Bitcoin Bank???

[Labumi]

I don't know how it will work for any of us. A Bitcoin Bank that provides interest to us? Maybe it is some kind of an impossible thing because Banks need to handle the volltility of Bitcoin. A Volatile money means it won't be profitable to banks because no customer is willing to accept that kind of currency.

a bank is not just offering profit, there are lots of other services they offer too. such as storing money, giving loans, giving ways to spend it such as credit cards, checks, ... some of these services would be stupid with bitcoin but many may like it.
also the volatility is not an issue when you just work with bitcoin meaning you receive bitcoin and pay bitcoin

Yeah it would not make sense to us Bitcoin Users depositing out Bitcoin to a Bank. It is like putting your money into nothing. A Bitcoin Wallet has all the functions that you are looking for a bank except for loans and interest. However the growth of Bitcoin is greater than any interest that a bank is offered. If I were you having your Bitcoin in your wallet is much better because you have full control of it.

Yup, indeed I also think that having your own wallet much better compared to the banks. because the wallet will give us the freedom to do all the money we have in the wallet. But keep in mind that each wallet has a high level of risk, so if we do not do a very tight security it provides great opportunities for hackers to take all of the funds that you have

[dearbesz1219]

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

I don't agree on bitcoin bank, this is just a piece of crap for me and a kind of stupid things I think, base in my opinion only. And at the present time  now we don't have any  bank which is open online.

[brokens]

I don't agree with bitcoin bank
it's not good.

[ReLieD]

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

I am not really agreed on  Bitcoin bank, I don't know why some of the people in this industry are trying to push or promote the bitcoin bank. Maybe he/she has an intention to get the trust of the bitcoin users which is once they get it and many are entrust their bitcoin in it. There is a possibility that the owner of the bitcoin bank can declare bankruptcy, so their client had nothing to do with it. Same as the policy in typical bank in the private sector.

I also agree with you as not many people will keep a lot of their money as bitcoin as it is just an online currency.
And moreover there are many wallets to store bitcoin so they can store bitcoins in different wallets.
So having a bank just for bitcoin might not be essential. So I probably don't think that any such thing would happen

[noictib]

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

I think here no one 100% legit site or bank available for the bitcoin and bitcoiners that can pay us sure profit interest like the traditional bank system in Fiat currency .
Since some of the alternative are available to make profit more than that we are getting from the bank small interest .
We should put our Bitcoin at Poloniex like exchange and out our Bitcoin and other popular altcoins to lend .
In this way we can make more than the interest paid by the bank without any risk .

[Kray]

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

I think here no one 100% legit site or bank available for the bitcoin and bitcoiners that can pay us sure profit interest like the traditional bank system in Fiat currency .
Since some of the alternative are available to make profit more than that we are getting from the bank small interest .
We should put our Bitcoin at Poloniex like exchange and out our Bitcoin and other popular altcoins to lend .
In this way we can make more than the interest paid by the bank without any risk .

I dont have trust with net banking, better stake your coin by yourself than store your coin to other people

[bitcoin-shark]

be your own bank keep your bitcoin on a wallet where you have the control of your private keys then you don t need a bank anymore

[BitHodler]

Banks don't protect you from volatility in the real life as well. E.g.: You live in the USA and you want to have an account in EUR currency. The bank lets you open the account, helps you exchange your USD to EUR, but after the bank won't protect you from the volatility of EUR, that means you won't be sure that your EUR will worth the same amount of USD compared to the time when you originally had it exchanged. This is not a problem in real life, why should it be a problem in connection with bitcoin? A lot of peole use the volatility of different currencies and uses it to make money by exchanging the currencies at the proper time.

You miss two very important points.

1 ~ I pointed the question of how banks would prevent people from being exposed to the volatility at the user I quoted. I didn't say anything about banks to offer protection against volatility.

2 ~ Banks/governments don't consider Bitcoin to be a currency that sits on the same level as fiat currencies. So your example/comparison is not valid.

[bitart]

Banks don't protect you from volatility in the real life as well. E.g.: You live in the USA and you want to have an account in EUR currency. The bank lets you open the account, helps you exchange your USD to EUR, but after the bank won't protect you from the volatility of EUR, that means you won't be sure that your EUR will worth the same amount of USD compared to the time when you originally had it exchanged. This is not a problem in real life, why should it be a problem in connection with bitcoin? A lot of peole use the volatility of different currencies and uses it to make money by exchanging the currencies at the proper time.

You miss two very important points.

1 ~ I pointed the question of how banks would prevent people from being exposed to the volatility at the user I quoted. I didn't say anything about banks to offer protection against volatility.

2 ~ Banks/governments don't consider Bitcoin to be a currency that sits on the same level as fiat currencies. So your example/comparison is not valid.

