Do you agree with idea "Bitcoin bank" ? - page 67.

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Quote from: zimmah on February 06, 2017, 10:44:13 AM

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.

It's ironic because bitcoin Core is trying to turn bitcoin into some kind of bank with bitcoin Core being the bank and LN being some kind of SWIFT system.

And a lot of people seem to support it

But what's wrong with that?

After all, isn't all folks here are saying and then continuously repeating that you should be "your own, personal bank"? With LN, that would be like a distributed decentralized banking system, and the true irony is that implementing this idea would actually mean creating "you own banks" in the literal sense of the word. Further, if LN gets activated, no one could force you to use the payment channels that this system should provide, right?

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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.

It's ironic because bitcoin Core is trying to turn bitcoin into some kind of bank with bitcoin Core being the bank and LN being some kind of SWIFT system.

And a lot of people seem to support it.

deisik

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Quote from: Carmen_Sandiego on February 06, 2017, 09:21:11 AM

Quote from: Harlot on February 06, 2017, 04:26:26 AM

Quote from: Grdas130979 on February 06, 2017, 01:39:01 AM

I want to add to the discussion that when we say bank, there are many things someone can understand. For example there are the central banks, who isssue money and control circulation, rates etc. I dont wont a central bank thats for sure.

But a commercial bank which keeps money, loans money etc i would like if it was decentralized and noone could speculate with my btc or could steal my btc

Keep in mind that if a bank is controlling your Bitcoin there will be no guarantee that you will still have the value your Bitcoin was when you deposited it. What I mean is even banks can't control the price of Bitcoin in which there business has the burden of adjusting to the volatility, that is why Fiat will be a more popular choice to Banks and Customers.

If the person decides to use Bitcoin and decides to put the coins in a bank, then the use of the currency would not be very different from the use of fiat currency. I would see no problems if some banks started accepting deposits in Bitcoin, but it is not advisable to put many Bitcoins in centralized institutions.

And why Bitcoin should be used differently than fiat?

Also, how exactly should it be used that would make it different from fiat? After all, Bitcoin is considered to be money in its own right, but any money is used essentially in the same way, i.e. as a means of storing value as well as a means of exchange. It is thought as well that expanding Bitcoin adoption ultimately comes down to using it instead of fiat (through wider acceptance by merchants). Obviously, in that very case it will be used in the same role and way as fiat is being used now

Carmen_Sandiego

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Quote from: Harlot on February 06, 2017, 04:26:26 AM

Quote from: Grdas130979 on February 06, 2017, 01:39:01 AM

I want to add to the discussion that when we say bank, there are many things someone can understand. For example there are the central banks, who isssue money and control circulation, rates etc. I dont wont a central bank thats for sure.

But a commercial bank which keeps money, loans money etc i would like if it was decentralized and noone could speculate with my btc or could steal my btc

Keep in mind that if a bank is controlling your Bitcoin there will be no guarantee that you will still have the value your Bitcoin was when you deposited it. What I mean is even banks can't control the price of Bitcoin in which there business has the burden of adjusting to the volatility, that is why Fiat will be a more popular choice to Banks and Customers.

If the person decides to use Bitcoin and decides to put the coins in a bank, then the use of the currency would not be very different from the use of fiat currency. I would see no problems if some banks started accepting deposits in Bitcoin, but it is not advisable to put many Bitcoins in centralized institutions.

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Quote from: legendbtc on February 06, 2017, 04:38:57 AM

Banks for bitcoin is not possible because to setup a bank it is not small process. Once banks are controlling bitcoin the price of the bitcoin will not reach to higher value may be. But bitcoin is operating world widely than how can bitcoin bank will operate with all the transactions.

