Do you agree with idea "Bitcoin bank" ?

[deisik]

There are already exchanges and wallets doing exactly that

The advantage of the banks, though, is that you could open two accounts, one for fiat and another for bitcoins, and then you wouldn't need to send fiat to an exchange to buy a few coins paying hefty commissions. In this way, the usefulness of banks consists in closing, or at least minimizing the gap between fiat and Bitcoin. It is almost a given that a lot of people would turn away from exchanges and web wallets to banks, especially long-term investors that don't need to buy and sell bitcoins daily

Bitcoin banks already exist in some countries. But they are in themselves the same freedom that was dignity bitcoin. I'm afraid that was not worse.

Could you name these countries?

There are already quite a few places you can get a Debit card that yo pay in BTC but can use as USD EUR etc. It would be nice if someone offered a credit card with a X BTC limit

I guess it doesn't make any sense

Since you would be still paying with fiat, and you would never know exactly what your current limit is, due to constantly changing exchange rates. Besides, you would most certainly have to pay hefty interest just because of that. I mean Bitcoin volatility which the card providers would consider as additional risk when loaning bitcoins to you. Maybe, I'm missing something, but overall it would be a bad idea

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[farl2web]

There are already exchanges and wallets doing exactly that

The advantage of the banks, though, is that you could open two accounts, one for fiat and another for bitcoins, and then you wouldn't need to send fiat to an exchange to buy a few coins paying hefty commissions. In this way, the usefulness of banks consists in closing, or at least minimizing the gap between fiat and Bitcoin. It is almost a given that a lot of people would turn away from exchanges and web wallets to banks, especially long-term investors that don't need to buy and sell bitcoins daily

Bitcoin banks already exist in some countries. But they are in themselves the same freedom that was dignity bitcoin. I'm afraid that was not worse.

Could you name these countries?

There are already quite a few places you can get a Debit card that yo pay in BTC but can use as USD EUR etc. It would be nice if someone offered a credit card with a X BTC limit

I guess it doesn't make any sense

Since you would be still paying with fiat, and you would never know exactly what your current limit is due to constantly changing exchange rates. Besides that, you would most certainly have to pay hefty interest just because of that. I mean Bitcoin volatility which the card providers would consider as additional risk when loaning bitcoins to you. Maybe, I'm missing something, but overall it would be a bad idea

I like the independence and unaccountability bitcoin. With the bank still will have more opportunities. The main thing that the dignity of the occasion and were not lost.

[seven4smoke]

Just BIG "NO" if bitcoin had a bank then the owner of the bank will be rich for sure like blockchain and even you are going to put nor deposit your bitcoin there it always had a fee when you are going to withdraw your bitcoin we already had bitcoin wallets why use to banks ? If there's an blockchain where to stock our profits.

Already, many banks are in the can with the time and Blockchain implemented with a high degree of probability that bitcoin will be part of the banking system. I think that they will combine their efforts, so only go Whether it's for the benefit of users.

[xypos]

Just BIG "NO" if bitcoin had a bank then the owner of the bank will be rich for sure like blockchain and even you are going to put nor deposit your bitcoin there it always had a fee when you are going to withdraw your bitcoin we already had bitcoin wallets why use to banks ? If there's an blockchain where to stock our profits.

To my understanding, the bitcoin banks profit from qrisky business ventures, and yes, they do still charge you a high fee on your withdrawals and deposits that usually just takse out your entire savings altogether.

Magnr's interest rates are ridiculously low, it is just not worth the risk. P2P lending is offering way more in terms of interest rate, and if you pick the right person to lend to it is just as safe.

[mikecgna]

Just BIG "NO" if bitcoin had a bank then the owner of the bank will be rich for sure like blockchain and even you are going to put nor deposit your bitcoin there it always had a fee when you are going to withdraw your bitcoin we already had bitcoin wallets why use to banks ? If there's an blockchain where to stock our profits.

To my understanding, the bitcoin banks profit from qrisky business ventures, and yes, they do still charge you a high fee on your withdrawals and deposits that usually just takse out your entire savings altogether.

Magnr's interest rates are ridiculously low, it is just not worth the risk. P2P lending is offering way more in terms of interest rate, and if you pick the right person to lend to it is just as safe.

What is the most important thing for us today, is that no one knows about our expenses and revenues. Therefore, we can all be carried out with the help of bitcoin. Of course it is not clear how much it will be displayed when there is an offer to buy expensive goods. And how to explain how rredstva.

