Bitcoin Bank??? - page 6. | Bitcointalksearch.org

RastMan

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Quote from: pinkpanther03 on March 29, 2017, 11:50:02 AM

Quote from: airezx20 on October 23, 2016, 05:39:17 AM

Quote from: Theb on October 20, 2016, 10:47:39 AM

I don't think there is one or there will ever will be. Because right now all we see in the internet are all scams in which they provide high interest rate to attract people to put their money on, but what really is happening is that they are just giving money from the new investors to the old one but the real winners are the scammers which will be the one running away with your money.

Yes i also think so because i dont feel any need of doing it and no body wants it.First of all bitcoin is decentralised and the bank are to be licensed by the government and also there are bitcoin wallets available with all the security features,then there is no need at all for the bitcoin banks.

Actually, we all know that bitcoin bank was a centralized one which is connected in regulated industry. While in bitcoin it is decentralization were it giving the bitcoin holder has the right to keep His/her personal bitcoin savings and none of the governments cannot control it.

That could be the lighting network. I have the impression that banks can offer LN service.

pinkpanther03

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Quote from: airezx20 on October 23, 2016, 05:39:17 AM

Quote from: Theb on October 20, 2016, 10:47:39 AM

I don't think there is one or there will ever will be. Because right now all we see in the internet are all scams in which they provide high interest rate to attract people to put their money on, but what really is happening is that they are just giving money from the new investors to the old one but the real winners are the scammers which will be the one running away with your money.

Yes i also think so because i dont feel any need of doing it and no body wants it.First of all bitcoin is decentralised and the bank are to be licensed by the government and also there are bitcoin wallets available with all the security features,then there is no need at all for the bitcoin banks.

Actually, we all know that bitcoin bank was a centralized one which is connected in regulated industry. While in bitcoin it is decentralization were it giving the bitcoin holder has the right to keep His/her personal bitcoin savings and none of the governments cannot control it.

AIGADS

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:)If I want a bank to hold my funds I wouldn't use Bitcoin. That's big paradox. Bitcoin Bank is unnecessary, it's like you have gold but you use your gold to dig stone.

FiiNALiZE

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Quote from: ?? on ??

Your bank thing is really against bitcoin purpose which is decentralized,and probably bank for bitcoin will not exist

You have a point.
Not only is Bitcoin Banks obsolete, there isn't any point of having any interest adding onto Bitcoin unless you wanted more Bitcoins -if you wanted more Bitcoins then just invest in an Altcoin and receive Bitcoins doing that.
Bitcoin Banks would have as much risk as an Altcoin so I wouldn't see any difference in the two unless there was a HYIIP scam text somewhere listed on the banking company that said otherwise.

youdacapt

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GOD is TRUE

Quote from: Silberman on March 21, 2017, 09:05:10 PM

Quote from: Jalum on March 19, 2017, 04:51:53 AM

There isn't any Bitcoin banks that have what you're currently asking about. It would be pretty cool if it did. There is a user in the Economics Bitcointalk board that was thinking about building a Bitcoin bank with interest rates like that though the whole community decided that it'll be pretty tough to make it happen.

Isn't this what altcoins are used for? Bitcoins are growing with the price rise so it should be pretty much the same thing as what you're asking for.

The difficult part would not be to store the coins since there are many services that offer that some way or another, the difficult part will be to pay the interest rates since traditional banks use lending and as we know lending is extremely risky in the world of bitcoin.

Realizing this is really hard, but it will happen if there is one company or site went public with high level of confidence, perfect system like conventional banks, and risk to continue to be audited by financial institutions on regular basis.

Lending system and setting interest rates do not have to follow state regulations such as the determination of transaction fee that has occurred. For bitcoin banking system i believe blockchain can make it happen.

Silberman

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Quote from: Jalum on March 19, 2017, 04:51:53 AM

There isn't any Bitcoin banks that have what you're currently asking about. It would be pretty cool if it did. There is a user in the Economics Bitcointalk board that was thinking about building a Bitcoin bank with interest rates like that though the whole community decided that it'll be pretty tough to make it happen.

