Bitcoin bank?

[mrozzsr]

Is there any place in market for concept of Bitcoin bank?

Benefits of secured value combined with anonymity and speed of bitcoin network.

Any suggestions or opinions?

[Valzador]

Is there any place in market for concept of Bitcoin bank?

Benefits of secured value combined with anonymity and speed of bitcoin network.

Any suggestions or opinions?

Well, since the main idea behind Bitcoin was to create a decentralized currency where the big guys don't give out loans and charge huge interest rates, I don't think a Bitcoin Bank is a great idea.

[cloverme]

Is there any place in market for concept of Bitcoin bank?

Benefits of secured value combined with anonymity and speed of bitcoin network.

Any suggestions or opinions?

As far as a bank goes. not really, it goes against the main concept of using it...as already mentioned.  Some people have started funds that allow you to deposit bitcoin and "lock in" a value, which is usually backed by some commodity (gold/silver/etc).  ATMs were pretty popular, but you also need to register as a money transmitter too (in the US).  Bitcoin is disruptive to the banking establishment, so it tips the apple cart of all the industries that have sat upon that throne for the past couple of hundred years. Because of that, you would have a hard time getting a foothold in traditional banking.

[cbeast]

Young entrepreneurs need startup money for local businesses. Families need homes. Municipalities need fire departments. Sure there will be a need for banks. Where else would they get money?

[548845]

Young entrepreneurs need startup money for local businesses. Families need homes. Municipalities need fire departments. Sure there will be a need for banks. Where else would they get money?

^^^ This.

As much as you hate banks, the world needs them.
This is why they got the population enslaved, because they need them.

That being said, there are Bitcoin banks but don't give out loans yet.
Coinbase can be considered a bank and so can Circle.
They don't give out loans yet, but who knows.

[mrozzsr]

Main idea was not providing loans,even in later stages it will be way of generating profit,and supporting comunity.
my idea was to concentrate btc value,with services such as free transfers between accounts,exchange, buy/sell with direct exchange from/to fiat,and secure capital of whole group of btc owners by single subject.

Posted From bitcointalk.org Android App

[LOBSTER]

I roughly compare the Bitcoin markets (e.g. Bitstamp or Kraken) with the "bank". You can store your Bitcoins there, you can exchange them and you can withdraw them. For sure, it's no real bank. A bank in this correlation would be Blockchain.info Wallet, Bitcoin-Qt or a Paper Wallet. The one and only difference is, that no third-party can freeze your coins + you get no interests on your holdings.

[HeroCat]

Well, yes - I also think - there can be the BTC bank, even in virtual way - but till today no one want to create virtual BTC bank, because there is a large credit risk - you can loose your BTC credits

[pumpitloud]

Eeven though there probably isn't a place for a BTC Bank, I still don't think we should make the name "bank" redundant. This will help people understand and familiarise themselves with the concept.

[LOBSTER]

Eeven though there probably isn't a place for a BTC Bank, I still don't think we should make the name "bank" redundant. This will help people understand and familiarise themselves with the concept.

But then we would lie the majority. Because in the Bitcoin world there isn't a bank. You are the bank and that must me clear for everyone. Bitcoin is something new, we can't compare it with our old money / fiat system, based on capitalism and a huge discrepancy between rich and poor...

[mrozzsr]

Well, yes - I also think - there can be the BTC bank, even in virtual way - but till today no one want to create virtual BTC bank, because there is a large credit risk - you can loose your BTC credits

Bitcoin bank can have potential in investments, and definetely it could be vital enough to keep working, it depends only on investment and credit risk policy adapted.
Only problem is to convince people to trust starting institution such as virtual bank.
In my opinion, it is possible to develop idea, and maybe when whole concept of bitcoin become more mature, bank should be created.

[mrozzsr]

But then we would lie the majority. Because in the Bitcoin world there isn't a bank. You are the bank and that must me clear for everyone. Bitcoin is something new, we can't compare it with our old money / fiat system, based on capitalism and a huge discrepancy between rich and poor...

Yes We cant compare it to FIAT, bt people allways need, and surely they will seek and trust, some subject that will provide them some security in financial way.

In my opinion Bank could be created, and of course it need to will have some similarity with Fiat system. Even bitcoin is something new, it is created within capitalism, and it adapt some of its principles, so idea of bank as system tool of capitalism teoretically could be real.

[LOBSTER]

But then we would lie the majority. Because in the Bitcoin world there isn't a bank. You are the bank and that must me clear for everyone. Bitcoin is something new, we can't compare it with our old money / fiat system, based on capitalism and a huge discrepancy between rich and poor...

Yes We cant compare it to FIAT, bt people allways need, and surely they will seek and trust, some subject that will provide them some security in financial way.

In my opinion Bank could be created, and of course it need to will have some similarity with Fiat system. Even bitcoin is something new, it is created within capitalism, and it adapt some of its principles, so idea of bank as system tool of capitalism teoretically could be real.

For sure, Bitcoin has the image of a free market economy and is actually also a free market economy. You can explain that with the simple economy preferences (e.g. supply and demand etc.). Because there is no control of Bitcoin (it's decentralized), the Bitcoin hasn't the image of a social market economy...so we need no bank.

[Najska]

We are creating a full-reserve crypto-bank. Check my signature.

[mrozzsr]

We are creating a full-reserve crypto-bank. Check my signature.

hi. iam discussing about bitcoin project,which will work with bitcoin and will work on its existing infrastructure,and possibly links allready existing projects.

Posted From bitcointalk.org Android App

[Najska]

We are creating a full-reserve crypto-bank. Check my signature.

hi. iam discussing about bitcoin project,which will work with bitcoin and will work on its existing infrastructure,and possibly links allready existing projects.

Posted From bitcointalk.org Android App

You may check NXT's multigateway bitcoins. With Crypto Reserve, that feature may act like a frictionless bitcoin bank utilizing the bitcoin's own blockchain - together with Crypto Reserve's blockchain.

[Kprawn]

You should not even use those two words together. 

We should pioneer new creative ways to move away from the traditional "Banking" thinking... and build on something new. 

[redsn0w]

Your wallet is your bank , Be the bank of yourself . You have the control of all your money , you don't need a bank. I think you didn't understand what is the sense of bitcoin....

[im0rtel]

the people that try to tell you that you dont need a bank are full of hot air.

want a bitcoin bank ? make it yourself. the wallet is simply a wallet nothing more nothing less.

[bitkilo]

There has been some talk about this for awhile now, cheak out this thread
https://bitcointalk.org/index.php?topic=755490.0;topicseen