any positive news like this will affect the value.

[X-ray]

as i've read they're opening cryptobank,which maybe could accept crypto coin not only bitcoin but another altcoins,i guess there might be some sort of pump in btc price,prepare yourself by the way,but i'm curious whether bitcoin had been legalized yet in there?

[OROBTC]

...

Switzerland is a very advanced country with an excellent understanding of everything financial.  I am not surprised that they are among the leaders in identifying BTC opportunities.

Makes me want to go back there, it has been a long time.

It's a beautiful and safe country, highly recommended for travel & tourism.  And if they make it easy to buy BTC, well, book me a ticket and a hotel room!

[lionheart78]

I read the article and think that this is a great news for bitcoin. With this another set of bitcoin hype and positive speculation will fill the bitcoin society.  Not only that a government supporting cryptobank but applying it to daily transaction is the best way to spread crypto usage.

...

Switzerland is a very advanced country with an excellent understanding of everything financial.  I am not surprised that they are among the leaders in identifying BTC opportunities.

Indeed those who have understanding in finances will see bitcoin potential, and the advantages bitcoin can bring if they adopt its technology.

Somehow I expected something like that from them. People tend to think that the American dollar is the most reliable currency in the world while, in fact, it is actually the Swiss franc which is at the top of all fiat currencies out there. Paper Swiss francs have the highest level of protection and are the hardest to counterfeit (with the Euro being the second best in this department). Swiss gnomes also love gold, so no surprise that they seem to have fallen in love with Bitcoin too. I guess we should expect a new round of Bitcoin price rise in the nearest future...

Especially if events continue to unfold in this direction

Definitely bitcoin price increase will be observed.

[pooya87]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

from a couple of days ago when i heard you could buy bitcoin from the train stations ticket machine thingies i have done some more search about Switzerland and i gotta say it seems like a bitcoin haven to me, and even if i wasn't sure with this news i want to move to Switzerland just for the bitcoin usage alone!

https://bitcointalk.org/index.php?topic=1677217.0

[clickerz]

Maybe this is why the price has risen some today. gI think any positive news like this will affect the value.

Yes, any good news or even speculation will affect bitcoin price. Also aside from switzerland, I thik India last days also helps propel bitcoin price, the Brexit, the Amercan elections, and Netherlands I think. So much good news already and we are nearing $800 dollars now.

[piloder]

Maybe this is why the price has risen some today. I think any positive news like this will affect the value.

May be but there will be no any exact reason for any price pump.

Actually this news shows the open mind of swiss government towards bitcoin, crypto-bank concept can be considered as nice step towards better adoption and usability of bitcoin however we may loss privacy on using those crypto-banks.

[jossiel]

So after Indias dump for their Rs 500 and Rs 1,000 and now Switzerland? We will now seeing the pump of bitcoin for sure.

And Switzerland is not just a country but it is one of the richest country in Earth so if they will make bitcoins adoption real for their central bank.

So let's expect that we are entering the new era of bitcoin.

[Omikifuse]

How exactly are they going to accept Bitcoin?

And I guess we will need to go to Switzerland to open a bank account, right?

[BitcoinPanther]

Maybe this is why the price has risen some today. I think any positive news like this will affect the value.

May be but there will be no any exact reason for any price pump.

Actually this news shows the open mind of swiss government towards bitcoin, crypto-bank concept can be considered as nice step towards better adoption and usability of bitcoin however we may loss privacy on using those crypto-banks.

Well here in my country we already lost our privacy in dealing with bitcoin, the most popular third party processor in my country requires us to submit our identity ID with selfie holding it, a phone number verification and the postal mail from government institution to confirm our residency.  But I don't mind, we need this service in order for us to take advantage on the opportunity of bitcoin. we are not into illegal activities anyway, so why does it matter.  We can still buy online stuff with full anonymity if bitcoin is only involve, but encashing it is another side of the story.

[deisik]

I don't think the two can merge. Banks are never going to be anonymous - they want to keep track of their own users, so if you're looking for anonymity then you're in the wrong place, I guess. If you'd make an account in their bank, it means your anonymity is going to be completely gone because they're looking to control as much as they can.

There is no special need to merge the two. If you need to stay anonymous (which is only pseudoanonymous as we all know), you may continue to stick to your plain vanilla bitcoins. Having said this, I don't think many people really need that type of anonymity which Bitcoin offers, and they would be just happy to use Bitcoin through banks once it gets accepted by them. If Bitcoin is no longer frowned upon by the authorities, there is no need to hide your monetary identity...

I guess web wallets should prepare themselves for a new bout of competition

[panju1]

Looks like a really good news that bitcoin is being used by a country as a currency like fiat, i think this is the first time for a country to do that if i am not wrong, if that continues to happen then nothing can stop bitcoin to become a worldwide used global digital currency.

