Topic: - page 4. (Read 142326 times)
I actually use Chase as my "Bitcoin Bank". I have an envelope containing a cold storage private key printed on paper and a USB containing an encrypted wallet.dat which I have placed in a Chase safety deposit box. I had to recently visit Chase to move the coins to a new address for replay protection purposes.
Bitcoin, like the other crypto currency, does not need banks to store these assets there. It's even a stupid idea. The most reliable bank for storage is cold storage in a digital purse. And the very meaning of such a bank is incomprehensible. This, in fact, should be a room with servers for storing information. I personally do not see the point in this.
this is antithetical to what bitcoin stands/meant for. it's interesting, but i think it would bring us back to square one. having a bank would mean someone is in power.
Bank, in terms of crypto, doesn't mean that someone would actually posses your currency
This seems awesome proposal. How long time ago no one does that?
It's a terrible proposal and goes against the core values of crypto.What are the core values of crypto and what do you understand under the "cryptobank" term?
This seems awesome proposal. How long time ago no one does that?
It's a terrible proposal and goes against the core values of crypto. There are multiple ways people can store bitcoins offline, using either a paper wallet or hardware options from companies like Trezor, Opendime, Ledger, and Keepkey.
You know bitcoin is a currency and a digital currency so if it is a currency then it must need a bank to securer and help people to invest in bitcoin easy but also to the popularity and spreading of bitcoin all over the world don’t need any bank etc because as we see bitcoin become more popular without having any help. I don't get the point of having Bitcoin Bank in cryptocurrency. I am not in favor of this kind of idea. What i most like about BTC is for being decentralized.
In my opinion, having bitcoin bank may let BTC become centralized because a new party may control our BTC.
I don’t think so because in some cases it need to have ‘bitcoin bank” but in some cases it doesn’t need any bank etc because in bitcoin there are a lot of things happened everyday and also the main point is price of bitcoin which is not stable and change in every moment so that’s why I prefer that it doesn’t need to have bitcoin bank because now the speed of popularity of bitcoin is also fine and if it go like that then future of bitcoin will be good. In my opinion, having bitcoin bank may let BTC become centralized because a new party may control our BTC.
Bitcoin is not fiat currency that needs a physical place to store the currency. Bitcoin is a digital currency so it does not need to be operated by any bank.
Fiat currency doesn't need a physical space either. In fact, most of fiat money only exists digitally. 
I think having bitcoin is also having a bank with a currency using bitcoin. Example of the bank i mention is your wallet, since it work like a bank that can be transacted anywhere and everywhere.
I think it different, if we use the services of the bank then it is the same with the services of many third party rules, now the wallet is not much rules so in a matter of minutes we can open the wallet and is actively used.
No.
Bitcoin/Crypto Currency is freedom. We must not go back. We must go forward!
Not only it will be a step backwards it could steal from us the last opportunity to change the system, after bitcoin then what can be possible invented that can be better than what we have, it is very difficult to imagine something better than bitcoin so the hegemony of banks will continue uninterrupted for a long time if we let that happen.Bitcoin/Crypto Currency is freedom. We must not go back. We must go forward!
The opportunity to centralise and control emission of cryptocurrency is already lost for banks. I don't think a bank will seriously give a try. But banking services is not about 'centralise, control and make evil' only. It's more about the low fees and high speed of transactions, it's big infrastructure that exists already and almost ready to work with cryptocurrencies.
I also disagree with that crazy idea , what guarantee does the bank offer for security ? it is difficult to be realized because of the decentitization of Bitcoin.
although Bitcoin transactions are Transparent but it is still difficult to trace who owns them.
Tracing isn't so much the problem. But if the bank "loses" access to the coins there will be nobody to bail the people out and the money will be lost. So it's better to store the coins yourself.although Bitcoin transactions are Transparent but it is still difficult to trace who owns them.
I think people have proven too stupid in some cases to handle the responsibility of handling their own private key. I think there is market demand for a person to have "peace of mind" by locking it up in multi-signature wallets in physical underground locations, for a premium of course.
True... I wonder how many coins have been permanently lost so far. Jump to: