Do you agree with idea "Bitcoin bank" ? - page 32.

Proton2233

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Quote from: Lyancy001 on July 19, 2017, 11:53:37 PM

I hope the government will create a bitcoin bank, and there would be insurances that if our Bitcoin Grin

is lost in their hands, they will still give us back our Bitcoin. Grin

As soon as the government will have access to bitcoin accounts it will no longer be bitcoin. It will become ordinary money. For me this is not acceptable. If you are afraid of what your bitcoins are stolen you have to do to take care of their protection. Most break-ins occur through the fault of the users. My opinion is bitcoin the Bank is required. The more state.

Fatanut

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Quote from: Lyancy001 on July 19, 2017, 11:53:37 PM

I hope the government will create a bitcoin bank, and there would be insurances that if our Bitcoin Grin

is lost in their hands, they will still give us back our Bitcoin. Grin

I certainly doubt that will happen. The scenario that we currently have with the banks is that if your money gets lost because of them, then they are refunding your money. In some countries, when someone hacked you or when you get scammed by someone or just some "theft" stuff has happened, they are refunding your money as well. But the only reason why they do that is because they have unlimited supply of paper money. Yup, unlimited, they are just printing out all the needed paper money and then that's it. Remember, paper money is nothing but paper that people believe it has value.

Bitcoin, on the other hand, once lost is lost. Let's say that the government's very own bitcoin bank gets hacked, they can't do their magic of making more money. Bitcoin is different. They can't just mine instantly these coins and refund their people.

Lyancy001

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I hope the government will create a bitcoin bank, and there would be insurances that if our Bitcoin Grin

is lost in their hands, they will still give us back our Bitcoin. Grin

smileee

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Quote from: bitbunnny on October 18, 2016, 12:42:14 PM

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.

Not. If the Bitcoin bank appears, the Bitcoin identity will disappear. If we wish to trade money through banks as before, we do not use Bitcoin. Bitcoin banking is a bad idea.

User365

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physics, mathematics and engineering

I can't vote because I am not sure what you mean.

Option 1:
You mean basically a normal bank which creates f.e. Currency001 which is backed by bitcoin instead of gold. Basically a fiat backed by bitcoin.

For this a definitally NO !! It would destroy the whole idea around BTC

Option 2:
Some organisations where you send your btc too which grant you a interest. They would make some money with lendi g out your coi s or investing in stuff. Basically a fond.

This idea is stupid but I don't mind if someone starts a business like that. It could be called bank too thats why I am not sure about your question.

How you sign uo and how you get verified has nothing to do with the ideology of the organisation in question.

Lalafell

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Quote from: amacar2 on October 18, 2016, 12:19:32 PM

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.

I think bitcoin bank is a good idea. However, if there’s a bank who totally accepts bitcoin as a deposit of their costumer I think they can’t handle it well because bitcoin doesn’t have exact value in market. I hope in the near future there will be a bank who allows bitcoin and many people will save their bitcoin to that bank.

Fatanut

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Quote from: An1ks on July 14, 2017, 02:38:30 PM

It will happen, first bank will occur, and then everyone will try to hack it, to prove, that actual banking system is much better then Bitcoin.

Hack, how? Hackers can't even crack a single address, let alone a whole banking system. We really have no idea how a bitcoin bank will look like. It can be cloud based, it can have a physical place but one thing is for sure, they will assure that the private keys will not just be stolen from them (assuming that they are legit).

But it's also possible that the government will set a bad example by making a bitcoin bank. And then making it known to the public that they were hacked even though they weren't. So that it will serve an announcement to the public that bitcoin banks aren't safe. Although a man who knows about things will know that it's just FUD.

An1ks

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It will happen, first bank will occur, and then everyone will try to hack it, to prove, that actual banking system is much better then Bitcoin.

mornabo

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Quote from: Nicol3 on July 13, 2017, 10:38:36 AM

Actually it might not be a bad idea to have a bitcoin bank where you could store safely your bitcoin and keep them a few years or hand it down to one of your family members when you get old.