1. Sorry, my post wasn't to be a reply but just a new post, I've clicked the wrong button, there's no need for an answer from you.
2. I reccommend reading this:
http://www.loc.gov/law/help/bitcoin-survey/ This is a link to a survey about countries and the regulation of bitcoin in particular countries. E.g. EU countries consider bitcoin as a currency and not a commodity. Japan is even more bitcoin-friendly.

[Fireblade]

Most likely bitcoin wallets serves as banks for our bitcoins but does not have an actual system features like what real banks have.But coinbase i think offer likely but not the same services as real banks offer.But there are maybe more coming wallet that will feature all that too

and i do not think that we need for any bitcoin bank. i think the wallet system is the best option as we have fully right to use our wallet anywhere and any time there is not time frame for using bitcoin wallet to use. i can withdraw my bitcoin any time for spending it or investing it anywhere. there is no restriction to use for investment or spending it.

[mornabo]

Most likely bitcoin wallets serves as banks for our bitcoins but does not have an actual system features like what real banks have.But coinbase i think offer likely but not the same services as real banks offer.But there are maybe more coming wallet that will feature all that too

yeah probably would not come bitcoin bank, but will come online wallet that is similar to bitcoin bank. where they promised interest and loans. but of course they have control over your bitcoin?

[shinratensei_]

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

I think here no one 100% legit site or bank available for the bitcoin and bitcoiners that can pay us sure profit interest like the traditional bank system in Fiat currency .
Since some of the alternative are available to make profit more than that we are getting from the bank small interest .
We should put our Bitcoin at Poloniex like exchange and out our Bitcoin and other popular altcoins to lend .
In this way we can make more than the interest paid by the bank without any risk .

I dont have trust with net banking, better stake your coin by yourself than store your coin to other people

If everyone remembers about the sentence of being your own bank and the bitcoin bank will be very useless in my mind, And no one was interesting to store his money into the 3rd party and I can say the bitcoin bank idea just like a troll and it will never happen because both are the opposite things.

[iv4n]

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

[raven7886]

Banks don't protect you from volatility in the real life as well. E.g.: You live in the USA and you want to have an account in EUR currency. The bank lets you open the account, helps you exchange your USD to EUR, but after the bank won't protect you from the volatility of EUR, that means you won't be sure that your EUR will worth the same amount of USD compared to the time when you originally had it exchanged. This is not a problem in real life, why should it be a problem in connection with bitcoin? A lot of peole use the volatility of different currencies and uses it to make money by exchanging the currencies at the proper time.

You miss two very important points.

1 ~ I pointed the question of how banks would prevent people from being exposed to the volatility at the user I quoted. I didn't say anything about banks to offer protection against volatility.

2 ~ Banks/governments don't consider Bitcoin to be a currency that sits on the same level as fiat currencies. So your example/comparison is not valid.

That is true, for a long time now people have been complaining about why bitcoin is still not an approved currency by the governments, and thus making banks not interested in storing it, that is because bitcoin is something that is not controlled by anyone and it could change in terms of price unlike other fiat currencies which makes storing it in banks a big risk.

[crazyivan]

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

[simpler2016]

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

[Fireblade]

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

yes i am also not in favour of bitcoin banks. i think the wallet system is the best option for keeping bitcoin. i think no one will be welling to use banks for withdrawal or depositing bitcoins in bitcoin banks. in fact using online wallet system is more easy and convenient to use bitcoin wallet for different purposes. i myself using blockchain wallet and yobit wallets for saving my bitcoin.

[richardsNY]

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

It doesn't go against Bitcoin's principles since Bitcoin also stands for freedom. I personally wouldn't make use of such a service, but that doesn't it can't be a useful solution for others. It's a fact that certain people can't handle the responsibility of managing their own wealth. That's why they are eagerly looking forward to what might be a bank-like service. Why would we care about what others do? If they want to make use of such a service, then let them. It has zero impact on us.

[Taki]

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

yes i am also not in favour of bitcoin banks. i think the wallet system is the best option for keeping bitcoin.

I am agree. The idea of just keeping bitcoin safe seems me silly, cause of private wallets of different kinds do this option very well. And other bank's services like kredits seems a bit strange, cause of you can take like 1 BTC credit with price 1200$ and in a year or two you will have to pay back this 1 BTC with price 2000-3000$. I think till bitcoin will not be mass adopted about such things as bitcoin bank there is no sense to even talk about.

[asdalani]

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

Having to put my Bitcoin inside a Bank just for interest rates wouldn't be that smart. Bitcoin is already going up in value so why would I need more money and generate more risk rather than reward? A Bitcoin Bank would only have an interest rate of less than 1% or so, that just doesn't make sense to me.

Just simply holding Bitcoin inside a regular Bitcoin Wallet is enough for me. If the price goes up more then I would make more money and lose nothing.