Do you agree with idea "Bitcoin bank" ?

[ABCbits]

Recently, i often see discussion about Bitcoin Bank. More and more people come here and ask about bitcoin bank & surprisingly i see few user agree with this idea.
So, i would like to find out the percentage of user who agreed with this idea.

Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card OR any centralized service which only ask name and email address.

[pedrog]

Recently, i often see discussion about Bitcoin Bank. More and more people come here and ask about bitcoin bank & surprisingly i see few user agree with this idea.
So, i would like to find out the percentage of user who agreed with this idea.

Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.

Xapo, Coinbase and Circle, they are all "bitcoin banks", if someone doesn't like them, they don't have to use them...

[iv4n]

Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?

[clickerz]

Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?

Same sentiments here. What "bitcoin bank" really do? We will deposits our bitcoin to him? If that happens,the real essence of bitcoin will be lost I think. People wants to hold or store their bitcoin,where they can spend anytime.

[amacar2]

I completely disagree the idea of bitcoin bank i think we don't need it as bitcoin is meant to remain decentralized always and the idea of bank is to centralize bitcoin. Even some regulated web wallets like coinbase, xapo practice same restrictions like normal banks with lots of account lock down and KYC policies which is completely against what bitcoin was developed for.

[isen]

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.

[bitbunnny]

I think that we don't need to discard this idea at start. Of course that Bitcoin users have negative opinion when banks are mentioned because they probably think on traditional banking system that Bitcoin is total oposite to. I feel that too. But for Bitcoin bank we can use the best banking features and discard all the worst. I'm not saying that I'm 100% for Bitcoin bank but I'd like to say that this idea maybe could be more developed and adjusted to the Bitcoin.

[franky1]

exchanges and payment services are already deemed as banks
even escrows and other services that use multisig are treated as temporary banks.

the problem is that if you put your funds into other peoples private keys where they have sole access to the keys and you left with having to make "requests" to get funds out. you are at the reliance of that service.
(the coins no longer belong to you. only a IOU balance they allow you to have with a pretence that its convertible)

ofcourse full deposit exchanges and services using multisig have a place at the fringes of bitcoin. but we should never become reliant on such things. or tweak bitcoin to only function in such a manner.

[~Bitcoin~]

- coinbase, xapo like wallets are just like bitcoin banks (centralized one) having all acccess to your bitcoins.

- paper wallets, electrum , hardware wallets can still be considered as real bitcoin wallet.

So we already have existing bitcoin banks and also lots of cases of account getting locked, frozen by them just like in other banks and who like to get this situation while using bitcoin, so no we don't need any bitcoin banks.

[BingoDog]

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.

[Mastsetad]

If a bitcoin bank is supposed to be like a fiat bank where you give your bitcoins to someone who knows everything about you as you will not be able to do that without giving your valid information, then Not at all, because then there would be no difference between fiat and bitcoin.

[wxa7115]

While an official bitcoin bank has not emerged some de facto banks already exist Coinbase, Xapo, etc. and in my opinion a bitcoin bank runs against everything that bitcoin is and should be so I voted no in the poll.

[OmegaStarScream]

It's simply impossible , "Bitcoin bank" defeats the whole purpose of using Bitcoin in the first place. Banks wants to take control over customers accounts (including the fees and interest rates) and freeze them whenever they feel like it while Bitcoin is totally the opposite.
Services that control your private keys could be considered as Bitcoin banks as well and shouldn't be used (this apply for both debit card services and "wallets/exchanges")

[jak3]

no i do not i think bitcoin banks will bring so much of lazyness and more than that curroption in the network i really hate how banks work and i also hate that some bitcoin wallets like xapo and zebpay wallets have adapted those techniques to run their busnesses i havmte them but i know by this single technique banks have ruled more than 500years on every country

[vino.gcs]

After all, crypto currencies, especially Bitcoin is highly decentralized to have your own bank. Well, we call it hardware wallet. People are using online wallets like coinbase because they're too lazy to have their own hardware wallets. Otherwise, I'm not favourable to centralize the crypto currency.

[Dudeperfect]

Yes, I agree with the idea of bitcoin bank as far as all core features of bitcoin are not going to affect. Bank is such an institution which facilitates the flow of funds on larger level and in organized manner so I think bitcoin bank would push the potential of bitcoin on next level everything work out in right manner. It will make the bitcoin more productive and accessible to everyone in organized manner. I support the idea of bitcoin bank.

[Wendigo]

Bitcoin is too volatile in price to be used in a traditional banking institution. A loan valued at $100 could be worth $85 tomorrow morning or $125 the day after. Also there is a difference in how a bank and an exchange function and it's like comparing apples to oranges here. If banks issue Bitcoin debit and credit cards tied to the daily value it could work, but issuing coins outright not so much because there will be no control over the value in the future.

[erikalui]

I would prefer using a bitcoin bank just like I use coinbase and Xapo and my other offline banks. But if it restricts my use of bitcoins and keeps asking for information about my transactions, I wouldn't prefer that as my banks too never demand such information. Also, I don't see anything wrong in a bitcoin bank if it pays interest for holding coins just like other banks. It would be beneficial for those who just hold coins and don't want to spend them.

[jtalk]

I don't agree on idea of Bitcoin bank because it is against the nature and fundamental idea on what Bitcoin is working and was invented. Bitcoin is sign of freedom and decentralization where as any type of banking idea means again centralization and tough rules and regulations just like traditional ways. I will not use such services as long as will be possible to avoid them.

[MinerHQ]

Bitcoin Bank the idea is good, but this plan will not work out. If you want work out, this idea means the first thing you need that your government will accept Bitcoin as a legal currency. First, solve this problem after words we can discuss Bitcoin Bank. Till that, this is a unnesssory discussion.