Topic: Do you agree with idea "Bitcoin bank" ? - page 123. (Read 142276 times)
This is a great idea. Of course I was very happy to hear this information. I can get the services that will make me able to save bitcoin. but there should be a institutions arranging to be able make this reliable service Bitcoin BANK.
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.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
The real bitcoin bank are my wallet and i never think if there are any ideas for making a bitcoin bank in this time, i just believe if that is nver be happened and caused by the anonymity and decentralized are already enough for blocking the ideas for making a bank for bitcoin. and believe me the bank are always using the centralized system. So, i would like to find out the percentage of user who agreed with this idea.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
There's already a Bitcoin bank, it's your Bitcoin wallet. There's no point in trusting a bank company to store your Bitcoins. We have all the necessary stuffs to secure our Bitcoins. These "bitcoin banks" would just most probably run away after getting a lot of Bitcoins. I don't trust them.
There's nothing that a bitcoin bank can do that we can't do by ourselves. These Bitcoin banks will be using Blockchain and we can directly access Blockchain in our browsers, no need to use another service just to access something we already can.
There's nothing that a bitcoin bank can do that we can't do by ourselves. These Bitcoin banks will be using Blockchain and we can directly access Blockchain in our browsers, no need to use another service just to access something we already can.
Nope, i already proved that fractional reserve is impossible with bitcoin. You cant have FR without a central bank,
of course it isn't. it certainly is possible with a bitcoin bank. like any other institution you're giving up the rights to control over your money the moment you deposit. that's how the exchanges works now. you just hope they come good on your entry in their database when you try to withdraw.
That is not a FR what you are describing but a "cash/liquidity shortage". There is a difference:
Liquidity shortage = Bob deposits 100$, banks lends out his 100$, Bob wants to withdraw, bank doesnt have 100$ available to withdraw (100$ in circulation)
Fractional reserve = Bob deposits 100$, bank lends out 100$,Bob wants to withdraw, bank borrow 100$ from central bank, created out of thin air to repay him (100$ turns into 200$)
Without a bitcoin central bank printing coins to inflate the supply matched to bank lending, this is impossible, and the actual "bitcoin bank" is no more than a ponzi scheme.
But fractional banking by definition is technically not possible.
This just another another form of gimmickry to exploit the community and to create profit for themselves. Of course some of these "Bitcoin banks" will go bust if there will be several of these set up like how many exchanges have gone bust.
Also please point out who these people are that are starting to talk about Bitcoin banks. Are they Legendary users in Bitcointalk? I wonder what kind of business model they will be using. If the Lightning Network goes online and is successful there would be no need for a "Bitcoin bank".
I agree, it looks like another scheme to siphon bitcoins which they can control,spend to earn. As what I said before,it destroy the very essence why a bitcoin is created.Its decentralized and looks like we eliminate the "bank" as every wallet can be considered one.
What is a bitcoin bank?
An exchange?
Actually every wallet is a bank, the all system is a bank...
nope i think bitcoin wallet had differences with the bank, if you keep bitcoin wallet nobody can control your bitcoin and you'll be safe, but if you keep in the bank bitcoin, bitcoin you will be in control by a third party or the bank itself ?An exchange?
Actually every wallet is a bank, the all system is a bank...
A bank can not work with lending out money to other users so the bank has to make his business from investing into stuff and we are not at the point yet where you can easily invest in
1) real estate
2) the stock market
The morgage market is also not an option.
So how does the bank make its money?
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.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
So, i would like to find out the percentage of user who agreed with this idea.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
the idea of a bitcoin bank is indeed stupid but also at the same time it is a useful thing too. for example if you consider services like coinbase they are very similar to a bank and they are too useful for beginners to start with bitcoin by purchasing bitcoin and holding it in the same easy place.
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.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
So, i would like to find out the percentage of user who agreed with this idea.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
This just another another form of gimmickry to exploit the community and to create profit for themselves. Of course some of these "Bitcoin banks" will go bust if there will be several of these set up like how many exchanges have gone bust.
Also please point out who these people are that are starting to talk about Bitcoin banks. Are they Legendary users in Bitcointalk? I wonder what kind of business model they will be using. If the Lightning Network goes online and is successful there would be no need for a "Bitcoin bank".
Nope, i already proved that fractional reserve is impossible with bitcoin. You cant have FR without a central bank,
of course it isn't. it certainly is possible with a bitcoin bank. like any other institution you're giving up the rights to control over your money the moment you deposit. that's how the exchanges works now. you just hope they come good on your entry in their database when you try to withdraw.
