Do you agree with idea "Bitcoin bank" ? - page 35.

Theb

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Quote from: Ipwich on June 23, 2017, 02:35:51 AM

Quote from: Caelanpelley on June 23, 2017, 01:23:51 AM

Quote from: MinerHQ on October 18, 2016, 02:06:18 PM

Bitcoin Bank the idea is good, but this plan will not work out. If you want work out, this idea means the first thing you need that your government will accept Bitcoin as a legal currency. First, solve this problem after words we can discuss Bitcoin Bank. Till that, this is a unnesssory discussion.

I don't think that the concept of left bank suitable with bitcoin. Source bitcoin always have a certain amount. Bank bitcoin will act as how? And how to be able to manage such a currency.?

Not possible with the current banking system, bitcoin has its own bank which are the exchanges or online wallet.
I believe it has already serve us and we do not need bank to do banking or transact online.

Even if Bitcoin will be accepted legally by a country I don't think that the next step for banks is to accept is also, what banks are looking for a currency is a stable one in which they can rely on that is why they accept Fiat currency only. Imagine what will happen to both the bank and the user when Bitcoin prices keep changing and changing it will be bad for their business and your money as well.

Ipwich

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Quote from: Caelanpelley on June 23, 2017, 01:23:51 AM

Quote from: MinerHQ on October 18, 2016, 02:06:18 PM

Bitcoin Bank the idea is good, but this plan will not work out. If you want work out, this idea means the first thing you need that your government will accept Bitcoin as a legal currency. First, solve this problem after words we can discuss Bitcoin Bank. Till that, this is a unnesssory discussion.

I don't think that the concept of left bank suitable with bitcoin. Source bitcoin always have a certain amount. Bank bitcoin will act as how? And how to be able to manage such a currency.?

Not possible with the current banking system, bitcoin has its own bank which are the exchanges or online wallet.
I believe it has already serve us and we do not need bank to do banking or transact online.

Caelanpelley

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Quote from: MinerHQ on October 18, 2016, 02:06:18 PM

Bitcoin Bank the idea is good, but this plan will not work out. If you want work out, this idea means the first thing you need that your government will accept Bitcoin as a legal currency. First, solve this problem after words we can discuss Bitcoin Bank. Till that, this is a unnesssory discussion.

I don't think that the concept of left bank suitable with bitcoin. Source bitcoin always have a certain amount. Bank bitcoin will act as how? And how to be able to manage such a currency.?

iqlimasyadiqa

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Quote from: Humanxlemming on June 21, 2017, 09:54:46 AM

Never agree with it because why??? such we need a bitckin bank if we have another banks that can actually turn our bitcoin into fiat? Also because i've not agree is if we deposit now our bitcoin into the bank then we doesn't have now possibility to growth it if bitcoin increase it's price because it will convert our bitcoin into fiat.

Bitcoin banks were created not as a place to invest. Bitcoin bank is to store your bitcoin safely. We might be able to enforce a rule so bitcoin banks can secure our bitcoins very safely. Other than that maybe with bitcoin bank we can propose a system like credit, it gives many choices of course.

Humanxlemming

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Never agree with it because why??? such we need a bitckin bank if we have another banks that can actually turn our bitcoin into fiat? Also because i've not agree is if we deposit now our bitcoin into the bank then we doesn't have now possibility to growth it if bitcoin increase it's price because it will convert our bitcoin into fiat.

pillpharm

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The whole point of bitcoin (or any crypto, for that matter) is to have total control of your money. Please consider the unfair business practices of Brick-and-Mortar fiat banks, or from the catastrophes of failed exchanges such as mtgox. Keep your money, don't let others hang onto it, and back it up.

Palmerson

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Quote from: hakanbalta5777 on June 21, 2017, 07:35:45 AM

I do not like the idea, because one of the main principles behind and forming the base for BTC is the decentralization where there is no central authority or a financial base, and a bank is the base of centralization and just giving your bitcoins to someone to hold it is meaningless, since you can hold them yourself in a secure way.

The Bank will not be able to give someone bitcoins at interest if the person does not confirm your income in bitcoins. Such people almost no customers so the Bank will not. For me ask to take a loan in dollars and not have to worry about rising prices.

hakanbalta5777

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I do not like the idea, because one of the main principles behind and forming the base for BTC is the decentralization where there is no central authority or a financial base, and a bank is the base of centralization and just giving your bitcoins to someone to hold it is meaningless, since you can hold them yourself in a secure way.

Fatanut

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Quote from: UCHCHILD on June 20, 2017, 10:16:51 AM

Quote from: merlyn22 on June 20, 2017, 10:00:31 AM

i agree on bitcoin bank if the features same with other coin base wallet , xapo , blockchain but hopefully the fees much lower compare to them

Exactly, if they do not put additional fees for that for sure people will going to join the bank for bitcoin because as for now coinbase which I am using now is asking for 0.001+ for fee which is so suck in my part badly because it is a bit expensive if I am goin to transfer money to my friend with just 0.001 Sad

.
Also if they add good feature for bitcoin so I think they going to hit the peak of the people also if the transactions are good and fast as what we have before brcause the more volume of users the more slower the transaction is I hope the future bank will resolve it.

All multi-sig web wallets are like this, right? Or is it just the one that we're using in my country? When you send your bitcoins to another address that's from the same web wallet, then you don't have to pay the fees at all. They just have to update on their database that the money for that account has increased. It doesn't make any sense if there's a transaction fee, of course, because you guys are all using the same multi wallet but just one address for one account.

