if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
If indeed you have such ideals, then it is legitimate whether consumers who join or not it depends on you in managing the company you want to live in my opinion is not easy to build storage facilities (bank bitcoin) because it takes a skilled person who supports the company you are going to prepare, about me interested or not, it depends on what you are promoting and people will judge your management well or not. 
Topic: Build a Bank Of Bitcoin - page 12. (Read 26548 times)
No I won't. If you promise interest on top of the price increase of bitcoin you would lose. In order for your bank to operate properly you will have to use bitcoin for another investment for it to grow. Now, in order for it to grow you either: invest in ICO, trading or gambling. All are high risk. Also, there is no government that will protect our BTCs just in case you go bankrupt.
Absolutely, that is a very hard process and i won't support that kind of strategy. When you build a bank for the bitcoin users, investors and members it allows only to those country having legally accepted the bitcoin by the government like Japan and United state of America and etc. What about the countries have given only an access but they are not totally legal, it compromises a chaos between that process.
No I won't. If you promise interest on top of the price increase of bitcoin you would lose. In order for your bank to operate properly you will have to use bitcoin for another investment for it to grow. Now, in order for it to grow you either: invest in ICO, trading or gambling. All are high risk. Also, there is no government that will protect our BTCs just in case you go bankrupt.
If you give us all services and security, we will trust you. Bitcoin is a serious issue. And it is now a asset for us who have Bitcoin. We want it's security. If you assure as it's security, we will definitely support you. Thank you.
if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
why need to create bank for interest when bitcoin itself providing interest when price grows?and i gues more than enough for what you can offer.and if thats the case whats the sense of beinh decentralized?if you will put banks instead of our own storages the essence of free ownership without interference will gone and theres no need for this communitu to exist Personally I wouldn`t trust such a bank because it is against the btc`s own mission and why this currency has been developed, so it would be a contradiction to it.
You have a point, what is the sense of calling it a digital currency if it will exist like a normal fiat money. I guess the creator of bitcoin launched it for a bigger cause, bigger than what we have right now. Having a bank would be great but once you think about it, what is the purpose of that bank if we all have our wallets it may be online or a cold storage, we can do all we want with our money without the confirmation of anybody.Personally I wouldn`t trust such a bank because it is against the btc`s own mission and why this currency has been developed, so it would be a contradiction to it.
You have a point, what is the sense of calling it a digital currency if it will exist like a normal fiat money. I guess the creator of bitcoin launched it for a bigger cause, bigger than what we have right now. Having a bank would be great but once you think about it, what is the purpose of that bank if we all have our wallets it may be online or a cold storage, we can do all we want with our money without the confirmation of anybody. 
Banks should be operated by a big organization or a government perhaps not ony by a single person. Also I don't think that thjs thing will be admired by Bitcoin users since there are e-wallets where they can store their Bitcoin and get profit as its market value continues to grow. Banks are usually controlled by a government and it happened that Bitcoin is decentralized so it would go in contrast.
if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
For sure, I think it will not be pursued by many people sincd we all know that Bitcoin is standing on its own wherein people can already monitor, manage and access their holdings effectively unlike banks that you need to seek for information by going directly upon them. Building a Bitcoin bank is like building an ordinary bank so it will make no sense because what you will offer, can be done by each people for their own effectively. 
Personally I wouldn`t trust such a bank because it is against the btc`s own mission and why this currency has been developed, so it would be a contradiction to it.
My first reaction was "this is a complete nonsense", because bitcoin was create just to allow people to not depend from banks.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
Online wallets (at least the reputable ones) are constructed in a way so that you generate your private keys without the wallet service having access to it. So the online wallet service never has custody of your coins because they have no ability to access or move the crypto. Exchanges, on the other hand, do have custody because you send the coins to their address. That's also why you're seeing all these exchanges get regulated now by financial regulators, just like banks undergo regulatory supervision. Regulation increases confidence that the operators are legit and can't run away with funds because they'll be prosecuted for fraud and theft.
These ones aren't online wallets
They have their own name, they are called hybrid wallets. And if we compare between online, desktop and hybrid wallets the latter are the least secure of the three because your keys can be stolen from you computer as is the case with desktop wallets and they can be intercepted when you send the keys over the network despite them being encrypted. This is what happened with blockchain.info wallet (which is a hybrid wallet) when the hackers were successful in catching the private keys at one of the Tor exit nodes. On the other hand, online wallets like Coinbase or Xapo have full control over your private keys and you can't ever see them (they never hit the network)
Any online wallet that keep your private key is a bank, so there is nothing new to build.
An you can expect that these site will start to offer all kind of bank services: loans, leasing, and so on.
An you can expect that these site will start to offer all kind of bank services: loans, leasing, and so on.
It would be nice if there would be an official bitcoin bank, where people can transact (deposit/withdraw/convert) with ease. However, this might take a while because not all government supports bitcoin and other cryptocurrency because of security. Maybe this is possible if bitcoin and cryptocurrency will be widely accepted by everyone.
I think establishing a bank of bitcoin beats the ideology and purpose of its users. I mean we are utilizing bitcoin because we want to stay away from conventional centralized banks. Making it centralized would mean transactions and bitcoins will be taxed and regulated. Isn’t that one of the main reasons why cryptocurrency had been developed?
Well yes that is the main reason thus, we can't avoid that matter people are too greedy and technology was upgrading even bitcoin bank isn't necessary they will look and find a way to make a bitcoin bank and i am watching for these technologies if someday one might have a good reputation and built a bitcoin bank without changing or disrupting its own feautures. I always believe that technology can do everything nowadays. 
My first reaction was "this is a complete nonsense", because bitcoin was create just to allow people to not depend from banks.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
Online wallets (at least the reputable ones) are constructed in a way so that you generate your private keys without the wallet service having access to it. So the online wallet service never has custody of your coins because they have no ability to access or move the crypto. Exchanges, on the other hand, do have custody because you send the coins to their address. That's also why you're seeing all these exchanges get regulated now by financial regulators, just like banks undergo regulatory supervision. Regulation increases confidence that the operators are legit and can't run away with funds because they'll be prosecuted for fraud and theft.
I think establishing a bank of bitcoin beats the ideology and purpose of its users. I mean we are utilizing bitcoin because we want to stay away from conventional centralized banks. Making it centralized would mean transactions and bitcoins will be taxed and regulated. Isn’t that one of the main reasons why cryptocurrency had been developed?
Building a Bitcoin bank is a very good thing. Instead of just holding your bitcoin for too long and just waiting for its price to grow high but always go down right away, you can store your bitcoin to bitcoin bank for it to increase its quantity and then withdraw it when you want to sell your bitcoin with the price you will be satisfied on. Of course the system of bitcoin bank will be the same as the fiat money`s banks which can earn interest from time to time, then it will be all great.
My first reaction was "this is a complete nonsense", because bitcoin was create just to allow people to not depend from banks.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
But if I think to online wallets, the have in their hands YOUR private key, actually they act as banks (and if they run out of business, you lose all your money)
So, bitcoin banks already exist.
Wouldn't building a bank make Bitcoin centralized? Although banks have certain advantages like insurance, being decentralized has equal or if not better advantages since it is virtually unhackable.
if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
I think it's gonna be a waste of time to go to your bank just to make transaction or withdraw some of my bitcoins in your bank. If i am living on the other city about an hour ride from my place, that'll be time consuming. I'd rather use online or digital wallet to make payments or buy digital currencies.
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