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Question: Why we need bitcoin / cryptocurrency banks on the high street.  (Voting closed: March 22, 2019, 01:33:14 AM)
Don’t need cryptocurrency banks - 17 (63%)
Need cryptocurrency banks - 5 (18.5%)
Need only online banks - 2 (7.4%)
Not sure 🤔 - 3 (11.1%)
Total Voters: 27

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Author Topic: Bitcoin cryptocurrency banks needed.  (Read 939 times)
minersday
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April 23, 2019, 10:20:10 PM
 #101

The crypto ecosystem do not need banks for people to keep their Bitcoin in these banks. If crypto banks should be adopted into the crypto space, they will operate similarly to that of exchange platforms. Because you will need an amount with security features like setting up passwords and any other protective security measures to help protect the amount from being hacked. There are platforms which already operate like Banks and these platforms are more effective than Banks basically due to the 24/7 services provided by them. Banks will just try to make the entire crypto ecosystem centralized which goes against the true nature of Bitcoin and other cryptocurrencies.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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April 23, 2019, 10:34:35 PM
 #102

One of the major reason bitcoin (cryptocurrency) was introduced in the first place was to give the world financial freedom from government and banks who have for so long played on citizens and their wealth. Having a cryptocurrency bank will mean going back to what we have been trying to avoid from the beginning and government and the banks will then continue stealing from us like they have been doing. We definitely dont need cryptocurrency banks, not now not ever.
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April 23, 2019, 10:58:17 PM
 #103

Cryptocurrency world does not need banks now and they dont need it in the future. Cryptocurrency was designed so everyone can own and control their own wealth not banks that will limit your access to your money. We dont need the banks.

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