MirzaofDaska
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August 16, 2018, 06:02:30 AM |
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In my mind, this question raises two more questions:
Can an entire banking business be built on top of blockchain technology?
When will blockchain be practical for the Banking industry?
1 - Bank’s are businesses that exist and survive because of a business model and strong execution which is part of their operational model. Technology only enables these models. Banks require technology for their operations and to reach their customers. Blockchain is just one technology out of many that can be put to use by a bank. Blockchain technology will be suitable for some use cases, but it won’t ever be a solution for all use cases.
2 - At this point, blockchain technology cannot be considered ready for mass adoption by an enterprise - technology platforms are not mature, standards are not in place, the uses and implications of the technology are not understood as well as other more prevalent technologies used in regulated industries such as Banking, and the networks required for a network-effect type technology like blockchain are not in place.
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ngamuk tok
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August 16, 2018, 06:18:16 AM |
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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 ?
why not, of course we will believe. even I think bitcoin banks are safer than fiat money banks, more sophisticated technology and transparent transactions will provide convenience for customers. |
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pickledmuffin
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August 16, 2018, 06:51:02 AM |
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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 ?
Isnt that the whole point of crypto, to 'not have banks' and a de-centralised eco system with no overheads or greedy overlords. |
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redsun114
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August 17, 2018, 05:24:02 AM |
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the biggest problem for you open the BTC bank from the government. The government don't promit.and don't have low to Support.
In my opinion, the government has its own interests and keeps them in view before implementing a policy. Normally the topic of progressive taxation comes in my mind upon studying the government intervention in Bitcoin. A bank of Bitcoin if run by the government will be the same as a bank of fiat because the government will implement the same policies to get their utility maximized and so on. Besides, the features that is offered by Bitcoin being decentralized. |
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snkneo
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August 17, 2018, 06:34:40 AM |
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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 ?
So let say you do start a Bitcoin bank, why would people trust you to hold their Bitcoins? After a person earns interest on their Bitcoins, how are you going to pay them after you get hacked and all the money the Bitcoins are stolen? One of the biggest things that people repeat over and over in the crypto world is to never leave your crypto in an exchange, for obvious reasons. Why would a Bitcoin bank be different? |
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mikan111
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August 17, 2018, 08:02:28 AM |
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It would be contrary to the very essence of BTC. It is precisely decentralization that describes the essence of the BTC and the banks are going in the opposite direction! Personally, I wouldn't use the bank for bitcoin
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kiatitami
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August 17, 2018, 08:22:01 AM |
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This is unlikely to happen, but the price of the coin is constantly increasing unstable, no one dared to open a BTC bank. That was my thought
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DaughterOFbitcoin
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August 17, 2018, 09:17:31 AM |
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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 purpose of Bitcoins is to get away from banks, and not have them store your money. Also banks are allowed to lend out 7 times the amount of money that they have from the public. You cannot do that with Bitcoin. And where are you going to store the Bitcoins? In a Bitcoin wallet? People can already do that for themselves, unanimously, private from most people. While you'll be a major target. We can’t just choose one of them. Both sparkling options have their own benefits. If we talk about bitcoin, you know how safe they are and how beautifully they help people to earn money. And likewise, for banks, they are safe too and investing your money in businesses and giving back some profit ratios for your benefit. So whatever suits you best, go for it. |
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Wall_Streeet
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August 17, 2018, 01:52:03 PM |
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I think the essence of bitcoin is that it does not need any organization where you need to store them. you can keep them in your pocket.
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renggileh
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August 17, 2018, 03:45:54 PM |
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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 ?
why not, as long as it can be trusted and provide better services than fiat money banks. I am sure bitcoin banks will be able to compete with fiat money banks. |
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bitlind
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August 17, 2018, 05:51:03 PM |
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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 know why but it sounds just ridiculous, because in my opinion and my understanding bitcoin and banking system is so opposite each from other that bitcoin bank for me is like decentralized centralisation. |
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rainezerr
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ADAB ADAB ADAB ADAB
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August 17, 2018, 07:13:09 PM |
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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 know why but it sounds just ridiculous, because in my opinion and my understanding bitcoin and banking system is so opposite each from other that bitcoin bank for me is like decentralized centralisation. People will only trust a market that has a good reputation, just the same as banks which means that you need to have a very good security system in order to gain trust. |
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Docbee
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August 17, 2018, 08:25:39 PM |
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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 ?
Crypto is too volatile to operate like a traditional bank we are use too, i don't think crypto price can be static except if it can be that is kind of atmosphere what you are planning to engage in can be productive. |
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DiabolicAnt
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August 17, 2018, 08:57:45 PM |
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Hmm probably I would trust you but wouldn’t use this opportunity. It doesn’t seem this convenient for me. Also, the point of blockchain is that it’s decentralized, and with your idea it gets kinda centralized.
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Loveydovey04
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August 17, 2018, 09:04:15 PM |
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I dont know what will be the purpose of bitcoin bank since bitcoin wallets already serve as banks wheere you can store your bitcoin in your own control. This way everything remains anonymous. If you build bitcoin bank, how can you make it anonymous, each holder must provide identification for each account they make.
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Brunus
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August 17, 2018, 10:14:19 PM |
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There is no sense in creating a bitcoin bank, because every bitcoin address is itself a bank.
We will certainly be able to invent new types of services, but the traditional bank is destined to die.
Why do you think they're so scared?
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kenlyresuello08
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August 18, 2018, 12:29:49 PM |
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It depends upon the situation. I will trust you if you bank of bitcoin have a high quality of security where i can asure that my crytocrurrencies are safe.
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Semosuchi Tesongrato
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August 19, 2018, 08:48:16 PM |
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A bitcoin bank is a contradiction in terms: bitcoins are already stored in blckchain, and it would not make sense to "deposit" them somewhere.
Peò, it is certainly possible to create banking services, such as mortgages, loans, leases, etc., and certainly this will happen in the near future.
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djgtr
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August 19, 2018, 09:45:51 PM |
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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 ?
Everyone can build a bank into bitcoin. If I am going to build a bank too it will surely save my money and can beat the sving into high. People will surely loves saving in bitcoin because of the assurance that can give than the other. |
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kenlyresuello08
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August 19, 2018, 10:16:10 PM |
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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 ?
Nope, I guess you must read this word. Be my own bank. Blockchain.info So, I don't think a lot of people will interest with your idea they already own their own bank. hahaha that's right the bitcoin wallet was considered as bank so maybe majority will just keep their cryptocurrencies in their wallet. |
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