[2017-02-11] World’s First Dedicated Bitcoin Bank Opens In Vienna

CryptoDatabase

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Quote from: BurtW on February 13, 2017, 03:20:25 PM

Hopefully we can get back on topic for this thread. Here is what I posted in another "Bitcoin Banking" thread:

Quote from: BurtW on November 08, 2016, 09:11:13 AM

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You have just accepted an IOU from the bank which states you "have" that many Bitcoins on account at the bank.

You can now write checks on that amount which other people can accept as payment. Is a Bitcoin check in the amount of 1.2345 BTC to someone actually Bitcoins? The answer is no it is not. It is a promise to pay the bearer Bitcoins. You have just recreated the use and acceptance of debt as money.

Not only that you have just lent your Bitcoins to an entity (bank) whose entire purpose is to lend out your Bitcoins to someone else and make a profit. Their entire purpose is to recreate the fractional reserve banking system. Their entire purpose is to gamble with the Bitcoins you just lent them. They have no choice. It is their business model.

The second people start lending their Bitcoins to banks they have recreated the fractional reserve banking system.

The answer from anyone who really understands Bitcoins, loves Bitcoins, what they represent, why they exist, should not simply be "no I will not lend my Bitcoins to a bank in order to reproduce the fractional reserve banking system". It should be:

Quote

There is no fucking way I will lend my Bitcoins to the fucking banking system so they can use my Bitcoins to recreate their fucking house of cards Ponzi scheme fractional reserve banking system.

Having said all that, it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins. This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves - and most people are sheep being lead to the slaughter.

The difference with Bitcoin is that you can choose not to participate in their scheme to screw you out of your hard earned money.

I wasn't trying to be a dick or anything, just trying to help. I actually read that post when you made it and I can completely agree with it.

Trying to model BTC after the banks will just create the same exact problem we have now, it will just be more secure for the banks as you wouldn't be able to just walk into one and demand BTC.

BurtW

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Hopefully we can get back on topic for this thread. Here is what I posted in another "Bitcoin Banking" thread:

Quote from: BurtW on November 08, 2016, 09:11:13 AM

If you deposit your hard earned Bitcoins into a Bank you have lent your Bitcoins to a third party.

You have just accepted an IOU from the bank which states you "have" that many Bitcoins on account at the bank.

You can now write checks on that amount which other people can accept as payment. Is a Bitcoin check in the amount of 1.2345 BTC to someone actually Bitcoins? The answer is no it is not. It is a promise to pay the bearer Bitcoins. You have just recreated the use and acceptance of debt as money.

Not only that you have just lent your Bitcoins to an entity (bank) whose entire purpose is to lend out your Bitcoins to someone else and make a profit. Their entire purpose is to recreate the fractional reserve banking system. Their entire purpose is to gamble with the Bitcoins you just lent them. They have no choice. It is their business model.

The second people start lending their Bitcoins to banks they have recreated the fractional reserve banking system.

The answer from anyone who really understands Bitcoins, loves Bitcoins, what they represent, why they exist, should not simply be "no I will not lend my Bitcoins to a bank in order to reproduce the fractional reserve banking system". It should be:

Quote

There is no fucking way I will lend my Bitcoins to the fucking banking system so they can use my Bitcoins to recreate their fucking house of cards Ponzi scheme fractional reserve banking system.

Having said all that, it is inevitable that Bitcoin substitutes (bitcoin IOUs) will eventually be used for and accepted as payment and that the banking system will recreate a fractional reserve banking system using Bitcoins. This is because most people do not understand the first thing about money, what it is, where it comes from and what purpose it serves - and most people are sheep being lead to the slaughter.

The difference with Bitcoin is that you can choose not to participate in their scheme to screw you out of your hard earned money.

BurtW

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Quote from: CryptoDatabase on February 13, 2017, 01:51:01 PM

I get it perfectly, comprehension is one of my strong suits.

What you don't get is your post is not structured as a joke and you simply stated that it must be great if they agree on it. That is not how a joke is structured. This, however, is: Blah and Blah finally agree on something, the worlds going to end! Not, "they agree so it must be great'

You did not make an informed opinion, you said it must be great.

Evidently the feedback is that the post did not say what I meant it so say so I deleted the damn thing. For the love of all that is Bitcoin can we move on?

CryptoDatabase

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Quote from: BurtW on February 13, 2017, 01:17:15 PM

Quote from: CryptoDatabase on February 13, 2017, 01:14:20 PM

Quote from: BurtW on February 13, 2017, 12:56:59 PM

Quote from: CryptoDatabase on February 13, 2017, 12:47:41 PM

Quote from: BurtW on February 13, 2017, 12:29:57 PM

If you are asking "Why did you download BU?". The answer is RESEARCH.

No, you downloaded it because you think anything they agree on is great. Don't try to come up with ulterior motives now, it is too late.

What has your research shown you?

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

Still have not found how I can set my block size limit, it is a command line parameter or do I have to rebuild?

If your intent was to download for research then that would have been what you did instead of downloading it and instantly saying it must be great.

So all this rage and emotion directed toward me is because of a one sentence off hand joke I made on this forum? I am sorry I offended you with that one sentence. I take it back. I will go and delete it if that will make you feel better. I guess you cannot take a joke. The intended joke was that those two agree on something, anything. Obviously you have a history with those two that I am unaware of. Sure, I know you are on opposite sides of a debate but no, I don't read everything you, franky1 or jbreher have written. Just chill. I am not on your side and I am not on their side. Go argue between yourselves some more and leave me out of it.

I don't know you or them nor do I really care. I'm just simply pointing out the fact that you are contradicting yourself and it doesn't look good. So now were at it being a joke when it is supposed to be for research.

Again, the JOKE is that franky1 and jbreher found something to agree on. My RESEARCH, in order to form an informed option on the subject, is on BU, Segwit, and the block size debate in general. Get it now?

I get it perfectly, comprehension is one of my strong suits.

What you don't get is your post is not structured as a joke and you simply stated that it must be great if they agree on it. That is not how a joke is structured. This, however, is: Blah and Blah finally agree on something, the worlds going to end! Not, "they agree so it must be great'

You did not make an informed opinion, you said it must be great.

BurtW

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Quote from: CryptoDatabase on February 13, 2017, 01:14:20 PM

Quote from: BurtW on February 13, 2017, 12:56:59 PM

Quote from: CryptoDatabase on February 13, 2017, 12:47:41 PM

Quote from: BurtW on February 13, 2017, 12:29:57 PM

If you are asking "Why did you download BU?". The answer is RESEARCH.

No, you downloaded it because you think anything they agree on is great. Don't try to come up with ulterior motives now, it is too late.

What has your research shown you?

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

Still have not found how I can set my block size limit, it is a command line parameter or do I have to rebuild?

If your intent was to download for research then that would have been what you did instead of downloading it and instantly saying it must be great.

So all this rage and emotion directed toward me is because of a one sentence off hand joke I made on this forum? I am sorry I offended you with that one sentence. I take it back. I will go and delete it if that will make you feel better. I guess you cannot take a joke. The intended joke was that those two agree on something, anything. Obviously you have a history with those two that I am unaware of. Sure, I know you are on opposite sides of a debate but no, I don't read everything you, franky1 or jbreher have written. Just chill. I am not on your side and I am not on their side. Go argue between yourselves some more and leave me out of it.

I don't know you or them nor do I really care. I'm just simply pointing out the fact that you are contradicting yourself and it doesn't look good. So now were at it being a joke when it is supposed to be for research.

Again, the JOKE is that franky1 and jbreher found something to agree on. My RESEARCH, in order to form an informed option on the subject, is on BU, Segwit, and the block size debate in general. Get it now?

CryptoDatabase

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Quote from: BurtW on February 13, 2017, 12:56:59 PM

Quote from: CryptoDatabase on February 13, 2017, 12:47:41 PM

Quote from: BurtW on February 13, 2017, 12:29:57 PM

If you are asking "Why did you download BU?". The answer is RESEARCH.

No, you downloaded it because you think anything they agree on is great. Don't try to come up with ulterior motives now, it is too late.

What has your research shown you?

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

Still have not found how I can set my block size limit, it is a command line parameter or do I have to rebuild?

If your intent was to download for research then that would have been what you did instead of downloading it and instantly saying it must be great.

So all this rage and emotion directed toward me is because of a one sentence off hand joke I made on this forum? I am sorry I offended you with that one sentence. I take it back. I will go and delete it if that will make you feel better. I guess you cannot take a joke. The intended joke was that those two agree on something, anything. Obviously you have a history with those two that I am unaware of. Sure, I know you are on opposite sides of a debate but no, I don't read everything you, franky1 or jbreher have written. Just chill. I am not on your side and I am not on their side. Go argue between yourselves some more and leave me out of it.

I don't know you or them nor do I really care. I'm just simply pointing out the fact that you are contradicting yourself and it doesn't look good. So now were at it being a joke when it is supposed to be for research.

BurtW

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Quote from: TraderTimm on February 13, 2017, 12:38:25 PM

Quote from: Carlton Banks on February 12, 2017, 05:37:39 AM

Quote from: BurtW on February 11, 2017, 06:00:56 PM

Bitcoin Bank?

Oxymoron.

You're in a strange position to be calling out Bitcoin's antitheses.

How about this one, oxymoron: Bitcoin with user changeable consensus rules

I wonder how long before a crypto-communist fork starts redistributing your money and inflating the money supply?

You're not a Bitcoin supporter, so don't stand up up for people who can stand up for themselves just fine without you, Burt

Where the hell did this Burt dude come from?

Maybe I've been avoiding the LaBrae Tarpits of the common forums here too much - I have no idea who this guy is, but first impressions aren't favorable.

I would love to debate the whole Bitcoin "banking" issues which is what this thread was originally all about. I do have a strong opinion on that issue. Unfortunately, this thread has deteriorated into a bashing attack on me for a stupid joke I made in another thread on an unrelated subject I do not have any opinion about yet - I am just starting to research it in order to form an opinion. I will dig up a response to this thread when I get a chance.

BurtW

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Quote from: CryptoDatabase on February 13, 2017, 12:47:41 PM

Quote from: BurtW on February 13, 2017, 12:29:57 PM

If you are asking "Why did you download BU?". The answer is RESEARCH.

No, you downloaded it because you think anything they agree on is great. Don't try to come up with ulterior motives now, it is too late.

What has your research shown you?

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

Still have not found how I can set my block size limit, it is a command line parameter or do I have to rebuild?

If your intent was to download for research then that would have been what you did instead of downloading it and instantly saying it must be great.

So all this rage and emotion directed toward me is because of a one sentence off hand joke I made on this forum? I am sorry I offended you with that one sentence. I take it back. I will go and delete it if that will make you feel better. I guess you cannot take a joke. The intended joke was that those two agree on something, anything. Obviously you have a history with those two that I am unaware of. Sure, I know you are on opposite sides of a debate but no, I don't read everything you, Carlton Banks, franky1 or jbreher have written. Just chill. I am not on your side and I am not on their side. Go argue between yourselves some more and leave me out of it.

CryptoDatabase

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Quote from: BurtW on February 13, 2017, 12:29:57 PM

If you are asking "Why did you download BU?". The answer is RESEARCH.

No, you downloaded it because you think anything they agree on is great. Don't try to come up with ulterior motives now, it is too late.

What has your research shown you?

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

Still have not found how I can set my block size limit, it is a command line parameter or do I have to rebuild?