That is not a FR what you are describing but a "cash/liquidity shortage". There is a difference:
Liquidity shortage = Bob deposits 100$, banks lends out his 100$, Bob wants to withdraw, bank doesnt have 100$ available to withdraw (100$ in circulation)
Fractional reserve = Bob deposits 100$, bank lends out 100$,Bob wants to withdraw, bank borrow 100$ from central bank, created out of thin air to repay him (100$ turns into 200$)
Without a bitcoin central bank printing coins to inflate the supply matched to bank lending, this is impossible, and the actual "bitcoin bank" is no more than a ponzi scheme.
But fractional banking by definition is technically not possible.
What is a bitcoin bank?
An exchange?
Actually every wallet is a bank, the all system is a bank...
nope i think bitcoin wallet had differences with the bank, if you keep bitcoin wallet nobody can control your bitcoin and you'll be safe, but if you keep in the bank bitcoin, bitcoin you will be in control by a third party or the bank itself ?An exchange?
Actually every wallet is a bank, the all system is a bank...
Agree or not, there is a market demand for bitcoin banks like CoinBase to store coins or HaoBTC to get interest on coins.
I think naming bitcoin in one word with bank doesnt work...a bank controls YOUR wealth and makes money with YOUR wealth and you are neiter annonymous or safe from unawished people who look into your bank.
So if you would wanna make a bank i would make it so people can see what happens with their money (where it is being invested in etc) and it should be mainly benefitial to the account owner.
bnktothefuture for example lets people invest into fin-tech projects and succesful established businesses through their platform.
So please tell me what your bank would do if you would have one.
What would the purpose of the bank be if you can be your own bank?
So if you would wanna make a bank i would make it so people can see what happens with their money (where it is being invested in etc) and it should be mainly benefitial to the account owner.
bnktothefuture for example lets people invest into fin-tech projects and succesful established businesses through their platform.
So please tell me what your bank would do if you would have one.
What would the purpose of the bank be if you can be your own bank?
Nope, i already proved that fractional reserve is impossible with bitcoin. You cant have FR without a central bank,
of course it isn't. it certainly is possible with a bitcoin bank. like any other institution you're giving up the rights to control over your money the moment you deposit. that's how the exchanges works now. you just hope they come good on your entry in their database when you try to withdraw.
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.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
I would personally say that while there is no need for a Bitcoin bank in an optimal Bitcoin economy, there might be a want for one stemming from a group of users. It isn't a terrible idea, so long as they respect their depositors' funds and don't try to do some fractional reserve lending which would destroy the concept of a capped 21m Bitcoin. So, i would like to find out the percentage of user who agreed with this idea.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
p.s. we don't talk about bitcoin debit card.
If people have the need of someone stealing from they, no problem.
But I'll always avoid banks and credit cards, that's not why we are here...
But I'll always avoid banks and credit cards, that's not why we are here...
No I dont agree, but I think it will be inevitable as people are too stupid to be responsible with their money , so they will need a 3rd party to hold them for them.
I think bitcoin bank is not just a place to store bitcoin but can be more than that, if you want to grow while storing bitcoin bitcoin bank therefore will work for this, I think bitcoin bank has its advantages and disadvantagesYep, and we can reach a compromize with banks, so they wont start banning bitcoin, but actually become allies.
A strange alliance, but it's totally possible.
I think bitcoin bank is not just a place to store bitcoin but can be more than that, if you want to grow while storing bitcoin bitcoin bank therefore will work for this,
that sounds like fractional reserve which doesn't do bitcoin or anyone else any good. it starts the cycle all over again.
Nope, i already proved that fractional reserve is impossible with bitcoin. You cant have FR without a central bank,
I think bitcoin bank is not just a place to store bitcoin but can be more than that, if you want to grow while storing bitcoin bitcoin bank therefore will work for this,
that sounds like fractional reserve which doesn't do bitcoin or anyone else any good. no one's giving you interest unless they're lending out your money. it starts the cycle all over again. it's probably happening already with plenty of exchanges but it's bad news all the same.
No I dont agree, but I think it will be inevitable as people are too stupid to be responsible with their money , so they will need a 3rd party to hold them for them.
I think bitcoin bank is not just a place to store bitcoin but can be more than that, if you want to grow while storing bitcoin bitcoin bank therefore will work for this, I think bitcoin bank has its advantages and disadvantages 
There has already been a private bitcoin bank. It is a china based company. So what you did is that you can deposit your money into this bank and it will grow interest. It is very little like 1% per year and if you want higher rate, you can do fix deposit for a few months and the % varies. The owner will take your money to buy more hash equipment to hash for more btc.
it's definitely not for me, but I think it's inevitable for the majority of users eventually. people don't want that much control/risk. they want to park their money and not have to worry about it.
I dunno how it would ever work though as most people are very slack with their login details and no 'bank' is gonna compensate them for that.
I dunno how it would ever work though as most people are very slack with their login details and no 'bank' is gonna compensate them for that.
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