Topic: Build a Bank Of Bitcoin - page 14. (Read 26506 times)
think it is very troublesome and must rely on upon many elements. To start with, you should request authorization and assent of the State to you can do it. Second, the banks subject to the administration of the State and the goverment, in the event that you assemble Bitcoin bank then obviously it will rely on upon the State. This is not consistent with the way of Bitcoin, it is free and not subject to any administration of the association or person. Clients should pay charges and many individuals surely won't this way. Third, the current Bitcoin costs stay unstable, it is as yet fluctuating, paying enthusiasm to clients and oversee is troublesome.
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 ?
It is not necessary to build a bank of bitcoin due to we are the bank of our own bitcoin. I remember in the blockchain once you get log in you will see to their dashboard showed BE YOUR OWN BANK, meaning what for if we build a bank for bitcoin.
I think this is a good thing, with a bank then automatically makes the user bitcoin increasingly popular and people will be investing massive, so with bitcoin bank is more assured in the future day.
Banks are not a good option for bitcoin as in banks different legal procedures are involved and also the interest rate is another issue with the banks as interest rates changes with each stat/country. And also major share of profit is went into the bank pocket and very limited amount of profit for the account holders.
We don't need bank, we hate high interest and slow processes. Bitcoin don't need physical bank, we store our bitcoin wherever we want with full control of transactions.
Yeah that's why we are here in bitcoin because we don't want those charge and fees from the bank. But there will be some changes in the future that there will be a chance for banks to adopt bitcoin when they don't have choice. Because they are business and they know how to take business seriously so they will do it for sure.
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 ?
Having a bitcoin bank would be a great idea for saving money however still there are many wallet that you could save your bitcoins and the advantages of it is you could use your bitcoin everytime you want...yet bitcoin wallet has low fees compared to bank.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 ?
Having a bitcoin bank would be a great idea for saving money however still there are many wallet that you could save your bitcoins and the advantages of it is you could use your bitcoin everytime you want...yet bitcoin wallet has low fees compared to bank. We don't need bank, we hate high interest and slow processes. Bitcoin don't need physical bank, we store our bitcoin wherever we want with full control of transactions.
I agree, we do not need a bank to store bitcoins. This system is ideal for using without intermediaries. Banks have remained outside of this network and I am very happy about it. I do not want to overpay for transactions
This is possible with bitcoin bank, making bitcoin security more manageable in terms of safer transactions or storage and enabling to reduce the activity of bitcoin theft, but I think this will affect the bitcoin freedom that has been applied to the mechanism of the bitcoin system.
I think this is a good thing, with a bank then automatically makes the user bitcoin increasingly popular and people will be investing massive, so with bitcoin bank is more assured in the future day.
Building a bank of bitcoin is a very interesting thing to have now because of the security that it may provide for us who believed in digital currency. Right now most of the users have their huge wealth and it really needs to have assurance of best security of bitcoin storage which cannot be prone to hacking is through bitcoin banking like fiat cash banks savings.
I can not understand because of the lack of a lot of information on this topic. How much can Bitcoin be used to fear Bitcoin Bank and how much it should greatly affect the overall picture in the development of Bitcoin and for each user individually. 
Building a bank of bitcoin is a very interesting thing to have now because of the security that it may provide for us who believed in digital currency. Right now most of the users have their huge wealth and it really needs to have assurance of best security of bitcoin storage which cannot be prone to hacking is through bitcoin banking like fiat cash banks savings.
We don't need bank, we hate high interest and slow processes. Bitcoin don't need physical bank, we store our bitcoin wherever we want with full control of transactions.
I agree, we do not need a bank to store bitcoins. This system is ideal for using without intermediaries. Banks have remained outside of this network and I am very happy about it. I do not want to overpay for transactions
We don't need bank, we hate high interest and slow processes. Bitcoin don't need physical bank, we store our bitcoin wherever we want with full control of transactions.
I agree, we do not need a bank to store bitcoins. This system is ideal for using without intermediaries. Banks have remained outside of this network and I am very happy about it. I do not want to overpay for transactions
I dont think this will click. Bitcoin is not meant for bank. Its not the purpose of bitcoin. Bank is centralized while bitcoin is decentralized system. We dont want our identity revealed. Plus, no banks ever done this before, afaik. Why dont you build an exchange rather than this? Exchange/lending service, that would be great.
Yes we dont need that bank to keep our bitcoins. there many wallet and exchanger that you can use as your bank. And building bank of bitcoin is not easy, it will take a long time before it build because there are many things that you need to do if you want to build a bank for bitcoins. lets be contented on wallet because it can hold our bitcoin even you are the richest people who have lot of bitcoin. 
