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Author Topic: Will there ever be a Bitcoin Bank  (Read 2768 times)
Prettyme
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November 15, 2017, 11:56:32 PM
 #41

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 was a strategy of many banks nowadays because banks has been has not been use because everyone of us is in bitcoin they invest in bitcoin they use bitcoin they save bitcoin. So I think it was a great idea for them to make a bitcoin bank in order to go with the flow or to make something that are appropriate to the needs of today's generation.

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November 16, 2017, 12:00:27 AM
 #42

I don't think there will be a bitcoin bank. As the bitcoin concept is one line transaction only so the cryptocurrency is created against the banking system only. May be in future banks will accept bitcoin and banks will change their system according to bitcoin requirement.

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November 16, 2017, 12:04:34 AM
 #43

Banks see Bitcoin as the enemy.
Banks used to see Ecommerce as the enemy.
Customers dictate what will be needed.
BUT Banks are regulated by CBs, Financial Authorities etc.
Getting a Financial Authority to sign off on a BTC bank could be tricky UNTIL BTC volatility falls considerably.
Having all your assets in that level of volatility means your share price as a bank would yo-yo in an unsustainable fashion
ALT67890
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November 16, 2017, 12:30:27 AM
 #44

In the future bitcoin can be deposited through banks and be withdrawn. I’m an open minded person, for me it’s something most argued with, if this possibility will do good or bad to cryptocurrency but as me since I came here only this years the rampant scamming and shutting down of bitcoin wallet due to running everyones bitcoin make me think that having some bitcoin bank that is privately owned but transparently liable to the people and the government.
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November 16, 2017, 01:36:31 AM
 #45

I remember that Narbonne had an ICO not so long ago but it looks like they were not that successfull. Also their website ( https://narbonne.io/     ) was not updated since that time.
The general idea of  banks can be used in crypros but excluding all the payment stuff. It is still gona be good to have some safe storage for the cryptocurrency and maybe even some % as an income.

nhattori27
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November 16, 2017, 01:46:10 AM
 #46

It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.

congresowoman
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November 16, 2017, 01:58:35 AM
 #47

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.
This idea is insane. But it will definitely take charge of our coins. Someone will have to manage this and a part of it wull go to bank bitcoin. Butthe pro is that our coins will be more secured.

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November 16, 2017, 02:18:16 AM
 #48

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.


It may not be impossible given the fact that you thought of it, others may also consider putting up such. However, there is none in the news yet and I don't think it is happening anytime soon. The nature of the bitcoin which is a digital currency presents challenge too in centralizing it. This could probably one of the major reasons why more and more countries are banning this cryptocurrency in their location. Bitcoin was not regulated and would take time and effort to become one in the future.
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November 16, 2017, 02:21:17 AM
 #49

I think there will never be a bank for bitcoin in this world. But I would be very happy if it could come true.

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November 16, 2017, 02:25:17 AM
 #50

I dont think that there will ever be a bitcoin bank, firstly bitcoin price is very volatile in nature and investors who wants to create a bank will have to think twice.
No investor would invest in a bitcoin bank which will be hard to liquidate and hard to explain when the government investigate you.

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November 16, 2017, 03:11:34 AM
 #51

I think there will be no such a thing as Bitcoin bank. Bitcoin was created for decentralization and if you would centralized its main purpose of existence then it would not be called a digital currency rather than you go back in fiat where theres a certain people who controls the money.You will for sure be obligue to send some verfication procces of ownership when applying for something like Bitcoin bank, and you will not be anonymus anymore.

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November 16, 2017, 03:15:21 AM
 #52

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 don't think that there will be a bitcoin bank. The concept of bitcoin is to be your own bank eliminating the people or banks/financial institutions controlling your money for their own advantage. Besides, cryptocurrency is so volatile that it is hard to have a stable rate of interest in which case it could become an advantage or disadvantage to the creditor of the bank and to the bank as well in case someone put his money there like when the rate increase compared to fiat and banks only have a fix rate so it could become an advantage to the bank but if the exchange rate decrease then it would be a disadvantage to the bank which is bad for business because he is losing instead of profiting from it. However, there would be a possibility that a bitcoin bank can appear if fiat would be eliminated which means all are price in cryptocurrency value so there is no need for conversion rates and eventually it would be stable too but it is highly unlikely to happen.



