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Topic: Build a Bank Of Bitcoin - page 19. (Read 26546 times)

legendary
Activity: 1036
Merit: 1002
March 09, 2017, 11:45:34 AM
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 you are going to create or build an bank of bitcoin then you likely killing web wallets where they will no longer use web wallets that has big fees when you are going to make big transaction sending in bank when you are going to send person to person there no charge at all but for me since our technology are becoming more useful if people can build an atm machine that can use bitcoin to withdraw there then much more btter
legendary
Activity: 2590
Merit: 1022
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March 09, 2017, 11:36:25 AM
I do not trust any banks. Why bitcoin Bank should be the exception? I think keeping money in banks is a bad idea.

yeah funny thing is that bitcoin was born because we don't want to keep money in the bank, and this guy is saying that there should be a bitcoin bank, this is an oxymoron to me, bitcoin should remain decentralized, if poeple feel unsecure and want more investment, they can invest in altcoin
hero member
Activity: 2884
Merit: 794
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March 09, 2017, 11:09:51 AM
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 ?

HAHA  Cheesy  Absolutely not....  why on earth would anyone trust you not to run of with their bitcoin.  I would'nt even trust the most trusted man in bitcoin Andreas Antonopolus to look after my private keys, heck i would'nt even trust me to look after your bitcoin because i understand the temptation.  if you give someone your money eventually they will run of with it.
Correct, we must think of bitcoin wallets as… well, wallets?, would we trust our wallets and the contents of it to a stranger just because he asks,  I think the answer for almost any normal human will be, hell no! So we must follow the same principle with bitcoin.
hero member
Activity: 1106
Merit: 521
March 09, 2017, 08:11:17 AM
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 ?

HAHA  Cheesy  Absolutely not....  why on earth would anyone trust you not to run of with their bitcoin.  I would'nt even trust the most trusted man in bitcoin Andreas Antonopolus to look after my private keys, heck i would'nt even trust me to look after your bitcoin because i understand the temptation.  if you give someone your money eventually they will run of with it.
legendary
Activity: 3514
Merit: 1280
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March 09, 2017, 07:51:58 AM
I think it is not what the creator wants he/she build it for the anonymity of everyone that uses it,
So if there would be a Bitcoin Bank anyone who are going to withdraw from it have to give their real personal information,
And also bitcoin is made to decentralization and privacy of its owner.
Yeah, it goes against everything that bitcoin stands for, besides it is not like a bitcoin bank can offer us any kind of benefit we cannot get with bitcoin as it is, bitcoin is very secure already, a ban will not be able to offer chargebacks because that is not possible with bitcoin, and interest rates could be gotten in bitcoin casinos.
Charges are possible if they operate like an exchange site where we deposit our bitcoins in a certain wallet that we created in compliance with the KYC. That way our transactions will be monitored and that is really the purpose of bitcoin bank if it's govern by the state, AMLC will play a big role in directing the bank to comply with a strict policy to prevent money laundering, with our current system where we only keep our bitcoin in an online wallet it's possible but with bitcoin bank it will not be tolerated and we might face charges against the government.
If your investment in a bitcoin Bank will be controlled by the state and taxed, then what is the point then to use bitcoin? Then easier to use the dollar. I think this is not an option. Bitcoin Bank should be established under the jurisdiction of the uninhabited Islands. Then you can avoid taxes and stay in the legal field

Not many people are using Bitcoin just because of the features that set it apart from fiat

On the other hand, quite a few people use it by simple virtue that they happened to lay their hands on Bitcoin (though not necessarily in any criminal way). For them, Bitcoin is just another more or less universally accepted currency like the US dollar or Euro. I don't think that we should expect entirely Bitcoin banks any time soon. Rather, that would be regular banks allowing to open Bitcoin accounts just like you open your current or deposit account right now. With all government regulation that banks are subjected to, people will trust these banks (since those would be the same banks that they are already using anyway), but this will urge merchants to start accepting Bitcoin on a wider scale. And here we come to your point why anyone would ever want to use Bitcoin. Simply because it will get wider adoption and will be accepted as a means of payment online
sr. member
Activity: 630
Merit: 263
March 09, 2017, 07:48:39 AM
I do not trust any banks. Why bitcoin Bank should be the exception? I think keeping money in banks is a bad idea.
legendary
Activity: 2170
Merit: 1427
March 09, 2017, 07:35:04 AM
Yes, I agreed on you. Bitcoin bank will not be success in the end

How do you know that already?

bitcoin I believed most of the community here won't agree on this matter also

If you browse through various related threads, then you'll notice how many people are willing to make use of such a service would it ever come to life. If demand is there, and that's obviously the case, then the only logical thing to come up with is > demand will meet supply. That's how markets work. Bitcoin is definitely not an exception.

and nobody will entrust their bitcoin to them.

