Switzerland=Bitcoin Boom

[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.

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[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.