Bitcoin Forum

Lending bussiness is something a very potential in the bitcoin world...we know tbat there are many websites which give us a loan in any value i.e btcjam, bitlendingclub...but the problem is when we want to get the loan from those sites...the loan have to bu fulled by the other member there as an investors and if there is no investor that can fulled our loan its mean we can't get the loan...
it can be different where there is a company that operated like the "Bank" system they supply the neccesary of the loan from thw customers with their own money...
my question is there any bitcoin startup which operated like a conventional bank for bitcoin ecosystem

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

The main purpose of the Bitcoin Digital currency is to avoid the current conventional banking systems, Bank operating now a days all over the world in not an open accounting system where as Bitcoin Digital currency is, and it is purely based on peer to peer networking system and there is no central authority.

maybe we can think that it is not interesting for us, but i could see a good spot for those banks, to boost bitcoin adoption, because there are many people that feel unsecure when they hold their bitcoin

this is why you see many using online wallet or centralized wallet in general, they don't want to handle their security, in this sense those banks might help them and bring more trust and confidence to bitcoin than any other thing

I agree with you and the security for holding bitcoin personally is one of the many reason that can be the opportunity to bitcoin bank...and it is mean if i hold my bitcoi. in my wallet on my hardisk and then suddenly something wrong happen causes we lost our bitcoin and nothing to do ..but if we save our bitcoin to the bitcoin bank and if something happen to bitcoin wellet on the bank...and if this bappen we can claim our bitcoin to the bitcoin bank

But the problems are that they are handling over their bitcoin to other parties and lose control to it. Is so called bitcoin banks legit or what is the level of the security? No one can specify them! Hacks or scams are always around! it is not really safe! The users may lose their money one day!

Coinbase could easily be the leader in lending if they wanted to expand their banking operation beyond deposits. Lending in bitcoin is risky. The price is volatile and the inherent anonymity of the payment and ownership system could make it difficult to prove that one person ever received a loan and is therefore required/obligated to pay it back. The fact that many countries don't fully acknowledge bitcoin as a currency could hurt the company's chances of getting money back when someone bails on their loan.

There's so much risk involved and risk increases the interest rates, which makes it harder for people to payback a loan (or even want one beyond what's available in the fiat based traditional banking market.)

I think bitcoin-centric insurance needs to come first, then lending can follow.

nothing is 100% secure, besides vernam cipher, but if those bank will be regulated like common banks, they you can rest assured that your money will have a high security, on par with your current fiat bank account

 Bank of Bitcoins is not available in our country  >:(

When bitcoin is giving you the power to be your own financial bank, you do not need any third party bank for their services, enjoy bitcoins the way you deserve to :D

banking credit system that operates with bitcoin would
cast doubt on the verification of borrowers. bitcoin
wallet would not be anonymous?

While a bitcoin bank could help adoption, my opinion is that this runs contrary to the paradigm of bitcoin of being your own bank.

not all country have bank of bitcoin maybe only some country have bank of bitcoin because bitcoin still not accept as a currency. we still need more time to have bank of bitcoin in all country

exactly this, well sayd man.

if this finally happened, i mean that someone start to offer that service, i think that i will never use it and i will never recommend to use it to anybody, people should realize whats the spirit of bitcoin and take care about it a little bit more, if not, then the bitcoin sense will fail.

I don't think that it would be easy to build something like a bitcoin bank since the are still many regulations. It will probably be possible in the future were the laws will hopefully be more bitcoin friendly.

It is a good idea. This will improve the safety of Bitcoin. And expand many features.

such as? Questionable anonymity, going against its major feature of being your own bank, letting third party handle your transactions, give out your btc to others in order to lend btc and make more btc in return, it will all how the financial institutions are right now: Broken. We all rant about how bitcoin could fix the problems fiat endure, then why try to make it just like fiat?

I never know if bitcoin bank was there, but it would probably be better if the bitcoin bank actually exists

I agree, we should't try to make bitcoin a fiat alternative. Bitcoin is a total different protocol than fiat money, what bitcoin  needs now is mass adoption which can be archived with innovation and "killer-apps".

I thought we already have a bank of bitcoin.

