Do you agree with idea "Bitcoin bank" ? - page 37.

aeternus

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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.

No I don’t agree it is the opposite of what we need and want in the bitcoin community, besides why we will need this bank, we can do everything we want without them.

foxbat

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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'm not sure about this idea because I do not understand much about bitcoin bank work principle. Will it act like other banks?I don't think that bitcoin suitable to put on the phrase 'bank'. If built, who is going to manage them, as well as payments on every face?We can't control the bitcoin, very difficult to manage.

stompix

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Quote from: Fatanut on June 15, 2017, 10:15:46 AM

Quote from: ?? on ??

Yes I agree with the idea to have a bitcoin bank.So that every bitcoiner have to save bitcoin so that it is easy to withdraw when you want to make it cash.And I think it is easy to incash if theres a bitcoin bank and this is better to every bitcoiner because you can save and earn fast when price of bitcoin increase .Saving bitcoin is different from saving money.Bitcoin bank has a multiple profit than cash is just a percentage of rhe savings.

One thing that should have been clarified here, what is the concept of the bitcoin bank. In a way, all exchanges out there are already bitcoin banks. They just don't have the physical bank. You can exchange your bitcoin into digital fiat anytime you want with exchange and vice versa. You can also issue a cash out to your bank account whenever you want. The only thing, though, it will take a couple of days to most exchanges.

So, how is the idea of bitcoin bank any different to these exchanges? People here hates not having bitcoin totally decentralized but exchanges (and web wallets) surely are not decentralized.

He is thinking of the bank acting like and exchange so you don't have to withdraw funds via a 3rd party or deposit the same way.
More like an atm or paying your bills directly from your bank account.

Quote from: Xbiz on June 18, 2017, 10:28:13 AM

, nobody would give their BTC to a bank when they can use a wallet themselves.

Hhaha, really?
You have a pretty damn good opinion about the sheep around here.
Take a look on how they use their btc , how they store their coins in online wallets and how they think that using xapo is like using their bank.
They have no clue what they are going to do when bar will close down.

We need another gox to wake up the morons a bit

Xbiz

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I don't like it because it takes a very important and a big part of the meaning of bitcoin, the decentralization which is against the concept of a bank (accumulating money from various depositors and is very "centrist concept").
The reason a bank won't work isn't because of that, but because banks gain profit through lending to traders, currently, lending in the bitcoin field is very risky and actual skilled investors aren't into bitcoin, let alone taking loans in bitcoin, if there's no interest, nobody would give their BTC to a bank when they can use a wallet themselves.

megynacuna

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Quote from: mudboy93 on June 15, 2017, 02:31:00 AM

if this "bank" is a real bank (i.e taking deposits and lending it and getting interest in a relatively safe way" with allot of funding and offering interest, I wouldn't mind investing some of my bitcents there, but a bank like that is unlikely to arise due to the difficulty of systematically lending BTC.

Even a bank like that defeats the purpose of decentralization and we'll end up having our bitcoins controlled by a central body like as in the case of the web wallets and so we wouldn't fully enjoy the financial freedom Bitcoin brings plus we stand an even greater risk of loosing all our funds if anything goes wrong with the bank.

Finestream

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Quote from: micher143 on June 18, 2017, 03:31:35 AM

Quote from: Peashooter on June 18, 2017, 03:08:29 AM

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...

Bitcoin bank is nice idea.however, there still no bank that accepts bitcoin as deposit. Some people keep their bitcoin in online wallet and I think they didn’t want to save their bitcoin in the bank. If there’s a bank who accept bitcoin I guess they can’t handle because the price of bitcoin is always change.

You can create a bitcoin bank by yourself just by saving the bitcoin you earn in cold storage or paper wallet because in that situation you are the only one have an access to your bitcoin bitcoin bank literally concept is just a fallacy because bitcoin wallet are banks already where you can save your bitcoin.

