Bank in Norway now supports Bitcoin

[coynedterm]

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 the reality that we have better option than this bank system to buy the bitcoin because we can buy Bitcoin through debit card credit card and direct p2p , without any risk .
So why we will go in this complicated way to buy and sell their Bitcoin with this complicated thing .
But surely this is a good step for the Bitcoin future because if the banks will be connected to the Bitcoin then of course the Government of that country will take the better action to add the Bitcoin and probably it may be possible that they can declare i bitcoin as a legal way of payment and investment .
Here I also things that after the Japan , the Norway will also declared Bitcoin as legal with some rule of  taxation system .

[zend7]

The good news, this makes BTC prices stronger, we wait for other countries to legalize this currency. Wait for BTC prices next year. Maybe with 1 BTC can get 1 Ferrari.

Think we might have to wait a while to get to a stage where 1 bitcoin = 1 Ferrari.
For sure though this Norweigan bank even having anything to do with bitcoin is a positive thing.

1 bitcoin = 1 Ferrari. I love it! Any body with any vision for foresight can see its coming soon too!

It is too early from next year although I think if Russia as declared confirms to accepts bitcoin as payment system in the year 2018 it will be a huge step for bitcoin. I am predicting the price of 1 Bitcoin near the 10000 dollars next year. This Norwegian bank is a leader in being the first bank I think to accept bitcoins , no problem if this feature is only for the investors in this moment, it will be available to the masses after it is tested with investors, that's how a bank operates. I only hope the laws in Norway do not cause conflict with this bank.

[bitbunnny]

I've also heared that some banks are experimenting with Bitcoins or even offering some limited services connected to it it but to my opinion this are isolated cases and it will take long time if it ever happens to become normal thing that banks and traditional financial system to support Bitcoins

[Dimelord]

 Banks have always treated bitcoin as their main rival.But these developments shows that banks could no more avoid bitcoins as its importance is growing more day by day.So in order to survive,they have to adopt friendly approach with bitcoins.Thats the truth.

[deisik]

It is too early from next year although I think if Russia as declared confirms to accepts bitcoin as payment system in the year 2018 it will be a huge step for bitcoin. I am predicting the price of 1 Bitcoin near the 10000 dollars next year. This Norwegian bank is a leader in being the first bank I think to accept bitcoins , no problem if this feature is only for the investors in this moment, it will be available to the masses after it is tested with investors, that's how a bank operates. I only hope the laws in Norway do not cause conflict with this bank

I'm afraid this is nowhere near the case

If you think that Russia is going to accept Bitcoin, you may have to think again. All they said (more specifically, what the Russian Ministry of Finance proposed) comes down to regulating Bitcoin as a sort of "financial product". As to me, this is a far cry from accepting Bitcoin as a payment system. Apart from that, if the Russian government starts keeping a close eye on something, it typically doesn't bode anything good for it. The bottom line is that you shouldn't be overly enthusiastic about these proposals

[Xester]

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

That is a very great news and I think the next step is that people in Norway are going to invest in Bitcoins since even their banks have placed their trust on it. But behind the scenes big people behind the banks are actually buying a large amount of bitcoin so they can have huge profits when the time comes. Just like what happened to Japan, the 3 largest banks in Japan have purchased a huge amount of bitcoin last year and the reason is that they are preparing for the adoption of bitcoin in their country.

[szpalata]

When I saw this thread my heart leapt with joy and I knew gradually we are getting there. Bitcoin is gaining attention and grounds in different parts of the world. Countries are adopting and graciously now banks too so I'm happy over all for the recent successes we are chalking

[Betwrong]

Banks have always treated bitcoin as their main rival.But these developments shows that banks could no more avoid bitcoins as its importance is growing more day by day.So in order to survive,they have to adopt friendly approach with bitcoins.Thats the truth.

Yep, and that's a good thing IMO. I think that bank in Norway is not alone in supporting Bitcoin nowadays. They just have no other choice if they want to be afloat in the future. Fortunately Bitcoin is illegal in a very few countries so mainly banks have no restriction to adopt BTC.

