Bank of Bitcoin - page 2. | Bitcointalksearch.org

ashour

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Quote from: HarHarHar9965 on August 25, 2015, 01:00:48 AM

Quote from: SimpleIn on August 24, 2015, 01:35:10 PM

It is a good idea. This will improve the safety of Bitcoin. And expand many features.

such as? Questionable anonymity, going against its major feature of being your own bank, letting third party handle your transactions, give out your btc to others in order to lend btc and make more btc in return, it will all how the financial institutions are right now: Broken. We all rant about how bitcoin could fix the problems fiat endure, then why try to make it just like fiat?

I agree, we should't try to make bitcoin a fiat alternative. Bitcoin is a total different protocol than fiat money, what bitcoin needs now is mass adoption which can be archived with innovation and "killer-apps".

flock123

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I never know if bitcoin bank was there, but it would probably be better if the bitcoin bank actually exists

HarHarHar9965

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Quote from: SimpleIn on August 24, 2015, 01:35:10 PM

It is a good idea. This will improve the safety of Bitcoin. And expand many features.

such as? Questionable anonymity, going against its major feature of being your own bank, letting third party handle your transactions, give out your btc to others in order to lend btc and make more btc in return, it will all how the financial institutions are right now: Broken. We all rant about how bitcoin could fix the problems fiat endure, then why try to make it just like fiat?

SimpleIn

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It is a good idea. This will improve the safety of Bitcoin. And expand many features.

ashour

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I don't think that it would be easy to build something like a bitcoin bank since the are still many regulations. It will probably be possible in the future were the laws will hopefully be more bitcoin friendly.

Digit-0

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in the end, you only find the beginning

Quote from: wxa7115 on August 24, 2015, 03:18:45 AM

While a bitcoin bank could help adoption, my opinion is that this runs contrary to the paradigm of bitcoin of being your own bank.

exactly this, well sayd man.

if this finally happened, i mean that someone start to offer that service, i think that i will never use it and i will never recommend to use it to anybody, people should realize whats the spirit of bitcoin and take care about it a little bit more, if not, then the bitcoin sense will fail.

tyrexs

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not all country have bank of bitcoin maybe only some country have bank of bitcoin because bitcoin still not accept as a currency. we still need more time to have bank of bitcoin in all country

wxa7115

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Bitcoin is GOD

While a bitcoin bank could help adoption, my opinion is that this runs contrary to the paradigm of bitcoin of being your own bank.

bimasena25

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https://bitcointester.com/

banking credit system that operates with bitcoin would
cast doubt on the verification of borrowers. bitcoin
wallet would not be anonymous?

HarHarHar9965

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Quote from: Nizam ibrahim.P.N on August 22, 2015, 08:14:28 AM

Bank of Bitcoins is not available in our country Angry

When bitcoin is giving you the power to be your own financial bank, you do not need any third party bank for their services, enjoy bitcoins the way you deserve to Cheesy

Nizam ibrahim.P.N

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Bank of Bitcoins is not available in our country Angry

Amph

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Quote from: nicole7852 on June 30, 2015, 10:51:05 AM

Quote from: Amph on June 29, 2015, 09:16:46 AM

Quote from: b-trading on June 29, 2015, 04:55:24 AM

Quote from: Amph on June 29, 2015, 04:37:57 AM

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

maybe we can think that it is not interesting for us, but i could see a good spot for those banks, to boost bitcoin adoption, because there are many people that feel unsecure when they hold their bitcoin

this is why you see many using online wallet or centralized wallet in general, they don't want to handle their security, in this sense those banks might help them and bring more trust and confidence to bitcoin than any other thing

But the problems are that they are handling over their bitcoin to other parties and lose control to it. Is so called bitcoin banks legit or what is the level of the security? No one can specify them! Hacks or scams are always around! it is not really safe! The users may lose their money one day!

nothing is 100% secure, besides vernam cipher, but if those bank will be regulated like common banks, they you can rest assured that your money will have a high security, on par with your current fiat bank account

Possum577

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Loose lips sink sigs!

