Bitcoin Bank - page 6. | Bitcointalksearch.org

Zadicar

legendary

Activity: 1302

Merit: 1018

Cashback 15%

Quote from: kidoseagle0312 on May 08, 2017, 10:02:46 AM

Quote from: jgarzik on December 28, 2010, 03:40:42 PM

MyBitcoin.com is a de facto bitcoin bank. And it is clearly useful to many people.

So why some other says that be your own bank? if we are going to entrust our bitcoin to them, because I also do believed that it does not make sense at all, because we are really the bank of our own bitcoin due to its decentralization not centralization which is the bank itself was like that. Undecided

It doesnt really make sense on having bitcoin banks since there are lots of wallets to choose from and if theres a bank then what would be the purpose of those wallets on the market? Thats why they are being created so that we do have the full control of our money and if theres a bank then for sure no one would really chose to put their bitcoin on that one,considering on the tax or fee charged on storing on it there.

LuanX3

hero member

Activity: 756

Merit: 505

This topic has a thread before. Not even sure now why OP created another one. This has long been debated and no real winner has emerged, I think there are more people not in favor of this and those that are. This is really why there have been no real attempt to create a bitcoin bank that has surfaced since bitcoin's inception.

SimmonenY

full member

Activity: 224

Merit: 100

The idea of a bank is opposite to the idea of bitcoin itself. This bank would be our wallet, our exchanger, debit and credit card. Everything will be centralized and belong to the bank including our money.

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

Quote from: Pattart on May 07, 2017, 09:13:16 AM

Quote from: llyfee4u on May 05, 2017, 11:36:47 AM

I think this idea will inevitably come to reality, only a matter of time. If we want btc to be a legal tender then i think there's not two ways about it. It'll certainly be a great thing, i fear though that once regulations and governments get involved on a general scale, it may not be as much fun as it is now.

To make bitcoin legal. Then there must be a third party that can make a bitcoin user can be controlled. Using bitcoin bank then the user can be in control and it will be a positive signal for the government.

Oh my god, this is how we've turned out?
Wagging our tails to the government?

What happened to anonymity, to avoiding banks and freezing accounts , avoiding government control and liberty of choice?
How about we add inflation to bitcoin and just throw it in the trash.

We should also let the CIA and the NSA to deal with the whole Core Segwit debate.

kidoseagle0312

hero member

Activity: 1092

Merit: 500

Quote from: jgarzik on December 28, 2010, 03:40:42 PM

MyBitcoin.com is a de facto bitcoin bank. And it is clearly useful to many people.

So why some other says that be your own bank? if we are going to entrust our bitcoin to them, because I also do believed that it does not make sense at all, because we are really the bank of our own bitcoin due to its decentralization not centralization which is the bank itself was like that. Undecided

Ngewex Yuk

sr. member

Activity: 1190

Merit: 250

I think the existence of the idea bank is a nice, bitcoin distribution bitcoin will more quickly and automatically prices will skyrocket. I agree the idea of the existence of the bitcoin bank.

ipungadhi

sr. member

Activity: 272

Merit: 250

Quote from: llyfee4u on May 05, 2017, 11:36:47 AM

I think this idea will inevitably come to reality, only a matter of time. If we want btc to be a legal tender then i think there's not two ways about it. It'll certainly be a great thing, i fear though that once regulations and governments get involved on a general scale, it may not be as much fun as it is now.

I think this is a trial from the government. If with bitcoin bank the user can be under control by the bank. Then it will make the government sure to be able to legalize bitcoin or receive bitcoin

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: llyfee4u on May 05, 2017, 11:36:47 AM

I think this idea will inevitably come to reality, only a matter of time. If we want btc to be a legal tender then i think there's not two ways about it. It'll certainly be a great thing, i fear though that once regulations and governments get involved on a general scale, it may not be as much fun as it is now.

To make bitcoin legal. Then there must be a third party that can make a bitcoin user can be controlled. Using bitcoin bank then the user can be in control and it will be a positive signal for the government.

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

Quote from: darthmaul on May 07, 2017, 04:12:51 AM

HaHa . That is so much true buddy. I liked your correlation of bitcoin and its anonymity with wallet/bank services. That is very good assumption but when we put our money on those services we have our transaction confirmation isn't it? They can help us identify our money though. What about some services who provide us with few private keys without which the bitcoins can not be moved from our wallets. It provides security as well as proof of identity without any documents. However it is now ambiguous as some of them doesn't rely on private keys. Hope it will change the face of bitcoin soon by implementing some more identifier kind of widgets. Cheesy

Yeah I can imagine how are going to tell your story in court ..

