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Author Topic: Will there ever be a Bitcoin Bank  (Read 3497 times)
Mr.X(999)
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January 07, 2018, 11:18:52 AM
 #341

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.
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January 07, 2018, 12:19:06 PM
 #342

The bank can not successfully work with such high volatility of bitcoin and other cryptocurrencies. It is impossible to work with loans and deposits at such fluctuations in value.
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January 07, 2018, 01:41:42 PM
 #343

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.
Well, I think it is possible to have fully functional bitcoin bank in the future since the are great projects such as Crypterium and Worldcore started popping. In believe in time everything is possible and achievable in the cryptocurrency ecosystem.



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January 07, 2018, 01:55:42 PM
 #344

No need for a Bitcoin bank because you can transact your payment anywhere and that is one advantage of Bitcoin.

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January 07, 2018, 01:59:04 PM
 #345

No need for a Bitcoin bank because you can transact your payment anywhere and that is one advantage of Bitcoin.
if I think it's bitcoin need a bank as a bitcoin transaction. not just online but in the world it's needed, because it proves that bitcoin is growing in the real world, not just the world of fantasy.

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January 07, 2018, 02:03:40 PM
 #346

I hope it will never happen. Because in my opinion, it will cause many problems. Local bank activity will be disrupted if there will be bitcoin bank. Let's keep it this way, no bitcoin bank.

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January 07, 2018, 04:25:09 PM
 #347

We all know bitcoin as a decentralized currency. Once it have its own bank, it will become centralized. Manu features we know bitcoin have may be lost. Also, it is a digital money. A cryptocurrency. We have our wallet so I don't think that having a bank is necessary.

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January 07, 2018, 04:30:10 PM
 #348

I think if humans are good at one thing it is innovating, it seems counter-intuitive but who knows. There might be a situation where like an old-fashioned bank risk in lending money is shared amongst depositors. and reward is shared amongst depositors.

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January 07, 2018, 06:13:08 PM
 #349

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 still possible for bitcoin to have it's own bank. Bitcoin users were having a hard time on how to keep thei earnings in a safe and trusted bank where in they can encash it anytime without limits. Banks always look for a lot of requirements before you store your earnings and it'll be hard for us to find an explanation on where did we get our money.


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January 08, 2018, 03:46:23 PM
 #350

I absolutely believe that Bitcoin banks will be, in fact technically every ATM works as a bank. Banks do not consist only of buildings. The costs of building and working banks are very high.



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January 08, 2018, 04:21:24 PM
 #351

I dont think so, firstly Bitcoin is already decentralized and people can easily and securely store it into their highly secured wallets. Secondly crypto currency users and fans don't like the banking concepts usually and they deal with crypto currencies mainly because it is still decentralized.

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January 08, 2018, 04:41:18 PM
 #352

The bank can not successfully work with such high volatility of bitcoin and other cryptocurrencies. It is impossible to work with loans and deposits at such fluctuations in value.

Banks will be banks, and I don't think that the volatility of bitcoin and other crypto currencies or digital currencies will affect this banks, if it was implemented since their only job is to be a place where people save their bitcoin and other crypto currencies, they are not exchanges that will be converting your bitcoin into digital currencies, and I think if they are converting, I think they can accept that fact since it will really happen when you are an exchange of a digital currency.

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January 08, 2018, 05:12:03 PM
 #353

The whole point of having a bank is to regulate money in a particular region and this is exactly the opposite of what Bitcoin proposes, decentralisation. Banks are centralised bodies which are run by the government/private agencies whereas Bitcoin is decentralised in nature, having no regulating authority so no, there won't be any Bitcoin Banks in the future either.
Actually speaking of Bitcoin, I think there will be a Bitcoin banks when Bitcoin really grows and makes the currency traded and distributed in all the countries in the world, but that's a long way to go
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January 08, 2018, 11:21:38 PM
 #354

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.
No, bitcoin wouldn't be made stable mate because right now these days the economy of bitcoin was still not stable. And yet most of the people viewed bitcoin as a trading asset, not a currency same as what we used for daily spending which was the fiat cash money. Even though we got a bitcoin bank it has no exceptions to the hardfork that will going to happen, well it will still be affected.

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January 09, 2018, 12:30:32 AM
 #355

With the current trend of bitcoin who knows someday there will be Bitcoin Bank of the World.

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January 09, 2018, 02:52:32 PM
 #356

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.
No, bitcoin wouldn't be made stable mate because right now these days the economy of bitcoin was still not stable. And yet most of the people viewed bitcoin as a trading asset, not a currency same as what we used for daily spending which was the fiat cash money. Even though we got a bitcoin bank it has no exceptions to the hardfork that will going to happen, well it will still be affected.

Yes, you have a point. But I beg to disagree on bitcoin as trading asset and not currency. Yes, bitcoin may viewed as an asset but it can still be considered as currency. Bitcoin is a digital "currency" from the word itself, you can't really say that it's not a currency. Yes, we're not using bitcoin to buy our daily necessities, however, we used it as our way to earn money. Since it is digital currency,  we have to convert it into fiat currency to be able to buy our needs. We can still use bitcoin in stores who accept bitcoin as mode of payment. To sum up with, bitcoin may considered as a trading asset and at the same time, a currency.
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January 09, 2018, 03:39:10 PM
 #357

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 it is possible since bitcoin is a great investment. A lot of bitcoin users are waiting for it because most of them don't know where to keep and store their money safely. Most of banks these days has fraud issues that affects the earnings  of most people who trust banks. Most of the banks these days don't worth our trust so I wish bitcoin would build their own bank.

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January 09, 2018, 04:20:56 PM
 #358

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 it is possible since bitcoin is a great investment. A lot of bitcoin users are waiting for it because most of them don't know where to keep and store their money safely. Most of banks these days has fraud issues that affects the earnings  of most people who trust banks. Most of the banks these days don't worth our trust so I wish bitcoin would build their own bank.
I don't think that we need banks for us to stored our coins/tokens considering that we can stored it in our wallet through online, unless we converted it into fiat money. Actually banks are aware about this form of currency and I also believe that they have plan for this in order to catch-up the fast growing investment  which could possible that it can affect their system.

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January 09, 2018, 04:26:18 PM
 #359

Bitcoin Bank is sheer useless thing. Bank is a place where you can store up your money and get some interest on it. But I think there is no such thing existing in Bitcoin. No one can magically increase the amount of bits you have just because you kept it with them. So a simple answer is there will never be such a bank but only a few such wallets.
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January 09, 2018, 04:30:01 PM
 #360

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.
there will never be a bitcoin bank, MR. Satoshi Nakamoto created BITCOIN a cryptocurrency to make people have the power in currencies and money and not depending with the banks and government issued FIAT. Well maybe someday a bank will appear on this currencies but i doubt that crypto community will go for it!

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