Do you agree with idea "Bitcoin bank" ? - page 82.

hollandvan

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Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

This will make more and more ponzi scams, they pretend to offer bank service, but actually it is good for the community, more bank will join the money feast.

agamasrori

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Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

Yes I agree with you, I do not see any advantage of bitcoin bank, it is just make some people control bitcoin. The decentralization is good for us. So we don't need bitcoin bank.

Ravion

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Quote from: Senor.Bla on December 22, 2016, 07:56:30 PM

Quote from: deisik on December 22, 2016, 11:25:13 AM

Quote from: Senor.Bla on December 22, 2016, 10:52:42 AM

Quote from: deisik on December 22, 2016, 10:27:01 AM

Quote from: Senor.Bla on December 22, 2016, 09:27:12 AM

Quote from: deisik on December 22, 2016, 09:02:11 AM

So you basically don't know?

From what I read here, lending bitcoins is more like playing Russian roulette. I guess you wouldn't call gambling as a business unless you are a casino owner yourself? If you are a borrower, Bitcoin banks would obviously require real collateral. In this way, on the one hand, borrowers will be discouraged from defaulting on their loans, and, on the other hand, deposits in such banks will be protected by proper collateral. In respect to everybody being be able to learn all they need to know to be independent, most ordinary people can't even install MS Office without help, let alone manage their desktop Bitcoin wallet

It is quite simple. If you are borrowing money to someone and do not get it back and also have no collateral, then you are doing something wrong. You should change something or let it go and stop lending money. Learn or leave eave the business to people who can do it profitable.
And do you really think people are to dumb to install Office? All they need is some proper training. Some are maybe to lazy or whatever, but everybody can learn it. If people have to they manage. If your life depended on the ability to swim, then you would learn it for sure. Were you born with the knowledge how to cross a street or did you first had to learn it? Just like most of us had to learn how to use a bank account, credit cards and stuff like that.

You analyze this situation in isolation

It is not about if people can or cannot learn something (they sure can if properly motivated). The question is basically about choice, not learning as such. If they can use web wallets and they don't need to install some abstract MS Office, the process which they likely don't consider as worth the effort, they will most likely choose the first option. I'm heavily inclined to think that if there were no web wallets, many people wouldn't use Bitcoin at all

For me web wallets and banks are not necessarily the same thing.
Giving people a choice is not always a good idea. We teach our kids math in school, because if given the choice most would rather play outside. But those kids would have a big problem later in life. So sometimes it is ok to force someone to learn something, but this is just my opinion. I think if you ask somebody if he is glad that he was forced to learn math or the use of desktop wallets, then most would agree.

Obviously, we are not talking about kids

But the assumption that giving adult people choice is not always a good idea itself works against your own considerations. First, who is to decide what is best and what is not, what is to be chosen and what is to be abandoned? Second, I could just as well claim that giving people choice in respect to which money to use (fiat or Bitcoin) is a bad idea on its own as well, and they should just stick to fiat (then see first). And last but certainly not least, isn't Bitcoin itself all about having choice?

I feel like a deal with kids all the time in the crypto world.
I imagine that we gave children choices at the beginning, but they fucked it up so bad, that we decided it would be better to give them rules. And what is the best sign that someone has become an adult? They break our rules, because they see a better way that goes against the rules and still decide to break the rule and make a new and better one. In my opinion this is why we call Bitcoin a revolution!

What will banks charge for providing Bitcoin accounts? What Bitcoin related services will they be charging fees for? How will banks entice customers to pay the fees for these services? I wrote about this before. They could either charge fees for extra security features (for deposits and perhaps for Bitcoin transactions), or they could guarantee deposits up to certain amounts (the government would have to do this). But this also means that bitcoin accounts will be taxed. And it also means that the accounts can't be anonymous.

cinchin

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Quote from: Labumi on January 01, 2017, 10:15:52 AM

Quote from: Positid on January 01, 2017, 09:18:53 AM

Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

Don't worry it will not happen, bank is only for people who like to support a centralized system, bitcoin is the complete opposite, so it's close to impossible.

Hmm, but it might give bad impact to the bank if all switch using bitcoin. But I can not ensure that everybody will use the bitcoin, because until now the bitcoin only held by individuals and any loss will surely be borne by an individual in which they could not report on the police, because it is bitcoin until now is not an official currency and the police can not restore those funds since the system bitcoin untraceable and taken over

banks will not accept bitcoin,why?.Because they not control bitcoin,they don't create it,how they can accept something they do not control?
Bitcoin is only one solution to the payment,emphasize "solution".Banks will not accept bitcoin until bitcoin proves value of it

deisik

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Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

This is debatable if not outright impossible

Many web wallets are also providing currency exchange operations, but this doesn't make Bitcoin exchanges obsolete in any way. In trading, you sell to and buy from other traders while when you convert currencies in a bank, you are dealing with the bank exclusively. The bank won't sell or buy if it can't guarantee profits to itself, that's why the spreads that the bank sets are simply incomparable with the exchange spreads which can be however small. So I really doubt that your friends are real traders or you didn't think them up at all

Labumi

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Quote from: Positid on January 01, 2017, 09:18:53 AM

Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

Don't worry it will not happen, bank is only for people who like to support a centralized system, bitcoin is the complete opposite, so it's close to impossible.

Hmm, but it might give bad impact to the bank if all switch using bitcoin. But I can not ensure that everybody will use the bitcoin, because until now the bitcoin only held by individuals and any loss will surely be borne by an individual in which they could not report on the police, because it is bitcoin until now is not an official currency and the police can not restore those funds since the system bitcoin untraceable and taken over

Doamader

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This is a non sense idea, bitcoin its decentralized, doing such we will centralize our coins into one single person, that could easy manipulate the trading market and possible kill it, soo without any income from trading people would try to find other ways to get an income with bitcoin. This is something i do hope wont happen, this will destroy the freedom that bitcoin does allow to all, if you searching for interest of your coins try poloniex lending, or lend here with a colateral always rule.

Positid

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BULL RUN until 2030

Quote from: hajimasan on January 01, 2017, 08:16:31 AM

I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

Don't worry it will not happen, bank is only for people who like to support a centralized system, bitcoin is the complete opposite, so it's close to impossible.

hajimasan

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I am fully disagree with the Bitcoin bank idea . Because if it goes successfully comes then it will destroy the job of many bitcoin trader . In my friends circle many of friends who are trader of bitcoin are in fear to loss job .
Because after comes of bitcoin bank people will make buy directly , and bank will make profit .

pinoycash

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On my personal opinion, the way how bitcoin is stored i dont need a bank to store my BTC, i trust my self more in handling my BTC. for as long as there are exchange website operating to handle BTC transaction i dont need a BTC bank

gredisgold88

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i'm not sure yet, because no one knows how long life btc , but i hope btc can long life :-)

deisik

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Quote from: Wapinter on January 01, 2017, 07:30:44 AM

Bitcoin bank is the most stupidest idea.What purpose would it serve?Storing our bitcoin? but we already have wallets for this.
Giving out loans and pay us interest? but wouldn't that be too risky with bitcoin?

With proper collateral this shouldn't be a big issue

Though I agree that if Bitcoin price was set to rise a few times, say, in a year, the borrower might not want to return the loan since he could probably buy with his now expensive bitcoins twice as much what he pledged as collateral to the bank. On the other hand, in wartime many countries, which are not actively participating in warfare themselves, often loan to belligerent countries, though it is perfectly clear that if a country loses a war, the loan won't be paid back (see Lend-Lease)

Wapinter

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Hire me for Bounty Management

Bitcoin bank is the most stupidest idea.What purpose would it serve?Storing our bitcoin? but we already have wallets for this.
Giving out loans and pay us interest? but wouldn't that be too risky with bitcoin?

deisik

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Quote from: avikz on January 01, 2017, 02:23:37 AM

No, I do not agree with the idea of a bitcoin bank. Who will be the authority of the bank?? That is a big question. For a currency which is decentralized and anonymous in nature, bank is not a good idea. While bitcoin is trying to break the conventional rules, people are trying to wrap it within the conventional banking system!

Let bitcoin remain as it is and don't try to make it look like any other conventional currency, because if it happens, bitcoin will loose its charm.

If Bitcoin remained the same as it had been at its inception, we would most likely still see the price in single digits. I understand why people disagree to the idea of a Bitcoin bank, but if we are to be honest, we should agree that the difference between Bitcoin web wallets and Bitcoin banks would be insignificant in respect to the authority that you refer to. So if you are to remain honest, you should be against these wallets as much as against such banks. Besides, if we further follow the policy of truth, we should as well admit that web wallets in fact greatly contributed to Bitcoin popularity and its wider adoption...

But isn't the latter what the most violent and orthodox Bitcoin supporters are looking for?

Bitcoinpro

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Quote from: Harlot on January 01, 2017, 03:14:35 AM

Quote from: Bitcoinpro on January 01, 2017, 03:10:44 AM

Yes Bitcoin is a hedge against inflation, it does bypass banks

though a Bank is getting a third party to hold and insure your

coin, just as with Fiat

Even though it can give a edge on inflation or even if the bank accepted that Bitcoin is better than Fiat one thing always hinders it for happening and it is the Government. Our government is in charge for the circulation of our official currency and all banks are only allowed to accept their own currency or sometime US $ currency other than that they won't recognize it as acceptable money.

Banks historically have held lots of different types of assets for customers as they

have gigantic well guarded safes, while your argument sounds very good

I think we all agree it's the banks pushing back because they can leverage

print deposits, though in this day and age knowledge and power is becoming

more fluid and obscure each day

Harlot

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Quote from: Bitcoinpro on January 01, 2017, 03:10:44 AM

Yes Bitcoin is a hedge against inflation, it does bypass banks

though a Bank is getting a third party to hold and insure your

coin, just as with Fiat

Even though it can give a edge on inflation or even if the bank accepted that Bitcoin is better than Fiat one thing always hinders it for happening and it is the Government. Our government is in charge for the circulation of our official currency and all banks are only allowed to accept their own currency or sometime US $ currency other than that they won't recognize it as acceptable money.

Bitcoinpro

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Yes Bitcoin is a hedge against inflation, it does bypass banks

though a Bank is getting a third party to hold and insure your

coin, just as with Fiat

genos

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Any store can buy, sell, and accept Crypto

Quote from: avikz on January 01, 2017, 02:23:37 AM

No, I do not agree with the idea of a bitcoin bank. Who will be the authority of the bank?? That is a big question. For a currency which is decentralized and anonymous in nature, bank is not a good idea. While bitcoin is trying to break the conventional rules, people are trying to wrap it within the conventional banking system!

Let bitcoin remain as it is and don't try to make it look like any other conventional currency, because if it happens, bitcoin will loose its charm.

Quite sure the new modern concept of currency that bitcoin is good development. didn't need bank for bitcoin because it can work free and full of handle by user with bank.

deppil

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Quote from: noormcs5 on December 25, 2016, 09:00:47 AM

Quote from: BrockHunter on December 20, 2016, 01:47:03 PM

No I do not think that we need something like that because of the fact that its something that is not needed for us right now.

I guess looking forward for the future of bitcoin, I think this s good idea to have a Bitcoin Bank but then the process must be like as we have now, where we can access to bitcoin as fast as we can not like what we have bank now.

I think using the wallet will be much easier and faster. you can also pull all bitcoin directly. maybe you can not do that with bitcoin bank. but to variations made bitcoin bank is not a problem

avikz

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No, I do not agree with the idea of a bitcoin bank. Who will be the authority of the bank?? That is a big question. For a currency which is decentralized and anonymous in nature, bank is not a good idea. While bitcoin is trying to break the conventional rules, people are trying to wrap it within the conventional banking system!

Let bitcoin remain as it is and don't try to make it look like any other conventional currency, because if it happens, bitcoin will loose its charm.

Topic: Do you agree with idea "Bitcoin bank" ? - page 82. (Read 142276 times)