Quote from: Nakakapagpabagabag on August 01, 2018, 11:48:46 PM

Quote from: centurionlaw on August 01, 2018, 05:28:36 PM

I think this is the good news if banks are accepting bitcoin and peoples can withdraw via Debit/Credit card. I hope In upcoming days all world wide banks will be accept bitcoin and these kind of adaption will be good for cryptocurrency future also peoples can hold bitcoins in their banks bitcoin wallet and directly can do transaction via bank no need to use third party apps.

This is the problem with the newbies, they're easily deceived by the news spreading on the social media. There is no banks that are accepting bitcoin. And remember that banks will never accept bitcoin, because they cant handle it. Bitcoin is decentralized digital currency, it means that it cannot be controlled or manipulated, and also bitcoin is volatile, it means that the price is changing rapidly and its unpredictable to know if its going to increase or decrease. Banks will not accept such that kind of thing, because they cant control it, and the price is not constant.

I agree and I really do think that there is a third party company involved in between. You deposit your bitcoin to the third party, you convert it into fiat, and withdraw the money through your bank account but not deposit to the banks then withdraw it in an ATM. People are commenting "Wow that's good to know" in this thread but never asked OP about the link or even the name of the bank that he's claiming to exist.

Banks are made by the government, controlled by government, and is for the government. Bitcoin is for people, on the contrary. Bitcoin is too volatile for the banks to even consider accepting it in their system. Let's say that a whale have deposited bitcoins to a bank, then cashed a huge amount of money, then the price of bitcoin went down, what now? That particular bank has already lost money when they could have just stayed in the same stance that they had, the one that only accepts cash. It's also possible that the opposite will happen (someone selling bitcoins then the price of btc goes up), and they end up having more cash. But to what end? They literally have unlimited amount of money, they don't need more of your cash.

Quote from: visionE2 on August 02, 2018, 07:36:41 AM

if there are so many banks accepted bitcoin, it can be rapid growth for bitcoin and make any investors optimist that bitcoin will be a future currency

We already have ETF for that although people can still be pretty optimistic about bitcoin if they study about it.

Quote from: John_Davis on August 02, 2018, 07:22:15 AM

Banks will take up anything that they can charge commission on. It wouldn't come as a surprise if there are banks accepting crypto, but I would be cautious about fees. P2P networks tend to be much cheaper. You might even get a better price from your online exchange.

The problem is the countries where regulation prevents banks from using it, like what happened in India recently. Also China, Venezuela, Turkey... there are many countries where the government will step in and try to block the transactions if they somehow think they are losing out on tax

I mean, just what is the reason for you to put your bitcoins in a bank which the government controls. When they decided to ban bitcoin, those that are in a bank surely will just be frozen there forever. We do have online exchanges that allows us to cash out our coins, what can the banks do that we can't do ourselves?