[DoublerHunter]

Such a good news for bitcoin. This is what i wish for bitcoin, a cooperation between bitcoin and also in banks and not replacing or dominating each other because bitcoin and bank is just in one page and that is all about money and that is why it is a good news for bitcoin by accepting bitcoin for an alternative on their bank.

[CraigWrightBTC]

Such a good news for bitcoin. This is what i wish for bitcoin, a cooperation between bitcoin and also in banks and not replacing or dominating each other because bitcoin and bank is just in one page and that is all about money and that is why it is a good news for bitcoin by accepting bitcoin for an alternative on their bank.

Yes it is good news for growing of bitcoin because the bank starts adopt bitcoin and support bitcoin
 the bank that adopt bitcoin will become more growing up too,
they follow the new technology in internet, bitcoin and blockchain is something new
 the Banks will getting new costumers because of adopt bitcoin.

[audaciousbeing]

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

The amount of revenue coming to banks as a result of exchange activities from bitcoin to fiat and vice versa cannot be under estimated and I think thats what the bank in Norway is trying to exploit taking into consideration the dicey nature of the law around there and that is why they are not selling directly so they refer you just like they would refer any of their customer to any entrepreneur who has agreed to work with the bank without them being responsible but hopefully things will get sorted and there wont be for any unnecessary intermediaries.

[zarintasnim]

This is good news for us who interested in bitcoin. I think another bank should follow them.In this way bank and bitcoin relationships so  much strong. People going to  bank know about bitcoin.Bank are generally work in money and bitcoin is money. So no problem of bitcoin work with bank.

[Juggy777]

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

That's a bold statement from the Norway bank, and this will lead support for more banks to adopt this kind of technology. But this bank has no branches and does transactions online does that raise any issue, or the fact coinbase.com will holds coins is valid. Though this is a welcome move, another thing that is worth thinking if the tax authorities of Norway demand details will the bank be forced to give? As we know Coinbase.com does not give details this is one issue which needs to be considered. Right now it's in beta phase, and it will be interesting to see how other banks react to this and will other banks follow suit.

[~Bitcoin~]

Its sound good to know that more an more banks are supported by coinbase to purchase bitcoin. But the level of KYC policy coinbase have may cause problem for users later on and Norwegian government may impose tax on every purchase made through coinbase.

[stompix]

When I saw this thread my heart leapt with joy and I knew gradually we are getting there. Bitcoin is gaining attention and grounds in different parts of the world. Countries are adopting and graciously now banks too so I'm happy over all for the recent successes we are chalking

You should have also read the thread before:).
I's not a bank doing bitcoin operation.

They are just doing a partnership with coinbase.
The bank will still deal in fiat.

It's similar to the bitpay way of accepting bitcoin payments.

[BrewMaster]

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.

they are not really supporting bitcoin, they are supporting the idea of people using their bank to transfer money in and out of some service (it may very well be anything instead of coinbase) and the bank taking a lot of fees on the transactions they make!

[iluvpie60]

The more banks adopt it the more regular people will. This creates more demand. More demand will increase prices. I just hope banks dont go crazy and try to mine and ruin btc, that is my fear.

[giletto]

Good to hear that news. Hope that more banks will join our force and help Bitcoin to become the greatest currency on the planet. I am so excited to see bitcoin replace dollar in the future

[Victorycoin]

The really novelty, I do not know if we will see it soon, would be that a bank gave the option to make an deposit into your account in bitcoin and change it directly to local currency or do the process in reverse, I don´t know if we will see this over time.

I am sure we are not going to see anything of such unless strict regulation first takes the center stage otherwise that would be like  preparing a feast for the criminally minded ones among us. The question begging for answer however is, whether a bank is indispensable for the survival of Bitcoin? My answer is a big NO!

[densuj]

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

I think the bank is not support for bitcoin because we will be redirected to coinbase in order buy bitcoin
we know about coinbase to buy and sell bitcoin, should the bank doesn't just redirect to coinbase
but they gives the service to buy and sell bitcoin on their bank, it is mean they are really support bitcoin
because on their bank there is fetures for comunity of bitcoin to buy and sell bitcoin and make easy to getting bitcoin.