Build a Bank Of Bitcoin

[coinplus]

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

Still, I learned that many people are preferring a system which will imitate a traditional banking features for the purposes of buying and selling bitcoins. Maybe this reason would be valid for short period of times as in near future we need not to struggle to buy or sell bitcoins as there would be many easy options are going to avail for everyone.

When you are getting paid in bitcoins, you never need a separate services to buy bitcoins. Similarly when you will be able to "use" bitcoins, there is no need of selling it.

[lovesybitz]

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized. if we do that we are breaking and changing the good meaning of bitcoins.

[NEWGOODOUBLE]

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized. if we do that we are breaking and changing the good meaning of bitcoins.

true, I think the presence of bitcoin bank, then they can exert control to each customer or user of bitcoin, but I think with bitcoin bank. it will help the government to believe in bitcoin

[virasisog]

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 ?

The most of the answers will be no ,Bitcoin banks will no more or even useless? Why ,my opinion is why inwould save my bitcoins on your bank ifni can save it on my own wallet online or offline. There's no big difference also for some reasons anonymity would be more likely useless ,depends on how the situation or the idea of bank instead more idealy gold to establish is a business to accept bitcoins.

[deppil]

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 ?

The most of the answers will be no ,Bitcoin banks will no more or even useless? Why ,my opinion is why inwould save my bitcoins on your bank ifni can save it on my own wallet online or offline. There's no big difference also for some reasons anonymity would be more likely useless ,depends on how the situation or the idea of bank instead more idealy gold to establish is a business to accept bitcoins.

bitcoin bank certainly would not be too useful, see the wallet is safer, cheaper, and certainly more anonymous. compared with banks that are open, there is a bigcost and so forth. I think bitcoin bank will not be too used

[FlightyPouch]

If you will build a bank for bitcoin will it be really popular to people? I think it will be not that popular.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your bank.

[crackhawk]

i think bitcoin it self is higher technology than bank, make me feel to have my own bank.
so why we need bank for bitcoin ?

[Jannn]

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized

You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.

[stadus]

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized

You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.

Therefore I am sure we will not support a bitcoin bank, we love the decentralized feature of bitcoin as we can go along with our transaction without consulting a third party. This is what we value as bitcoin supporters and enthusiast, we love the current system and I don't think any changes would give any improvement to bitcoin. What I like to see in the future is the bank to accept bitcoin as deposits.

[Diced90]

The idea is welcome

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized

You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.

Bitcoin being decentralized is what it is but don't you think if it became centralized through a Bank we would have mass adoption of the digital currency and it would have a better public reputation(and become legal) unlike the misconception media reports that its drug money.

[CraigWrightBTC]

i think bitcoin it self is higher technology than bank, make me feel to have my own bank.
so why we need bank for bitcoin ?

Yes you are right, personality I don't agree with bitcoin bank,
 because bitcoin is more better than bank include in amout of transaction,
there are not limited on bitcoin and there are not personal id on bitcoin.

[btccashacc]

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 ?

Well it's kinda simillar like coinbase and xapo but the difference is we can get interest for our saving. It's a good idea for those who have lot of bitcoins and earn profit while saving it. I personally don't like bitcoin bank idea firstly it's against bitcoin's concept "decentralized" also i don't trust wallet where i can't controll my private key, cause they, the owner have ultimate controll over my bitcoin, they can freeze my money or even steal it.
It's better to own your money on your pocket just saying.

[Xester]

If you will build a bank for bitcoin will it be really popular to people? I think it will be not that popular.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your bank.

It is a good observation that putting up a bitcoin bank is much harder than putting up a normal bank. There are many customers that will rain the bank with several complains that are out of your control just like slow confirmation and slow transactions. When a hacker get into your system you must have a back-up funds to refund their bitcoins. Your life will get complicated when you establish a bitcoin bank today, possibly in the future it will be feasible when people are familiar with bitcoin and how it works.

[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 ?

Well it's kinda simillar like coinbase and xapo but the difference is we can get interest for our saving. It's a good idea for those who have lot of bitcoins and earn profit while saving it. I personally don't like bitcoin bank idea firstly it's against bitcoin's concept "decentralized" also i don't trust wallet where i can't controll my private key, cause they, the owner have ultimate controll over my bitcoin, they can freeze my money or even steal it.
It's better to own your money on your pocket just saying

Your bitcoins can be stolen from your own wallet as well

Indeed, I don't mean you personally, but that's likely the case with the majority of users who are using personal wallets (unless you use a paper wallet, of course). We hear now and then that some exchange got hacked and their clients' bitcoins were stolen but we don't know how many users lost their coins too after their computers got compromised. Also, it is rumored that coins held at Coinbase are insured from theft, though I don't know if it is really so

[Reid]

I would not. First is I dont know you.
Second are many questions.
1. Would you rely on the bitcoin price as it grows also?
 Example: If I stored 1 bitcoin to you now and the price is $1018 then suddenly it goes up by $2000 does that mean you my store bitcoin in your also have that price? You might lose some money with that.
2. How much is the interest? Is that interest going to grow according to the price of bitcoin?

[Erza]

What is this really about? Is it to build a bank full of bitcoin or bitcoin bank? If this is about bitcoin bank, I think this is really good enough since it will be accept on everywhere more over on some country there is already some bitcoin ATM which is really helpful. Mean while if this is about bank full of bitcoin, not all people gonna accept this since the price is pretty high for now and there is not a guarantee that bitcoin price will be this high forever

[wuvdoll]

What is this really about? Is it to build a bank full of bitcoin or bitcoin bank? If this is about bitcoin bank, I think this is really good enough since it will be accept on everywhere more over on some country there is already some bitcoin ATM which is really helpful. Mean while if this is about bank full of bitcoin, not all people gonna accept this since the price is pretty high for now and there is not a guarantee that bitcoin price will be this high forever

What you mean by bank full of bitcoins ?

People here are believing that setting up a bitcoin bank is a stage where bitcoin get legalized so that they will be able to use bitcoins everywhere at the same time they will get huge profits from what they have saved.

In my view, there is no need of a bitcoin bank. Already we are doing perfect without it.

[maku]

Face it guys - idea of bitcoin bank is idiotic. We don't need bank to hold our bitcoins, we don't need another parasitic 3rd party.
The only reason people want this "bitcoin bank" to happen is they want to collect accrued interests.
But you tell me how it would work with unstable nature and volatility of BTC? Because I can't really grasp it.

[MoneyIsDebt]

I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized. if we do that we are breaking and changing the good meaning of bitcoins.

i think this is the advantage of the bitcoin that it has no such policies of the tax elusion and i does't has such transaction fees like other physicals banks have so, i think non of its user wants this. we have access to our wallet we can check the withdraw amount and deposit amount. what else we want from a online currency

[Tyrantt]

I'd have no need to trust you because I wouldn't use that bank even if it was already out there, because unlike fiat, I don't need to store my bitcoin under a mattress, I am my own bank. I may not have interest as other banks offer but there are a lot of other thinks that simply abolish the need for a bitcoin bank. That's just my thoughts...