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Question: Do you agree with idea "Bitcoin bank" ?
Yes
No
I don't know/I'm not sure yet
I don't care

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Author Topic: Do you agree with idea "Bitcoin bank" ?  (Read 139393 times)
mkmdoc
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February 10, 2017, 05:27:34 AM
 #1221

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.


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February 10, 2017, 05:39:22 AM
 #1222

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.

If the bank that we are going to build is going to have a purpose, not just the same as the exchange sites can offer, say, they are offering what banks are offering, then, I'd definitely agree with that.

But if it is just the same as the exchanges, they would just compete with each other and just make bitcoin a money making thing than them becoming a public service establishment for bitcoin.

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February 10, 2017, 06:09:50 AM
 #1223

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.
yeah for your wallet alive or still believable. and the exchange is still within easy reach, I think bitcoin bank does not need to exist. after all, you can store easily in a wallet. even the security is still very assured



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February 10, 2017, 08:53:41 AM
 #1224

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.
yes in modern time we do not need any traditional  banking system. i think the online wallet system is the best system. in which we do not need to visit  bank and complete the procedure. using online wallet system we can use our wallet any time and any where without any delay and without any other issue. i will like to continue the wallet system for ever. as it is too much convenient for me.

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February 10, 2017, 08:58:05 AM
 #1225

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.
yes in modern time we do not need any traditional  banking system. i think the online wallet system is the best system. in which we do not need to visit  bank and complete the procedure. using online wallet system we can use our wallet any time and any where without any delay and without any other issue. i will like to continue the wallet system for ever. as it is too much convenient for me.
They won't even have the authority to build a bank ran by Bitcoin. In the first place they can't setup a bank that accepts unregulated currency. It will be a violation to the country's banking system. Usually the only thing they will accept is there local fiat and other currency that has a big value into it such as Euro and USD.

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February 10, 2017, 09:31:20 AM
 #1226

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.
yes in modern time we do not need any traditional  banking system. i think the online wallet system is the best system. in which we do not need to visit  bank and complete the procedure. using online wallet system we can use our wallet any time and any where without any delay and without any other issue. i will like to continue the wallet system for ever. as it is too much convenient for me.
I think people want a full control by their money. so I think bitcoin bank will not be so in need. because I believe bitcoin users will be pleased with the wallet than bank
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February 10, 2017, 09:32:37 AM
 #1227

I agree, I think it is a good idea to streamline the distribution of bitcoin and means of socialization and can guarantee the security of the bitcoin so if lost can be found again.

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February 10, 2017, 09:58:21 AM
 #1228

Well bitcoin banks already exist and we call them " Wallet " we earn btc and store them into out bitcoin bank or i should say bitcoin banks. maybe it happen in future
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February 10, 2017, 10:09:09 AM
 #1229

As long as you have enough exchanges to convert your bitcoin to use fiat currency then there is no need of any banks. Because after converting to your fiat you will get the money through banks only. Right now to form bitcoin bank is very difficult because there is no proper resistance from the government with bitcoin. So this is really a bad idea to setup a bank.
yes in modern time we do not need any traditional  banking system. i think the online wallet system is the best system. in which we do not need to visit  bank and complete the procedure. using online wallet system we can use our wallet any time and any where without any delay and without any other issue. i will like to continue the wallet system for ever. as it is too much convenient for me.
They won't even have the authority to build a bank ran by Bitcoin. In the first place they can't setup a bank that accepts unregulated currency. It will be a violation to the country's banking system. Usually the only thing they will accept is there local fiat and other currency that has a big value into it such as Euro and USD.

Indeed.  There would be conflicts in business permits here if someone will open one bitcoin bank. Questions like: What would be in there?What will you store? What else could you provide for the community? This can be used against the certain one who would create the bank. It has to be thought well before jumping to conclusion. This ain't an easy task. We are talking about banking here. Means it will collect something which relates to money or something financially.

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February 10, 2017, 11:03:51 AM
 #1230

No, i won't agree to the idea of a bitcoin bank. If bitcoin bank will be created then those bitcoin wallets that we use will be useless. We can't have our own privacy because we need to put it in a bank. They can hold it whenever they want. It will have higher fess than what bitcoin wallets require.

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February 10, 2017, 11:12:51 AM
 #1231

No, i won't agree to the idea of a bitcoin bank. If bitcoin bank will be created then those bitcoin wallets that we use will be useless. We can't have our own privacy because we need to put it in a bank. They can hold it whenever they want. It will have higher fess than what bitcoin wallets require.

That's not true... Wallets will still be present if a bitcoin bank would really happen... How can we transact if we don't have bitcoin wallet.. But I still believe that bitcoin bank is still far from becoming true... Exchanges are still enough and could fulfill what we want with our bitcoin... But with the growing needs of the community, we might end up really having some bitcoin banks...  Smiley

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February 10, 2017, 11:48:02 AM
 #1232

I'm not sure what to think. When someone mentions banks I think on all the bad stuff. Could Bitcoin bank be different and do we maybe already have some services that act like banks and provide some similar things like banks? Like exchangers, wallets etc.? It's something to think about.

