Build a Bank Of Bitcoin

[bajing]

Bitcoin created to counter the traditional banks because many are disappointed with the way the bank works according to the most people is not profitable to save money in the bank, I dont think your idea will work if you want try to build this business.

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[stevano]

of course I would believe that if your bank already has a legal basis to create a new bank, but it feels a bit difficult at the beginning, but rest assured the future will inevitably bring changes .On where you set up the bank

[Babayega31]

Building a bank of bitcoin is really an awesome idea to have because most of bitcoin earners stored their btc using online wallet which I think unsafe for storing bitcoin due to vulnerable of hacking. If we have a bank of bitcoin I think that all hacking issues will be miimized and you now keeping safe what you have earned for future investments.

[Finestream]

I guess you have to study the government regulation first, you cannot just build a bank as it is not easy to get a permit if you are not qualified to do so. Bank is regulated by the government and they set guidelines to be followed by those who applied for it, bitcoin is a different think as they do not consider it as a currency but just only a payment system.

[Dudeperfect]

I guess you have to study the government regulation first, you cannot just build a bank as it is not easy to get a permit if you are not qualified to do so. Bank is regulated by the government and they set guidelines to be followed by those who applied for it, bitcoin is a different think as they do not consider it as a currency but just only a payment system.

Exactly, one must consider the regulations of the central bank of that country before starting any such bank. In other words, a government must approve bitcoin as a currency to allow their citizens to deal with bitcoin. Not only bank but if I am not wrong, even stating bitcoin ATM service, one is supposed to take the prior approval from the concerned authorities and since bitcoin is not yet recognised by the government yet, the process is complicated at this moment.

[zokora]

no i dont trust you. this is totaly out of why I invest in bitcoin. if I want to invest a bank, I dont buy btc.

[ImHash]

Can you prove that you have gold reserve in a secure place to back up any probable loss? could you open a shared bank account in Cayman island and then provide the bitcoin investors with a private page and a private key so that they could have access to their money which is the equivalent worth of the bitcoins at the time of depositing?
If yes then I'm in, where do I sign up?

[deisik]

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 have already explained why lending bitcoins is not a very good idea overall, but you seem to have missed that post. Basically, if someone takes a loan from you and provides a collateral, they may willingly and wittingly default on their loan if Bitcoin price surges a few times (and you will suffer heavy losses). On the other hand, I don't think that many folks would want to give you their property as a guarantee if it is worth a few times more than the bitcoins they might borrow from you. Really, if this property is actually worth so much, they could just take a regular loan in a regular bank and buy bitcoins with it

So, do you still think that we should trust you with our bitcoins?

[densuj]

of course I would believe that if your bank already has a legal basis to create a new bank, but it feels a bit difficult at the beginning, but rest assured the future will inevitably bring changes .On where you set up the bank

Exacly, must there are valid legality from the government,
because must there are control the bank of bitcoin,
about data of costumers capital for runing the business.
Everything must has valid rules from the government,
will make the people believe on new bank of bitcoin.

[Rinder]

Trust is something very hard to have online, first question is who are you that believe someone will trust you 0,01btc at your bank project?
Second lending bitcoins will ruin your project, as already stated above the price can skyrocket making you loose the bitcoins. If you had some skill at trading those would be the way for you to follow, lower risk, loans real banks does provide those already.

[Ewinsane]

Building a bank of bitcoin is really an awesome idea to have because most of bitcoin earners stored their btc using online wallet which I think unsafe for storing bitcoin due to vulnerable of hacking. If we have a bank of bitcoin I think that all hacking issues will be miimized and you now keeping safe what you have earned for future investments.

i do not agree with your idea because we know that bitcoin has very stable system to control bitcoin and people do not trust any bitcoin bank and they are mostly using their own personal wallet to save bitcoin.

[bitgoldpanther1978]

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 ?

Probably  the community in this industry, once they've find out that you establish a bitcoin bank, I think most of them will ignore you only, or some member here might get sarcastic with you or criticize you. even you had good program to anyone here, still they won't agree in Bitcoin bank ever. Its my perception only,

[craked5]

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 ?

What would be the point of such a bank? :/
Loans? You can get there on lots of different sites
Interests? What interests could you give which would be enough so we take risks with btc, a currency that has the best inflation of the world

[U2]

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 have already explained why lending bitcoins is not a very good idea overall, but you seem to have missed that post. Basically, if someone takes a loan from you and provides a collateral, they may willingly and wittingly default on their loan if Bitcoin price surges a few times (and you will suffer heavy losses). On the other hand, I don't think that many folks would want to give you their property as a guarantee if it is worth a few times more than the bitcoins they might borrow from you. Really, if this property is actually worth so much, they could just take a regular loan in a regular bank and buy bitcoins with it

So, do you still think that we should trust you with our bitcoins?

Short term loans like you see on this forum make sense but that's not what banks deal with. They want to give you a car loan or a mortgage or something big like that. None of this borrow $40 and pay $50 back next week. Who the hell has time for that crap? It's not worth the risk and certainly not worth the time.

[bit-emperor]

bitcoin bank should build in large numbers means there are branches in several major cities in the country, provide services, as well as a good management system competitive interest then surely people will believe

i agree, it is possible to happen, just need a big capital to do that

[Nathan047]

I feel like this wouldn't do well, one of the benefits of Bitcoin is you can be your own bank.

[dihari]

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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.
So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.

[Zadicar]

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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.
So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.

If theres a bitcoin bank then it will definitely remove the most important feature of bitcoin which is anonymity because if we do put it on banks then we really need to share our identity since it does really need for this kind of service on which the same on fiat banks we do know.

[ethereumhunter]

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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.
So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.

If theres a bitcoin bank then it will definitely remove the most important feature of bitcoin which is anonymity because if we do put it on banks then we really need to share our identity since it does really need for this kind of service on which the same on fiat banks we do know.

indeed, especially if the government wants to involve with the bank then i am sure that government wants to know who is the people is using bitcoin and who is the person which have much of bitcoin in their account. but if the bank its not like traditional bank, then they should protect their customer/member, maybe the function is like the ordinary bank that we've know.

[Arcteryx]

Bitcoin created to counter the traditional banks because many are disappointed with the way the bank works according to the most people is not profitable to save money in the bank, I dont think your idea will work if you want try to build this business.

Then why are the three major banks of Japan allowing the blockchain and accepting it all the sudden?
They are going to regulate it I know but still bitcoin needs the backing of those old banks if they wish to break thru to those customers that hold true to the current banking system because that is all they know and see it work for decades. So why change to something that hasn't had the time to prove itself yet and not have such credibility in that respect?

For reference purposes:
http://www.cryptocoinsnews.com/japanese-megabanks-invest-bitcoin-exchange