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Author Topic: Cryptocurrency Banks: needed?  (Read 499 times)
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February 02, 2018, 01:23:23 PM
 #81

I don't think that they are needed or required for the cryptocurrencies because what is the reason for creating a wallet and having a hardware wallet if the banks are there also for crypto? It will be just centralized and that is what don't want to happen because we are here in cryptocurrencies because we want decentralization and based on my experience, the hardware wallets are already good for having our own banks.

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February 02, 2018, 01:25:57 PM
 #82

There are many project which were based on crypto bank,and they have got a good community but going as a official bank is really difficult.bank will use blockchain technology to enhance security for fund but having a bank especially for crypto is really difficult to get approval maybe in future.

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February 02, 2018, 01:33:52 PM
 #83

For bitcoin and any other decentralized coin I don't think that a centralized system is needed in order to take care of the coins. When a coin is given out by a company, then we already have a centralized system.
But in general I do not see what services a crypto bank can offer. Interests with cryptocurrencies that will not happen. Storing the coins is something everybody can do. What else is there?

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February 02, 2018, 01:44:13 PM
 #84

I am still confident about my opinion about it and I believe that since crypto is based on the blockchain technology which relies on the principle of decentralization, it would kill the core values of it if we are making such banks mandatory but if someone is not comfortable in handling his responsibility then there should be some mechanism for him to manage his funds through third party authorities. If he is ready to bear the risk involved in that option.

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February 02, 2018, 01:45:40 PM
 #85

As long as you have a coin wallet you didnt need cryptocurrency bank, some who joining cryptocurrency was in investment and trading  i think no one have interest to save in banks because if you have a hardware wallet to save, invest and trade you coins. For the future we are in one world currency that didnt need a bank just use your wallet for savings.


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February 02, 2018, 01:55:37 PM
 #86

Thinking of certain investments in the project where they are planning to arrange a cryptocurrency bank! And I saw discussions about cryptocurrency banks and their "place" in our crypto-future, and, which is even more interesting, noticed that there is quite a number of those who are of the opinion that there is no need for cryptocurrency banks at all. Well, guys, we can discuss that forever, but how do you imagine then the communication with the so-called real world for the sake, e.g., of making deposits or obtaining a loan? How can the whole system function properly without cryprocurrency banks, which are anyway somewhere on the border between the real and crypto worlds?

Maybe such a system will sometime be in the future, but at the moment it's hard to believe, as some countries react negatively to crypto-currencies.


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February 02, 2018, 02:06:00 PM
 #87

Thinking of certain investments in the project where they are planning to arrange a cryptocurrency bank! And I saw discussions about cryptocurrency banks and their "place" in our crypto-future, and, which is even more interesting, noticed that there is quite a number of those who are of the opinion that there is no need for cryptocurrency banks at all. Well, guys, we can discuss that forever, but how do you imagine then the communication with the so-called real world for the sake, e.g., of making deposits or obtaining a loan? How can the whole system function properly without cryprocurrency banks, which are anyway somewhere on the border between the real and crypto worlds?
If it is a decentralized cryptocurrency bank it will be okay but we all know that interventions of governments towards cryptocurrency is getting closer and is clear as crystal nowadays. They don't want us to have financial freedom, they are greed and they want to control everything. We only need cryptocurrency exchanges not banks. No need to avail loans in crypto because we can earn them slowly. If you want to invest in crypto the easiest way is to invest time since it's a free capital we all have. Only hardwork matters most especially to each and everyone of us. I myself hate loans that is why I stay away from it as long as I can. But if not especially in times of trouble I think much better to try and ask for help with our dear friends.

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February 02, 2018, 02:15:02 PM
 #88

If we have crypto Banks all over the world it is much better, transaction will be much more easier since at least they could issue cards that we can use on shopping at any mall in any give time, like the usual a.t.m card.
Amazing..

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February 02, 2018, 06:58:10 PM
 #89

There are many project which were based on crypto bank,and they have got a good community but going as a official bank is really difficult.bank will use blockchain technology to enhance security for fund but having a bank especially for crypto is really difficult to get approval maybe in future.
Yeah and bank is not even required even if it was possible I won’t think About it to sue as bitcoin has a lot of wallets now it is availed at the most easy way then why would people buy a lot of  other expensive banks for bitcoin, and  it will be even hard to have bitcoin at the time of need because maybe we will not be able to get a bank nearby,. So I am not in favor of bitcoin as wallets are enough to provide us safety and security,
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February 04, 2018, 06:42:45 PM
 #90

A "bitcoin bank" is completely meaningless: if you own the private key, YOU are the bank.
And if you let some exchange to manage your private key...well, they are the bank. If they fail, your money are gone.
May be in the future you'll can trust your bitcoin to someone that will borrow them. Who knows?
Yes you’re  right. There is no good reasons as of why we need any bitcoin bank.  What will even be the work of a bitcoin bank if any happens  to be introduced? They make no sense at all,  you have wallets that offers you all you need to use Bitcoin, including some of them that allows the use of debit cards. You can also store in offline wallets,  and can have your private keys,  which puts you in charge of your money.  So, banks for Bitcoin makes no sense.

