Do you agree with idea "Bitcoin bank" ?

[TreeOfDeath]

yess i totally agree with the idea that if there would be bitcoin bank ,it will be easy for bitcoin users for transaction.
So all country government should think about this idea.

[StarofBTC]

Once dealt with the real banks and their system, you will not want to trust anyone else. What will be different "bitcoin bank" from those that now is not clear. Perhaps the word "bank" is alarming, but still, the financiers are special people. Still, what currency they celebrate.

I don't know for sure what the intent of the bitcoin Bank. Because of that I know of that bitcoin is bank. But banks in the context of what I mean is a private bank, so we are the owner of any bank of any wallet btc that we have. Why should be discussing something that did not yet we can think properly, the better we do something things can indeed help our lives and also help someone who is need it

You are right. But people those who are not having enough options to buy and sell bitcoin more conveniently in their country, are still looking for a banking services which will be accepting their bitcoin deposits and also providing bitcoin withdrawal functionality.

I guess the demand for bitcoin bank will fade away when people are seeing bitcoin hits mainstream of adoptions in their local region.

[deisik]

Once dealt with the real banks and their system, you will not want to trust anyone else. What will be different "bitcoin bank" from those that now is not clear. Perhaps the word "bank" is alarming, but still, the financiers are special people. Still, what currency they celebrate.

I don't know for sure what the intent of the bitcoin Bank. Because of that I know of that bitcoin is bank. But banks in the context of what I mean is a private bank, so we are the owner of any bank of any wallet btc that we have. Why should be discussing something that did not yet we can think properly, the better we do something things can indeed help our lives and also help someone who is need it

You are right. But people those who are not having enough options to buy and sell bitcoin more conveniently in their country, are still looking for a banking services which will be accepting their bitcoin deposits and also providing bitcoin withdrawal functionality.

I guess the demand for bitcoin bank will fade away when people are seeing bitcoin hits mainstream of adoptions in their local region.

You seem to be confusing banks on one side with exchanges and web wallets on the other. The options of buying and selling bitcoins are made available through Bitcoin exchanges (and partially through web wallets). These are specifically established to facilitate the exchange of currencies (e.g. fiats to bitcoins and vice versa). Banks, on the other hand, tend to be primarily focused with lending and borrowing money...

Though many banks allow you to convert currencies too, but that's not their primary aim

[Hung_Daddy]

I just dont think that it would work to be honest

another currency in the future will probably set up a bank tho idk

[mogrith]

I use Coinbases Shift card so I but BTC and use the Visa card anywhere i want. If more of my bills accepted BTC I would set up monthly payments on coinbase. I'll close my 'normal' bank account if/when that happens.

My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.

do i want someone else handling my money? no! do i think someone else can handle my money faster/better? maybe faster, maybe better and even maybe safer, but i do not want to be looking for such a person, because they also have to be trustworthy.   

Let's remain realists

We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins

[Senor.Bla]

I use Coinbases Shift card so I but BTC and use the Visa card anywhere i want. If more of my bills accepted BTC I would set up monthly payments on coinbase. I'll close my 'normal' bank account if/when that happens.

My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.

do i want someone else handling my money? no! do i think someone else can handle my money faster/better? maybe faster, maybe better and even maybe safer, but i do not want to be looking for such a person, because they also have to be trustworthy.   

Let's remain realists

We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins

sorry, i do not understand you. you use coinbase to pay your bill if i understood this right and you habe your savings invested in an altcoin that earns you an interest rate of 5%?
for me the important question is: are you in charge of your money or do you depend on other people? can the take your money rightful/unrightful or cut you off?

[stomachgrowls]

People would surely not tend to put up their bitcoin on a bitcoin bank because they will surely prefer to use their own wallet and have the control on their money compare on putting up into a bitcoin bank which is something unusual thing to do snce there are lots of wallets out there to choose from and why we should need the use of banks.

[deisik]

People would surely not tend to put up their bitcoin on a bitcoin bank because they will surely prefer to use their own wallet and have the control on their money compare on putting up into a bitcoin bank which is something unusual thing to do snce there are lots of wallets out there to choose from and why we should need the use of banks.

You seem to be mistaken on this

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

[Kevin77]

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins.

People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.

If this type of trends persist, bitcoin banks will be inevitable.

[deisik]

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins.

People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.

If this type of trends persist, bitcoin banks will be inevitable.

They are not lazy overall

It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets

[Harlot]

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins.

People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.

If this type of trends persist, bitcoin banks will be inevitable.

They are not lazy overall

It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets

Bitcoin cannot definitely work in a banking system, for a fact that if they do accept Bitcoin, they won't have any use to it. One way on how the banks earn money is by loaning your money. Do you think a person that goes to a bank will request for a loan of a heft amount of Bitcoin? I guessed not because they will have a hard time finding people who will accept that kind of currency.

[Bitcoinsummoner]

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins.

People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.

If this type of trends persist, bitcoin banks will be inevitable.

They are not lazy overall

It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets

Bitcoin cannot definitely work in a banking system, for a fact that if they do accept Bitcoin, they won't have any use to it. One way on how the banks earn money is by loaning your money. Do you think a person that goes to a bank will request for a loan of a heft amount of Bitcoin? I guessed not because they will have a hard time finding people who will accept that kind of currency.

