Do you agree with idea "Bitcoin bank" ? - page 34.

Fatanut

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Quote from: Magkirap on June 28, 2017, 12:57:06 PM

Absolutely no, because if there is bank who totally accept bitcoin [1]I think they can’t handle it well because bitcoin doesn’t have an exact value. In addition to that, the price of bitcoin always changes it might decrease or increase. [2]Some bitcoin users save their bitcoin in online wallet because they know it is safe and secure. However, I hope in the near future there will be a bank who totally accepts bitcoin.

[1] If the banks, which are financial institutions, can't handle bitcoin, then how come there are exchanges up to now? How come there are exchanges that are like goose laying golden eggs because the owner makes good money from the business? Bitcoin's price might go up and down but a bitcoin bank will just act like exchanges.

[2] I think you meant some "dumb" bitcoin users are saving their bitcoin in an online wallet. Online wallets are only for newbies that don't have nothing yet and should focus on learning the concept of bitcoin first. It's where a newbie would put his early satoshis and then at some point he should move them to a more secure wallet like an offline wallet generated from Electrum.

One thing, you can never trust someone on the Internet. Not even online wallet websites.

Prince8

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Could be an excellent way to get people like my father, his friends and less tech savvy people on board of bitcoin..

the process of acquiring btc, downloading a wallet, back up, complex password, cold storage is extremely(to say the least) complicated for tech illiterate people

If i could tell my father that now he could hold his savings in the bank, but in btc, and continue using his debit card im 100% sure he would snap do it

zedsacs

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I don't really know why they would need a such thing they called a "bitcoin bank" if we all know that we have these bitcoin wallets. I mean, if we put a bitcoin bank, the essence of using bitcoin which is using it without showing your identity or anonymously but I think it's not okay with a bank haha so I'n agains about thjs bitcoin banl.

Magkirap

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★Bitvest.io★ Play Plinko or Invest!

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.

Absolutely no, because if there is bank who totally accept bitcoin I think they can’t handle it well because bitcoin doesn’t have an exact value. In addition to that, the price of bitcoin always changes it might decrease or increase. Some bitcoin users save their bitcoin in online wallet because they know it is safe and secure. However, I hope in the near future there will be a bank who totally accepts bitcoin.

Obito

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For me I consider bitcoin wallet as bitcoin bank or I would say I would prefer to use bitcoin wallet because I could easily access and see the progress. I mean wallet is more convinient than bank because as long as you have internet connection you could use it instantly.

Vohoanghiep

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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.

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.

Certainly no Bitcoin bank exists because it goes against the benefits that Bitcoin brings so no one is foolish enough to invest in any Bitcoin bank.

Eminem23

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Quote from: Natalia_Volkova on June 28, 2017, 03:18:53 AM

Why not? Bitkoin quickly develops and captures the world, but for further successful development it requires the bank, which can control the situation.

Why control bitcoin? You yourself say that bitcoin is developing rapidly. And it develops just without control. If there was control, the development of bitcoin would be restrained. And why do we need it? I do not see the need for bitcoin bank

roadbits

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Quote from: stompix on June 26, 2017, 10:12:45 AM

Quote from: wallstone on June 25, 2017, 12:57:51 PM

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.

Indeed, if there is a bank who totally accepts bitcoin I think they can’t handle it well because bitcoin doesn’t have exact value so it will become a problem. However; there are online wallets that can help you to keep your bitcoin safe and secure. Lastly, I guess in the coming future there will be a bank who allows bitcoin as deposit of their client.

The bank will hold your bitcoin. 1.467BTC and not the value of the bitcoin in usd.
You have 1.467BTC, and you will be able to withdraw or use 1.467 BTC no matter if the price is 100 or 1 million.

Online wallets...safe and secure.
Yeah right!!!
https://bitcointalksearch.org/topic/list-of-major-bitcoin-heists-thefts-hacks-scams-and-losses-576337

What you said it's correct the banks will hold our bitcoins in the form of bitcoins only not in the form of USD. And if we want to withdraw our bitcoins we can withdraw our full bitcoins there is no deduction will be done by banks. But the only thing is the govt will take tax from us. They will put one margin if we cross that margin we have to pay tax to govt. Making bitcoin bank is easy but handling it is very tough.

Natalia_Volkova

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Why not? Bitkoin quickly develops and captures the world, but for further successful development it requires the bank, which can control the situation.