If the bitcoin wants to become legal in all country, then we need bitcoin bank. Without this Bitcoin bank, the govt will not approve Bitcoin. Because from Bitcoin bank, only the govt will get revenue. But I also have doubt that how the banks will track bitcoin transaction. It is not easy to open Bitcoin bank there are a lot of rules and regulations will oppose this bank. So the idea is good but doesn't know it will work out or not in the present situation.

legendbtc

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Banks for bitcoin is not possible because to setup a bank it is not small process. Once banks are controlling bitcoin the price of the bitcoin will not reach to higher value may be. But bitcoin is operating world widely than how can bitcoin bank will operate with all the transactions.

Harlot

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Quote from: Grdas130979 on February 06, 2017, 01:39:01 AM

I want to add to the discussion that when we say bank, there are many things someone can understand. For example there are the central banks, who isssue money and control circulation, rates etc. I dont wont a central bank thats for sure.

But a commercial bank which keeps money, loans money etc i would like if it was decentralized and noone could speculate with my btc or could steal my btc

Keep in mind that if a bank is controlling your Bitcoin there will be no guarantee that you will still have the value your Bitcoin was when you deposited it. What I mean is even banks can't control the price of Bitcoin in which there business has the burden of adjusting to the volatility, that is why Fiat will be a more popular choice to Banks and Customers.

Grdas130979

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I want to add to the discussion that when we say bank, there are many things someone can understand. For example there are the central banks, who isssue money and control circulation, rates etc. I dont wont a central bank thats for sure.

But a commercial bank which keeps money, loans money etc i would like if it was decentralized and noone could speculate with my btc or could steal my btc

zuyfg888

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Quote from: ffe on February 06, 2017, 01:27:22 AM

Quote from: Schuyler on February 06, 2017, 12:45:53 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 can't figure out the output of having a bitcoin bank.Is it similar from the fiat currency system? I just wonder if how really it works.

Banks make loans. They are very good at transforming an ability to generate money over time (a job) into a loan (a mortgage to buy a home).
They have capital and they take risks. That's what they do.

There is no market for this service in bitcoin because no one in his right mind will take out a loan in bitcoin. Bitcoin appreciates too much.

So, no. No bitcoin banks any time soon.

Yes, bank can help us a lot, but in terms for their capital and profit, we are not sure about it. Those interests can make us bankrupt, we need that kind of bank, but in terms on interest, our earnings will lost. For me, bitcoin must have a bitcoin bank, but, if you think you are going to risk your money, do not invest your money in bank. We should know about the cause and effects of banks.

ffe

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Quote from: Schuyler on February 06, 2017, 12:45:53 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 can't figure out the output of having a bitcoin bank.Is it similar from the fiat currency system? I just wonder if how really it works.

Banks make loans. They are very good at transforming an ability to generate money over time (a job) into a loan (a mortgage to buy a home).
They have capital and they take risks. That's what they do.

There is no market for this service in bitcoin because no one in his right mind will take out a loan in bitcoin. Bitcoin appreciates too much.

So, no. No bitcoin banks any time soon.

stadus

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Quote from: Schuyler on February 06, 2017, 12:45:53 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 can't figure out the output of having a bitcoin bank. How does the system works? Is it similar from the fiat currency system?

We will not know until there is an actual bitcoin bank that would be name as bank, probably it's going to be similar with the system on how banks are manage in the real world. Bitcoin is decentralized, so there must be something the government will have to do because putting one.

Schuyler

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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 can't figure out the output of having a bitcoin bank.Is it similar from the fiat currency system? I just wonder if how really it works.

Ziskinberg

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Quote from: megynacuna on February 05, 2017, 09:44:49 PM

Quote from: NEWGOODOUBLE on February 05, 2017, 09:35:47 PM

Quote from: iMaster on February 05, 2017, 09:13:40 AM

I think that Bitcoin is made to be everything opposite of the fiat currency system. Bitcoin banks would ruin the whole Bitcoin system. The system is great now as it is and I strongly agree that the whole idea of the Bitcoin bank is stupid and we do not need it.

even if you think that the system at a bank is a very stupid thing. but with the fact that bitcoin bank will help the bitcoin is becoming more popular, although the bitcoin system may be lost when you use bitcoin bank

How can we have Bitcoin bank? Thus defeats the purpose of decentralization in the first place and so I don't think we will ever centralize Bitcoin in any way so it's a non feasible idea to think of.

Exchange sites could be our bank right now, we put our bitcoin and covert it to fiat. It's not gonna be similar to the bank in real life that every time we deposit, it will earn interest. It's different here, it's just all about safe keeping and waiting for our money to grow, they cannot use our money as well as anytime we will transfer it or withdraw to fiat.

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Quote from: NEWGOODOUBLE on February 05, 2017, 09:35:47 PM

Quote from: iMaster on February 05, 2017, 09:13:40 AM

I think that Bitcoin is made to be everything opposite of the fiat currency system. Bitcoin banks would ruin the whole Bitcoin system. The system is great now as it is and I strongly agree that the whole idea of the Bitcoin bank is stupid and we do not need it.

even if you think that the system at a bank is a very stupid thing. but with the fact that bitcoin bank will help the bitcoin is becoming more popular, although the bitcoin system may be lost when you use bitcoin bank

How can we have Bitcoin bank? Thus defeats the purpose of decentralization in the first place and so I don't think we will ever centralize Bitcoin in any way so it's a non feasible idea to think of.

NEWGOODOUBLE

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Quote from: iMaster on February 05, 2017, 09:13:40 AM

I think that Bitcoin is made to be everything opposite of the fiat currency system. Bitcoin banks would ruin the whole Bitcoin system. The system is great now as it is and I strongly agree that the whole idea of the Bitcoin bank is stupid and we do not need it.

even if you think that the system at a bank is a very stupid thing. but with the fact that bitcoin bank will help the bitcoin is becoming more popular, although the bitcoin system may be lost when you use bitcoin bank

iMaster

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I think; Bitcoin is the digital cryptocoin were is decentralized, easy to setup, anonymous, completely transparent, fast, very law fees in transactions (practically near zero) and most important freedom because everyone at the same time is the bank and the customer. Which of previous characteristics has a bank/

emezh10

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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 if there's gonna be thing called bitcoin bank that's the time that bitcoin will be legal or be known by the government . But for me that is totally a bad thing , because there's gonna be a tax in every bitcoin user's and government may make money for it leading to corruption. For now, bitcoin wallet is much good if you want to handle your bitcoins.We don't need a bank for now.

Shady

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Life is a game, you either play it or get played.

Just like with the barter system, money comes and goes through exchanges and mix into other economies before going back into pure circulation. No matter how often moved around, there's always a cycle where a percent sit on wallets or other brokers in which coin is connected to Xapo, CoinBase, Block.io or other popular web services.

Nothing becomes different than the predator in the circle keeps doing this, but with that comes necessity to secure holdings and this is where banks have started to come in development. This process will likely end up with a "bank" longing on others gains to build a new era in this digital revolution.

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Quote from: BlackPanda on February 05, 2017, 09:40:39 AM

Quote from: iMaster on February 05, 2017, 09:13:40 AM

I think that Bitcoin is made to be everything opposite of the fiat currency system. Bitcoin banks would ruin the whole Bitcoin system. The system is great now as it is and I strongly agree that the whole idea of the Bitcoin bank is stupid and we do not need it.

there is no reason to say bitcoin bank is a stupid idea. you may not understand everything. with the bank we can save our bitcoin safely. as well as saving money in the real world. it will make us profit from bitcoin storage results in the bank.

Yes in banks we will feel our bitcoin as more safe if they will give full guarantee of our bitcoins and the banks will work under the government because some self running parties often escape away leaving nothing but there will be some fees of these banks which will be burden on us.

doomloop

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i think bitcoin do not need any bank because bitcoin technology is already much more stable and bitcoin is very much secure and safe than bank and we know that bank fess and tax is much more high so bitcoin has do not need any bank.

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