Topic: Bitcoin cryptocurrency banks needed. - page 3. (Read 1014 times)
What is needed are more banks that have bulletproof relationships with crypto exchanges and won't suddenly close the accounts of crypto exchanges.
When any currency place into bank, they are not decentralized anymore.
Banking service is centralized, bitcoin can't become centralized if you send it to the bank.Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.
Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
People love crypto because it brings them money. Prove to them that BTC will sure never grow and cryptocurrencies won't be so interesting. Decentralization is just one of the features of bitcoin.Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
Banks can help to secure the money of its users and provide some more benefits as they do with fiat bank cards.
When any currency place into bank, they are not decentralized anymore.
Banking service is centralized, bitcoin can't become centralized if you send it to the bank.Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.
Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
People love crypto because it brings them money. Prove to them that BTC will sure never grow and cryptocurrencies won't be so interesting. Decentralization is just one of the features of bitcoin.Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
Banks can help to secure the money of its users and provide some more benefits as they do with fiat bank cards.
In the first place I don't trust any bank. But sometimes due to it is part of the requirements I am oblige to get a bank account to be qualify in the transaction I need in the business. But there are other banks now that are adopting the system of crypto currency, like unionbank if I not mistaken anyway.
When any currency place into bank, they are not decentralized anymore.
Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.
Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.
Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !
But if the banks it's like one place to save the coins, I think we don't need those banks because we already have many wallets.
It all comes down to the features they offer. If you as whatever bank offer people interest and insured balances, they'll hop over to your service without thinking. What legal entity within crypto offers that now?We have seen how unregulated platforms have attempted to do so, and it turned out to be quite lucrative on paper, but after a while people painfully understood that they made a mistake putting faith in an unregulated entity.
Xapo and Coinbase offer custody solutions already, but not based on interest, so for now they only serve very wealthy Bitcoiners--the moment they dig into that they'll experience a massive adoption boost from legacy investors too.
To add, Coinbase might become a bank itself since it is working on a banking license.
Why I supposed is because not all cryptocurrency uses can store there cryptocurrency safely and need support.
What type of support do crypto users need? I can't understand your point.
Cryptocurrency is much safer than fiat, totally encrypted and decentralized, no one can even smell your cryptos if you have maintained your security.
Most important factor here is if you have a lot of cryptocurrency and store on a ledge or pc what would happen if something goes wrong. Like the Canadian cryptocurrency exchange where the owner dead and investors lost there crypto because he was the only one with access to the legal.
If this was stored in a bank and was in control of cryptocurrency bank manager then this would have been avoided.
If this was stored in a bank and was in control of cryptocurrency bank manager then this would have been avoided.
There is difference between a exchange holding cryptos and an individual holding his/her assets.
The cryptocurrency exchange you have stated was centralized, and it was management's fault to not take preventive measures earlier to avoid these consequences.
The sound bitcoinbank sound much better then hsb@ so I can see the market need this service. Soon someone will do, probably one if the large high street names. But now I am asking my self would I just use my bitcoin bank card to get flat currency from a cash machine.
Still if anyone want to comment then please leave one. Love to hear your views.
Thanks
Still if anyone want to comment then please leave one. Love to hear your views.
Thanks
Bitcoin is decentralized and anonymous in its transactions. The creation of Bitcoin banks will mean that the crypto bankers will know the people behind each transaction thereby breaching that anonymous feature of Bitcoin. Bitcoin needs more merchants where it can easily be converted to fiat and vice versa rather than Bitcoin banks which comes with a whole idea of centralization.
Now many exchanges require the provision of our confidential data. Therefore, the problem with cryptocurrency banks is not that. I don’t understand a little why we need to keep cryptocurrency or information about it in such banks. In order to transfer it by inheritance in case of our sudden death or receive dividends from their storage?However, I see no harm to the cryptocurrency of the existence of such banks. If it will be profitable for them, then let them work. Who does not like these banks, he will not use their services. This is a voluntary matter.
I do use bank already when i don't know cryptocurrency like i really save some money there like for me this brings so much convenience in saving and in different transaction with low fees then even with regulator like government so if some create or develop wallet for bitcoin like that i think that's good but the price is really volatile so for me government will not allow that like they want assurance,Moreover that's possible if you can think then someone can really create or develop like that
That's must be regulated, its hard for a cryptocurrency to create its own bank because there is no regulations right now. Its true that bank is there before, I also using it until now but since cryptocurrency is way better, it can be a good idea to create a one place where you can put your coins easily and with a high security. We have more years to go, maybe in the future some developers will try to create their own bank. 
We DO NOT need centralized Banks to secure our bitcoins, but we need more Bitcoin friendly banks to convert our bitcoins to Fiat currencies and visa versa, when we want to do that. The Banking system are trying their best to sabotage Crypto currency clients, by closing their Bank accounts, when they figure out that clients use their Bank accounts for Crypto currency conversion.
We need some Banks to go against this global trend and to help those clients that got burnt by their local Banks.
