Topic: Build a Bank Of Bitcoin - page 7. (Read 26506 times)
Nobody likes the word "bank" in the cryptomir, because it is associated inevitably with fiat money and loans. The most interesting thing is that in the real world banks face similar scalability problems. By giving our money to the bank and using a plastic card for payments, the bank does not transfer money to another bank immediately, but issues a debt note and conducts a mutual settlement later. This scheme perfectly scales, but to apply directly to Bitcoin, of course, we have no desire.
It's always frightening for me the level of economic interest: there's always someone who proposes to print more money, and someone who wants to create a bitcoin bank.
To both I suggest to devote themself to agriculture ...
To both I suggest to devote themself to agriculture ...
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'm 50/50 on this. I like the idea but very wary of the security.
It is impossible to create a bitcoin bank, partly because it is not clear how they could be "protected". And then, the bank is already in your computer.
Instead, typically bank services may arise, such as loans, mortgages, leasing, etc.
We will see how they will develop.
That is true I agree with that ,because the bank services are of business, as you mentions like loans ,lease mortgages, while here in bitcoin we are more in trading business nearly to a stock exchanges ,so banks are only holders for deposits ,so the bitcoin bank will fit for hodlers of coins , but if you engage in trading ,buy and sell then you are the one managing your own bank. Instead, typically bank services may arise, such as loans, mortgages, leasing, etc.
We will see how they will develop.
It is impossible to create a bitcoin bank, partly because it is not clear how they could be "protected". And then, the bank is already in your computer.
Instead, typically bank services may arise, such as loans, mortgages, leasing, etc.
We will see how they will develop.
Instead, typically bank services may arise, such as loans, mortgages, leasing, etc.
We will see how they will develop.
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 impossible to create a bitcoin bank, you have to build a bitcoin bank infrastructure in all countries that have branches, you must also provide some data that can be trusted by many people to reduce crime.But my advice is better to provide better means of exchange that can receive loans.
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.
i agree with this, especially in the lending service one, i think there are some people that want to join in crypto but they don;t have the money, i think that lending idea is a good one, and for me crypto is better to be a personally in an own wallet 
Why we need bank of bitcoin if we already have bitcoin wallet. When we having bitcoin wallet, its like we having bank account and we can directly make transaction with others. I am prefer keeping my bitcoin in my own wallet because bitcoin wallet is secure
Agree, I just feel comfortable when bitcoin is stored in my wallet, rather than bitcoin bank because this is a virtual world, we can not believe anyone, the government will not be involved and deny the responsibility for the bitcoin bank, so there is no reason to trust a bank, bitcoin has disappeared, we also have no way to get back bitcoin. No one has enough credibility to build a bank of bitcoin except government but the government never supported the idea of building, this is a series of problems without solutions, better that we should ignore this topic
i think 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 bank support bitcoin i think it is good idea!
We all know that there is no single entity who owned bitcoin, maybe it will need ample time and deep discussions, like about it's possible advantage and disadvantage of doing such thing.
Do you want a bitcoin bank? I think if there is a bitcoin bank it is convenient for us and we will have good services such as bank leniency such as loan service and deposit 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 ?
I don't think this will be a good idea about having a bank of bitcoin as this can be prone to DDOS attack by the hackers same what they did with the exchanges and it's very risky putting your bitcoin on the bank not unless the bank will held responsible in any losses of the deposited bitcoin and that could be a good condition. 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 ?
A bank is not a simple institution. They are regulations involved. There is minimum capital adequacy. Depositors are protected through insurance... It isn't easy getting permission and running a bank.
Of course I will feel comfortable if you can provide a security guarantee on bitcoin that I keep in your bank, people save fiat money in conventional banks also because they feel comfortable and safe from the guarantees provided by the bank
Why we need bank of bitcoin if we already have bitcoin wallet. When we having bitcoin wallet, its like we having bank account and we can directly make transaction with others. I am prefer keeping my bitcoin in my own wallet because bitcoin wallet is secure
Binance is planning worlds first bitcoin decentralized bank which will be operated soon
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 ?
My answer is simple. No! Not that I don't trust you or anything, but my Bitcoin is safer in my wallet than being to your bank. Also I will have the guarantee that when Bitcoin price starts to grow, I am the only one who can benefit from it.
I don't know if Bitcoin Bank has any effect? What is the difference between this and traditional banks? I will definitely not put my bitcoin on your bank. You are a funny scam.
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 ?
Everyone can build a bank into bitcoin. If I am going to build a bank too it will surely save my money and can beat the sving into high. People will surely loves saving in bitcoin because of the assurance that can give than the other.
That was what I was thinking too. How is this much different from what exchanges do? They technically serve as banks, allowing users to make payments and transfer from one form of crypto to another, even fiat. Would a bank give interest on the coins? If so, where would that money come from? There wouldn't be a fractional reserve system now, would there?
Banks and bitcoin don't really add up. The function of bitcoin allows it to stand on its own without needing a bank to hold onto it. The people who use it should be able to keep it safely for themselves.
I think the reason why Bitcoin is on trend right now and the reason why it is being patronized and supported by many is because of its nature when it comes to financial matters. Meaning, Bitcoin is different from what the traditional bank and current system has to offer. And by that, I think that building a bank for Bitcoin may not become successful. People nowadays believe in the decentralized system of financial matters in which they have the control over their money and think for their money on their own. Unlike in the centralized system of bank when it comes to financial matters. One more thing, I think that it would be difficult for the Bitcoin bank to be successful by now because for a bank to be able to become extremely stable and highly trust-worthy, this bank will have to undergo very rough way and rigid manner.
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