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Author Topic: Will there ever be a Bitcoin Bank  (Read 3323 times)
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November 24, 2017, 10:00:03 AM
 #121

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
I don't think this is possible because if it will happen then surely the bitcoin will be restricted to a particular no. Of people in this world .
But if any site will start own site or services in offline places to accept Bitcoin then surely we can say that will be bitcoin bank like system .
Here to have bitcoin in bulk is really a big risky thing , Because if at once the price of the bitcoin will rise and then at the same time all the people comes at the bank to sell thier btc then how the bank system will pay bulk amount of money to the people ( Because of the availability and demand value of fiat will increase in that case ) .
I think it is more better that Thier is no bitcoin bank because with the direct send and receive system of the bitcoin is perfect way to make use of the bitcoin independently .


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November 24, 2017, 10:23:26 AM
 #122

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

Here in our country we have a bank that accept bitcoins in exchange into a real cash a fiat in other words. And it is a very helpful thing to us bitcoiners because we do not need to sell our bitcoins we just need to withdraw it in an atm machine. But It is not a bitcoin bank it is just an ordinary bank that innovate theur style maybe they knew that bitcoins can make their bank more successful. So they are accepting it, that is also a thing that I think makes the people in our country are now involved in this forum

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November 24, 2017, 12:28:41 PM
 #123

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
If you have thoughts of such an idea, then the bank must be independent means managed by the group that participates in the development of bitcoins and also supports bitcoins.
Because they better understand how these bitcoins work, so in terms of how to provide collateral for loans and lending, this is already in the calculation.

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November 24, 2017, 12:47:37 PM
 #124

No i do not think because bitcoin is made out of the fact that people do not trust banks why should we put something like this in a bank i think that is the dumbest question i have ever seen you cannot ask something that is made to never put in a bank to put int in a bank.

beside that, bitcoin is like a freedom for every one especially financial freedom because people manage their own money without third party and people which using bitcoin don't need to pay tax or fee for monthly. but i think the government will trying to create a new bank for bitcoin if they approve bitcoin so they can trying to control bitcoin from this banks.
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November 24, 2017, 01:40:44 PM
 #125

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
Like we hear about the bitcoin credit card which allows you to spend from your wallet bitcoin bank also don't seems impossible in the future but this will not work good.As there would be centralized control of one financial institution over its regulation and government will intervene in the matters which will give a dip to its prices as they would become more stable and it will loose its speciality and no individual control will be there and limits might be put on.So its good as decentralized currency and will remain always.

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November 24, 2017, 01:51:00 PM
 #126

I dont think there will be any bitcoin bank because the purpose of those two things is opposite, bitcoin is created for freedom decentralized while bank is centralized, and loan in bank is not helpful it got a very high interest, that is why I used bitcoin, I want to escape from bank
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November 24, 2017, 01:59:13 PM
 #127

I think if a country that prohibits bitcoin legal in that country bitcoin users do not agree with the existence of bitcoin bank, because there will be more tax if there is a bitcoin bank in that country. Better no bank because from the beginning until now bitcoin users feel safe and comfortable without bitcoin bank.

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November 24, 2017, 02:22:45 PM
 #128

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
I never heard about such a bank till this day may be in the future the regular banks start cryptocurrency dealing because they would also realize the importance of bitcoin and the trend of the people that the people all over the world are investing in bitcoin instead of keeping their money in the banks. So naturally they will find solution for their survival and they may start dealing in cryptocurrency.

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November 24, 2017, 05:15:02 PM
 #129

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
It depends on the policy of a country if there is a country that legalizes bitcoin as the official currency I think it is not impossible that the government will make bitcoin bank as a centralization for bitcoin users to store their bitcoin assets and certainly there will be a definite rule applied by the government.
For sure it is the main thing if the bitcoin will be common in the country we will have the bitcoin price, I can see the bitcoin is now increasing more and more so it will grow more if the country will accept the bitcoin and they will support the bitcoin, I am using the bitcoin and the value of the bitcoin will help the people who are using the bitcoin and they are now investing in the bitcoin and will have the bitcoin bank.


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November 24, 2017, 06:29:45 PM
 #130

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.


Maybe no bitcoin bank will ever be built because bitcoin don't need bank because it is a cryptocurrency. No need to hold it as long as you have access to the internet you can transact. Maybe we can connect to the bank because for example we need to cash out some fiat money from our bitcoin. But I think it is not necessary to have bitcoin bank.

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November 24, 2017, 07:41:44 PM
 #131

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.


