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Author Topic: Banking with your bitcoin  (Read 1106 times)
Shiver
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September 09, 2017, 06:05:48 PM
 #41

Banking and bitcoin are pretty much not synonymous. Never does banking come to one's mind when you think about Bitcoin. Its just not happening because of the decentralized nature of Bitcoin. It does not allow banking staff to control it, and it won't let banks profit off of it, the banks won't be able to use it to get any business going. I think that pretty much covers it.
It isn't happening.

Understand and agree with your point, but ... most people aren't as capable as you in knowing how to buy/secure/use Bitcoin.  The 'late majority' and 'laggards' will want to 'carry on as you were'.

We don't need the banks as much as banks need us (on a street level pov, not the heavy finance - although the number of street level branches is quite telling wrt who they are harvesting from).  They surely don't want to be a Kodak or Blockbuster, which leaves me somewhat confused as to how they will avoid shooting themselves in the foot with their superiority complex.
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September 10, 2017, 12:33:38 PM
 #42

I do not think that's possible. because banks from now have strongly rejected the presence of bitcoin. banks will not want to risk the presence of bitcoin it is very unlikely banks will cooperate on bitcoin but do not know the future of banks that will lose or bitcoin to be lost
Well bitcoin is strong enough to be carry alone it will never decrease the value and the importance of the bitcoin price. Bitcoin has a lot of wallets to keep your bitcoin in and it will be good enough if they introduce some banks for bitcoin and soon it will be possible we all knows that bitcoin is being accepted by a lot of banks and they are thinking about to make its own bank so that it will be more easy and convenient to use.
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September 10, 2017, 11:38:49 PM
 #43

It should be but they will not.
They want their own bitcoin even if it is not possible.
This is a lot of money we are talking about and they dont want compensation with every bitcoin that will be deposited.
Remember, when you have lots of money in a bank you can insure it for protection.
What if I insure a lot of bitcoins to them then suddenly it fell in value. That is why they want to create their own.
Good to hear that banking is possible with bitcoin but I have to wait for sometime till the government accepts that it is as a valuable currency and people love it to have it. Because of its security and exponential growth. A lot of people have invested a great amount in bitcoins it will be a great news for them that banking is possible with this currency.

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September 11, 2017, 02:43:10 AM
 #44

I think bank co-operation and bitcoin will be just as mutually beneficial as they can be mutually reinforcing. I'm glad if the bank is willing to accept bitcoin so we can directly pull without need exchanger.

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maldini
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September 11, 2017, 03:03:51 AM
 #45

banks are becoming interested in bitcoin. because the money generated by bitcoin that goes in and out through the bank is very large ....

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Darker45
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September 11, 2017, 03:14:47 AM
 #46

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

It is very possible but I know not one bank that accepts bitcoin as direct deposit from your bitcoin wallet to your savings account. Because there is no one bank that has bitcoin as an option of their account. It might happen in the future if bitcoin will be as widespread as fiat.

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September 12, 2017, 05:32:36 PM
 #47

Actually the Bitcoin wiki says bitcoin is compatible and will be used for and by modern banks.
Like it or not, it actually makes sense to use modern banks with bitcoin for the same reasons we use them with fiat. Lending is a huge and important part of the economy, and some users really don't want to worry about security. You can "be your own bank" with USD Cash but most let banks worry about keeping their money safe. This will almost assuredly continue.
Modern banks ain’t really banks, they’re just like Bitcoin exchanger platforms that goes in the name of “modern banks”. Real banks are the ones controlled by a country’s central bank, so anything else apart from that is not a real bank.

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Linuld
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September 12, 2017, 05:41:43 PM
 #48

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

It is very possible but I know not one bank that accepts bitcoin as direct deposit from your bitcoin wallet to your savings account. Because there is no one bank that has bitcoin as an option of their account. It might happen in the future if bitcoin will be as widespread as fiat.

Future means next generation or next to next generation. First thing is banks will oppose this Bitcoin, and they will never support to this Bitcoin. If it becomes legal, then they will lose their business, and it's a big loss for banks. So takes some years to become legal and to convince banks again it will take a number of years totally how many years it will take no idea.
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September 12, 2017, 05:44:42 PM
 #49

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?
I think the bank will never accept Bitcoin because it loses their interests and the reason is that they can not control Bitcoin because it is fully confidential and does not disclose information of the account holder


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September 12, 2017, 05:55:42 PM
 #50

The fact that banks accept bitcoin is the same as they realize it helps them avoid inflation on their local cash flow. And there are some countries where they still do not really recognize bitcoin as a future currency because it can make people in their country no longer believe in cash there.

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September 12, 2017, 10:12:36 PM
 #51

I don't foresee banks accepting bitcoins directly. It is against everything that they hold dear. There will always be a third party between banks and cryptocurrencies, especially bitcoin
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September 12, 2017, 10:15:20 PM
 #52

With the government running a specific bank right now i think that would be imposible.Its a decentralized currency and banking makes it centralized plus most users of bitcoins would not totally agree in this kind of system

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ilvstranger
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September 12, 2017, 11:16:20 PM
 #53

As you put this question, why would you want to keep bitcoin in a bank?
Its purpose was to do exactly the opposite, to be your own bank.

There are some tokens that say will help to make faster transactions and all other stuff, but regarding banks holding your money it is giving them back their power. They can block them, make them lost or whatever they want again and again. Like the "big" exchanges do now.

Yes, you are referring to banks for that, knowing that they are safer than these exchanges. And here comes the old story. You give them control for your assets because they have government trust and insurance in a limited amount. But again, then you are not holding your money anymore.

I see some problems for holding bitcoins or some of good altcoins in wallets because many people don't know how to use a computer, not saying to make a wallet. Tell them to make cold storage wallet and see their reactions  Roll Eyes.

Yes, here it should be a way with some certified "banks" or exchanges to have them for that kind of people or just for old people... here it will be an issue when it will go to a mass scale.

So, the big problem here is regulatory rules that will come in the near future to say that they accept it or not as legal in that country. Then, normally it should lead to have a safer way to exchange them with some trust for the big exchanges or places where it will be for buy/sell for fiat.

And also, to who said about banks, they can't disappear, at least not over night. The current system can't be changed overnight, the same as electric cars can't be made overnight as main cars because the infrastructure. Elon Musk did a lot to open the road for free electricity in "gas" stations and from what i see things are changing in a good way. Lot of countries announced that electric cars will be in big percentage in a few years. But we know them exist for last 15-20 years.

Let's hope here the trend will be quicker 5-10 years with all of the new technology that is coming.

Till then, hodl them good in offline wallet.

new hodler!
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September 12, 2017, 11:46:34 PM
 #54

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?
No, it's impossible they the bank only interested in the technology behind Bitcoin, the blockchain. The reason why do banks hates Bitcoin is because of Bitcoin's nature decentralized, What's the exact reason they should adopt Bitcoin? nothing. Instead of adopting it they might adopt blockchain in order to transform their traditional system into a modern one. Basically, it against the purpose of the Bitcoin since if you're holding your Bitcoin you have your own bank and you don't have to trust someone to hold your money, you have ultimate control over your money.

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September 13, 2017, 12:01:48 AM
 #55

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?


Here we can withdraw bitcoins into your bank acc. But it goes through a company and they put it on your acc. It means they are 3rd party only. I do not know if it's bad and it affects my transaction. And I'm looking at what you can and you will not have any issues here so I think it can happen in other countries

yeah its already third party. because the company put already our cirrency to our bank not totally the bitclin ita already exchange with our money before they put it in our bank when we cash out through our bank accounts.

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September 13, 2017, 01:44:14 AM
 #56

For now I doubt if banks will accept bitcoin as a direct deposit, one reason is that they will forbid it for internet security reasons, and most importantly they will refuse bitcoin because bitcoin is not yet valid to be a currency that can be used as a transaction tool legitimate

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September 15, 2017, 02:33:54 AM
 #57

Until now in my country bitcoin has not allowed to be a legitimate currency for transsaksi, so I think nowadays banking in my country certainly will not accept bitcoin directly, especially with their fear of internet security

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September 15, 2017, 02:52:38 AM
 #58

if in my opinion the bank definitely forbids storage of bitcoin, because why? because I know the bank at
Indonesia House receives something that they think can be accounted for
answer like the original currency and gold or the rest. but for bitcoin i think
 the bank will mock because that was the reason.
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September 15, 2017, 03:02:18 AM
 #59

I think the reason why online wallets are made because it is design to replace banks in the future and if your concern is acceptability of banks with bitcoin that I think would not be possible because bitcoin value is not stable and it cannot have a fix value in the future

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September 15, 2017, 03:07:17 AM
 #60

Major banks are building there own 'bitcoin' to transfer money without being hackable. They seem to like the blockchain.
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