deisik
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March 27, 2017, 06:05:17 PM |
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Bitcoin is too volatile in price to be used in a traditional banking institution. A loan valued at $2000 could be worth $1500 tomorrow morning or $500 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 In fact, devaluation of Bitcoin (what you basically refer to) is not that dangerous for banks if they loan bitcoins Bitcoin banks (whatever may be meant by these) won't obviously loan money without collateral. So even if Bitcoin depreciates, the collateral will still retain its value, and they could create a host of financial instruments based on it. By far more dangerous event (for the bank) would be if Bitcoin actually appreciates (i.e. gains in value). In that case, the borrower might not want to return his loan at all, since he could easily buy what he pledged to the bank with his borrowed bitcoins and still have some bitcoins left |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Ziskinberg
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March 27, 2017, 10:46:37 PM |
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If the project what you mean an impact of good , what is wrong ? maybe it has been a piece of work those who want to extended . ~
Well, if "Bitcoin bank" gives the best effect for everyone, of course it is a good idea .. But, in my view, if bitcoin bank exists. Course there will be those who will control it. By doing so, bitcoin is no longer anonimity. Exactly, so I would not agree seeing a bitcoin bank that defeats the purpose of bitcoin. We want freedom and we can only have that when bitcoin will continue to be purely decentralized. Banks will make it centralized and we will all be required to pass on the requirements like the documentation and everything to comply with the AMLC and prevent money laundering. |
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richardsNY
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March 27, 2017, 11:11:06 PM |
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Exactly, so I would not agree seeing a bitcoin bank that defeats the purpose of bitcoin. We want freedom and we can only have that when
bitcoin will continue to be purely decentralized. Banks will make it centralized and we will all be required to pass on the requirements like the documentation and everything to comply with the AMLC and prevent money laundering.
Services acting as Bitcoin bank don't go against the purpose of Bitcoin at all. It is nothing more than an optional service that you can use if you so wish. If you don't want to make use of it, then you don't have to. I think that's the pure definition of freedom, right? No one will be forcing you to make use of it. I personally wouldn't make use of such a service, but if others will do so, then why should that be a problem? |
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stephanirain
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Freshdice.com
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March 28, 2017, 01:46:50 AM |
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Exactly, so I would not agree seeing a bitcoin bank that defeats the purpose of bitcoin. We want freedom and we can only have that when
bitcoin will continue to be purely decentralized. Banks will make it centralized and we will all be required to pass on the requirements like the documentation and everything to comply with the AMLC and prevent money laundering.
Services acting as Bitcoin bank don't go against the purpose of Bitcoin at all. It is nothing more than an optional service that you can use if you so wish. If you don't want to make use of it, then you don't have to. I think that's the pure definition of freedom, right? No one will be forcing you to make use of it. I personally wouldn't make use of such a service, but if others will do so, then why should that be a problem? I agree, it is upon on the person if he would like to use that service,. However, using bitcoin bank would be more convinient for every bitcoin holders to easily withdraw and deposit their money using fiat money to be converted into btc vice versa. If botcoin bank come, the market of bitcoin would certainly spread. |
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Japinat
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March 28, 2017, 02:59:37 AM |
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Exactly, so I would not agree seeing a bitcoin bank that defeats the purpose of bitcoin. We want freedom and we can only have that when
bitcoin will continue to be purely decentralized. Banks will make it centralized and we will all be required to pass on the requirements like the documentation and everything to comply with the AMLC and prevent money laundering.
Services acting as Bitcoin bank don't go against the purpose of Bitcoin at all. It is nothing more than an optional service that you can use if you so wish. If you don't want to make use of it, then you don't have to. I think that's the pure definition of freedom, right? No one will be forcing you to make use of it. I personally wouldn't make use of such a service, but if others will do so, then why should that be a problem? I agree, it is upon on the person if he would like to use that service,. However, using bitcoin bank would be more convinient for every bitcoin holders to easily withdraw and deposit their money using fiat money to be converted into btc vice versa. If botcoin bank come, the market of bitcoin would certainly spread. I don't have any problem with my local exchange now and honestly, it's fast as withdrawing in bank because I can do it only and withdraw cash to a designated ATM. I don't know what will change with the advent of Bitcoin Bank if so happen in the future but I'm pretty sure it will not be popular. People would rather preserve their personal information and not entrust the bank on it, without a bank we can do away with taxes and we can freely spend our bitcoins without limitation as long as we are responsible in doing it. |
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deisik
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English ⬄ Russian Translation Services
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March 28, 2017, 06:46:01 AM |
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Exactly, so I would not agree seeing a bitcoin bank that defeats the purpose of bitcoin. We want freedom and we can only have that when
bitcoin will continue to be purely decentralized. Banks will make it centralized and we will all be required to pass on the requirements like the documentation and everything to comply with the AMLC and prevent money laundering.
Services acting as Bitcoin bank don't go against the purpose of Bitcoin at all. It is nothing more than an optional service that you can use if you so wish. If you don't want to make use of it, then you don't have to. I think that's the pure definition of freedom, right? No one will be forcing you to make use of it. I personally wouldn't make use of such a service, but if others will do so, then why should that be a problem? This has been discussed numerous times already Obviously, people are looking in the wrong direction. They cry wolf when there is no wolf (and likely will never be) and keep silence when they should really shout out as loud as they can. They seem to be completely ignoring that we are already at the death bed, figuratively speaking. I refer to extreme centralization (or should I rather usurpation?) of mining power in a few hands. And that's the real problem. Are they ignorant or what? Right now Freebitco.in of faucet fame has started offering 4% annual interest on bitcoins held there, and I don't see that how that could potentially threaten Bitcoin (unlike the severe monopolization of mining which is already hurting Bitcoin) |
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n0ne
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March 28, 2017, 07:03:24 AM |
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If the project what you mean an impact of good , what is wrong ? maybe it has been a piece of work those who want to extended . ~
If the impact experiencd is good then nothing to worry, but at the same if there something happens in the opposite way then we cannot stop it. In my view bitcoin Bank is needed, but it should not have central authority same as the present, else the peculiar feature of bitcoin mainly the decentralization will soon fades off. |
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mylabs01
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Activity: 476
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Revolutionizing Brokerage of Personal Data
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March 28, 2017, 07:09:22 AM |
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no one will surely agree to this idea.. who would want that your coins will be controlled by the authority and put some taxes on it? no one right. bitcoin is freedom and not for any ones control. if we will have a bitcoin bank then a certain people will have control of our coins.
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batang_bitcoin
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March 28, 2017, 07:15:05 AM |
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no one will surely agree to this idea.. who would want that your coins will be controlled by the authority and put some taxes on it? no one right. bitcoin is freedom and not for any ones control. if we will have a bitcoin bank then a certain people will have control of our coins.
Yes, no one will agree to this idea because many are already treating their hardware and online wallets are their own banks. And besides, banks aren't going to simply adopt and make a bitcoin bank because they know that it is decentralized and it can make their business to fall because it doesn't have stable price. |
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Taki
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March 28, 2017, 07:18:28 AM |
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If the project what you mean an impact of good , what is wrong ? maybe it has been a piece of work those who want to extended . ~
Well, if "Bitcoin bank" gives the best effect for everyone, of course it is a good idea .. But, in my view, if bitcoin bank exists. Course there will be those who will control it. By doing so, bitcoin is no longer anonimity. I am agree with your point of view. I count the Internet where bitcoin is few as one global bank of bitcoins without any controller. I don't see it necessary to create special place to be a bitcoin bank. |
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Ipwich
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March 28, 2017, 01:16:26 PM |
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If the project what you mean an impact of good , what is wrong ? maybe it has been a piece of work those who want to extended . ~
Well, if "Bitcoin bank" gives the best effect for everyone, of course it is a good idea .. But, in my view, if bitcoin bank exists. Course there will be those who will control it. By doing so, bitcoin is no longer anonimity. I am agree with your point of view. I count the Internet where bitcoin is few as one global bank of bitcoins without any controller. I don't see it necessary to create special place to be a bitcoin bank. The thing is we are not looking for bitcoin bank anymore as we are satisfied with the exchanges and they can cater our needs. I do believe that there is nothing to chance when the current system is working perfectly, everything should be retain and we should not let our freedom to be taken away from us because of the possible measures a bitcoin bank would implement. |
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olcaytu2005
Legendary
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Activity: 1470
Merit: 1024
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March 28, 2017, 02:06:02 PM |
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I oppose to this idea, because if there are this type of banks in somewhere, most probably, we cannot say that Bitcoin is a decentralized system and your money will be controlled by a government or a monopoly. Bitcoin attracts us with this idea of a decentralized economy. However, this kind of opinion is far away from very soul of Bitcoin. Sometimes, I thought that this type of topic created by a state-government officials controls, Lol.
