Bitcoin Bank??? - page 8. | Bitcointalksearch.org

Sniper44

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Quote from: ipungadhi on March 16, 2017, 07:15:52 PM

Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

centralization as banks will not be in use by the user of bitcoin because many users choose to use bitcoin for decentralization
although bitcoin bank there. I think they will not get a lot of users

a bitcoin bank will always be another service like many other services out there that are offering something about bitcoin, and you are right it would be centralized and because of that many will never use it but also a lot of people may actually use it because of all the services that a bank offers (the same services that they offer for fiat and we use)

Sadlife

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People wants to use bitcoin because of its fast payment and decentralized features. Bitcoin being a centralized currency would probably destroy it and no one wants to be controlled by their government's rules and regulations in terms in using your own money.
Bitcoin will continue to grow without needing banks it's fine the way it is although there are some flaws in these digital currency in time it will be solve.

Labumi

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Quote from: btcdevil on March 16, 2017, 04:31:47 PM

Quote from: stergium on March 16, 2017, 04:22:51 PM

Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

i myself do not like bitcoin banks, to i like the online wallet system. because the bitcoin banks will centralize bitcoin and i do not think that any one will be ready for that to see bitcoin as centralize currency.

Apart from what you are saying, if their is bitcoin bank then the meaning of Bitcoin existence will become nil, as Bitcoin and the wallet are itself a bank so it is really very bad idea of creating a bitcoin bank.

Exactly once. If there is some State of the bitcoin bank will make regulations where each of their citizens using banks and prohibited from using bitcoin wallet bitcoin. Because it aims to scrutiny against the funds belonging to each of its citizens and they don't want that money which is owned by the State misused by those who are not responsible. And the thing that's most frustrating is that we get charged extra for every storage and also additional charge for every transaction done

ipungadhi

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Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

centralization as banks will not be in use by the user of bitcoin because many users choose to use bitcoin for decentralization
although bitcoin bank there. I think they will not get a lot of users

btcdevil

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Quote from: stergium on March 16, 2017, 04:22:51 PM

Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

i myself do not like bitcoin banks, to i like the online wallet system. because the bitcoin banks will centralize bitcoin and i do not think that any one will be ready for that to see bitcoin as centralize currency.

Apart from what you are saying, if their is bitcoin bank then the meaning of Bitcoin existence will become nil, as Bitcoin and the wallet are itself a bank so it is really very bad idea of creating a bitcoin bank.

stergium

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Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

i myself do not like bitcoin banks, to i like the online wallet system. because the bitcoin banks will centralize bitcoin and i do not think that any one will be ready for that to see bitcoin as centralize currency.

Ravion

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Quote from: mornabo on March 10, 2017, 07:09:52 PM

Quote from: warwar on March 09, 2017, 03:31:59 AM

Most likely bitcoin wallets serves as banks for our bitcoins but does not have an actual system features like what real banks have.But coinbase i think offer likely but not the same services as real banks offer.But there are maybe more coming wallet that will feature all that too

yeah probably would not come bitcoin bank, but will come online wallet that is similar to bitcoin bank. where they promised interest and loans. but of course they have control over your bitcoin?

One of the main reasons for the invention of Bitcoin was the centralization that the banking system had created.
If there would be a Bitcoin bank it would undermine the decentralized nature of Bitcoin. And it would also undermine the anonymity. Banks would mean that the government would get involved (which means taxes). Anyone who would want to open an account at the bank would be asked for documents. Also, banks would be charging fees for storage and transactions. So I think that most people wouldn't want to use the services of such a bank.

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Quote from: asdalani on March 12, 2017, 09:10:26 PM

Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

Having to put my Bitcoin inside a Bank just for interest rates wouldn't be that smart. Bitcoin is already going up in value so why would I need more money and generate more risk rather than reward? A Bitcoin Bank would only have an interest rate of less than 1% or so, that just doesn't make sense to me.

Just simply holding Bitcoin inside a regular Bitcoin Wallet is enough for me. If the price goes up more then I would make more money and lose nothing.

I'm sure you will earn bigger but just holding it that store it in the bank for a little interest. In addition, I don't think we will be able to patronize a bitcoin bank when it will not offer us great benefits, our information is very important to us and as much as possible we want to keep it confidential.
The current system is already outstanding, it let us store our bitcoin in our respective wallet without divulging our personal information which I consider a full freedom on our part.

asdalani

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Quote from: simpler2016 on March 11, 2017, 03:15:24 PM

Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

Having to put my Bitcoin inside a Bank just for interest rates wouldn't be that smart. Bitcoin is already going up in value so why would I need more money and generate more risk rather than reward? A Bitcoin Bank would only have an interest rate of less than 1% or so, that just doesn't make sense to me.

Just simply holding Bitcoin inside a regular Bitcoin Wallet is enough for me. If the price goes up more then I would make more money and lose nothing.

Taki

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Quote from: Fireblade on March 12, 2017, 02:07:08 PM

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.

yes i am also not in favour of bitcoin banks. i think the wallet system is the best option for keeping bitcoin.

I am agree. The idea of just keeping bitcoin safe seems me silly, cause of private wallets of different kinds do this option very well. And other bank's services like kredits seems a bit strange, cause of you can take like 1 BTC credit with price 1200$ and in a year or two you will have to pay back this 1 BTC with price 2000-3000$. I think till bitcoin will not be mass adopted about such things as bitcoin bank there is no sense to even talk about.

richardsNY

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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.