I think that you're right because we shouldn't think of banks when talk about Bitcoin.
The purpose of Bitcoin is to forget about banks
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February 10, 2017, 12:49:26 PM
 #1233

Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
I believe exactly the same this one of the worst ideas I've ever heard,a "Bitcoin bank" has nothing to offer and it is against Bitcoin philosophy the few who agree with this idea and are interested in using a bank like this to keep their coins are probably newbies or people who never understood the concept of Bitcoin.

I think that you're right because when you think about Bitcoin you don't think about banks. And it goes against the ideas of Bitcoin.
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February 10, 2017, 01:30:28 PM
 #1234

I think that you're right because when you think about Bitcoin you don't think about banks. And it goes against the ideas of Bitcoin.

It doesn't go against the ideas of Bitcoin. It's just how you see it. Bitcoin was created to serve as a decentralized peer 2 peer currency that allows you to instantly transact with anyone anywhere in the world without the need of an entity (central authority) in the middle. Bitcoin bank is just a term that people take way too seriously here. It will be nothing more than a service that is operating like a bank (as far as it is possible), but it will function purely as an optional service. You aren't being forced to make use of it.

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February 10, 2017, 03:05:20 PM
 #1235

Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
I believe exactly the same this one of the worst ideas I've ever heard,a "Bitcoin bank" has nothing to offer and it is against Bitcoin philosophy the few who agree with this idea and are interested in using a bank like this to keep their coins are probably newbies or people who never understood the concept of Bitcoin.

I think that you're right because when you think about Bitcoin you don't think about banks. And it goes against the ideas of Bitcoin.

bitcoin will always be bitcoin. having a bank to bitcoin is not good for us bitcoin users because it may tax as and have a high transaction fee. plus our bitcoin wallet will be much good to this banks because it is more cheap. comparing those two i think they only have the same security. we need banks if hackers can hack wallets.

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February 10, 2017, 03:10:25 PM
 #1236

Well bitcoin banks already exist and we call them " Wallet " we earn btc and store them into out bitcoin bank or i should say bitcoin banks. maybe it happen in future

This is likely not something which folks mean here

And here they seem to be meaning that regular banks are going to adopt or accept Bitcoin just like they accept other currencies (i.e. open accounts in them), be it a local currency or a foreign one (like the US dollar outside the US borders). The difference is that adopting Bitcoin by fiat banks is not possible without prior explicit consent from the authorities, and people are afraid that by accepting Bitcoin governments are eventually going to own it

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February 10, 2017, 03:10:40 PM
 #1237

Banks don't really bring much of a benefit for bitcoin users. We could get no interest, and it would actually lessen the security of the most paranoid and secure bitcoin users. It defeats the purpose of decentralization.
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February 10, 2017, 03:15:20 PM
 #1238

disagree with this, I like bitcoin because decentralized, low-cost delivery, indefinitely where and whenever. also easy when making the wallet, without requiring data such as opening an account in a bank, and of course tax is free Cheesy

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bitbob82
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February 10, 2017, 07:10:33 PM
 #1239

disagree with this, I like bitcoin because decentralized, low-cost delivery, indefinitely where and whenever. also easy when making the wallet, without requiring data such as opening an account in a bank, and of course tax is free Cheesy
yes i am also not in favour of bitcoin banks i think online wallet is the good idea. i do not want to follow the previous traditional method of depositing and withdrawal of money. it is very easy to use online wallets for depositing and withdrawal of bitcoin. therefore i will online like online wallets.
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February 10, 2017, 07:13:29 PM
 #1240

I agree with bitcoin bank. We can have a securities with it, we are not going to be afraid on losing our money. We all know that we have the fear on losing our own money. I suggest to have a bitcoin bank, where we can store our own money. Instead of wallet address, we should have the unique account number, for us to store our bitcoin.

I disagree, the existence of the bitcoin surely there must be a different thing. The presence of the bitcoin bank will limit the transaction we do, surely this would have an impact on high cost. In addition, when we made the wallet of course must be through the bank and require legal data. So I conclude that bitcoin bank and fiat money is same and I will leave bitcoin.
Yes, bitcoin Bank is useless, I think even online wallet is save enough. I also Think that if transaction of bitcoin become controled by bank, people Will leave bitcoin. we have our own wallet, if we need to save large amount of bitcoin, we only need to choose the right type of bitcoin wallet. I think hardware wallet is the savest one.
I like bitcoin because no one can control my money or steal it. So I do not like bitcoin bank.
It is really useless since we do have lots of wallets either online or offline and if theres a bitcoin bank then what would be the purpose of those wallets? Then for sure people would still use them even banks will come out but they will not last for sure because people will mainly like to hold their own money without exposing their identity and they have the full access on it.
While this is true, don't underestimate the laziness of people, if they somehow think that securing their coins is too difficult you can bet a bank will seize the opportunity and say they can secure your coins for a price and then bitcoin banks will become a reality.



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