Topic: Do you agree with idea "Bitcoin bank" ? - page 95. (Read 142276 times)
The main reason why there is a bitcoin bank exist today is because they know that they can profit from it as long as there are people using their platform, it's all about money and business, no more no less.
I dont see the big interest into this, at all, soo you wanna centralizate bitcoin, because use a bank will make this happen, you will loose freedom and will be forced to follow their rules, and restrictions, like weekend no transactions. If its interest you searching there is already this service here at the forum as well some reputable exchanges.
What the fuck are you talking about?
Banks in no way can centralize Bitcoin. Purely hypothetically they might accumulate enough bitcoins which could be loosely interpreted as a sort of centralization, but this is hardly ever possible given that Bitcoin superwhales don't look as if they were going to part with their stashes soon. Other than that, no one forces you to use Bitcoin bank services should such services appear in the future
Ofcourse no one can force someone to use a bank for storing their bitcoins as long as everyone has their own coins stored in their own wallets, because bitcoins gives us a financial freedom which means we are our own banks, so even if the concept of bank comes into being, we are still the owner of our choices.
I dont see the big interest into this, at all, soo you wanna centralizate bitcoin, because use a bank will make this happen, you will loose freedom and will be forced to follow their rules, and restrictions, like weekend no transactions. If its interest you searching there is already this service here at the forum as well some reputable exchanges.
What the fuck are you talking about?
Banks in no way can centralize Bitcoin. Purely hypothetically they might accumulate enough bitcoins which could be loosely interpreted as a sort of centralization, but this is hardly ever possible given that Bitcoin superwhales don't look as if they were going to part with their stashes soon. Other than that, no one forces you to use Bitcoin bank services should such services appear in the future
I dont see the big interest into this, at all, soo you wanna centralizate bitcoin, because use a bank will make this happen, you will loose freedom and will be forced to follow their rules, and restrictions, like weekend no transactions. If its interest you searching there is already this service here at the forum as well some reputable exchanges.
Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust
On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins. People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.
If this type of trends persist, bitcoin banks will be inevitable.
They are not lazy overall
It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets
I don't think also that there is a need for physical bank. Wallets alone can do what banks can do. There will be no use for banks other than the transmitting and cashing out of btc.
Banks earn by borrowing money from their clients and lending that money to their borrowers. At least, that's how Bicoin banks are supposed to work (since fiat banks don't need deposits to loan out money in the first place). And while borrowing money by banks is perfectly possible online, lending is a different story, though. Banks (whether it is Bitcoin or fiat banks) need a real collateral, they wont't be content if you offer them some shit coin as security for repayment the loan...
That seems to be the prime reason why Bitcoin banks cannot be completely online businesses
Well for me, I am not quite sure if I agree to the idea bitcoin bank or not. If there would be interest in investing my bitcoin there like normal banks do, why not use it I might as well agree with it but if it is also like the old banks where I have to submit requirements and verify my identity to them, then I guess I might disagree with the idea bitcoin bank since bitcoin is created to have anonymity in paying online.
Nothing would change, it's still the same system. I do not really get what it means to have a bitcoin bank when we can save our money in our wallet and transact anytime we want. In the real world, we need bank to do it but with the advent of bitcoin that can be possible to do banking even without bank intervention.I use Coinbases Shift card so I but BTC and use the Visa card anywhere i want. If more of my bills accepted BTC I would set up monthly payments on coinbase. I'll close my 'normal' bank account if/when that happens.
My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.
Let's remain realists
We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins
My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.
do i want someone else handling my money? no! do i think someone else can handle my money faster/better? maybe faster, maybe better and even maybe safer, but i do not want to be looking for such a person, because they also have to be trustworthy.
Let's remain realists
We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins
sorry, i do not understand you. you use coinbase to pay your bill if i understood this right and you habe your savings invested in an altcoin that earns you an interest rate of 5%?
for me the important question is: are you in charge of your money or do you depend on other people? can the take your money rightful/unrightful or cut you off?
I can't pay all bills yet. from coinbase.
The altcoins are in my local wallet doing POS Proof of stake. It's kind of like mining. My Balance grows ~5% a year. No central server to steal from. Of course the coin could become worthless but so can USD. Also this some savings not my life savings or retirement account. some risk but good reward also.
Well for me, I am not quite sure if I agree to the idea bitcoin bank or not. If there would be interest in investing my bitcoin there like normal banks do, why not use it I might as well agree with it but if it is also like the old banks where I have to submit requirements and verify my identity to them, then I guess I might disagree with the idea bitcoin bank since bitcoin is created to have anonymity in paying online.
Nothing would change, it's still the same system. I do not really get what it means to have a bitcoin bank when we can save our money in our wallet and transact anytime we want. In the real world, we need bank to do it but with the advent of bitcoin that can be possible to do banking even without bank intervention.
Well for me, I am not quite sure if I agree to the idea bitcoin bank or not. If there would be interest in investing my bitcoin there like normal banks do, why not use it I might as well agree with it but if it is also like the old banks where I have to submit requirements and verify my identity to them, then I guess I might disagree with the idea bitcoin bank since bitcoin is created to have anonymity in paying online.
Nothing would change, it's still the same system. I do not really get what it means to have a bitcoin bank when we can save our money in our wallet and transact anytime we want. In the real world, we need bank to do it but with the advent of bitcoin that can be possible to do banking even without bank intervention.