- Yes, we really need banks that offer services like converting crypto and bitcoin into cash and vice versa because the service that banks offer will be safe and reliable, even the cost of conversion will be quite cheap. But unfortunately, most banks do not offer similar services, what they do is as you say, constantly control our account and if they find evidence relating to buying and selling bitcoin and crypto, they will terminate our activities with the account and report it to the government, Bitcoin users do not need such banks, which is a disadvantage for themWe need some Banks to go against this global trend and to help those clients that got burnt by their local Banks.
it's true as you say, not all crypto users safely store assets in the crypto wallet. but we must be able to make the best use of the crypto world. Some of the benefits that we can get by utilizing cryptocurrency include:
-Broader financial access
-Businesses run more efficiently.
-Broader financial access
-Businesses run more efficiently.
I also support cryptyocurrency bank because in that way the will be a set rules on efforts will be made to minimize fraud in the system, the exchanges that are serving as the crypto bank for now is not effective enough that is why we have high issues of scams and the rest. Once we can have an established crypto bank it will be easy to access it and confidence will be build.
We DO NOT need centralized Banks to secure our bitcoins, but we need more Bitcoin friendly banks to convert our bitcoins to Fiat currencies and visa versa, when we want to do that. The Banking system are trying their best to sabotage Crypto currency clients, by closing their Bank accounts, when they figure out that clients use their Bank accounts for Crypto currency conversion.
We need some Banks to go against this global trend and to help those clients that got burnt by their local Banks.
We need some Banks to go against this global trend and to help those clients that got burnt by their local Banks.
I believe that a cryptocurrency bank has the right to exist. In any case, it can not harm the cryptocurrency. Regarding the need and usefulness of such a bank, the clients of this bank themselves will decide. If such a decision is unsuccessful, such a bank will be unclaimed and go bankrupt.
Yes, I think Bitcoin cryptocurrency bank is very necessary. Because now the number of bitcoin and cryptocurrency users is increasing. So Bitcoin requires a bank for cryptocurrency control too. I think the Bitcoin cryptocurrency bank can be controlled very smoothly. If there are Bitcoin cryptocurrency banks, then the tendency to commit crime through Bitcoin will be greatly reduced. So we should arrange a Bitcoin cryptocurrency bank as soon as possible. It will be possible if we all work together.
Thank you
Thank you
I don't know what exactly you understand by cryptocurrency banks, as crypto appeared as an alternative to ordinary banks.
If you see banks just as a safe store of crypto, then you should know that they use hardware wallets, too. So if "banks" use cold storage, everyone can do it, we don't need banks to store our funds.
If you see banks just as a safe store of crypto, then you should know that they use hardware wallets, too. So if "banks" use cold storage, everyone can do it, we don't need banks to store our funds.
They would have to be insured but the entire point was that it was a system where there was no trust needed. You don't need to trust a bank to keep it safe.
in the business world trust is always the most important requirement, so how can we enter the bank system and we don't have trust in the bank ?? then the bank that we are headed must have proven quality because our funds will be under the supervision of the bank concerned. crypto currencies and banks will always need and synergize for the convenience of customers.
Ok. Thanks for the reply.
I am a bitcoin /cryptocurrency lover but in 2016 lose or should I say pc hardware drive damage and couldn’t recover wallet. The main reason I lost these coin is because my hard drive fault. I restored it once then searched the whole drive still had hope finding the wallet but all gone. So had to sell the pc for scrap money.
Now there ledger and other safe ways of storing cryptocurrency. So can cryptocurrency bank help store these fund more safer and also give interest on your fund. What do you think please let me know.
Does the cryptocurrency world need banks. I read samethere hsbc working on an invoice blockchain.
I personally think using blockchain for invoice payment is more safer then bank transfer or cheaque.
Please let me know by voting on the poll. Do you like the idea of have a bank account with your bitcoin in?
Getting a monthly account statement of your bitcoin with interest paid in.
I think this is the way the market is heading. Most State are against the idea. Because this will kill there local currency. Like to hear your view.
I am a bitcoin /cryptocurrency lover but in 2016 lose or should I say pc hardware drive damage and couldn’t recover wallet. The main reason I lost these coin is because my hard drive fault. I restored it once then searched the whole drive still had hope finding the wallet but all gone. So had to sell the pc for scrap money.
Now there ledger and other safe ways of storing cryptocurrency. So can cryptocurrency bank help store these fund more safer and also give interest on your fund. What do you think please let me know.
Does the cryptocurrency world need banks. I read samethere hsbc working on an invoice blockchain.
I personally think using blockchain for invoice payment is more safer then bank transfer or cheaque.
Please let me know by voting on the poll. Do you like the idea of have a bank account with your bitcoin in?
Getting a monthly account statement of your bitcoin with interest paid in.
I think this is the way the market is heading. Most State are against the idea. Because this will kill there local currency. Like to hear your view.
Yes Idea of cryptocurrencies to give full control over our assets but the problem is with that there is no proper way to transfer or give inherit if the holder dies or something happen to him which is a big problem at the moment because holding Bitcoins or any other currency means very valuable and for a person to earn such asset required hard working so there should be a proper formal way he can transfer those assets to his children or any other relation in an emergency situation and that is why crypto banks are essential for people who real need
Jump to: