Topic: Do you agree with idea "Bitcoin bank" ? - page 74. (Read 142276 times)
Creating a bitcoin bank destroys the whole idea of bitcoins for me. If you have a bitcoin bank, you can't be anonymous. The whole point of using bitcoins is being anonymous. But then again, the extra interest from the bank would be nice XD
I would prefer using a bitcoin bank just like I use coinbase and Xapo and my other offline banks. But if it restricts my use of bitcoins and keeps asking for information about my transactions, I wouldn't prefer that as my banks too never demand such information. Also, I don't see anything wrong in a bitcoin bank if it pays interest for holding coins just like other banks. It would be beneficial for those who just hold coins and don't want to spend them.
If ever there would be a bitcoin bank, maybe thats the time that goverment will have the control to bitcoin and the legallity takes place. But the goverment will know our transactioin and they can control the increase of value of bitcoin. So i do not prefer anymore for a bitcoin bank. Bitcoin is okay for now.If the goverment will not be a denominator of what you so called bitcoin bank that's good.
If ever there would be a bitcoin bank, maybe thats the time that goverment will have the control to bitcoin and the legallity takes place.
How exactly would the government have control of bitcoins at that time? There might build a bitcoin bank out there but we don't know if people are going to use it. I think only a really small amount of people would use it. Only those people that are dumb enough to get fooled by the government once again.
But the goverment will know our transactioin and they can control the increase of value of bitcoin.
Anyone can find out about our transaction right now. You can see that in the blockchain network. They can't increase the value of bitcoin just because they hold some people's bitcoins. Only way for them to increase the price is to buy bitcoins. And I think that increasing the value of bitcoins would be loss for them and gain for everyone else.
If the goverment will not be a denominator of what you so called bitcoin bank that's good.
There's already a bitcoin bank that doesn't have government as denominator. Oh, that's right! It's the bitcoin network itself.
I would prefer using a bitcoin bank just like I use coinbase and Xapo and my other offline banks. But if it restricts my use of bitcoins and keeps asking for information about my transactions, I wouldn't prefer that as my banks too never demand such information. Also, I don't see anything wrong in a bitcoin bank if it pays interest for holding coins just like other banks. It would be beneficial for those who just hold coins and don't want to spend them.
If ever there would be a bitcoin bank, maybe thats the time that goverment will have the control to bitcoin and the legallity takes place. But the goverment will know our transactioin and they can control the increase of value of bitcoin. So i do not prefer anymore for a bitcoin bank. Bitcoin is okay for now.If the goverment will not be a denominator of what you so called bitcoin bank that's good.
I don't think that it will be successful if bitcoin having a bank if were are going to use bank were just wasting time to withdraw it again if we needed i suggest to not to have bank this is not okay we can simply use bitcoin wallet like blockchain , and sell them into exchanger simple simply life.
We have our own wallet so we do not need bitcoin bank. Also bitcoin bank will just make some people monopolize bitcoin, that is not good. I hope more merchant adopt bitcoin as payment system so we do not need to convert it into fiat. Bitcoin as another currency accepted at each and every bank should be a valid solution. Face it there are no monopolys for currencies.
Bitcoin is in vain trying that, exactly the wrong approach, to be the one and only currency in existance. This approach is doomed from the beginnings.
I don't think that it will be successful if bitcoin having a bank if were are going to use bank were just wasting time to withdraw it again if we needed i suggest to not to have bank this is not okay we can simply use bitcoin wallet like blockchain , and sell them into exchanger simple simply life.
We have our own wallet so we do not need bitcoin bank. Also bitcoin bank will just make some people monopolize bitcoin, that is not good. I hope more merchant adopt bitcoin as payment system so we do not need to convert it into fiat. 
I do not think that we need it at all, we all ready have online wallets and I think that is okay and nothing more is needed.
