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Author Topic: Will there ever be a Bitcoin Bank  (Read 3490 times)
Awraawra
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December 07, 2017, 11:58:35 PM
 #201

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.
as my opinion i am only new in bitcoin but i believe that there will be a bitcoin bank,it is really better if there will be a bit coin bank so that we can save our money in a bit coin bank for safety.

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December 08, 2017, 08:23:15 AM
 #202

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 is a formation that emerged against the bank. It has emerged against the negativities presented to us by the current economic system. you already have a banking system called blokchain.

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December 08, 2017, 08:32:33 AM
 #203

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.
As you can see in our society, bitcoin's price is very high and its popularity is also increasing. It is not impossible that there will be a bitcoin bank. Wherein you can exchange bitcoin to any type of currency.

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December 08, 2017, 08:44:45 AM
 #204

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.
As you can see in our society, bitcoin's price is very high and its popularity is also increasing. It is not impossible that there will be a bitcoin bank. Wherein you can exchange bitcoin to any type of currency.

There are a lot of exchangers online so I think you don't need to worry about getting your bitcoin changed in any type of currency. Wtih a lot of bitcoin users flourishing,Bitcoin bank may have a huge possibility but for me, I want to keep my bitcoins out of the bank, I want to keep my balances in other crypto currency private. It is not that I don't have a huge number of bitcoin but I just want to keep it for myself.
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December 08, 2017, 03:36:30 PM
 #205

If the bank  will present in the territory of a country that does not prohibit the existence of bitcoin the possibility of a bitcoin bank will occur. and will be very helpful for the bitcoin legality and cause   more attract  to new bitcoin users.
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December 08, 2017, 06:23:12 PM
 #206

There are a lot of exchangers online so I think you don't need to worry about getting your bitcoin changed in any type of currency.

I guess the problem with exchanges is that they are not trustworthy. People only use them because they have to use them, almost nobody trusts them really. And its likely that they are doing shady business and market manipulation to take profits themself. Thinking that this doesnt happen is just naive is my opinion. Why? Because they have the power to do so and nobody stops them. If there will be decentralized exchanges that work well and without control of people, this will be a think people can trust in the future, Im really looking forward to decentralized exchanges to take over!

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December 09, 2017, 11:08:44 AM
 #207

I don't think bitcoin bank will be introduce because I think the market don't need it anymore, the on-line wallet we are currently using already have the features of a bank and it is more improved because it can handle fund all over the world also for me it is more safer to use our wallet than putting them into a bank because the risk that bank owners may do manipulation and take our bitcoin is very likely to happen.

Until we start seeing much more usage without having to make use of exchanges in either converting to fiat, then exchanges will keep working as banks. I registered on LUNO exchange the other time and they collected all the credentials including my legal identification before I could proceed.

They have some regulations they have to stick with to prevent money laundering and as far as I am concerned, that is more of a bitcoin bank or crypto bank to me.

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December 09, 2017, 11:50:43 AM
 #208

a bank for cryptocurrency, ok but apart from a safe I do not see what else it can offer, because the very principle of bitcoin is to be decentralized
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December 09, 2017, 11:58:16 AM
 #209

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.
Possible but I am not sure o  what will be its function since there are wallets where users and investors may store their Bitcoin for a long period of time. Given that Banks are under the government while Bitcoin is nit because it is decentralized, makes it dofficult to believe that it will exist in the future. But let's just see it for ourselves.

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December 11, 2017, 11:24:33 AM
 #210

I think it is the nano ledgers or the trezor wallet is considered as bitcoin bank because it has the maximum security and offline transactions can be made through the wallet. Pretty much a bank to me but it doesnt have the term of a bank to them but it is to me.
The main essence is to have something secured where you can save your money and as long as you can do P2P transactions, I really do not know why we even need bitcoin banks or have anything to do with all these centralized exchanges. However, based on the OP's suggestion of being able to get a loan, it is better he sticks with the traditional banks but I still feel some services like this can come up later on.

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December 11, 2017, 11:38:20 AM
 #211

If such a bank is created, it will not be soon. With such high volatility, there is no point in giving out loans, no one can repay them. In addition, who will guarantee the safety of bitcoin deposits?
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December 11, 2017, 11:40:18 AM
 #212

My point of view is it is not going to be ever bitcoin bank. Anything can happen that we cannot assure also. My opinion is instead of having bitcoin bank I believe and confident about it also that all world bank will accept bitcoin this is possible and logical also. Any have cryptocurrency is the future banks also not have other option except accept it or else invent their own cryptocurrency to compete with bitcoin that is not possible also they cannot give benefit like bitcoin giving to its holders.

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December 11, 2017, 11:44:13 AM
 #213

I hope the bitcoin bank will exists. to provide regulation, to oversee transaction activity, whether it is a government legitimate transaction or not. because it would be very useful for the government to see activity bitcoin as a means of transactions, does for illegal goods, such as drugs, terrorist financing and others.

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December 11, 2017, 11:46:25 AM
 #214

The practical problem in creating a bitcoin bank is who is going to handle it and how it is going to organized sector which very complicated thing. So bitcoin bank is not going to happen atleast for next 5 years. One thing will be sure happen All banks will accept bitcoin with all country government approval will be there. Lot of thing is not practically solved with bitcoin due to the rate if we get into all these things it will affect bitcoin performance and investor will not gain like now in future. It is better for us to only upgrade technical things only not in the corrupted banking system.

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December 11, 2017, 12:00:37 PM
 #215

hahah this question is hilarious why do you think bitcoin is favored and liked by many because shitty banks not involved...

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December 11, 2017, 12:03:50 PM
 #216

Bitcoin bank seems like a good idea, maybe we can see it in near future, especially if bitcoin price continue it's growing pace.

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December 11, 2017, 12:05:24 PM
 #217

I'm sure there will be a bitcoin bank in the near future, if there isn't one already. Just because the currency is decentralized, doesn't mean you can't have centralized fragments of it (banks). Obviously they won't have total control over your money like a bank, but I'm sure there will be banks offering wallets, overdrafts, loans etc, with ID verification required etc just like a fiat bank.



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December 11, 2017, 12:05:47 PM
 #218

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 do not like the idea of a bitcoin bank but it is very obvious to me that it is going to happen, banks are going to realize at some point they are losing business to bitcoin and they are going to begin to accept bitcoin as a deposit, I do not think it is going to happen yet because most of the people in bitcoin at this time are people that have a strong ideology about what is bitcoin, so most of us have strong feelings against banks, but as bitcoin becomes more popular and everyone begins to use bitcoin then we are going to become a minority and at that point a bitcoin bank will be a real possibility.
We can not limit the possibility when it comes to bitcoin. If we look back on the history of traditional money, as market progress, people find ways on its innovation, how to make it a centralized tool, and improve its security. Banks intended for bitcoin might be a reality someday, but it would take a lot of studies and research as we goes on to this digital world.

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December 11, 2017, 12:34:40 PM
 #219

Bitcoin bank seems like a good idea, maybe we can see it in near future, especially if bitcoin price continue it's growing pace.
A bank not gonna help Bitcoin to grow it's price. It just turns things into the mess. Sometimes, Chaos are the better than Orders.

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December 11, 2017, 01:07:18 PM
 #220

If such a bank is created, it will not be soon. With such high volatility, there is no point in giving out loans, no one can repay them. In addition, who will guarantee the safety of bitcoin deposits?

if the bank is made by us, it will likely take quite a long time. because we do not have keadhlian to create a bank used for bitcoin transactions. but this time for bitcoin banks that already exist in every country, but not many.

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