Bitcoin bank, Necessary?

[gundala]

It is not neccessary at all to have that bank because if we will be having it, I am expecting that goverment will regulate us , a lot of files are needed to be done and to be pass , every move that we will be doing will need their approval, there are some atm machines, I think it is enough  , a private company without government rule is good.

You are right, if we refer to the fundamental reasons for the creation of Bitcoin then we will know that it is completely unnecessary, whereas cryptocurrency is for decentralization. So if you go back to the Bank system, it means that there is no change. And the expected privacy and anonymity will disappear. So let us maximize the existing order, whether there is legality or not, as long as it is not prohibited then we are free to express ourselves, right? so use this opportunity as best you can.

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[FanatMonet]

I do not like the idea of ​​introducing bitcoins into the banking system. Otherwise, this is not decentralization, but a bank, which will simply deal with cryptocurrencies instead of current currencies.

In my opinion, the idea is not very thought out.

[Polar91]

Community is composed of many sectors that coordinate as one for the country to develop. Banks financtial institution is one of the sectors that perform one of the vital roles which circulates currency for daily living. Incorporating bitcoin banks is one of the ideas they have which is for me, a way to continue their job but not completely a creation of banks intended for bitcoin. Here's why: for me, having banks intended for bitcoin is a waste of money, establishments doesn't need to be created because bitcoin is running over the metwork. In such a case that what we need is jist internet connection, a hardware wallet or other secured wallet to safely store our funds.

One of the things banks could consider to to is to just incorporate bitcoin to existing branches they have, and have a very secured node or  computer to store cryptocurrency and to process crypto for people. Though, the main function I can just see is when people tends to buy bitcoin, they could easily transfer their funds from that particular bank and accumulate bitcoin directly. In addition, banks might as well consider having huge bitcoin pool, incase people's deman increases.

As you can notice, I am just incorporating banks because I believe banks is one of the necessary sectors of our community, in fact, bitcoin alone with its nodes could survive, and provide better service at all.

On last idea I have about this is that,

Banks could possibly run bitcoin ATM, where people could cash out and cash in their funds, to make accumulation of bitcoins allot easier. But remember, with all these things, we could lose one thing, and that is our anonymity.

[bitgolden]

Actually, creating bitcoin banks means centralizing bitcoins. This would never be something expected by us. We do not really want bitcoins to be centralized or by governed by any of the governments which actually you wanted to say. All those illegal transactions would only be stopped if even someone sits 24 hours in front of the screen monitoring each and every transaction.

This would not even make us feel secure and I am sure that the governments from all over the nations would get busy in blocking the wallets with excess amount of bitcoins. Bitcoins would never be meant to be safe again if this even happens so I am happy with what bitcoins are now and I am not really expecting bitcoin banks to be announced.

[Finestream]

Banking industry will never be decentralized, it will remain centralize and still win cater the people who are using fiat,  and of course fiat will never be lost in  circulation as it would still dominate since we have the government.

Bitcoin bank is just likely the exchanges that we are using now, and maybe there are banks that will start accepting bitcoin but that is going to be subject to the law of the government, if you want to be anonymous and you don't want to declare your assets, you don't use bitcoin bank.

[doomloop]

Actually, creating bitcoin banks means centralizing bitcoins. This would never be something expected by us. We do not really want bitcoins to be centralized or by governed by any of the governments which actually you wanted to say. All those illegal transactions would only be stopped if even someone sits 24 hours in front of the screen monitoring each and every transaction.

This would not even make us feel secure and I am sure that the governments from all over the nations would get busy in blocking the wallets with excess amount of bitcoins. Bitcoins would never be meant to be safe again if this even happens so I am happy with what bitcoins are now and I am not really expecting bitcoin banks to be announced.

As the centralized nature of Bitcoin is not accepted by us, it is not accepted by Bitcoin itself. Changing it into centralized will snatch the security and safety of Bitcoin, this would change the nature of it. The qualities that make Bitcoin attractive will be lost and there will be no value in it. That is why there is no need of Banking for crypto, it was developed in self-governing way and would remain the same.

[Zionatin]

Bitcoin and bank are terms that shouldn't go in the same sentence together, because Bitcoin is and was created to oppose the central authority that banks held. So, I will surely oppose a bank on Bitcoin

Precisely and it is a silly topic I think. Not having to rely on banks is the whole point of bitcoin and crypto and it is a main reason why I use it. Being paid is easy and you don't have to worry about someone reversing the payment or defrauding you. Once you are paid you are paid end of the story. If you need the ability to send payments back for a market or online store then you can use a payment processor and people can get a refund. YTo solves the issue of someone being paid and no item being sent you simply use escrow and the person who received the item can take a picture of it and then the escrow is released. It's brilliant and trustless.

[jostorres]

I do not like the idea of ​​introducing bitcoins into the banking system. Otherwise, this is not decentralization, but a bank, which will simply deal with cryptocurrencies instead of current currencies.

In my opinion, the idea is not very thought out.

Assuming banks always creates a image in our mind about the traditional methods of banking. Banking systems are been changing and getting more advanced. Banking sector is one of the most important sector in any country as the economic and financial situation of the country might wholly depend on the banks of the country.

Moreover, the circulation of money is been carried from each respective banks and banks are responsible for the developments faced by the country as each development needs finance which is been provided by the banks. Introducing blockchain into the banking sector can change a lot of things which we cannot even imagine. Banking would entirely change it's roots if ever blockchain enters the mainstream.