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Topic: Build a Bank Of Bitcoin - page 25. (Read 26506 times)

full member
Activity: 222
Merit: 100
February 14, 2017, 09:11:23 PM
#95
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 agree, it is possible to happen, just need a big capital to do that
U2
hero member
Activity: 676
Merit: 503
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February 14, 2017, 07:49:24 PM
#94
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 have already explained why lending bitcoins is not a very good idea overall, but you seem to have missed that post. Basically, if someone takes a loan from you and provides a collateral, they may willingly and wittingly default on their loan if Bitcoin price surges a few times (and you will suffer heavy losses). On the other hand, I don't think that many folks would want to give you their property as a guarantee if it is worth a few times more than the bitcoins they might borrow from you. Really, if this property is actually worth so much, they could just take a regular loan in a regular bank and buy bitcoins with it

So, do you still think that we should trust you with our bitcoins?

Short term loans like you see on this forum make sense but that's not what banks deal with. They want to give you a car loan or a mortgage or something big like that. None of this borrow $40 and pay $50 back next week. Who the hell has time for that crap? It's not worth the risk and certainly not worth the time.
hero member
Activity: 840
Merit: 529
February 14, 2017, 03:52:33 PM
#93
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 ?

What would be the point of such a bank? :/
Loans? You can get there on lots of different sites
Interests? What interests could you give which would be enough so we take risks with btc, a currency that has the best inflation of the world
full member
Activity: 381
Merit: 101
February 14, 2017, 03:50:26 PM
#92
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 ?
Probably  the community in this industry, once they've find out that you establish a bitcoin bank, I think most of them will ignore you only, or some member here might get sarcastic with you or criticize you. even you had good program to anyone here, still they won't agree in Bitcoin bank ever. Its my perception only,
hero member
Activity: 980
Merit: 523
February 14, 2017, 03:41:22 PM
#91
Building a bank of bitcoin is really an awesome idea to have because most of bitcoin earners stored their btc using online wallet which I think unsafe for storing bitcoin due to vulnerable of hacking. If we have a bank of bitcoin I think that all hacking issues will be miimized and you now keeping safe what you have earned for future investments.
i do not agree with your idea because we know that bitcoin has very stable system to control bitcoin and people do not trust any bitcoin bank and they are mostly using their own personal wallet to save bitcoin.
hero member
Activity: 868
Merit: 500
February 14, 2017, 12:27:27 PM
#90
Trust is something very hard to have online, first question is who are you that believe someone will trust you 0,01btc at your bank project?
Second lending bitcoins will ruin your project, as already stated above the price can skyrocket making you loose the bitcoins. If you had some skill at trading those would be the way for you to follow, lower risk, loans real banks does provide those already.
legendary
Activity: 910
Merit: 1000
February 14, 2017, 11:27:40 AM
#89
of course I would believe that if your bank already has a legal basis to create a new bank, but it feels a bit difficult at the beginning, but rest assured the future will inevitably bring changes .On where you set up the bank
Exacly, must there are valid legality from the government,
because must there are control the bank of bitcoin,
about data of costumers capital for runing the business.
Everything must has valid rules from the government,
will make the people believe on new bank of bitcoin.
legendary
Activity: 3486
Merit: 1280
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February 14, 2017, 09:29:20 AM
#88
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 have already explained why lending bitcoins is not a very good idea overall, but you seem to have missed that post. Basically, if someone takes a loan from you and provides a collateral, they may willingly and wittingly default on their loan if Bitcoin price surges a few times (and you will suffer heavy losses). On the other hand, I don't think that many folks would want to give you their property as a guarantee if it is worth a few times more than the bitcoins they might borrow from you. Really, if this property is actually worth so much, they could just take a regular loan in a regular bank and buy bitcoins with it

