I agree with a Bitcoin bank so long as it merely an iteration of a "safe" , no fees except for an annual yearly price of let's say $25.
Never any fees!
Topic: - page 40. (Read 142327 times)
Bitcoin is an ideal system that is designed to do without the services of banks. Therefore, I do not understand why complicating this process. Bitcoin Bank will not bring anything for users except for extra costs and control
Have you used a web wallet yourself?
Even if you have, you certainly didn't (try to) use the official Bitcoin client since otherwise you would have known that wallets are not really complicating the process. They are in fact simplifying it by hiding all the gory details from the user's eyes. The user doesn't have to know anything about Bitcoin inner workings, how it is built and of which parts it is made (blockchain, blocksizes, etc). He just need to learn what Bitcoin address is, and that's pretty much all
Which certain body do you refer to?
And how these banks are ever going to negatively affect Bitcoin users so that their numbers will be diminishing? People here continue to stubbornly assume that someone (say, government) will be forcing them to use these banks. No one can force you to use them. Moreover, just because of that Bitcoin banks if they should really spring up (which seems to be still far in the future, anyway) should offer very lucrative terms to attract Bitcoin users, certainly not in the way regular banks do, which you do have to use if you are going to transact online
Bitcoin is an ideal system that is designed to do without the services of banks. Therefore, I do not understand why complicating this process. Bitcoin Bank will not bring anything for users except for extra costs and control
Have you used a web wallet yourself?
Even if you have, you certainly didn't (try to) use the official Bitcoin client since otherwise you would have known that wallets are not really complicating the process. They are in fact simplifying it by hiding all the gory details from the user's eyes. The user doesn't have to know anything about Bitcoin inner workings, how it is built and of which parts it is made (blockchain, blocksizes, etc). He just need to learn what Bitcoin address is, and that's pretty much all
Bitcoin bank will only make your identity uncovered and eliminate the decentralization of bitcoin. The bitcoin you store will be in control as well as your identity
Yeah and that is going to make bitcoin useless for being a anonymous crypto currency.Since banks are centralized and will require us with our information.
There would be no hidden information when we transact. For me it's not a good idea if you are going to use their service.
But of the economy of bitcoin and for the sake of the market, it is good for the adoption.
Bitcoin is decentralized while bank is centralized, how can unite two opposite ideology?
They are not opposites
If it were really so, we wouldn't have Bitcoin mining heavily centralized in the first place as of now. So it is dubious that Bitcoin is as decentralized as we are made to believe. Further, it is not banks that are centralized, banks as separate economic agents are no more centralized that any other economic agents out there (including individual Bitcoin holders and users). It is a banking system which is centralized around a central bank, but Bitcoin banks would be beyond this system altogether since the latter is centralized only in terms of fiat
Yeah why not , if u have a lot of money and u want to turn into BTC and u can save in bitcoin bank , to use in past with "credicard".
For now it seems there is no bitcoin bank. After all, few users are interested. I myself was not interested because I much prefer storing bitcoin in the walletThe manipulation of the bitcoin price can be a major issue in it. As the bank will be the only institution holding the bitcoin, with this we may face numerous problems. The best thing to do is to educate all the users of the bitcoin about how to secure their coins. Use the best wallet systems that are trustworthy of the systems with a minimum ratio of risk to the hackers and other stuff like that.
Bitcoin is anonymous and decentralized, while bank is not anonymous and is controlled by the government. The whole point of bitcoin will be destroyed if the idea of bitcoin bank is implemented. It'll be just like fiat. I liked bitcoin because you don't need to have a bank to start earning
As to me, these are not the best selling points of Bitcoin
Bitcoin is not anonymous as coins which specifically aimed at anonymity, and whatever anonymity it has seems to have come mostly as a beneficial side effect due to its nature as a decentralized currency. Regarding (lack of) government control, it is not so much about this control either (or lack thereof) as ease of transacting in Internet without regular banks as intermediaries and all the hassle they bring with them like registration which requires papers as well as cumbersome payment process
A bank pretty much undermines the decentralized approach of the bitcoin system.
While users new to bitcoin might find it decent to have the responsibility for maintaining their funds at trusted hands and eradicating the need for periodical backups, it is reducing general anonymity and privacy and increasing the probability of a focused attack.
Any system that should meet demands of privacy needs more action from its users, since privacy always means keeping essential data and secrets private. But in my opinion, it's worth the extra effort.
While users new to bitcoin might find it decent to have the responsibility for maintaining their funds at trusted hands and eradicating the need for periodical backups, it is reducing general anonymity and privacy and increasing the probability of a focused attack.
Any system that should meet demands of privacy needs more action from its users, since privacy always means keeping essential data and secrets private. But in my opinion, it's worth the extra effort.
