Will banks One day accept Bitcoin deposit?

[Sanitough]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

With bitcoin, we can be with our own bank, so no need to deposit bitcoin to these centralized banks, however it can be done with the profits we can get from our bitcoin investment.

Now, regarding using bitcoin as a medium of exchange, that is our ultimate goal for bitcoin, most specifically for Satoshi. That only depends on our country’s government, if they are friendly with bitcoin and chose to be open-minded rather than being selfish, in the end we will be using bitcoin as a mode of transaction payment. Only the kind of government is the key towards global adoption for bitcoin.

[peter0425]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

You want the bank to hold your bitcoin? Just use a centralized exchange then. What’s the difference between that and a bank holding your own bitcoin? The point of bitcoin was so that there was no need for any third parties to be involved in any of your transactions so I while it probably means a lot to bitcoin when banks start accepting it, frankly I don’t care.

[Botnake]

Bitcoin is not stable, and it is digital, and banks don't have control over it. Once the price of Bitcoin drops so much, it will affect banks. Banks wouldn't risk their reputation by holding people's BTC. Maybe they are going to accept money from buyers who deal with someone selling and buying BTC, but I believe they don't want to be involve with this deal because crypto is risky and not stable. Maybe for USDT or any stable coin they might accept, but not for Bitcoin.

However, maybe depends on the jurisdiction since someone above said there are some banks, but here in my country, they don't accept Bitcoin since it is not widely used yet here.

Once the government allows banks to accept bitcoin deposits, that’s good to say that bitcoin is slowly getting centralized because once bitcoin is already within the  hands of the banks, then we can say that the full control of the owner is no longer there, and that creates bigger advantage for banks while its kinda a loss for us owners.

However, if this will be adapted in the future, I don’t think that we can benefit from this, but will only put our bitcoin at risk, as there could be future stealing just like what’s happening inside the centralized exchanges. I just hope we can realize the real purpose of bitcoin, and that is financial freedom from the government and the banks.

[JiiBs]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

I read somewhere, a proposal on the possibility of banks accepting Bitcoin to be an advantageous thing towards Bitcoin security. How?

It follows the theory of how easy it is to rob a single individual, a house hold than a bank. While this might be correct, Bitcoin doesn’t operate under this protocol. In fact, it’s more easier to rob exchanges and its users account by brute forcing it than hacking a wallet.

There wouldn’t be much need for you to save Bitcoin investors a bank, your keys maybe but, not having to deposit your Bitcoin with the bank. Bitcoin can’t function in the same way as fiat, you are supposed to be your own bank.

[Danica22]

Once the government allows banks to accept bitcoin deposits, that’s good to say that bitcoin is slowly getting centralized because once bitcoin is already within the  hands of the banks, then we can say that the full control of the owner is no longer there, and that creates bigger advantage for banks while its kinda a loss for us owners.

However, if this will be adapted in the future, I don’t think that we can benefit from this, but will only put our bitcoin at risk, as there could be future stealing just like what’s happening inside the centralized exchanges. I just hope we can realize the real purpose of bitcoin, and that is financial freedom from the government and the banks.

What about financial institutions, ETFs like Blackrock, FBTC, ARKB or public companies that represent their investors holding 3% of the bitcoin supply like MSTR? They are also centralized financial institutions. That also makes bitcoin more centralized and puts investors' bitcoins at risk. Why is no one talking and worrying about this? We even support and hope they invest more in bitcoin, but now we fear banks accepting bitcoin deposits and think that will make BTC more centralized?

Admit it, most of us are just interested in profits, not many people care about the decentralization, privacy of bitcoin as we keep preaching.

[GigaBit]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

I think banks will definitely change their perspective. Because at one time, big investors made negative comments about Bitcoin, but gradually those investors are trusting Bitcoin. Governments of different countries are gradually accept Bitcoin. Moreover, some countries are already making Bitcoin a reserve currency. When governments are trusting Bitcoin, banks will definitely be forced to adopt Bitcoin at some point. Moreover, if banks cannot provide adequate services to their customers, they will lose customers. Just as Bitcoin adoption did not happen all at once, the same can happen in the case of banks. When one bank first starts accepting Bitcoin, other banks will also gradually come and it can be said for sure that banks will definitely adopt Bitcoin in the future.