Qunenin

hero member

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There is no such animal for an intangible currency by the very definition of bank in economics, lol. The very thought that someone would conceive this and then put it out there shows the absolute lack of understanding about the economic world that these users have. No wonder the price fluctuations are so dramatic, they are being driven by an entire herd of self-deluded experts that apparently do not have a local law library in their town.

stompix

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Blackjack.fun

Quote from: wallstone on June 25, 2017, 12:57:51 PM

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.

Indeed, if there is a bank who totally accepts bitcoin I think they can’t handle it well because bitcoin doesn’t have exact value so it will become a problem. However; there are online wallets that can help you to keep your bitcoin safe and secure. Lastly, I guess in the coming future there will be a bank who allows bitcoin as deposit of their client.

The bank will hold your bitcoin. 1.467BTC and not the value of the bitcoin in usd.
You have 1.467BTC and you will be able to withdraw or use 1.467 BTC no matter if the price is 100 or 1 million.

Online wallets...safe and secure.
Yeah right!!!
https://bitcointalksearch.org/topic/list-of-major-bitcoin-heists-thefts-hacks-scams-and-losses-576337

wallstone

sr. member

Activity: 532

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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.

Indeed, if there is a bank who totally accepts bitcoin I think they can’t handle it well because bitcoin doesn’t have exact value so it will become a problem. However; there are online wallets that can help you to keep your bitcoin safe and secure. Lastly, I guess in the coming future there will be a bank who allows bitcoin as deposit of their client.

Prodigan786

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What do you mean bitcoin bank . It is completely opposite of original cause or reason of bitcoin bitcoin is not controlled by any organisation or any institutions or any group of people.so I don't agree with this point.

btctousd81

sr. member

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offcourse if i am getting interest over stored bitcoins in the banks and funds are insured then why not ?

JimmieA

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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.

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.

I think you were right,. Think about when setting up btc bank, btc will be focused and losing it's decentralization .. btc transactions will also be public with user info, if so anonymity of btc will like it used to be Huh

In general I do not like this idea. Ah, especially when btc bank established btc will be managed by the government ....

BitHodler

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Quote from: stompix on June 25, 2017, 08:49:48 AM

Quote

I guess the best way if you want to save your bitcoin is put it on online wallet.

That's the best way to get rid of all your bitcoins while asleep.

But, but..... Some rookies have the perfect solution to tackle this problem ~ they simply split all their holdings over various online wallet services, so if one goes down, they will still have the others. Cheesy

It surprises me that till this day, a lot people still don't value proper security over convenience. I guess the only way for them to learn from this is when things go wrong, and they end up in the hole.

stompix

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Blackjack.fun

Quote from: chichan13 on June 23, 2017, 08:47:58 AM

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.

In fact, bitcoin bank is a nice idea. However, if there’s a bank who accepts bitcoin as deposit I think they can’t handle it because bitcoin doesn’t have exact value so I think it will become the problem. Furthermore, there’s no bank who accepts bitcoin but I think in the near future some bank will accept it. I guess the best way if you want to save your bitcoin is put it on online wallet.

1 BTC = 1 BTC
That's all. You deposit 10 BTC you have 10 BTC. Nothing problematic about this.

Overall is probably the worst idea ever.But surely the worst advice ever is your.

Quote

I guess the best way if you want to save your bitcoin is put it on online wallet.

That's the best way to get rid of all your bitcoins while asleep.

nickolada

newbie

Activity: 31

Merit: 0

i think better to keep bitcoin by yourself
every risk you get by your own
because i don't trust bitcoin in other hand
i manage my coin by myself, it's safe enough for me

chichan13

full member

Activity: 180

Merit: 100

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.

In fact, bitcoin bank is a nice idea. However, if there’s a bank who accepts bitcoin as deposit I think they can’t handle it because bitcoin doesn’t have exact value so I think it will become the problem. Furthermore, there’s no bank who accepts bitcoin but I think in the near future some bank will accept it. I guess the best way if you want to save your bitcoin is put it on online wallet.

Gintama214

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DONATION SENPAI PLEASE <3 <3

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 OR any centralized service which only ask name and email address.

Well the idea of people asking and discussing about bitcoin bank is that because so that when the time is right and the rates are high people can withdraw their bitcoin into cash that's why there are more and more people who asks about bitcoin bank but I do think that in the future it will soon happen I do actually approve of that not because like other people ideas but to encourage other people and advertise people about bitcoin. Bitcoin is just not ordinary currency now its big now and a lot of people and businesses are investing on it. We want all people as possible to get the knowledge about bitcoin and what is it all about and I know bitcoin will do more and help us in the future. So for me I would agree with the idea of having a bitcoin bank. Wink

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