Bitcoin Bank

[deisik]

If bitcoin bank will issue loans in bitcoins at a favorable interest, then I do not mind using such service.
Just need to very accurately choose the time when to take a loan, and when to give

Maybe it possible, but what was the possible collateral you offer, if the Bitcoin bank give a high amount of loans with fair interest how they can assure that you paid it in time? I don't think so if it is possible for now but we still hoping that it will be happen in the future.

Let's assume that we can take loan in bitcoins from bank, first question is how do you plan to return that and in what time. I don't have salary in bitcoins, so I would need to payback that loan in my currency. With rise of btc price, my monthly rate can be higher each month and that can be real problem. How many of us here can afford loan in bitcoins?

It has been explained many times already

And I explained it a few times as well. The real problem is not with you not being able to pay the debt. After all, no one is forcing you to borrow bitcoins (or any other money, for that matter) in the first place, and there are quite a few defaults even with fiat loans backed by crappy collateral (i.e. subprime mortgages). The true real problem is that borrowers will be inclined to intentionally default in case the Bitcoin price is set to rise exponentially since they would be able to buy what they pledged as collateral and still have some bitcoins left from the loan. In other words, it would be highly profitable to default

[ApplePanPine]

If bitcoin bank will issue loans in bitcoins at a favorable interest, then I do not mind using such service.
Just need to very accurately choose the time when to take a loan, and when to give

Maybe it possible, but what was the possible collateral you offer, if the Bitcoin bank give a high amount of loans with fair interest how they can assure that you paid it in time? I don't think so if it is possible for now but we still hoping that it will be happen in the future.

Let's assume that we can take loan in bitcoins from bank, first question is how do you plan to return that and in what time. I don't have salary in bitcoins, so I would need to payback that loan in my currency. With rise of btc price, my monthly rate can be higher each month and that can be real problem. How many of us here can afford loan in bitcoins?

Yes, banks will never work at a loss. For sure they will take a large commission for such a loan and a high interest for its use. And this means that the profit will eventually be received only by the bank

[webtricks]

It has been explained many times already

And I explained it a few times as well. The real problem is not with you not being able to pay the debt. After all, no one is forcing you to borrow bitcoins (or any other money, for that matter) in the first place, and there are quite a few defaults even with fiat loans backed by crappy collateral (i.e. subprime mortgages). The true real problem is that borrowers will be inclined to intentionally default in case the Bitcoin price is set to rise exponentially since they would be able to buy what they pledged as collateral and still have some bitcoins left from the loan. In other words, it would be highly profitable to default

Let me add something. It may lead to situation that borrower is no longer interested in collateral. He will be like- "Go nigga confiscate my house, I will buy a new one!"  
However, the situation as mentioned by you may not arise if borrower takes loan for immediate consumption as in 80/100 cases occurs.

[VanDeinsberg12]

If bitcoin bank will issue loans in bitcoins at a favorable interest, then I do not mind using such service.
Just need to very accurately choose the time when to take a loan, and when to give

Maybe it possible, but what was the possible collateral you offer, if the Bitcoin bank give a high amount of loans with fair interest how they can assure that you paid it in time? I don't think so if it is possible for now but we still hoping that it will be happen in the future.

Let's assume that we can take loan in bitcoins from bank, first question is how do you plan to return that and in what time. I don't have salary in bitcoins, so I would need to payback that loan in my currency. With rise of btc price, my monthly rate can be higher each month and that can be real problem. How many of us here can afford loan in bitcoins?

Yes, banks will never work at a loss. For sure they will take a large commission for such a loan and a high interest for its use. And this means that the profit will eventually be received only by the bank

They're robbing the lender's money. It has touched 100% interest in my country and they are like a pirate of money in my mind. I might never be touched him in my life.

[fathur.aza]

Bitcoin banks that make money from transfers internally,
How do you think and opinion?

[cybersofts]

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'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.

[squatz1]

Bitcoin banks that make money from transfers internally,
How do you think and opinion?

I don't think something like this would work at all, though I would think a Bitcoin bank would be operating like a real bank in pretty much every other nature when it comes to things.

It'd be operating like a business as a bank so it would allow for people to deposit money safely and then would use this money to loan out to be able to make profits for themselves. With these loans people would probably be going through stringent checks and also have some sort of collateral to ensure that people weren't going to be able to scam.

I think it would work in theory, but when put into practice it would require a ton of trusts from people to be able to have faith in the bank to not just run away with everyones money. It's tough but it'd be possible with a lot of security.

[xuan87]

If you are talking about making a bitcoin bank which operate like the fiat bank, then I would say nobody will interested because it will be control and regulated by the government and to ask people to invest their coin into bitcoin bank will be very difficult because the bitcoin world is a world without identity so if the coin being scammed then there will be no chance to get it back, so it is not that easy to gain trust from the people, I rather to hold my coin by myself rather than put my coin in the bank, it will be more secure

[deisik]

If you are talking about making a bitcoin bank which operate like the fiat bank, then I would say nobody will interested because it will be control and regulated by the government and to ask people to invest their coin into bitcoin bank will be very difficult because the bitcoin world is a world without identity so if the coin being scammed then there will be no chance to get it back, so it is not that easy to gain trust from the people, I rather to hold my coin by myself rather than put my coin in the bank, it will be more secure

I don't think that will be the case

People still open both deposit and checking accounts in regular banks though they, first, have to disclose all their personal data to the bank, and, second, they have to actually walk to the bank office to open an account in the bank. That said, if some banks just allow to deposit bitcoins to their already registered clients (obviously, the latter won't have to disclose their identity since this identity is already known to the bank), there will be enough "volunteers" to try out that service. And still more so if the bank would offer some interest on Bitcoin deposits

[darthmaul]

I think bitcoin bank will be tricky to operate. Have you seen how bitcoin prices rise and drop in the market? I mean it would be little trick if someone is buying at x price and after few months price for bitcoins is y then bank will have to pay more, so I'm not getting how that one can be tackled. Bitcoin works all in virtual market and exchanges and I think that is the place for bitcoin rather than bank. Also that will make it less decentralised currency. 

