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Author Topic: Will there ever be a Bitcoin Bank  (Read 3497 times)
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January 16, 2018, 06:16:59 AM
 #381

If ever that happens, I will support it. Just think that they will do more layers of security for us and if ever we got hack, they will surely imburse our cryptocurrencies back.
Well, In my knowledge there is not Bitcoin Bank in the whole world and still possibility is also less of BTC bank because BTC bank need some permission from government side and still BTC is not legalize in any country as BTC start legalized then possibility of BTC bank creation will also be increased and that will be amazing steps in BTC carrier.
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January 16, 2018, 01:30:06 PM
 #382

It's nice having a bitcoin bank after all there are many people who are into bitcoin that's why it became more popular and maybe when this will happen i will support it because maybe it is more convenient if it has it's own bank.

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January 16, 2018, 03:26:45 PM
 #383

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 heard some news about it , an article rather , it says that it can be possible now a days people are noticing the power of bitcoin the value of it. And some are investing right through the bitcoin industry , and I heard some that bitcoin has a fiat and bitcoin has a atm machine right now it becoming vast and evolving. And on the other hand it maybe helpful for us I guess , mostly the bitcoin users.

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streetlight
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January 16, 2018, 03:41:57 PM
 #384

What purpose will a Bitcoin bank serve? Why would anyone use a Bitcoin bank?
Other banks are used by people to store money. They store money safely and allow easy transactions like wire transfer, cheques etc. They also provide loans for various purposes.
Bitcoin already stores money in wallets and you can do transactions between wallets just like a bank.

In other words a bitcoin wallet is already a bank.
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January 16, 2018, 05:09:06 PM
 #385

I think it's a bit of a reinventing the wheel where in fact there is already web wallets or hard wallets where you can store your bitcoin or digital currencies with no intervention of banks.

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January 16, 2018, 05:19:24 PM
 #386

I truly think that a Bitcoin Bank isn't the deeply intent of BTC, they are for the decentralization of the power! but of course, in future, a BTC bank would be necessary for everyone who wants some BTC.
I hope in a free market like a perfect market where everybody is free for his action and the price is influenced only by supply and demand.
Of course, the State has to be 100% outside of the market for being perfect but that's quite impossible now.
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January 16, 2018, 05:30:41 PM
 #387

The way I see it, the exchanges are more or less acts like a bank, only more brutal. The transaction rate is very very high. There might be a bank where you can save your bitcoins (which is not really necessary) but I don't think there's gonna be any bank who will you lend you Bitcoins (no matter what the interest is).
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January 16, 2018, 06:00:08 PM
 #388

With Bitcoin with have a decentralized option to deal with money in our lifes, what didn't exist anymore by some years ago in our modern days. And seems after achieving it, people want to go back and adopt a centralized service again! Why to do this if we don't need "middlemen" here to make investments, move and apply money? We are on the control of our own money.

But if there are customers there will be businesses offering a centralized service to them and it's already happening. I believe the "Bitcoin Bank" are those third party services offering investment options, sometimes with AltCoins, offering higher returns than you could make by yourself.

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January 16, 2018, 06:12:01 PM
 #389

The main purpose of bitcoin is decentralization and it means NO banks. I believe people will understand someday that bitcoin it's the best and safe way make deals, buy and sell stuff, trade and many other things that people do with money.

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January 16, 2018, 07:51:36 PM
 #390

The main purpose of bitcoin is decentralization and it means NO banks. I believe people will understand someday that bitcoin it's the best and safe way make deals, buy and sell stuff, trade and many other things that people do with money.
the fact of the matter is that Bitcoin Bank does not need anything and therefore do not need to create it. If the block chain is the property of people, without any control, then I think that Bitcoin will be the most secure business phenomenon.

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January 16, 2018, 09:55:24 PM
 #391

I don't think that situation is possible because the Bitcoin itself is decentralized currency and for the Bitcoin bank to be created Bitcoin would have to be centralized. Bitcoin anonymity is the key to the success. Although the transactions are stored on the blockchain the final user remains unrevealed. There is the slight possibility that some kind of bank that is connected with the Bitcoin can arise but I doubt it.

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January 17, 2018, 10:37:59 PM
 #392

Honestly I can’t imagine how a bitcoin bank operates. Bitcoin is dealing with different transactions with anonymous addresses  which makes them hard to be traced and having a bank or sort of credit union doesn’t work with the nature that bitcoin has. I think bitcoin connecting to banks in terms of withdrawal or additional investment is a more possible one.

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February 14, 2018, 03:44:26 PM
 #393

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February 15, 2018, 10:52:26 AM
 #394

According to its original design by Satoshi Nakamoto, there can only ever be 21 million bitcoins in existence, expected to be achieved some time by 2040.
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February 15, 2018, 02:46:31 PM
 #395

Do we need bank like this? we are all banks by ourselfs, u may take credit in usial bank and buy btc, and for hold btc is better somwhere in safe place at home by usins special storage
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February 15, 2018, 02:57:06 PM
 #396

I don't have such information about bitcoin bank still that there is any bitcoin bank in the world. But yes it is possible in future that bitcoin bank will exist as when world start accepting bitcoin as a legal currency then surely bitcoin bank system will also be start.
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February 15, 2018, 03:05:00 PM
 #397

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.
Than "insanely useful" in your opinion can be a bank for bitcoin? Do you think your bitcoins will be there in safety? Maybe I'm wrong, and the future such banks really will be, but so far I'm not making any sense.

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February 15, 2018, 03:44:12 PM
 #398

The idea of having a Bitcoin bank is something that is not impossible but I think it is very unlikely yo happen. One of the reasons is Bitcoin is decentralized and that is one of the best features of Bitcoin, one that makes it unique, trustworthy and successful. Having a Bitcoin back will defeats that, that is why I believe that idea is possible but unlikely to happen.

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February 15, 2018, 04:11:04 PM
 #399

A bitcoin bank doesn't make any sense: what do you deposit in it?
But, actually, online exchange that own your key are in fact banks.
And probably there will be an offer of financial services as loans, leasing and so on from bank-like entity.

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February 15, 2018, 10:55:08 PM
 #400

A bank is a "safe"  place where you put your money so you you don't need to worry about it.
But, actually, the blockchain is the bank, so there is no need to have an entity that will act as an intermediary.
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