U.S. regulators exploring how banks could hold Bitcoin

Re:U.S. regulators exploring how banks could hold Bitcoin – ... by matheusmoreira on Tuesday October 26, 2021 @04:57PM (#29006148)

Bitcoin failed that requirement. Expensive transactions ensure that nobody will attempt to move their coins in order to actually transact. The exchanges turned into banks instead.

Also, the risks associated with physically holding substantial wealth in bitcoin cannot be ignored. It's just like storing lots of cash at home. We should have the option to store it at a bank if we want to.

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Re:U.S. regulators exploring how banks could hold Bitcoin – ... by trixie_ on Wednesday October 27, 2021 @02:21AM (#29010102)

People don’t transact gold either. It is difficult to transport and verify. Gold is though a reliable store of value as creating more is not easy, just like Bitcoin.

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Re:U.S. regulators exploring how banks could hold Bitcoin – ... by matheusmoreira on Wednesday October 27, 2021 @02:44AM (#29010246)

I don't dispute that gold is a good store of value. I'm saying bitcoin was supposed to have been more than that. It was supposed to be a currency. It failed.

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Re:U.S. regulators exploring how banks could hold Bitcoin – ... by trixie_ on Wednesday October 27, 2021 @11:02AM (#29014221)

Not really, Bitcoins transaction fees, processing times and rate limits have been well known for a decade. If you think Bitcoin was ‘supposed’ to buy a cup of coffee that’s on you. The rest of us have been using it successfully for much bigger things.

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Re:U.S. regulators exploring how banks could hold Bitcoin – ... by New_California on Tuesday October 26, 2021 @05:00PM (#29006200)

Yes, there should be options. Not your keys, not your Bitcoin though!

You can outsource to an exchange/bank but that gives you an IOU only, and not Bitcoin. The IOU is permissioned, censored, and prone to seizure.

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