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Author Topic: BITCOIN BANK  (Read 187 times)
CoinREAPER21
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November 11, 2017, 12:00:42 AM
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I am always wondering that what if bitcoin will build an organization where they will handle their own bank. It is another way for bitcoin to be legitimize worldwide and become a fiat currency. Bitcoin nowadays is one of the best payment method and form of investment worldwide! Specially if it will be properly regulated. What do you think guys?

Is it possible for bitcoin to build their own bank? Is it best for them to build a new age bank where all your cryptos will be properly handled and back up by bitcoin? Just like a normal transaction with legit banks.
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fusepay
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November 11, 2017, 12:05:53 AM
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There are some banks that work with and accept BTC, there are also some payment providers that offer physical pre paid debit cards such as Wirex, I have used one of their cards for some six month now, never had a problem with the transfers and dashboard, and is a secure system too -  you can take a look at my affiliate link on https://app.wirexapp.com/join/YbgEAbuN7kqrwOaIMx837Q

More and more banks are getting on the train and developing and integrating blockchain systems, they oppose but welcome with open arms our Cryptocurrencies... after all with the predicted demise of the banking system, as we have all known it, there are some very very exciting times ahead, and we are all a part of it!
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November 11, 2017, 12:09:42 AM
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Bitcoin is decentralized. That's not a bug, it's a feature. If you create a "Bitcoin bank" the whole "decentralization" concept goes away, so I don't think that would be a very good idea.
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November 11, 2017, 12:15:52 AM
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If you think logically governments are going to do something against bitcoin because people are making transactions and also earn profits through bitcoin without paying any taxes. Maybe governments think to create a bitcoin bank so people can hold their bitcoin there and receive a card to buy from every shop. Anyway this is a complicated thing and it is going to take a few years until this(if) is going to happen.
The idea itself is bad of course for bitcoin users because bitcoin was created to be a decentralized currency so people can use it free without paying taxes to government

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November 11, 2017, 12:19:21 AM
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Bitcoin is decentralized. That's not a bug, it's a feature. If you create a "Bitcoin bank" the whole "decentralization" concept goes away, so I don't think that would be a very good idea.

Precisely. This idea has been forwarded before and the main reason why it can't be done (or at least nobody is seriously thinking about it) is because that would have been an anathema against the very foundation concept of Bitcoin. Bitcoin is not a corporate entity that would be fighting all of its competitor in the global scale...this is a very different 'beast' that is really unique on its own something that has never been done before nor existed in any form.

However, nobody can stop anyone to put up a bank of his own that can accept and work with Bitcoin and that idea can actually be good. In fact, there had been some ICO projects presenting that kind of idea though they may have their own version of cryptocurrency but may still be integrating with Bitcoin as is customary with all the other coins or tokens we do have in the market.

By the way, welcome to the forum. I understand that this is your first post and rather than asking non-sense post you preferred to make a good reply.
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November 11, 2017, 12:28:25 AM
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If you think logically governments are going to do something against bitcoin because people are making transactions and also earn profits through bitcoin without paying any taxes. Maybe governments think to create a bitcoin bank so people can hold their bitcoin there and receive a card to buy from every shop. Anyway this is a complicated thing and it is going to take a few years until this(if) is going to happen. The idea itself is bad of course for bitcoin users but for some of them is good.
and  impossible to do,in crypto our privacy is at stake and making bitcoin bank will took out that privacy.and your right mate its our obligation in government to pay taxes so how could the government charge our taxes when were banking inside crypto world.

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November 11, 2017, 01:02:37 AM
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Today a lot of people buy, sell bitcoin. The bitcoin market is expanding constantly .
There are organizations, companies that own large amounts of bitcoin for profitable investments
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November 11, 2017, 01:07:17 AM
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The essence of peer-2-peer cryptocurrency will be lost. So, it won't make sense. But, governments will create their own cryptocurrency to be issued by their federal/central banks

The idea of bitcoin was that no one body controls it

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November 11, 2017, 01:09:00 AM
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bitcoin banks in my place are still in certain areas, and even then provided for foreigners who visit our country, we here can not enjoy it, but it is new thinking in my opinion in the development of payment systems and transactions are simple Grin Grin

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November 11, 2017, 01:11:28 AM
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I am always wondering that what if bitcoin will build an organization where they will handle their own bank. It is another way for bitcoin to be legitimize worldwide and become a fiat currency. Bitcoin nowadays is one of the best payment method and form of investment worldwide! Specially if it will be properly regulated. What do you think guys?

Is it possible for bitcoin to build their own bank? Is it best for them to build a new age bank where all your cryptos will be properly handled and back up by bitcoin? Just like a normal transaction with legit banks.

Bitcoin itself cannot make its own bank but there already companies that started debit cards on behalf of Bitcoin and now those companies are starting banks for Bitcoin and ETH, not to advertise but one of the banks that is upcoming is Spectrocoin.com and they have an ICO for it too being launched in a week from now.

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