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Xester (OP)
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May 28, 2017, 04:07:43 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say?
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noictib
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May 28, 2017, 04:32:44 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say? In my opinion this is totally bad news for me , because I am also a Bitcoin trader and making deals in the Bitcoin to buy and sell daily for the fiat ( USD and local money ) . But if the Bitcoin bank will start then surely most of the persons will use Bitcoin bank and that will be results into the lake of the customers for me and finally this will steal my job of Bitcoin trading . So I don't like it , but idea of Bitcoin bank is good  . Here also another traders in the Bitcoin field , will also leave Thier job of trading . |
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timerland
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May 28, 2017, 04:35:14 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say? It's partly good news for me because it's about time someone in the banking industry actually realises that bitcoin is going to be the future and start to capitalise the idea of bitcoin. We're getting very positive media coverage here, essentially free as always. But still, bitcoin does not need a bitcoin bank to survive the same way fiats need a central bank and commercial banks that branches under the central bank to survive. It's not all good news when people start depositing their bitcoins into a central entity, when they can store their bitcoins in their own private keys more securely and efficiently. Think about all the hacks involving btc, and all the scams. |
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smartbitcoininvestor
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May 28, 2017, 04:36:50 AM |
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The fundamentals of what a bank means will be different because they won't be able to create credit in the traditional sense.
The Bitcoin bank will truly have to back all of their assets with other cryptos or Fiat in order for savings account holders to make a return, and there will not be a government to bail out anyone. If they go out of business, good let getting your BTC back.
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iqlimasyadiqa
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May 28, 2017, 05:02:31 AM |
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The fundamentals of what a bank means will be different because they won't be able to create credit in the traditional sense.
The Bitcoin bank will truly have to back all of their assets with other cryptos or Fiat in order for savings account holders to make a return, and there will not be a government to bail out anyone. If they go out of business, good let getting your BTC back.
It's hard to imagine right now. But when we get started then it will feel more. BANK bitcoin could have a different way of working and systems with conventional BANK today. Now it must have started to emerge an institution that dared to take on this role, they should start implementing BANK bitcoin design in real life. |
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UCHCHILD
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May 28, 2017, 05:09:03 AM
Last edit: May 29, 2017, 01:45:50 PM by UCHCHILD |
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Is this real?
I am not an active trader but for.sure this will affect those who really trades bitcoin to dollar to local money, they have now big competetor.
For sure those who buy coins will try their services and those traders will lose their “job” and lessen their income because of this.
And for sure the feature of bitcoin will be broken for this, like the anonymity of each user of bitcoin bank because you have to sign message, put your name every transaction done or made, put sender's name and also signature, which totally broke the big asset and uniqueness of bitcoin. That is the sad part of having bank for bitcoin.
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coolsai
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May 28, 2017, 05:16:01 AM |
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I've never heard of this bank before and I don't know if its real or serious but either way I'm not surprised. Its only a matter of time before banks take bitcoin seriously and start offering better and better terms to deposit btc with them, they may even start offering interest rates on bitcoin deposits but for now I think it will just be a matter of allowing u to withdraw to fiat effectively letting them act as an exchange.
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phunnykidd1
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May 28, 2017, 05:24:17 AM |
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a bitcoin bank seems like an oxymoron to me. those two dont belong together at all.
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Juggy777
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May 28, 2017, 05:30:59 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say? I think some other bank also started something like this, read it here now done remember what thread it was. Pros of this we have a more secure authority dealing with Bitcoins. It's easily accessible in different areas. And we are safe to transact. Cons of it you will have to give up your identity, how do we know bank details can't be hacked, or they won't give it to authorities who will come down on your for not declaring your income. Plus what if some bad organisation hacks your account makes some transactions boom you are as good as dead. So no for me I won't ever link it with my bank account and would advise people not to. |
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Amph
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May 28, 2017, 05:32:15 AM |
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a bitcoin bank seems like an oxymoron to me. those two dont belong together at all.
i can't see why not, if a bank can offer insurance and good interests on deposit like they do on fiat, it will be only good for the average joe that don't want to hold their bitcoin in their computer and risking a ransomware or other shit i believe bitcoin are good to increase adoption in the future, or accelerate the already one that is established |
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muraqaba
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May 28, 2017, 05:33:07 AM |
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coinbase/gdx is basically a bitcoin bank
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Gleb Gamow
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May 28, 2017, 05:35:46 AM
Last edit: May 28, 2017, 05:50:59 AM by Gleb Gamow |
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http://theheureka.com/wb21-founder-has-history-of-fraudI lost count. How many to-date posters on this thread, along with the OP and the media source, didn't do ONE GODDAMN BIT OF INVESTIGATION related to this story? I'll wait, you fuckin morons! 
