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nethan1btc

sr. member

Activity: 574

Merit: 250

Quote from: BeGoods on March 23, 2017, 09:16:24 AM

Quote from: Bitcoin0916 on March 23, 2017, 08:40:36 AM

Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

With the bank of course many limitations and dependency, if transactions through bank definitely needed a valid data so that if we break the rules of course our money could be suspended unilaterally.

to create an account in any bank you need data such as ID card and the like of course it will be very complicated and of course you will not get freedom in it. So what are the advantages?

That idea about bitcoin bank has to be implemented legally and those account holders will learn from it so that you can be a better account holder. The rules and regulations must be followed because security of your money relied on it and this will be better options to have in the future of your money.

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: Bitcoin0916 on March 23, 2017, 08:40:36 AM

Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

With the bank of course many limitations and dependency, if transactions through bank definitely needed a valid data so that if we break the rules of course our money could be suspended unilaterally.

to create an account in any bank you need data such as ID card and the like of course it will be very complicated and of course you will not get freedom in it. So what are the advantages?

Bitcoin0916

full member

Activity: 238

Merit: 100

Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

With the bank of course many limitations and dependency, if transactions through bank definitely needed a valid data so that if we break the rules of course our money could be suspended unilaterally.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Xester on March 23, 2017, 07:28:03 AM

Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

Bitcoin wallets could be consider our own bank but there are things missing in bitcoin wallets such as insurance and loan service. If our wallet is our bank then it should also provide us loans if we need to and if the site was hacked then the site hosting that wallet will refund our bitcoins. But those features were missing on our wallet thus it cannot be considered a bank but a storage wallet

You could use an exchange account as your web wallet

If an exchange provides trading on margin (there are quite a few such exchanges already), that basically means that users there can lend their funds to traders and thereby earn some interest. Some exchanges (e.g. Bitfinex) also pay the transaction fees for you, so you can use them in absolutely the same way as you would use a typical web wallet like Coinbase or Xapo and at the same time obtain profits by loaning your coins to a trading folk. So the former are closer to an idea of a Bitcoin bank than the latter

Text

hero member

Activity: 2618

Merit: 612

I am already contented on having a storage wallet and I don't need much like a bitcoin bank. I can already earn profits from exchanging unlike bank that you will pay for the loan interest. Also, I can protect my coin like how bank keep safe our money.

MintCondition

legendary

Activity: 1147

Merit: 1007

Quote from: Xester on March 23, 2017, 07:28:03 AM

Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

Bitcoin wallets could be consider our own bank but there are things missing in bitcoin wallets such as insurance and loan service. If our wallet is our bank then it should also provide us loans if we need to and if the site was hacked then the site hosting that wallet will refund our bitcoins. But those features were missing on our wallet thus it cannot be considered a bank but a storage wallet.

Bank is a storage of our money that provides security and we need to pay for that assurance that they were giving, somehow it is like our bitcoin wallet and we ourselves are the guarantor that it is secured , by on how we will take care of it and use it. Bitcoin wallet provides features that banks can as well offer but btc wallets needs more improvement but somehow they were the same as storage.

Xester

hero member

Activity: 994

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Quote from: AjithBtc on March 23, 2017, 04:58:23 AM

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

Bitcoin wallets could be consider our own bank but there are things missing in bitcoin wallets such as insurance and loan service. If our wallet is our bank then it should also provide us loans if we need to and if the site was hacked then the site hosting that wallet will refund our bitcoins. But those features were missing on our wallet thus it cannot be considered a bank but a storage wallet.

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: prayogi on March 20, 2017, 07:36:06 AM

Can it be built bitcoin bank in the country that bitcoin dub illegal business when I hope the government can accept bitcoin in their country, and even better if in the wake of the bank bitcoin I strongly agree that bitcoin bank in tires Huh

the only way to control the user is with bitcoin bitcoin bank if that government efforts may not be a problem to make a bitcoin bank. it's up to you want to use bitcoin bank or not

AjithBtc

sr. member

Activity: 1666

Merit: 276

Bitcoin wallets have been termed as the users own bank which has got features similar to the features available with banking. Even with such a availability certain group of people depend on other person for transaction and other needs for which i suggest bank as a solution for it.