Here is the tx...
Do you have proof this is your transaction?
I have the key from the address that sent the coins
Can you prove that this was a key you acquired yourself?
No but it is only one key...
Does anybody else has the key?
Well, I guess not because you see sha256 the universe possibility numbers.
Yeah , next case.

Has anyone got their money back from inputs.io? Cheesy

darthmaul

sr. member

Activity: 714

Merit: 252

Quote from: stompix on May 06, 2017, 09:45:41 AM

Quote from: posternat on May 06, 2017, 01:14:44 AM

Quote from: lovesybitz on April 30, 2017, 01:13:21 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

As far as I know, we are the bank of our own bitcoin savings. And if there is someone will establish a bank, I won't entertain their
services anyway, because most bank I mean all banks are regulated industry and while bitcoin was not.

I dont mind bitcoin bank too, I am well satisfied of the wallets we have the online and offline wallets. T!heir services is good enough for me, bank will just add up to our hassleness in life unlike what we have now just an email address and name are enough and also our anonymity will be erase to bitcoin's feature.

So you don't mind bitcoin banks but you think that banks will erase bitcoin anonymity.

How many times after how many "hacks" have people stated here that once you let a web wallet manage your bitcoins those are not yours anymore?
You like web wallets with no identification?
Then good luck proving that those were your bitcoins that got stolen and good luck getting them back.

You can't have anonymity with a wallet service / bank and at the same time security.

HaHa . That is so much true buddy. I liked your correlation of bitcoin and its anonymity with wallet/bank services. That is very good assumption but when we put our money on those services we have our transaction confirmation isn't it? They can help us identify our money though. What about some services who provide us with few private keys without which the bitcoins can not be moved from our wallets. It provides security as well as proof of identity without any documents. However it is now ambiguous as some of them doesn't rely on private keys. Hope it will change the face of bitcoin soon by implementing some more identifier kind of widgets. Cheesy

bitllionaire

legendary

Activity: 1120

Merit: 1000

Quote from: llyfee4u on May 05, 2017, 11:36:47 AM

I think this idea will inevitably come to reality, only a matter of time. If we want btc to be a legal tender then i think there's not two ways about it. It'll certainly be a great thing, i fear though that once regulations and governments get involved on a general scale, it may not be as much fun as it is now.

i do not think that we will ever feel the need for bitcoin banks as the modern people wants change and therefore they are not going to accept any old and traditional way of banking regarding bitcoin. i think that the wallet system is still the best for holding bitcoin.

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

Quote from: posternat on May 06, 2017, 01:14:44 AM

Quote from: lovesybitz on April 30, 2017, 01:13:21 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

As far as I know, we are the bank of our own bitcoin savings. And if there is someone will establish a bank, I won't entertain their
services anyway, because most bank I mean all banks are regulated industry and while bitcoin was not.

I dont mind bitcoin bank too, I am well satisfied of the wallets we have the online and offline wallets. T!heir services is good enough for me, bank will just add up to our hassleness in life unlike what we have now just an email address and name are enough and also our anonymity will be erase to bitcoin's feature.

So you don't mind bitcoin banks but you think that banks will erase bitcoin anonymity.

How many times after how many "hacks" have people stated here that once you let a web wallet manage your bitcoins those are not yours anymore?
You like web wallets with no identification?
Then good luck proving that those were your bitcoins that got stolen and good luck getting them back.

You can't have anonymity with a wallet service / bank and at the same time security.

posternat

hero member

Activity: 798

Merit: 500

Quote from: lovesybitz on April 30, 2017, 01:13:21 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

As far as I know, we are the bank of our own bitcoin savings. And if there is someone will establish a bank, I won't entertain their
services anyway, because most bank I mean all banks are regulated industry and while bitcoin was not.

I dont mind bitcoin bank too, I am well satisfied of the wallets we have the online and offline wallets. T!heir services is good enough for me, bank will just add up to our hassleness in life unlike what we have now just an email address and name are enough and also our anonymity will be erase to bitcoin's feature.