If your intent was to download for research then that would have been what you did instead of downloading it and instantly saying it must be great.

Real researchers head into a new project with an open and clear mind, they don't go in with a biased opinion and start stating stuff that they don't know anything about.

TraderTimm

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Quote from: Carlton Banks on February 12, 2017, 05:37:39 AM

Quote from: BurtW on February 11, 2017, 06:00:56 PM

Bitcoin Bank?

Oxymoron.

You're in a strange position to be calling out Bitcoin's antitheses.

How about this one, oxymoron: Bitcoin with user changeable consensus rules

I wonder how long before a crypto-communist fork starts redistributing your money and inflating the money supply?

You're not a Bitcoin supporter, so don't stand up up for people who can stand up for themselves just fine without you, Burt

Where the hell did this Burt dude come from?

Maybe I've been avoiding the LaBrae Tarpits of the common forums here too much - I have no idea who this guy is, but first impressions aren't favorable.

BurtW

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Quote from: Carlton Banks on February 13, 2017, 12:12:11 PM

Quote from: BurtW on February 13, 2017, 10:36:01 AM

Dude, I give up, you are right. Is that better?

You're a coward as well as a fool. Can't handle answering awkward questions, huh?

I am RESEARCHING this whole block size debate/question. I downloaded the BU node to RESEARCH it. What is your question? If your question is "Do I endorse BU?" The answer is no. If your question is "Do I endorse Segwit?" the answer is no. If you are asking "Why did you download BU?". The answer is RESEARCH. If you are asking "Do you like Carlton Bank's personal attacks on BurtW simply for researching an issue?" the answer is no. If your question is "Do you like being called stupid, an idiot, a coward and a fool?" my answer is no. If your question is "By calling you stupid, an idiot, a coward and a fool am I convincing you that one solution is better than another?" the answer is no you are not.

I have no idea what the hell you are talking about. If one of these guesses is not the question you are asking me then what specific awkward question do you want me to answer?

Carlton Banks

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Quote from: BurtW on February 13, 2017, 10:36:01 AM

Dude, I give up, you are right. Is that better?

You're a coward as well as a fool. Can't handle answering awkward questions, huh?

CryptoDatabase

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Quote from: wpd on February 13, 2017, 09:57:53 AM

Quote from: CryptoDatabase on February 11, 2017, 08:43:37 AM

A dedicated Bitcoin bank is hilarious. I have 3 dedicated Bitcoin banks sitting in my living room called wallets.

A more appropriate term would be dedicated Bitcoin exchange.

Yeah, the only difference is that the "bank" is for many people.

You mean like a web wallet such as blockchain.info where many people store their coins? The only difference I see is you don't know what a bank is and are confusing it with an exchange.

Did you even read the article? They are not a bank.

BurtW

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Quote from: Carlton Banks on February 13, 2017, 09:45:59 AM

Quote from: BurtW on February 13, 2017, 09:36:20 AM

Research does not equal endorsement.

Calling someone an idiot does not further your cause.

Endorsement does equal endorsement:

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

And you're endorsing the top trolls on the forum, replete with their carefully crafted lies.

Lie to us Burt, tell us that Franky and jbreher don't constantly use dishonest tactics, or contradict their previous arguments with whatever is currently most convenient, or outright abandon old FUD that didn't stick?

The fact that you've not noticed this pattern of behaviour while reading their nonsense kind of suggests a different motive for your sudden apparent foolishness, does it not?

Dude, I give up, you are right. Is that better?

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Quote from: CryptoDatabase on February 11, 2017, 08:43:37 AM

A dedicated Bitcoin bank is hilarious. I have 3 dedicated Bitcoin banks sitting in my living room called wallets.

A more appropriate term would be dedicated Bitcoin exchange.

Yeah, the only difference is that the "bank" is for many people.

Carlton Banks

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Quote from: BurtW on February 13, 2017, 09:36:20 AM

Research does not equal endorsement.

