I would not. First is I dont know you.
Second are many questions.
1. Would you rely on the bitcoin price as it grows also?
Example: If I stored 1 bitcoin to you now and the price is $1018 then suddenly it goes up by $2000 does that mean you my store bitcoin in your also have that price? You might lose some money with that.
2. How much is the interest? Is that interest going to grow according to the price of bitcoin?
Topic: Build a Bank Of Bitcoin - page 24. (Read 26546 times)
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 ?
Well it's kinda simillar like coinbase and xapo but the difference is we can get interest for our saving. It's a good idea for those who have lot of bitcoins and earn profit while saving it. I personally don't like bitcoin bank idea firstly it's against bitcoin's concept "decentralized" also i don't trust wallet where i can't controll my private key, cause they, the owner have ultimate controll over my bitcoin, they can freeze my money or even steal it.It's better to own your money on your pocket just saying
Your bitcoins can be stolen from your own wallet as well
Indeed, I don't mean you personally, but that's likely the case with the majority of users who are using personal wallets (unless you use a paper wallet, of course). We hear now and then that some exchange got hacked and their clients' bitcoins were stolen but we don't know how many users lost their coins too after their computers got compromised. Also, it is rumored that coins held at Coinbase are insured from theft, though I don't know if it is really so
If you will build a bank for bitcoin will it be really popular to people? I think it will be not that popular.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your bank.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your bank.
It is a good observation that putting up a bitcoin bank is much harder than putting up a normal bank. There are many customers that will rain the bank with several complains that are out of your control just like slow confirmation and slow transactions. When a hacker get into your system you must have a back-up funds to refund their bitcoins. Your life will get complicated when you establish a bitcoin bank today, possibly in the future it will be feasible when people are familiar with bitcoin and how it works.
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 ?
Well it's kinda simillar like coinbase and xapo but the difference is we can get interest for our saving. It's a good idea for those who have lot of bitcoins and earn profit while saving it. I personally don't like bitcoin bank idea firstly it's against bitcoin's concept "decentralized" also i don't trust wallet where i can't controll my private key, cause they, the owner have ultimate controll over my bitcoin, they can freeze my money or even steal it.It's better to own your money on your pocket just saying.
i think bitcoin it self is higher technology than bank, make me feel to have my own bank.
so why we need bank for bitcoin ?
Yes you are right, personality I don't agree with bitcoin bank,so why we need bank for bitcoin ?
because bitcoin is more better than bank include in amout of transaction,
there are not limited on bitcoin and there are not personal id on bitcoin.
The idea is welcome
Bitcoin being decentralized is what it is but don't you think if it became centralized through a Bank we would have mass adoption of the digital currency and it would have a better public reputation(and become legal) unlike the misconception media reports that its drug money.
I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized
You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.
I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized
You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.
I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized
You got it dude!..Decentralization is best features of Bitcoin if they make a bank of Bitcoin the decentralization feature will erase.And the bank they can controlled the market growth of Bitcoin.
i think bitcoin it self is higher technology than bank, make me feel to have my own bank.
so why we need bank for bitcoin ?
so why we need bank for bitcoin ?
If you will build a bank for bitcoin will it be really popular to people? I think it will be not that popular.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your bank.
First, will you be really accept the consequences of holding a bank of bitcoin online? For me it is a big responsibility to be trusted and you must not disappoint your costumers.
Second, you must have a lot and big patience for that bank. Costumers are always right, and they will always have complaints about your bank and your services.
Third, banks are always close for being robbed, so are you ready for those hackers that will try to hack and rob the currencies that you are holding? You must have a security for those hackers. And bitcoin is a really popular cryptocurrency so it might happen in your 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 ?
The most of the answers will be no ,Bitcoin banks will no more or even useless? Why ,my opinion is why inwould save my bitcoins on your bank ifni can save it on my own wallet online or offline. There's no big difference also for some reasons anonymity would be more likely useless ,depends on how the situation or the idea of bank instead more idealy gold to establish is a business to accept bitcoins.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 ?
The most of the answers will be no ,Bitcoin banks will no more or even useless? Why ,my opinion is why inwould save my bitcoins on your bank ifni can save it on my own wallet online or offline. There's no big difference also for some reasons anonymity would be more likely useless ,depends on how the situation or the idea of bank instead more idealy gold to establish is a business to accept bitcoins. I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized. if we do that we are breaking and changing the good meaning of bitcoins.
true, I think the presence of bitcoin bank, then they can exert control to each customer or user of bitcoin, but I think with bitcoin bank. it will help the government to believe in bitcoin 
I don't like bitcoin bank, Even the community in bitcoin world don't like it too, because we are decentralized not centralized. if we do that we are breaking and changing the good meaning of bitcoins.
I feel like this wouldn't do well, one of the benefits of Bitcoin is you can be your own bank.
Still, I learned that many people are preferring a system which will imitate a traditional banking features for the purposes of buying and selling bitcoins. Maybe this reason would be valid for short period of times as in near future we need not to struggle to buy or sell bitcoins as there would be many easy options are going to avail for everyone.When you are getting paid in bitcoins, you never need a separate services to buy bitcoins. Similarly when you will be able to "use" bitcoins, there is no need of selling it.
Bitcoin created to counter the traditional banks because many are disappointed with the way the bank works according to the most people is not profitable to save money in the bank, I dont think your idea will work if you want try to build this business.
Then why are the three major banks of Japan allowing the blockchain and accepting it all the sudden?They are going to regulate it I know but still bitcoin needs the backing of those old banks if they wish to break thru to those customers that hold true to the current banking system because that is all they know and see it work for decades. So why change to something that hasn't had the time to prove itself yet and not have such credibility in that respect?
For reference purposes:
http://www.cryptocoinsnews.com/japanese-megabanks-invest-bitcoin-exchange
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.
indeed, especially if the government wants to involve with the bank then i am sure that government wants to know who is the people is using bitcoin and who is the person which have much of bitcoin in their account. but if the bank its not like traditional bank, then they should protect their customer/member, maybe the function is like the ordinary bank that we've know.
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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.
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 bitcoin bank concept is not different with wallet and exchange company. You can see they manage your money in another place/countries. You don't who is behind that company, you don't where is their office but you trust them to store your money in bitcoin online wallet.So I don't think build a bitcoin bank can make a unique concept, it can lose the character of bitcoin it self. When you meet the bank's teller to save your bitcoin, it's no anonymous anymore.
I feel like this wouldn't do well, one of the benefits of Bitcoin is you can be your own bank.
Jump to: