Topic: - page 10. (Read 142326 times)
It could have some common sense for referring to Bitcoin bank since it is decentralized wallet so it should be in invisible technique, else everyone will get taxation.
Every Govt won't allow for having Bitcoin Bank as they have some strict rules to set up a bank.
Every Govt won't allow for having Bitcoin Bank as they have some strict rules to set up a bank.
It seems crazy to store/deposit BTC in a bank. But I had another idea while thinking about it, at this point in most of the countries cryptocurrency world and paper money world are totally separated, in some countries it is impossible to legally buy products for cryptocurrencies or convert cryptocurrencies to paper money. The idea would be real great to link those to worlds up by creating a hub platform for exchanging all existing cryptocurrencies (not just bitcoin or etherium etc.) into paper money OR even make platform for INSTANT exchange and payment... Such "Bank" could really change the world
I think it's reasonable to have such a mediator only if it is decentralized. So, someone who will implement it will bring the fiture of cryptoecomomics. But currently existing blockchains have not the required scalability. And moving from centralized systems to decentralized is a gradual process. Bitcoin banks is a good idea because it will help people to secure and put in a safe place their bitcoin because if we are going to have a bitcoin bank then there is nothing to worry about t he wallets that we are using because they will take care of it and give the maximum security for our bitcoin as much as possible.
Now itself with the people who have some skills and knowledge about the technology consider bitcoin wallets as their own bank with full freedom. When an idea of bitcoin banking is initiated, automatically it will get into the hands of some people who is responsible for each and every activities. So, if a person does a mistake by scamming an user it affects the entire network. Better is to serve as it is now.
It seems crazy to store/deposit BTC in a bank. But I had another idea while thinking about it, at this point in most of the countries cryptocurrency world and paper money world are totally separated, in some countries it is impossible to legally buy products for cryptocurrencies or convert cryptocurrencies to paper money. The idea would be real great to link those to worlds up by creating a hub platform for exchanging all existing cryptocurrencies (not just bitcoin or etherium etc.) into paper money OR even make platform for INSTANT exchange and payment... Such "Bank" could really change the world
Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Same sentiments here. What "bitcoin bank" really do? We will deposits our bitcoin to him?
If that happens,the real essence of bitcoin will be lost I think. People wants to hold or store their bitcoin,where they can spend anytime.
Bitcoin banks is a good idea because it will help people to secure and put in a safe place their bitcoin because if we are going to have a bitcoin bank then there is nothing to worry about t he wallets that we are using because they will take care of it and give the maximum security for our bitcoin as much as possible.
I think the bank is a place to save money. Instead of xapo, coinbase, and blockchain.info it is a Bitcoin bank. the bank already exists, why are you talking about it?
If you are talking about like middleages banks, then yes, bank is just a safe place for money. Current, or, i'd even say a legacy banking system, which opirates with fiat, has a lot more of functions and beleive it or not, cryptocurrency banks will exceed those in a number of functions, benefiting those, who choose crypto
Bitcoin is sign of liberty and decentralization, obtaining a bank with DB of all the clients, silly concept.
When talking about cryptocurrency the meaning of the word "bank" changes. It's not like with fiat banks. Blockchain and decentralization still works
Exactly. What is a fundamental product banks produce? Ability to trust the financial system. I see it like in situation with traditional banks people buy trust from banks. Banks sell trust and provide safe transactions, help to use money globally, and make other useful stuff. It's like exchange of trust to money. In the situation of blockchain-based cryptoeconomy people don't need to trust the system anymore. That fact misleads many people to the point that we don't need banks anymore.
Since blockchain solves the problem of trust in financial transaction instead people don't need to storage money in banks. That's true. But it doesn't mean people don't need banks. Banks have a big technological infrastructure and the best financial expertise in risks avoiding.
Also current cryptocurrency system lacks speed and use cases and a good cryptocurrency bank can solve those problems
Bitcoin is sign of liberty and decentralization, obtaining a bank with DB of all the clients, silly concept.
When talking about cryptocurrency the meaning of the word "bank" changes. It's not like with fiat banks. Blockchain and decentralization still works
Exactly. What is a fundamental product banks produce? Ability to trust the financial system. I see it like in situation with traditional banks people buy trust from banks. Banks sell trust and provide safe transactions, help to use money globally, and make other useful stuff. It's like exchange of trust to money. In the situation of blockchain-based cryptoeconomy people don't need to trust the system anymore. That fact misleads many people to the point that we don't need banks anymore.
Since blockchain solves the problem of trust in financial transaction instead people don't need to storage money in banks. That's true. But it doesn't mean people don't need banks. Banks have a big technological infrastructure and the best financial expertise in risks avoiding.
Yes of course, i agree with the idea of Bitcoin bank instead of real one, because in case of a virtual bank, there will be not taxes and impositions while real banks are so greedy about money. Added to that, the price of bitcoin is so impressive wich attracts everyone to come and invest.
Just like what the traditional banks, they will just your deposited bitcoins in their own desires and wants and you will not notice it because the only thing that you know about banks is they are doing good in your money and they are just keeping your money in a safe place but in reality, they are using your bitcoin to their seen opportunities to generate more so you are like lending the bank so it is better to keep it on our own rather than to trust bitcoin bank.That's not really necessary for a bitcoin bank to store your deposited bitcoins to provide you with some banking services. It just needs to have an access to your wallet.
Agree with this. More than that I almost don't care about my anonimity and have never had a problem with that. Perhaps it because I'm not rich and do any crime. So why should I restrict myself from some part comfort that I could have
Yes of course, i agree with the idea of Bitcoin bank instead of real one, because in case of a virtual bank, there will be not taxes and impositions while real banks are so greedy about money. Added to that, the price of bitcoin is so impressive wich attracts everyone to come and invest.
Just like what the traditional banks, they will just your deposited bitcoins in their own desires and wants and you will not notice it because the only thing that you know about banks is they are doing good in your money and they are just keeping your money in a safe place but in reality, they are using your bitcoin to their seen opportunities to generate more so you are like lending the bank so it is better to keep it on our own rather than to trust bitcoin bank.That's not really necessary for a bitcoin bank to store your deposited bitcoins to provide you with some banking services. It just needs to have an access to your wallet.
Yes of course, i agree with the idea of Bitcoin bank instead of real one, because in case of a virtual bank, there will be not taxes and impositions while real banks are so greedy about money. Added to that, the price of bitcoin is so impressive wich attracts everyone to come and invest.
Just like what the traditional banks, they will just your deposited bitcoins in their own desires and wants and you will not notice it because the only thing that you know about banks is they are doing good in your money and they are just keeping your money in a safe place but in reality, they are using your bitcoin to their seen opportunities to generate more so you are like lending the bank so it is better to keep it on our own rather than to trust bitcoin bank.
Yes of course, i agree with the idea of Bitcoin bank instead of real one, because in case of a virtual bank, there will be not taxes and impositions while real banks are so greedy about money. Added to that, the price of bitcoin is so impressive wich attracts everyone to come and invest.
Why do we need "Bitcoin bank" where in fact we already have bank in the forms of web based wallets that are reliable and secure for a long time? Well, not unless if all those wallets will have bad issues that would destroy their reputations to its users would then be the best reason to shift to that "Bitcoin bank" with no ounce of hesitation.
What is the use of bitcoin wallets if there are bitcoin banks? I mean, you can just save your bitcoins in your bitcoin wallet and not in these "bitcoin banks"? Better use a bitcoin wallet where no one is controling and holding my bitcoin but myself. Also I can manage it in my own, well if the user has their porblem in holding and using his or her bitcoins they can hire someone or a third party to help them.
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