Do you agree with idea "Bitcoin bank" ? - page 45.

tiptopfund

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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.

Putting decentralized independent powerful bitcoin into a jail of a regulated outdated infrastructure dependent on a few people is a crime.

deisik

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Quote from: Deep BTC on April 15, 2017, 02:48:48 PM

I do not find the idea of bitcoin bank positive. A thought contrary to Bitcoin's philosophy. If a bitcoin bank is established, there is no difference from the current monetary system.
Many people who use bitcoins want to control their own money only by themselves. But I think that such services will be demanded in the future. So people may want to keep their money in bitcoin banks

And what says Bitcoin's philosophy exactly?

And why should it be against Bitcoin banks precisely? I strongly suspect you don't know yourself what it hinges around. Anyway, if there is any, it should be about freedom, right? So how can you say that Bitcoin banks would be contrary to it if they remain on an equal playing ground with other market participants? I guess you can't have it both ways, i.e. first declare freedom and then prohibit banks from participating. Such approach has been given its own term, it is called hypocrisy

Jewell

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Quote from: Deep BTC on April 15, 2017, 02:48:48 PM

I do not find the idea of bitcoin bank positive. A thought contrary to Bitcoin's philosophy. If a bitcoin bank is established, there is no difference from the current monetary system.
Many people who use bitcoins want to control their own money only by themselves. But I think that such services will be demanded in the future. So people may want to keep their money in bitcoin banks.

to me i am also not in favour of the idea of bitcoin banks, i do not think that it will be more convenient than online bitcoin wallet system, which we can use so easily from anywhere and any time. as there is no restriction of time format.

digaran

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Banks need governments and insurance companies to secure their investments and safe keeping their money, how could you have a bank which is a central organization in a decentralized ecosystem?

You can fool yourselves but many of us are not fooled that easy, don't put your bitcoins in any thing calling themselves bank for crypto.

Bitcoin addresses with private keys are the safest place for your coins and besides when price increases %20 can the bank increase your balance as well or will they deal with you by the fiat worth of bitcoins?

Imagine you deposit 100BTC into a bank in hopes of receiving 25% interest every year, if they pay you all the interests in bitcoin and not USD you'd still need some sort of rock solid insurance so they can't just run with your money and if they did you'd be able to take it back from insurance company.

Creepings

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I don't like having a bitcoin bank, I love the way bitcoin as a decentralized digital currency, making a bitcoin bank means that it will be be centralized digital currency controllable by some group oe the government tapping on our accounts making our privacy their entertainment in their leisure. I good on how bitcoin is kept on our wallets and for me, is the reason why Satoshi Nakmoto made the currency, to manage ourown money.

kvlolo

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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.

There is a site call itself The First Bitcoin Bank on the planet - bitcoinprofit.net, https://bitcoinprofit.net/info/page/about what do you think?

Deep BTC

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I do not find the idea of bitcoin bank positive. A thought contrary to Bitcoin's philosophy. If a bitcoin bank is established, there is no difference from the current monetary system.
Many people who use bitcoins want to control their own money only by themselves. But I think that such services will be demanded in the future. So people may want to keep their money in bitcoin banks.

hello_good_sir

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Quote from: AngelSky on April 15, 2017, 12:50:25 PM

Quote from: citywise2 on April 15, 2017, 12:39:01 PM

I dont buy thé idea of bitcoin bank for now.
We should be thinking about the life growth of bitcoin not the bank.
Bitcoin bank can not help bitcoin for now and it will make the popularity of bitcoin to fed away.

Actually already banks started implementing online services completely and try to compete with the bitcoin. Citi bank, New York creating new digital coin for them called "Citicoin". However, none implementation are equal to bitcoins. If bitcoin adopted by any financial services. They will consume more amount for usage and fees. Personally I do not support this bitcoin in bank.

I have noticed that this thread already contains a really big number of different answers from particular people, but I just had to participate at least for a while.

