Will there ever be a Bitcoin Bank

[Rhaizan]

I think the presence of a bitcoin bank is a very good thing, the bitcoin bank function is like a wallet and can guarantee the security of the bitcoin we keep, and I hope it will be realized soon.

Yeah this is a good idea, in that case we know that every time we save our money in bitcoin bank we know that this is safe and no one can hack that because we are the only person can widthdaw our money in bitcoin bank.

[ASHLIUSZ]

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.

For me, yes It can be possible but I think It would be very difficult .. A normal bank as in retail earns profit from giving loans and collecting interest payments. And I think with ethereums smart contracts they can do this with the crypto currencies. So It would also be easier to operate, the only problem is default on loans. Not sure how they would incorporate having collaterals in a bitcoin bank.

We have got the possibility to see banks operating with bitcoin in large numbers in future when more and more people get into the cryptocurrency world. Already in few countries there are banks functioning completely on bitcoin, one such is the Nova Scotia bank in Austria.

[migolmigol]

I think yes there will someday be a bitcoin bank. But of course bitcoin are still stored in address through the web or internet but what I am talking about is that the bitcoin bank may be a physical store that can talk to clients and address their concerns about their address or other cryptocurrency activities. Maybe also they may accept the writings whether who can get the bitcoins whenever the owner might be gone. They can also maybe give guidance who wants to start mining rig.

[jonemil24]

Bitcoin having a bank is like making it more centralized. It was created to escape banks and make you your own bank, just by having an access with your own private key. But you can put your private key to a bank.

[uptown04]

if there would be a bitcoin bank wouldn`t it be a contradiction to the bitcoin`s main mission and vision.?

[Granslam]

As i know there is already a bank for bitcoin i just can't remember where country it is but i watched a video on facebook and lots of people are buying and depositing their money which is a good news for all of us because bitcoin's price will increase but is it not alarming ? that we are all greed for it ?

[PrinceCaspian]

I think there will be no bitcoin bank in the future because the hardware wallets like ledger nano is already a bank because it is safe and you can control all your funds without worrying for any problem and that is the point of having a bitcoin wallet because you will be dealing for having a bitcoin bank without having any problem. Just buy hardware wallets.

[Prodigye]

The whole point of bitcoin is to create a decentralized currency, making a bank to distribute and control it would just defeat the purpose of it so no.

[deadthings]

Probably but for me it won't have any more usage than selling, buying and helping clients, for me it could happen in future when it will be more popular to purchase things on a global scale.

[Clover_Faith]

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 so hard to build a bank of bitcoin because bitcoin is not legal here in our country. And also i think it hard to change fiat to bitcoin because fiat is a a traditional money or national that people use in every country. i think its also good to have one but we need bitcoin to exchange into a fiat if we have a bank of bitcoin.

[astrid.uchiha24]

I don't think so, bitcoin's supply is very limited and it works on a decentralized network so even if some billionaire will make a bank for bitcoin i think that will not work as holders can make their bitcoin keep on personal digital wallets.

[HoaNguyen]

In my opinion, banks simply help us to make transactions such as sending money, withdrawing money, being intermediaries assuring the payment, making the payment become safer. And Bitcoin is very much in need of intermediaries because Bitcoin transactions are completely anonymous. If you mistakenly place the address, the Bitcoin number will be lost, cannot be retrieved. So if Bitcoin wants to be more popular then it is important that the bank mediates in all Bitcoin trading.

[xandra]

If there will be a bitcoin bank then the true meaning of bitcoin is useless,bitcoin is a decentralized which means to distribute money without the authority of the government while bank is the opposite meaning of bitcoin and bitcoin will have a bank?i don't think so mate. people are been hooked by bitcoin because of it's big value and easy process of transferring money to other people nation wide.

[nethan1btc]

I don't think so, bitcoin's supply is very limited and it works on a decentralized network so even if some billionaire will make a bank for bitcoin i think that will not work as holders can make their bitcoin keep on personal digital wallets.

Everything has a limited like our fiat currency and if there's no limitation there will improper circulation of our money that we all used for every transaction and in my own opinion. Why the OP thinks about this a kind of thing it is because he might think if there is bank for bitcoin we can store our bitcoin without fluctuating it's value. So meaning to say it's made our bitcoin stable without worried about the sudden hard fork in it.

[eastgrand]

I know I'm a noob, but isn't Bitcoin already like a bank without a bank? You hold it, and  have access to it with your private key. Banks charge fees and need to make profit on top of paying their employees. I completely dislike the idea of a Bitcoin bank.

[dmamigo]

I know I'm a noob, but isn't Bitcoin already like a bank without a bank? You hold it, and  have access to it with your private key. Banks charge fees and need to make profit on top of paying their employees. I completely dislike the idea of a Bitcoin bank.

I think Bitcoin will be regulatedbin few countries, regulated. Regulation like strict exchange with KYC mandatory and tax implementation. This would probably the worst thing that could happen to Bitcoin along with other Altcoins also. The unrecognized exchange could be kind of banned and access restriction could be implemented. Let it be out of Banks and Government.

[Shimmiry]

It's possible because bitcoin now is like a gold that anyone wants it. So its very feasible for someone who wants to banked it and sell to other people but most likely you will need to have big funds. But if they want to create a bank for bitcoin they should limit the online wallets because it is more easy to have than bank accounts more likely its very rare to find one if it is created.

[Yatsan]

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 there will be no such thing. E-wallets are usually the storage of Bitcoin users and investors. So I think there will be no need of Bitcoin bank for wallets are already there. But it if this thing will exist, it will depend on the users wether they will use it than the traditional e-wallets. But I myself, won't use it because I'm satisfied with e-wallets.

[komjhq]

It's possible because bitcoin now is like a gold that anyone wants it. So its very feasible for someone who wants to banked it and sell to other people but most likely you will need to have big funds. But if they want to create a bank for bitcoin they should limit the online wallets because it is more easy to have than bank accounts more likely its very rare to find one if it is created.

perhaps I do not understand something, but since there was already a practice of communicating with the banking system in real life, I would be against creating Bitcoin Bank. Thus, the bank will remove the independence of Bitcoin users. And I think that this is unacceptable.

[Mr.X(999)]

In my opinion, no but maybe it will. bitcoin didn't need any bank. if there's bank of bitcoins, it must really be very complicated. bitcoin is simple, if bitcoin using a bank, there must be a lot of policies and rules that are really bad.