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Yuhee
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May 28, 2017, 05:50:41 AM |
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a bitcoin bank seems like an oxymoron to me. those two dont belong together at all.
i can't see why not, if a bank can offer insurance and good interests on deposit like they do on fiat, it will be only good for the average joe that don't want to hold their bitcoin in their computer and risking a ransomware or other shit i believe bitcoin are good to increase adoption in the future, or accelerate the already one that is established I think its ok as long they really can make any insightful interests or put any tax in it. With my current income in btc i can be satisfied with just e cash but maybe in the near future if i want to incash higher amounts then i bank can be really useful. But i think in my locality, people really are not interested in btc that even if there are proposal in banks to adapt btc, they wont entertain it because of the lacking in btc users. |
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Gleb Gamow
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May 28, 2017, 06:02:22 AM |
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Hey, astute morons, guess what I just did prior to this thread making it to the second page -> https://bitcointalk.org/index.php?topic=1937209.0Meanwhile, posters are still jacking off all over themselves because they think this is greatest thing since BFL announced its ASIC line of bitcoin miners.  BTW, the article cited in the OP is dated Jun 16, 2016, almost a year ago. |
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xIIImaL
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May 28, 2017, 06:15:13 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say? I have commented many times about bitcoin in my posts, It really bad for bitcoin;'s future. For short term price may take to moon. Banks accepts bitcoin means they will reserve right to control the transaction and control it. Fees and charges would same like bank in future. Example, now we are able to send the bitcoin to any part of the world with the same mining fees but in future it will depends upon the location. Due to this Paypal, moneygram, International exchanges will retain their business easily in the market. Hoping everything should go good in future. |
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davis196
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May 28, 2017, 06:25:04 AM |
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https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank. This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong. Is this a good news or bad news, whats your say? I wouldn`t say that this is a bitcoin bank. It`s a normal bank that accepted bitcoin for transfers,because btc got more popular. They just follow the trends. |
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fan_of_things_and_stuff
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May 28, 2017, 06:58:42 AM |
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Doesn't this kinda go against the whole point of decentralization?
I'm all for expansion of cryptocurrencies, but the idea is to spread the love!
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Xester (OP)
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May 28, 2017, 07:11:33 AM |
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The fundamentals of what a bank means will be different because they won't be able to create credit in the traditional sense.
The Bitcoin bank will truly have to back all of their assets with other cryptos or Fiat in order for savings account holders to make a return, and there will not be a government to bail out anyone. If they go out of business, good let getting your BTC back.
Of course a digital bank in its level has a few difference on the traditional banks but in essence it is still a bank and will function as a bank. When we talk about credit we are not yet certain if they release some credits but in time when the local version of that banks will be established they will be allowing creditors in the local area. We do not know what is their scope but they are trying to extend their services globally and that is why they decided to adopt bitcoins. |
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bitbunnny
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WOLF.BET - Provably Fair Crypto Casino
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May 28, 2017, 07:24:40 AM |
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This still isn't the true Bitcoin bank, they have some traditional financial business and they just added Bitcoin as an option. The question is would people embrace the Bitcoin banks with all their features, once they appear, having in mind all bad experiences they have with traditional banks and would that mean that Bitcoin has become centralized.
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crazyivan
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DMD Diamond Making Money 4+ years! Join us!
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May 28, 2017, 07:27:04 AM |
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If we talk about legal way to transfer BTC into cash in large quantities , that s going to be a problem since AML laws are more less the same in any developed country. If we talk about securely saving your BTC, that s OK, but there re already so many different options.
All in all, what is that bank going to do?
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