[nemesis_incarnate]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

I read somewhere, a proposal on the possibility of banks accepting Bitcoin to be an advantageous thing towards Bitcoin security. How?

It follows the theory of how easy it is to rob a single individual, a house hold than a bank. While this might be correct, Bitcoin doesn’t operate under this protocol. In fact, it’s more easier to rob exchanges and its users account by brute forcing it than hacking a wallet.

There wouldn’t be much need for you to save Bitcoin investors a bank, your keys maybe but, not having to deposit your Bitcoin with the bank. Bitcoin can’t function in the same way as fiat, you are supposed to be your own bank.

Bank is the same house, just with bigger bags lying around.

So, I agree - it's a wrong view on the matter, which favors the banks just  because.

[bhadz]

Admit it, most of us are just interested in profits, not many people care about the decentralization, privacy of bitcoin as we keep preaching.

Before, it was for the tech, and to be honest, it was a golden era when people mostly invested in Bitcoin because of its decentralization, and truly in it for the tech. But today, can't deny that most are just interested in the profits, and it's not going to change. Time has changed but those people that are truly concerned about bitcoin's decentralization was still there. Fighting in the shadows and doing it silently. And maybe the others don't care anymore when it's only about the value of it which everyone is looking up to.

[dzungmobile]

Before, it was for the tech, and to be honest, it was a golden era when people mostly invested in Bitcoin because of its decentralization, and truly in it for the tech. But today, can't deny that most are just interested in the profits, and it's not going to change. Time has changed but those people that are truly concerned about bitcoin's decentralization was still there. Fighting in the shadows and doing it silently. And maybe the others don't care anymore when it's only about the value of it which everyone is looking up to.

People can try Bitcoin blockchain with curiosity about its technology but with investment reason, I believe that many Bitcoin investors don't mind about its technology. There are people who look at fundamentals that include many things, not only technology, before investing their money but not all investors do like this.

Some investors simply invest because they see Bitcoin grows up in price too exponentially and want to join the party, that's it. Perhaps later they will see something great in technology but it is not first reason attracts them to Bitcoin. Intelligent investors surely care about technology as it relates to security and safety of their bitcoin portfolios together with other fundamental factors.

[virasisog]

It would be great if they could accept it, it would help us to easily convert or withdraw our crypto.
It could lessen the transaction fee, and would save us time.
But it would also completely ignore most of Bitcoin features or the main point of cryptocurrency.

[macson]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

It all depends on government regulations, as banks adhere to the regulations of the governments in which they operate. If the government allows them to accept Bitcoin deposits and withdrawals directly from their customers, then it's perfectly legal for banks to accept Bitcoin transactions directly from their customers.

So it's entirely possible for banks to become a medium of exchange for Bitcoin assets.

As for when that will happen, it all depends on the government, because most countries do not allow banks to fully engage with cryptocurrency because they consider cryptocurrency to be a speculative asset.

But we understand that banking is a business, and when a government allows banks to get involved in cryptocurrency, they will certainly maximize the opportunity to accept bitcoin or altcoins from their customers because it has the potential to provide them with a new source of revenue.

[irhact]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

I think that's the idea of most investors and everyone is looking forward to that day that this is going to come into reality. Do I think it'll happen, yes I do think it'll be happen but not as soon as we want it to happen. First we'll need the approval from the government to consider Bitcoin as a currency that can be used for our everyday purchases. After that happens then we'll begin to see banks integrating things that'll help make the accepting of Bitcoin easier in the society and allowing their customers to buy and sell Bitcoin directly with the banks is one of the things they'll introduce.

[Mrbluntzy]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

How is that going to function? Would it be that banks will accept Bitcoin from customers, convert it ti fait using their own rate and then deposit fiat to customers account or how? Why would someone even want to go and deposit their Bitcoin in the bank when they can bear the security of their coins by themselves? Any time these ideas of Bitcoin and banks comes up, I always ask my self so rhetorical questions and it is even pointless to think that there should be a Bitcoin bank meanwhile the Bitcoin itself was developed to avoid third parties from interfering into your transaction.

