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Author Topic: Bitcoin Bank  (Read 37867 times)
kimochidesh
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October 19, 2017, 07:26:00 PM
 #181

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

Ripple do have some resembling feature as you stated here. But the question is IF such bank is formed....Who will be Administrating/manage this bank? Being decentralized nobody can control or regulate BTC transactions, So if there is no control there is to guarantee of re[payment of loans.

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hovrah
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October 19, 2017, 07:33:29 PM
 #182

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

Ripple do have some resembling feature as you stated here. But the question is IF such bank is formed....Who will be Administrating/manage this bank? Being decentralized nobody can control or regulate BTC transactions, So if there is no control there is to guarantee of re[payment of loans.
It seems to me that if Bitcoin Bank is created, each user will hold very strong control and this will completely affect all the advantages of the crypto currency. To date, the authorities and governments of countries in which Bitcoin is legalized can act in the same way, or they are already acting in this direction. But how will one bank differ from the existing banking system.

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October 19, 2017, 08:21:01 PM
 #183

We're running away from the common institutions like banks just to make another bank in BTC area? No, strongly disagree with you

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October 19, 2017, 08:38:18 PM
 #184

I dont think there will be a need for banks for bitcoin. We can keep it safely in our wallet and if we want to invest, no need banks. Transactions are done with out the help or connection with  banks.

In my opinion bitcoin platform is the largest bank in existence without a real owner. What I mean is its not the bank that we think, like (the world bank) where they manage the accounts and they have the money, the platform of bitcoin is decentralized yet we have the trust to put our wealth in this system and true no need banks if you want to have a real investments because things that go on tax is not really yours.
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