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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 141607 times)
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October 25, 2016, 09:13:09 AM
 #201

I also think that it's not a good idea because bitcoin is anonymous and decentralized and you will be denying the concept of bitcoin itself if you will establish bitcoin banks. And the thing that I also love about bitcoin than banks is, There is no any strict rules and regulation.

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October 25, 2016, 04:16:47 PM
 #202

I dont want to see a bitcoin bank becase i know for srue that when i am putting my bitcoins on that bnank that they are stealing money of me becuase they want to let
me pay for my bitcoins also for my money.
Correct, just look at the exchanges, they charge you fees which was one of the reasons was created in order to avoid fees and when we take into account the fact that a bitcoin bank will be able to freeze your funds.

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October 25, 2016, 04:35:57 PM
 #203

I also think that it's not a good idea because bitcoin is anonymous and decentralized and you will be denying the concept of bitcoin itself if you will establish bitcoin banks. And the thing that I also love about bitcoin than banks is, There is no any strict rules and regulation.

Just ask people why exactly they would like to see a Bitcoin bank. I think more than 90% will answer with that they then receive interest over their coins. If that's their only reason, then it's a real silly one. Nearly everything people care about here is profit. Even when risks are too high. Greed is taking over.

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October 25, 2016, 04:53:08 PM
 #204

I don't agree on any such idea which will take us again towards centralization where our wealth will be in control of any institution. There are so many ways to get interest or invest money in but Bitcoin offers unique features and options. I will keep using Bitcoin freely without putting them in hands of such banks just to get little profit.
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October 25, 2016, 05:37:01 PM
 #205

I don't agree on any such idea which will take us again towards centralization where our wealth will be in control of any institution. There are so many ways to get interest or invest money in but Bitcoin offers unique features and options. I will keep using Bitcoin freely without putting them in hands of such banks just to get little profit.

The bitcoin bank is not a centralisation. There will thousands of banks, that mean each can be a full node. No centralisation.

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October 25, 2016, 07:23:23 PM
 #206

Bitcoin bank possibly solved many problems, but you first need to become a legitimate bitcoin, otherwise nothing happens. Only if global financial market recognizes the bitcoin currency, then we can say the issue is resolved.
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October 25, 2016, 07:43:41 PM
 #207

In one sense it would be good because having bitcoin bank will make the coin popular and some other guy would start using it. But in one sense it would be bad because having bitcoin bank will make the network untrustworthy because bitcoin is decentralized and automated but bank will make it insecure but if they make it automated then it would be welcoming.
of course decentralization of bitcoin will be lost or dissapear when you use the banking system to save your bitcoin in bitcoin bank because bitcoin bank will ask for personal data of yours to be recorded in the bank system. for the trust may be safe, but of course your privacy will be exposed right ?

I could imagine a "Bitcoin bank" being more private. For example, in exchange for bitcoin deposits, a bank could give out Chaumian cash (blind signatures). This Chaumian cash could be spent in an untraceable way, with the bank verifying the "cash" is authentic and unspent. Eventually someone could redeem the cash with the bank to obtain bitcoins again.

I'm sure this would be counter to KYC/AML laws, so it would be almost certainly be an "illegal" business. The trouble would be running such an illegal bank without being known (to avoid legal issues) and while still being reasonably trusted. It's hard to imagine, but many people still use btc-e. Last I heard no one knows who runs it.
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October 25, 2016, 08:19:45 PM
 #208

Bitcoin and bank is two banks that dont go well together. bank is centralized. btc = decentralized

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October 25, 2016, 08:34:31 PM
 #209

Bitcoin and bank is two banks that dont go well together. bank is centralized. btc = decentralized
Then what about public financial institutions of some countries are trying to take root blokchain experience and recognize bitcoin as a real currency.
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October 25, 2016, 08:50:30 PM
 #210

I also think that it's not a good idea because bitcoin is anonymous and decentralized and you will be denying the concept of bitcoin itself if you will establish bitcoin banks. And the thing that I also love about bitcoin than banks is, There is no any strict rules and regulation.
I think the banks will not disrupt the decentralized system of bitcoin and will not interrupt its anonymity and if they will require our identity then it will be the same as the exchanges and some wallets are doing and the rules are still there in online wallets and exchanges but the only problem which will appear to us will be that we will then pay a high fees of transactions to the banks which they will charge from themselves.

