Quote from: cheezcarls on Today at 10:05:35 AM

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:

1. All Volks- und Raiffeisenbanken in Germany will be likely to follow and have around 30 millions of customers.

2. How it was announced:

All employees will be educated in workshops about Bitcoin, including the most important topics.
Andreas Streb, board director, said „sooner or later, Bitcoin will be important for every Bank and every company“, so he suggested to start adopting it as soon as possible because it’s important for him to stay ahead of foreign players or even local startups. In addition he wants to offer a safe, established environment for his customers to avoid the risk to get scammed by shady foreign exchanges or getting hacked.
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.“
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.“

It’s a very bullish signal if a board director of a German bank points out what’s important about Bitcoin (education about Bitcoin’s tech, supporting a really decentralized coin (no shitcoins), not your keys not your coins).
We would expect such statements from most long-time forum members, but it’s surprising to hear it from a board director of a German bank.
100% bullish.

It was published here (German), very recommended read (if you translate it): https://www.profil.bayern/12-2021/praxis/bitcoin-wir-lassen-unsere-kunden-nicht-alleine/

This will give Bitcoin a long-term push because of the German bank’s support about it alone and not other cryptocurrencies. It’s very bullish for me in my opinion. Hopefully in a slow but surely, other crypto-friendly banks would also do the same thing.

Here in the Philippines, there are only a few banks who are friendly to Bitcoin (and there’s even one bank named UnionBank of the Philippines who had its own government-regulated Bitcoin ATM). Hopefully more banks would embrace and accept Bitcoin in open arms, but it’s not going to be easy and swift.

Germany is all over the news.
just read an article which read "Germany Drops Plan To Extend Mortgage Term For Tax-Free Sales Of Crypto To 10 Yrs"

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