Do you agree with idea "Bitcoin bank" ?

[richardsNY]

I agree with bitcoin bank. We can have a securities with it, we are not going to be afraid on losing our money. We all know that we have the fear on losing our own money. I suggest to have a bitcoin bank, where we can store our own money. Instead of wallet address, we should have the unique account number, for us to store our bitcoin.

I disagree, the existence of the bitcoin surely there must be a different thing. The presence of the bitcoin bank will limit the transaction we do, surely this would have an impact on high cost. In addition, when we made the wallet of course must be through the bank and require legal data. So I conclude that bitcoin bank and fiat money is same and I will leave bitcoin.

Yes, bitcoin Bank is useless, I think even online wallet is save enough. I also Think that if transaction of bitcoin become controled by bank, people Will leave bitcoin. we have our own wallet, if we need to save large amount of bitcoin, we only need to choose the right type of bitcoin wallet. I think hardware wallet is the savest one.
I like bitcoin because no one can control my money or steal it. So I do not like bitcoin bank.

It is really useless since we do have lots of wallets either online or offline and if theres a bitcoin bank then what would be the purpose of those wallets? Then for sure people would still use them even banks will come out but they will not last for sure because people will mainly like to hold their own money without exposing their identity and they have the full access on it.

While this is true, don't underestimate the laziness of people, if they somehow think that securing their coins is too difficult you can bet a bank will seize the opportunity and say they can secure your coins for a price and then bitcoin banks will become a reality.

It's a fact that the average person can't handle the responsibility of taking care of its own money. It's fairly easy to assume that if such a service happens to launch, that people will jump on it. If it offers people whatever level of insurance, then it will give them even more confidence as they then take for granted that their coins are safe. It's a weird way of thinking, but that's how simple people are. If they are able to generate interest over their coins, then it will give these people even more incentive to sign up.

[1715431638]

1715431638

[markyminer]

I agree with bitcoin bank. We can have a securities with it, we are not going to be afraid on losing our money. We all know that we have the fear on losing our own money. I suggest to have a bitcoin bank, where we can store our own money. Instead of wallet address, we should have the unique account number, for us to store our bitcoin.

I disagree, the existence of the bitcoin surely there must be a different thing. The presence of the bitcoin bank will limit the transaction we do, surely this would have an impact on high cost. In addition, when we made the wallet of course must be through the bank and require legal data. So I conclude that bitcoin bank and fiat money is same and I will leave bitcoin.

Yes, bitcoin Bank is useless, I think even online wallet is save enough. I also Think that if transaction of bitcoin become controled by bank, people Will leave bitcoin. we have our own wallet, if we need to save large amount of bitcoin, we only need to choose the right type of bitcoin wallet. I think hardware wallet is the savest one.
I like bitcoin because no one can control my money or steal it. So I do not like bitcoin bank.

It is really useless since we do have lots of wallets either online or offline and if theres a bitcoin bank then what would be the purpose of those wallets? Then for sure people would still use them even banks will come out but they will not last for sure because people will mainly like to hold their own money without exposing their identity and they have the full access on it.

While this is true, don't underestimate the laziness of people, if they somehow think that securing their coins is too difficult you can bet a bank will seize the opportunity and say they can secure your coins for a price and then bitcoin banks will become a reality.

It's a fact that the average person can't handle the responsibility of taking care of its own money. It's fairly easy to assume that if such a service happens to launch, that people will jump on it. If it offers people whatever level of insurance, then it will give them even more confidence as they then take for granted that their coins are safe. It's a weird way of thinking, but that's how simple people are. If they are able to generate interest over their coins, then it will give these people even more incentive to sign up.

yes that is a good idea. but either the banks will take the responsibility of insurance of the wallets. i think it will be too much risky for them because in previous day why bitfinex hacked do you think that any bank can cover the lost. i do not think so.i think it is very difficult for them to ensures such big exchanges and even big whales account. giving interest may be a good decision i think.

