Topic: Do you agree with idea "Bitcoin bank" ? - page 125. (Read 142276 times)
While an official bitcoin bank has not emerged some de facto banks already exist Coinbase, Xapo, etc. and in my opinion a bitcoin bank runs against everything that bitcoin is and should be so I voted no in the poll.
If a bitcoin bank is supposed to be like a fiat bank where you give your bitcoins to someone who knows everything about you as you will not be able to do that without giving your valid information, then Not at all, because then there would be no difference between fiat and bitcoin.
I'm not sure what to think. When someone mentions banks I think on all the bad stuff. Could Bitcoin bank be different and do we maybe already have some services that act like banks and provide some similar things like banks? Like exchangers, wallets etc.? It's something to think about.
- coinbase, xapo like wallets are just like bitcoin banks (centralized one) having all acccess to your bitcoins.
- paper wallets, electrum , hardware wallets can still be considered as real bitcoin wallet.
So we already have existing bitcoin banks and also lots of cases of account getting locked, frozen by them just like in other banks and who like to get this situation while using bitcoin, so no we don't need any bitcoin banks.
- paper wallets, electrum , hardware wallets can still be considered as real bitcoin wallet.
So we already have existing bitcoin banks and also lots of cases of account getting locked, frozen by them just like in other banks and who like to get this situation while using bitcoin, so no we don't need any bitcoin banks.
exchanges and payment services are already deemed as banks
even escrows and other services that use multisig are treated as temporary banks.
the problem is that if you put your funds into other peoples private keys where they have sole access to the keys and you left with having to make "requests" to get funds out. you are at the reliance of that service.
(the coins no longer belong to you. only a IOU balance they allow you to have with a pretence that its convertible)
ofcourse full deposit exchanges and services using multisig have a place at the fringes of bitcoin. but we should never become reliant on such things. or tweak bitcoin to only function in such a manner.
even escrows and other services that use multisig are treated as temporary banks.
the problem is that if you put your funds into other peoples private keys where they have sole access to the keys and you left with having to make "requests" to get funds out. you are at the reliance of that service.
(the coins no longer belong to you. only a IOU balance they allow you to have with a pretence that its convertible)
ofcourse full deposit exchanges and services using multisig have a place at the fringes of bitcoin. but we should never become reliant on such things. or tweak bitcoin to only function in such a manner.
I think that we don't need to discard this idea at start. Of course that Bitcoin users have negative opinion when banks are mentioned because they probably think on traditional banking system that Bitcoin is total oposite to. I feel that too. But for Bitcoin bank we can use the best banking features and discard all the worst. I'm not saying that I'm 100% for Bitcoin bank but I'd like to say that this idea maybe could be more developed and adjusted to the Bitcoin.
Honestly, i think this idea is stupid and worst idea that i've seen in my life. What do you think?
I believe exactly the same this one of the worst ideas I've ever heard,a "Bitcoin bank" has nothing to offer and it is against Bitcoin philosophy the few who agree with this idea and are interested in using a bank like this to keep their coins are probably newbies or people who never understood the concept of Bitcoin.
I completely disagree the idea of bitcoin bank i think we don't need it as bitcoin is meant to remain decentralized always and the idea of bank is to centralize bitcoin. Even some regulated web wallets like coinbase, xapo practice same restrictions like normal banks with lots of account lock down and KYC policies which is completely against what bitcoin was developed for.
Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Same sentiments here. What "bitcoin bank" really do? We will deposits our bitcoin to him?
If that happens,the real essence of bitcoin will be lost I think. People wants to hold or store their bitcoin,where they can spend anytime. 
Why would I use bank for my bitcoins? I also think that this idea is stupid, and I don`t know how banks are planning to get into bitcoin community. That will be tricky for them, what can they offer to me (or us) to open bitcoin wallet in some bank, pay monthly account maintenance, what can they do for me, that I can`t do myself?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some bank?
Only one thing fall on my mind and that is high saving rate. I opened some saving calculator and for example best bank in my country offer if I save in my currency 1 000 000 dinars for one year (that is 9 000 dollars) I can earn 90 000 dinars (850 dollars).
If I save in foreign currency, for example dollars, 10 000 dollars for one year will bring me 396 dollars. Which is joke, so how big interest they can offer for bitcoin to I be attracted to save my bitcoins in some 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.
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.
Xapo, Coinbase and Circle, they are all "bitcoin banks", if someone doesn't like them, they don't have to use them...
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 OR any centralized service which only ask name and email address.
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 OR any centralized service which only ask name and email address.
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