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Author Topic: Bitcoin Bank  (Read 40079 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.

aBitcoiner
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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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I could either watch it happen or be a part of it


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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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magz
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December 29, 2017, 12:27:00 PM
 #185

It is so easy. A company may invent using smart contract that can serve as bank - like our bank today but using Bitcoin. With smart contract everything is possible and everything will be so easy. No need for third party to process your application. Everything will be computerized and done thru internet.

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December 29, 2017, 12:41:39 PM
 #186

I`ve already written about it, guys from freezone.one will establish Fiat Crypto Bank, it`s not only for BTC but I think it could be interesting for u too.
Blue2012
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December 29, 2017, 01:17:15 PM
 #187

Bitcoin bank, i think is a great idea, because as far as i know having a banks it has rules and regulations and i think it is more secure than having Bitcoin wallets to store our coins. In this kind of world, where innovations and changes with the aid of technolgy, it is very possible to happen to have Bitcoin bank. And when that time comes, im sure Bitcoin is already totally accepted in the community
RequiredBTC
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December 29, 2017, 01:35:26 PM
 #188

Good idea if there is a bitcoin bank where we can borrow or save bitcoin and have official protection from government without need to cheated.
btcminer6212
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December 29, 2017, 01:38:25 PM
 #189

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.
Yeah I think ripple is associating with some of the banks and that's why lts price is going high day by day.
There's no bitcoin banks for now, perhaps in future when the number of bitcoin in circulation is huge. Now I thinking only bitcoins bank we have is our Bitcoin wallets, where you store and save your bitcoins.
iMark
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December 29, 2017, 02:43:37 PM
 #190

Bitcoin bank, i think is a great idea, because as far as i know having a banks it has rules and regulations and i think it is more secure than having Bitcoin wallets to store our coins. In this kind of world, where innovations and changes with the aid of technolgy, it is very possible to happen to have Bitcoin bank. And when that time comes, im sure Bitcoin is already totally accepted in the community
I think it does not matter if the bank owner is a trusted person like the government, but you know that bitcoin bank could have been made by a third party who might have absolutely no security for sure? I myself not concerned about bank bitcoin idea, but you should know that bitcoin banks will make decentralized and anonymous of bitcoin lost, and I prefer using wallets rather than bitcoin banks,,

Biggapp
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January 05, 2018, 07:45:58 AM
 #191

Good idea if there is a bitcoin bank where we can borrow or save bitcoin and have official protection from government without need to cheated.
It will be great revolution in bitcoin and will make bitcoin secure and high in demand and all people who are now using bitcoin will trust bitcoin and they will invest in bitcoin at this stage of life. Today almost all people are trusting bitcoin more than any other bank and money storing service so it is main reason why bitcoin bank won’t be popular because of bitcoin wallets that are available now.
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January 05, 2018, 07:53:47 AM
 #192

I am also actually confused with the future of bitcoin, because of the limited number of bitcoins will bitcoin develop?

Drixy
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January 05, 2018, 08:07:04 AM
 #193

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?
I dont think someone would make it considering a huge gamble toward the future loaners and this may not be in trend cause we have so many banks in the world. It would be so much risky to start with and for a 21 million BTC to be loaned? Why you must lend it to someone if you can save it for yourself and still profit.
stompix
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January 05, 2018, 08:09:42 AM
 #194

Good idea if there is a bitcoin bank where we can borrow or save bitcoin and have official protection from government without need to cheated.
It will be great revolution in bitcoin and will make bitcoin secure and high in demand and all people who are now using bitcoin will trust bitcoin and they will invest in bitcoin at this stage of life. Today almost all people are trusting bitcoin more than any other bank and money storing service so it is main reason why bitcoin bank won’t be popular because of bitcoin wallets that are available now.

When I wake up and read statements like this I have the urge to go back to sleep.
Even if I had a nightmare, even if it means being late to work ....everything is better than this.

So we need a bank to keep our bitcoins safe.
Because banks can' t be hacked right?
Banks can't start freezing your account.
Banks can't be ordered by the government to take whatever you own over 100k euros like they did in Cyprus.

Let's all get drunk and stupid and deposit our bitcoin in a bank.
What could go wrong? Apart from everything?!?!?

Osarman
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January 09, 2018, 11:13:17 AM
 #195

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?
I dont think someone would make it considering a huge gamble toward the future loaners and this may not be in trend cause we have so many banks in the world. It would be so much risky to start with and for a 21 million BTC to be loaned? Why you must lend it to someone if you can save it for yourself and still profit.
What I’m thinking is— with this volatile price, how is the bank (if ever there would be) going to carry out the loans and interests stuffs?. I don’t know how to say this but I’m very confused on this. But, I don’t think this is actually going to work, it’s just not possible, and bank is not dealing with crypto.

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CuteBaby123
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January 09, 2018, 11:34:36 AM
 #196

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?
There will be no area of verification for the bank loan of bitcoin, unless you give your wallet to them and the password to guarantee that you will lay. Likewise, bitcoins price is unstable, so how can they measure the interest rate for that.

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January 10, 2018, 11:51:06 AM
 #197

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?
There will be no area of verification for the bank loan of bitcoin, unless you give your wallet to them and the password to guarantee that you will lay. Likewise, bitcoins price is unstable, so how can they measure the interest rate for that.
Bitcoin is anonymous while bank impose to implement the KYC system.
If there is a bitcoin bank we should be following the law on the banking system and it will already defeat the purpose why bitcoin was created.

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sister1001
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January 10, 2018, 02:27:37 PM
 #198

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?
There will be no area of verification for the bank loan of bitcoin, unless you give your wallet to them and the password to guarantee that you will lay. Likewise, bitcoins price is unstable, so how can they measure the interest rate for that.

Well, the fact that this coin is deflationary does not necessarily mean that you cannot get interest from it. However I would admit that the interest rate would need to be too high and not competitive with crappy fiat currencies.
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January 10, 2018, 02:32:11 PM
 #199

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?
There will be no area of verification for the bank loan of bitcoin, unless you give your wallet to them and the password to guarantee that you will lay. Likewise, bitcoins price is unstable, so how can they measure the interest rate for that.

Well, the fact that this coin is deflationary does not necessarily mean that you cannot get interest from it. However I would admit that the interest rate would need to be too high and not competitive with crappy fiat currencies.
Bitcoin is really a very sensitive issue because coin is generated because it does not want to go through 3rd party transactions and does not want anyone to be able to track those transactions. If the bitcoin bank exists then the bitcoin will also be managed as cash now, which inevitably causes investors to disagree.

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January 10, 2018, 02:54:25 PM
 #200

The whole concept of blockchain, bitcoin and crypto currency is already a form of banking system in a decentralized way. This whole concept will probably not survive if put under traditional banking as we know it and considering the fact that traditional banks thrive under some form of regulation under the government they operate. I am trying to see how we can effectively marry the two.

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