I think it will not be safe, because you save and entrust your bitcoin into the hands of a third party. Especially if the bank is not owned by the government would be very risky when you save bitcoin in it. Very likely they will be a scam So be careful dude

Juangutti

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Well, if they are generating an interest that is stable, sure. I mean, the reason why a lot of people don't see bitcoin as a good investment is because it doesn't generate interest, and there aren't really any regulated bitcoin banks.

However, if you are storing your bitcoins at a bitcoin bank without interest then what's the point? Just hold onto your private key and you'll be fine.

shimbark123

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Who wouldn't? We, people who are using bitcoin MUST have our bank. And I think it is ideal to have a bank of bitcoin. And I think I've heard that a bank on a country started to accept bitcoin as money. Wow we are close to the future of bitcoin. The cryptocurrency world is close.

carlisle1

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Quote from: FlightyPouch on July 13, 2017, 06:58:20 PM

Quote from: izza123 on July 13, 2017, 06:39:25 PM

If by bank you mean a centralized entity to control bitcoin, of course not. If by bank you mean a financial institution to hold customers BTC and speculatively invest it in exchange for interest then i see no problem.

That is right, we don't need an entity to control or keep these digital currency for us, the reason it has a feature of decentralized means we don't need someone but just ourselves.

Why do we need banks if we can save our bitcoin ourselves? There are a lot of wallets that will ensure the safety of our coins, we ourselves are enough to make our coins safe.

exactly and that's the purpose of this project, I think if many people understand why bitcoin was created they will start to jump and use this chain
we just need them to understand and help them to believe that there's no need for the bank anymore its just need a knowledge how to keep your
own bitcoin inside your secure wallet.

FlightyPouch

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Quote from: izza123 on July 13, 2017, 06:39:25 PM

If by bank you mean a centralized entity to control bitcoin, of course not. If by bank you mean a financial institution to hold customers BTC and speculatively invest it in exchange for interest then i see no problem.

That is right, we don't need an entity to control or keep these digital currency for us, the reason it has a feature of decentralized means we don't need someone but just ourselves.

Why do we need banks if we can save our bitcoin ourselves? There are a lot of wallets that will ensure the safety of our coins, we ourselves are enough to make our coins safe.

Eclipse26

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Activity: 658

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bullsvsbears.io

Quote from: pedrog on October 18, 2016, 12:00:14 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.

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...

Yes bitcoin bank was not a good idea. Because the philosophy of bitcoin is decentralized while in the bank was to centralize things. So if this could be happen bitcoin will be senseless. As you have mention like xapo and coinbase they can used it as a bank. You just need to study on how are you going to used it. Bitcoin bank concept is also one of the worst idea that i have read because it it the opposite of what bitcoin should be.

izza123

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If by bank you mean a centralized entity to control bitcoin, of course not. If by bank you mean a financial institution to hold customers BTC and speculatively invest it in exchange for interest then i see no problem.

MCMXCVI

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Bitcoin system operates independently from central bank, this is the basis. if someone create special bank for this, it will have a connection with central bank. its senselessness.
I do not agree with having a bank control bitcoin, and it would be very difficult to do that,becouse of it's distinguishing signs, so there is simple reason

Blackwhite69

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This is a good idea because this makes it easy for us to transact and managing our finances Wink

andron8383

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Bitcoin banks are nothing like a regular bank that is superviced by governments. That's why people shouldn't take the term 'Bitcoin bank' too serious. It could be an exchange, online wallet service and you name it. It won't be anything official. It will be a centralized incentive just like all other things in the world. So tell me, why would you give up the decentralized aspect of Bitcoin? For the poor interest rate? Doesn't make sense.

Rinder

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I dont like anyway the concept of bitcoin bank, because let my coin into a third place to they use the way they wanna and pay me a fee, i can do those bymyelf, and i do now the risks, bitcoin reached the current stage due to be decentralized, having a bank controlling bitcoin would damage and maybe kill it, banks in the future will provide bitcoin service but i dont now how the people will react over those.

smsohag

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Merit: 10

I think bitcoin bank give us more facility to withdraw and safety. So I agreed that idea.

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