That's the case on our web wallet but we don't see people from other countries using it, do we? I even stopped using that wallet as well since I don't really trust anything that creates centralization in bitcoin.

Chachacoin17

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Yes I do agree with idea bitcoin bank and it has a secured type of bankin compared from fiat cash money. Through the use of smart phones nowadays you can easy transact your bitcoin savings by the use of wallets created online and offline saving of an encrypted data. It has a higher advantage because you will not be holding a physical money at your hands but it's digital form of money like bitcoin value you are having in your personalized encrypted wallet.

setupbounds

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Quote from: halych on June 19, 2017, 08:49:17 AM

Quote from: calandra78 on June 19, 2017, 08:29:06 AM

Quote from: Doamader on October 18, 2016, 02:24:14 PM

No way we dont need those, we do have already our own banks, where we control everything we do with our money, makes no sense to ask for such thing when people is looking for freedom.

Yes actually I think no need to set up a bank because we already have the bitcoin wallet itself that we manage and take control of our own. with our own we can manage freely want to do something with our own money, but if we keep it in the bank bitcoin then we will be bound by all of the regulations and we must do it and learn the ins and outs of the existence of bitcoin bank first. Thus we have freedom in regulating our banks themselves would be easier for us to arrange them in accordance with our wishes.

I agree with you. We already have our own bank, which we successfully use. Cryptocurrency is a unique phenomenon and it will break the banking system. And to turn the cryptocurrency into something that we want to escape from - it's wrong

Yes you are right there is no need of bitcoin bank because mostly people use it because of its low transaction fee and because of it anonymous. There are also safe wallets for bit coin and every one can use it with its own mind. I think the management should make more safe the wallets instead of making a bank.

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Quote from: giveen on June 20, 2017, 01:28:52 PM

No not all the current banks we have I'm totally fine witg it and having a bank would require me to disclose all the bitcoins i have a d submission of additional document for no reason. Having my bitcoin saved in bank would surely require me to pay those little extra fees for every transactions i do which is surely not fair according to me. And having a bitcoin bank would be a fail as i am 100% sure you are going to get a really bad response

I don't like to follow the same procedure, banks are operated by people and we will lost our privacy because they can access
our accounts anytime they want. I am not comfortable with that, in fact now I have save most of my money to bitcoin and other
crypto currencies.

wahb

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Quote from: marcuslong on June 20, 2017, 11:29:42 AM

I'm not agree with the bitcoin bank because once bitcoin is deposited from the bank i think it will totally converted with fiat currency already and it will never turns into bitcoin if theres an bank then why should use it when we have wallets where to stock those coins and easy to get when we need it.

i also think that we do not need for any bitcoin bank. we can use bitcoin wallet more easily and more conveniently, we can use our online wallet for depositing and withdrawal of bitcoin at any time. we do not need to go for a bank. we can use online wallet for shopping online we can also use it for buying shopping in offline shops. so i think we do not need to adopt the traditional banking system again from which we just got freedom.

giveen

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No not all the current banks we have I'm totally fine witg it and having a bank would require me to disclose all the bitcoins i have a d submission of additional document for no reason. Having my bitcoin saved in bank would surely require me to pay those little extra fees for every transactions i do which is surely not fair according to me. And having a bitcoin bank would be a fail as i am 100% sure you are going to get a really bad response

densuj

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Well i don't agree with idea bitcoins bank because with bitcoins we have bank own and our funds in bitcoins is safe, we have full control on our bitcoins, we have responsibility on the funds. Bitcoins is decentralized will be bad if bitcoins be centralized with bitcoins bank, we will be losing control on our bitcoins if there are bitcoins bank. Bank is good for fiat money and bad for bitcoins.

Rinder

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It doesnt make sense you wanna to centralize bitcoins for what interest? You can do anything without banks over bitcoin, something you wont be able with banks management, they will use your coins to trade or lend others, and pay you like fiat savings. Bitcoin does have value due to be decentralized, i dont see why we would go into another direction.

marcuslong

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I'm not agree with the bitcoin bank because once bitcoin is deposited from the bank i think it will totally converted with fiat currency already and it will never turns into bitcoin if theres an bank then why should use it when we have wallets where to stock those coins and easy to get when we need it.

Hadmart

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in my opinion bitcoin bank is not good idea because not all people know about bitcoin and know how to use it
and i think it will susceptible with hack its need high level security and the other reason is i think the fees will very big to withdraw,

Blackwhite69

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Bitcoin Bank the idea is good, but what about the government they accept it? Huh

7jaka7

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Quote from: UCHCHILD on June 20, 2017, 10:16:51 AM

Quote from: merlyn22 on June 20, 2017, 10:00:31 AM

i agree on bitcoin bank if the features same with other coin base wallet , xapo , blockchain but hopefully the fees much lower compare to them

Exactly, if they do not put additional fees for that for sure people will going to join the bank for bitcoin because as for now coinbase which I am using now is asking for 0.001+ for fee which is so suck in my part badly because it is a bit expensive if I am goin to transfer money to my friend with just 0.001 Sad

.
Also if they add good feature for bitcoin so I think they going to hit the peak of the people also if the transactions are good and fast as what we have before brcause the more volume of users the more slower the transaction is I hope the future bank will resolve it.

The bank couldn't regulate fees. Maybe only if transactions would be made between two clients in same bank, so there is no actual need for blockchain transations. Whenever BTC is going from one public key to another there must be fee paid to whole system. So the bank is powerless in this things.
The banks purpose is to store money safely. They can only offer different things so that they attract more clients.

Topic: Do you agree with idea "Bitcoin bank" ? - page 35. (Read 142276 times)