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November 16, 2017, 03:54:11 AM
 #53

For me bitcoin can survive without banks.Bitcoin and aktetnative currencies are virtual that does not need to be in banks.And i do not believe there will be bitcoin banks as well.

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November 16, 2017, 04:06:18 AM
 #54

Bitcoin bank would make all transaction to be centralized removing away the notion of transacting autonomously, IMO. But does bitcoin wallet not enough for us to keep and spend our BTC anytime we want without any intervention from government entities?

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November 16, 2017, 04:22:33 AM
 #55

It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.
No, Bitcoin bank will never exists because it's opposing the main idea of why bitcoin created. Currency with decentralized nature just can't be stored in centralized way. But I can't deny that there's also something that works like Bitcoin bank which is Exchanges or online wallet. Once you store your bitcoin there, it'll seem that it's centralized into one wallet with thousands of address just like a bank but a little bit different. That's why so many people never recommend the usage of that kind of centralized exchanges or online wallet. Just for recommendation though, only use decentralized or hybrid wallet if you want the safety.

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November 16, 2017, 06:41:55 AM
 #56



I remember that Narbonne had an ICO not so long ago but it looks like they were not that successfull. Also their website ( https://narbonne.io/     ) was not updated since that time.

The general idea of  banks can be used in crypros but excluding all the payment stuff. It is still gona be good to have some safe storage for the cryptocurrency and maybe even some % as an income.



Yes exactly, narbonne was one of the project I worked on. I thought it will bring some change by creating worlds first crypto bank but eventually they failed. There claim was that they will pay back almost 20-40% of returns (interests) on the bank holding but the project is not functional yet or may be its gone already.


However, there is problem of volatility which people are not considering while thinking about the bank. The bank is solid thing and it should never be unprofitable at any point. I mean look at the traditional banking sector, what do we see? Well, central bank control the prices of currency local and internationaly and keeps the proper balance of printing and distributing of the currency.


In crypto currency emission rate of the coins depend on the mining, sometimes it is difficult and sometimes it is easy. With the time everything is getting condensed and this will not allow proper trading through the banks. May be there needs big central server which will control the prices for the crypto but again if we do that then there wont be any meaning for the decentralised blockchain.

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November 16, 2017, 06:47:18 AM
 #57

It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.
No, Bitcoin bank will never exists because it's opposing the main idea of why bitcoin created. Currency with decentralized nature just can't be stored in centralized way. But I can't deny that there's also something that works like Bitcoin bank which is Exchanges or online wallet. Once you store your bitcoin there, it'll seem that it's centralized into one wallet with thousands of address just like a bank but a little bit different. That's why so many people never recommend the usage of that kind of centralized exchanges or online wallet. Just for recommendation though, only use decentralized or hybrid wallet if you want the safety.
well, so many people keep their bitcoin intentionally on the exchanger. because it's easier to sell. but, I think you're right. only decentralized or hybrid wallet is really safe. it really is recommended.

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November 16, 2017, 06:51:16 AM
 #58

For me, maybe soonest there will be a bank who will offered to be the bitcoin's authorized bank. As the day goes by, this bitcoin will be more bigger and spread out through the country. Bitcoin is just starting to grow.

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November 16, 2017, 06:51:48 AM
 #59

Won't be surprised to see banks offering loans in BTC in future, and offer attractive interest rates on certain cryptocurrencies deposits to hold as reserves/loan out.
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November 16, 2017, 07:05:52 AM
 #60

I do not know the future if there is a bitcoin bank or not, but I do not agree if there is a bitcoin bank. Maybe if there is a bitcoin bank I think the transaction will be difficult and take a long time to wait for confirmation, better than the beginning of bitcoin growth until now is enough without having a bitcoin bank.

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