Definitely it's not a bank that the OP is thinking, bitcoin was created to do banking even without a bank because it is decentralized and we can still transact even without the presence of third party business. It's a revolutionary system which would change the current system so there is no need to go back with the currents ways, let's beat bank and patronize bitcoin for our transactions.

micher143

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Quote from: Peashooter on June 18, 2017, 03:08:29 AM

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...

Bitcoin bank is nice idea.however, there still no bank that accepts bitcoin as deposit. Some people keep their bitcoin in online wallet and I think they didn’t want to save their bitcoin in the bank. If there’s a bank who accept bitcoin I guess they can’t handle because the price of bitcoin is always change.

You can create a bitcoin bank by yourself just by saving the bitcoin you earn in cold storage or paper wallet because in that situation you are the only one have an access to your bitcoin bitcoin bank literally concept is just a fallacy because bitcoin wallet are banks already where you can save your bitcoin.

Peashooter

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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...

Bitcoin bank is nice idea.however, there still no bank that accepts bitcoin as deposit. Some people keep their bitcoin in online wallet and I think they didn’t want to save their bitcoin in the bank. If there’s a bank who accept bitcoin I guess they can’t handle because the price of bitcoin is always change.

justspare

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Quote from: freedomgo on June 14, 2017, 11:51:23 PM

Quote from: RudyCenJia on June 14, 2017, 11:26:59 PM

Yes!!

I agree with bitcoin bank, so to simplify buy and sell transactions easily, and on the other hand also to promote bitcoin to everyone to understand what bitcoin, bitcoin use, and the benefits of bitcoin itself.

Bitcoin bank will change the system, they will require you documents like when you are opening a real bank account.
This is not helpful to all and bitcoin might loss its supporters, the current set up is just good so I don't think there is a need to
change anything.

bitcoin is its self a kind of bank that secure our future so to save a bitcoin we really don’t need a proper bank but still some people are thinking for a bitcoin bank .we use banks to keep our income secure so for this purpose we can easily use new hardware wallets it will be more good and relax than a special bank.

Fatanut

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Quote from: ?? on ??

Yes I agree with the idea to have a bitcoin bank.So that every bitcoiner have to save bitcoin so that it is easy to withdraw when you want to make it cash.And I think it is easy to incash if theres a bitcoin bank and this is better to every bitcoiner because you can save and earn fast when price of bitcoin increase .Saving bitcoin is different from saving money.Bitcoin bank has a multiple profit than cash is just a percentage of rhe savings.

One thing that should have been clarified here, what is the concept of the bitcoin bank. In a way, all exchanges out there are already bitcoin banks. They just don't have the physical bank. You can exchange your bitcoin into digital fiat anytime you want with exchange and vice versa. You can also issue a cash out to your bank account whenever you want. The only thing, though, it will take a couple of days to most exchanges.

So, how is the idea of bitcoin bank any different to these exchanges? People here hates not having bitcoin totally decentralized but exchanges (and web wallets) surely are not decentralized.

mudboy93

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Activity: 54

Merit: 0

if this "bank" is a real bank (i.e taking deposits and lending it and getting interest in a relatively safe way" with allot of funding and offering interest, I wouldn't mind investing some of my bitcents there, but a bank like that is unlikely to arise due to the difficulty of systematically lending BTC.

swogerino

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It is a very beautiful idea but not bitcoin bank rather be your own bank. It shows how powerful this currency is as it allows you to be the only central authority for your money. Much better than the Federal Reserve we have in the USA which knows only to print new money to save the problems of our economy.

mk4

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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.

Ehh, bitcoins in banks I think just helps for keeping the bitcoins. But everything else, a big no. In my opinion it defeats the reasons on why bitcoins is made, is to eliminate any sort of mediators.

But yes, like I said I can only see it being useful if the owner of the bitcoins are like super old people (those with like memory problems or such).

Dontme

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Yes I agree with the idea to have a bitcoin bank.so that every bitcoiner have to save bitcoin so that it is easy to withdraw when you want to make it cash.And I think its easy to incash if theres a bitcoin bank and this is better to every bitcoiner because you can save and earn fast when the price of bitcoin is increase.Saving bitcoin is different from saving money bitcoin bank has a multiple profit than cash is just a percentage of savings.

stompix

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Blackjack.fun

Quote from: achillez on June 13, 2017, 03:10:15 PM

Quote from: BitHodler on June 13, 2017, 01:22:58 PM

Why does everyone here take the term Bitcoin bank so seriously, that they think it's against Bitcoin?

