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Author Topic: Will there ever be a Bitcoin Bank  (Read 2769 times)
Sengoko
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December 07, 2017, 11:19:50 AM
 #181


They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.
For me it really depends in the country if one country is open for regulating bitcoin or is making bitcoin legal has the possibility that country will open for a bitcoin bank. Banks are intelligent enough actually here in our country they are confused already what bitcoin is because a lot of users are using this one.
Bankers are smart people. You shouldn't underestimate them. The existing banking system may not be the cryptocurrency. This is not because banks do not want to make a profit. They can't come up with a mechanism for the application of cryptocurrency. Banks is one of the tools of the government control finances. Therefore, banks will never use crypto currency which is not controlled by the state.
I think when everyone will have bitcoin then banks are not in that much need because bitcoin itself is a bank and all it do is to store the money of investor and return profit over it and banks are completely rubbish in front of bitcoin and in my view banks have no future all they have to shut the banking system and adopt the bitcoin system to have high profit without any interest and yeah this is much better than banks.

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December 07, 2017, 12:10:41 PM
 #182

I am sure that there is some teams already thinking at this aspect for some time. Now nobody can predict a date for such things but a Bitcoin Bank is inevitable, i wonder what will be the politics of this bank considering that bitcoin is developed on decentralized technology.

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December 07, 2017, 12:15:25 PM
 #183

bitcoin backed fiat? Maybe who knows... it would remove the risk of loss dramatically for the depositors. There would probably be the need for a deposit and withdrawal fee.
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December 07, 2017, 12:16:59 PM
 #184

In my country i dont ever heard any bitcoin bank. But if times come that the organizer or founder of this certain bicoin it is better for us or to all users of bitcoin. Because when theres a bank we can easilly access directly.
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December 07, 2017, 12:20:16 PM
 #185

I don't think this is possible because first of all, one of bitcoin's features is that it allow transactions without risking your privacy and security. Loans and such, which you have mentioned, is not easy to process because it requires info (most of the time private ones) for them to be able to reach you if ever you decided to run from your obligations.
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December 07, 2017, 12:38:54 PM
 #186

A bank strictly speaking, I don't think so. It's too opposite to the way Bitcoin works. It's a decentralized network, what's the point to open a bank? What would you do in a bank?
However traditionnal bank could help their customers to buy bitcoin or change bitcoin into fiat.


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MrRiuss
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December 07, 2017, 12:42:08 PM
 #187

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 dont think so, but it is possible if bank can exchange bitcoin
emma46
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December 07, 2017, 02:14:38 PM
 #188

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.

With bitcoin's popularity rising up, there is a probability that there will be a lot of bitcoin users. Therefore, having bitcoin banks is bound to happen. The users of bitcoin need to have assurance that their precious bitcoin will be secure and stored properly.

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December 07, 2017, 03:49:41 PM
 #189

A bank strictly speaking, I don't think so. It's too opposite to the way Bitcoin works. It's a decentralized network, what's the point to open a bank? What would you do in a bank?
However traditionnal bank could help their customers to buy bitcoin or change bitcoin into fiat.



i think now the number of customer of bitcoin is not reach to the high level that bitcoin administrator create some banks for bitcoin but still there are no such areas where bitcoin is accepting as a payment. it need more time so that bitcoin become famous more and more in world and get maximum number of users from the whole world then the possibility of bank system for bitcoin will be increased.

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December 07, 2017, 04:13:52 PM
 #190

It's really possible in our world that the original concept of bitcoin can be perverted. Banks are not stupid and they can invent some services including BTC to attract modern generation

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December 07, 2017, 04:25:44 PM
 #191

I definitely agree that banks are useful and an instrument that many people need to cope with their finances. Not everyone is capable of taking responsability of their own finances. So I think yes, there will be something like a crypto bank (or Bitcoin bank). I would love to see something from the community for the community, decentralized but with proper working governmental mechanisms built in to let people vote etc. I am sure we will see something like this in the future, maybe with governments interfering of some sort or it comes from the community itself.

Sweeet123
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December 07, 2017, 05:53:03 PM
 #192

Why anyone convert everything that is decentralised to the centralised one? This will disturb the way everything works in the crypto currency. They will have no more use and no body will interest in it because all the prices for those assets would be controlled by financing system which is nothing apart from the current traditional assets like government. Plus those countries which don't have taxes on it they will levy the taxes also. So in short everything will collapse for bitcoin and it could not be better place to trade at.

