Build a Bank Of Bitcoin

[PetroffVany]

I don't even see the point.
Only 3 uses to a bank:
-keeping your property safe -> useless if you have your own wallet
-keeping up with inflation through the 2% you'l earn a year -> ridiculous compared to BTC inflation
-having your money accessible at all time through credit card -> digital currency hello?

I think the number 1 reason that you give is probably the reason a bank of bitcoin could happen, if you have some knowledge of computers then securing your coins yourself is very easy but for the average person that only knows how to use instagram and facebook it may be harder and then they may decide to use an additional service for it.

but when bitcoin bank offers guaranteed security. precisely wallet offering better terms to provide high security such as authentication and without control by anyone ?

no bank can offer you more security than you can achieve on your own while using bitcoin with cold storage.
and i strongly disagree with the need to be a computer expert in order to achieve the security.
it is not that hard to make a cold storage such as paper wallet and run a wallet on an air-gap system for signing,... and there are lots of walk throughs to read for this.

in fact banks also give you more security because they have the support and supervision of the governments. banks are the more important part of our life, as currently we are mostly depending on fiat therefore banks are also too much important for fiat.

Banks are important, because we all depend on fiat. If we free ourselves from this dependence, we will not need banks. We will be able to freely use their own wallets, and Bitcoins

[SvenBomvolen]

You know, wallets can be your own bank. It doesn't make sense  to me if you are making a bank for bitcoin. I haven't seen any bank like this. Why dont you make a wallet with unique features? Bank means you need to get under the government control which bitcoin users dont  want to be involve with.

I'm kind a little bit confuse of why he is going to build his own bank, Honestly, as a bitcoin fanatic we must understand that by keeping Bitcoin in our own wallet is obviously we are the bank of our own BTC. isn't common sense only, its logic isn't? I think that guy is like to implement the segwit which is not in favor to us for sure.

Thats right. The idea makes me confused also. I can't imagine that it would have all characteristics in it's activity as any other bank. If only in the case of keeping bitcoin, but this function good made by different kind of bitcoin wallets. So I really don't see any sense in bitcoin bank.

[panju1]

You know, wallets can be your own bank. It doesn't make sense  to me if you are making a bank for bitcoin. I haven't seen any bank like this. Why dont you make a wallet with unique features? Bank means you need to get under the government control which bitcoin users dont  want to be involve with.

I'm kind a little bit confuse of why he is going to build his own bank, Honestly, as a bitcoin fanatic we must understand that by keeping Bitcoin in our own wallet is obviously we are the bank of our own BTC. isn't common sense only, its logic isn't? I think that guy is like to implement the segwit which is not in favor to us for sure.

Thats right. The idea makes me confused also. I can't imagine that it would have all characteristics in it's activity as any other bank. If only in the case of keeping bitcoin, but this function good made by different kind of bitcoin wallets. So I really don't see any sense in bitcoin bank.

Banks give loans. Banks also offer interest on deposits.
It is not just about safekeeping of your money. If that was the only function of banks, you will just have safe deposit boxes, not bank accounts.

[Ewinsane]

you are sure it will work, because to build a bank that takes huge amounts of money and takes a lot of branches to facilitate its customers,
I hope you succeed

to create a bank. I think you need a solid team so that you can create a good bank and has a name in public. if you do not want to work hard as a do promotion. you will not be able to make a bitcoin bank

i agree with you they will need a high security for their bank and they will be make a trusted relation with their customer then they can get success and if they build a bitcoin they will be provide bitcoin loan for their customer ?

[geopolisch]

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

I don't think that there any way that the government is gonna believe in bitcoin. It is obvious that by now most the government's are aware of bitcoin's potential but they will still not like bitcoin because they cannot control the price of it so technically even if someone decides to build a bitcoin bank the government won't issue any sort of license as that will create more awareness of bitcoin which most government agencies doesn't want that to happen.

Yes currently its look like difficult that governments will accept bitcoin. But in future when people will increase the users of online currency for buying selling and other activities then governments will become hopeless in such conditions and they will accept bitcoin as legal currency. Or may be create their own digital currency for the people of their states.

[Kevin77]

Banks are important, because we all depend on fiat. If we free ourselves from this dependence, we will not need banks. We will be able to freely use their own wallets, and Bitcoins

Yeah the whole idea of using bitcoin is to be free and use bitcoin as you want and be your own bank and I think making a bank with bitcoin is something that is really achievable because bitcoin is not that stable, and if the price goes down how the bank is going to work, the online wallets are kind of a bank so no need for one.

I guess people prefer having bitcoin bank with an intention of easy and quick buying and selling bitcoins. Other than this, I do not find any advantage of having bitcoin banks.

