Build a Bank Of Bitcoin

[Zadeket]

Why we need bank of bitcoin if we can easily opening bitcoin wallet. Bitcoin wallet is like banks account and thats why banks afraid if bitcoin spread wide and used by many people.

One day when bitcoin has become a world currency, bitcoin banks may need to be established. It is necessary to carry out the regulation of bitcoin among tax-related countries, and minimized the use of bitcoin for illegal purposes, such as drug trafficking and terrorist financing.

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[walemil]

How will this be possible? Bitcoin is meant to be stored in individual wallet which a person has control over and bitcoin works with decentralization. Bank works with account number in a centralized setup. How do you intend to keep people's bitcoins?

[horrifiedx1]

How will this be possible? Bitcoin is meant to be stored in individual wallet which a person has control over and bitcoin works with decentralization. Bank works with account number in a centralized setup. How do you intend to keep people's bitcoins?

i think that might be possible, but i have not been able to find the answer, it happens if government legalizes it, so government has a role to do all policies that they think are good

[Morning honor]

Mostly here prefers to no bitcoin banks! We cannot please all users,investors to support your plan eventhough its just a test to make or having your opinion.

[Leyss]

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 ?

If such a bank already existed, it would have gone bankrupt this year. Cryptocurrency is very unstable in price and therefore I do not recommend engaging in such a bank. Even if you make a profit for the first time, in the end such a bank will burst. Yes, and create such a bank is not easy. It is better to observe whether old bank employees will create such banks. They are well able to calculate such risks. However, it seems to me that such a bank would be unprofitable.

[FunGate]

Standard banks might beat you to it.

https://www.cnbc.com/2017/12/18/central-banks-will-hold-bitcoin-and-ether-in-2018-blockchain-ceo.html

"Central banks will begin holding bitcoin and Ethereum next year, Peter Smith, CEO of Blockchain said.

Smith also said that central banks will begin to issue their own cryptocurrency."

I do think that a bitcoin bank would defeat the purpose of decentralization, but I do believe that there needs to be more secure and beneficial ways to store crypto (and loan it), which could be achieved through more secure crypto exchanges.

[Brunusmagnus]

There is always someone who occasionally goes out with this story.
A bitocoin bank does not make sense, because the blockchain is already a bank, so it is not clear what should be deposited.
I hope banks will disappear forever.

[Bonsaiav]

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 ?

If you ask like this, of course we are confused what to answer. Because the foundation doesn't yet exist, the location's not clear, let alone service and security, how we can trust something that doesn't yet exist.
As a bank of bitcoin it means that it can function as a financial institution or as a forum for the economy of the people in the surrounding area. And this is mandatory especially in fostering trust in the eyes of society. I think this's the first step which you must do because this is where the beginning of each assessment will be present.

[yurekaa]

in my opinion it's very difficult. it's very difficult to get trust from others. there is currently a lot of fraud and hacking of exchange sites and trading of crypto currencies. so it's impossible if you want to make bitcoin storage services like banks in general. and the crypto currency has a volatile price so that the interest that will be earned each month will be different even though the amount of our assets remains the same every month.

[gamechangers]

A bank of bitcoin? It could be a good idea but how will this be achieved because I think it is going to be very difficult judging from the way bitcoin should be kept. How do you intend to collect people's bitcoins? Are you doing that in a single wallet? More information please.

[darefreads]

Many people are gonna confused if they gonna trust your bitcoin bank, as we know that online currency is so volatile many people can blame you that if you keep their bitcoin you because the amount that they lost in the bank is bigger than what the interest should get in thier bitcoin that you keep.

[maligu]

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?

[JuneTaro]

More people choose bitcoin than other payment methods because of its anonymity. If we build a bank for direct dealing as a traditional transaction, then maybe many will not come here a lot, I think so, my own opinion.

[Hellguys]

This is a good idea. Crypto is an important industry, there are smart people involved and there are so many exciting ideas offered that can completely change the way people do business.

[toast]

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

[Janation]

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 would we need a Bitcoin Bank? The reason why Bitcoin is made  so that we users ourselves can manage our currencies to ourselves with no help to third parties like the banks.

Making a Bitcoin Bank breaks the usefulness of Bitcoin in terms of that feature of it. I can manage my own Bitcoins and I don't need Bitcoin bank for that. I guess if there will be a thing closer to Bitcoin bank, it will be called the Exchange. Exchange is more closer to Bitcoin Bank since most cryptos are there being saved but not the only purpose of saving it but for it to be sold in the near future.

[yusupjatigumilar]

I dont think this will click. Bitcoin is not meant for bank. Its not the purpose of bitcoin. Bank is centralized while bitcoin is decentralized system. We dont want our identity revealed. Plus, no banks ever done this before, afaik. Why dont you build an exchange rather than this? Exchange/lending service, that would be great.

I agree with your opinion that bitcoin cannot be equated with traditional banks, apart from being decentralized, bank services are not only about saving money but many other things that can be given to the community as bank services, including credit, deposit, insurance and others

[Gibreil]

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 is your problem with bitcoin? Are you contented of its purposes? Bitcoin does not need bank, it needs investors like us, I consider blockchain.info and coins.ph as bank and it never change the way I define bitcoin. In fact, it is more safe and secure when we are using this wallet because anytime, we can withdraw it. There are no more procedures as long as you have gas then you can make your own transaction. Do not build bank, invest in bitcoin rather.

[Kez1817]

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.

[Beparanf]

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.