True! The main advantage of bitcoins is decentralization, having a bank is going to take away that advantage, and not to mention that government would start intervening in the matters of bitcoin which could drastically affect its valuation

TTITA
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December 07, 2017, 06:47:04 PM
 #193


They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.
For me it really depends in the country if one country is open for regulating bitcoin or is making bitcoin legal has the possibility that country will open for a bitcoin bank. Banks are intelligent enough actually here in our country they are confused already what bitcoin is because a lot of users are using this one.
Bankers are smart people. You shouldn't underestimate them. The existing banking system may not be the cryptocurrency. This is not because banks do not want to make a profit. They can't come up with a mechanism for the application of cryptocurrency. Banks is one of the tools of the government control finances. Therefore, banks will never use crypto currency which is not controlled by the state.
I think when everyone will have bitcoin then banks are not in that much need because bitcoin itself is a bank and all it do is to store the money of investor and return profit over it and banks are completely rubbish in front of bitcoin and in my view banks have no future all they have to shut the banking system and adopt the bitcoin system to have high profit without any interest and yeah this is much better than banks.
for now banks still have an important role in controlling financial roles.
if any later will be present bitcoin bank, of course with in the appearance of policy and regulation very tight.
the current banking system, has persisted for decades, those who have been loyal to the bank system still have confidence in safe investments that are protected by the government.
this is in stark contrast to the blockchain system itself, with decentralization creating everyone's chances to control their respective financial wallets, so that existing government controls and regulations can not reach out.

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December 07, 2017, 06:59:04 PM
 #194

According to me the whole concept of bitcoin was to eradicate the existence of bitcoin.Hence you are here again creating a post that there might be a bitcoin bank which is highly unlikely to happen. On the other hand i would like to point out that cryptocurrency exchanges are the next big thing. So it is highly likely that they will be controlling most of the bitcoin market.

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December 07, 2017, 08:21:29 PM
 #195

According to me the whole concept of bitcoin was to eradicate the existence of bitcoin.

My guess is that it wont be possible for Bitcoin or other currencies to become really mainstream if they wont let the governments interfere in some kind. How this will be implemented is another question, but that the governments wont let cryptocurrency take over the financial system, without them having their fingers in somehow, is for sure in my opinion. Its naive to believe the opposit.

senne
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December 07, 2017, 09:38:18 PM
 #196

No, who needs banks for Bitcoin. I think Bitcoin is a decentralized system and moreover helps to make anonymous transactions. And going to banks will definitely reveal your identity. Bitcoin can easily be learned online about its basic functioning and usage, further its functioning is complicated but easy to use. Also, we have miners which help in maintaining Bitcoin transactions so there is no place for Bitcoin Banks and also government won't fund for such building from where they will get nothing in return.

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December 07, 2017, 10:16:58 PM
 #197

Probably soon bitcoin company will make banks, because people need help too often, sometimes cant transfer bitcoins or bitcoins goes in wrong place, and people must write at support email and waiting for an answer, no one knows how much, and if bitcoin will create banks in every country where have legalized bitcoins or will legalize, then people will be able to go there and they will can get an answer at any question.
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December 07, 2017, 10:58:51 PM
 #198

I guess there would still be bitcoin banks to be established in the future although bitcoin's system enough to do not need banks people might still go for that idea specially those who are skeptics in their own wallets and security. I actually have seen some cryptocurrency banks popping in the web so I guess its starting.

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December 07, 2017, 11:20:54 PM
 #199

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.

Yes. I believe that someday there will be a bitcoin bank because we all know that bitcoin isn't that fsr from the reality tgat somehow it will be a option in oir currency. We all can see how bitcoin today is very progressive and very good in terms of different aspects especially financial so for me it is not impossible to get an bitcoin bank.

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December 07, 2017, 11:22:58 PM
 #200

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 think it is possible. Eventhough bitcoin is decentralized and not hold by a person or a specific country. It will somehow find its way to have a bitcoin bank. Bitcoin will be the one who will make its and way. And we all know that bitcoin is very good in terms of the value because today it is very high and people will be happy if bitcoin bank will establish.

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