I definitely wouldn't as I will never ever allow an entity to have control over my coins, but that doesn't mean others will look exactly the same at this subject. If you give certain people enough incentive to have them store their coins within your service, then they will come. Incentive could be free transactions, interest over your coins, etc.

Only stupid one will agree on this things, or lack of knowledge in bitcoin.

Perhaps that might play a certain role, but still, who cares? If they want to expose themselves to certain risks, it's their choice. It's not that you'll suffer any sort of damage from people making a mistake or a wrong choice.
legendary
Activity: 1386
Merit: 1020
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March 09, 2017, 06:29:40 AM
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, I agreed on you. Bitcoin bank will not be success in the end, bitcoin I believed most of the community here won't agree on this matter also, and nobody will entrust their bitcoin to them. Only stupid one will agree on this things, or lack of knowledge in bitcoin.
This is indeed a stupid thing to consider and you are right only people who have lack of knowledge about bitcoin will surely like this thing to happen but we all know people do love bitcoin since it cant be control by anyone but only you which is really a great feature of bitcoin.
hero member
Activity: 1092
Merit: 501
March 09, 2017, 05:33:32 AM
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, I agreed on you. Bitcoin bank will not be success in the end, bitcoin I believed most of the community here won't agree on this matter also, and nobody will entrust their bitcoin to them. Only stupid one will agree on this things, or lack of knowledge in bitcoin.
full member
Activity: 238
Merit: 100
March 09, 2017, 03:59:01 AM
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 ?

People don't really trust financial institutions because they are trustworthy, but because they are heavily regulated by the authorities. So depositors monies cannot go missing

I think the bitcoin must be different, if it is the same as the bank then everything is not interesting. I think without the bank is better, bitcoin will use during still profitable like now.
sr. member
Activity: 630
Merit: 272
March 08, 2017, 03:30:25 PM
I think it is not what the creator wants he/she build it for the anonymity of everyone that uses it,
So if there would be a Bitcoin Bank anyone who are going to withdraw from it have to give their real personal information,
And also bitcoin is made to decentralization and privacy of its owner.
Yeah, it goes against everything that bitcoin stands for, besides it is not like a bitcoin bank can offer us any kind of benefit we cannot get with bitcoin as it is, bitcoin is very secure already, a ban will not be able to offer chargebacks because that is not possible with bitcoin, and interest rates could be gotten in bitcoin casinos.
Charges are possible if they operate like an exchange site where we deposit our bitcoins in a certain wallet that we created in compliance with the KYC. That way our transactions will be monitored and that is really the purpose of bitcoin bank if it's govern by the state, AMLC will play a big role in directing the bank to comply with a strict policy to prevent money laundering, with our current system where we only keep our bitcoin in an online wallet it's possible but with bitcoin bank it will not be tolerated and we might face charges against the government.
If your investment in a bitcoin Bank will be controlled by the state and taxed, then what is the point then to use bitcoin? Then easier to use the dollar. I think this is not an option. Bitcoin Bank should be established under the jurisdiction of the uninhabited Islands. Then you can avoid taxes and stay in the legal field.
member
Activity: 93
Merit: 10
It Can Only Get Better
March 08, 2017, 10:08:02 AM
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 ?