[bit-emperor]

bank of bitcoin without transaction cash fiat money is ready, dekstop wallet or online wallet is same bank in fiat money
but if you want bank of bitcoin must build office, and can direct cash fiat money in bank of bitcoin i think is very dificult and imposible
you must understand, many people like bitcoin because anonymous without verified ID

i understand about the anonymous system of bitcoin, but the weakness of bitcoin is for example you save your bitcoin on the wallet dekstop, and then your hardisk is damage its mean that you will lost all of your bitcoin on your HDD, but if you save your bitcoin on the Bank Of Bitcoin it will not happen..because the Bank of Bitcoin will guarantee all of your bitcoin you save on that bank of bitcoin.

[nicolecan13]

Wow thats a nice idea of banking and a bank for digital currency will be a large bank in the future and its important to make secured bitcoin amounts storage. If that happens in my country having bitcoin bank at my place, i will highly recommend it for my friends who is also having bitcoins stored in their online wallets.

[sportis]

 --snip--

i understand about the anonymous system of bitcoin, but the weakness of bitcoin is for example you save your bitcoin on the wallet dekstop, and then your hardisk is damage its mean that you will lost all of your bitcoin on your HDD, but if you save your bitcoin on the Bank Of Bitcoin it will not happen..because the Bank of Bitcoin will guarantee all of your bitcoin you save on that bank of bitcoin.

I would like to say that is wrong to believe that bitcoin is anonymous. In reality is only 'pseudonymous'. Given that bitcoin transactions are stored in the blockchain, anyone can link your network address with your real identity, say that you buy/sell and has to give the real name and address, can compromise your anonymity. For this reason and not only for criminal activities some people use mixing services. Furthermore, if anyone's HDD crashes or loses his smartphone with his bitcoin wallet app easily can spent his coins if and only if remembers his recovery seed. Bitcoin bank is completely useless for the above reasons.

[The_prodigy]

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 don't want bank where i can deposit my bitcoin , blockchain is enough to restore my bitcoin how if you deposited your bitcoin there and then price increase is your bitcoin will increase too i don't think so if you holding them in blockchain and once the price is increase then you will win it.

[usefrees]

I do not understand the meaning of the creation of such a bank. After all, we are able to manage your Bitcoins. We do not need a mediator. The bank will take a commission for their services, and why should I care

[grandy]

you are sure it will work, because to build a bank that takes huge amounts of money and takes a lot of branches to facilitate its customers,
I hope you succeed

to create a bank. I think you need a solid team so that you can create a good bank and has a name in public. if you do not want to work hard as a do promotion. you will not be able to make a bitcoin bank

i agree with you they will need a high security for their bank and they will be make a trusted relation with their customer then they can get success and if they build a bitcoin they will be provide bitcoin loan for their customer ?

i also not in favour of bitcoin banks as i do not want to face the previous complicated process of  banking system. i want the present system of wallet to continue it as it is running as it is the most secure and easiest way of making money.

[Japinat]

you are sure it will work, because to build a bank that takes huge amounts of money and takes a lot of branches to facilitate its customers,
I hope you succeed

to create a bank. I think you need a solid team so that you can create a good bank and has a name in public. if you do not want to work hard as a do promotion. you will not be able to make a bitcoin bank

i agree with you they will need a high security for their bank and they will be make a trusted relation with their customer then they can get success and if they build a bitcoin they will be provide bitcoin loan for their customer ?

i also not in favour of bitcoin banks as i do not want to face the previous complicated process of  banking system. i want the present system of wallet to continue it as it is running as it is the most secure and easiest way of making money.

There is bank already in the physical world and they will surely take care of our banking needs, exchanges in the crypto will act as bank but will not operate based on the standard of the real bank govern by a certain agency of the government.

Real bank are concern with that the money we will deposit is coming from legitimate source, with bitcoin, it does not matter as long as you can play for the fees when buying that fine with exchanges. The way I see it, I guess in the future to come where bitcoin will be more popular, the government will begin to be more harsh on us and will require us to comply with their regulations, and of course we cannot do away with it as the exchanges will be their target while we solely rely on exchanges to convert our money.

[deisik]

 --snip--

i understand about the anonymous system of bitcoin, but the weakness of bitcoin is for example you save your bitcoin on the wallet dekstop, and then your hardisk is damage its mean that you will lost all of your bitcoin on your HDD, but if you save your bitcoin on the Bank Of Bitcoin it will not happen..because the Bank of Bitcoin will guarantee all of your bitcoin you save on that bank of bitcoin.

I would like to say that is wrong to believe that bitcoin is anonymous. In reality is only 'pseudonymous'. Given that bitcoin transactions are stored in the blockchain, anyone can link your network address with your real identity, say that you buy/sell and has to give the real name and address, can compromise your anonymity. For this reason and not only for criminal activities some people use mixing services. Furthermore, if anyone's HDD crashes or loses his smartphone with his bitcoin wallet app easily can spent his coins if and only if remembers his recovery seed. Bitcoin bank is completely useless for the above reasons

Off-chain transactions will iron out this disadvantage

And then Bitcoin will become more anonymous. In fact, you can already move bitcoins without your transfers being written on the blockchain for everyone to see and analyze. Other than that, I don't think that mixing services are of real help if you are seriously into hiding your criminal activities. Basically, you don't know who is behind the mixer you are using, so instead of hiding your footsteps you may be actually revealing them. As the proverb goes, beware of false prophets

