Do you agree with idea "Bitcoin bank" ? - page 109.

Qartersa

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Quote from: Hugroll on November 02, 2016, 08:10:59 PM

Quote from: ABCbits on October 18, 2016, 11:51:47 AM

Recently, i often see discussion about Bitcoin Bank. More and more people come here and ask about bitcoin bank & surprisingly i see few user agree with this idea.
So, i would like to find out the percentage of user who agreed with this idea.

In my opinion, I dont really believe that bitcoin banks are a good idea. The main attribute of bitcoin is that it is decentralized, so creating banks for it would be counterintuitive.

However I do believe that making banks for bitcoin would attract a wider range of consumers to bitcoin that previosly did not want to join

I agree with your second point. Probably having bitcoin banks would improve it's usage and encourage more people to join the revolution. Hopefully this would be the case.

Hugroll

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Quote from: ABCbits on October 18, 2016, 11:51:47 AM

Recently, i often see discussion about Bitcoin Bank. More and more people come here and ask about bitcoin bank & surprisingly i see few user agree with this idea.
So, i would like to find out the percentage of user who agreed with this idea.

In my opinion, I dont really believe that bitcoin banks are a good idea. The main attribute of bitcoin is that it is decentralized, so creating banks for it would be counterintuitive.

However I do believe that making banks for bitcoin would attract a wider range of consumers to bitcoin that previosly did not want to join

Harlot

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Quote from: MONKEYJUNK on November 02, 2016, 12:50:51 PM

Quote from: Aamir1 on November 02, 2016, 12:13:35 PM

Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

They would probably have control on the coins we put their if they really starts a service like this because without that they wont get anything for doing this, governments or authorities mostly do the things that can be of their profit but not for the sake of people.

The best way is renting a safe lock and putting your paper wallet there, so no one will have access to your money and at the same time will be safe because it's on a bank, well everything is about how much you have, I prefer dig a hole in my garden and bury the paper wallet there.

Your definition of bitcoin bank for some kind of "pool" must be mistaken as a pool is often used in " mutual funds" in which a fund manager handles the pool of money in which they invest it in money-market instruments, which in the Bitcoin world is other cryptocurrencies. But remember even though it is handles by a professional the chance of losing money is still there.

rizkyhiw

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Quote from: delliaerd on November 02, 2016, 06:54:09 PM

Quote from: DOGE12321 on November 02, 2016, 04:26:07 PM

I swear that this thread has been posted many times ago, even quite recently. Bitcoin cannot be made into a bank. It is decentralised. Bitcoin bank is completely destroying the underlying philosophy that Bitcoin runs with. If this happens then Bitcoin will not be a cryptocurrency, but rather fiat.

If we think in another side we will see that bitcoin bank would not erase decentralization of bitcoin. bank function is ti store money safely. if bitcoin bank function is to safe our money safer than our own wallet, it Will be good. I mean if the bitcoin bank give us guarantee of bitcoin security, if the bitcoin bank hacked they have to bring back our bitcoin to us. If bitcoin bank cannot do that I think bitcoin bank will useless. We already have our own bank so we do not need some thing the same.

of course it's ruin what called decentralized in bitcoin if there is bitcoin bank lol
never agree with this idea , and even i think it's 'dumb' idea?
banks is regulated , and bitcoin not , people called it as a freedom
however this bitcoin banks will never work , everyone know it no matter what the 'function' then.

delliaerd

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Quote from: DOGE12321 on November 02, 2016, 04:26:07 PM

I swear that this thread has been posted many times ago, even quite recently. Bitcoin cannot be made into a bank. It is decentralised. Bitcoin bank is completely destroying the underlying philosophy that Bitcoin runs with. If this happens then Bitcoin will not be a cryptocurrency, but rather fiat.

If we think in another side we will see that bitcoin bank would not erase decentralization of bitcoin. bank function is ti store money safely. if bitcoin bank function is to safe our money safer than our own wallet, it Will be good. I mean if the bitcoin bank give us guarantee of bitcoin security, if the bitcoin bank hacked they have to bring back our bitcoin to us. If bitcoin bank cannot do that I think bitcoin bank will useless. We already have our own bank so we do not need some thing the same.

DOGE12321

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I swear that this thread has been posted many times ago, even quite recently. Bitcoin cannot be made into a bank. It is decentralised. Bitcoin bank is completely destroying the underlying philosophy that Bitcoin runs with. If this happens then Bitcoin will not be a cryptocurrency, but rather fiat.

kanazawa

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This kinda "bank" already exist, I mean, you don't have a "full" platform, but if you create an account on two or three websites you can do minint, use cold wallet, transfer, exchange, use merchant tools, lending, sell, buy, etc...so, there will be like reinventing the wheel. Hail the system already built.

MONKEYJUNK

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Quote from: Aamir1 on November 02, 2016, 12:13:35 PM

Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

They would probably have control on the coins we put their if they really starts a service like this because without that they wont get anything for doing this, governments or authorities mostly do the things that can be of their profit but not for the sake of people.