It doesn't go against Bitcoin's principles since Bitcoin also stands for freedom. I personally wouldn't make use of such a service, but that doesn't it can't be a useful solution for others. It's a fact that certain people can't handle the responsibility of managing their own wealth. That's why they are eagerly looking forward to what might be a bank-like service. Why would we care about what others do? If they want to make use of such a service, then let them. It has zero impact on us.

Fireblade

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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.

yes i am also not in favour of bitcoin banks. i think the wallet system is the best option for keeping bitcoin. i think no one will be welling to use banks for withdrawal or depositing bitcoins in bitcoin banks. in fact using online wallet system is more easy and convenient to use bitcoin wallet for different purposes. i myself using blockchain wallet and yobit wallets for saving my bitcoin.

simpler2016

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Quote from: crazyivan on March 11, 2017, 10:36:09 AM

I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

Nobody likes services that do not give useless secrets to our savings. That is why such a bank will not be popular.

crazyivan

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I think OP asks about the interest, not about the actual bank.

There re several online services where you can get interest on your BTC. Not a registered bank though. There s no 100% safety.

raven7886

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Quote from: BitHodler on March 10, 2017, 02:44:58 PM

Quote from: bitart on March 08, 2017, 05:13:42 PM

Banks don't protect you from volatility in the real life as well. E.g.: You live in the USA and you want to have an account in EUR currency. The bank lets you open the account, helps you exchange your USD to EUR, but after the bank won't protect you from the volatility of EUR, that means you won't be sure that your EUR will worth the same amount of USD compared to the time when you originally had it exchanged. This is not a problem in real life, why should it be a problem in connection with bitcoin? A lot of peole use the volatility of different currencies and uses it to make money by exchanging the currencies at the proper time.

You miss two very important points.

1 ~ I pointed the question of how banks would prevent people from being exposed to the volatility at the user I quoted. I didn't say anything about banks to offer protection against volatility.

2 ~ Banks/governments don't consider Bitcoin to be a currency that sits on the same level as fiat currencies. So your example/comparison is not valid.

That is true, for a long time now people have been complaining about why bitcoin is still not an approved currency by the governments, and thus making banks not interested in storing it, that is because bitcoin is something that is not controlled by anyone and it could change in terms of price unlike other fiat currencies which makes storing it in banks a big risk.

iv4n

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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.

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Quote from: Kray on March 10, 2017, 11:12:57 AM

Quote from: noictib on March 10, 2017, 10:56:17 AM

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 here no one 100% legit site or bank available for the bitcoin and bitcoiners that can pay us sure profit interest like the traditional bank system in Fiat currency .
Since some of the alternative are available to make profit more than that we are getting from the bank small interest .
We should put our Bitcoin at Poloniex like exchange and out our Bitcoin and other popular altcoins to lend .
In this way we can make more than the interest paid by the bank without any risk .

I dont have trust with net banking, better stake your coin by yourself than store your coin to other people

If everyone remembers about the sentence of being your own bank and the bitcoin bank will be very useless in my mind, And no one was interesting to store his money into the 3rd party and I can say the bitcoin bank idea just like a troll and it will never happen because both are the opposite things.

mornabo

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Quote from: warwar on March 09, 2017, 03:31:59 AM

Most likely bitcoin wallets serves as banks for our bitcoins but does not have an actual system features like what real banks have.But coinbase i think offer likely but not the same services as real banks offer.But there are maybe more coming wallet that will feature all that too

yeah probably would not come bitcoin bank, but will come online wallet that is similar to bitcoin bank. where they promised interest and loans. but of course they have control over your bitcoin?

Fireblade

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Quote from: warwar on March 09, 2017, 03:31:59 AM

Most likely bitcoin wallets serves as banks for our bitcoins but does not have an actual system features like what real banks have.But coinbase i think offer likely but not the same services as real banks offer.But there are maybe more coming wallet that will feature all that too

and i do not think that we need for any bitcoin bank. i think the wallet system is the best option as we have fully right to use our wallet anywhere and any time there is not time frame for using bitcoin wallet to use. i can withdraw my bitcoin any time for spending it or investing it anywhere. there is no restriction to use for investment or spending it.

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Quote from: BitHodler on March 10, 2017, 02:44:58 PM

Quote from: bitart on March 08, 2017, 05:13:42 PM

Banks don't protect you from volatility in the real life as well. E.g.: You live in the USA and you want to have an account in EUR currency. The bank lets you open the account, helps you exchange your USD to EUR, but after the bank won't protect you from the volatility of EUR, that means you won't be sure that your EUR will worth the same amount of USD compared to the time when you originally had it exchanged. This is not a problem in real life, why should it be a problem in connection with bitcoin? A lot of peole use the volatility of different currencies and uses it to make money by exchanging the currencies at the proper time.

You miss two very important points.

1 ~ I pointed the question of how banks would prevent people from being exposed to the volatility at the user I quoted. I didn't say anything about banks to offer protection against volatility.

2 ~ Banks/governments don't consider Bitcoin to be a currency that sits on the same level as fiat currencies. So your example/comparison is not valid.

1. Sorry, my post wasn't to be a reply but just a new post, I've clicked the wrong button, there's no need for an answer from you.
2. I reccommend reading this:
http://www.loc.gov/law/help/bitcoin-survey/ This is a link to a survey about countries and the regulation of bitcoin in particular countries. E.g. EU countries consider bitcoin as a currency and not a commodity. Japan is even more bitcoin-friendly.

Topic: Bitcoin Bank??? - page 8. (Read 45646 times)