Bank in Norway now supports Bitcoin

[Stariroy]

Little by little Bitcoin is now being recognized as a tool by many banks. As the users of Bitcoin will rise, am sure that many other entities in the banking sector would take a look at Bitcoin and how they can be able to partnered with the cryptocurrency so as to facilitate better transactions and get more income as well. Banking is all about money...when they sense they can get income from something and it is legal then they will go for it.

[7daystodie]

Little by little Bitcoin is now being recognized as a tool by many banks. As the users of Bitcoin will rise, am sure that many other entities in the banking sector would take a look at Bitcoin and how they can be able to partnered with the cryptocurrency so as to facilitate better transactions and get more income as well. Banking is all about money...when they sense they can get income from something and it is legal then they will go for it.

Yes, when people understand that this is legal and can be earned with bitcoin, the number of users will increase significantly and the price will also rise very well.

[piebeyb]

I think the same thing about it where the banking system in the future will be eliminated with bitcoin

[DoublerHunter]

I think the same thing about it where the banking system in the future will be eliminated with bitcoin

Banking system will not be eliminated by bitcoin because they will not allow this to happen and banking is one of the common money transaction that you can do and without banking they cannot control the flow of money which will lead them for a panic situation. I think bitcoin will be just partner by banking system and there will be no elimination.

[buenav]

Its going to become more and more common for banks to make partnerships with bitcoin companies as it gets more popular. I don't think banks currently see bitcoin as a real currency but rather as an investment product they can offer to clients who are interested in the cryptocurrency concept.

This Norwegian bank hasn't really done much by just redirecting to coinbase but its a first step and there will be more and more interesting partnerships coming out merging the established system with bitcoin.

[LevshaK1]

I think the same thing about it where the banking system in the future will be eliminated with bitcoin

Banking system will not be eliminated by bitcoin because they will not allow this to happen and banking is one of the common money transaction that you can do and without banking they cannot control the flow of money which will lead them for a panic situation. I think bitcoin will be just partner by banking system and there will be no elimination.

Yes, bitcoin can become only a partner for the banking system, if it can survive numerous developments of competitors.

[btccashacc]

It's very rarely to see the banks collaborate with bitcoin company since they are only interested on technology behind bitcoin the blockchain not the bitcoin itself cause they think that bitcoin is such a competoitor for them. However it would help Norwegian to purchase bitcoin directly with their fiat. Btw how are fees applied when people buy bitcoin through this bank?

I think the same thing about it where the banking system in the future will be eliminated with bitcoin

Nah, i don't think so they "the bank or even the government" will not adopt bitcoin as their official currency since they can't control it. The only thing that they can do is transform their traditional system to the new system using blockchain technology, as you can see the government and financial corporation in some countries are learning this technology.

[Immakillya]

That's good. But i doubt it will be good for bitcoin holders. Banks and bitcoin are against each other. But  that's interesting see the progress of that. I saw also an upcoming bank that will accept bitcoin. Its Polybius. Let's see if this project will catch interests of people. Good luck with this project.

[gribble]

That's good. But i doubt it will be good for bitcoin holders. Banks and bitcoin are against each other. But  that's interesting see the progress of that. I saw also an upcoming bank that will accept bitcoin. Its Polybius. Let's see if this project will catch interests of people. Good luck with this project.

Yes, basiccally the Banks doesn't like bitcoin because the bank is centralization
but all of us know bitcoin is decentralized,
 it will not be successful on my opinions even the bank on in Norway
can not do purchasing bitcoin on there, just get bitcoin on markets of digital coins.

[merchantofzeny]

This just sound a bit, meh. Local exchanges in our country allow us to buy bitcoins using our money from most banks here. This seem to be the setup with this bank you mentioned. What I'm curious is, is it the only bank there that allow this?

It really isn't like that. I looked into OP's linked and their new service looks like a web wallet that is centralized removing decentralization feature to bitcoin though it seems to be setup like how you mentioned it. The only difference is that the bank itself owns the online banking site which is like a bitcoin web wallet itself. This can be good for bitcoin though since it might make more banks from Norway adopt it and thus will boost price.

Oh, cool. Ours is just an exchange, though it links to every major bank here. They're currently only working with btc and php thought I heard they're planning to include str.

Now that I thought of it, it would be cool to have an actual bank provide this service. Maybe there's a separate wallet in it for btc and fiat and you can send your trading profits to either and have that used to top up a cash card if you use one.

[mmo4me.2016]

Great information for the BTC, a new currency acceptance, I am always interested in BTC and read almost new relevant information /

[Zadicar]

A bank called Skandiabanken in Norway now supports Bitcoin. However you cannot purchase the Bitcoins through the bank, you'll be redirected to Coinbase in order to buy.

I don't have this bank myself, so I cannot test this. It seems like it's just linked to Coinbase and the bank does not store the coins on their servers.

This feature is in a beta phase, and the laws in Norway could cause conflicts. I think this is a huge step, and I hope this will soon be supported in more banks. This feature is mainly for investors, you cannot use it to pay bills and such.

Here's a link to the article translated to English:  https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw

This is a good news that a bank do already recognize bitcoin but doesnt mean they do store it which is somehow useless at all if they do redirect users to coinbase and its just like all the same on purchasing directly to coinbase.Seems like they are just making partnership? What you think? I would rather choose to use my own bitcoin wallet than bothering on buying btc through banks.

[Vaskiy]

This has been growing more and more. In a recent news got to know about Ireland's biggest bank had made tie up with several other banks to function based on a ethereum based blockchain technology for all its domestic payments. Soon can experience more and more similar acceptance from lot of banks.

[buenav]

This has been growing more and more. In a recent news got to know about Ireland's biggest bank had made tie up with several other banks to function based on a ethereum based blockchain technology for all its domestic payments. Soon can experience more and more similar acceptance from lot of banks.

And people will be using blockchain technology indirectly without even realizing it. That is the future of blockchain for technically incompetent people, they will use it in all walks of life without even being aware of it.

[Agrello]

This comes as no surprise, many banks have started to do this. They obviously see the danger of loosing control of money flow and people going towards BTC. So the only way to get people to keep their cash with them is to support BTC. It really shows their weakness, for many years telling people to not touch it, and now saying ah yeh we support it, just keep it with us, which most people unfortunately will because they think its safer that way.

[paul gatt]

This has been growing more and more. In a recent news got to know about Ireland's biggest bank had made tie up with several other banks to function based on a ethereum based blockchain technology for all its domestic payments. Soon can experience more and more similar acceptance from lot of banks.

I used to think that bitcoins would stop at $ 1800, however, more and more countries were adopting bitcoin, which made it legal, and its value rapidly increased. And I believe it will go up even higher, this can be a good investment opportunity.

[Paashaas]

In the future all banks will offer Bitcoin accounts for there clients.

[iv4n]

In the future all banks will offer Bitcoin accounts for there clients.

I'm not sure in that, in my opinion bitcoin users doesn't needs banks, bitcoin already have all functions that banks offers for fiat currencies. Maybe but only maybe banks can offer something unique to us, but I have no idea what that can be, it will be interesting to see what will they do about bitcoin, because in my opinion bitcoin is a big threat for banking system.

[bitart]

In the future all banks will offer Bitcoin accounts for there clients.

I'm not sure in that, in my opinion bitcoin users doesn't needs banks, bitcoin already have all functions that banks offers for fiat currencies. Maybe but only maybe banks can offer something unique to us, but I have no idea what that can be, it will be interesting to see what will they do about bitcoin, because in my opinion bitcoin is a big threat for banking system.

I'm not sure that bitcoin is a big threat now. In my opinion, bitcoin is an interesting startup now from the banks' point of view, they think that bitcoin can be a real competitor for the banks in the future. Banks are trying to develop a similar but centralized system for their own purposes, they won't use bitcoin directly. Maybe they will let the people buy and sell bitcoin like a commodity or make it easier to buy/sell bitcoin thru bank account, but they won't let bitcoin to get integrated into their systems.

[The_Dark_Knight]

Wow it seems that bitcoin is really being adopted by more country,
Hope that we could see other country to accept bitcoin in the future.

Yeah, we've seen Japan accept it, Australia will from july 1st and I can see South Korea or some scandinavian country following their footsteps aswell. 2017 has been a great year for bitcoin so far.

And the best part is that we are past the middle of May so there is a lot of things that could happen in the rest of the year, and that could really make the price skyrocket even more than it has done in the past weeks and months.