The best way is renting a safe lock and putting your paper wallet there, so no one will have access to your money and at the same time will be safe because it's on a bank, well everything is about how much you have, I prefer dig a hole in my garden and bury the paper wallet there.

Aamir1

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Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

They would probably have control on the coins we put their if they really starts a service like this because without that they wont get anything for doing this, governments or authorities mostly do the things that can be of their profit but not for the sake of people.

iamTom123

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I also do not agree with the idea of a Bitcoin bank as it is against the very foundation of why we have Bitcoin in the first place. Anyway, we can be seeing many banks in the future to be issuing their own cryptocurrencies too...the question is: Should we patronize cryptos issued by banks?

wxa7115

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Bitcoin is GOD

Quote from: neochiny on October 28, 2016, 06:51:39 PM

Bitcoin and banks are like complete opposites.

Only reason some people are even hoping for a bitcoin bank is probably in the hopes of "insurance", coz banks guarantee up to a certain amount of your deposits. So with all the hacks going on, they're hoping that there's somewhere that could guarantee their money. As for interest and investments by banks, meh. It's all about security and insurance they're really after.

Anyway, I doubt it would work. In so many ways. sigh.

I think you touch an important subject and this is because even though there are insurance of your funds in the banks if even 5% of the people needed to access that insurance then the funds will no longer be enough to cover all the people, so the insurance is nothing but a lie.

Qartersa

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Quote from: pooya87 on November 02, 2016, 01:47:55 AM

Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

this is never going to happen because that would mean centralization and if it even happens slightly everybody would leave bitcoin.

a bitcoin bank is something like current existing services like coinbase which control the coins, private keys and your money and decide whether or not give it back to you.

I don't think Bitcoin banks will be a mandatory thing if ever it would happen. People will still be using their own wallets. Probably Bitcoin banks are just for security purposes or possibly giving Bitcoin more uses in society. Probably, this is what we need so that the world would be able to accept Bitcoins more.

pooya87

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Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

this is never going to happen because that would mean centralization and if it even happens slightly everybody would leave bitcoin.

a bitcoin bank is something like current existing services like coinbase which control the coins, private keys and your money and decide whether or not give it back to you.

stadus

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Hhampuz for Campaign management

Quote from: mogrith on November 01, 2016, 11:05:50 PM

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

I would not like to see that happening, I just want the current original set up of bitcoin as it can give us independence or freedom on how to spend our money. With the intervention of bank, we will no longer be transacting anonymous anymore.

mogrith

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Use Coinbase Account almosanywhere with Shift card

If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)

sonnyacg

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Quote from: Golftech on November 01, 2016, 11:45:46 AM

Quote from: betohell on November 01, 2016, 11:15:19 AM

Quote from: Doamader on November 01, 2016, 11:04:37 AM

I do like to be my own bank and those 1% i can get doing trading, or even at sports betting, i dont see the purpose to risk my coins into a bank and get my money over control of someone else, makes no sense let the freedom to go jail once again.

I think it's up to you. it means that you prefer to decentralization for complete control over you. but of course there are some people who also like to invest and save, they do not think with third parties at risk

this is true in some of us who believes that they can control better with their btc they won't support btc bank but for those who see the possibility
of making it safe in this way they will allow to have a center bank for their btc its about assessment and beliefs.

yes, there are always two different things in the opinion of each person. but in my opinion if there Bitcoin bank in the world, it does not matter. maybe if it happens depends on each individual, whether bitcoin he will save it in the bank or not. it depends on each one.

Qartersa

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Quote from: mrkevio on November 01, 2016, 04:46:46 PM

The problem is that a Bitcoin bank would mean less anonymity which would destroy Bitcoin's real use. Banks don't work anonymously but with your personal data. Anonymity is one of the reasons for which I'm using Bitcoin right now, and that could also lower the price accordingly.

Good point. If there would be a bank that can be regulated by a government, then that government can have the power to compel the banks to give information about their clients. States looking into the accounts of clients would totally destroy the point of Bitcoin. Banks will kill Bitcoin.

MTBTT

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Quote from: Mr.grin on November 01, 2016, 01:33:01 PM

perhaps with bitcoin bank, we are so much easier to redeem bitcoin we have. I think if bitcoin bank has been there, maybe a credit card for bitcoin is also made, so that you can redeem bitcoin do you have in atm which have the logo bitcoin. Well it would be very cool

I think it would be as easy as using an exchange. You can also easily pull into the bank in an instant? I think the function of bitcoin bank not only that ?

mrkevio

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The problem is that a Bitcoin bank would mean less anonymity which would destroy Bitcoin's real use. Banks don't work anonymously but with your personal data. Anonymity is one of the reasons for which I'm using Bitcoin right now, and that could also lower the price accordingly.

Hapucerty

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An idea to be able to deposit your bitcoins for an extended amount of time and get interest for doing so is a good idea but not if it runs for a short time like these investment programs that you see created everyday.
They run off just after they get enough bitcoins banked for themselves.

Topic: Do you agree with idea "Bitcoin bank" ? - page 109. (Read 142276 times)