It has a evil face called "coinbase" where they determine who gets bitcoin and who doesnt based on where you spend it. And if you cant answer that question that youre gone.

I would say my bitcoin client itself a bank. I have facility to get or to send. Precisely saying our bitcoin client is equivalent to internet banking client. So, we are already into a free banking system.

I would not jeopardize my bitcoins depositing them in a bank, nowadays you can not trust anyone.

Perhaps many people would use a bitcoin bank, either through ignorance or convenience, I certainly kept them in many address with my private key.

the only problem that i see on this is security, you must work a bit to ensure that your coins are safe, i know thatpeople around the word don't like to do this, they think it's better to trust the bank and their government, for the security of their money

a better example of bank of bitcoin right now would be xapo or any other centralized autorithy that deal with bitcoin, and while they are against what bitcoin is,

i'm sure they can help bitcoin grow indirectly, by increasing the acceptance among those that find hard securing their coins

How do you define bank?In my opinion bank is where people deposits their money, and bank lends it to credible lenders with an acceptable interest for defined time.

If I borrow money either in BTC or BTC price related differential financial instruments I would be doubtful about the daily volume of BTC.The reason is the volume is so little that it can be manipulated very easily (I am not talking about speculation but manipulation).

Your client is a bank which doesn't pay interest. Your bitcoin client is the equivalent to a pillow - under which you stuff your cash.  :)

I think a bitcoin cooperative type of bank would be good because that way all the participants in the bank could earn a dividend from all the activities and profits the banks make thus being a real People's bank as opposed to just milking us to feed the wall street shark CEOs.

I run my bitcoin bank in my computer. The basic objective of satoshi is to provide banking facility to everyone with zero trust. It means anybody can run their own banking system. Our wallet is very much equivalent to a bank. So, I'm not thinking of a traditional style of banking for bitcoin.

Nice innovative thinking. I need to accept my wallet as a banking model like satoshi dreamed to bring every internet user. I need to second satoshis idea of owning banking system without trusting any government or central bank. I feel proud of myself as being a bitcoin user, because I own a bank now.

Yup.  I do not see a large demand for BTC loans (as a legitimate borrower or lender) at least for now.

The Central Bank of OROBTC will just HODL its BTC, or spend some of them on gold...  A nice thing about BTC is that you can take them with you without worrying about TSA, Customs, etc.

I don't think that it will be a good idea for Bitcoins Banks. The best thing about bitcoins is we are our own bank, this is like a freedom from traditional banking system and many people are attracted towards bitcoins for the same unique reason. If there are banks for bitcoins then there will be nothing new between bitcoins and traditional currencies.

I think most people will resort to services like Xapo rather than hold all of their coins. They will hold some, then the big stack will go on Xapo so if they lose their coins they can blame them and not themselves. People dont like responsibility, it is what it is.
I would like to see a way ot make money from passive interest, having your coins sitting in your wallet with nothing better to do is a bit boring, I would like to play with at least 20% and trading is too risky, but yet again stuff like BTCJam is risky as hell too.

Good point sure we need this kind bank, so that we can choose what we want with our biticoins and there will be a safer place to keep our biticoins, sure bank is safe right.

very remarkable if bitcoin has a bank in the real world
all transactions using bitcoin will become easier

bitcoin can do. and it just takes time

This is completely wrong assumption and you are being manipulated into thinking that bitcoin can't be perfectly secure in your own hands.
You don't need bank to manage your coins, you don't need secure vault to be sure that your coins are safe, all you need is a little common sense!

well, really cool if there was a real bitcoin bank
all transactions made easier

I think if bitcoin use this system, will centralized by conventional bank and exchanger marketplace can't independent to play fluktuation rates

It will be a fantastic choice if it can be found a bank of bitcoin. Most and first of all because will increase at maximum the faith of the simple people in this currency. In this way people will see bitcoin a seriousness money and will begin to act more normally with it. It will be problem only that bitcoin is treated differently in different countries and this can be a problem for the acting of this bank. It's ok that it can not have activity with those (or have limited activity based in their rules) but the today world is so complicated and connected so this behavior can stop to much the normal activity of such bank.

so basically if there bitcoin bank, there will be two currencies used a country, so the economy becomes unstable