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Author Topic: Will there ever be a Bitcoin Bank  (Read 3497 times)
Kate Beckett
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April 25, 2018, 04:49:42 PM
 #461

A bank for bitcoins makes no sense, because the bitcoin itself is a bank.
On the other hand, the exchanges are behaving like banks, so the banks for the bitocin are already there, for those who want to use them.

I am not sure we can say that Bitcoin itself is a bank. In my opinion, it is incorrect to say so. But I agree with the fact that banks contradict the essence of bitcoin and don`t make sense in these conditions. The main problem: if a bank doesn`t have a debit with a loan and the bank expects a collapse, then we won`t get any Bitcoin from it. And this is exactly what we want to avoid, using Bitcoin. Our money must remain with us and be safely preserved.
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April 25, 2018, 05:28:23 PM
 #462

I think that banks will never agree to this, because for them it will be the end. The time has not yet come, but the current banking system is very outdated and requires fundamental changes.

I agree that the current banking system is outdated, but I think if banks will agree then only on their own terms, which will be beneficial to them.

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April 25, 2018, 05:30:46 PM
 #463

I think that might be a probability as soon as regulation is done and implemented.
But I don't know how will this actually go with banks and governments, Honestly
I'm quite comfortable with using wallets. They're easier, fast and convenient.
Banks can actually help, if banks and bitcoins would somehow fuse or work
together, it's gonna be a new world in the online financial scene. Crypto atm
machines would be common.
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April 25, 2018, 05:40:45 PM
 #464

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 that in the future there will be something like this in the crypto currency, which can be called a bank. If you do not touch on the basic principles of the existence of a crypto currency, then the creation of a bank that will issue loans in the crypto currency or perform other operations that will have similarities with the storage of money on a deposit, but in a crypto currency will be beneficial to all. I am sure that such forms in the business of crypto currency will be created, and in a variety of forms. Already, this forum is discussing the creation of ICO with similar functions of the bank in the crypto currency.

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April 25, 2018, 06:23:01 PM
 #465

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 believe that it is possible to have bitcoin banks in the future and I believe that it is a better way and opportunity for us to store our earnings in a safer and more secured place. Through it, we would be able to have a peace of mind and security for our earnings because we all know that banks are too risky these days.


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April 25, 2018, 06:23:35 PM
 #466

To know that it takes a lot of conditions to become a bank, and bitcoin is now a virtual exchange of coins, and I don't think bitcoin banks will appear because the bitcoin and the silver industries are mutually exclusive. Maybe in the near future, we can see that the relationship between bitcoin and banks is coexistence.

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April 25, 2018, 07:14:40 PM
 #467

Why? Isn't it conflict with the main blockchain idea? To be transparent and decentralized. And these issues conflict with bank's idea  Grin
saadat6868
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April 25, 2018, 07:24:21 PM
 #468

This sounds actually logic, becouse some of the principles of banking works in realities of cryptocurrency world. Deposits for example

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April 25, 2018, 07:27:14 PM
 #469

Banks operating completely with bitcoin will come into existence, but such banks will be surely under the control of governments. Thi won't provide users with the benefits, so it's better to use it same as now in its decentralized form.

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April 25, 2018, 08:57:29 PM
 #470

If for example there is a bitcoin bank then we will be easier when exchanging bitcoin and it will also be easier to withdraw the funds we get from bitcoin and again if there is a bitcoin bank then bitcoin price will be more stable again, not too fluctuating like now because there is already a bank which regulates the bitcoin price, I hope to soon be in this bitcoin bank

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April 25, 2018, 09:38:22 PM
 #471

Fractional reserve banking there is that, but who knows. I think banks will remain in some form. Governments will regulate this as always.
Crypto is a game changer because banks can't work with it in the classical way and for crypto adoption, they need to change their true nature which is hard to imagine now.

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April 25, 2018, 10:06:01 PM
 #472

I dont think bitcoin and other cryptocurrency need banks because it can be safely stored in digital wallets with no maintaining balance and activity needed in order not to be fined or pay penalty. However there are ICOs i paricipated in the past whose project was to build and develop a crypto bank and crypto lending also with crypto debit cards automatically converted to fiat when used.

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April 25, 2018, 10:09:15 PM
 #473

Bitcoin is high risk, big price fluctuation. I think no one would dare to open a bank for deposit and borrow BTC. And BTC borrowing will not be transparent when BTC users are anonymous. This can not be done in the present time.

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April 25, 2018, 10:17:18 PM
 #474

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 is not going to happen anytime, because Bitcoin is decentralized and no one or group can control this crypto currency and its price, and in fact decentralization is one of the most attractive features of Bitcoin, without this feature BTC will be similar to fiat currencies in many ways and its voume of trading and value will go down as a result.
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April 25, 2018, 10:20:15 PM
 #475

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 there is, minex coin is running their own bank and holding their coin will give you a huge amount of profit monthly so i suggest that investing in this coin will give you a huge amount of profit just the same as working in the corporate world.

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April 25, 2018, 10:21:43 PM
 #476

I guess there will be a bitcoin bank in the near future if all the people are so desperate to legalize bitcoin it will happen but ofcourse they are not still able to manipulate the price of it and even the supply of bitcoin it can't be because in the internet it is still decentralized.



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April 25, 2018, 10:37:08 PM
 #477

In my opinion, there will be no BTC because no one has the courage to open this bank, the risk is very high and the price fluctuates frequently, the interest paid to BTC is impossible. and BTC is anonymous so lending and borrowing will be more difficult.
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April 25, 2018, 11:11:00 PM
 #478

I think that banks will never agree to this, because for them it will be the end. The time has not yet come, but the current banking system is very outdated and requires fundamental changes.
What system do you think is outdated? and what kind of system is needed now? I think not all users want a bitcoin bank because we ourselves already have a better system than that, that is blockchain, without any third party and certainly safer, one of the reasons why some users want a bitcoin bank is due to loan and interest facility right ?

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April 25, 2018, 11:23:25 PM
 #479

 Many ICO like Minex,  European bank are claiming to be a crypto bank. They offer profits for buying and stacking their coins. I guess we do not need a bank anymore , any top coins from the coinmarketcap  will surely give you a profit by just buying it or holding it from your trezor.

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April 25, 2018, 11:32:48 PM
 #480

One of my greatest expectations is, Bitcoin bank will become real there.
it will be more interesting, and will further advance its development.
moreover, it will be more safe to use.
I am very sure and believe, Bitcoin Bank will be real there.
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