Quote from: Immanual Go on November 19, 2011, 11:20:56 PM

Quote from: BTC_Bear on November 19, 2011, 11:12:19 PM

Quote

- Bitcoins must be designated as "not illegal" so that institutions such as banks will accept them.

"Bank" ( a centralized institution for control and protection of money).

I'd put them in a bank for that exact reason.

Just want to make sure you know what you are saying....

Currently your BTC is and always be in the Block Chain, as long as you have your key, your BTC is there.

In order for a Bank to accept them, you will have to send them to their account (key) that you would not know, only "some" probably more than 1 person at a bank knows. Imagine a hacker that could get ahold of those customers Keys. Talk about a run on the bank, they could steal everyones money in a matter of seconds.... Now, how is the bank suppose to repay you.... your BTC...

Not discouraging the thought tho.... Banks would have a role to play... but not their current role. And obviously there would need to be many things worked out.