Do you agree with idea "Bitcoin bank" ?

[bitass]

No. I don't see how a regular bank is any different from something named Bitcoin bank. In both cases you have no control over your money. I at all times will make sure I am the only person holding my coins. The only exception is when I am trading and when I mix my coins. Other than that, my coins are always in my full ownership.

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[roadbits]

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.
   

I too agree that Bitcoin bank, but before that, I want to fix the bitcoin price. Yup, there is a lot of fluctuation in bitcoin price. So if the price went down like hell means there is no meaning for bitcoin bank. So we have to fix the price and make bitcoin bank. If it comes to market, it will help us a lot. I am waiting for that day.

[Meycell]

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.

honestly for me . i do not care about this because for me bitcoin as income not payment .  and i think bank local can change it to local money ! it's enough

[Meycell]

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...

yes i agree for your statement . we can control it
open bitcoin bank is no need, if there is bitcoin bank so there is third party this is make our bitcoin not safe and may be we have to pay tax every month

[shamzblueworld]

Of course not, it goes against the main purpose and core idea behind the creation of Bitcoin. It takes out decentralization from it, and secondly we let another entity interfere with it and possibly share the control of it. Even it this idea goes into practice, I'd never get into it.

[sanakhan1]

i think bitcoin bank is necessary for bitcoin users ,

[pooya87]

No. I don't see how a regular bank is any different from something named Bitcoin bank. In both cases you have no control over your money. I at all times will make sure I am the only person holding my coins. The only exception is when I am trading and when I mix my coins. Other than that, my coins are always in my full ownership.

a bank can just be another service like any other service. and services are always needed. and despite everyone showing hate towards banks around this forum, we are all using banks for our money and in some cases i can see people using bitcoin bank too. for example to issue accounts with profit or loans.

[Jiyens3]

i think bitcoin bank is necessary for bitcoin users ,

for what ? i think bank local can help bitcoin users .
so i think if there is bitcoin bank for what ? i think no need

[Rizky Aditya]

I would think that more people would like the idea. But instead a lot of people dislike the idea. I thought that it was a great idea because you could get a quick loan if you were in need of some Bitcoin. It is also a good idea because the banks would pay you interest like they do in a fiat bank.

[TastyChillySauce00]

I would think that more people would like the idea. But instead a lot of people dislike the idea. I thought that it was a great idea because you could get a quick loan if you were in need of some Bitcoin. It is also a good idea because the banks would pay you interest like they do in a fiat bank.

What's the different from requesting a loan on some sites which provide it then? I guess that the requirements still the same. You may provide some important data or documents and then giving a collateral if it's necessary and you will be burdened by the interests which are quite high for a monthly period or even weekly as you negotiated with the lender. People aren't worrying about the lending system on the first place but if the bitcoin bank is going to be realized. The whole system will turning out becoming centralized

[Dudeperfect]

I would think that more people would like the idea. But instead a lot of people dislike the idea. I thought that it was a great idea because you could get a quick loan if you were in need of some Bitcoin. It is also a good idea because the banks would pay you interest like they do in a fiat bank.

Yes there is a flow of opinions but I see the major debate is regarding control or the possession of the funds. People would like to gain some interest on their funds but most of them won’t be ready to handover their bitcoins (and they are right on their part) but banks or any other financial institutions will only be able to give interests when they will lend it to others and hence the ideology behind middlemen (bank) is to manage the possession and make best use of it.

[deisik]

I would think that more people would like the idea. But instead a lot of people dislike the idea. I thought that it was a great idea because you could get a quick loan if you were in need of some Bitcoin. It is also a good idea because the banks would pay you interest like they do in a fiat bank.

What's the different from requesting a loan on some sites which provide it then? I guess that the requirements still the same. You may provide some important data or documents and then giving a collateral if it's necessary and you will be burdened by the interests which are quite high for a monthly period or even weekly as you negotiated with the lender. People aren't worrying about the lending system on the first place but if the bitcoin bank is going to be realized. The whole system will turning out becoming centralized

There would be a fundamental difference between lending sites and Bitcoin banks

As far as I understand it, lending sites themselves don't lend anything, they just bring together potential lenders and borrowers. I can't really imagine what kind of collateral could be used online, especially if you are going to borrow a few dozen bitcoins. I've seen arguments that altcoins could be used as such, but as to me, this is complete garbage. If you need money, and you have a stash of altcoins, go and sell them. If you can't, you can't use them as collateral. Bitcoin banks, on the other hand, could demand and receive genuine collateral, for example, real estate, cars, shares, etc

People would like to gain some interest on their funds but most of them won’t be ready to handover their bitcoins (and they are right on their part) but banks or any other financial institutions will only be able to give interests when they will lend it to others and hence the ideology behind middlemen (bank) is to manage the possession and make best use of it.