People don't really trust financial institutions because they are trustworthy, but because they are heavily regulated by the authorities. So depositors monies cannot go missing
hero member
Activity: 3094
Merit: 606
BTC to the MOON in 2019
March 08, 2017, 02:19:08 AM
I think it is not what the creator wants he/she build it for the anonymity of everyone that uses it,
So if there would be a Bitcoin Bank anyone who are going to withdraw from it have to give their real personal information,
And also bitcoin is made to decentralization and privacy of its owner.
Yeah, it goes against everything that bitcoin stands for, besides it is not like a bitcoin bank can offer us any kind of benefit we cannot get with bitcoin as it is, bitcoin is very secure already, a ban will not be able to offer chargebacks because that is not possible with bitcoin, and interest rates could be gotten in bitcoin casinos.
Charges are possible if they operate like an exchange site where we deposit our bitcoins in a certain wallet that we created in compliance with the KYC. That way our transactions will be monitored and that is really the purpose of bitcoin bank if it's govern by the state, AMLC will play a big role in directing the bank to comply with a strict policy to prevent money laundering, with our current system where we only keep our bitcoin in an online wallet it's possible but with bitcoin bank it will not be tolerated and we might face charges against the government.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
March 07, 2017, 05:54:45 PM
I think it is not what the creator wants he/she build it for the anonymity of everyone that uses it,
So if there would be a Bitcoin Bank anyone who are going to withdraw from it have to give their real personal information,
And also bitcoin is made to decentralization and privacy of its owner.
Yeah, it goes against everything that bitcoin stands for, besides it is not like a bitcoin bank can offer us any kind of benefit we cannot get with bitcoin as it is, bitcoin is very secure already, a bank will not be able to offer chargebacks because that is not possible with bitcoin, and interest rates could be gotten in bitcoin casinos.
sr. member
Activity: 672
Merit: 250
March 06, 2017, 06:31:43 PM
bank of bitcoin without transaction cash fiat money is ready, dekstop wallet or online wallet is same bank in fiat money
but if you want bank of bitcoin must build office, and can direct cash fiat money in bank of bitcoin i think is very dificult and imposible
you must understand, many people like bitcoin because anonymous without verified ID
Thinking of such a banking system for bitcoin is good. But as you said, we can do our own transaction in bitcoin so we have privacy and choice to what are we going to do on our bitcoin. So if there is going to have a bank i gues it best uf its for converting bitcoin to money or even having a credit card for us to buy things and stuff on bitcoin.
hero member
Activity: 798
Merit: 501
March 06, 2017, 06:07:29 PM
bitcoin bank should build in large numbers means there are branches in several major cities in the country, provide services, as well as a good management system competitive interest then surely people will believe

I am against any kind of bitcoin bank but if that becomes a reality, I don’t see the point of creating a physical bank out of something that is not physical, it would be easier to create an online bank and if they need to issue physical debit cards, they could send it all over the world no need to have branches all over the world.

I think Bitcoin bank can exist only online. There is no need to build a building in real life.
All the services of the bank can be done without leaving your computer
i myself not in favour of bitcoin banks. i think the wallet system is enough for us and by banks the anonymity property of bitcoin will disturbed.
legendary
Activity: 2366
Merit: 2054
March 06, 2017, 08:39:16 AM
already widely implemented with bitcoin bank system, but the rejection of its own in bitcoin by implementing blockchain system. the appearance of bitcoin itself is the beginning of the rejection of the bank system. but many people are forced banks in bitcoin system in order to be accepted kalayak common, and many altcoin that implements the bank system in cryptoccurency .

Well any way the bank will do it, it will still be called an altcoin for us. That is just the way it is. Bitcoin will be the best one and they are still just going to mimic it. I dont say it is not good but if for them it can hasten the transaction they are doing then why not.
I woud still prefer bitcoin than it. Maybe I will have a bank account but will never invest to the ome they will create. Problem is if they force their users.

there is no compulsion in some altcoin, and some dev write captions, regulations and policies that have been made dev. as altcoin and bitcoin users should read the rules, and if there developher or publishers who wish to apply banking system should have explained at the beginning, and users understand fully what has been set dev or a publisher.
legendary
Activity: 1666
Merit: 1001
March 06, 2017, 08:09:35 AM
No I don't interested at all, I used bitcoin to escape from the government control and be able to make a transaction without need to reveal my identity, if I want to treat bitcoin as a fiat and save my money in the bank, then I would just used fiat, because there are no points of having bitcoin if there are party that could control and supervise your money
legendary
Activity: 3234
Merit: 1214
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March 06, 2017, 07:22:06 AM
Bank of bitcoin is required for a a better spreading. Only through bitcoin banks it is easy to reach people who lack in technology. Now a days several banks and financial firms have started to invest much on several hyperledger projects based on blockchain technology for the future when everything goes digital.
hero member
Activity: 994
Merit: 544
March 06, 2017, 07:04:52 AM
I think it is not what the creator wants he/she build it for the anonymity of everyone that uses it,
So if there would be a Bitcoin Bank anyone who are going to withdraw from it have to give their real personal information,
And also bitcoin is made to decentralization and privacy of its owner.

Bitcoin banks can only exist if bitcoins price will stop increasing and will became stable and fixed. But it is a long time to go before bitcoins price will be stabled. Possibly bitcoin price will reach 100 million dollars each before it can be stable in value. If that time comes it will be the moment that banks will accept bitcoin or companies will create a bitcoin bank.
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