Do you agree with idea "Bitcoin bank" ? - page 102.

Aamir1

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Quote from: romero121 on November 22, 2016, 08:16:09 AM

Bitcoin banking idea too is a good initiation for the spreading of bitcoin. These days most of the public depend completely upon banks for their financial needs. When bitcoin is distributed through banks people who like digital growth start using bitcoin. But a drawback happening with it is that someone starts having control over it.

Though people depend on banks mostly these days but that is just because they have no other option, and if they are given a chance to use another currency having the same conditions and situations then why would they like to use it at the first place? Bitcoin is good an independent, if it gets in the hands of an authority it wont be what it is now.

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Bitcoin banking idea too is a good initiation for the spreading of bitcoin. These days most of the public depend completely upon banks for their financial needs. When bitcoin is distributed through banks people who like digital growth start using bitcoin. But a drawback happening with it is that someone starts having control over it.

Westfiled

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Quote from: 1Referee on November 22, 2016, 06:09:00 AM

Quote from: btccashacc on November 22, 2016, 04:27:11 AM

Just don't get it with those who support bitcoin bank systems.
Why do you have to use "bitcoin bank" while you can transaction with fiat ( in this case : internet banking, credit card or debit card) and you don't have to wait for confirmation like bitcoin, also they can freeze or lock your money anytime, simply they controll your money, you can't have privacy over your transaction.
Better to have your money on your own pocket, just a friendly advise.

People liking the idea of a so called Bitcoin bank are only having such ways of thinking because of the potential of earning a few sloppy percentages of interest annually. Some even state that they think it will increase the adoption rate of Bitcoin, but that's pure bs. People are only saying that for their own financial gain (interest over their coins).

Another point is that they take the term Bitcoin bank way too serious and compare it to how fiat banks are working. That's just another bit of bs. Whatever entity you allow to take care of your coins, you'll be nothing more than a slave of their system. You fully depend on them to take care of your coins properly and store them securely offline. But we all have seen with various exchanges, when things start to itch on the operator's side, hell beaks loose as he/she will run with the coins and blame hackers for the theft.

With the bitcoin bank, you can buy borrow to buy things. that is very useful to buy big items such as house or cars.

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Quote from: btccashacc on November 22, 2016, 04:27:11 AM

Just don't get it with those who support bitcoin bank systems.
Why do you have to use "bitcoin bank" while you can transaction with fiat ( in this case : internet banking, credit card or debit card) and you don't have to wait for confirmation like bitcoin, also they can freeze or lock your money anytime, simply they controll your money, you can't have privacy over your transaction.
Better to have your money on your own pocket, just a friendly advise.

People liking the idea of a so called Bitcoin bank are only having such ways of thinking because of the potential of earning a few sloppy percentages of interest annually. Some even state that they think it will increase the adoption rate of Bitcoin, but that's pure bs. People are only saying that for their own financial gain (interest over their coins).

Another point is that they take the term Bitcoin bank way too serious and compare it to how fiat banks are working. That's just another bit of bs. Whatever entity you allow to take care of your coins, you'll be nothing more than a slave of their system. You fully depend on them to take care of your coins properly and store them securely offline. But we all have seen with various exchanges, when things start to itch on the operator's side, hell beaks loose as he/she will run with the coins and blame hackers for the theft.

btccashacc

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Quote from: Senor.Bla on November 22, 2016, 04:14:47 AM

Quote from: uname on November 22, 2016, 03:56:17 AM

Quote from: Andromaque on November 21, 2016, 02:49:56 PM

No, I do not agree with it. Even I find it useless. The purpose of Bitcoin is to be your own bank.

I think something useful would be used, maybe you do not like it, does not mean others do not like? for example i. I want the bank system also exists in bitcoin. The only variation is not required to use, I think it's not a problem

then maybe tell us what do you want this bank to do for you? what do they offer that you can not do yourself? what is it that you are willing to pay money for? because i do not see many possible benefits.

Just don't get it with those who support bitcoin bank systems.
Why do you have to use "bitcoin bank" while you can transaction with fiat ( in this case : internet banking, credit card or debit card) and you don't have to wait for confirmation like bitcoin, also they can freeze or lock your money anytime, simply they controll your money, you can't have privacy over your transaction.
Better to have your money on your own pocket, just a friendly advise.

Senor.Bla

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Quote from: uname on November 22, 2016, 03:56:17 AM

Quote from: Andromaque on November 21, 2016, 02:49:56 PM

No, I do not agree with it. Even I find it useless. The purpose of Bitcoin is to be your own bank.

I think something useful would be used, maybe you do not like it, does not mean others do not like? for example i. I want the bank system also exists in bitcoin. The only variation is not required to use, I think it's not a problem

then maybe tell us what do you want this bank to do for you? what do they offer that you can not do yourself? what is it that you are willing to pay money for? because i do not see many possible benefits.

uname

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Quote from: Andromaque on November 21, 2016, 02:49:56 PM

No, I do not agree with it. Even I find it useless. The purpose of Bitcoin is to be your own bank.

I think something useful would be used, maybe you do not like it, does not mean others do not like? for example i. I want the bank system also exists in bitcoin. The only variation is not required to use, I think it's not a problem

Gyfts

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Not a fan. You're heading down another path of Mt. Gox with centralization. I'm not so big about exchanges either. Way too many things can go wrong storing so much Bitcoin in one place, as we've learned over and over again.

bolenath

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Absolutely not!

