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Taskford
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October 14, 2017, 02:43:14 AM |
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Bitcoin banks is a good idea because it will help people to secure and put in a safe place their bitcoin because if we are going to have a bitcoin bank then there is nothing to worry about t he wallets that we are using because they will take care of it and give the maximum security for our bitcoin as much as possible.
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zmkriel
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October 14, 2017, 03:15:36 AM |
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Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Same sentiments here. What "bitcoin bank" really do? We will deposits our bitcoin to him?  If that happens,the real essence of bitcoin will be lost I think. People wants to hold or store their bitcoin,where they can spend anytime. you're right. bitcoin was created to elimate bank so the idea of having bitcoin bank was pointless. especially when you do trading, how can we do trading transactions smoothly when our bitcoins is in the bank, right? so a big NO for bitcoin bank. |
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reperedition
Newbie
 Offline
Activity: 2
Merit: 0
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October 14, 2017, 04:20:24 AM |
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It seems crazy to store/deposit BTC in a bank. But I had another idea while thinking about it, at this point in most of the countries cryptocurrency world and paper money world are totally separated, in some countries it is impossible to legally buy products for cryptocurrencies or convert cryptocurrencies to paper money. The idea would be real great to link those to worlds up by creating a hub platform for exchanging all existing cryptocurrencies (not just bitcoin or etherium etc.) into paper money OR even make platform for INSTANT exchange and payment... Such "Bank" could really change the world
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Rovie08
Newbie
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Activity: 29
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October 14, 2017, 04:26:46 AM |
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Yes I think it can be happen because it is digital transaction however it is need a strong internet connection.
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oegarod
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October 14, 2017, 04:29:12 AM |
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Bitcoin banks is a good idea because it will help people to secure and put in a safe place their bitcoin because if we are going to have a bitcoin bank then there is nothing to worry about t he wallets that we are using because they will take care of it and give the maximum security for our bitcoin as much as possible.
Now itself with the people who have some skills and knowledge about the technology consider bitcoin wallets as their own bank with full freedom. When an idea of bitcoin banking is initiated, automatically it will get into the hands of some people who is responsible for each and every activities. So, if a person does a mistake by scamming an user it affects the entire network. Better is to serve as it is now. |
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JohnPierson
Member
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Activity: 163
Merit: 10
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October 14, 2017, 04:32:36 AM |
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It seems crazy to store/deposit BTC in a bank. But I had another idea while thinking about it, at this point in most of the countries cryptocurrency world and paper money world are totally separated, in some countries it is impossible to legally buy products for cryptocurrencies or convert cryptocurrencies to paper money. The idea would be real great to link those to worlds up by creating a hub platform for exchanging all existing cryptocurrencies (not just bitcoin or etherium etc.) into paper money OR even make platform for INSTANT exchange and payment... Such "Bank" could really change the world
I think it's reasonable to have such a mediator only if it is decentralized. So, someone who will implement it will bring the fiture of cryptoecomomics. But currently existing blockchains have not the required scalability. And moving from centralized systems to decentralized is a gradual process. |
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domgamer
Newbie
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Activity: 40
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October 14, 2017, 05:09:13 AM |
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I think there is no need for bank as we already have our own wallet. It will earn in bank but sure its only small. The other thing is if the bank gets hacked we are lost already.
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AkaSnake
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Activity: 70
Merit: 0
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October 14, 2017, 05:10:58 AM |
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We don't need any kind of banks for bitcoin or altcoins, we already have enough banks as it is in the world right now and fee transaction that comes with it. Our wallets are our banks!
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endlasuresh
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October 14, 2017, 05:21:20 AM |
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It could have some common sense for referring to Bitcoin bank since it is decentralized wallet so it should be in invisible technique, else everyone will get taxation.
Every Govt won't allow for having Bitcoin Bank as they have some strict rules to set up a bank.
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For Telugu Translation Contact to me
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bebejhen
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October 14, 2017, 05:54:09 AM |
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I think we don't need banks for bitcoin anymore because we already have bitcoin addresses where they put our bitcoin payment. I think it is already safe there. In fact it is easy to use so I don't see any problem.
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ichanjay
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October 14, 2017, 05:55:43 AM |
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Having a bank will lose the purpose of creating the bitcoin. having the entire control of your own money. We already have a wallet where we can make deposits and withdrawals anytime we want. Having a bank will surely cost additional fees which we dont want.
