Bitcoin Bank??? - page 41. | Bitcointalksearch.org

Bitcoinpro

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Quote from: vilain on December 05, 2015, 08:34:19 PM

LOL

bitcoin and bank are not words that go along in the same sentence.

The decentralization is it's main feature, wouldn't make any sense a bank that would get power and jeopardize the coin market freedom.

they do if its crypto and bank

oblomov

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Quote from: vilain on December 05, 2015, 08:34:19 PM

LOL

bitcoin and bank are not words that go along in the same sentence.

The decentralization is it's main feature, wouldn't make any sense a bank that would get power and jeopardize the coin market freedom.

Having private banks is not a contradiction to decentralization.

BTC holders would not have to use a bank, and would not be subject to the whim of a central (government) bank.

Most people with assets are too busy to worry about the minutiae of earning interest or trading revenue from their assets.

They are happy to get a somewhat lower return for someone else to do the work.

gurre

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actually bitcoin is not the change if you don`t work for it. At the moment bitcoin is easy to take over to banking and they can make their rules for that. Early adopters now this and people who are working with bitcoin developments.

There are not so many who work with big projects only few person and they make the rules how to develop bitcoin.

just tell me if I`m wrong?

FerrariF50

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Quote from: gurre on December 05, 2015, 09:51:50 PM

Quote from: kyrios_ on December 05, 2015, 09:41:37 PM

The banking system will have to change to suit bitcoin

bitcoin have to change to suit in THE banking.

Change bitcoin? Why ? Bitcoin is THE change

gurre

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Quote from: kyrios_ on December 05, 2015, 09:41:37 PM

The banking system will have to change to suit bitcoin

bitcoin have to change to suit in THE banking.

cellard

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Quote from: vilain on December 05, 2015, 08:34:19 PM

LOL

bitcoin and bank are not words that go along in the same sentence.

The decentralization is it's main feature, wouldn't make any sense a bank that would get power and jeopardize the coin market freedom.

Not everyone is going to be to be their own bank, believe it or not responsibility at such a level brings stress in a lot of people that would rather put their own money into someone's else hand (and by this I mean basically trust) to manage it for them because they just don't like the idea of having to worry about it. I see a big business in this area. At the end of the day it's all about possibilities, both the pro-bitcoin bank and self managed users have a place to exist.

kyrios_

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The banking system will have to change to suit bitcoin

gurre

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will not work with traditional banking system. Banks invest and get their profits from that but bitcoin is also used as investment. We have a problem when playing with 2 investment together and this is the reason we would see a lot of price manipulation of bitcoin.
The big makers use this system, everybody knows this.

bitcoin price is manipulated all the time and you can`t see that?

vilain

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LOL

bitcoin and bank are not words that go along in the same sentence.

The decentralization is it's main feature, wouldn't make any sense a bank that would get power and jeopardize the coin market freedom.

virtualx

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LOTEO

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?

The traditional banking system can give interest is because they spend/invest your money. They have only about 4% reserve. Bitcoin has no equivalent.
Exchanges are the closest to banks in the bitcoin space, but they do not provide interest. You could give loans to people, but be very careful with scammers. I saw interest rates between 4% and 10%.

tommorisonwebdesign

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There really is no Bitcoin bank that is trustworthy, As Bitcoin is still a new technology under testing grounds there is no real security when it comes to Bitcoin. If I were you I would only be trusting forum members on this site with a high trust rating who can be trusted with Bitcoin Banking at this point.

Alley

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I would use a bitcoin bank if FDIC insured.

biggbox

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Op dare to give this a try? Cheesy

https://nb.vu/

Here's a PR:
http://insidebitcoins.com/news/nextbank-project-bitcoin-friendly-bank-seeking-funding/35451

AndySt

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I think that the modern banking system there is little compatible with bitcoin. It will take some time before a modern fiscal system will be able to spend the full integration of the bitcoin.

redsn0w

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#Free market

Really useless thread created by a hero member, amazing Roll Eyes

!

Bitcoin bank, are you serious ?

Wapinter

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Hire me for Bounty Management

Quote from: randy8777 on December 04, 2015, 06:37:46 PM

even if there would be a bitcoin related bank that was offering interest rates for storing coins at their bank, i would never do it. i don't like a third party to have full control over my coins. that's against the nature of why i joined bitcoin.

How would keeping bitcoin in bank (if there were any for bitcoin) effect your control over your bank? Bank,as a custodian of your Bitcoin, can not spend it anywhere and you can withdraw it anytime.On the other hand,if Bitcoin banks are also regulated like other banks,our bitcoin would be more safer with them than with online wallets

louisLavery

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AISI, banks conflate two things storing your dosh and investing your dosh. It'd be better if banks provided (1) a transaction account (monthly fee, dosh 100% safe but pays no interest) and (2) an investment account (monthly fee, dosh at risk but pays interest. Greater interest = greater risk). In case (1) you still own the dosh, not like case (2) where the bank effectively owns it. But as it is, any dosh you deposit in a bank belongs to the bank, all you have is a promise to pay.

A bitcoin wallet is effectively case (1), only the fees are really low, tantamount to zero in most cases. I don't see why we can't have case (2), where you hand over your bitcoins to a third party for a promise. I mean, bitcoin is a bit like cash, only in lives on the internet, so can be invested in a manner similar to cash. If the third party goes to the wall, or makes a bad investment, then tough, just like investing cash. If bitcoin goes mainstream I don't see why such third parties would not emerge. Don't know if any exist at present.

knowhow

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We can loan our bitcoin to others without banks take their huge fee to them,using our money,btcjam and others places as here with colateral soo for one way or another we can lend safety some btc .Bank of bitcoin would be great if could offer a better rate then banks but is impossible to generate such income and well bitcoin total coins will be decreasing slowly ,soo its impossible to generate new and fresh coins,in the future we can see something to keep the bitcoin supply growing like staking as the most coins offer:) and the math should be the more bitcoins the more coins would generate. Grin

Amph

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Quote from: Tatalk on December 04, 2015, 04:39:34 PM

Quote from: lolxxxx on December 04, 2015, 01:56:02 PM

I know we can keep safe our bitcoins in an online wallet but they don't grow .. Whatever I know online bitcoin bank is not going to happen.

There is no online bank now. But in the future, when bitcoin become main stream, there will be online banks dealing with bitcoin saving and lending.

this should provide a secure investments for us with a low interest per year, better than a randomw ebsite like btcjam, and scam free

i woul definitely try it if it come true one day, but bank apparently are against bitcoin and they are developing their own blockchain

oblomov

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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?

I have some BTC in "savings" at Magnr, having taken advantage of their promotional 2.18% AER.

Magnr pays this interest from interest received from margin loans on their BTC trading platform.

The "saver" is lending money to Magnr, who in turn lends margin to traders. The rate is competitive with what I have been getting from BTC margin funding at Bitfinex, but without any effort on my part.

This is not without a small risk. BTC/USD could move very rapidly, and wipe out margin deposits on one side of the market. Magnr could be unable to return your "savings" as a result.

The difference between Magnr and a bank is that Magnr does all of these transactions on the blockchain. Also, Magnr only asked me for an email address (they state that they reserve the right to ask for more information). So no KYC/AML hurdles.

After December, the interest will be a variable rate based on prevailing margin rates.

I like their trading platform- it enables one to trade across three exchanges (bitfinex, bitstamp, itbit) at leverage of up to 10:1. What I don't like is that it does not allow limit orders.

Note: no affiliation with Magnr, but I have been pleased with the service for the past few months.

Topic: Bitcoin Bank??? - page 41. (Read 45646 times)