Bitcoin Bank

[zhuiyongliang8]

I don't think bitcoin is meaningful, because each of us can protect our own bitcoin well.

In fact, BTC itself is decentralized, and it is unnecessary to make a bitcoin bank.

[PatronRH]

I don't think a bitcoin bank would work like thar it will definitely make money from transactions fees it will charge clients monthly or annually but it won't be able to make loans because every time a bank makes loans it creates more money and that is what drives inflation yet with the limited amount of bitcoin that is impossible.

[gambitcoin53]

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 think bitcoin banks do not works as lending institution, maybe it will work best if it will be intended to store you bitcoins and earn interest to add up on your savings. if you will loan bitcoin, since bitcoin is volatile the principal amount could incur interest but hard to compute, unlike when you loan in dollars, the computation of interest is based on the current rate of dollars. and it is fixed.

[KorakPawon]

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 do not think there is a bitcoin bank, there is only a wallet of wallets to change into the currency of each country through banks, and banks will take fees or taxes in the process of exchange from bitcoin to conventional currency.

[Anakcikal]

Bitcoin is proven to make it easy to buy bitcoin by bank transfer or bank account and without involving a 3rd party.

[Et Hereum]

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.

[Dudeperfect]

I was having a different opinion about this concepts but now, I am convinced with the idea of decentralization. It doesn't make any sense to keep money with someone else if the core concept of blockchain is all about decentralization. We can see that there are some decentralized exchanges coming up but those are still in the basic phase of development so we might see something that would be similar to the banking system without centralization.

[Rollkal]

Banks may eventually play a role and give the option for customers to have Bitcoin with them.  I'd assume mainstream folks that have trust in their banks would prefer this.  Sort of like an exchange but integrated with existing bank accounts.  The rest can use wallets with private keys.

BTC market has many holes, high risk, if set up a BTC may business failure, I think so, the BTC price fluctuations over time, increasing in the future. Currently no one dares to raise capital by BTC.

[Kambala07]

BitCoin Bank is a very simple concept. This will be the Safety Deposit Box system for the .dat file account. The bank will not know who the customer is or how much in the storage box. They only charge a fee to keep the file secure .dat. A good bank will look at supported boxes around the world and even physical .dat files in the form of binary prints for emergency recovery. (eg, pulse EMP takes all the vast electronic world or something of that nature). You can recover your physical print binary file and start typing data in new to restore. It would be very inconvenient but hey if there is a million dollars in there I will type for you.

[Homaun Kabir]

Bitcoin is a bank. This is useful for almost everyone and it is beneficial for everyone.