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zimmah
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Activity: 1106
Merit: 1005
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March 28, 2017, 02:23:48 PM |
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The whole idea of bitcoin is that you can be your own bank.
Banks are leeches of the economic system, you don't need banks.
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March 28, 2017, 02:27:53 PM |
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Bitcoin doesn't need a bank because we have already our own online wallet and exchanges. We can fully make it secured and protected, we can multiply our coins by very well known methods which are really profitable. I can manage my BTC at my own best.
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ije07
Sr. Member
Offline
Activity: 1414
Merit: 250
Undeads.com - P2E Runner Game
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March 28, 2017, 04:31:12 PM |
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If the project what you mean an impact of good , what is wrong ? maybe it has been a piece of work those who want to extended . ~
Well, if "Bitcoin bank" gives the best effect for everyone, of course it is a good idea .. But, in my view, if bitcoin bank exists. Course there will be those who will control it. By doing so, bitcoin is no longer anonimity. I am agree with your point of view. I count the Internet where bitcoin is few as one global bank of bitcoins without any controller. I don't see it necessary to create special place to be a bitcoin bank. The thing is we are not looking for bitcoin bank anymore as we are satisfied with the exchanges and they can cater our needs. I do believe that there is nothing to chance when the current system is working perfectly, everything should be retain and we should not let our freedom to be taken away from us because of the possible measures a bitcoin bank would implement. The point look i think man, i did not agree if anyone control bitcoin. Because their opinions i first met bitcoin, i believe this of going into solution the unemployed or one who harassed. Do not know what i will just thought bad. According to an analysis i might they are the government ~ You know own history the government is what ? |
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Winner
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Merit: 1000
Look ARROUND!
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March 28, 2017, 07:11:46 PM |
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The whole idea of bitcoin is that you can be your own bank.
Banks are leeches of the economic system, you don't need banks.
Right, the idea of a Bitcoin holder trying to hold other people's Bitcoin is really odd. For one thing, any Bitcoin holder that has read up on Project Bitcoin knows that fiat is monopoly money and Bitcoin is a better method to Bitcoin holder's getting their money placed in one area without the means of someone else running away with Bitcoin holder's money someday. Novice Bitcoin holder's could see the idea and go with it though they'll just learn from experience further down the road to not do that ever again. |
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Rinder
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March 28, 2017, 09:53:40 PM |
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Im my own bank i dont need any other companies with plenty control over my bitcoins at all, im able to get a decent fee from lending and investments i do make, soo why do i need bank?
Sure it would be good to go to a bank and use btc as colateral for a loan, but those wont happen.
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BlackPanda
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March 28, 2017, 10:55:16 PM |
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bitcoin bitcoin BANK will also make more trusted by the world community. because with the bitcoin BANK then there were a regulation that is used. and it organizes all about bitcoin transactions.
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MintCondition
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Activity: 1147
Merit: 1007
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March 29, 2017, 12:29:44 AM |
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The whole idea of bitcoin is that you can be your own bank.
Banks are leeches of the economic system, you don't need banks.
Right, the idea of a Bitcoin holder trying to hold other people's Bitcoin is really odd. For one thing, any Bitcoin holder that has read up on Project Bitcoin knows that fiat is monopoly money and Bitcoin is a better method to Bitcoin holder's getting their money placed in one area without the means of someone else running away with Bitcoin holder's money someday. Novice Bitcoin holder's could see the idea and go with it though they'll just learn from experience further down the road to not do that ever again. right,besides there is no need for holding ones bitcoin ,for we alone an hold or monitor our own bitcoin , without having any doubt. We alone the responsible on what ever we wanted to do in our bitcoin. Our wallets offers lots of features like transferring and services that are like in banking. So better learn to use are bitcoin wallets than to join in bitcoin bank that for sure will pay for every transaction to do. |
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Pattart
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March 29, 2017, 01:24:10 AM |
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bitcoin bitcoin BANK will also make more trusted by the world community. because with the bitcoin BANK then there were a regulation that is used. and it organizes all about bitcoin transactions.
of course the government will begin to consider the legality of bitcoin if the project bitcoin bank is successful ? because only with bitcoin bank. the government can exercise control on the user? |
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