There is still a long way to go before Bitcoin is used in place of fiat. Governments loathe giving up control, if they can afford not to.
In any case, I think Bitcoin will be adopted first by disfunctional economies, not by a country like Switzerland.

[buwaytress]

Ever since Swiss banks exercised tighter regulations and tax control on foreign deposits, plus the involvement of International courts Swiss bank accounts have not held the glitter of its past.

This does sound like good news and may revive interest away from other lingering offshore havens but we'll need more details.

[davis196]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

Is this true?Another member here was posting threads about how coindesk

is used for propaganda and spreading lies.

I don`t believe that Switzerland will adopt bitcoin.

[calkob]

why would i bother i already have a swiss bank on my mobile phone......Obama said so 

[Ayers]

Maybe this is why the price has risen some today. I think any positive news like this will affect the value.

May be but there will be no any exact reason for any price pump.

Actually this news shows the open mind of swiss government towards bitcoin, crypto-bank concept can be considered as nice step towards better adoption and usability of bitcoin however we may loss privacy on using those crypto-banks.

why you think so? if a bank start to accept bitcoin, this can eventually lead to more people trusting bitcoin and using, buying it and store it in the bank which is far safer than any exchange, so i think it will have a very good impact on the market

[ikydesu]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

Wow its so big news, let's hoping it will survive from political process.
Very curiously how crypto-banks works, also let's hoping it always be a decentralize, although i still doubt when it connected with "bank".

Anyway this is the one of reason why the price movement have more stable?

[Pab]

I think it is real,it is already in precess,from article ,looks like bitcoin and digital currencys development is Switzerland project,and that is real already.So bitcoin start up will find funding
Read article from 2 nov http://www.coindesk.com/switzerland-bitcoin-regulation/
During a press conference, Swiss Finance Minister Ueli Maurer argued that the proposed fintech legislation would help draw in more companies – though the country’s accommodative stance has already led some blockchain startups to make their home in Switzerland.

"We assume that with the steps we have prepared and the commitment we have to the overall financial services industry we can provide a solution that puts us among the top (countries) in the world that regulate this," he said, according to Reuters.

Targeted, innovation-friendly supervision and regulation
The long-term success of Switzerland’s financial centre depends largely on its ability to innovate. FINMA is therefore adopting a more pro-innovation approach to regulation and supervision and will push for the removal of unnecessary regulatory obstacles for innovative business models (Goal 5). It also remains committed to principle-based financial market regulation and will continue to promote equivalence with relevant international requirements (Goal 6).

It is real,SBB is not acepting btc yet but one of canton is already acceptng

[Pab]

How exactly are they going to accept Bitcoin?

And I guess we will need to go to Switzerland to open a bank account, right?

If you are from USA than forgot USA has FACTA
IF you are from EU propably not,it will be possible to do online i guess

[BingoDog]

Switzerland was always very progressive state in every way so I'm not surprised.
Even before that news I've heard something about the rumors that certain banks are secretly preparing themselves for Bitcoin era and to offer Bitcoin wallets in their branches for the clients. Maybe soon this will become our reality.

[Xester]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

This is good to hear that switzerland is doing this things this time. They realize what is the good thing of using bitcoin and the blockchain system. I bet this is only a beginning many countries will accept bitcoin in the future soon.

If all goes as planned, bitcoin could be practically recognized by Switzerland as a legitimate foreign currency. The move would drastically reduce legal uncertainty for bitcoin users, at least in Switzerland, namely the Swiss banking sector. It would allow Swiss authorities to apply existing foreign currency legislation to bitcoin and other digital currencies.

[Carlsen]

Switzerland is known to be well versed in matters of money handling for a long time now.
I suppose if they see that much potential in bitcoin we can not be on the wrong track.
I'm glad to see that bitcoin is getting more and more repected in the world.

[Skarner21]

I think this is the first step for new generation of bitcoin and maybe will release more good news in other bitcoin to release bitcoin banks also or banks can also accept bitcoin.. this is good news who are living in switzerland. and yeah like other said that this is one of the richest country.
So i think it can affect the value soon.

[deisik]

If all goes as planned, bitcoin could be practically recognized by Switzerland as a legitimate foreign currency. The move would drastically reduce legal uncertainty for bitcoin users, at least in Switzerland, namely the Swiss banking sector. It would allow Swiss authorities to apply existing foreign currency legislation to bitcoin and other digital currencies.

I'm not very familiar with the current foreign currency regulations in Switzerland, and I'm a little bit wary if they would actually make Bitcoin any good in comparison with the present state of affairs, even if Bitcoin is not regulated now and there is a lot of legal uncertainty for its users in that country. Honestly, I'm afraid if they could in fact do Bitcoin a great disservice at the end of the day with their "regulations". As the saying goes, the road to hell is paved with good intentions...