It is happening because banks are into technology and current financial news, and they are scared of cryptocurrency horizon that is starting to cover some of their clients.
They can spot an incoming struggle with bitcoin, and that is why they are implementing so many new online services.

For example, Ripple has been created by banks to make the settlements between them.
Also, as you said there is Citicoin, but I cannot believe it will be adopted by a big amount of users, when we have so many great cryptocurrencies to choose.

Im sure that banks will take part in cryptocurrency business, but in few years because I think they are still not sure about going into investment that is not so predictable.

AngelSky

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Quote from: citywise2 on April 15, 2017, 12:39:01 PM

I dont buy thé idea of bitcoin bank for now.
We should be thinking about the life growth of bitcoin not the bank.
Bitcoin bank can not help bitcoin for now and it will make the popularity of bitcoin to fed away.

Actually already banks started implementing online services completely and try to compete with the bitcoin. Citi bank, New York creating new digital coin for them called "Citicoin". However, none implementation are equal to bitcoins. If bitcoin adopted by any financial services. They will consume more amount for usage and fees. Personally I do not support this bitcoin in bank.

citywise2

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I dont buy thé idea of bitcoin bank for now.
We should be thinking about the life growth of bitcoin not the bank.
Bitcoin bank can not help bitcoin for now and it will make the popularity of bitcoin to fed away.

deisik

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Quote from: mornabo on April 15, 2017, 10:24:09 AM

Quote from: nejibens on April 14, 2017, 01:21:13 PM

I dont agree with this idea, because i think we don't need Bitcoin bank actually, or in the future. We can still using our secured wallets and its enough for every user of Bitcoin. Bitcoin is decentralized and anonymous, and the bank couldn't take this powerful features

I think every user is free to determine their choice. and free third party to make a bitcoin bank. if you do not agree. you just need to use it, simple right ?

It may be simple but it is surely not right

At least, that's what many people think regarding this question. They seem to be heavily ideologically biased against banks as if Bitcoin banks could actually change anything. Somehow, I don't see a lot of the same dudes raising their voice regarding real issues, i.e. against rogue miners which usurped power, against paid shills spreading the BU fud across forums. But after all, these may be the same folks so who cares?

mornabo

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Quote from: nejibens on April 14, 2017, 01:21:13 PM

I dont agree with this idea, because i think we don't need Bitcoin bank actually, or in the future. We can still using our secured wallets and its enough for every user of Bitcoin. Bitcoin is decentralized and anonymous, and the bank couldn't take this powerful features

I think every user is free to determine their choice. and free third party to make a bitcoin bank. if you do not agree. you just need to use it, simple right ?

ice098

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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.

maybe yes but I dont trust too much. If it will happen it must be manage by the bitcoiners also. they should know how does the bitcoin be earned and be spend. they should be a user too.

deisik

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Quote from: gabbie2010 on April 15, 2017, 01:53:53 AM

The idea of establishing a Bitcoin bank is a good idea any way but the question is that is it going to be operated with structures such as the convectional banking system with an headquarter and branches? or is it going to be virtually operated? As for me I will prefer the latter which will be easier to access than the former

I don't see any particular difference here

Even if regular banks start accepting bitcoins, you will most likely be able to access your Bitcoin account (i.e. send from and receive coins to) via Internet in pretty much the same way you use online banking and web wallets nowadays. If you don't have an existing account in a bank (I refer to regular accounts in fiat currencies, i.e. deposits and checking accounts), you will certainly have to visit a bank office with your identity documents to open an account there (just like you have to go to a bank today in order to open a regular fiat account in the bank)

bamboylee

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Quote from: Dudeperfect on October 18, 2016, 01:29:08 PM

Yes, I agree with the idea of bitcoin bank as far as all core features of bitcoin are not going to affect. Bank is such an institution which facilitates the flow of funds on larger level and in organized manner so I think bitcoin bank would push the potential of bitcoin on next level everything work out in right manner. It will make the bitcoin more productive and accessible to everyone in organized manner. I support the idea of bitcoin bank.