[jovs]

Just BIG "NO" if bitcoin had a bank then the owner of the bank will be rich for sure like blockchain and even you are going to put nor deposit your bitcoin there it always had a fee when you are going to withdraw your bitcoin we already had bitcoin wallets why use to banks ? If there's an blockchain where to stock our profits.

To my understanding, the bitcoin banks profit from qrisky business ventures, and yes, they do still charge you a high fee on your withdrawals and deposits that usually just takse out your entire savings altogether.

Magnr's interest rates are ridiculously low, it is just not worth the risk. P2P lending is offering way more in terms of interest rate, and if you pick the right person to lend to it is just as safe.

I don't understand why bitcoin must have a bank. Since it is digital bank and you can transfer it to real money bank, what is the essence of bitcoin bank?

Also I agree that the interest of bitcoin bank would be higher than cashing it in or out through real money banks. Also, it would be safer if we don't use bitcoin banks.

[TheBobman]

I do not like it and I also do not think that we need such thing with the bitcoin if it always has been done like this and going well.
I just do not see the point at all.

[Positid]

I do not like it and I also do not think that we need such thing with the bitcoin if it always has been done like this and going well.
I just do not see the point at all.

We don't need bank that's for sure, the blockchain are our only bank and it's good since we are anonymous and we are not required for the KYC. We are free here to do anything so it's good to be decentralized and not controlled by the government.

[al0729]

ofcourse i agree . We can easily withdraw with that bitcoin bank

[JamesColombia]

We do not need it at all because we can control it ourselves and due to that I do not think its good and it will also destroy the bitcoin mind too...

[btccashacc]

ofcourse i agree . We can easily withdraw with that bitcoin bank

why do you trust someone to hold and controll your money while you can controll them by yourself,  i know that everyone has their own opinion over this topic, however i just dont get it with those are claimed that bitcoin bank is a good idea,  imagine if you have million dollars in bitcoin and you stored them out there, if you do anything illegal or something bad then they will close/freeze your account since they have ultimate controll over your wealth.
Simply bitcoin bank make our bitcoin are no longer decentralized.

[jvc12]

well if there want to be a bank for bitcoin well it will not be too good because the government will then now come in have charge of it and might also want to even want to stop it cause they will know it potentials. as for me i really don"t think well really need it  for the reason so i think people should trade it the way it is now.

[FaucetRank.com]

well if there want to be a bank for bitcoin well it will not be too good because the government will then now come in have charge of it and might also want to even want to stop it cause they will know it potentials. as for me i really don"t think well really need it  for the reason so i think people should trade it the way it is now.

you are correct, if there will no Government on such bank then they may scam us and they may also miss use our money.
But there is another case you can think if every body deposit their Bitcoin in Bitcoin bank then all Bitcoins will be in the hands of one institution and this thing will harm Bitcoin.

[deisik]

ofcourse i agree . We can easily withdraw with that bitcoin bank

why do you trust someone to hold and controll your money while you can controll them by yourself,  i know that everyone has their own opinion over this topic, however i just dont get it with those are claimed that bitcoin bank is a good idea,  imagine if you have million dollars in bitcoin and you stored them out there, if you do anything illegal or something bad then they will close/freeze your account since they have ultimate controll over your wealth

If you have a stash of bitcoins worth millions of dollars, I guess you could establish your own Bitcoin bank

For those who have been asking why would anyone need Bitcoin bank (let's assume that they are sincere in their misunderstanding), I suggest to think over why people may need web wallets. Since the assumption that they don't need them is obviously false just because people are actively using these wallets (me included) and there are millions of accounts opened there, therefore Bitcoin banks will be even more eagerly sought after. The reason is quite simple though, namely, Bitcoin banks would offer the same things as web wallets do plus a lot of what they don't

Simply bitcoin bank make our bitcoin are no longer decentralized.

I don't think that with Coinbase and Xapo our Bitcoin is not centralized already (whatever you might mean by this)

[agamasrori]

well if there want to be a bank for bitcoin well it will not be too good because the government will then now come in have charge of it and might also want to even want to stop it cause they will know it potentials. as for me i really don"t think well really need it  for the reason so i think people should trade it the way it is now.

you are correct, if there will no Government on such bank then they may scam us and they may also miss use our money.
But there is another case you can think if every body deposit their Bitcoin in Bitcoin bank then all Bitcoins will be in the hands of one institution and this thing will harm Bitcoin.