Anyone with a deep understanding of the Swiss financial as well as legal system?

[kanazawa]

Honestly, I've been in many countries in the world, many countries are very cool like Holland, Korea, US, Australia, but Switzerland are ultimate in everything. It's not strange that the "Boulevard" is nearly Zurich, because it's a city with a very high quality of life, students and professors are awesome. I was in Zurich and Bern this 3 last years (there and Rotterdam are my mandatory stops ). Btw, the politics in SWZ are very original too. They develop there own ideas and that's amazing. Hail to Switzerland.

[Slark]

Switzerland once again is showing the world why they are leading country of the banking and financial services. They can read the pattern of the bigger picture.
I thought that recent news about Swiss railway bitcoin adoption was strange and out of place, now I see it is all connected.
They knew that BTC can be real disruptor of the future economy based on digital assets, they are gearing up to start race before everyone else.

[babyjesusftw1]

It looks like a lot of government banks are looking into the adoption of digital currencies, meaning a lot of investors will hopefully take this seriously and make bitcoin a part of their asset portfolios.

[Pab]

Next small news from Switzerland
http://www.coindesk.com/ubs-invest-blockchain-amid-asian-expansion/

Switzerland has long tradition in alternative currencys.His complimentary currency gold frank was born in 1932 and it is still running.Trade volume is very high heavy mns of frank every month.And whatever CERN is in Switzerland internet was born there.Now i am enjoying of his encrypted email proton

[adidas]

This is awesome. The new innovation for Bitcoin is coming. And i have read an article about new bitcoin shopping mall in Paris. Two good news about Bitcoin in one day. Keep rising, Bitcoin, bring the profit to me. I hope that one day my country will also open the Crypto bank system like Switzerland

Which country would that be?
I don't think it should happen there unless the country is in of the first world and not a third world one or one that is communist like Russia or Cuba is.

[robelneo]

Did you read today coindesk,Switzerland Central Bank is going to accept bitcoin,boom lets open bank account with BTC in Switzerland
Crazy
http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

Swiss government is very open I read on the altcoin section that a swiss based company is setting up a crypto currency of their own,anyway this is not a surprise,Swiss banks are known for their secured banking system,some dictators are known to put their cash here.

[yayayo]

It's clearly a positive move, certainly among the most progressive approaches to Bitcoin yet installed by governments. However it's still bureaucratic compared to the permissionless usability of Bitcoin itself.

Concerning is the institutionalization of Bitcoin as a bank asset, which means that the government expect people to rely on third parties to store their Bitcoin which undermines the very reason for its creation. At least it is positive in terms of adoption: With the SBB ticket machines selling Bitcoin and this initiative, people in Switzerland will be able to buy Bitcoin easily almost anywhere.

Hopefully they make the right choices when it comes to choosing a wallet...

ya.ya.yo!

[bitebits]

How exactly are they going to accept Bitcoin?

And I guess we will need to go to Switzerland to open a bank account, right?

Since you seem to be a new member around here: with Bitcoin, you don't need a bank account.
You are you own bank, problem solved.

[bitebits]

Well here in my country we already lost our privacy in dealing with bitcoin, the most popular third party processor in my country requires us to submit our identity ID with selfie holding it, a phone number verification and the postal mail from government institution to confirm our residency.  But I don't mind, we need this service in order for us to take advantage on the opportunity of bitcoin. we are not into illegal activities anyway, so why does it matter.  We can still buy online stuff with full anonymity if bitcoin is only involve, but encashing it is another side of the story.

https://www.ted.com/talks/glenn_greenwald_why_privacy_matters#t-237601

[U2]

Woahhhh no I didn't realize their bank was going to accept bitcoins wtf!? Holy shit guys are you seeing this? I mean I wouldn't put my bitcoins in a bank but lots of old people will want that.

That's good for adoption which is in the end is all that matters!! Right?!

[deisik]

Woahhhh no I didn't realize their bank was going to accept bitcoins wtf!? Holy shit guys are you seeing this? I mean I wouldn't put my bitcoins in a bank but lots of old people will want that.

That's good for adoption which is in the end is all that matters!! Right?!

That cannot be said with certainty

But what could be is that banks will obviously use Bitcoin to get more profits, so we can expect the emergence of paper bitcoins, i.e. not real bitcoins but just promissory notes. We have already been there, and it didn't end well. I mean gold certificates that many banks issued in the amounts by far exceeding the amount of gold they actually had in their vaults. That gave rise to many famous bank-runs of the 19th and early 20th centuries



If Bitcoin gets universally accepted, it is just a question of time till we see something like this

[usefrees]

Why all so surprised by this news? In fact, many just dream about that Bitcoin has been recognized officially. And then - it happened. How it will end, nobody knows. But the first step towards the interaction with bankers cryptocurrency