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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 139579 times)
mehdiktflow
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January 10, 2017, 05:54:16 AM
 #961

looool this is impossible  Grin Grin Cheesy Cheesy Cheesy
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danherbias07
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January 10, 2017, 06:27:20 AM
 #962

looool this is impossible  Grin Grin Cheesy Cheesy Cheesy

Yes. They will just create their own instead of leaning on something that is not theirs. That is how bank owners think. It is all about the money and holding the customers not giving them freedom.

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January 10, 2017, 07:37:45 AM
 #963

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.

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January 10, 2017, 07:58:07 AM
 #964

I dont see the real need of such bitcoin bank at all, whats the purpose let the coins safe? Trust into a third companie to store your bitcoins? To get extra interest montly or year? Anyway i do know we do use web wallets, and wallets made for a third company, but they havent control over the coins, something a bank would get, i like the freedom that i do have now and there is no way to such thing happen and make me change my mind.
I agree with your point that online wallets are working like banks for bitcoin and with them we often feel insecurity and prefer desktop wallets and consider the desktop wallets as more secure so not any more banks like them we need we are happy to have our coins with us.

Desktop clients are indeed the better option as you have full control over every aspect of your coins, but that's assuming you run on a clean cumputer with the required security measures. It's not that when you make use of a desktop client that you automatically enjoy a high level of security. It's as safe as you want it to be. That's why it's important to secure all your wallet files with lengthy passphrases. On top of that you can add an extra layer of protection by encrypting your wallet files

That would really add nothing to security

Your private key is still held in memory unencrypted for some time (I don't even mention keyloggers), so if your computer gets compromised, most likely you can kiss your coins good-bye. Even if you run Linux in an unprivileged environment, there are exploits that allow the attacker to get root access (if you use unpatched kernel). Once I did that myself on my own Linux box for test purposes. I found an exploit for my version of kernel, it was just a few lines of bash code, and voila, I got root access from an unprivileged account. And with root access (administrative access in case of Windows) you can do pretty much anything (e.g. read any segment of memory)

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January 10, 2017, 08:00:22 AM
 #965

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.

I think it's unlikely to happen, because bitcoin itself  decentralized and become centralized make bitcoin not "bitcoin" anymore. But if the bank could adopt a bitcoin without change the nature of decentralization then I think it could attract the attention of some people. Moreover, as I have said in previous comments, if the bitcoin bank can be more profitable. So I think people can keep their money in bitcoin bank's. Thank you
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January 10, 2017, 09:31:33 AM
 #966

I agree with idea bitcoin bank, because with the bank we can use bitcoin as legal currency in the countries, and also with bitcoin bank more make us trust because the price is stable.
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January 10, 2017, 09:58:59 AM
 #967

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.

How do you know that? Average people either don't care about Bitcoin altogether or just don't know what it is in the first place

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.

I think it's unlikely to happen, because bitcoin itself  decentralized and become centralized make bitcoin not "bitcoin" anymore. But if the bank could adopt a bitcoin without change the nature of decentralization then I think it could attract the attention of some people. Moreover, as I have said in previous comments, if the bitcoin bank can be more profitable. So I think people can keep their money in bitcoin bank's. Thank you

Bitcoin decentralization refers mainly to how new bitcoins are issued by miners and Bitcoin transactions are confirmed in a decentralized manner by the Bitcoin network. That's what makes Bitcoin what it is, and no Bitcoin bank will ever change that. Did web wallets change anything in this respect? In fact, Bitcoin has already got heavily centralized at least in two aspects, but neither Bitcoin banks nor web wallets are involved in that. I refer to mining power accumulated by the Chinese miners and trading volume operated by the Chinese exchanges...

It seems that you meant to say that Bitcoin banks could pile up too many bitcoins but that's unlikely

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January 10, 2017, 10:26:29 AM
 #968

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.
nope I think every user has freedom over what they choose and, if you choose not to use bitcoin bank and choose a wallet, it is okay, because you're free to choose anything dude

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January 10, 2017, 12:21:06 PM
 #969

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.
Yes true, I also do not agree to the existence of the bitcoin bank, with the bitcoin bank certainly will be many rules so that the use of the bitcoin will depend from the bank. We all know, to open an account in the bank required personal data that issued by the country so that it will be the same as conventional bank.
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January 10, 2017, 12:38:12 PM
 #970

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.
Yes true, I also do not agree to the existence of the bitcoin bank, with the bitcoin bank certainly will be many rules so that the use of the bitcoin will depend from the bank. We all know, to open an account in the bank required personal data that issued by the country so that it will be the same as conventional bank.
Let's assume a Bitcoin bank will pop up, there will be plenty of people willing to take distance from every decentralized aspect that Bitcoin offers them.

All because they think it's secure and that it will allow them to earn interest over their coins where I think the latter aspect plays the biggest role here.

Reading through this thread it's really mind boggling how easy people are convinced to have their coins stored elsewhere just for a tiny bit of interest after a full year.