[pancelot]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Why would you want to send your Bitcoin to a bank when Bitcoin was literally created to work without banks and third parties? 
Even if they start accepting Bitcoin they would not allow you to withdraw whenever you want, they would charge additional fees, they would force you to use their ''approved'' wallet, and other crap like that.

I agree with @dkbit98 because if bitcoin is put into a bank, the essence of the coin's freedom will be lost, what happens is a kind of digital version of an account but using conventional rules (bank), so far we have full access to the private key and we have full sovereignty over what assets we have, but if it has been handed over or saved to a bank, it means that we also really monitor what becomes our assets, in fact often the bank's rules are on us, while other bitcoins open up freedom to their users or those who own them, so I clearly think that keeping bitcoin yourself means we choose true freedom, which is not subject to the system (bank rules)

[Cryptoprincess101]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

The banking system has already failed so i wonder how Banks will accept to store bitcoins for people, bitcoin is a digital asset, it's not in physical form and it stands for decentralization, why will the bank interfere with the transaction of people and know how much they are hodling. I know that since the government is now involved in bitcoin, there is no way to maintain full decentralization but the privacy that comes along with keeping your money at your own custody is something that anyone will not wish to keep their bitcoins in the custody of any banking institution. Besides, when bitcoin becomes adopted globally, Banks will lose a lot of customers and most Banks might even shutdown, only the central banks might be in operation.

[Nothingtodo]

When banks allow deposits, centralized exchanges will lose popularity. Then the government can impose taxes on Bitcoin as it wishes. It would be better if the government and banks did not allow deposits in Bitcoin. Bitcoin is not allowed in our country yet, so if we go to make transactions through banks, we will have to pay additional taxes, so I think it will be more of a hassle than a benefit.

[Stepstowealth]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Whenever the banks start accepting bitcoins, know that strong regulations have come upon bitcoins. But bitcoins will one day be accepted by banks, so it means that one day surely strong regulations will be made by the government before bitcoins can be accepted. It is just a matter of time.

The banks have CBDC's (some countries), so maybe their first step will be considering accepting people swapping their Bitcoins directly to CBDC's or CBDC's to Bitcoin within the bank or via the bank app.

[Questat]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

I believe we are already working on it targeting bitcoin to become a medium of exchange soon, but when it comes to bitcoin deposits in a centralized bank, I don’t think this is what we want to do. As much as possible, we all want to be anonymous and continue hodling bitcoin, but this will lost its essence if we pursue to start depositing in a bank, thus giving us chances to be known and become a target of future scams and stealing our coins.

Bitcoin is our own bank, so why there’s a need to take them into the bank? While anonymity is at risk, and at the same time we are also putting our bitcoin and our own lives into danger, knowing there’ll be inside modus and future attacks possible once we get to expose that we are capable to hold numerous amount of bitcoin.

[Stalker22]

~

You are totally missing the entire point of Bitcoin. You are trying to put a decentralized, permissionless asset back into a centralized, permissioned system that it was created to replace.

The point is to be your own bank!  Handing your Bitcoin over to a traditional bank is a huge step back.  You are trading away all of the reasons Bitcoin was created to counter, you put your Bitcoin into a bank and bring back all the problems: counter-party risk, censorship, fees...  You are turning new innovative technology back into a more glorified version of its predecessor.  Which is exactly what a traditional financial institution wants!

[Bitcoin_people]

If banks accept Bitcoin deposits in the future, it will be the most problematic for customers. When you deposit Bitcoin in the bank, you cannot withdraw it at any time, but you will have to pay additional fees. Moreover, you will not have privacy and protection, you can be easily tagged, so I think Bitcoin transactions are still the best.
If you transact Bitcoin now, it will cost less and it will protect your privacy, you can make a lot of transactions in a short time, which will not be easy in the bank. So I think it is easiest to transact from a wallet, but if you deposit Bitcoin in a bank and then transact from there, it will be difficult for everyone. However, we have seen that before, Bitcoin deposits were kept in banks, El Salvador was the first country to legally recognize Bitcoin and there are various transactions made by Bitcoin.