Exchanges and wallet services can be seen as Bitcoin banks already, and they aren't against Bitcoin at all. On top of that, no one is forcing people to make use of whatever service ~ it's all optional.

If people here really worry about Bitcoin banks being against decentralization, they should also stop using exchanges, online wallet services, gambling sites, and the list goes on. Otherwise that claim holds zero value.

I have the same thought. Tbh, I think folks that dislike the bank idea are the same types of people that keep their $ under a mattress because they don't trust banks with their cash. This is their decision, but it doesn't mean that the rest of us don't want some extra level of security. When I keep money in the bank I "know" it's highly unlikely to be stolen. When I keep bitcoins I "know" it's highly likely to be stolen unless I'm ultra careful as to how I exchange coins on the internet. It's the double-edge sword with bitcoin. It's ultra easy to trade using your keys, but it's easy to lose as well. I personally would be thrilled to use a bank where you could secure your assets, and maybe get a low % interest rate.

Yeah, Ubitex,gbl,b7,Bitcoinica,mt gox,inputs,mintpal,cryptorush

All these places where full of people who were extra careful, a lot of them quite experienced users.
In the end it didn't matter.

You're forgetting why bitcoin made the news during the Cyprus crisis.
It was because nobody can take away your bitcoins if they are in your wallet unlike funds in a bank which can can be both frozen and taken away while you sleep with a simple signature of the government or authority.

freedomgo

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Quote from: RudyCenJia on June 14, 2017, 11:26:59 PM

Yes!!

I agree with bitcoin bank, so to simplify buy and sell transactions easily, and on the other hand also to promote bitcoin to everyone to understand what bitcoin, bitcoin use, and the benefits of bitcoin itself.

Bitcoin bank will change the system, they will require you documents like when you are opening a real bank account.
This is not helpful to all and bitcoin might loss its supporters, the current set up is just good so I don't think there is a need to
change anything.

RudyCenJia

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Yes!!

I agree with bitcoin bank, so to simplify buy and sell transactions easily, and on the other hand also to promote bitcoin to everyone to understand what bitcoin, bitcoin use, and the benefits of bitcoin itself.

reflector

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Quote from: rikybrosh on June 14, 2017, 11:13:02 PM

Quote from: arcanayou on June 14, 2017, 10:54:38 PM

I do not agree with bitcoin bank, bitcoin already has a secure system for us to store bitcoin, lots of online wallet that we can use, so no more bank, bank will only add cost for us to save bitcoin

Online wallet is such as bank for me, if bitcoin bank is operate like fiat bank it will just make some people use our bitcoin that gathered. Of course it is not good.

Many of us around the forum, says the words you said from the past years but nowdays you may noticed in bitcoin news sites such as coindesk or merkle. International banks are trying to initialize their own altcoin belongs to them. Therefore, they are passing a financial bill to their Government. Even Swiss banks are also started.

rikybrosh

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Quote from: arcanayou on June 14, 2017, 10:54:38 PM

I do not agree with bitcoin bank, bitcoin already has a secure system for us to store bitcoin, lots of online wallet that we can use, so no more bank, bank will only add cost for us to save bitcoin

Online wallet is such as bank for me, if bitcoin bank is operate like fiat bank it will just make some people use our bitcoin that gathered. Of course it is not good.

Botnake

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Quote from: arcanayou on June 14, 2017, 10:54:38 PM

I do not agree with bitcoin bank, bitcoin already has a secure system for us to store bitcoin, lots of online wallet that we can use, so no more bank, bank will only add cost for us to save bitcoin

bank will jut gave you problem like freezing your account because you cannot justify your funds, no way to bank.
It is only good for saving fiat money and bitcoin is a different system so we should not integrate bank with this.

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