[Xester]

I agree with bitcoin bank. We can have a securities with it, we are not going to be afraid on losing our money. We all know that we have the fear on losing our own money. I suggest to have a bitcoin bank, where we can store our own money. Instead of wallet address, we should have the unique account number, for us to store our bitcoin.

I disagree, the existence of the bitcoin surely there must be a different thing. The presence of the bitcoin bank will limit the transaction we do, surely this would have an impact on high cost. In addition, when we made the wallet of course must be through the bank and require legal data. So I conclude that bitcoin bank and fiat money is same and I will leave bitcoin.

Yes, bitcoin Bank is useless, I think even online wallet is save enough. I also Think that if transaction of bitcoin become controled by bank, people Will leave bitcoin. we have our own wallet, if we need to save large amount of bitcoin, we only need to choose the right type of bitcoin wallet. I think hardware wallet is the savest one.
I like bitcoin because no one can control my money or steal it. So I do not like bitcoin bank.

It is really useless since we do have lots of wallets either online or offline and if theres a bitcoin bank then what would be the purpose of those wallets? Then for sure people would still use them even banks will come out but they will not last for sure because people will mainly like to hold their own money without exposing their identity and they have the full access on it.

While this is true, don't underestimate the laziness of people, if they somehow think that securing their coins is too difficult you can bet a bank will seize the opportunity and say they can secure your coins for a price and then bitcoin banks will become a reality.

It's a fact that the average person can't handle the responsibility of taking care of its own money. It's fairly easy to assume that if such a service happens to launch, that people will jump on it. If it offers people whatever level of insurance, then it will give them even more confidence as they then take for granted that their coins are safe. It's a weird way of thinking, but that's how simple people are. If they are able to generate interest over their coins, then it will give these people even more incentive to sign up.

Bitcoin banks may actually increase security to our bitcoins and will also significantly increase millions of additional users to join in bitcoin. The only flaw in using bitcoin banks is that we are not going to enjoy much the price increase in bitcoin since when you deposited 1000$ worth of bitcoin when bitcoins price reaches 2k dollars already you will still only have 1k dollars worth of bitcoin in your bitcoin bank. In bitcoin banks you enjoy security and stability without sufferrng losses from volatility but you will not gain profit from price increase and will be paying surcharges during cashout.

[Rudi Setya]

this is good to heard , because i think there is a bitcoin bank will add people to believe about bitcoin and believe to use bitcoin ..

[deisik]

I agree with bitcoin bank. We can have a securities with it, we are not going to be afraid on losing our money. We all know that we have the fear on losing our own money. I suggest to have a bitcoin bank, where we can store our own money. Instead of wallet address, we should have the unique account number, for us to store our bitcoin.

I disagree, the existence of the bitcoin surely there must be a different thing. The presence of the bitcoin bank will limit the transaction we do, surely this would have an impact on high cost. In addition, when we made the wallet of course must be through the bank and require legal data. So I conclude that bitcoin bank and fiat money is same and I will leave bitcoin.

Yes, bitcoin Bank is useless, I think even online wallet is save enough. I also Think that if transaction of bitcoin become controled by bank, people Will leave bitcoin. we have our own wallet, if we need to save large amount of bitcoin, we only need to choose the right type of bitcoin wallet. I think hardware wallet is the savest one.
I like bitcoin because no one can control my money or steal it. So I do not like bitcoin bank.

It is really useless since we do have lots of wallets either online or offline and if theres a bitcoin bank then what would be the purpose of those wallets? Then for sure people would still use them even banks will come out but they will not last for sure because people will mainly like to hold their own money without exposing their identity and they have the full access on it.

While this is true, don't underestimate the laziness of people, if they somehow think that securing their coins is too difficult you can bet a bank will seize the opportunity and say they can secure your coins for a price and then bitcoin banks will become a reality.

It's a fact that the average person can't handle the responsibility of taking care of its own money. It's fairly easy to assume that if such a service happens to launch, that people will jump on it. If it offers people whatever level of insurance, then it will give them even more confidence as they then take for granted that their coins are safe. It's a weird way of thinking, but that's how simple people are. If they are able to generate interest over their coins, then it will give these people even more incentive to sign up.

Bitcoin banks may actually increase security to our bitcoins and will also significantly increase millions of additional users to join in bitcoin. The only flaw in using bitcoin banks is that we are not going to enjoy much the price increase in bitcoin since when you deposited 1000$ worth of bitcoin when bitcoins price reaches 2k dollars already you will still only have 1k dollars worth of bitcoin in your bitcoin bank. In bitcoin banks you enjoy security and stability without sufferrng losses from volatility but you will not gain profit from price increase and will be paying surcharges during cashout

You are confusing something

If you deposited some bitcoins worth 1000 dollars at the moment, you still deposited bitcoins (and not, say, dollars), therefore if Bitcoin price goes up, the price of your bitcoins will rise accordingly (in dollar terms) because you continue to have the same number of coins. Otherwise, you didn't deposit (or buy) bitcoins in the first place

[IamNotAnonymous]

Satoshi Nakamoto has decided to setup a Bitcoin Bank to help the Bitcoin traders to open Business Account so they do not need to beg to the commercial bank to open their business account. Many commercial bank do not like to open bank account if they trading digital currecy like Bitcoin. Therefore an intermediatory Bitcoin Bank is essential. A major bank like Barclays has denied Satoshi Nakamoto  to open his business account.

[MMA]

Satoshi Nakamoto has decided to setup a Bitcoin Bank to help the Bitcoin traders to open Business Account so they do not need to beg to the commercial bank to open their business account. Many commercial bank do not like to open bank account if they trading digital currecy like Bitcoin. Therefore an intermediatory Bitcoin Bank is essential. A major bank like Barclays has denied Satoshi Nakamoto  to open his business account.

how do you know that Satoshi Nakamoto give such statement. even no one know about Satoshi Nakamoto that who is he. so i think these are just fake news and there is no reality about this. people are just giving wrong argument. i think we do not need for any bitcoin banks in the movement. i think the wallet system is still a good option for the bitcoin users. which really an easy way of using bitcoin.

[justdimin]

It seems Austria agreed with "bitcoin bank" idea : https://www.cryptocoinsnews.com/worlds-first-dedicated-bitcoin-bank-opens-in-vienna

But I read they are proving just the "exchange" services rather than what actually a bank will do. Still not sure, will be glad to hear on what are the differences from a regular bitcoin ATM and other exchange services from official people or from those availing their services.

[BiTZeD]

No, this is a bad idea. Everyone that lost money in the Mt Gox fiasco will know what I am talking about.

[nikona]

It seems Austria agreed with "bitcoin bank" idea : https://www.cryptocoinsnews.com/worlds-first-dedicated-bitcoin-bank-opens-in-vienna

But I read they are proving just the "exchange" services rather than what actually a bank will do. Still not sure, will be glad to hear on what are the differences from a regular bitcoin ATM and other exchange services from official people or from those availing their services.

I think they will just work as an exchange service where you could deposit your money in BTC and they will convert it into their respective currencies and then show up into your Fiat account. I read about this just yesterday. Its most probably just a normal bank that accepts BTC.

[deisik]

It seems Austria agreed with "bitcoin bank" idea : https://www.cryptocoinsnews.com/worlds-first-dedicated-bitcoin-bank-opens-in-vienna

But I read they are proving just the "exchange" services rather than what actually a bank will do. Still not sure, will be glad to hear on what are the differences from a regular bitcoin ATM and other exchange services from official people or from those availing their services.

I think they will just work as an exchange service where you could deposit your money in BTC and they will convert it into their respective currencies and then show up into your Fiat account. I read about this just yesterday. Its most probably just a normal bank that accepts BTC

But isn't that exactly what we should in fact expect?

It kinda looks that you are considering Bitcoin banks as something lying totally outside the current banking system. But we already have web wallets and CoinsBank out there which could be loosely considered as Bitcoin banks in this very case. So we are left with the only option of regular banks starting to accept bitcoins. I guess they will pretty much cut it as Bitcoin banks emerging, and that's what most people seem to mean when they talk about Bitcoin banks

[virusasog]

No, this is a bad idea. Everyone that lost money in the Mt Gox fiasco will know what I am talking about.

I think this quarrel is no needed here in the forum and most of the people knows that bitcoin wallet itself a bank. If it come arise via bank then they will put charge for maintenance, taxes and etc. Better to be as like now.

[romero121]

No, this is a bad idea. Everyone that lost money in the Mt Gox fiasco will know what I am talking about.

I think this quarrel is no needed here in the forum and most of the people knows that bitcoin wallet itself a bank. If it come arise via bank then they will put charge for maintenance, taxes and etc. Better to be as like now.

Bitcoin wallet itself serves as a bank, but banks will surely support the promotion of bitcoin to move forward with increasing users, because common men always depend on banking for needs. Though tax gets levied if bitcoin moves through bank the risk of using it will decrease. To be on the better side its to have traditional banks and bitcoin wallets, no need to have bitcoin banks.

[erickkyut]

I do not agree with bitcoin banks. One of the reasons why I am using bitcoin is that i want more income. If I will put my bitcoin in a bank, it will be subjected to withholding tax and inflation rate because it does not have the opportunity to grow as we all know that there is a very little interest rate in the banks!

[PhilPrime]

I do not agree with bitcoin banks. One of the reasons why I am using bitcoin is that i want more income. If I will put my bitcoin in a bank, it will be subjected to withholding tax and inflation rate because it does not have the opportunity to grow as we all know that there is a very little interest rate in the banks!

Right, if it will be establish like a real banks, having establishment ,lots of rules and rate ,it will decreases the amount that we can have if all the bitcoin transactions will be held or operated by the bank. There were lot of chargers that need to be deducted on us.

[lOvE mE forEvEr]

a good suggestion, by the existence of bitcoin bank certainly will guarantee the existence of the bitcoin to continue to survive and are not easily controlled by the public. I prefer price bitcoin price stable than like a roller coaster.

[richardsNY]

yes that is a good idea. but either the banks will take the responsibility of insurance of the wallets. i think it will be too much risky for them because in previous day why bitfinex hacked do you think that any bank can cover the lost. i do not think so.i think it is very difficult for them to ensures such big exchanges and even big whales account. giving interest may be a good decision i think.

Insurance is nothing new. If you look at Coinbase for example, they have all their user's coins insured. If something happens from their side that will result in theft or whatever other situation where they end up losing coins from customers, you'll be guaranteed to be fully covered by their insurance. Coinbase can be seen as a large exchange, wallet service, etc. It's basically already a Bitcoin bank if you give or take a few features. Not much difference here.

[bob123]

In my opinion a Bitcoin Bank destroys the inital Idea of Bitcoin: Everyone being the on "owning" his money..
If you give your money away and trust a 3rd Party.. then there is no reason in using Bitcoins.. u could just
use FIAT. I think centralizing a decentralized system makes 0 sense.
The only possible idea of investing in a Bitcoin bank would be a high interest rate..
But this, to be honestly, won't ever happen.

[OrangeII]

if it serves to redeem bitcoin easily be fiat or otherwise, I think I agree with that. Well, it would probably be easier for us in invests, or bitcoin exchange money if we really need it, and it will probably make bitcoin become more popular.

[deisik]

In my opinion a Bitcoin Bank destroys the inital Idea of Bitcoin: Everyone being the on "owning" his money..
If you give your money away and trust a 3rd Party.. then there is no reason in using Bitcoins.. u could just
use FIAT. I think centralizing a decentralized system makes 0 sense.
The only possible idea of investing in a Bitcoin bank would be a high interest rate..
But this, to be honestly, won't ever happen

For you there might not be any reason

But for other folks there could in fact be plenty of reason in using a Bitcoin bank. And still more so if Bitcoin banking services would be offered by regular banks. In that case you wouldn't need to pay hefty commissions on fiat withdrawals as well as deposits from and to Bitcoin exchanges, and I'm strongly inclined to think that the former will be more reliable overall than the latter (given all the hacks and scams that we've seen during the last 4 years)