Topic: Build a Bank Of Bitcoin - page 4. (Read 26546 times)
Many people are gonna confused if they gonna trust your bitcoin bank, as we know that online currency is so volatile many people can blame you that if you keep their bitcoin you because the amount that they lost in the bank is bigger than what the interest should get in thier bitcoin that you keep.
A bank of bitcoin? It could be a good idea but how will this be achieved because I think it is going to be very difficult judging from the way bitcoin should be kept. How do you intend to collect people's bitcoins? Are you doing that in a single wallet? More information please.
in my opinion it's very difficult. it's very difficult to get trust from others. there is currently a lot of fraud and hacking of exchange sites and trading of crypto currencies. so it's impossible if you want to make bitcoin storage services like banks in general. and the crypto currency has a volatile price so that the interest that will be earned each month will be different even though the amount of our assets remains the same every month.
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 ask like this, of course we are confused what to answer. Because the foundation doesn't yet exist, the location's not clear, let alone service and security, how we can trust something that doesn't yet exist.
As a bank of bitcoin it means that it can function as a financial institution or as a forum for the economy of the people in the surrounding area. And this is mandatory especially in fostering trust in the eyes of society. I think this's the first step which you must do because this is where the beginning of each assessment will be present.
There is always someone who occasionally goes out with this story.
A bitocoin bank does not make sense, because the blockchain is already a bank, so it is not clear what should be deposited.
I hope banks will disappear forever.
A bitocoin bank does not make sense, because the blockchain is already a bank, so it is not clear what should be deposited.
I hope banks will disappear forever.
Standard banks might beat you to it.
https://www.cnbc.com/2017/12/18/central-banks-will-hold-bitcoin-and-ether-in-2018-blockchain-ceo.html
"Central banks will begin holding bitcoin and Ethereum next year, Peter Smith, CEO of Blockchain said.
Smith also said that central banks will begin to issue their own cryptocurrency."
I do think that a bitcoin bank would defeat the purpose of decentralization, but I do believe that there needs to be more secure and beneficial ways to store crypto (and loan it), which could be achieved through more secure crypto exchanges.
https://www.cnbc.com/2017/12/18/central-banks-will-hold-bitcoin-and-ether-in-2018-blockchain-ceo.html
"Central banks will begin holding bitcoin and Ethereum next year, Peter Smith, CEO of Blockchain said.
Smith also said that central banks will begin to issue their own cryptocurrency."
I do think that a bitcoin bank would defeat the purpose of decentralization, but I do believe that there needs to be more secure and beneficial ways to store crypto (and loan it), which could be achieved through more secure crypto exchanges.
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 such a bank already existed, it would have gone bankrupt this year. Cryptocurrency is very unstable in price and therefore I do not recommend engaging in such a bank. Even if you make a profit for the first time, in the end such a bank will burst. Yes, and create such a bank is not easy. It is better to observe whether old bank employees will create such banks. They are well able to calculate such risks. However, it seems to me that such a bank would be unprofitable.
Mostly here prefers to no bitcoin banks! We cannot please all users,investors to support your plan eventhough its just a test to make or having your opinion.
How will this be possible? Bitcoin is meant to be stored in individual wallet which a person has control over and bitcoin works with decentralization. Bank works with account number in a centralized setup. How do you intend to keep people's bitcoins?
i think that might be possible, but i have not been able to find the answer, it happens if government legalizes it, so government has a role to do all policies that they think are good 
How will this be possible? Bitcoin is meant to be stored in individual wallet which a person has control over and bitcoin works with decentralization. Bank works with account number in a centralized setup. How do you intend to keep people's bitcoins?
Why we need bank of bitcoin if we can easily opening bitcoin wallet. Bitcoin wallet is like banks account and thats why banks afraid if bitcoin spread wide and used by many people.
One day when bitcoin has become a world currency, bitcoin banks may need to be established. It is necessary to carry out the regulation of bitcoin among tax-related countries, and minimized the use of bitcoin for illegal purposes, such as drug trafficking and terrorist financing. 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 ?
No. I won't save my bitcoin with anyone or even bitcoin bank. Bitcoin does not need any special bank. You are your own bank with your online wallet which is accessible anywhere. That is the idea of bitcoin. No external control. Just you and your coins alone.
From my point of view, it is really hard and unnesscessary to build a bank of bitcoin. Because bitcoin a digital curerrency, it doesn't need a bank to be stored
Why we need bank of bitcoin if we can easily opening bitcoin wallet. Bitcoin wallet is like banks account and thats why banks afraid if bitcoin spread wide and used by many people.
Someday when bitcoin has become a global currency, bitcoin banks will probably stand physically to make it easier for bitcoin users, because for now bitcoin ATMs also exist physically in several countries.Why we need bank of bitcoin if we can easily opening bitcoin wallet. Bitcoin wallet is like banks account and thats why banks afraid if bitcoin spread wide and used by many people.
Someday when bitcoin has become a global currency, bitcoin banks will probably stand physically to make it easier for bitcoin users, because for now bitcoin ATMs also exist physically in several countries. 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 build a bank of bitcoin and use a system like that applied by banks, what is the difference between bitcoin and banks 
isn't that the same?bitcoin has its own system of crypto and cypto transparency which is not owned by the banking system, that's the reason people like bitcoin
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 ?
Bitcoin bank must be build in numerous numbers of cities across different countries around the globe since bitcoin users are scattered in difference parts. Before putting a ban of you should established a well credibility for the people to trust of their coins and money to 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 ?
Bitcoin banks must be build in many cities with many branches since bitcoin users are scattered all over the world. But there are chances that people would not easily trust you. Since you don't have any achievements that can be evidence to trust you. Cryptocurrency is something that hard to be trusted to other people.
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 ?
.No .Who you are.There are some crypto bank projects but i don't see them to be successful
do you know that there are legislation it is not so much easy to create bank
Or you just want to open page named BTC bank and collect people money
You will end in jail probably
It doesn't follow the vision of bitcoin to have a central repository, or control authority. Why would one entrust bitcoin to a bank when it is easier to keep it in your wallet. The banks can be targets of hacks and they will add any value
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