Banks and Bitcoins: Is it possible in th future?

[emezh10]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

The connectivity between bitcoin and banks is really visible and possible if we are going to observe the scenario in our  present time wherein we convert bitcoin into our own currency and withdraw it in a bank. So it is really possible that bitcoin can be operated in banks in the future.

[gueorguiev]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

The connectivity between bitcoin and banks is really visible and possible if we are going to observe the scenario in our  present time wherein we convert bitcoin into our own currency and withdraw it in a bank. So it is really possible that bitcoin can be operated in banks in the future.

frankly, even though it is possible, I don't think any developers would willingly make anything to connect the current banking system and Bitcoin. Any new code that's written, or app developed is done with the future in mind, and the future of Bitcoin does not include banks. Having banks hold onto your coins so that you could withdraw to fiat is a short sighted solution that goes against the fundamentals of Bitcoin/Altcoins alike and will end up causing a multitude of issues compared to the single problem it fixes, which in fact can simply be fixed by business adoption of Bitcoin which removes the need to exchange your currency.

[Andre_Goldman]

is this post about taxes payers funding banks failure ?

on brink of second bailout for banksÿ

https://en.bitcoin.it/wiki/Genesis_block

[bitcoinbox]

I hope Bitcoin will always try to stay independant from banks.
Correct me if i'm wrong but Bitcoin was created originally to be an alternative of currencies and banks.

[rjbtc2017]

Bitcoin is not government dependent while banks are government dependent
In my opinion, this will not happen in the future or anytime soon, for bitcoin can still work without banks
and bank has their own regulations and policies. Therefore, i think  this is not possible.

[CraigWrightBTC]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

Of course what's are you talking about is good for bitcoin's users and bitcoins itself because the Banks adopt bitcoins on their banking system, the account of bitcoins on the Banks are like the account on exchangers with interest monthly, that is good proggress for bitcoin's growth and i think it will happen in the future at least the Banks must adopt technology of blockchain in their banking system.

[szpalata]

I hope Bitcoin will always try to stay independant from banks.
Correct me if i'm wrong but Bitcoin was created originally to be an alternative of currencies and banks.

Yes but they've dan coexist for a stronger financial sector, we don't need to replace banks and fiats with Bitcoin but we can have the two to independently exist and complement each other's weakness.

[mrcash02]

I have no problems with a BTC bank. You can consider some online sites like BTC banks. These sites store your money for you, some pay interest over your money for you... They have all the advantages banks have, but don't have the disadvantages, like high fees, control over your actions and transactions, withdraw limits. The only negative point is that here we don't have guarantees over our money.

But I think very hard to see a BTC bank working. To have something like this working it's necessary to have a localization (a country), so there will be regulations to be followed and for this reason half of the advantages are gone...

[chixka000]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

Even if it is possible i dont want it to happen. Instead i want a much safer way of storing your bitcoin plus a stable price. Just imagine the convenience of having your amount thro your phone or dekstop rather than having it in bank

[evilgreed]

I hope Bitcoin will always try to stay independant from banks.
Correct me if i'm wrong but Bitcoin was created originally to be an alternative of currencies and banks.

Yes but they've dan coexist for a stronger financial sector, we don't need to replace banks and fiats with Bitcoin but we can have the two to independently exist and complement each other's weakness.

        This is why the possibility in the future about partnership is very high, like what you have said bitcoin is created as an alternative way and a digital versionof currency which is way too transparent that is also healthy for all the users. Both can never be replaced but both can be colaborated as partners, we might predict that they could be partners in the future but it depends upon how the situation runs.

[senin]

The very essence of Bitcoin is to put control of your money into your hands, you are your own bank. To suggest Bitcoin and banks is to throw that all away, they would have control of your coins, and they could track all your purchases which kills the anonymity of Bitcoin.