I agree with you two, if we put our bitcoin in bank its mean we let government to control it and bank to monopolize our bitcoin. I think big financial capital is big power that can make a few people rich but also can make many small business collapse too. So I don't agree with idea bitcoin bank.

[skyway1]

 i think we do not need bitcoin bank because we already using online system and we can keep our all bitcoin in anywhere and in any wallet with out any taxes and i think bitcoin bank will be get a high fees from our bitcoin so currently internet system is better.                                                                                                                                                      

[Fatanut]

ofcourse i agree . We can easily withdraw with that bitcoin bank

why do you trust someone to hold and controll your money while you can controll them by yourself,  i know that everyone has their own opinion over this topic, however i just dont get it with those are claimed that bitcoin bank is a good idea,  imagine if you have million dollars in bitcoin and you stored them out there, if you do anything illegal or something bad then they will close/freeze your account since they have ultimate controll over your wealth.
Simply bitcoin bank make our bitcoin are no longer decentralized.

I have nothing against banks but this guy is right. Most people agree with the idea of bitcoin bank because they think that it'll be more secure. If you do not know how to make your bitcoin wallet secure, then learn how to do it. Just a simple search in google and you'll get thousand results. Most of them are helpful, but you gotta check your computer for virus and keyloggers first.

On a side note, I also think that these people trusts their government and so it's okay that the whole point of bitcoin will be neglected and just surrender their coins to a bitcoin bank made by the government.

[deisik]

ofcourse i agree . We can easily withdraw with that bitcoin bank

why do you trust someone to hold and controll your money while you can controll them by yourself,  i know that everyone has their own opinion over this topic, however i just dont get it with those are claimed that bitcoin bank is a good idea,  imagine if you have million dollars in bitcoin and you stored them out there, if you do anything illegal or something bad then they will close/freeze your account since they have ultimate controll over your wealth.
Simply bitcoin bank make our bitcoin are no longer decentralized.

I have nothing against banks but this guy is right. Most people agree with the idea of bitcoin bank because they think that it'll be more secure. If you do not know how to make your bitcoin wallet secure, then learn how to do it. Just a simple search in google and you'll get thousand results. Most of them are helpful, but you gotta check your computer for virus and keyloggers first

People won't read all these manuals

They would rather use web wallets or not use Bitcoin at all. I'm talking about ordinary people, not geeks, of course. How many people are actually using web wallets is now pretty well known (see Coinbase ft. IRS). And as I see it, in respect to security, these wallets won't be much different from Bitcoin banks, but you should also reckon in the possibility that Bitcoin banks could greatly contribute to Bitcoin popularity among simple people, and even if you hate banks and Bitcoin banks in particular, you would still benefit from their emergence if it should occur

[darklus123]

People won't read all these manuals

They would rather use web wallets or not use Bitcoin at all. I'm talking about ordinary people, not geeks, of course. How many people are actually using web wallets is now pretty well known. And as I see it, in respect to security, these wallets won't be much different from Bitcoin banks, but you should also reckon in the possibility that Bitcoin banks could greatly contribute to Bitcoin popularity among simple people, and even if you hate banks and Bitcoin banks in particular, you would still benefit from their emergence if it should occur

 I myself uses web wallets. Because there is such a certain factors why we do like to use web wallets than deskttop wallet.
First is that we are not holding a fund that much tho.
The second is that IMO it is more convenient in terms of expense.
Third is the slow internet issue,  I try to use bitcore before but updating into current blocks would cost me a months of update which leads me to decide to rather used web wallet.

I have nothing against banks but this guy is right. Most people agree with the idea of bitcoin bank because they think that it'll be more secure. If you do not know how to make your bitcoin wallet secure, then learn how to do it. Just a simple search in google and you'll get thousand results. Most of them are helpful, but you gotta check your computer for virus and keyloggers first

That is the problem I do not have a good virus protection tho. I should have bought a licensed one before i would risk doing so.

[SvenBomvolen]

ofcourse i agree . We can easily withdraw with that bitcoin bank

   Point of the bitcoin is not to withdraw at all, one day we will do things directly, bitcoins for something we wish, and that banks lose their meaning. When we have bitcoin, and first thing I saw was be your own bank, I wish that, so there is no space for some banks, their fees and taxes.