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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 139020 times)
Canday
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October 20, 2017, 01:37:04 AM
 #2421

Properly, if they are generating an interest that is secure, confident. I indicate, the purpose why a whole lot of people will not see bitcoin as a great investment decision is because it doesn't generate fascination, and there aren't really any regulated bitcoin banking companies.Nevertheless, if you are storing your bitcoins at a bitcoin lender without curiosity then what's the stage? Just keep on to your non-public key and you will be good.
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October 20, 2017, 01:39:15 AM
 #2422

I also disagree with that crazy idea , what guarantee does the bank offer for security ? it is difficult to be realized because of the decentitization of Bitcoin.
although Bitcoin transactions are Transparent but it is still difficult to trace who owns them.
Tracing isn't so much the problem. But if the bank "loses" access to the coins there will be nobody to bail the people out and the money will be lost. So it's better to store the coins yourself.
Like any other Bank they can control our money. And if Bank Bitcoin is there it means BTC also they can be controlled and store data wallet like Private key. I do not think it will be safe there.
It's the same with exchanges though. But in either case, I don't see any merit of keeping Bitcoins in a bank. Unless it's a Trezor or Ledger that you keep in a bank safe... then maybe.

I think people have proven too stupid in some cases to handle the responsibility of handling their own private key. I think there is market demand for a person to have "peace of mind" by locking it up in multi-signature wallets in physical underground locations, for a premium of course.
True... I wonder how many coins have been permanently lost so far.

Ranly123
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October 20, 2017, 01:43:11 AM
 #2423

I think having bitcoin is also having a bank with a currency using bitcoin. Example of the bank i mention is your wallet, since it work like a bank that can be transacted anywhere and everywhere.

Barbarian
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October 20, 2017, 02:33:50 AM
 #2424

No.
Bitcoin/Crypto Currency is freedom. We must not go back. We must go forward!
 
Not only it will be a step backwards it could steal from us the last opportunity to change the system, after bitcoin then what can be possible invented that can be better than what we have, it is very difficult to imagine something better than bitcoin so the hegemony of banks will continue uninterrupted for a long time if we let that happen.

The opportunity to centralise and control emission of cryptocurrency is already lost for banks. I don't think a bank will seriously give a try. But banking services is not about 'centralise, control and make evil' only. It's more about the low fees and high speed of transactions, it's big infrastructure that exists already and almost ready to work with cryptocurrencies.
I will not underestimate them they found a way to centralize the emission of gold coins even if anyone can create gold coins, so I’m sure they are trying to find a way to play the same trick on bitcoin, maybe that will not work right now, but when most people adopt bitcoin they may succeed since the average person does not know anything about the history about money.

Bacotan Bae
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October 20, 2017, 03:11:17 AM
 #2425

I think having bitcoin is also having a bank with a currency using bitcoin. Example of the bank i mention is your wallet, since it work like a bank that can be transacted anywhere and everywhere.

I think it different, if we use the services of the bank then it is the same with the services of many third party rules, now the wallet is not much rules so in a matter of minutes we can open the wallet and is actively used.

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SmartMesh
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October 20, 2017, 06:09:51 AM
 #2426

There are multiple ways people can store bitcoins offline, using either a paper wallet or hardware options from companies like Trezor, Opendime, Ledger, and Keepkey.
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October 20, 2017, 08:48:39 AM
 #2427

Bitcoin is not fiat currency that needs a physical place to store the currency. Bitcoin is a digital currency so it does not need to be operated by any bank.

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October 20, 2017, 09:57:41 AM
 #2428

Bitcoin is not fiat currency that needs a physical place to store the currency. Bitcoin is a digital currency so it does not need to be operated by any bank.
Fiat currency doesn't need a physical space either. In fact, most of fiat money only exists digitally.

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October 20, 2017, 10:50:40 AM
 #2429

I don't get the point of having Bitcoin Bank in cryptocurrency. I am not in favor of this kind of idea.  What i most like about BTC is for being decentralized.

In my opinion, having bitcoin bank may let BTC become centralized because a new party may control our BTC.
I don’t think so because in some cases it need to have ‘bitcoin bank” but in some cases it doesn’t need any bank etc because in bitcoin there are a lot of things happened everyday and also the main point is price of bitcoin which is not stable and change in every moment so that’s why I prefer that it doesn’t need to have bitcoin bank because now the speed of popularity of bitcoin is also fine and if it go like that then future of bitcoin will be good.
sana gull
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October 20, 2017, 10:51:51 AM
 #2430

There are multiple ways people can store bitcoins offline, using either a paper wallet or hardware options from companies like Trezor, Opendime, Ledger, and Keepkey.
You know bitcoin is a currency and a digital currency so if it is a currency then it must need a bank to securer and help people to invest in bitcoin easy but also to the popularity and spreading of bitcoin all over the world don’t need any bank etc because as we see bitcoin become more popular without having any help.

Redanim
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October 22, 2017, 02:44:01 PM
 #2431

It would be very nice if bitcoin made their bank, because it would be legal and would be official, no need to pay big fees, anytime you can go or call in bank to ask something, income will be increased in several times and demand also.
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October 22, 2017, 04:45:01 PM
 #2432

This seems awesome proposal. How long time ago no one does that?
It's a terrible proposal and goes against the core values of crypto.

Mike | Crypterium
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October 23, 2017, 03:06:19 AM
 #2433

This seems awesome proposal. How long time ago no one does that?
It's a terrible proposal and goes against the core values of crypto.

What are the core values of crypto and what do you understand under the "cryptobank" term?
Bourbon44
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October 23, 2017, 03:13:33 AM
 #2434

this is antithetical  to what bitcoin stands/meant for. it's interesting, but i think it would bring us back to square one. having a bank would mean someone is in power.
Mike | Crypterium
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October 23, 2017, 03:23:38 AM
 #2435

this is antithetical  to what bitcoin stands/meant for. it's interesting, but i think it would bring us back to square one. having a bank would mean someone is in power.

Bank, in terms of crypto, doesn't mean that someone would actually posses your currency
JokoBona
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October 23, 2017, 03:32:36 AM
 #2436

I disagree, because if there is a bitcoin bank it is no different from fiat currrency, and we do not have full control over the bitcoin we have
Argoo
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October 23, 2017, 03:49:53 AM
 #2437

Bitcoin, like the other crypto currency, does not need banks to store these assets there. It's even a stupid idea. The most reliable bank for storage is cold storage in a digital purse. And the very meaning of such a bank is incomprehensible. This, in fact, should be a room with servers for storing information. I personally do not see the point in this.

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October 23, 2017, 03:59:40 AM
 #2438

I actually use Chase as my "Bitcoin Bank". I have an envelope containing a cold storage private key printed on paper and a USB containing an encrypted wallet.dat which I have placed in a Chase safety deposit box. I had to recently visit Chase to move the coins to a new address for replay protection purposes.
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October 23, 2017, 04:17:31 AM
 #2439

I think this is a very good idea, with bitcoin and bank together it will make a big change in the global transaction system so it will make things easier. I hope this soon gets realized faster so it will make a big change.



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Jombrangs
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October 23, 2017, 04:21:46 AM
 #2440

for my own opinion i am agree on the idea to have the bitcoin bank. for us to know how many bitcoins do we possess and i also agree with this kind of idea for our bitcoins to be safe however it has a disadvantage which is i think the lager fees.

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