Quote from: pooya87 on December 31, 2021, 05:36:39 AM

Quote from: 1miau on December 31, 2021, 01:48:42 AM

By selling / converting BTC,

Does this mean that this bank is going to start buying bitcoin so that they can sell it to customers who want it or does it mean that the bank is going to act like a centralized exchange and only receive commission for letting people trade in their platform?

From their announcement, I would say yes to the bold part. But we have already a model in Germany, different from a trading platform: Bitcoin.de. It's like an open marketplace.
Could also be an option for Volksbanken Raiffeisenbanken maybe...

But the procedure isn't clear yet.

Quote from: BlackHatCoiner on Today at 01:36:01 PM

Quote from: 1miau on December 31, 2021, 01:48:42 AM

By selling / converting BTC, the bank would still make a profit and the article also mentions to sell education-courses for customers interested in Bitcoin (most likely inlcuding informational material).

So it's a business. May I assume they'll open up some sort of exchange in a subdomain of their webpage for buying and selling with crazy fees?

We don't know much yet about their business model but I expect higher fees similar to ATMs.

Quote from: TheNineClub on Today at 03:38:50 PM

Not bad news. If I am not mistaken, Germany has some more or less lenient views on taxing crypto income (Crypto that's been held for 2 years or more is not taxable). Banks offering crypto services in business operations is a smart move, it might even push other banks in the EU to do the same.

It's only 1 year, so if you HODL your coins 1 year, it's tax free profits.

But I'm not sure how long it will stay that way.
I'm very surprised that it hasn't been chanced already. Cheesy

Quote from: dkbit98 on Today at 07:29:47 PM

Quote from: 1miau on December 30, 2021, 06:59:20 PM

Recently, a famous German Bank (Volksbanken Raiffeisenbanken, Bayern Mitte) has announced to consider offering Bitcoin services. It happened a few days ago already but it’s a very bullish news if you look at 2 facts

This is very interesting news and forum is the first place I heard about it, it's even more interesting when we know that Raiffeisenbank is operating in my other European countries and not only in Germany.
It's true that banks can't do anything on their own but in reality we know they are all supporting politicians that can speed up adoption of Bitcoin.
Question I am asking myself is why would a bank do such a big deal related with Bitcoin if they don't have some benefit and profit from this deal, there must be some hidden agenda I can't see right now.
Looks like a step in a good direction but let's wait and see what happens in next few months.

Banks like Volksbanken Raiffeisenbanken are a bit different from what we know about Americans banks, so profits are important but not that important.
We discussed profits here:

Quote from: 1miau on December 31, 2021, 01:48:42 AM

Quote from: BlackHatCoiner on December 30, 2021, 08:20:30 PM

A good question is: Why would a bank want to give the option to their customers to hold bitcoin themselves? Isn't it against the whole point of a bank? I mean it's fine if they announce that they keep reserves in bitcoin, but why promoting it as a currency if it makes your business poorer?

By selling / converting BTC, the bank would still make a profit and the article also mentions to sell education-courses for customers interested in Bitcoin (most likely inlcuding informational material).

After all, it's possible, that the bank and the customer end up having a profit.