Bitcoin Bank??? - page 38. | Bitcointalksearch.org

Raimonn

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Quote from: Tatalk on January 24, 2016, 04:11:15 PM

Quote from: watashi-kokoto on January 22, 2016, 11:58:32 AM

Bitcoin is bank. A large worldwide bank. You save by buying or mining BTC, and spend by selling BTC.

How do you borrow? I think you still need a bank to deal with (bitcoin) bank to get mortgage.

If you need to borrow bitcoins, there are companies that help users to lend and borrow bitcoins (like btcjam ). Banks don't use bitcoins so they will not lend you bitcoins.

Yakamoto

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Quote from: Tatalk on January 24, 2016, 04:11:15 PM

Quote from: watashi-kokoto on January 22, 2016, 11:58:32 AM

Bitcoin is bank. A large worldwide bank. You save by buying or mining BTC, and spend by selling BTC.

How do you borrow? I think you still need a bank to deal with (bitcoin) bank to get mortgage.

I think the concept he's trying to describe is that there is no-one needed to protect your Bitcoin, and the blockchain and yourself is all the security you need, unless you are really bad with computers.

Having an actual bank that you can borrow from opens the doors for fractional reserve lending, which is a major issue because Bitcoin is built on the concept that there is a limited amount. Banks being able to "create" more would be hugely detrimental for Bitcoin's image.

Tatalk

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Quote from: watashi-kokoto on January 22, 2016, 11:58:32 AM

Bitcoin is bank. A large worldwide bank. You save by buying or mining BTC, and spend by selling BTC.

How do you borrow? I think you still need a bank to deal with (bitcoin) bank to get mortgage.

BellaBitBit

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Quote from: michietn94 on December 03, 2015, 10:23:42 PM

IS there any Bitcoin Bank that really works like bank that provide interest for customer that available in this world?

Why would you want that? If you want interest from a bank just go to a bank. "Bitcoin" and "Bank" should not go in the same sentence, Bitcoin was created to move the world away from banks

watashi-kokoto

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I think if you need money simply borrow from normal bank or a friend. I think large scale loans are scam and one of the reasons why the worldwide system keeps crashing every 7 years.

xdrpx

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Well when you use Bitcoin you are your own bank. You can transact with anyone and anywhere, simply put it's netbanking in a decentralized fashion. But, if you're talking about a Bitcoin bank with a saving scheme and earning interest out of them, then you might want to check out BSave which recently was in the news about 1-2 days ago with a similar kind of scheme, but the legitimacy still has to be guaranteed and insured.

watashi-kokoto

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Quote from: Gasturcas on January 22, 2016, 11:21:17 AM

We need "banks" to do business in bitcoin. We can save money with the bank, and we can also borrow money if we need.

Bitcoin is bank. A large worldwide bank. You save by buying or mining BTC, and spend by selling BTC.

Gasturcas

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Quote from: Abiky on January 09, 2016, 01:49:31 PM

Quote from: HarHarHar9965 on December 10, 2015, 01:21:58 AM

Quote from: Wei H on December 03, 2015, 11:15:50 PM

Bank again? Just like the regular currencies need a bank? If we need bank than why we create Bitcoin?

Yup right. Why we need bank. Its a digital money We no need to manage any other organization. We can manage our wallet and Its better than bank You can see the transparent more than bank.

I was thinking the same way, in fact I thought that instead of having a Bitcoin bank in the future, there could be a place full of Bitcoin nodes (similar like a data center) which could server its purpose to maintain the blockchain. This would probably be called a Bitcoin Center instead. Grin

We need "banks" to do business in bitcoin. We can save money with the bank, and we can also borrow money if we need.

Abiky

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Quote from: HarHarHar9965 on December 10, 2015, 01:21:58 AM

Quote from: Wei H on December 03, 2015, 11:15:50 PM

Bank again? Just like the regular currencies need a bank? If we need bank than why we create Bitcoin?

Yup right. Why we need bank. Its a digital money We no need to manage any other organization. We can manage our wallet and Its better than bank You can see the transparent more than bank.