Coinbase could easily be the leader in lending if they wanted to expand their banking operation beyond deposits. Lending in bitcoin is risky. The price is volatile and the inherent anonymity of the payment and ownership system could make it difficult to prove that one person ever received a loan and is therefore required/obligated to pay it back. The fact that many countries don't fully acknowledge bitcoin as a currency could hurt the company's chances of getting money back when someone bails on their loan.

There's so much risk involved and risk increases the interest rates, which makes it harder for people to payback a loan (or even want one beyond what's available in the fiat based traditional banking market.)

I think bitcoin-centric insurance needs to come first, then lending can follow.

nicole7852

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Quote from: Amph on June 29, 2015, 09:16:46 AM

Quote from: b-trading on June 29, 2015, 04:55:24 AM

Quote from: Amph on June 29, 2015, 04:37:57 AM

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

maybe we can think that it is not interesting for us, but i could see a good spot for those banks, to boost bitcoin adoption, because there are many people that feel unsecure when they hold their bitcoin

this is why you see many using online wallet or centralized wallet in general, they don't want to handle their security, in this sense those banks might help them and bring more trust and confidence to bitcoin than any other thing

But the problems are that they are handling over their bitcoin to other parties and lose control to it. Is so called bitcoin banks legit or what is the level of the security? No one can specify them! Hacks or scams are always around! it is not really safe! The users may lose their money one day!

b-trading

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Activity: 434

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Quote from: Amph on June 29, 2015, 09:16:46 AM

Quote from: b-trading on June 29, 2015, 04:55:24 AM

Quote from: Amph on June 29, 2015, 04:37:57 AM

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

maybe we can think that it is not interesting for us, but i could see a good spot for those banks, to boost bitcoin adoption, because there are many people that feel unsecure when they hold their bitcoin

this is why you see many using online wallet or centralized wallet in general, they don't want to handle their security, in this sense those banks might help them and bring more trust and confidence to bitcoin than any other thing

I agree with you and the security for holding bitcoin personally is one of the many reason that can be the opportunity to bitcoin bank...and it is mean if i hold my bitcoi. in my wallet on my hardisk and then suddenly something wrong happen causes we lost our bitcoin and nothing to do ..but if we save our bitcoin to the bitcoin bank and if something happen to bitcoin wellet on the bank...and if this bappen we can claim our bitcoin to the bitcoin bank

Amph

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Quote from: b-trading on June 29, 2015, 04:55:24 AM

Quote from: Amph on June 29, 2015, 04:37:57 AM

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

maybe we can think that it is not interesting for us, but i could see a good spot for those banks, to boost bitcoin adoption, because there are many people that feel unsecure when they hold their bitcoin

this is why you see many using online wallet or centralized wallet in general, they don't want to handle their security, in this sense those banks might help them and bring more trust and confidence to bitcoin than any other thing

dblink

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Activity: 252

Merit: 250

Quote from: b-trading on June 29, 2015, 04:55:24 AM

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

The main purpose of the Bitcoin Digital currency is to avoid the current conventional banking systems, Bank operating now a days all over the world in not an open accounting system where as Bitcoin Digital currency is, and it is purely based on peer to peer networking system and there is no central authority.

b-trading

sr. member

Activity: 434

Merit: 250

Quote from: Amph on June 29, 2015, 04:37:57 AM

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

I have read the article from the link...and i think it seem that bulid a bitcoin bank such a something not interesting...though the opportunity is very big...imagine that if the bitcoin bank can operate like a conventional it can be operating globally because of the bitcoin factor

Amph

legendary

Activity: 3248

Merit: 1070

as a far as i know only in swizerland, they are starting a project regarding this

http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

b-trading

sr. member

Activity: 434

Merit: 250

Lending bussiness is something a very potential in the bitcoin world...we know tbat there are many websites which give us a loan in any value i.e btcjam, bitlendingclub...but the problem is when we want to get the loan from those sites...the loan have to bu fulled by the other member there as an investors and if there is no investor that can fulled our loan its mean we can't get the loan...
it can be different where there is a company that operated like the "Bank" system they supply the neccesary of the loan from thw customers with their own money...
my question is there any bitcoin startup which operated like a conventional bank for bitcoin ecosystem

Topic: Bank of Bitcoin - page 2. (Read 2332 times)