[machinek20]

It has been thought by a lot if person to open a bitcoin, but the response is not too good, maybe because the people tired being controlled by the banking system, if we can think innovative way to build bitcoin bank which is different from fiat bank, then there will be a lot of people interested

[Apened]

It has been thought by a lot if person to open a bitcoin, but the response is not too good, maybe because the people tired being controlled by the banking system, if we can think innovative way to build bitcoin bank which is different from fiat bank, then there will be a lot of people interested

Yes ,but thinking of that matter it would be hard not to govern or see who were the trusted ones who loans by not identifying a person who will loan or deposit bitcoins .So the point is we cant go with a bitcoin bank of being anonymous.

[AngelSky]

It has been thought by a lot if person to open a bitcoin, but the response is not too good, maybe because the people tired being controlled by the banking system, if we can think innovative way to build bitcoin bank which is different from fiat bank, then there will be a lot of people interested

Yes ,but thinking of that matter it would be hard not to govern or see who were the trusted ones who loans by not identifying a person who will loan or deposit bitcoins .So the point is we cant go with a bitcoin bank of being anonymous.

If the bitcoin network has been taking over by the government then they may create unified identifier to find the people only from the Government side. Therefore, It 's not much difficult to handle in the financial institutions and payment sectors. Actually, bitcoin bank options have been already introduced in Switzerland. Hope it will be implemented in all the countries.

[mornabo]

Bitcoin banks that make money from transfers internally,
How do you think and opinion?

I think you can use wallet to transactions with fellow users bitcoin users, it will be easier and more simple. Than using bitcoin banks that require a lot of verification?

[Shady]

If only in the future Bitcoin opens up to a bigger limit problems of this worry can be prevented. I'd have to start that web services with prepaid access are likely to game what you're expecting. In this case some banks actually do allow BTC exchange that'll bring new innovation to all users.

It sounds simple, but cryptocurrencies are still in early phases of development so it should take more time to see all of what is offered.

[Bezobraznike]

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?

Can you explain me why would we need bitcoin bank? Bitcoin is a digital currency and payment network, why would we pay someone to do easy things for us?
I`m new in all this, but isn`t the point of bitcoin to be alternative to the current system?

[Wintersoldier]

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?

Many people seem to be worried about losing their wallets, so I could see a bank as a trusted party to store bitcoins.  They could also offer escrow services for people who wanted to enter into a transaction but did not trust each other.  The beauty of starting a bank is that you don't need anyone's permission. 

I like the concept of orginizing a systematical bank that can manage bitcoin. But if we will dig deeper on the thing of legality of bitcoin is not rechable because its transaction is not visualized to reach by goverment. But if it will be a banking system like bitcoin which is not manipulated by government it is good for the users to not have a corruption on it. And wallet may be also need on it because wallet can serve as a tube of transaction between the users and bank.

[aTriz]

I dont think that the idea of "Bitcoin Bank" is good, just because of one simple reason:
Banks are made to make the society poorer.

They do not help us to become wealthy. Indeed, they have a wide offer, for example we can have a money placement in bank, which will provide us an interest equal to somewhere between 3 and 5 percent every year.
That looks like an opportunity, but we all know that it is a good solution only for somebody who owns a big amount of cash, in such a situation it is really worth it.

But even with 50,000 $, you won't earn a lot thanks to that, even 5 % every year would be just 2500 USD every year!

[Apened]

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?

Many people seem to be worried about losing their wallets, so I could see a bank as a trusted party to store bitcoins.  They could also offer escrow services for people who wanted to enter into a transaction but did not trust each other.  The beauty of starting a bank is that you don't need anyone's permission. 

I like the concept of orginizing a systematical bank that can manage bitcoin. But if we will dig deeper on the thing of legality of bitcoin is not rechable because its transaction is not visualized to reach by goverment. But if it will be a banking system like bitcoin which is not manipulated by government it is good for the users to not have a corruption on it. And wallet may be also need on it because wallet can serve as a tube of transaction between the users and bank.

Thats imposible to built a bitcoins bank without any law of the government .
We have a local wallet in my country and it is built with the laws of government which you can use to exchanges and cashout on that wallet with banks but it have a fees.

[X-ray]

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?

Can you explain me why would we need bitcoin bank? Bitcoin is a digital currency and payment network, why would we pay someone to do easy things for us?
I`m new in all this, but isn`t the point of bitcoin to be alternative to the current system?

We don't need bitcoin bank, Remember the word of being your own bank. And it has given a lot of the meaning for us. We will never need bitcoin bank to keep or money especially crypto is in the grey area which will try to save your bitcoin on bitcoin bank is not a good decision.
They can be turned as scammer anytime.