So, do you still think that we should trust you with our bitcoins?
hero member
Activity: 924
Merit: 506
February 14, 2017, 09:03:19 AM
#87
Can you prove that you have gold reserve in a secure place to back up any probable loss? could you open a shared bank account in Cayman island and then provide the bitcoin investors with a private page and a private key so that they could have access to their money which is the equivalent worth of the bitcoins at the time of depositing?
If yes then I'm in, where do I sign up?
sr. member
Activity: 532
Merit: 251
February 14, 2017, 07:54:44 AM
#86
no i dont trust you. this is totaly out of why I invest in bitcoin. if I want to invest a bank, I dont buy btc.
hero member
Activity: 1190
Merit: 534
February 14, 2017, 03:07:01 AM
#85
I guess you have to study the government regulation first, you cannot just build a bank as it is not easy to get a permit if you are not qualified to do so. Bank is regulated by the government and they set guidelines to be followed by those who applied for it, bitcoin is a different think as they do not consider it as a currency but just only a payment system.

Exactly, one must consider the regulations of the central bank of that country before starting any such bank. In other words, a government must approve bitcoin as a currency to allow their citizens to deal with bitcoin. Not only bank but if I am not wrong, even stating bitcoin ATM service, one is supposed to take the prior approval from the concerned authorities and since bitcoin is not yet recognised by the government yet, the process is complicated at this moment.
hero member
Activity: 3052
Merit: 606
February 14, 2017, 02:14:52 AM
#84
I guess you have to study the government regulation first, you cannot just build a bank as it is not easy to get a permit if you are not qualified to do so. Bank is regulated by the government and they set guidelines to be followed by those who applied for it, bitcoin is a different think as they do not consider it as a currency but just only a payment system.
hero member
Activity: 630
Merit: 500
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February 13, 2017, 05:19:03 PM
#83
Building a bank of bitcoin is really an awesome idea to have because most of bitcoin earners stored their btc using online wallet which I think unsafe for storing bitcoin due to vulnerable of hacking. If we have a bank of bitcoin I think that all hacking issues will be miimized and you now keeping safe what you have earned for future investments.
sr. member
Activity: 423
Merit: 251
February 13, 2017, 12:31:15 PM
#82
of course I would believe that if your bank already has a legal basis to create a new bank, but it feels a bit difficult at the beginning, but rest assured the future will inevitably bring changes .On where you set up the bank
legendary
Activity: 1176
Merit: 1001
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February 13, 2017, 12:00:47 PM
#81
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.
hero member
Activity: 980
Merit: 523
February 13, 2017, 12:00:24 PM
#80
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 we do not need to save our bitcoin with any bank because we can save our bitcoin easily in our wallet and it more safe and better to save my bitcoin in my wallet and bitcoin system is very much stable so do not need bitcoin bank.
hero member
Activity: 2310
Merit: 886
February 13, 2017, 11:56:11 AM
#79
This isn't good idea and there are many reasons for that.
1. Goverment doesn't support bitcoin and in reality they don't like it
2. Bitcoin loans will be very bad for banks especially online loans because it's against bitcoin rules (anonymity)
3. It will be economically bad for any bank because of it's very changeable price.
4. If it is be good idea, it would be already done but we see that bitcoin bank doesn't excist.
hero member
Activity: 966
Merit: 517
February 13, 2017, 11:55:40 AM
#78
if you like a bank which are available for fiat nowadays like running under the rule of government then it is impossible to get the same banks for the use of bitcoin because for that it will first require the governments to legalize bitcoin and then we will be able to get a bank like that which will be the same like our current banks.
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Activity: 2744
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February 13, 2017, 11:26:17 AM
#77
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 ?

you should encourage us first and tell us what will be the advantage and good benefits that we will get from using your bitcoin bank aside from getting an interest and loans and how can we be sure that our funds will be much secured . so far, I don't know if it's already necessary to have a bank for bitcoin when we can have our own bank by having a good and secured wallet .
hero member
Activity: 826
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February 13, 2017, 10:59:40 AM
#76
I don't even see the point.
Only 3 uses to a bank:
-keeping your property safe -> useless if you have your own wallet
-keeping up with inflation through the 2% you'l earn a year -> ridiculous compared to BTC inflation
-having your money accessible at all time through credit card -> digital currency hello?
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