We don't need bank, we hate high interest and slow processes. Bitcoin don't need physical bank, we store our bitcoin wherever we want with full control of transactions.
As long as you have made successful transactions in the past without negative reviews, anyone will trust you. Moreover, we store our bitcoins in wallets which are more like banks but we still trust them based on reviews and belief that one day, the server won't just close down and disappear.
Regarding the loan, that would be a wrong move with bitcoin price volatility.
Regarding the loan, that would be a wrong move with bitcoin price volatility.
Let me guess, you're using a web/online wallet and have no idea about desktop wallets or paper wallets at all. Desktop wallets are just as secure as your PC, paper wallets are just as secure as you physically make them. But online wallets? Any hacker can penetrate an online wallet site and take the website down. Don't trust anyone is one of the basics of How to use the Internet 101. Their past transactions and their reputation has nothing to do with their future motives. It's possible that right from the start, they planned that they are going to run away at some point but can't because their website is making a good amount of money.
Reviews or feedback means nothing. It's just what we look for to see it it's still good to use that website, but that doesn't mean it will stay that way especially now that the price of bitcoin is high.
Thanks a lot for the enlightenment. You are very right. I actually use an online wallet and I have never viewed it from this angle you mentioned. I have heard about desktop and paper wallets but I have never bothered to make more findings on how to use them. Maybe I've just been in the comfort zone of using online wallets. I will look into that now. Thanks a whole lot. Cheers!
Most newbies don't realize that. They simply don't want to touch things that they don't know a lot about. Online wallets can be set up in just 5 minutes. But so can an offline wallet. Some trolls are using the line "I'm sure he's using an online wallet" to refer to how little the person they are talking to know about bitcoins. It's actually a good thing since it kind of encourages the newbies to step up and use an offline wallet.
Simply put, most people would settle with what's easiest to them. But that's not how the cryptocurrency world works. If you want to be safe, then do your own research. Even if you're just holding a little amount of bitcoins right now, you still have to make your wallet as safe as you can because you're probably going to hold more than 1 bitcoins in the future.
You're welcome, btw.
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 your bank is a legal firm, legalized and support by government such as other traditional banks, then I will trust your bank to save my bitcoin. However, it takes a lot of funds to start over and not easy to get govs approval depends on which country you stay obviously.
People would love to save bitcoin and get a loan from your Bank, because they could get interest every month, besides the value keep growing as well.
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 your bank is a legal firm, legalized and support by government such as other traditional banks, then I will trust your bank to save my bitcoin. However, it takes a lot of funds to start over and not easy to get govs approval depends on which country you stay obviously.
People would love to save bitcoin and get a loan from your Bank, because they could get interest every month, besides the value keep growing as well.
As long as you have made successful transactions in the past without negative reviews, anyone will trust you. Moreover, we store our bitcoins in wallets which are more like banks but we still trust them based on reviews and belief that one day, the server won't just close down and disappear.
Regarding the loan, that would be a wrong move with bitcoin price volatility.
Regarding the loan, that would be a wrong move with bitcoin price volatility.
Let me guess, you're using a web/online wallet and have no idea about desktop wallets or paper wallets at all. Desktop wallets are just as secure as your PC, paper wallets are just as secure as you physically make them. But online wallets? Any hacker can penetrate an online wallet site and take the website down. Don't trust anyone is one of the basics of How to use the Internet 101. Their past transactions and their reputation has nothing to do with their future motives. It's possible that right from the start, they planned that they are going to run away at some point but can't because their website is making a good amount of money.
Reviews or feedback means nothing. It's just what we look for to see it it's still good to use that website, but that doesn't mean it will stay that way especially now that the price of bitcoin is high.
Thanks a lot for the enlightenment. You are very right. I actually use an online wallet and I have never viewed it from this angle you mentioned. I have heard about desktop and paper wallets but I have never bothered to make more findings on how to use them. Maybe I've just been in the comfort zone of using online wallets. I will look into that now. Thanks a whole lot. Cheers!
Building a bank of bitcoin is a possible one, but it will make every functioning of bitcoin to be same as that happens with the traditional banking system. For this reason I don't expect the bitcoin to have separate banking network.
If making a bank will become a successful project in the first place then they need to expect that the investors or users of their banks will be just a few because now a days, bitcoin users are most likely becoming a smart user and they didn't trust that fast to the new projects and they trust the most recommended thing of the community, so if they are planning to make bank then it will need a lot of years before they prove that their service is worth it. Jump to: