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Author Topic: Build a Bank Of Bitcoin  (Read 15074 times)
Kez1817
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November 10, 2018, 11:22:19 PM
 #521

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?

    I think that is impossible to happen because people is bitcoin lover and want anonymous. If you put up a bitcoin bank you need to gather personal data from the people who wants to use your bank and beside there are so many online wallet where they can store their bitcoin which is like a bank.

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November 10, 2018, 11:44:16 PM
 #522

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?

    I think that is impossible to happen because people is bitcoin lover and want anonymous. If you put up a bitcoin bank you need to gather personal data from the people who wants to use your bank and beside there are so many online wallet where they can store their bitcoin which is like a bank.
We don't need a bank when we know we can use it by ourselves, we can buy in many establishments now. They can introduce banks to create crypto bit not to the point of having bitcoin again.

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November 11, 2018, 02:00:07 AM
 #523

lol, guys, bitcoin is very slow and it is not so easy changable as ETH, so maybe the answer is - never Smiley

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November 11, 2018, 02:15:29 PM
 #524

I think it is very difficult to get the trust from the marketers as it is today. As for loans, I think people will borrow money and buy bitcoins, instead of directly borrowing bitcoins because of the legal procedures of the countries, as well as the types of documents involved.
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November 11, 2018, 02:24:54 PM
 #525

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
it's a good idea. in my opinion that bitcoin must be able to reach a level that is far higher than it is today. a bank that manages bitcoin will become a bridge to increasing public trust in bitcoin. in calculation, in the future I am very optimistic that bitcoin can become a financial system used by various parties. bitcoin is a revolutionary in the world financial system and we will apply bitcoin in the world financial system as a whole in the future. This is just a matter of time and for anyone who has been able to use Bitcoin at this time they are very lucky people.
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December 04, 2018, 02:54:43 AM
 #526

This kind of thinking is too advanced, and it is meaningless to establish a bank in Bitcoin. Who would have the courage to give it bitcoin? What if the bank insists that it has not received it?
I have the same question, isn't the bitcoin owner anonymous? Whereas transactions in banks like conventional must have an identity? But I believe that can be realized if there is a change or modification of bitcoin so that an established bank can follow the rules in the country where the bank is located. Because bank regulations are different from bitcoin.
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December 04, 2018, 02:57:34 AM
 #527

But in that case, every account owner has the "identity" so it would not matter at all. The problem is that is more than difficult to regulate something like this to be a bank.

It is like creating a bank with digital vouchers or something like points for a game, only that in this case, bitcoins have an intrensic value.

But in the end it is totally the same

This kind of thinking is too advanced, and it is meaningless to establish a bank in Bitcoin. Who would have the courage to give it bitcoin? What if the bank insists that it has not received it?
I have the same question, isn't the bitcoin owner anonymous? Whereas transactions in banks like conventional must have an identity? But I believe that can be realized if there is a change or modification of bitcoin so that an established bank can follow the rules in the country where the bank is located. Because bank regulations are different from bitcoin.

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December 04, 2018, 04:10:02 AM
 #528

Well, for one thing, institutionalizing a currency is the one thing that we're actually fighting against. Butnif we're talking about a place where we can place our crypto currency in and secure our accesses with KYCs and AML policies then I'm all for it. It makes things more transparent and safe for everyone.

UchihaRukawa
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December 04, 2018, 06:09:32 AM
 #529

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?

I think I would if even if the price of bitcoin change, I would still get the same amount of bitcoin in fiat if the time comes that I want to get my fiat back, of course with the percentage of my earnings along with it. But I think it is gonna be complicated to create a bank that is made for cryptocurrencies.

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December 04, 2018, 06:16:51 AM
 #530

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?

I think I would if even if the price of bitcoin change, I would still get the same amount of bitcoin in fiat if the time comes that I want to get my fiat back, of course with the percentage of my earnings along with it. But I think it is gonna be complicated to create a bank that is made for cryptocurrencies.
in essence, every bitcoiner has his own wallet, so they like having a bank for themselves. but indeed we ourselves must guard the security of our wallets from hackers

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December 04, 2018, 06:25:37 AM
 #531

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
I think it's your right to do a Bitcoin Bank,conclusion: all know that at this time Bitcoin is still in the form of a coin that has not yet made one currency, legitimate like the nation's money that has been transacting, this requires a long process, must involve the government, private sector, law, and those related to banks.

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December 05, 2018, 02:30:06 AM
 #532

This can be consummated provided the full transparency of every transaction. Provision for a full identity reveal should also be considered as this can be both beneficient to both the investors and to account holders as well. As we all know, trading using cryptocurrency entails anonymity in every transaction which can be threatening as this can be used in cases like money laundering and or illegal activities like terrorist transactions and many other. If security can be promoted then I guess, building a crypto bank will be a good idea.

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December 05, 2018, 05:05:43 AM
 #533

So hard if build bank with bitcoin, we know how bitcoin price every time is not the same, we will faced big trouble when bitcoin is really at lower price, maybe when bitcoin growing up we can control the bank with bitcoin system, but how to protect when bitcoin price is down.
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December 05, 2018, 05:46:05 AM
 #534

if in Indonesia build a bank specifically bitcoin I would be very happy, bitcoin is very good to develop, I hope in Indonesia many open babk to talk and also bitcoin is acknowledged by the public, if bitcoin has been recognized by the community surely bitcoin will grow and will be more advanced

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December 05, 2018, 06:16:06 AM
 #535

very good advice for building a bitcoin bank, for now maybe in my country it is still too far away for that to happen because it is related to the legality of the government but I am sure that in the future along with the development of technology and advancement, it will certainly be better
Why are people so determined to make a bitcoin bank? won't that only reveal your identity as a bitcoin user? and of course all your money is under their control. I myself do not expect this much, but if the bitcoin bank really wants to be made of course it needs approval from the government, and that is not easy..
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December 05, 2018, 06:32:15 AM
 #536

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
a good idea for the development of crypto currencies but it all depends on the legality of the government maybe with legality will make investment safer of course

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December 05, 2018, 06:40:00 AM
 #537

In my opinion. the bank system for crypto currencies is very vulnerable to fraud and now the digital wallet system is able to facilitate crypto users to store their assets safely. we can manage digital wallets by ourselves so they don't involve other people. if you want to make a bank for crypto currency then you must have a high value of trust in customers and have a very good security system.

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December 05, 2018, 08:55:00 PM
 #538

By modifying traditional bank for BTC, a BTC bank may be established. But it is impossibe to establish such a bank officially because it will be unlawful and no country let the bank is located in their territories.

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December 05, 2018, 09:06:58 PM
 #539

if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
I won't trust you or anyone with my digital asset such as Bitcoin. This is because it is something I can simply manage on my own without requiring someone's assistance to bank them.

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December 05, 2018, 09:40:31 PM
 #540

As most people already mentioned, a bank in the sense of a trusted authority that controls your coins seems a step backwards. However, holding a savings account with a bitcoin "bank" could be a nice thing to have: I would earn interest X% and the bank would lend at X+Y% to cover lending costs and make a profit.

I'm not sure how exactly the ownership of these savings could work. Perhaps the coins would be outright sent to the bank and some token distributed in return (which could create a separate market) or a 1 of 2 key setup.
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