Calling someone an idiot does not further your cause.

Endorsement does equal endorsement:

Quote from: BurtW on February 11, 2017, 11:17:54 AM

I downloaded and started running BU this morning.

Anything that both jbreher and franky1 can agree to must be a great idea.

And you're endorsing the top trolls on the forum, replete with their carefully crafted lies.

Lie to us Burt, tell us that Franky and jbreher don't constantly use dishonest tactics, or contradict their previous arguments with whatever is currently most convenient, or outright abandon old FUD that didn't stick?

The fact that you've not noticed this pattern of behaviour while reading their nonsense kind of suggests a different motive for your sudden apparent foolishness, does it not?

BurtW

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Research does not equal endorsement.

Calling someone an idiot does not further your cause.

Any modification or even proposed modification to the protocol is a charged issue and you are obviously very passionate about your position.

I am passionately against Bitcoin "banks" even though they are inevitable, which is what this specific thread is all about.

Carlton Banks

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Quote from: BurtW on February 13, 2017, 08:36:19 AM

Since when does researching a subject with an open mind equal support? All I see is highly emotional name calling and banter on all sides including this from you. I participate in both BU an segwit threads and have not made up my mind.

"Research" and "endorsing major trolls" are not the same thing, Burt. The idea that you've actually read the output of jbreher and franky1 and concluded that they aren't constantly subverting logic to prosecute their agenda is a total joke, no-one is actually that stupid.

Maybe I lose patience in arguments (and what a big surprise that is when there's never an honestly made point coming my way), but you simply cannot accuse me of making dishonest arguments, and yet that's what the only angle these apparent "thought" heroes of yours have got. Their constant poor faith is written in English Burt, in black and fucking white. Anyone can see it, except apparently you

So excuse me if I call you out for taking an idiotic stance with the value of my BTC investment, you idiot

BurtW

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Quote from: Carlton Banks on February 13, 2017, 03:31:23 AM

Quote from: Gleb Gamow on February 13, 2017, 01:42:44 AM

Quote from: Carlton Banks on February 12, 2017, 05:37:39 AM

Quote from: BurtW on February 11, 2017, 06:00:56 PM

Bitcoin Bank?

Oxymoron.

You're in a strange position to be calling out Bitcoin's antitheses.

How about this one, oxymoron: Bitcoin with user changeable consensus rules

I wonder how long before a crypto-communist fork starts redistributing your money and inflating the money supply?

You're not a Bitcoin supporter, so don't stand up up for people who can stand up for themselves just fine without you, Burt

With all due respect, Carlton ...

And? S

Burt's still supporting something that is dangerously adverse to Bitcoin's principles. I don't care about other mistakes he's made in the past that only affected him. Anyone who donated Burt money in the past should be feeling like total idiots.

Since when does researching a subject with an open mind equal support? All I see is highly emotional name calling and banter on all sides including this from you. I participate in both BU an segwit threads and have not made up my mind.

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Quote from: tyz on February 11, 2017, 08:41:25 AM

World’s First Dedicated Bitcoin Bank Opens In Vienna

A dedicated bitcoin bank, possibly the world’s first, has opened on Mariahilfer Strasse in downtown Vienna, Austria, according to The Local, an English-language Austrian news site. The bank is owned by a Berlin-based blockchain startup, Bit Trust Services, and it is named Bitcoin-Bank. The bank is designed to make buying and selling bitcoin easier and safer than other in-person options.

https://www.cryptocoinsnews.com/worlds-first-dedicated-bitcoin-bank-opens-in-vienna/

Vienna is a great city for Bitcoin. According to the article Vienna now has more than 20 bitcoin-friendly merchants ranging from restaurants, bistros and bars. I'm wondering how much their bitcoin ATMs charge though. Usually, in other places, they charge too much to use them on a regular basis.

Topic: [2017-02-11] World’s First Dedicated Bitcoin Bank Opens In Vienna (Read 1144 times)