Banks gonna do what banks gonna do....

[alexeft]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

[alexeft]

[The_Dark_Knight]

This is an interesting development, maybe they will try to do to bitcoin what they are doing to gold right now to suppress the price of gold using paper gold and that way they keep the price in check, this is a smart maneuver by the banks because if the price of bitcoin keeps increasing this could bring the attention of the people.

[thejaytiesto]

That's cool as long as it's blockchain backed. If it's backed by bitcoin's blockchain there is no problem of it being created out of thing air, unlike the current current system where the money is faked and created out of thing air at will. It's ultimately stupid since the idea of bitcoin is that it's digital but of course the more options the better. Maybe people don't want to carry their phones all the time.

[alexeft]

That's cool as long as it's blockchain backed. If it's backed by bitcoin's blockchain there is no problem of it being created out of thing air, unlike the current current system where the money is faked and created out of thing air at will. It's ultimately stupid since the idea of bitcoin is that it's digital but of course the more options the better. Maybe people don't want to carry their phones all the time.

It can't be backed by bitcoin and created out of thin air at the same time. Remember that this was happening with the dollar after WWII and Nixon had to stop it in the 70's. Too many dollars created for the gold that exists.

It is a way to cause inflation to a deflationary asset. They are doing the exact same thing with gold nowadays. You never get delivery of the gold that you buy, so they can sell more gold than there really is.

Remember people! Always get delivery of your bitcoins. That's the only way for their real price to materialize!

[Pursuer]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

this is indeed a weird thing that they are offering since there is no need of a bank to securely store your bitcoins and it certainly is not hard to store them yourself in an offline storage.
the only good side of this may be the fact that it encourages more investors to invest in bitcoin in a safe and lazy way! and it may contribute to price and the more adoption bitcoin.

however I  am also interested to know what additional features does the bank offer when you choose this way of investing in bitcoin? the article didn't say anything about this part and I am too lazy to go look for the bank site, find if they even say it on their site and even if they allow traffic from my country,... so can someone tell us more about this?

[CraigWrightBTC]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

Yes i agree and the Banks are just looking for profit and today they try to scam bitcoin's users with selling paper as bitcoin, let's against this method scam of Bank, because we can become a Bank with bitcoins.

[chesatochi]

I don't see the advantage of holding paper from a bank in bitcoin. I think is better to invest and implement a good security in cold storage and then you put your saving in bitcoin in a secure place.

Bitcoin is not a hard asset like gold, you can have it on a simple USB key and also it doesn't take much space like gold.

[Blavatsky]

Why would anyone would buy such certificates when actually hold Bitcoins is so easy and you have no need of big faults and security teams and space?

[tiggytomb]

This is a pretty good move, it will help to bring in those people that don't want to get bogged down with anything technical.

I am not sure though where the bank would be making their money by doing this, I would guess that they would charge a premium on the bitcoins or maybe a maintenance fee for looking after the coins and managing the investment, although bitcoin doesn't need banks in any way it is a good move adoption wise.

[Zadicar]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

Yes i agree and the Banks are just looking for profit and today they try to scam bitcoin's users with selling paper as bitcoin, let's against this method scam of Bank, because we can become a Bank with bitcoins.

We cant just say some accusations into banks regarding on this thing because we really dont know whats their motive on accepting bitcoin but somehow as an experienced user of bitcoin we could really say that they have plans on making money with bitcoin which is really normal for government to do as long it involves money and they could able to make money but same as others said here we should not  use this kind of way of banks since we can store it  on our own without the need of banks.

[mrkevio]

No, thanks. I prefer having my own wallet. Banks never wanted to let us be free, they always look out for profit. Although I like the fact that it's going to become popular in the world, having a Bitcoin wallet in a bank basically cancels the most important features Bitcoin provides you.

[talkbitcoin]

apart from all the obvious that (we) bitcoin users will never use such service because we can hold out bitcoins ourselves, i believe that this service will introduce bitcoin to many new investors and that is always good.

if you think about it, there are big investors who are using these banks and when they see this offer and when they check out the potential they will surely start investing and that is always good for the "price to the moon" thing

[Dassi]

Banks have finally found a way to control bitcoin (I've always known they won't want to lose control)
Before you know it, bitcoin will start facing the same problem that fiat is facing now - gross devaluation.

[PhilPrime]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

Another development and adaption in bitcoin. But banks may not need to associate in bitcoin because we can securely monitored our own btc without limits and without taxes.

[BingoDog]

Banks are "playing" with bitcoin for a long time. First it was more secretly but now is more and more open. They see their interest there because majority of them stil see bitcoin as a threat to them. So they want to influence it and control it somehow. And see what is the best way to make some use for themselves and make some money.

[Red-Apple]

this is no surprise, when there is a market and a lot of profit opportunities there is also always banks right there to take advantage of the situation. and as i said in the other topic about "banks accepting bitcoin" banks will soon start to offer much more services regarding bitcoin from wallets to profit and investment options and credit cards.

[groll]

this is no surprise, when there is a market and a lot of profit opportunities there is also always banks right there to take advantage of the situation. and as i said in the other topic about "banks accepting bitcoin" banks will soon start to offer much more services regarding bitcoin from wallets to profit and investment options and credit cards.

Yes, i agree with you!i think sooner or later, bank will also enter the virtual world of cryptocurrency!why not, crytocurrency is also money, although it was stored in digital wallet. The market of bitcoins are getting wider and wider that's why no wonder if bank will enter. We dont know yet the advantage and disadvantages of having bitcoin bank, but for now, lets be positive with this development in digital currency.

[mobnepal]

Why would anyone would buy such certificates when actually hold Bitcoins is so easy and you have no need of big faults and security teams and space?

I think they will or have to buy certificates rather than buying bitcoin themselves because of regulation and limitation of their country. And also many businessman and investors may find it difficult to understand bitcoin tech and they will just look at the profitability claimed by those banks. Banks will take bigger part of the profit from those investors if bitcoin price goes high and investors will be also happy to see their investment growing without doing anything. They will never know actually those banks are earning more than them.

[davis196]

A Swiss bank has started selling paper as bitcoins, in the place of real bitcoins. In the same way that since the ancient times, they stored your gold and gave certificates, which then became money!

Only this time, we can store real bitcoins (as oppossed to real gold) and don't really need the bank!

Read up!

https://cointelegraph.com/news/swiss-bank-extends-bitcoin-investment-opportunity-to-germany-austria

Do they charge a fee for that service?

I bet they charge a fee.

"Real bitcoins oppossed to real gold"?Gold is real,bitcoins are just programming code.