I think that's not a problem, even if you do not need it, but it may be users out there will need them. I think it does not matter if it was made, you're free to use your wallet or bankPresent banks won't start transacting bitcoin, they might start implementation of bitcoin's backing technology. These day banks also running several Blockchain streams under trail to start their own digital currency.
I do not think that we need it at all, we all ready have online wallets and I think that is okay and nothing more is needed.
I think that's not a problem, even if you do not need it, but it may be users out there will need them. I think it does not matter if it was made, you're free to use your wallet or bankI do kinda agree that even though certain people don't like the idea (I am one of them) of having a so called Bitcoin bank, that there may be plenty of people liking it. That's why it's great to have the freedom to choose whichever service you want to make use of. But the main thought behind them liking such an initiative, is that they either earn interest over their coins, or that they get a feeling of fake security as they think it will be comparable to how traditional fiat banks operate. But then again, if these people like it, then so be it.
Xapo for example has no fees when sending bitcoin and it has a debit card that has many fees associated.
I don't think that it will be successful if bitcoin having a bank if were are going to use bank were just wasting time to withdraw it again if we needed i suggest to not to have bank this is not okay we can simply use bitcoin wallet like blockchain , and sell them into exchanger simple simply life.
Whether we like or not as long as the banking sector will see that they can get good advantage for building a bitcoin bank, they will push it. As we know banks are always running for the profit that they can get. It depends on your location if the banks in your place is not that too greedy enough and will charge every bitcoin transaction you got with a fee, only if there is an existing bitcoin bank.
I don't think that it will be successful if bitcoin having a bank if were are going to use bank were just wasting time to withdraw it again if we needed i suggest to not to have bank this is not okay we can simply use bitcoin wallet like blockchain , and sell them into exchanger simple simply life.
with the bank I believe bitcoin will be one of the financial payment media most widely used in the world. because with these conditions, bitcoin will become more reliable and also secure in every use.
Perhaps in a longest run,thats how really works even bitcoin bank.Everybody are already preferring using bitcoin and save it to bitcoin bank.I cant imagine if that happened,maybe more are on really focus and much time of hardwork to earned,mostly if it will always have a good value everyday.Those who save bitcoin have the security that it will be well protected. 
with the bank I believe bitcoin will be one of the financial payment media most widely used in the world. because with these conditions, bitcoin will become more reliable and also secure in every use.
I do not think that we need it at all, we all ready have online wallets and I think that is okay and nothing more is needed.
I think that's not a problem, even if you do not need it, but it may be users out there will need them. I think it does not matter if it was made, you're free to use your wallet or bank
The purpose of a Bitcoin Bank is twofold: security, and ideally some %interest back. The security is most important, I think what is holding back Bitcoin is people are fearful of being ripped off by an exchange, lose their wallet or whatever. When I have a $10k in the bank I have no fears the bank will lose my money... this is not the case with current bitcoin exchanges. We *really* need a reliable Bitcoin bank that is insured, and people can trust.
The problem is that banks are centralized, and Bitcoin is the opposite of that, so it would not make much sense to store Bitcoins in a centralized institution. With respect to exchanges, these are useful to trade, but these are not the best choices for storing Bitcoin. For this purpose there are different wallets, online or desktop, that allow you to store Bitcoins more safelyCould you explain your reasoning behind claiming that it wouldn't make much sense to store Bitcoins in a bank? Personally, I don't see how you can consider a bank as a centralized entity which alleged "centralization" would interfere with the decentralized nature of Bitcoin. Banks are as centralized as anything out there, i.e. companies or individual people. Really, what difference does it make in respect to Bitcoin decentralization if bitcoins are held in the wallet of an individual or a bank? As to me, it is essentially six of one and half a dozen of the other...
Or have you just heard somewhere that banks are centralized in some way, and that doesn't bode well for Bitcoin?
The purpose of a Bitcoin Bank is twofold: security, and ideally some %interest back. The security is most important, I think what is holding back Bitcoin is people are fearful of being ripped off by an exchange, lose their wallet or whatever. When I have a $10k in the bank I have no fears the bank will lose my money... this is not the case with current bitcoin exchanges. We *really* need a reliable Bitcoin bank that is insured, and people can trust.