I was thinking the same way, in fact I thought that instead of having a Bitcoin bank in the future, there could be a place full of Bitcoin nodes (similar like a data center) which could server its purpose to maintain the blockchain. This would probably be called a Bitcoin Center instead. Grin

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Quote from: hv_ on January 09, 2016, 01:24:28 PM

Quote from: LiteCoinGuy on December 11, 2015, 12:11:18 PM

This is what I saw today on login page of Privatbank, Ukraine's biggest bank.

http://www.newsbtc.com/2015/12/06/ukraines-privatbank-includes-bitcoin-support-for-e-commerce-merchants/

Those guys also have a banking license and run some ATMs

https://www.bitcoinsuisse.ch/en/buy-sell-bitcoin/

You like Bitcoin ? donate to 1goodNKPaV2ZZv4x4JejtMZppqzjjLWSe

Not - then you can get rid of here: 1badzwnRt6eUFsg1NircdKGfWZHxeps6M

hv_

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Quote from: LiteCoinGuy on December 11, 2015, 12:11:18 PM

This is what I saw today on login page of Privatbank, Ukraine's biggest bank.

http://www.newsbtc.com/2015/12/06/ukraines-privatbank-includes-bitcoin-support-for-e-commerce-merchants/

Gasturcas

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Quote from: Abiky on December 11, 2015, 04:38:50 PM

I think such Bitcoin bank would be Xapo. You can safely store BTC on your Xapo wallet with bank level security. They store BTC on cold storage plus your Bitcoins are insured, so in case something happens you could claim back your BTC. Grin

What is the cost of saving your coins in Xapo? What is the revenue for Xapo and other online wallets?

bitart

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Maybe people doesn't really look for a bitcoin bank for just itself and for the banking services but only looking for a safe way to grow their savings like in real life which is a bank that accepts deposits and gives a little interest on the deposited amount.
Maybe people who have bitcoin in their wallet just think that their bitcoins should grow like real life fiat savings.
But real life money should grow because of inflation and bitcoin has no inflation, so practically there is no need for a bitcoin bank for this purpose, it's only that people used to put their savings in banks in real lifecand they're trying to find this in the bitcoin ecosystem too.

hunnaryb

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Recent DB research has shown that Bitcoin isn't as decentralised as people assume.

Standard Bitcoin user doesn't care about decentralisation at the end of the day.

Point is, bitcoin allows you to not require a bank, the fact that traditional banks can offer you interest is only due to the inherent risk that you MAY forfeit your funds in the event that the bank collapses. Sure, governments step in to save some of your money, but the idea is that they take your money and lend it out to make more money, and pay you a small portion.

Now, if you were just interested in growing your BTC, and didn't care about the price at all, then I would see some merit in depositing into somewhere like Haobtc where you could make up to 10% interest. However, the extra bitcoins you make probably couldn't cover the fact that you could make more just by buying and selling bitcoin at the right times.

Abiky

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I think such Bitcoin bank would be Xapo. You can safely store BTC on your Xapo wallet with bank level security. They store BTC on cold storage plus your Bitcoins are insured, so in case something happens you could claim back your BTC. Grin

Sir_lagsalot

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I don't think there is. There really should be though, maybe a bank that works with an exchange, so it converts all your incoming funds into bitcoin. Would be much more profitable. Way better "interest rates".

Does anyone know if a company has started trying to work on one of these projects? I'd love to convert my savings into bitcoin.

knowhow

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The thing is related to generate interest the same way as fiat banks does nowadays,bitcoin todays is the best way to protect and give our money the real value that banks keep for them.

xmax

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I agree that a bitcoin bank defeats the purpose of Bitcoin. There needs to be some general locations where people can exchange other forms of currency into Bitcoin, but there is no need for the traditional banking locations.

LiteCoinGuy

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This is what I saw today on login page of Privatbank, Ukraine's biggest bank.

avw1982

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Quote from: faridkifly on December 10, 2015, 06:38:44 AM

i dont think bitcoin bank is exist.
but there will probably be bitcoin bank in the future. in other words, your wallet is your bank Tongue

Lol. We guys know Wallet is work like a bank account. and Already Bitcoin Debit card in European countries in middle east. I think We can expect bank also from coinbase or blockchain. then as people thought Bitcoin will reach to all the common people. Price will also increase to huge amount.

Topic: Bitcoin Bank??? - page 38. (Read 45646 times)