If we have crypto Banks all over the world it is much better, transaction will be much more easier since at least they could issue cards that we can use on shopping at any mall in any give time, like the usual a.t.m card.
Amazing..
We cannot expect such banks all over world in its beginning itself. So, there could be many significant inconveniences but over the time, things will change and will settle into better revolutions for sure.



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February 05, 2018, 10:09:59 AM
 #91

If we have crypto Banks all over the world it is much better, transaction will be much more easier since at least they could issue cards that we can use on shopping at any mall in any give time, like the usual a.t.m card.
Amazing..
I think there is no need of crypto banks because crypto is itself a banks and making it bank oriented will not bring any changed on other hand many of people will think it will become like flat so this thing is keep this momentum to flow because people are followers of bitcoin because it is not like banking systems and if a third part involves in it many of question will rise on the anonymity and the security so no from my side.
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February 05, 2018, 10:20:02 AM
 #92

If we have crypto Banks all over the world it is much better, transaction will be much more easier since at least they could issue cards that we can use on shopping at any mall in any give time, like the usual a.t.m card.
Amazing..
I think there is no need of crypto banks because crypto is itself a banks and making it bank oriented will not bring any changed on other hand many of people will think it will become like flat so this thing is keep this momentum to flow because people are followers of bitcoin because it is not like banking systems and if a third part involves in it many of question will rise on the anonymity and the security so no from my side.
Not only that thinking off that having these cryptobanks will really remove the decentralized thing of a certain coin.We do know we do have already corresponding wallets which we can store up our own possesion without even the need on using those things.Even though they would be built or exist i do bet most people wont really bother or choose up on using their service and would rather choose to hold their coin on their own.
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February 05, 2018, 11:30:53 AM
 #93

I don't think that they are needed or required for the cryptocurrencies because what is the reason for creating a wallet and having a hardware wallet if the banks are there also for crypto? It will be just centralized and that is what don't want to happen because we are here in cryptocurrencies because we want decentralization and based on my experience, the hardware wallets are already good for having our own banks.
I think most users come and use bitcoin one of the reasons for decentralization and make their identity undercover. certainly with the cryptocurrency bank will make all of that be lost. for myself it will not be useful/needed because I can save my bitcoin in the wallet of course without any limitations, controls, and rules from anyone. it's better for me. but as long as the cryptocurrency bank is not mandatory to use it is not a problem for me if that exists. because it is possible that the government will make crypto bank realized

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February 05, 2018, 03:32:37 PM
 #94

If we have crypto Banks all over the world it is much better, transaction will be much more easier since at least they could issue cards that we can use on shopping at any mall in any give time, like the usual a.t.m card.
Amazing..
I think that in the long run Cryptocurrency Banks is a necessity. This bank will be responsible for dealing with coin transactions, so it can avoid cheating and fraud on the market. This is a great suggestion and I will support this project. But always ensure the anonymity and security of the altcoin, this problem can be resolved very well.

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February 05, 2018, 03:58:15 PM
 #95

There is no such thing as a decentralized Bank.

If we accept that, then crypto should never have a Bank.

The whole purpouse of cryptocurrencies is the noncommitment to states ..



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Monro3000
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February 05, 2018, 04:07:16 PM
 #96

I understand what you are talking about, but I am categorically against such banks. The sense of decentralization of the economy is lost. When such a bank appears, many decide to impose a cryptic currency on deposits there, and someone will take out loans, and then we will be able to get the situation we see today. The richest countries are not countries, but banks in which everyone keeps their savings. And who can dictate their terms to everyone without restrictions. I believe that in order to take out loans, credit organizations are needed, but for deposits I absolutely forbade the use of crypto banks.

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mezzaluna
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February 05, 2018, 04:13:27 PM
 #97

There are already some platforms that includes Cryptocurrency banking and their programs might be effective because they must be trusted before they can implement their platforms and programs in the future. If I remember correctly, i have read about Aureus which is backed up by Bitcoin so whenever there are anomalies, that problem would be solve. Maybe we need banks because in banks, we can withdraw the cash real fast and anytime we need it and all we need to do is look for a place to withdraw that money.

yonjitsu
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February 05, 2018, 04:19:34 PM
 #98

I don't think a cryptocurrency bank is really necessary at all. As it will forfeit bitcoin's attribute of being decentralized as every transaction made in the bank can be trace, a tax can also be imposed. So i guess it's better to use my bitcoin wallet than having a cryptobank.

thiyabarawaththe.91
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February 06, 2018, 09:10:41 AM
 #99

If banks there ,crypto become a bank notes(centralized currency) which authorized by government.only thing it is online and virtual....
Rony24h7
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February 06, 2018, 07:49:03 PM
 #100

Cryptocurrency is developing day by day and it is accepted by the people more warmly ad it is one of the main cause to more popular of it. People can get very much benefits and facilities by using bitcoin. But people want to get more from that thing and if there is a cryptocurrency bank ten people can take some loan from that and can do more work with these coins.
They can also put their coins at that bank with more security also. So if there will be a cryptocurrency bank then it will be more comfortable for those people who are involved with cryptocurrency.
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