The problem is that banks are centralized, and Bitcoin is the opposite of that, so it would not make much sense to store Bitcoins in a centralized institution. With respect to exchanges, these are useful to trade, but these are not the best choices for storing Bitcoin. For this purpose there are different wallets, online or desktop, that allow you to store Bitcoins more safely. Thinking about the idea of banks versus bitcoin itself, already makes bitcoins purpose worse. Bitcoin is created for the purpose of eliminating third parties, minimizing the information needed, public control, open ledger, etc. When you start to think like a bank, you will go back to the old way of transacting money. It's like Bitcoin exchanges, where they also have your personal information to change money, that's like WallStreet mixed with bitcoin. It's very different things and shouldn't be made or thought of
You are preaching exactly what Bitcoin itself is against (and what you started your post with). You can't have it both ways. If Bitcoin is about minimizing control, you can't possibly come out and say that these things shouldn't be made or thought of. If you are for free choice for everyone, then you should also accept that people might make their choice and you may not like it. In other words, you can't proclaim democracy and then refuse to obey what the majority forces you to do...
In short, things don't work that way
Thinking about the idea of banks versus bitcoin itself, already makes bitcoins purpose worse. Bitcoin is created for the purpose of eliminating third parties, minimizing the information needed, public control, open ledger, etc. When you start to think like a bank, you will go back to the old way of transacting money. It's like Bitcoin exchanges, where they also have your personal information to change money, that's like WallStreet mixed with bitcoin. It's very different things and shouldn't be made or thought of.
I think that a bitcoin bank can be good but it will be less more anonymous and I think due to that a lot of people will be against it.
The fact is also that we not really need it too.
The fact is also that we not really need it too.
As the government still cannot be able to completely impose a tax for bitcoin users , so if ever that bitcoin is already Centralized and Controlled by Organizations/Authority by Bitcoin Bank, would you still be using and supporting bitcoin ?
The answer to this question soon we will be able to know, China is working into a digital currencie, it will be centralized, and we will know more about it later, but we dont like centralization, but lets suppose those centralization will give you beneficts that with fiat you wont be able to get, lets say for each coin they will pay you a monthly interest like 2%, pretty sure all people will try to get the bigger ammount of coins with such thing.
I dont like the bitcoin bank because it will centralize too many coins and there is no way to make or force the bank to pay you those if they run away, and if they run they have a maximum ammount to refund their costumers.
Bitcoin bank idea seems worthless to me. Much better would be to ordinary banks start to work with bitcoin as with fiat and that's it. but for that bitcoin has to be decentralized.
I think that a bitcoin bank can be good but it will be less more anonymous and I think due to that a lot of people will be against it.
The fact is also that we not really need it too.
The fact is also that we not really need it too.
As the government still cannot be able to completely impose a tax for bitcoin users , so if ever that bitcoin is already Centralized and Controlled by Organizations/Authority by Bitcoin Bank, would you still be using and supporting bitcoin ?
The answer to this question soon we will be able to know, China is working into a digital currencie, it will be centralized, and we will know more about it later, but we dont like centralization, but lets suppose those centralization will give you beneficts that with fiat you wont be able to get, lets say for each coin they will pay you a monthly interest like 2%, pretty sure all people will try to get the bigger ammount of coins with such thing.
I dont like the bitcoin bank because it will centralize too many coins and there is no way to make or force the bank to pay you those if they run away, and if they run they have a maximum ammount to refund their costumers.
I think that a bitcoin bank can be good but it will be less more anonymous and I think due to that a lot of people will be against it.
The fact is also that we not really need it too.
yes that is the problem which stop people thinking about bitcoin banks. to me bitcoin banks will be convenience in future when the number of bitcoin users will increase. i think at at that time the physical banks will also start accepting bitcoins. The fact is also that we not really need it too.
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