Germany's fourth largest bank "Commerzbank" Granted Bitcoin Custody Licence.

[Richbased]

It's not as if I don't welcome the adoption of bitcoin custody Licence in this German bank but isn't the motive of which bitcoin was created for gonna be altered like instead of being decentralized, by this adoption of the custody Licence  now the government will be the one to regulate the activities of bitcoin transactions thereby projecting it to still be centralized under their control,  banking involves a third party of which bitcoin is a decentralized medium of performing transaction directly with the person you want to transact with. So I wonder how this adoption of the custody licence by the bank will be helpful to bitcoiners.

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[Fiatless]

It's not as if I don't welcome the adoption of bitcoin custody Licence in this German bank but isn't the motive of which bitcoin was created for gonna be altered like instead of being decentralized, by this adoption of the custody Licence  now the government will be the one to regulate the activities of bitcoin transactions thereby projecting it to still be centralized under their control,  banking involves a third party of which bitcoin is a decentralized medium of performing transaction directly with the person you want to transact with. So I wonder how this adoption of the custody licence by the bank will be helpful to bitcoiners.

Institutional investment or involvement in Bitcoin leads to centralization but it is also a tool of bitcoin awareness and adoption. Some uninformed people are comfortable keeping money with banks and other financial institutions. They prefer to keep funds with middlemen who will serve as custodians of the funds because they don't want to take the responsibility of keeping their keys. Bitcoin adoption will also lead to Bitcoin education, so with time people will begin to know that keeping funds in these centralised platforms is not safe. But I hope they won't learn these lessons the hard way such as the experience of FTX and others.   

[yhiaali3]

One day soon, cryptocurrency, especially Bitcoin, will be the most popular investment around the world. I expect that everyone will begin to realize the importance of investing in Bitcoin.

But to me, the idea of banks accepting Bitcoin does not seem like a good idea because it will eliminate privacy. When you deal with a bank, you are forced to provide all documents and personal papers that contain information about you, and they will be linked to your Bitcoin address, and this will completely eliminate privacy.

I do not rule out that governments will encourage this step to obtain all the information they want.

[Lucius]

By doing this the German central bank has essentially legitimised Bitcoin. It means
that those people who either have been oblivious or skeptical towards Bitcoin have been
convinced that actually Bitcoin is legit.
~snip~

But isn't Bitcoin already legit in Germany and most other countries of the European Union, given that it can be traded, paid for and there is a clear regulation regarding taxes? It sounds a bit paradoxical that someone should think that Bitcoin is legal just because some central bank thinks so, especially if we know that they are only interested in how to make a profit, even if it meant that they would try to sell holy water to the devil himself.

Although from the point of view of an ordinary person, everything that is approved in some way by the authorities (banks) for the majority means that it is good and legal. Time will tell how positive (or negative) the banks will be for Bitcoin in the end, but I personally do not have a positive opinion that it is a winning combination in the long term.