I don't agree with the idea of bitcoin bank, it would be also anonymous since government is not controlling it. I don't want to trust my coins with them, there is a possibility that will steal it just like of HYIP programs. It is enough for me that I'm the only one have the full control of my bitcoins.
but to me i think it can only be possible if people government recognize bitcoin as legal currency, otherwise bitcoin banking system my not be more effective as government will not issue NOC to non recognize system. 
Topic: Do you agree with idea "Bitcoin bank" ? - page 85. (Read 142276 times)
If this will be hack proof then why not and also if no government will be part of it then much better. The drawbacks is that your information might leak offline or online and government will cease the operation once the bank would not help the government on some information seeking, for example, the CIA will conduct some spying or surveillance on a specific IP or person.
Bank also give out loans. Since bitcoin banks would have physical banks and you have to be physically present to get a loan, maybe it's okay for them to give out loans even if you can actually be pseudonymous in the bitcoin world since they know everything about your whereabouts.
This is not going to happen any time soon
Personally, I'm inclined to think that Bitcoin banking services will be offered by regular banks when Bitcoin gets universally accepted at least as a foreign currency. But given Bitcoin volatility it is hardly possible that they would be giving out loans in bitcoins. For example, they loan 1,000 bitcoins and take collateral valued at 1000*900=900k dollars at current Bitcoin price, and then Bitcoin price surges to 2,000 dollars per coin. Obviously, the borrower would be more than happy to keep borrowed bitcoins and forget about the collateral just because he could buy what he offered as collateral and still have 1,000 bitcoins after that
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.
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.
you're misunderstanding about Bitcoin, Bitcoin does not belong to an organization or individual managers, banks can not Bitcoin, only for it to keep Bitcoin, Banks can only support payment functions
I don't agree with the idea of bitcoin bank, it would be also anonymous since government is not controlling it. I don't want to trust my coins with them, there is a possibility that will steal it just like of HYIP programs. It is enough for me that I'm the only one have the full control of my bitcoins.
Actually I really don't see what is going to be the difference between a bank and a local exchange where you sold your coins for fiat... They have a transaction that they could send your money to a bank, to a remittance, or in any card where you want to put your cash out... They also supply you with coins if you want to buy... What more can we ask for in an exchange?
It's a difference that makes the difference
With Bitcoin banks as new service offered by regular banks, you would be able to convert your bitcoins to fiat and pay for goods with the fiat thus obtained from the same place (just like many people do today through Internet banking). Or you can pay directly with bitcoins if the seller is willing to accept them. I guess in this respect Bitcoin banks could be useful and by far more handy than currency exchanges
I don't agree with the idea of bitcoin bank, it would be also anonymous since government is not controlling it. I don't want to trust my coins with them, there is a possibility that will steal it just like of HYIP programs. It is enough for me that I'm the only one have the full control of my bitcoins.
Actually I really don't see what is going to be the difference between a bank and a local exchange where you sold your coins for fiat... They have a transaction that they could send your money to a bank, to a remittance, or in any card where you want to put your cash out... They also supply you with coins if you want to buy... What more can we ask for in an exchange?
I don't agree with the idea of bitcoin bank, it would be also anonymous since government is not controlling it. I don't want to trust my coins with them, there is a possibility that will steal it just like of HYIP programs. It is enough for me that I'm the only one have the full control of my bitcoins.
I'm not sure about having a bitcoin bank. What would the bank do if at present we can do any transactions with bitcoin. Exchange center are already available so we can exchange our money to bitcoin.
Banks are there for the safety of our money. Maybe that's what the bitcoin banks would do as well. There are still people here that don't know how to make their bitcoin wallets as safe as it could be. They would prefer to avail a bitcoin bank than to study it on their own. It would only take an hour or two to completely understand the whole thing. Even shorter if you're smart.
Bank also give out loans. Since bitcoin banks would have physical banks and you have to be physically present to get a loan, maybe it's okay for them to give out loans even if you can actually be pseudonymous in the bitcoin world since they know everything about your whereabouts.
I don't agree with the idea of bitcoin bank, it would be also anonymous since government is not controlling it. I don't want to trust my coins with them, there is a possibility that will steal it just like of HYIP programs. It is enough for me that I'm the only one have the full control of my bitcoins.
I'm not sure about having a bitcoin bank. What would the bank do if at present we can do any transactions with bitcoin. Exchange center are already available so we can exchange our money to bitcoin.
no i dont agree with bitcoin bank at all.bitcoins have been made so that there are no banks at all .with banks coming into action there will be political parties involved with it which is not acceptable at all to me .thats y i suggest i don care about bitcoin banks at all.
I think the banks made are not all of government, perhaps also from third parties that avoid political. but it is not the case, because when you're using bitcoin bank, then your identity will be known? yeah it risks
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
How can it be the best idea for Newbies? When Bitcoin Wallets itself proved that it is safe to hold your money there. And the idea that Bitcoin will be more legalized because they are banks for them is wrong. Because if it is illegal Banks won't accept it in the first place as for following rules and laws of their country. Also Banks don't buy and sell your currency they hold it and loan it out. Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
Because bitcoin banks would most likely be owned by the government and would require some personal details which assures that you can get your money even when you lost your private keys or you encounter problems on your account.
But I really think that a complete newbie should be encouraged to learn how to make your bitcoin wallet safe and not depend on these bitcoin banks. Although they don't exist right now, I'm sure that if someone would create a bitcoin bank, it might run away as well or get hacked once they hold a good amount of bitcoins.
How many regular banks do you know that are owned by the government? The banks are mostly either privately or publicly owned, so I don't think it will be different in respect to Bitcoin banks. Regarding losing your private keys, that would be impossible since the private keys from your account in such a bank will be held by the bank itself. And there is absolutely no reason to think that Bitcoin banks would be running away more often than web wallets do now...
Especially if they are to be owned by the government as you assume
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. 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
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 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!
The difference is abysmal
In fact, you may feel whatever you might want to feel, but it doesn't matter. The difference that I'm talking about is that adults bear full responsibility for their actions and the consequences of these actions while kids don't (their parents and legal guardians do). In this way, your reference to Bitcoin users as kids which should be guarded is inconsequential at best. In other words, if you choose to treat these users as kids, you should also accept responsibility for their actions and financial losses incurred therewith
So beside this problem i obviously do not talk about real children. It is more like the children are all the people living in a nation. That does not matter as there are also rules, or call them Law if you prefer that, for adults. Some of them are to protect others, some are rules on how to behave and there are also rules just to protect the individual from making something stupid that would result in unnecessary hardship or worse.
Sure we could give everybody full freedom of choice. In Bitcoin and in life, but for many this would end bad and i am also sure that the first thing that would happen is that we would start to look and use new rules one can live by. This is just a world i do not want to live in.
By the way there are two types of consequences. A direct and natural one. If i cut my finder of, then it is gone and nobody can take the consequences of not having a finger for me. The other one is more complex one. In case some damage is done and it is of financial nature, then a consequence could be to reinstate the damage. This is something that someone could take over and do for you. But it is a common misconception, that parents are financially responsible for the damages there kids have done. This is a complex matter and depends on the law of your country, but unless i support or do not stop the wrong doings of my children i am not responsible for it.
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
How can it be the best idea for Newbies? When Bitcoin Wallets itself proved that it is safe to hold your money there. And the idea that Bitcoin will be more legalized because they are banks for them is wrong. Because if it is illegal Banks won't accept it in the first place as for following rules and laws of their country. Also Banks don't buy and sell your currency they hold it and loan it out. Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
Because bitcoin banks would most likely be owned by the government and would require some personal details which assures that you can get your money even when you lost your private keys or you encounter problems on your account.
But I really think that a complete newbie should be encouraged to learn how to make your bitcoin wallet safe and not depend on these bitcoin banks. Although they don't exist right now, I'm sure that if someone would create a bitcoin bank, it might run away as well or get hacked once they hold a good amount of bitcoins.
no i dont agree with bitcoin bank at all.bitcoins have been made so that there are no banks at all .with banks coming into action there will be political parties involved with it which is not acceptable at all to me .thats y i suggest i don care about bitcoin banks at all.
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. 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
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 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!
The difference is abysmal
In fact, you may feel whatever you might want to feel, but it doesn't matter. The difference that I'm talking about is that adults bear full responsibility for their actions and the consequences of these actions while kids don't (their parents and legal guardians do). In this way, your reference to Bitcoin users as kids which should be guarded is inconsequential at best. In other words, if you choose to treat these users as kids, you should also accept responsibility for their actions and financial losses incurred therewith
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
What? buying in selling bitcoin is more convenient in exchanges, I couldn't imagine how will a bank function and it's only function is buy and sell and lending bitcoin. Legalization of bitcoin isn't going to happen easy and if it does, it won't be smooth. For sure, along that legalization and banks, regulation will start, which is I think many would not like as it is against the bitcoin's idea.
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
How can it be the best idea for Newbies? When Bitcoin Wallets itself proved that it is safe to hold your money there. And the idea that Bitcoin will be more legalized because they are banks for them is wrong. Because if it is illegal Banks won't accept it in the first place as for following rules and laws of their country. Also Banks don't buy and sell your currency they hold it and loan it out. Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
How can it be the best idea for Newbies? When Bitcoin Wallets itself proved that it is safe to hold your money there. And the idea that Bitcoin will be more legalized because they are banks for them is wrong. Because if it is illegal Banks won't accept it in the first place as for following rules and laws of their country. Also Banks don't buy and sell your currency they hold it and loan it out. Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
it is best idea because the newcomers in Bitcoin always need to make the buy and sell simple and easy , for this Bitcoin bank will prove good .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
Secondly I think the idea of Bitcoin bank will make Bitcoin more legalised .
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