Yatsan

legendary

Activity: 2394

Merit: 1231

Leading Crypto Sports Betting & Casino Platform

Quote from: RedX on May 05, 2017, 09:53:25 PM

Quote from: lovesybitz on April 30, 2017, 01:13:21 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

As far as I know, we are the bank of our own bitcoin savings. And if there is someone will establish a bank, I won't entertain their
services anyway, because most bank I mean all banks are regulated industry and while bitcoin was not.

Right, our wallets are already used as our own bank. There are no difference with that. And why do you need a bitcoin bank when there's the usual bank to put all your savings? And I don't think the bank industry wouldn't that because imagine if a lot of people deposit a big chunk of bitcoin and then let's say after a month it's value tripled then those bitcoin bank would be bankrupt. I'm sure that an exchange in fiat for bitcoin will be an automatic features of those banks so sort of that things will likely to happen.

Maybe if someone can make a real bitcoin bank it must have a lending feature so that the bitcoin deposited to their bank by the people can grow because of the lending feature of it. But in bitcoin we have no papers so it will be became impossible because the users can run. So by the conclusion of it the best option is the bitcoin wallet that we have right now.

RedX

sr. member

Activity: 364

Merit: 250

Quote from: lovesybitz on April 30, 2017, 01:13:21 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

As far as I know, we are the bank of our own bitcoin savings. And if there is someone will establish a bank, I won't entertain their
services anyway, because most bank I mean all banks are regulated industry and while bitcoin was not.

Right, our wallets are already used as our own bank. There are no difference with that. And why do you need a bitcoin bank when there's the usual bank to put all your savings? And I don't think the bank industry wouldn't that because imagine if a lot of people deposit a big chunk of bitcoin and then let's say after a month it's value tripled then those bitcoin bank would be bankrupt. I'm sure that an exchange in fiat for bitcoin will be an automatic features of those banks so sort of that things will likely to happen.

llyfee4u

full member

Activity: 444

Merit: 101

I think this idea will inevitably come to reality, only a matter of time. If we want btc to be a legal tender then i think there's not two ways about it. It'll certainly be a great thing, i fear though that once regulations and governments get involved on a general scale, it may not be as much fun as it is now.

babysweetTiger0401

sr. member

Activity: 777

Merit: 251

Quote from: cybersofts on April 18, 2017, 02:35:31 PM

Quote from: wobber on December 28, 2010, 10:10:58 AM

Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?

There's no bitcoin banks for now, perhaps in future when the number of bitcoin in circulation is huge. Now I thinking only bitcoins bank we have is our Bitcoin wallets, where you store and save your bitcoins.

I would agreed in this matter, and I'm not in favor also in bitcoin bank because we are the bank of our own money through bitcoin.
If ever there is a bitcoin bank this is no longer a decentralize it is already a centralize system because its connected to banking system anymore.

LegendOF45

sr. member

Activity: 518

Merit: 250

I think the idea of the existence of the bitcoin bank is good, with the presence of the bank then everything becomes legally so that the country will soon officially legalize bitcoin.

CODE200

sr. member

Activity: 1428

Merit: 308

★Bitvest.io★ Play Plinko or Invest!

The bitcoin bank idea is not impossible but the main key for it is a huge amount of money and the bitcoin is created by unknown person, so by the concept of that the bitcoin bank became impossible because the kinds of wallet to store it is created and by that the price of the bitcoin is became as one so it will be under that law of supply and demand, So for mme the bitcoin bank itself is a wallet but to make it one as a bank for me is impossible.

Viscore

hero member

Activity: 3038

Merit: 647

Quote from: richardsNY on May 04, 2017, 06:46:35 PM

Quote from: killgald on May 03, 2017, 05:21:23 PM

It will open a news form of payment for the general people and BTC will gain more knowlege and power in the world. It will owrk like with credit cards an account in BTC to pay anything.

It's already possible to have a credit card-like service combined with Bitcoin. It's called a Bitcoin debit card -- you deposit BTC, and you'll then get the ability to pay basically everywhere in the world. If you have no more coins left, you can't buy anything. It's not based on debt as is the case with credit cards. Major benefit. If you're seriously interested in it, then look for services as BitPay, Xapo, Bit-X. They all offer Bitcoin related debit cards.

I hope soon there will be more competition so the charge will be lowered, I checked that kind of services but it seems very expensive to me. Well, as of the moment I don't really have much time to spend my money online since I used my funds for investing but I would love to see more of that kind progressing in the future. Bitcoin as payment system not as currency accepted by the bank, just to be clear..

Topic: Bitcoin Bank - page 6. (Read 41207 times)