I am against the idea of a Bitcoin Bank because I don't want anyone to hold my Bitcoin. I mean why should I want to do that when I could easily make an interest off of Bitcoin's price going up?
Being greedy is a good method to losing money.
Being greedy is a good method to losing money.
Yes, banks earn money just by letting your money quiet there, you need to pay fees for them everytime for everything you do, they just want to take fees, fees and more fees. Our profit could be much bigger if we could just skip them.
We can store bitcoins for free on our wallets forever, we just need to pay fees to move the money, but all the rest can be done for free, that is the beauty of digital currency. Bankers would ruin it.
Bankers are more likely to soft-break the maximum amount of Bitcoin than anything else. Some security systems would be respectable, but most aren't.
I am against the idea of a Bitcoin Bank because I don't want anyone to hold my Bitcoin. I mean why should I want to do that when I could easily make an interest off of Bitcoin's price going up?
Being greedy is a good method to losing money.
banking system and bitcoin system itself is against each other ,Being greedy is a good method to losing money.
so pretty clear you don't have to expect there is a bitcoin bank ,
just let it be , no benefit at all right to have a bank of bitcoin ?
Bitcoin is anonymous and decentralized, while bank is not anonymous and is controlled by the government. The whole point of bitcoin will be destroyed if the idea of bitcoin bank is implemented. It'll be just like fiat. I liked bitcoin because you don't need to have a bank to start earning.
I am against the idea of a Bitcoin Bank because I don't want anyone to hold my Bitcoin. I mean why should I want to do that when I could easily make an interest off of Bitcoin's price going up?
Being greedy is a good method to losing money.
Being greedy is a good method to losing money.
Yes, banks earn money just by letting your money quiet there, you need to pay fees for them everytime for everything you do, they just want to take fees, fees and more fees. Our profit could be much bigger if we could just skip them.
We can store bitcoins for free on our wallets forever, we just need to pay fees to move the money, but all the rest can be done for free, that is the beauty of digital currency. Bankers would ruin it.
Yes I agree with the idea of bitcoin bank because of the security reasons which of our money that has very good foundation, unlike with online wallets which is very prone to hacker attacks. If banking will implement this ways of digital currency it should be an offline system and you can only access your account prior local system transactions made personally in the bitcoin banking system in order to prevent bitcoin stealing, like possible bank robberies which there is no fiat cash form of money.
i think the bitcoin bank is not such a good idea, as we are already tired from the traditional banking system, therefore i will never like to continue such a boring system. i think the online wallet system is the best system as i am using it for such a long time and will like to continue, because i can access to my online account from anywhere and at any time. 
One more question I want to raise. Is that idea go along with the philosophy of Bitcoin?.If you say yes then I have no disagreement on this point but if it goes against the theme of Bitcoin then I will not totally assent with that.
But I think Bitcoin Bank would be more inconvenient for surviving it's existence.
But I think Bitcoin Bank would be more inconvenient for surviving it's existence.
How is this thread 40+ pages long? I am pretty sure that if the OP wanted to make a Bitcoin Bank then the OP would have did it already. Bitcoin Banks just reminds me of people lending Bitcoins and that is just what it is right? If I had the choice within the near future that I had to choose that a person can hold my Bitcoins for x amount of interest earned on it or just keep my Bitcoin in my Bitcoin address then I would just keep my Bitcoin.
All concerned about bank I think will not apply in the bitcoin, because when someone who is already familiar with the primacy of bitcoin will easily to leave the bank system (except when saving a lot of money). Because banks will only provide a great loss to those who are bad enough in managing their finances. A bank is a place that is only suitable for use as a storage of money when we use money as a means of payment or investment I'm sure won't give you a huge advantage unless indeed do a great investment
bitcoin banks will be inevitable. People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money
Yes this is really a great idea having a bitcoin banks but we know that we use bitcoin wallet to store our bitcoins but if bitcoins in our bitcoins bank can make money or have a capital as time passes this can be a great idea and can be use like a investment but you need a high fund to advertise a lot to make bitcoin user's put there bitcoin in bitcoin banks.
It is a great idea for the adoption but our wallets is already serving as our banks. With this type of idea, we will be taxed by the bank and we will be charged for using their service. If this is going to happen, I will be glad that it is really happening but there's no way for me to use their service or maybe if I'm desperate in need of bitcoin.
Bitcoin banks could be a great idea and actually there are already some moves to create it. The problem with banks is not with banks at all but with the rules and policies that they have. And so if we were to create and accept and use a bitcoin bank we must also secure that the policies made to be used in that banks will be pro-user and not a profit oriented principle that only the banking owners will enjoy.
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