Isn't this what altcoins are used for? Bitcoins are growing with the price rise so it should be pretty much the same thing as what you're asking for.

The difficult part would not be to store the coins since there are many services that offer that some way or another, the difficult part will be to pay the interest rates since traditional banks use lending and as we know lending is extremely risky in the world of bitcoin.

Ewinsane

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Quote from: wahb on March 18, 2017, 04:24:13 PM

Quote from: BitcoinPC on March 17, 2017, 10:06:34 AM

Quote from: iv4n on March 10, 2017, 07:48:32 PM

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

I agree with you , bitcoin banking is not a good idea, it is just like using the regular bank, if that is so why not just use the bank instead of bitcoin?
We should be bank of our own. Things will not be the same if bitcoin will be bank. Bitcoin is good without a bank.

yes that is right to say i am also not in favour of bitcoin banking, i will like to say that i i want to continue with the online bitcoin wallet as you can use it anywhere and anytime.

yeah online bitcoin wallet is much more better than bank because has a lot of charges and extra taxes and bitcoin wallet is much more safe and secure than bank and bitcoin have too much lower fees and these no charges apply on bitcoin.

tn211

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Quote from: TheAlgorithm on March 19, 2017, 01:54:45 PM

Bitcoin banks do exist but they are a monumentally stupid thing to put your money in. The reason for this is that because Bitcoin is not very established nor is the price stable, there is no bank that you can genuinely trust to continue paying out forever, just like an exchange. The chance of any given "Bitcoin bank" collapsing partway through your investment with your money still in it is dramatically higher than the interest that you will earn from it as a Bitcoin bank would act like an exchange, just giving the promise that you will get your Bitcoin back (you wouldn't own the Bitcoin anymore).

That's right. At this time it's far to risky to sent a third party your precious btc.
Be it an exchange or other service. I therefore only risk 5 btc per exchange. Because my experiences so far are not positive. The same will be with a bank, unless their are backed by a big real bank.

TheAlgorithm

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Bitcoin banks do exist but they are a monumentally stupid thing to put your money in. The reason for this is that because Bitcoin is not very established nor is the price stable, there is no bank that you can genuinely trust to continue paying out forever, just like an exchange. The chance of any given "Bitcoin bank" collapsing partway through your investment with your money still in it is dramatically higher than the interest that you will earn from it as a Bitcoin bank would act like an exchange, just giving the promise that you will get your Bitcoin back (you wouldn't own the Bitcoin anymore).

chachaa

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Quote from: Zenithar on March 19, 2017, 11:18:55 AM

Quote from: ekoice on March 19, 2017, 07:15:20 AM

Bitcoin was created to free the people from banking sector.Why do you need a bitcoin bank providing interest when you already get huge returns from your bitcoins?If you are worried about losing your investment in trading,then just keep your bitcoins as investment.Its enough to yield you profits.

i personally do not like the idea about bitcoin banks as we are already fed up from the physical banks i think the online wallet is the best system, just need to make the present wallet system more and more reliable and trusted.

Totally agree with you. What can bitcoin give us? He will not give us anything new. We ourselves manage our bitcoins in our purses. Why do we need an intermediary who will take the commission?

Soul Reaper

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by asking such a question you are actually destroying the beauty of a bitcoin,
i mean how can you think about bitcoin bank,
knowing the fact that it is totally decentralised and does not need any third party like a bank.
You have got a bitcoin wallet and your own bitcoin address to do any transaction.
it is itself like a banking system so there is no use of bank to control bitcoin
infact bitcoins rising is the biggest nightmare to the banks.