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October 25, 2016, 09:37:58 PM
 #211

I also think that it's not a good idea because bitcoin is anonymous and decentralized and you will be denying the concept of bitcoin itself if you will establish bitcoin banks. And the thing that I also love about bitcoin than banks is, There is no any strict rules and regulation.
I think the banks will not disrupt the decentralized system of bitcoin and will not interrupt its anonymity and if they will require our identity then it will be the same as the exchanges and some wallets are doing and the rules are still there in online wallets and exchanges but the only problem which will appear to us will be that we will then pay a high fees of transactions to the banks which they will charge from themselves.
Bitcoin course cope with great difficulties, but only if they will not create artificially. Real banks, which have been around for hundreds of years, when they feel a threat to do unpleasant things to cryptocurrency.
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October 25, 2016, 09:50:49 PM
 #212

I also think that it's not a good idea because bitcoin is anonymous and decentralized and you will be denying the concept of bitcoin itself if you will establish bitcoin banks. And the thing that I also love about bitcoin than banks is, There is no any strict rules and regulation.
I think it's for the bitcoin bank is not a problem because no one requires you to use bitcoin bank. people are free to use it or not. but the fact that the bank could give profit to you in addition to safely store your bitcoin, you do not need to invest, you just need to keep it in the bank and make a profit, when the price rises you could sell it also


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October 25, 2016, 10:30:09 PM
 #213

If we consider that the same bitcoin currency like any other and is the medium of exchange for goods, then why not create a bank of bitcoin. Perhaps it would create real conditions for the promotion of bitcoin.
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October 25, 2016, 10:36:39 PM
 #214

I strongly agree . because with the bitcoin BANK will make bitcoin market becomes more reliable. more and more investors entering. This can make it bitcoin be increased.
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October 25, 2016, 10:50:54 PM
 #215

I strongly agree . because with the bitcoin BANK will make bitcoin market becomes more reliable. more and more investors entering. This can make it bitcoin be increased.

So why not you use another fiat currency?

Isn't because it have a bank controlling that will increase the marketcap...
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October 25, 2016, 11:07:21 PM
 #216

I strongly agree . because with the bitcoin BANK will make bitcoin market becomes more reliable. more and more investors entering. This can make it bitcoin be increased.

That's just nonsense. If you start up a Bitcoin bank, then it's just the name that says it's a bank, while in reality it's just a service that is similar to what blockchain.info is offering. You can store your coins there, use their service to send and receive Bitcoins, etc. Perhaps that as extra feature you can ask for loans, or as bonus receive a certain amount of interest on your coins. But this interest has to come from somewhere. In this case it's the same as regular banks. They will use/invest your coins/money to generate a certain amount of profit where you get your promised interest rate, and they keep the profits. Believe me, this will only attract rookies. People with a normal understanding of what's happening will avoid it at all cost.

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October 26, 2016, 02:57:12 AM
 #217

I like coinbase and having a little coin in there, linked to a shift card.
BUT
in general I don't like storing anything of value with a 2nd or 3rd party.
Places that offer to sell you precious metals and store them "for you", our US banks are insured (to some degree).
So that being said: I'd would prefer to control most of my coin.
Bitcoin is much easier than cash or "real" goods to transport and secure.

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October 26, 2016, 07:29:12 AM
 #218

If  bitcoin bank would  be   controlled  by the government then its a big NO for me  hence  building   a  bank to a particular country would really need   governments approval and for sure   they would  not  like  to let this thing to happen  because  bitcoin can be controlled  by anyone   and   government  really dont  like that  on  bitcoin and for sure  those bitcoin  banks  would not  be  there at all and  if   there would be a  bank your coins would be  already  controlled and you are   being  identified.







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sambaevida
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October 26, 2016, 08:14:37 AM
 #219

I think that the existence of a btc bank (and by bank I mean a traditional one, the one we're used to) would be an oxymoron, since one of the main advantage of btc is being a decentralised currency that doesn't need a mediator. if the concept of bank changed radically in the future, maybe we could have a btc bank.
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October 26, 2016, 09:01:24 AM
 #220

I also think that a btc bank would turn btc into a non-reliable currency.
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