I fully admit that part of the services for the running of bitcoin can take over the banks. This concerns, for example, intermediary services for the purchase and sale of digital currency. But depositing Bitcoin will really mean a loss of decentralization, as the banks will be admitted to control. However, those who are afraid of losing their anonymity will always have a choice to appeal to banks or not. While such an opportunity will exist, one should not be afraid of losing decentralization.

[bubblebit]

Thanks BTCitcoiners for everyone’s Opinion.

Just to clarify there is no Wrong and Right when we are dealing with opinionated discussions.
It is either we agree or disagree every statements must be treated as equal and with respect.

I have slight mistake of taking this out without a poll for a comparisons but I have a good read reading all replies that makes sense.

Good or Bad. I hope one thing remain the opportunity for us to earn in the future is still open.
 

[DewiKirana]

That is not impossible, but it seems less suitable if bitcoin is managed by the Bank. Bitcoin was created along with a good ideology, I chose the bitcoin because of the security of privacy. Whereas in the data bank ourselves may be sold to the needy, I do not like it.

[albert11]

Of course it is good if it happens. Because we can simplify our accumulation of money. And of course we can simplify the transfer of our money to banks because they are already supported. So it's definitely a world that really changes bitcoins. And maybe this is the official currency of the world someday

[kpcian]

that might be possible because Bitcoin is becoming a one of the most strongest currency in the virtual world, day by day Bitcoin is also getting accepted by many online platform as a legal currency. a couple of countries have already declared as legal currency so that Bitcoin will be marge if bank considers it as a threaten for their business.

[Rishabh riyz]

Their is a small relation now between bank and bitcoins , people after earning enough BTC convert them into fiat by transferring the amount in banks , so banks are actually having profit.
Anyone can make a bank account , people don't need to be educated to hold a bank account though everyone holding accounts need to pla according to the rules and regulations of the bank. Banks can check in our accounts anytime , they are safe but kind of give less privacy.
The whole idea of Bitcoins was to mgive financial freedom to the users , but unlike banks account holders Bitcoin users need to have basic knowledge to operate a smart phone and the wallet.
Maybe in future the banks would understand that privacy is important and would provide max security with minimum peeks.
Banks could also help people hold their BTC safe from potential hackers.

[franco123]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

For me it will be good since it will open another option on how to store Bitcoins in a more secured manner. However, I think what the disadvanatage might be is the fees. But still it would just be optional then.

But today, I think banks are already being utilized for Bitcoins, or at least in the case of our country. This is because our Bitcoin address has the option to cash out in your  savings account in banks. This, even though it is indirectly done, is already considered as Banks and Bitcoins relationship.

[cpfreeplz]

Obviously at some point some bank somewhere will hold your bitcoins for you. Should anyone use that bank? NO! Bitcoins don't need to be held in a bank.

If you want to trust someone with your private keys just PM them to me. I have no issue holding your bitcoins for you.

[HabBear]

Bitcoin show signs of popularity to every people in the world, profitability of it makes me imagine that one day we can deposit and withdraw bitcoins in Banks.
If it happens, my question maybe, is it good or bad? for us bitcoiners, or for bitcoin itself.

In my opinion: what yours?

This already exists! Coinbase, Kraken, Xapo, etc, are all banks whete you can store crypto and exchange it fir fiat when needed. Most of these banks offer debit cards now so you can spend your bitcoin wherever debit cards or visa/mastercard are accepted.

There's room for otherbanks to get involved but we shouldnt be acting like these services fon't already exist.

To the OP, how much do you pay your fiat bank in fees each year? Do they charge you for a checking account? Do they require a minimum balance for a savings account?

I'd rather be my own bank!

[13abyknight]

The whole point of Bitcoin was to create a completely decentralized system for overall usage whereas banks and governing agencies oppose the whole idea of decentralization as they want everything under their control. Being digitized in nature, why would someone want to deposit Bitcoins in a bank while there are so many exchanges or services to buy from? Bitcoin ATMs for withdrawal on the other hand are really good signs of growth and have only been available in only select countries.