Zenithar

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Quote from: ekoice on March 19, 2017, 07:15:20 AM

Bitcoin was created to free the people from banking sector.Why do you need a bitcoin bank providing interest when you already get huge returns from your bitcoins?If you are worried about losing your investment in trading,then just keep your bitcoins as investment.Its enough to yield you profits.

i personally do not like the idea about bitcoin banks as we are already fed up from the physical banks i think the online wallet is the best system, just need to make the present wallet system more and more reliable and trusted.

taxmanmt5

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Quote from: wahb on March 18, 2017, 04:24:13 PM

Quote from: BitcoinPC on March 17, 2017, 10:06:34 AM

Quote from: iv4n on March 10, 2017, 07:48:32 PM

Bitcoin bank is not a good idea, because that goes directly against principles of bitcoin. Be your own bank, that was first words I saw about bitcoin, don't trust third party to finish what you can do by yourself. Bitcoin bank will exist one day just because some people are not capable to things alone, some people always needs help and that's why there will always be service's that will take money from people for doing simple jobs instead of them.

I agree with you , bitcoin banking is not a good idea, it is just like using the regular bank, if that is so why not just use the bank instead of bitcoin?
We should be bank of our own. Things will not be the same if bitcoin will be bank. Bitcoin is good without a bank.

yes that is right to say i am also not in favour of bitcoin banking, i will like to say that i i want to continue with the online bitcoin wallet as you can use it anywhere and anytime.

Exactly, bitcoin wallet is hassle free as long as you have internet connection you can access it unlike making a btc bank and for sure it will broke the anonimity of the users, there will be more requirements to submit on to have it and enrolled in a bank.

ekoice

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Bitcoin was created to free the people from banking sector.Why do you need a bitcoin bank providing interest when you already get huge returns from your bitcoins?If you are worried about losing your investment in trading,then just keep your bitcoins as investment.Its enough to yield you profits.

rajasumi3

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No i dont think it is even necessary to create bitcoin bank
It will reduce our annomity .
Well we have our own wallet and even if we want bitcoin loan we can have it and we have communirt for it .

Mikellev

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Quote from: Silberman on March 18, 2017, 07:19:44 PM

At the moment, I don’t know of a single bitcoin bank that promotes itself as one, however since bitcoin help us to be our own banks then any service that offers wallets to store your bitcoin are in a way a bank with the difference they are not offering interest rates for having your money stored with them.

Bitcoin bank is not possible. reason is simple it is decentralized one, we all know that price changes very often and maximum times the price goes high in this case the bank has to give the best value to its user which is very difficult to manage. just hold your money in btc wallet which will in turn give you interest much better than bank.

BingoDog

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Quote from: Tyrantt on March 19, 2017, 05:08:23 AM

Quote from: iqlimasyadiqa on March 19, 2017, 04:55:21 AM

see conditions like this we all would require a bitcoin bank. because with the bitcoin bank we all can get services like banks in general. home loans would be an easy thing.

I disagree, if there were bitcoin banks, how long wold it take for them to make things with bitcoin like it's with fiat money? Bitcoin banks are totally not needed in the case of bitocin, everything the banks does, you can do it yourself.

Maybe bitcoin banks would be different. I.don't think they would necessary be bad for bitcoin and the users. I also don't want to say that we surely need them but this is the topic to discuss and argue about. Bitcoin banks could offer some new advantages and services so not just abandone this idea at start.

Tyrantt

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Need some spare btc for a new PC

Quote from: iqlimasyadiqa on March 19, 2017, 04:55:21 AM

see conditions like this we all would require a bitcoin bank. because with the bitcoin bank we all can get services like banks in general. home loans would be an easy thing.

I disagree, if there were bitcoin banks, how long wold it take for them to make things with bitcoin like it's with fiat money? Bitcoin banks are totally not needed in the case of bitocin, everything the banks does, you can do it yourself.

Astvile

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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 think there is still no bitcoin wallet that acts and provide services like a bank,but we are looking forward to see one of those in future

iqlimasyadiqa

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see conditions like this we all would require a bitcoin bank. because with the bitcoin bank we all can get services like banks in general. home loans would be an easy thing.

Topic: Bitcoin Bank??? - page 6. (Read 45646 times)