Maybe no bitcoin bank will ever be built because bitcoin don't need bank because it is a cryptocurrency. No need to hold it as long as you have access to the internet you can transact. Maybe we can connect to the bank because for example we need to cash out some fiat money from our bitcoin. But I think it is not necessary to have bitcoin bank.
If everyone means banks to serve bitcoins exactly as they are today, then I would also refuse such at all. After all, there will be more difficulties and more benefits.

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November 24, 2017, 07:48:15 PM
 #132

No i do not think because bitcoin is made out of the fact that people do not trust banks why should we put something like this in a bank i think that is the dumbest question i have ever seen you cannot ask something that is made to never put in a bank to put int in a bank.
I use bitcoin and crypto currencies because I don't like the fiat money and the by governments licensed babks of the system. But this doesn't mean that I have no interest in a system independent bank that will offer some services people usually need. It is absurd to think that with the introduction of crypto currencies we sudeenly will not need any other services anymore!
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November 24, 2017, 08:23:25 PM
 #133

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
This contradicts the very idea of bitcoin. But I admit the probability of the existence of something like this. Something that will look like a traditional bank...

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November 25, 2017, 10:59:08 AM
 #134

No i do not think because bitcoin is made out of the fact that people do not trust banks why should we put something like this in a bank i think that is the dumbest question i have ever seen you cannot ask something that is made to never put in a bank to put int in a bank.
Lmao, there are still people who are novice in this community. You have been using Bitcoin for years and you never realized that there are Banks equivalents on Bitcoin which we all regard as Bitcoin banks. And you want to know some of them? I would recommend you check out Xapo if you’re looking for a service that’s equivalent to banks/bitcoin bank, but bear in mind if you need such services you will be asked to submit some details of you and also a valid ID issued out by your country’s government.

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November 25, 2017, 06:45:13 PM
 #135

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
This contradicts the very idea of bitcoin. But I admit the probability of the existence of something like this. Something that will look like a traditional bank...
It is not just the contradiction or the assumption but the bitcoin will be held by all the people and we will have the bright future with the bitcoin, I can see the growth of the bitcoin and we are going to have the best and the better future with the bitcoin. The bitcoin value will increase so definitely the bitcoin will get the bank but the bitcoin is having the wallets and I will hold the bitcoin for the long time this is going to increase the value of the bitcoin.


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November 25, 2017, 08:55:17 PM
 #136

we will have that soon.. we just need too take the digital currency step by step pal.. someone will rise that project and soon everything will be possible , and i hope someday bitcoin can work even with out the presence of the internet ..

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November 30, 2017, 12:02:32 PM
 #137

No i do not think because bitcoin is made out of the fact that people do not trust banks why should we put something like this in a bank i think that is the dumbest question i have ever seen you cannot ask something that is made to never put in a bank to put int in a bank.
No not now because the bitcoin is high in the range and the price of the bitcoin is increasing more and high if you are investing in the bitcoin you will see how fast the bitcoin will give me the bright future I can see how the bitcoin is now increasing in the price and the value I hope in the coming age we will see the bitcoin price very high I am sure bitcoin is the best and it will be the best forever.

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November 30, 2017, 12:52:15 PM
 #138

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

bitcoin banks may not exist because they are integrated directly with the blockcahin system, if a bitcoin ATM machine may exist in every country. but if the bitcoin bank does not seem to be too in need.
I agree to that. The bank for bitcoin is not that necessary because we already have the banks and those are the wallets that we can choose and use from different companies and site and they have enough security measures to make sure that we have that security that we are looking for keeping our bitcoin safe for whether short term or even long term.
Right. Everyone is free to keep their funds in their wallet and exchange it with whoever they want to exchange it with. That was the essence in the first place, which is to be your own bank and have control over your own funds which the security is totally in your own hands.

Except for making use of the exchanges to convert into fiat which is the highest we will ever see being close to banks, they won't be necessary in the long run, when adoption becomes pretty huge.



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reamlady
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November 30, 2017, 02:11:13 PM
 #139


I have been considering this idea too, but in my own opinion, if this does happen bitcoin will become a restricted cryptocurrency and could lose its essense as an unmanipulated cryptocurrency.
superjeyy
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November 30, 2017, 05:56:53 PM
 #140

Having a Bitcoin bank may be a good idea since we always have this constant fear that our wallets can be hacked anytime due to the the development of programming and how smart people can get, but having a bank for Bitcoin will defeat its purpose of financial freedom. Bitcoin allows us to be in control and not have any parties involve with our cryptocurrency. With banks keeping it safe for us, they would for sure make something out of it and we will end up not enjoying the benefits of Bitcoin like we do now. Maybe a bank can be established for Bitcoin if they changed their rules about it. Hopefully it doesn't cover the set of rules established for fiat as it will burden us.

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