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January 10, 2017, 12:41:45 PM
 #971

looool this is impossible  Grin Grin Cheesy Cheesy Cheesy

Yes. They will just create their own instead of leaning on something that is not theirs. That is how bank owners think. It is all about the money and holding the customers not giving them freedom.
]it is not a benchmark freedom. will be a lot of advantages that we can get. we will not fear losing bitcoin we have. of course, if the institution has been recognized by the financial authorities of a country.



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January 10, 2017, 12:45:44 PM
 #972

It's  a worthless Idea..
You can store bitcoin in any online wallet and it will rise or fall..
There is no need of any btc bank,
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January 10, 2017, 12:52:00 PM
 #973

absolutely no. we dont need bitcoin bank because we already our bitcoin wallets. bitcoin wallet is secured and trusted. there are a lot of bitcoin wallets that also serves as our bank. we can also call our bitcoin wallets as bitcoin bank as they both holds and secures our bitcoins. as long as we are secured to our current bitcoin holder we have nothing to worry about creating a more secured holder

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January 10, 2017, 01:13:40 PM
 #974

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.
Yes true, I also do not agree to the existence of the bitcoin bank, with the bitcoin bank certainly will be many rules so that the use of the bitcoin will depend from the bank. We all know, to open an account in the bank required personal data that issued by the country so that it will be the same as conventional bank.
Let's assume a Bitcoin bank will pop up, there will be plenty of people willing to take distance from every decentralized aspect that Bitcoin offers them.

All because they think it's secure and that it will allow them to earn interest over their coins where I think the latter aspect plays the biggest role here.

Reading through this thread it's really mind boggling how easy people are convinced to have their coins stored elsewhere just for a tiny bit of interest after a full year.

You don't even consider how many people are willing to store their coins elsewhere just for the free of charge transactions and basic security even if they don't get any interest at all. But, as the proverb goes, a penny saved is a penny gained, so the amount saved on such transactions can well be thought of as kind of interest. Though I don't think that all these people using web wallets (here I refer to them obviously) are somehow convinced in the sense you mean it...

Since if you have to transact often with relatively small amounts, that may be your only viable option

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January 10, 2017, 01:26:46 PM
 #975

almost average of peopl not agree if bitcoin have a bank,bitcoin bank will kill bitcoin in my opinion,and its will make people stop using bitcoin because bitcoin no more decentralized.
Bank owner will never do this why? First thing is bitcoin has unstable price where people might confuse what bitcoin is . People will keep asking question on the bank owners and support if your just stocking your bitcoin then much better to use web wallets its same your just trying to be difficult on your self if you uses banks. Yes im agree with your banks can kill bitcoin in the future.

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January 10, 2017, 01:32:27 PM
 #976

I think that we do not need it and I also think its impossible, the fact is also that it will be more central and controlling it by yourself will never be the same again.
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January 10, 2017, 01:40:01 PM
 #977

I think that we do not need it and I also think its impossible, the fact is also that it will be more central and controlling it by yourself will never be the same again.

It depends on how you are going to see it. For me, it can be good and it can be bad. It can be good because it means that bitcoin is being recognize by bigger establishments such as banks but it is bad, because that is the time that the freedom of bitcoin will be gone. And that's why we are into bitcoin to avoid paying taxes.



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January 10, 2017, 01:55:14 PM
 #978

You don't even consider how many people are willing to store their coins elsewhere just for the free of charge transactions and basic security even if they don't get any interest at all. But, as the proverb goes, a penny saved is a penny gained, so the amount saved on such transactions can well be thought as kind of interest. Though I don't think that all these people using web wallets (here I refer to them obviously) are somehow convinced in the sense you mean it...

Since if you have to transact often with relatively small amounts, that maybe your only viable option
If that's really the case, then certain people are even more pathetic than I was initially thinking.

Look at it how you want, saving on a few thousand satoshis worth of transaction fees is just peanuts. In no way can that be considered whatever form of interest.

But maybe I am not yet fully aware of how stingy/ignorant certain people can really be. Nothing comes free in this world, so even these "free" transaction costs have to be paid in one way or another.

basesaw
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January 10, 2017, 01:55:59 PM
 #979

I think that we do not need it and I also think its impossible, the fact is also that it will be more central and controlling it by yourself will never be the same again.

yeah this is true. it is more easier to control your bitcoin if you just use your bitcoin in your wallet. making banks for it needs a little effort just to get or deposit or something. we just need to choose a trusted bitcoin holder for our bitcoin to be secured.

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Zadicar
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January 10, 2017, 02:01:46 PM
 #980

I think that we do not need it and I also think its impossible, the fact is also that it will be more central and controlling it by yourself will never be the same again.

yeah this is true. it is more easier to control your bitcoin if you just use your bitcoin in your wallet. making banks for it needs a little effort just to get or deposit or something. we just need to choose a trusted bitcoin holder for our bitcoin to be secured.
why would bother on seeking for someone to hold on our bitcoin since we could able to do it on our own.Bitcoin banks are just useless and giving out or entrusting to them our bitcoins isnt what i like and i would rather choose to store my bitcoin on my own bitcoin wallet becuase i do have the full control and security of it.

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