Bitcoin bank, Necessary?

[BeManga]

Bitcoin can be the future bank all over the world. It might be similar value of World Bank.

Now a days there are so many big transactions are done with crypto currency. If people don’t want to tell globally about their transactions they may use crypto in big number of amount in a single transaction, and nobody else can recognize that why and what they do transfer.

If there any kind of illegal activities involved in that transaction then if there is bitcoin bank exist over there then some kind of transactions may be stop by the bank.

In that case all the government make bitcoin bank in future, they will ask for all account’s details and the person who access the account. If all holders gives them details then it will be it safe or not?

in terms of storing our bitcoin, I don't think we need a bank
because our own wallet is already like a bank

[tippytoes]

in terms of storing our bitcoin, I don't think we need a bank
because our own wallet is already like a bank

And that is the reason why we don't need a bitcoin bank. We can already manage our own bitcoin without the help of third party. And others are right, there's no point of this bitcoin creation if there will be a centralized bitcoin bank. And by the way, do bitcoin users or owners really want to have one? I guess not.

[Colt81]

I don't think we need banks to store our bitcoins to keep it safe and secured because we can store our bitcoins in our bitcoin wallets, which it is also safe and secured, so what is the point of storing our bitcoins in banks if it is more easy to store all of our bitcoins to ourselves.

[imstillthebest]

No, we don't need another banking system. Otherwise, what's the point?

whats the point of cryptos  ? but cryptos did say that they are bank  ? i heard cryptos was formaly introduced as a currency or a payment method  but people push and say that it can be also good to use as a bank , idk why  . bank because it gives interest or returns simillar to banks  ?  but not all times and it also risky because the money you put can go down as well  but anyways  if there are bank for gold and fiat then why not for bitcoin and cryptos   ?

[Hamphser]

If there any kind of illegal activities involved in that transaction then if there is bitcoin bank exist over there then some kind of transactions may be stop by the bank.

Sounds like a joke. Bitcoin is a decentralized coin. If it becomes centralized then what is the point? you mean to say the coin should loss its unique property?

Owning a bitcoin probably need the private key required to access your bitcoin in a secure wallet. Now, if there is a bank of bitcoin, do you think your private key is safe anymore? That's the difference of a centralized and decentralized cryptocurrency. Don't trust any banks be your own bank.

[btccashacc]

I Just don't get it why do people have to use Bank? I mean why do people think that bank should be integrated with bitcoin while Satoshi created bitcoin in the first place to eliminate the 3rd party in this case is Bank. Using bitcoin meaning that you are controlling your money not another party, well basically you are the bank, your responsibility is to make sure that you're keeping your private key safe, that's all.

[rijaljun]

In that case all the government make bitcoin bank in future, they will ask for all account’s details and the person who access the account. If all holders gives them details then it will be it safe or not?

Not about safe or not, Bitcoin is invented to give people a full of freedom where they can control their own money, create their own transaction and hide themselves.

In case there is a bitcoin bank, there must be an entity that control our activity and it must be no longer decentralized.

[YuginKadoya]

Bitcoin can not be controlled by anybody so the bank is not Necessary, Bitcoin can do it all by itself it is a decentralized technology that need not anybody, Apparantly Bitcoin will be the future it can also become a great currency of the future but restraining it in a form of a centralized bank it not a guaranteed shot to happen, Maybe it can be processed by banks but it can not be controlled or be taken by banks as a tool for themselves. 

[kryptqnick]

Bitcoin can be the future bank all over the world. It might be similar value of World Bank.

Now a days there are so many big transactions are done with crypto currency. If people don’t want to tell globally about their transactions they may use crypto in big number of amount in a single transaction, and nobody else can recognize that why and what they do transfer.

If there any kind of illegal activities involved in that transaction then if there is bitcoin bank exist over there then some kind of transactions may be stop by the bank.

In that case all the government make bitcoin bank in future, they will ask for all account’s details and the person who access the account. If all holders gives them details then it will be it safe or not?

I am not sure about this. Bitcoin does not need a bank, because Bitcoin is what shows that the bank is unnecessary. In a way, Bitcoin is the bank. Moreover, Bitcoin stands again centralization, so making it centralized via organizing a single bank responsible for stuff is betrayal. At the same time, I believe that some banks will start to allow people to keep their Bitcoins there and perhaps even open Bitcoin bank accounts. I am also pretty sure that some people would even do that because it gives someone to blame in case something happens, the feeling of safety and other benefits like when you have to prove you have money for visa/credit or something else, you can make a Bitcoin bank statement.

[Ozero]

In my opinion, a bitcoin bank as an organizational add-on is absolutely not needed. A decentralized cryptocurrency does not need centralized management. This contradicts the very nature of bitcoin.
Bitcoin can only cooperate with the existing banking system for the convenience of its use by people. Banks can provide services for exchanging bitcoin and other cryptocurrencies for ordinary currency, as well as provide for various combinations of its practical use with their bank payment cards.

[Aikidoka]

There is no point in storing bitcoin in banks as I know, bitcoin is decentralized and I don't know why we should hold them in banks instead on our personal wallets, We're not talking here about physical money, It's just virtual money, which it's can be able to hold of yourself online, so bitcoin banks are really unnecessary as people who use bitcoin wants to be anonym and not sharing personal stuffs.

[bangjoe]

I chose neutral because I wasn't sure the bank would be able to create a system that could control coins that were able to move in decentralization, there would be many loopholes of problems they would face. not really needed because of these complicated things, fluctuations in bitcoin prices will also confuse the system, because so far they have facilitated the system with a currency / asset that has a measured value.

[FlightyPouch]

Bitcoin can be the future bank of the world? The existence of it is that so we can manage for our own so we don't need a bank. I don't know why would we even have a bitcoin bank if its existence is to cancel each other. It is not necessary, you take care of your wallet, I will take care of mine, it is that easy.

[X-ray]

bank is not necessary, there are centralized services that acts just like bank, for example coinbase that hold so many bitcoins from it users I think that could be considered as bank equivalent at this point and honestly having bank for crypto sounds stupid. the point of crypto is to get away from bank and this idea is simply like trying to go against that ideal.

[d.kevin29]

bank is not necessary, there are centralized services that acts just like bank, for example coinbase that hold so many bitcoins from it users I think that could be considered as bank equivalent at this point and honestly having bank for crypto sounds stupid. the point of crypto is to get away from bank and this idea is simply like trying to go against that ideal.

Bitcoin was created to eliminate third parties. Having your funds on Coinbase is basically doing exactly what Bitcoin was made to combat. Coinbase is some kind of modern banking system, it's a centralized wallet. The point in using Bitcoin is being your own bank.. as it's always said, not owning your private keys/seeds = not owning your Bitcoin. With that being said, if you don't eliminate third parties, you're not going to support what Bitcoin was made for. In fact, you're just moving from the actual banking system to the modern one.

[diahsw]

I think, to use bitcoin we don't need a bank, because that will make it even more complicated. a flowering system and a complicated alr will make us think twice about saving in the bank.

[aioc]

Bitcoin can be the future bank all over the world. It might be similar value of World Bank.

Now a days there are so many big transactions are done with crypto currency. If people don’t want to tell globally about their transactions they may use crypto in big number of amount in a single transaction, and nobody else can recognize that why and what they do transfer.

If there any kind of illegal activities involved in that transaction then if there is bitcoin bank exist over there then some kind of transactions may be stop by the bank.

In that case all the government make bitcoin bank in future, they will ask for all account’s details and the person who access the account. If all holders gives them details then it will be it safe or not?

I don't know why the need when we are a bank of our own and besides we all want decentralization here and anonymity, so why push for this kind of program, it's a direct conflict from our interest, I don't think it will be supported if there are plans to set up one, and if you look at the poll many are against it. 

[Murat]

I think the Bank is not feasible for this purpose because Bitcoin is a decentralized currency so how could you link up with this cryptocurrency in Bank, people usually involved in this system only for this reason that no one control over this platform, not only that but also Bitcoin banking idea is not much suited. but If you think about the reserve aspect then the matter is different, I think Bank would be used for the security purpose, At first, we have to focus on the secure wallet system, for me, It's enough to make Bitcoin safe and sound. so from my perception, the Bitcoin bank is not important anymore.

[ragavancoin]

Bitcoin Bank not at all necessary as bitcoin is a decentralized cryptocurrency. Government will never accept bitcoin as it is decentralized. It is not legalized in most of the countries. Wallets are safer as it is peer to peer transaction. As bitcoin is volatile banks will never accept bitcoin in banks.

[YOSHIE]

In that case all the government make bitcoin bank in future, they will ask for all account’s details and the person who access the account. If all holders gives them details then it will be it safe or not?

basically we have to look at the origins of banking, when before forming it into a bank, for what and its purpose ..!
Not as easy as we imagine in the body shape called the Bitcoin Bank.

There is a difference between banks and Bitcoin.

I mean, a type bank in the form of a business entity, meaning to collect all money from the public which is called savings or credit for the prosperity of the wider community.

While Bitcoin is in the form of exchanges and the like, to make money for the people.
For example, gold in exchange will be money, that's physical.
Bitcoin is not physical, it cannot be touched by the public, which is called digital money (electronic).

So, it is quite impossible if Bitcoin Bank was formed for now, many countries have not recognized Bitcoin as legitimate money that is traded publicly.
Only as a digital tool in the form of exchange, to make legitimate money, from each country.