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reperedition
Newbie
Offline
Activity: 2
Merit: 0
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October 14, 2017, 06:13:06 AM |
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It seems crazy to store/deposit BTC in a bank. But I had another idea while thinking about it, at this point in most of the countries cryptocurrency world and paper money world are totally separated, in some countries it is impossible to legally buy products for cryptocurrencies or convert cryptocurrencies to paper money. The idea would be real great to link those to worlds up by creating a hub platform for exchanging all existing cryptocurrencies (not just bitcoin or etherium etc.) into paper money OR even make platform for INSTANT exchange and payment... Such "Bank" could really change the world
I think it's reasonable to have such a mediator only if it is decentralized. So, someone who will implement it will bring the fiture of cryptoecomomics. But currently existing blockchains have not the required scalability. And moving from centralized systems to decentralized is a gradual process. You mean blockchain is not decentralized enough to create such platform? Could you be more specific and detailed please? |
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zais
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October 14, 2017, 06:13:55 AM |
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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 OR any centralized service which only ask name and email address.
I do not agree with the existence of bitcoin banks, of course if there is a bitcoin bank users will not then invest because they have to follow the existing procedures and the government will certainly take part in that. |
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lynn0729
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Activity: 56
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October 14, 2017, 06:46:28 AM |
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i agree with this idea. if Bitcoin bank is founded,which means Bitcoin is legal.,just like the banks currently. at that time,we can pay with Bitcoin.that is the practical value of Bitcoin.however,the problem is the safety,since it is discentralized,how can we trace it and protect our Bitcoin.The idea is good,but it still hasqa long way to go.
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laravuemaster
Full Member
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Activity: 378
Merit: 100
When Football meets Crypto
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October 14, 2017, 07:07:53 AM |
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It will be a good idea if there is a procedure like email address authentication before executing a transaction but then there is so much procedure to follow before succeeding in this kind of action in the process of registration in the local banks. Banks are very strict and it will be very hard to withdraw if you have a huge amount.
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iamKiko218
Member
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Activity: 63
Merit: 10
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October 14, 2017, 07:58:13 AM |
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First of all, bitcoin was originally created to be decentralized. But there's coinbase, xapo, wallets, etc. which are centralized and already acts like a bank in which some bitcoin users were using. For me, if there will be an "official" "bitcoin bank", I will disagree to it. Because it will surely erase the real concept of bitcoin. If that happens, they will already have control on our bitcoin, ask us our personal information, charge some transaction fees, set some rules for us to follow, and other things that a bank usually do. And personally I don't like it to happen.
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jubayerjb25
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October 14, 2017, 08:14:03 AM |
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No, I don't agree with Bitcoin bank because People love the theme of decentralization aspect of Bitcoin but Bitcoin bank simply means centralized bitcoin wallet just like coin-base.
Moreover, if we think the availability of safe withdrawal of money from Bitcoin wallet then anyone can transfer money to any part of the world in 10 minutes, once one has access to internet so we do not need to trust someone to do this for us.
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Xenophoto
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October 14, 2017, 05:34:12 PM |
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i agree with this idea. if Bitcoin bank is founded,which means Bitcoin is legal.,just like the banks currently. at that time,we can pay with Bitcoin.that is the practical value of Bitcoin.however,the problem is the safety,since it is discentralized,how can we trace it and protect our Bitcoin.The idea is good,but it still hasqa long way to go.
I think that is the only upside to this. That bitcoin is going to be legalized, more people are going to know about it, more buyers are coming, more investors are coming, and so the people like us who already have some bitcoins are going to have lots of profits. We are the first ones to be here. On the other hand, there will be problems arising. One of them is that some bitcoin will be centralized and owned by the government. Remember that you don't own a wallet unless you have its private keys. I think that banks are going to act just like how online wallets are acting. They don't give us the private key of our wallet (some online wallet gives private key though). Just what is the ulterior motive of the government to open up a bitcoin bank. Are they trying to attack by getting the majority of bitcoins and then burning them all at once? In case they have some type of regulation or some law about bitcoin, we do have altcoins so we're still safe from this. I would never trust a bitcoin bank, to be honest. I know how to keep my computer free from malwares and I know how to keep my bitcoins secure. |
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waynechong1995
Full Member
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Activity: 644
Merit: 117
swing!
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October 14, 2017, 05:53:19 PM |
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'Banks' are centralized business, it's already against the original philosophy of Bitcoin.
Those that purpose Bitcoin bank mainly is to present the ways Bitcoin can adopt like normal financial institution does, to accepts deposits from the public and creates credit. However, this wouldn't work as anonymity is one the core features of bitcoins, how these banks gonna identify their owner correctly when they is no legal bond of ownership, KYC? it would defeat the purpose of Bitcoin.
I believe that if Bitcoin chooses to move towards centralization, it wouldn't be valuable anymore.
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Rajat97
Newbie
Offline
Activity: 14
Merit: 0
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October 14, 2017, 05:56:40 PM |
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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 OR any centralized service which only ask name and email address.
Not having a bitcoin bank makes this currency so popular. The main part of Bitcoin is peer to peer where there is no third party involved. If there are Bitcoin bank you would not see any growth and it would be same as normal currency with same restriction about flow of currency in a particular country. |
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