Post
Topic
Board Bitcoin Discussion
Re: German Bank announces to support Bitcoin; says it's important to own private key
by
Saint-loup
on 01/01/2022, 20:42:19 UTC
Only Bitcoin will be offered:
„We will only offer Bitcoin, not other Crypto assets. Quite simply because only Bitcoin is really a decentralized blockchain application and from our point of view only Bitcoin offers sufficient security against manipulation. All other crypto assets are not comparable to Bitcoin. Above all, they are not decentralized, but there are companies or business models behind influencing the respective Crypto value.“
That's not really bullish... Most of people are not interested in Bitcoin because it is too slow and too expensive to be used in real life then I'm not sure they will convince many customers if they only offer Bitcoin.

Most important point: it’s important to own your Bitcoins:
„The most important topic when trading or storing Bitcoin is to be owner of your so-called private key, (secret key allowing access to your Bitcoin). This is where our first considerations were made.
Which trustworthy solutions can we offer for our customers? Many crypto platforms only give limited or no access to private keys because all Bitcoins are centrally stored on behalf of the customer.
[…] Bitcoin centrally stored by platforms is of course an interesting target for hackers. This also counteracts the decentralized storage in the Bitcoin blockchain. That's why we were looking for solutions in which the customer keeps his private key himself and can therefore own his Bitcoin himself.“

I'm curious to see what they will offer to their customers? A new hardware wallet like trezor/ledger branded "Volksbank Raiffeisenbank Bayern Mitte" or something like opendime/tangem?