we already have so many bank institutions. bitcoin don't need to compete with banks.

vasrasus

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Quote from: virasisog on April 15, 2017, 02:20:59 AM

Quote from: Questat on April 15, 2017, 02:05:39 AM

Quote from: gabbie2010 on April 15, 2017, 01:53:53 AM

The idea of establishing a Bitcoin bank is a good idea any way but the question is that is it going to be operated with structures such as the convectional banking system with an headquarter and branches? or is it going to be virtually operated? As for me I will prefer the latter which will be easier to access than the former.

Banks do operate in a way that is based on a laws of the government, bitcoin on the other hand does not follow any law
because we are decentralized, I do not think we still need a bank when we have a lot of bitcoin exchanges already which never failed to serve us.

I think so , the idea is good but the terms that a bank can change bitcoins features is not a great idea .how legible will be the bank and the person who will deposit or save bitcoins on them i don't see any advantage of bitcoin bank as of now unless a bank develops it and add good feature . Maybe the blockchain will be adoptable in banking but not in bitcoins.

I don't really think there's a need for bitcoin bank,bitcoin wallets alone can perform bank task,it can send transactions to by using wallets and we can monitor and control our own btc without taxes and service charges. What we only need is to have a reliable wallet that will be able to perform what we needs, I'm using coins.oh and it does really good job.

virasisog

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Quote from: Questat on April 15, 2017, 02:05:39 AM

Quote from: gabbie2010 on April 15, 2017, 01:53:53 AM

The idea of establishing a Bitcoin bank is a good idea any way but the question is that is it going to be operated with structures such as the convectional banking system with an headquarter and branches? or is it going to be virtually operated? As for me I will prefer the latter which will be easier to access than the former.

Banks do operate in a way that is based on a laws of the government, bitcoin on the other hand does not follow any law
because we are decentralized, I do not think we still need a bank when we have a lot of bitcoin exchanges already which never failed to serve us.

I think so , the idea is good but the terms that a bank can change bitcoins features is not a great idea .how legible will be the bank and the person who will deposit or save bitcoins on them i don't see any advantage of bitcoin bank as of now unless a bank develops it and add good feature . Maybe the blockchain will be adoptable in banking but not in bitcoins.

Questat

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Quote from: gabbie2010 on April 15, 2017, 01:53:53 AM

The idea of establishing a Bitcoin bank is a good idea any way but the question is that is it going to be operated with structures such as the convectional banking system with an headquarter and branches? or is it going to be virtually operated? As for me I will prefer the latter which will be easier to access than the former.

Banks do operate in a way that is based on a laws of the government, bitcoin on the other hand does not follow any law
because we are decentralized, I do not think we still need a bank when we have a lot of bitcoin exchanges already which never failed to serve us.

gabbie2010

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The idea of establishing a Bitcoin bank is a good idea any way but the question is that is it going to be operated with structures such as the convectional banking system with an headquarter and branches? or is it going to be virtually operated? As for me I will prefer the latter which will be easier to access than the former.

deisik

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Quote from: jualidbitmixer on April 14, 2017, 09:51:09 PM

If that "Bitcoin Bank" also provide interest every month like bank do, yes i agree. I will stored all my bitcoins into bitcoin bank if that happen. I'm sure many people also like that, but bitcoin bank must be under government control. So we feel save about our coins

It seem that this is no longer enough to be called a "Bitcoin bank"

Some faucets have started offering interest on the funds held in their accounts but I don't think that we can ever call them Bitcoin banks. On the other hand, many Bitcoin exchanges that offer margin trading by borrowing funds from their clients, allow lenders to earn interest. But it is more of an active income since you you should see if your loan has been closed and renew it, unlike real banks where your interest is fixed for a certain term

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