[hamiltonik]

you are sure it will work, because to build a bank that takes huge amounts of money and takes a lot of branches to facilitate its customers,
I hope you succeed

to create a bank. I think you need a solid team so that you can create a good bank and has a name in public. if you do not want to work hard as a do promotion. you will not be able to make a bitcoin bank

i agree with you they will need a high security for their bank and they will be make a trusted relation with their customer then they can get success and if they build a bitcoin they will be provide bitcoin loan for their customer ?

i also not in favour of bitcoin banks as i do not want to face the previous complicated process of  banking system. i want the present system of wallet to continue it as it is running as it is the most secure and easiest way of making money.

Yes, for me Bitcoin - is ease of use. I do not want that between me and my Bitcoins were intermediaries. I do not consider the creation of such a bank a good idea

[canah17]

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 really depends dude... because if you have a license or you have a support from big companies then you we will trust you in order to have a bank you must save up larger money for the expenses and branches and that i will trust you with my bitcoin its a great idea also its all about bitcoin in banks its very rare in my country to have a bitcoin bank or to accept bitcoin but for you make that happened then you will get rich in an instant because bitcoin is now big of a deal today

[BeGoods]

You know, wallets can be your own bank. It doesn't make sense  to me if you are making a bank for bitcoin. I haven't seen any bank like this. Why dont you make a wallet with unique features? Bank means you need to get under the government control which bitcoin users dont  want to be involve with.

I'm kind a little bit confuse of why he is going to build his own bank, Honestly, as a bitcoin fanatic we must understand that by keeping Bitcoin in our own wallet is obviously we are the bank of our own BTC. isn't common sense only, its logic isn't? I think that guy is like to implement the segwit which is not in favor to us for sure.

Thats right. The idea makes me confused also. I can't imagine that it would have all characteristics in it's activity as any other bank. If only in the case of keeping bitcoin, but this function good made by different kind of bitcoin wallets. So I really don't see any sense in bitcoin bank.

bitcoin bank actually has the same function as bitcoin wallet but the difference is that the banks have login access to or control over accounts and bitcoin yours. I think bitcoin bank will not be too useful. agree!

[X-ray]

I don't even see the point.
Only 3 uses to a bank:
-keeping your property safe -> useless if you have your own wallet
-keeping up with inflation through the 2% you'l earn a year -> ridiculous compared to BTC inflation
-having your money accessible at all time through credit card -> digital currency hello?

I think the number 1 reason that you give is probably the reason a bank of bitcoin could happen, if you have some knowledge of computers then securing your coins yourself is very easy but for the average person that only knows how to use instagram and facebook it may be harder and then they may decide to use an additional service for it.

but when bitcoin bank offers guaranteed security. precisely wallet offering better terms to provide high security such as authentication and without control by anyone ?

no bank can offer you more security than you can achieve on your own while using bitcoin with cold storage.
and i strongly disagree with the need to be a computer expert in order to achieve the security.
it is not that hard to make a cold storage such as paper wallet and run a wallet on an air-gap system for signing,... and there are lots of walk throughs to read for this.

in fact banks also give you more security because they have the support and supervision of the governments. banks are the more important part of our life, as currently we are mostly depending on fiat therefore banks are also too much important for fiat.

Banks are important, because we all depend on fiat. If we free ourselves from this dependence, we will not need banks. We will be able to freely use their own wallets, and Bitcoins

We will still need a bank in our real life but it is different if the bitcoin atm already spread around the world. and I guess we can withdrawing our money everywhere without need the bank to recognise it.

We are no need bank to keep our financial but we need bank to connecting the digital financial with our lives.

[coinplus]

you are sure it will work, because to build a bank that takes huge amounts of money and takes a lot of branches to facilitate its customers,
I hope you succeed

to create a bank. I think you need a solid team so that you can create a good bank and has a name in public. if you do not want to work hard as a do promotion. you will not be able to make a bitcoin bank

i agree with you they will need a high security for their bank and they will be make a trusted relation with their customer then they can get success and if they build a bitcoin they will be provide bitcoin loan for their customer ?

i also not in favour of bitcoin banks as i do not want to face the previous complicated process of  banking system. i want the present system of wallet to continue it as it is running as it is the most secure and easiest way of making money.

Yeah, the whole idea of using bitcoin is being independent from all the banks and the governments so making a bank for bitcoins defies that idea, it is true that we can’t use bitcoin in real life because fiat is the thing that all people use, but why would you want to spend monthly fee on putting your money in a bank when you can store them for free in an online wallet.

Honestly I do not find big advantages of building bitcoin bank. Still, devs will come with some advantages of using it. So, need to wait till it get realized.

[cryptoblazter]

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 ?

No way, its not because I don't trust you. But because we are bank already of our own bitcoin. That's why were the only one who knows the private keys and passwords. So I think it wouldn't work if you insist to build your own bank.