Alternative Bank Schweiz imposes negitive interest rates

[TsonicTsunami]

In answer to Trace Mayer's question " Why do people hire Bitcoin? " I beleive the The Alternative Bank Schweiz ( ABS ) may have provided that reason to the good citizens of Switzerland. In a letter to all clients the bank informed them that as of January 2016 the bank would begin imposing interest charges on deposits, that would be negitive interest rates.

I would be very interested on the thoughts of the community about these developments. It is my feeling this will show Bitcoin as a superior store of value and perhaps set the stage for a massive speculative attack.

http://news.yahoo.com/swiss-alternat

[LiteCoinGuy]

can you provide a source please?

anyway: alot of people have predicted this scenario since years. negitive interest + inflation = burning paper.

[TsonicTsunami]

LiteCoinGuy"]can you provide a source please?

"anyway: alot of people have predicted this scenario since years. negitive interest + inflation = burning paper."

Now it appears to be moving from speculation to reality. While it is a small bank one must remember, it only take one snowflake to trigger an avalanch. I added a link to the story on Yahoo news in the original post.

[CryptAxe]

The Snake is eating itself from both ends now