Winner

legendary

Activity: 1190

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Look ARROUND!

I am not sure if you're serious or not in building a Bitcoin Bank. It's pretty hard to build a Bitcoin Bank if you have no type of capital to begin with, the whole point of holding Bitcoin is just so the person could hold their coins and then state that they have an "X" amount of Bitcoins -it isn't about the money really.

If you begin building a Bitcoin Bank, I would suggest that you add on some kind of interest rate so people would get paid for having the coins remain within your Bitcoin Bank. Perhaps you could duplicate the wallet file and allow the person who deposited Bitcoin to spend the coins whenever they please?

mastermold

full member

Activity: 168

Merit: 100

With Bitcoin you are your own bank, so for the very essential form of banking, it would be a little weird to hand the benefits that provide the blockchain technology to a third party just because you don't want to do such simple tasks as keeping your private key safe.

bravehearth0319

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Activity: 1022

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Quote from: Zadicar on December 22, 2016, 04:31:25 AM

Quote from: burner2014 on December 21, 2016, 08:50:37 AM

Quote from: Pattart on December 21, 2016, 03:54:39 AM

Quote from: BrockHunter on December 20, 2016, 12:47:03 PM

No I do not think that we need something like that because of the fact that its something that is not needed for us right now.

I agree with you, I think we do not really need a bitcoin bank dude, because in fact we still can easily store your bitcoin in a wallet and it's much safer than bank and without any control right ?

Correct. The possibility and most probably would happen if there is bitcoin bank will be tax implementation or the final tax that is imposed if you have savings account in a bank and I don't think that it is a good idea. But the good thing is many people will get interested in how bitcoin works.

I dont think people would really like to use bitcoin bank since there are wallets on the net its either on online or offline and putting bitcoin in bank will reveal your identity.Well for some it maybe okay for them since they somehow assure regarding on the security of their bitcoins.

You are right, people won't patronize it especially we bitcoin users will ignore it. It is very obvious that once there is a bitcoin bank this no difference with ordinary bank that are centralized and for bitcoin is decentralized.

prayogi

full member

Activity: 700

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Can it be built bitcoin bank in the country that bitcoin dub illegal business when I hope the government can accept bitcoin in their country, and even better if in the wake of the bank bitcoin I strongly agree that bitcoin bank in tires Huh

Babayega31

hero member

Activity: 630

Merit: 500

Cryptocurrency Wallet - Denaro.io

Quote from: ASHLIUSZ on March 09, 2017, 12:34:16 AM

Quote from: Viscore on March 08, 2017, 10:32:39 PM

Quote from: The_Dark_Knight on March 08, 2017, 08:07:41 PM

Quote from: deppil on March 05, 2017, 07:06:42 PM

Quote from: The_Dark_Knight on March 04, 2017, 10:27:28 PM

Quote from: Zaun on February 28, 2017, 06:03:46 PM

A bitcoin bank is not what we need. In think the current online wallets like blockchain.info and coindesk server this cause.
Bitcoin is meant to be decentralized, and so it should be.

In a way they are already bitcoin banks since they are storing a big amount of bitcoin that does not belong to them, the only thing they are lacking is offering interest rates for having your money there, but I have my doubts a bitcoin bank could offer such a thing.

blockchain not bitcoin bank. it's just a regular wallet and full control there in different users with bitcoin bank control is also owned by that bank?
excellence bitcoin bank only provides interest to customers

No, blockchain.info is not just a regular wallet, a regular wallet only holds the private keys of a single person, yourself, the centralized service of blockchain,info already holds the coins of many users, so in a way they are something close to a bitcoin bank already.

Bitcoin bank will not hold our private key but certainly our private information as well, it's easy to make a bitcoin wallet as it will not require you a lot of requirements like a documentation to prove you are that person. Bitcoin bank will surely imposed the kYC policy which we will need to follow in order to create an account and that is burdensome for the many, hence bitcoin wallet like blockchain will always be the demand.

If governments approve bitcoin banks to function all around, sure there will be certain terms and conditions to be followed. In such case surely users need to submit documents revealing our personal information as mentioned in the past quote. So it becomes a centralized system and in a short everything comes under their control.

That will be a nice future of bitcoin idea for banking if government will successfully approve that digital currency banking system. All the requirements for banking rules on accounts should be followed accordingly based on what is implemented by bank's management. On this vision of bitcoin banking, it would surely bring higher impact to digital currency reputation to became popular to all who wanted their btc holdings to became more secured; without cashing just for fiat bank savings.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: The_Dark_Knight on March 08, 2017, 08:07:41 PM

Quote from: deppil on March 05, 2017, 07:06:42 PM

Quote from: The_Dark_Knight on March 04, 2017, 10:27:28 PM

Quote from: Zaun on February 28, 2017, 06:03:46 PM

A bitcoin bank is not what we need. In think the current online wallets like blockchain.info and coindesk server this cause.
Bitcoin is meant to be decentralized, and so it should be.

In a way they are already bitcoin banks since they are storing a big amount of bitcoin that does not belong to them, the only thing they are lacking is offering interest rates for having your money there, but I have my doubts a bitcoin bank could offer such a thing.

blockchain not bitcoin bank. it's just a regular wallet and full control there in different users with bitcoin bank control is also owned by that bank?
excellence bitcoin bank only provides interest to customers

No, blockchain.info is not just a regular wallet, a regular wallet only holds the private keys of a single person, yourself, the centralized service of blockchain,info already holds the coins of many users, so in a way they are something close to a bitcoin bank already.

I don't think that we could even theoretically consider the Blockchain.info wallet as a bank

Regular web wallets (like Coinbase or Xapo) are likely the closest approximation to what a regular Bitcoin bank could be. The Blockchain.info wallet is a so-called hybrid wallet where you have the keys, not just the server. Essentially, it is a browser wallet which does everything for you at the server side which you access through your browser. They have the keys only as long as your session is active (at least, that's what we are told), but you could import the keys in a desktop wallet and use them privately. Obviously, this in no case can be construed as a Bitcoin bank simply because it is assumed that the bank would be controlling your money (by having your private keys)

ASHLIUSZ

hero member

Activity: 994

Merit: 502

Quote from: Viscore on March 08, 2017, 10:32:39 PM

Quote from: The_Dark_Knight on March 08, 2017, 08:07:41 PM

Quote from: deppil on March 05, 2017, 07:06:42 PM

Quote from: The_Dark_Knight on March 04, 2017, 10:27:28 PM

Quote from: Zaun on February 28, 2017, 06:03:46 PM

A bitcoin bank is not what we need. In think the current online wallets like blockchain.info and coindesk server this cause.
Bitcoin is meant to be decentralized, and so it should be.

In a way they are already bitcoin banks since they are storing a big amount of bitcoin that does not belong to them, the only thing they are lacking is offering interest rates for having your money there, but I have my doubts a bitcoin bank could offer such a thing.

blockchain not bitcoin bank. it's just a regular wallet and full control there in different users with bitcoin bank control is also owned by that bank?
excellence bitcoin bank only provides interest to customers

No, blockchain.info is not just a regular wallet, a regular wallet only holds the private keys of a single person, yourself, the centralized service of blockchain,info already holds the coins of many users, so in a way they are something close to a bitcoin bank already.

Bitcoin bank will not hold our private key but certainly our private information as well, it's easy to make a bitcoin wallet as it will not require you a lot of requirements like a documentation to prove you are that person. Bitcoin bank will surely imposed the kYC policy which we will need to follow in order to create an account and that is burdensome for the many, hence bitcoin wallet like blockchain will always be the demand.

