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Question: Do you agree with idea "Bitcoin bank" ?
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Author Topic: Do you agree with idea "Bitcoin bank" ?  (Read 139494 times)
Machine Funk
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April 06, 2017, 01:35:26 AM
 #1521

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.

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April 06, 2017, 01:47:35 AM
 #1522

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.



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April 06, 2017, 02:07:12 AM
 #1523

I agree when held bitcoin bank because it is very helpful to us all.

agree?

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April 06, 2017, 02:10:34 AM
 #1524

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.

Banks do have some positive aspects that create value rather than just slurp it from others. For example, pooling bitcoin investments, using them to fund real world, non bitcoin related.ventures is something a bank would do in RL. Also, offering long deposited bitcoin to lenders for interest. While I agree that the whole purpose of bitcoin is being your own bank, the community aspect/pooled risk characteristics of.banks can dovetail with the spirit of.bitcoin in a meaningful way. But, you will have to relinquish trust.

Like a bank Wink

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April 06, 2017, 02:22:36 AM
 #1525

I guess, Bitcoin bank is good as long as it is 100% DECENTRALIZED , 100% SECURED, but keeping PRIVATE , SECURE and CONFIDENTIAL just like XMR.

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April 06, 2017, 02:26:01 AM
 #1526

Yes I agree! this will be a big help to all of us.. but maybe this only can happen if the government accept bitcoin as 1 of the currency to a country for buy and selling real life things.
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April 06, 2017, 02:29:42 AM
 #1527

I guess, Bitcoin bank is good as long as it is 100% DECENTRALIZED , 100% SECURED, but keeping PRIVATE , SECURE and CONFIDENTIAL just like XMR.
If you say bank, it is a place where you put your money and they have the control of your money once you deposited it on the bank. Compare to the bank of fiat, they use our money to give loans and use it to invest for their company and also control the supply of the money. So i don't think that bitcoin will be decentralized once it gets a bank because the bank will take over the control if you already  deposited your money.

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April 06, 2017, 02:41:18 AM
 #1528

I guess, Bitcoin bank is good as long as it is 100% DECENTRALIZED , 100% SECURED, but keeping PRIVATE , SECURE and CONFIDENTIAL just like XMR.
If you say bank, it is a place where you put your money and they have the control of your money once you deposited it on the bank. Compare to the bank of fiat, they use our money to give loans and use it to invest for their company and also control the supply of the money. So i don't think that bitcoin will be decentralized once it gets a bank because the bank will take over the control if you already  deposited your money.
If bitcoin bank happen, the control is still not on the bank or the government either, but it would be still decentralized. If bitcoin banks happen, it woould just serves as an exchanger wherein the purpose isn't to loan but to save, deposit, , and withdraw only. No loan or debt would be tolerated.

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April 06, 2017, 02:43:39 AM
 #1529

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.

Yes. You are the bank, the manager and the CEO. Who doesn't like that?
It would be more work if you want a bank. Calling them just for confirmation and other stuff that needed your attention.
Oh one more, the government could trace it, if you have stuffs that needs to be paid they will take it there without your consent.
That is how banks work with the officials. Is that cool? NO! That is stealing.

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April 06, 2017, 05:50:25 AM
 #1530

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.

Yes. You are the bank, the manager and the CEO. Who doesn't like that?
It would be more work if you want a bank. Calling them just for confirmation and other stuff that needed your attention.
Oh one more, the government could trace it, if you have stuffs that needs to be paid they will take it there without your consent.
That is how banks work with the officials. Is that cool? NO! That is stealing.
If you could prove that bank officials are corrupt I would agree with your statement, banks are operating based on the banking laws and that law was created to serve and protect the depositors. I do not think in any way that banks will steal as per your term but freeze in real term without any valid reason, I'm pretty sure they do that in compliance with the law and if one government agencies issues a freeze order against you and usually it's the AMLC.

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April 06, 2017, 06:49:30 AM
 #1531

This seems like a good idea, the bank will make transactions bitcoin better and more guarantees the future of the bitcoin. And the most important and can make the bitcoin is accepted as a legitimate means of payment.
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April 06, 2017, 06:55:25 AM
 #1532

I guess, Bitcoin bank is good as long as it is 100% DECENTRALIZED , 100% SECURED, but keeping PRIVATE , SECURE and CONFIDENTIAL just like XMR.
As like XMR we cannot have a decentralized system. XMR is quite low in capital compared to the bitcoin, when a banking service gets initiated with bitcoin as the value token it needs to get incorporated with fiat as well other digital tokens. This at time require KYC and loss anonymity causing to go under control of some authority.

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April 06, 2017, 07:16:00 AM
 #1533

I think if there is bank certainly will make bitcoin bitcoin position better and stronger so that it will increase the price and never make the price drop significant.
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April 06, 2017, 08:00:49 AM
 #1534

I guess, Bitcoin bank is good as long as it is 100% DECENTRALIZED , 100% SECURED, but keeping PRIVATE , SECURE and CONFIDENTIAL just like XMR.
If you say bank, it is a place where you put your money and they have the control of your money once you deposited it on the bank. Compare to the bank of fiat, they use our money to give loans and use it to invest for their company and also control the supply of the money. So i don't think that bitcoin will be decentralized once it gets a bank because the bank will take over the control if you already  deposited your money.
If bitcoin bank happen, the control is still not on the bank or the government either, but it would be still decentralized. If bitcoin banks happen, it woould just serves as an exchanger wherein the purpose isn't to loan but to save, deposit, , and withdraw only. No loan or debt would be tolerated

And how that would be different from what we already have by now?

What I refer to here are services that offer third party storage and exchange as well as processing transfers of bitcoins, i.e. web-wallets (before all), exchangers and exchanges? There are a few services that started to offer interest on the funds held in their accounts (e.g. freebitco.in faucet and Bter exchange). As to me, we could call Bitcoin banks our regular banks if they begin accepting bitcoins along with fiat to deposits and checking accounts. That would be a natural way of calling things

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April 06, 2017, 01:13:47 PM
 #1535

I think if there is bank certainly will make bitcoin bitcoin position better and stronger so that it will increase the price and never make the price drop significant.

It might. In a way, bitcoin getting accepted by the regular banks will have quite the same effect as bitcoin ETF. Bitcoin ETF is there for those people that want to invest in bitcoin but don't know have the knowledge to do so. With bitcoin banks, one can simply buy bitcoins and he'll know that the bank is protecting his coins. Although of course the safety is not guaranteed, people will use the bitcoin bank just because they don't know how to setup their own wallet.

That means that non-bitcoin users and non-tech savvy people will be encouraged to use bitcoins for the sake of having profits later on when the price increase.


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Machine Funk
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April 06, 2017, 05:34:56 PM
 #1536

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.

Yes exactly ! Thank you for replying. These people who talk of bitcoin banks don't know what they talking about at all. The very idea is laughable. Bitcoin = liberation.

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April 06, 2017, 05:38:25 PM
 #1537

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.

Yes exactly ! Thank you for replying. These people who talk of bitcoin banks don't know what they talking about at all. The very idea is laughable. Bitcoin = liberation.

True, each one can be his own bank, choose the best offers to invest and if there is any doubt each one can ask to other experienced persons who can help with wise advices. Bank for me means centralization and bitcoin wants to stay away from centralization, and we, bitcoin enthusiasts the same.

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MMA
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April 06, 2017, 10:32:07 PM
 #1538

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.

Yes exactly ! Thank you for replying. These people who talk of bitcoin banks don't know what they talking about at all. The very idea is laughable. Bitcoin = liberation.

True, each one can be his own bank, choose the best offers to invest and if there is any doubt each one can ask to other experienced persons who can help with wise advices. Bank for me means centralization and bitcoin wants to stay away from centralization, and we, bitcoin enthusiasts the same.
using online wallet we can say that we have our own bank. to me it is very easy to use online wallet any time and anywhere. it has make the process very easy to withdrawal the money so easily as compare to banking system.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

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Tyrantt
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April 06, 2017, 11:21:05 PM
 #1539

Why would you want the bank to store your coins when you can yourself. That's the point of bitcoin you are the bank.
That correct, we do not need a bank that is similar to banks in real world that accepts fiat, bitcoin is created to give us freedom as we are entitled with that. Bitcoin is the answer and it's not controlled by the government so we can do whatever we want without being watch and being restricted.
For me, it's the freedom that we are looking and with this freedom that we experience if we share with other people we will grow as a big community.

Yes exactly ! Thank you for replying. These people who talk of bitcoin banks don't know what they talking about at all. The very idea is laughable. Bitcoin = liberation.

True, each one can be his own bank, choose the best offers to invest and if there is any doubt each one can ask to other experienced persons who can help with wise advices. Bank for me means centralization and bitcoin wants to stay away from centralization, and we, bitcoin enthusiasts the same.
using online wallet we can say that we have our own bank. to me it is very easy to use online wallet any time and anywhere. it has make the process very easy to withdrawal the money so easily as compare to banking system.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

besides that, you don't have to pay monthly fees or high transaction fees or even wait for the transaction a lot longer that you would with bitcoin and those are just some of the arguments against the bitcoin bank, and also having a bitcoin bank would defeat the sole purpose of the bitcoin.

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oceanstorm67
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April 06, 2017, 11:28:55 PM
 #1540

bitcoin is kind of the opposite of the bank, it's a free and decentralized anonymous currency!
But ofcourse it's similar to a bank because you have a wallet and you can transfer money to others.
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