Millions of people are already using web wallets and willing to hand over their funds to these even if they are paid no interest on the transferred amounts

[Dudeperfect]

People would like to gain some interest on their funds but most of them won’t be ready to handover their bitcoins (and they are right on their part) but banks or any other financial institutions will only be able to give interests when they will lend it to others and hence the ideology behind middlemen (bank) is to manage the possession and make best use of it.

Millions of people are already using web wallets and willing to hand over their funds to these even if they are paid no interest on the transferred amounts

Well yes, Millions of people are using web wallets but they have faith on the web wallet service provider (at least say that is what they have been told by these services), but when it comes to reuse of funds how many of them would grant permission to use funds from their web wallets for the purpose of lending it to others?

[steelhouse]

What do you want a bank for when your wallet already is a bank?

You want to loan money out so deadbeats that can't work can make millions off your money.  When a bank loans money and the deadbeat that borrows it does not pay it back?  1. The government bails them out.  2. The deadbeat and their posse blames the bank and sues them and the bank pays a fine.   3. Some deadbeat borrows millions of your money makes twice your money then gives you back 2% for your time.   4. The bank owners give themselves loans and buy companies with your money.  5. All of the above

If you don't know the answer is 5 read the books.

[deisik]

People would like to gain some interest on their funds but most of them won’t be ready to handover their bitcoins (and they are right on their part) but banks or any other financial institutions will only be able to give interests when they will lend it to others and hence the ideology behind middlemen (bank) is to manage the possession and make best use of it.

Millions of people are already using web wallets and willing to hand over their funds to these even if they are paid no interest on the transferred amounts

Well yes, Millions of people are using web wallets but they have faith on the web wallet service provider (at least say that is what they have been told by these services), but when it comes to reuse of funds how many of them would grant permission to use funds from their web wallets for the purpose of lending it to others?

I guess it would largely depend on specific terms

There are quite a few folks willing to lend their money. If they lend this money through a real bank which requires a real collateral to be provided, and the interest they would receive is satisfactory, I don't see why they wouldn't do that. After all, when they lend bitcoins directly, they are still facing basically the same risk, but with Bitcoin banks, it should be way lower on average

[xypos]

i think bitcoin bank is necessary for bitcoin users ,

I really have to disagree. If you are just using bitcoin, then you don't need a bitcoin bank. A bitcoin bank is just a fancy name for a bitcoin investment. They want to sound like they are providing you with safe returns when you might as well just loan out your coins on polo or bitfinex and have the same amount of counterparty risk, of them doing a runner.

[Pattart]

I would think that more people would like the idea. But instead a lot of people dislike the idea. I thought that it was a great idea because you could get a quick loan if you were in need of some Bitcoin. It is also a good idea because the banks would pay you interest like they do in a fiat bank.

yeah of course there are advantages and disadvantages in bitcoin bank. and of course there are supportive and some are cons. I think bitcoin bank circulated freely, because back again on each user's use it or not it's up to their own

[crypto1010]

Honestly this is a 50\50 decision as this would mean easy access of buying and selling of bitcoins and also require some personal info on users using the service to sweep out fraudulent activities
I would like to see this bitcoin bank as a pilot project to see how this goes

[deisik]

i think bitcoin bank is necessary for bitcoin users ,

I really have to disagree. If you are just using bitcoin, then you don't need a bitcoin bank. A bitcoin bank is just a fancy name for a bitcoin investment. They want to sound like they are providing you with safe returns when you might as well just loan out your coins on polo or bitfinex and have the same amount of counterparty risk, of them doing a runner.

Bitfinex? You must be kidding mate. Somehow, a lot of people who are just using Bitcoin are using it through one of the numerous web wallets available in Internet. If it ever comes to calling names, a Bitcoin bank would be a fancy name for a web wallet not an investment. Strictly speaking, you could hypothetically consider web wallets as a sort of investment too. I mean those web wallets that pay transaction fees for you and thus allow you to save on the fees in comparison with desktop wallets...

But penny saved is a penny gained

[grta14]

the idea of bitcoin banking i think is a welcome idea because it will become an avenue for people to more of the existent of bitcoin and it value to the economic and as such bringing the government to make it well know to the people and hereby been accepted by people in the economy so bitcoin bank is a good idea