Bitcoin Bank??? - page 43. | Bitcointalksearch.org

lolxxxx

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Quote from: midmir on December 04, 2015, 01:45:20 PM

Quote from: lolxxxx on December 04, 2015, 01:41:01 PM

There should be a online bitcoin bank where people deposits there bitcoins like dollars in bank and the bank should exactly work like real life banks . but too much scams happens everyday so people will not trust the online bank lol

You are joking, right?

Well why should i joke i personally likes bank so just thought that there should be an online bank .. To help peoples to keep there money safe and growing slowly

midmir

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Quote from: lolxxxx on December 04, 2015, 01:41:01 PM

There should be a online bitcoin bank where people deposits there bitcoins like dollars in bank and the bank should exactly work like real life banks . but too much scams happens everyday so people will not trust the online bank lol

You are joking, right?

lolxxxx

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There should be a online bitcoin bank where people deposits there bitcoins like dollars in bank and the bank should exactly work like real life banks . but too much scams happens everyday so people will not trust the online bank lol

VirosaGITS

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Quote from: Meuh6879 on December 04, 2015, 01:34:48 PM

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

IS there any Bitcoin Bank that really works like bank.

Yes, now ... https://www.cryptocoinsnews.com/ukraines-largest-bank-helps-integrate-bitcoin-as-a-payment/

I think its just a matter of time before Banks either integrate it or start fighting it. Its not that hard to do considering its the job of a payment processor on an exchange to convert the BTC to FIAT, why not get a cut of the pie themselves, even though its fairly small at the moment?

Meuh6879

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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.

Yes, now ... https://www.cryptocoinsnews.com/ukraines-largest-bank-helps-integrate-bitcoin-as-a-payment/

maokoto

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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?

The closest thing to that I have found is haobtc online wallet. It provides interest on your savings there and also allows for deposit for more interest. Online wallets are not that trustworthy though, but CEO has posted several pics of their mining operation and all.

Interest come from their mining, I think.

Minecache

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Is the OP not really meaning when will we see a safe, secure, and possibly guaranteed place to store their Bitcoins? It's all very well saying you are your own bank, keep the private key, etc. But for Bitcoin to have mass adoption you need to cater for the lowest common denominator. I can see something like this in the future. But they will charge you x satoshis a month as this will be the only way to make money for the guarantor beyond traditional banking. Banking in the oldest sense will be dead.

cryptocrypt

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No need bank, you're the bank of your bitcoin

Slark

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Op if you only want to have 'bitcoin bank' to fulfill one specific role - and that is to provide interest for money deposited. Then there are more options for you - and it is called investing.
Money deposits are created for lazy people who have no idea what to do with their money, and have no idea how to invest. If you learn more about it you will never go back to storing excess of your money in the bank.

ShrykeZ

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There are lending services that provide interest, obviously this isn't a bank and comes with its own risks. BTCJam is the one of the more popular lending sites.

bearex

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Shit, this would destroy the purpose of Bitcoin. It would become just another thing owned by the government.

eternalgloom

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Weren't there some online wallet services that offered some form of interest on the coins you store with them?
I thought I saw someone mention a service like that recently.

Whether something like that would be viable is a different story...

Sjensinn

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Quote from: franky1 on December 03, 2015, 11:44:37 PM

having your private key IS your bank..

say you bought bitcoin last month at $250, this month its $350
that is better interest than any bank will give.

I agree on not needing a bank. But do you look at bitcoin as a currency or a thing to make money off(Stock)? Of course its kind of both, but what is the mindset of the bitcoin community?

johnyj

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In fact, the earliest banks in history are evolved from exchanges, so I'm not surprised that one day Bitstamp or BTCC/Okcoin paying you an interest to put your coins there

The problem is, unlike fiat money, banks can loan out them to get some return to pay for depositor's interest, when you loan out bitcoin, it is very likely the coins will never return due to coin appreciation, and banks can not print money to replace those bad loans like fiat money, so there is no way for a bitcoin bank to generate profit

And just like MTGOX, these exchanges do not have the possibility to ask for a bailout from the government in case of a crisis, and they are not covered by FDIC insurance either, so they are totally on their own, the risk to put lots of bitcoin there is much higher than putting some fiat money in the bank

yoona

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Live by your own rules

I choose both yepppp bank and bitcoin. I need it and however bitcoin and bank cant be compared each other as it totally different.

HarryKPeters

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Most banks are afraid of bitcoin. They harrass their own clients by blocking accounts, delayed payments, just when you bougt a bitcoin.

For now it would be best to use an exchanged like kraken and have a bank transfer to them (SEPA) for the EU.

xuan87

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up until now i havent heard anything like Bitcoin bank

even if it is available I kind of doubt for using it,

first of all does the bank has a physical building?

if no then what is the different with usual investing website

after that what is the guarantee that this bank will not scam our money? and we got no proof because Bitcoin account is anonymous

so I think starting a bitcoin bank is bad idea

bitmarket.net

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As many people have pointed out here, the idea of a traditional bank doesn't really with well with the concept of a decentralised currency like bitcoin.

If you want to earn interest on your bitcoin, consider one of the bitcoin peer-to-peer lending platforms.
If you would rather invest it in some business, soon there should be bitcoin crowd-funding sites.

With bitcoin, you do not need a bank to use the services that banks traditionally used to offer.

USB-S

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Some dude was promoting his "cryptocurrency central bank" in his sig. You may try to contact him to hold your bitcoins for you or you may store your private key yourself which most of the bitcoiners are doing. If you don't hold your private keys yourself you may end up losing your hard earned bitcoins. I would recommend a cold storage, with a hot wallet.
Also another forum member told us, that he keeps a decoy wallet on his desktop with a few dollars inside, if that gets wiped then he'll wipe his entire hard drive. Which is a pretty solid idea in my opinion.

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Quote from: ranochigo on December 04, 2015, 04:06:37 AM

Unfortunately, no. The closest I can think of is Vircurex which pays interest on the deposits. It isn't secure since they are in full control of your Bitcoin. A bank basically uses your funds to loan to others for interest and in turns pays the interest to the bank account. It is not possible with Bitcoin since it is very hard to verify the legitimacy of the information provided.

Isn't Vircurex like dead for awhile? I have used them a lot before their hack but after the hack, they have just never recovered.

The closest to the Bitcoin bank is Coinbase and Circle in my opinion. They offer you insurance and you have a debit card now with Coinbase. There is no interest though but interest in your savings is a history in conventional banks as well.

And yes, I am completely against the concept of a Bitcoin bank! Aren't we all here because we got tired of the word bank?

Topic: Bitcoin Bank??? - page 43. (Read 45646 times)