We do not want to centralize our decentralized assets... :/
Banks are scams anyway. They pay you interest with your own money until the bubble breaks..

profitgenerator212

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Yes, but only if the funds are kept in a multisignature way. So that instead of running fractional reserves, the bank does again its traditional duty of protecting your money.

mastica

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Crypto banks makes no sense at all, since we do have freedom, why would we return to banks control and restrictions and show off, since we can keep hiden and doing our stuffs? I dont have any problems saying i have bitcoin but i do like to spend and keep in control.

AikoniA

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i do not agree with idea about bitcoin bank it will not work i guess
i think not all bank users can use bitcoin especially old people who's difficult to operate it
regular bank is the best way for all people although bitcoin is the best crypto currency

Andromaque

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No, I do not agree with it. Even I find it useless. The purpose of Bitcoin is to be your own bank.

groll

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Quote from: michellee on November 21, 2016, 03:01:09 AM

Quote from: requester on November 21, 2016, 02:50:05 AM

No i don't agree with bitcoin bank because it's anonymous and let us keep it anonymous. When 3rd party will come into service there will more possibility of scam and ponzi service so lets give a blow to bitcoin bank idea. Let's us be our own bank and we can control our money well.

actually i don't know what will happen if bitcoin bank is really exist because for my simple think is whats the point for bitcoin bank? is there any benefit that we can get from the bitcoin bank itself rather than we can make our transaction anonymous like before? and i am agree with requester said as lets we control our money and trying to give attention for our money/bitcoin.

Definitely not!once the bitcoin bank appears, what will happen in our digital wallet?are they going to be deleted and all bitcoin users are required to open an account in bitcoin bank? Well, i think that very invonvenient. I am using bitcoins because i dont need to go to bNk and fall in line just to deposit and withdraw my earnings. If bitcoin bank will rise, what us the sense of being digital currency?

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Quote from: requester on November 21, 2016, 02:50:05 AM

No i don't agree with bitcoin bank because it's anonymous and let us keep it anonymous. When 3rd party will come into service there will more possibility of scam and ponzi service so lets give a blow to bitcoin bank idea. Let's us be our own bank and we can control our money well.

Yes I agree with your oppinion, if bitcoin bank come, I sure too many terms and conditions. Of course it makes no difference if we open a bank account, it will be a lot of data that is required to open a wallet to send and receive bitcoin.

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Quote from: requester on November 21, 2016, 02:50:05 AM

No i don't agree with bitcoin bank because it's anonymous and let us keep it anonymous. When 3rd party will come into service there will more possibility of scam and ponzi service so lets give a blow to bitcoin bank idea. Let's us be our own bank and we can control our money well.

actually i don't know what will happen if bitcoin bank is really exist because for my simple think is whats the point for bitcoin bank? is there any benefit that we can get from the bitcoin bank itself rather than we can make our transaction anonymous like before? and i am agree with requester said as lets we control our money and trying to give attention for our money/bitcoin.

requester

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No i don't agree with bitcoin bank because it's anonymous and let us keep it anonymous. When 3rd party will come into service there will more possibility of scam and ponzi service so lets give a blow to bitcoin bank idea. Let's us be our own bank and we can control our money well.

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Quote from: twinkletoes007 on November 18, 2016, 07:00:54 PM

Doesnt matter if you agree. They are coming. It will be a process. No fractional reserves..

It is really coming after the news that Switzerland Central Bank plans to have crypto bank. https://bitcointalksearch.org/topic/switzerland-bitcoin-boom-1685326
So most of us are disagree with this type of concept but the game will change now as a first world country is going to accept bitcoin through their bank.

if it is a fact then it is really a good news about the future of bitcoin, i think then Switzerland has to accept bitcoin as legal currency, i think bitcoin will become more popular if any country take the step and consider bitcoin as legal currency.

And take that is Central Bank of Switzerland then for sure they will give big contribution in the bitcoin industry. This is a good move that a well known and rich country is the one who voluntarily say that they are now planning to accept bitcoins. So if other countries will see this and tries to adopt it also then bitcoin is no more anonymity.

Big country adopt then small countries will follow, it will be the start, this country sees the opportunity to grow their market with bitcoin and to think this is bank, it is already ensured that they have made a study with bitcoin to come up with a very good decision.

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Quote from: thejaytiesto on November 20, 2016, 02:25:29 PM

Quote from: twinkletoes007 on November 18, 2016, 07:00:54 PM

Doesnt matter if you agree. They are coming. It will be a process. No fractional reserves..

Well fractional reserve banking within bitcoin is impossible thanks to the limited amount of supply, in theory... because I remember accusations to certain exchanges that where supposedly running fractional reserve type of activities. I don't know how is this possible, but actually they where doing it. I think it's as simple as using the bitcoins that are deposited there to do investments in your back... that is why I can't never trust anything that isn't myself holding the private keys.

it is only possible if you do not hold your own keys so to speak. imagine this. you give me 5 bitcoins and i write down on my paper, that you have a found of 5 bitcoins. i have two other customer which also deposited 5 bitcoins each. i can now do with the 5 bitcoins what i want as long as you do not want them back. also i do not need them i you want to transfer your bitcoin to one of my other customers. but i i take the 15 bitcoin and invest them and lose them, then we have a problem since i would have no chance of paying you back.

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Quote from: twinkletoes007 on November 18, 2016, 07:00:54 PM

Doesnt matter if you agree. They are coming. It will be a process. No fractional reserves..

Well fractional reserve banking within bitcoin is impossible thanks to the limited amount of supply, in theory... because I remember accusations to certain exchanges that where supposedly running fractional reserve type of activities. I don't know how is this possible, but actually they where doing it. I think it's as simple as using the bitcoins that are deposited there to do investments in your back... that is why I can't never trust anything that isn't myself holding the private keys.

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