If governments approve bitcoin banks to function all around, sure there will be certain terms and conditions to be followed. In such case surely users need to submit documents revealing our personal information as mentioned in the past quote. So it becomes a centralized system and in a short everything comes under their control.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: The_Dark_Knight on March 08, 2017, 08:07:41 PM

Quote from: deppil on March 05, 2017, 07:06:42 PM

Quote from: The_Dark_Knight on March 04, 2017, 10:27:28 PM

Quote from: Zaun on February 28, 2017, 06:03:46 PM

A bitcoin bank is not what we need. In think the current online wallets like blockchain.info and coindesk server this cause.
Bitcoin is meant to be decentralized, and so it should be.

In a way they are already bitcoin banks since they are storing a big amount of bitcoin that does not belong to them, the only thing they are lacking is offering interest rates for having your money there, but I have my doubts a bitcoin bank could offer such a thing.

blockchain not bitcoin bank. it's just a regular wallet and full control there in different users with bitcoin bank control is also owned by that bank?
excellence bitcoin bank only provides interest to customers

No, blockchain.info is not just a regular wallet, a regular wallet only holds the private keys of a single person, yourself, the centralized service of blockchain,info already holds the coins of many users, so in a way they are something close to a bitcoin bank already.

Bitcoin bank will not hold our private key but certainly our private information as well, it's easy to make a bitcoin wallet as it will not require you a lot of requirements like a documentation to prove you are that person. Bitcoin bank will surely imposed the kYC policy which we will need to follow in order to create an account and that is burdensome for the many, hence bitcoin wallet like blockchain will always be the demand.

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: deppil on March 05, 2017, 07:06:42 PM

Quote from: The_Dark_Knight on March 04, 2017, 10:27:28 PM

Quote from: Zaun on February 28, 2017, 06:03:46 PM

A bitcoin bank is not what we need. In think the current online wallets like blockchain.info and coindesk server this cause.
Bitcoin is meant to be decentralized, and so it should be.

In a way they are already bitcoin banks since they are storing a big amount of bitcoin that does not belong to them, the only thing they are lacking is offering interest rates for having your money there, but I have my doubts a bitcoin bank could offer such a thing.

blockchain not bitcoin bank. it's just a regular wallet and full control there in different users with bitcoin bank control is also owned by that bank?
excellence bitcoin bank only provides interest to customers

No, blockchain.info is not just a regular wallet, a regular wallet only holds the private keys of a single person, yourself, the centralized service of blockchain,info already holds the coins of many users, so in a way they are something close to a bitcoin bank already.

Fatanut

legendary

Activity: 1008

Merit: 1060

Quote from: Blitzboy on March 05, 2017, 10:41:14 AM

Quote from: Finestream on March 05, 2017, 06:48:39 AM

Quote from: Nekutasa on March 04, 2017, 10:55:55 PM

I dont agree but i also dont think that it's a terrible idea!

I think that it could be a good idea depends on who you ask. Personally though i think that it could be beneficial.

There's only one way to find if it's beneficial to us, if bitcoin bank will progress and people will support it. For me, I'm already satisfied with exchange sites where I put my bitcoin and online wallet, banks will do the same and they are more strict to verify every transactions we will make if it's in compliance with the law's and regulations. I don't like too much of that because I want to experience full freedom with using bitcoin which is the main reason why it's created.

I do agree so. Banks will never be suitable for Bitcoin since both of them are different. One is decentralized and the other is centralized. There will be many restrictions existing if banks accept Bitcoin. However, bank adoption is the only way for Bitcoin to become popular in a short time. People will understand more about bitcoin if banks accept it soon

We don't need that, though. Anyone who's in a hurry for mass adoption can leave now because it's not happening soon. ETF approval might shorten the process but it's still a long journey. I'm also thinking that if banks have adopted bitcoins, it's because the majority of people are already using bitcoins. The mass adoption has already happened or already happening. The government has only two choices, they either try their best to get rid of bitcoins (hard way) or just adopt to bitcoins (easy way).

makeinst

newbie

Activity: 3

Merit: 0

I am new on the forum, and I just register at the one BTC bank from Bitcointalk.

Topic: - page 53. (Read 142355 times)