I agree with you those banks are just earnings to give loan with interest.. that is why we have banks and they are living long with this business.. and i think banks here in my country have business partner like money transfer online they are just asking for additional fees for every transaction .. bitcoin is different with this system.. because we can use banks and atm without internet.. also the advantage of banks we can also use it online bankings..

[lakisis]

i think bitcoin bank is very important for the success and popularity of bitcoin, if bitcoin become in physical shape then bitcoin bank is good idea for bitcoin and i am sure that bitcoin will soon become in physical and then we can be use our bitcoin in local shops .

[deisik]

They are not lazy overall

It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets

Bitcoin cannot definitely work in a banking system, for a fact that if they do accept Bitcoin, they won't have any use to it. One way on how the banks earn money is by loaning your money. Do you think a person that goes to a bank will request for a loan of a heft amount of Bitcoin? I guessed not because they will have a hard time finding people who will accept that kind of currency.

There is not a single reason why Bitcoin couldn't work in a banking system

Indeed, you can always say that while there are no Bitcoin banks around, we can't make any definitive conclusion, but the truth is we don't need genuine Bitcoin banks to prove your point wrong. Asserting that Bitcoin cannot work in a banking system is essentially equal to claiming that gold cannot work in a banking system either. But latter claim would be obviously false since in the 19th century a lot of banks had been using gold in pretty much the same way as they might have been using Bitcoin today. You may want to read more about so-called Free Banking Era

[mogrith]

I use Coinbases Shift card so I but BTC and use the Visa card anywhere i want. If more of my bills accepted BTC I would set up monthly payments on coinbase. I'll close my 'normal' bank account if/when that happens.

My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.

do i want someone else handling my money? no! do i think someone else can handle my money faster/better? maybe faster, maybe better and even maybe safer, but i do not want to be looking for such a person, because they also have to be trustworthy.   

Let's remain realists

We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins

sorry, i do not understand you. you use coinbase to pay your bill if i understood this right and you habe your savings invested in an altcoin that earns you an interest rate of 5%?
for me the important question is: are you in charge of your money or do you depend on other people? can the take your money rightful/unrightful or cut you off?

I can't pay all bills yet. from coinbase.
The altcoins are in my local wallet doing POS Proof of stake. It's kind of like mining. My Balance grows ~5% a year.  No central server to steal from. Of course the coin could become worthless but so can USD. Also this some savings not my life savings or retirement account. some risk but good reward also.

[vasrasus]

Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust

On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins.

People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.

If this type of trends persist, bitcoin banks will be inevitable.

They are not lazy overall

It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets

Bitcoin cannot definitely work in a banking system, for a fact that if they do accept Bitcoin, they won't have any use to it. One way on how the banks earn money is by loaning your money. Do you think a person that goes to a bank will request for a loan of a heft amount of Bitcoin? I guessed not because they will have a hard time finding people who will accept that kind of currency.

I don't think also that there is a need for physical bank. Wallets alone can do what banks can do. There will be no use for banks other than the transmitting and cashing out of btc.

[ufaiz50]

i think bitcoin bank is very important for the success and popularity of bitcoin, if bitcoin become in physical shape then bitcoin bank is good idea for bitcoin and i am sure that bitcoin will soon become in physical and then we can be use our bitcoin in local shops .

it could happen if the government recognize bitcoin as a currency and if bitcoin become in physica shape maybe there will be a tax on bitcoin, and the possibility of bitcoin can be used in very small local store

[angaper]

Actually the old banking schemes has become obsolete, and the bitcoin ecosystem by itself has the enough capability to replace it, that is why I think it seems a contradictory idea trying to unite the old system with the revolutionary concept of bitcoin. On the contrary, banks tend to emulate the great advantages of the blockchain.

[deisik]

Actually the old banking schemes has become obsolete, and the bitcoin ecosystem by itself has the enough capability to replace it, that is why I think it seems a contradictory idea trying to unite the old system with the revolutionary concept of bitcoin. On the contrary, banks tend to emulate the great advantages of the blockchain.

I wouldn't completely write off the idea of Bitcoin banks

Despite being old and somewhat old-fashioned, banks are quite adaptive, and, as I said ealier in the thread, there are no particular issues with banks offering Bitcoin services, including but not limited to accepting bitcoins on deposits and lending them out. But that's not all. Since people tend to trust banks on the whole, Bitcoin banks would add greatly to Bitcoin popularity and adoption. That's why such banks might be quite useful to Bitcoin after all

[BrewMaster]

People would surely not tend to put up their bitcoin on a bitcoin bank because they will surely prefer to use their own wallet and have the control on their money compare on putting up into a bitcoin bank which is something unusual thing to do snce there are lots of wallets out there to choose from and why we should need the use of banks.

that is right about people who are familiar with bitcoin right now and have made themselves a wallet and also know how to make it secure enough.

but those people who are new and want to start using bitcoin surely prefer a bank, somewhere that is already familiar for them because they have been using them for their whole life.