Well for me, I am not quite sure if I agree to the idea bitcoin bank or not. If there would be interest in investing my bitcoin there like normal banks do, why not use it I might as well agree with it but if it is also like the old banks where I have to submit requirements and verify my identity to them, then I guess I might disagree with the idea bitcoin bank since bitcoin is created to have anonymity in paying online.
People would surely not tend to put up their bitcoin on a bitcoin bank because they will surely prefer to use their own wallet and have the control on their money compare on putting up into a bitcoin bank which is something unusual thing to do snce there are lots of wallets out there to choose from and why we should need the use of banks.
that is right about people who are familiar with bitcoin right now and have made themselves a wallet and also know how to make it secure enough.
but those people who are new and want to start using bitcoin surely prefer a bank, somewhere that is already familiar for them because they have been using them for their whole life.
We use bank for our savings because we trust it but we risk our money for investment in bitcoin because we believe the future is looking good.
People would surely not tend to put up their bitcoin on a bitcoin bank because they will surely prefer to use their own wallet and have the control on their money compare on putting up into a bitcoin bank which is something unusual thing to do snce there are lots of wallets out there to choose from and why we should need the use of banks.
that is right about people who are familiar with bitcoin right now and have made themselves a wallet and also know how to make it secure enough.
but those people who are new and want to start using bitcoin surely prefer a bank, somewhere that is already familiar for them because they have been using them for their whole life.
Actually the old banking schemes has become obsolete, and the bitcoin ecosystem by itself has the enough capability to replace it, that is why I think it seems a contradictory idea trying to unite the old system with the revolutionary concept of bitcoin. On the contrary, banks tend to emulate the great advantages of the blockchain.
I wouldn't completely write off the idea of Bitcoin banks
Despite being old and somewhat old-fashioned, banks are quite adaptive, and, as I said ealier in the thread, there are no particular issues with banks offering Bitcoin services, including but not limited to accepting bitcoins on deposits and lending them out. But that's not all. Since people tend to trust banks on the whole, Bitcoin banks would add greatly to Bitcoin popularity and adoption. That's why such banks might be quite useful to Bitcoin after all
Actually the old banking schemes has become obsolete, and the bitcoin ecosystem by itself has the enough capability to replace it, that is why I think it seems a contradictory idea trying to unite the old system with the revolutionary concept of bitcoin. On the contrary, banks tend to emulate the great advantages of the blockchain.
i think bitcoin bank is very important for the success and popularity of bitcoin, if bitcoin become in physical shape then bitcoin bank is good idea for bitcoin and i am sure that bitcoin will soon become in physical and then we can be use our bitcoin in local shops .
it could happen if the government recognize bitcoin as a currency and if bitcoin become in physica shape maybe there will be a tax on bitcoin, and the possibility of bitcoin can be used in very small local store 
Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust
On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins. People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.
If this type of trends persist, bitcoin banks will be inevitable.
They are not lazy overall
It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets
I don't think also that there is a need for physical bank. Wallets alone can do what banks can do. There will be no use for banks other than the transmitting and cashing out of btc.
I use Coinbases Shift card so I but BTC and use the Visa card anywhere i want. If more of my bills accepted BTC I would set up monthly payments on coinbase. I'll close my 'normal' bank account if/when that happens.
My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.
Let's remain realists
We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins
My savings are in a altcoin (NAV) that I like that stakes 5% much better than my banks interest rate.
do i want someone else handling my money? no! do i think someone else can handle my money faster/better? maybe faster, maybe better and even maybe safer, but i do not want to be looking for such a person, because they also have to be trustworthy.
Let's remain realists
We don't yet have any real Bitcoin banks yet, but people are already using web wallets like Coinbase or Xapo and trusting their money to someone else. How come? Because they don't want to get into all the gory details of installing a desktop wallet and risking losing their hard-earned coins due to a misconfiguration, hardware failure or virus attack. Or they themselves doing something stupid with their wallet and coins
sorry, i do not understand you. you use coinbase to pay your bill if i understood this right and you habe your savings invested in an altcoin that earns you an interest rate of 5%?
for me the important question is: are you in charge of your money or do you depend on other people? can the take your money rightful/unrightful or cut you off?
I can't pay all bills yet. from coinbase.
The altcoins are in my local wallet doing POS Proof of stake. It's kind of like mining. My Balance grows ~5% a year. No central server to steal from. Of course the coin could become worthless but so can USD. Also this some savings not my life savings or retirement account. some risk but good reward also.
They are not lazy overall
It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets
Bitcoin cannot definitely work in a banking system, for a fact that if they do accept Bitcoin, they won't have any use to it. One way on how the banks earn money is by loaning your money. Do you think a person that goes to a bank will request for a loan of a heft amount of Bitcoin? I guessed not because they will have a hard time finding people who will accept that kind of currency.It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets
There is not a single reason why Bitcoin couldn't work in a banking system
Indeed, you can always say that while there are no Bitcoin banks around, we can't make any definitive conclusion, but the truth is we don't need genuine Bitcoin banks to prove your point wrong. Asserting that Bitcoin cannot work in a banking system is essentially equal to claiming that gold cannot work in a banking system either. But latter claim would be obviously false since in the 19th century a lot of banks had been using gold in pretty much the same way as they might have been using Bitcoin today. You may want to read more about so-called Free Banking Era
i think bitcoin bank is very important for the success and popularity of bitcoin, if bitcoin become in physical shape then bitcoin bank is good idea for bitcoin and i am sure that bitcoin will soon become in physical and then we can be use our bitcoin in local shops .
Coinbase has recently reported that they have almost 5 million wallets. Even if we make allowance for the fact there well may be duplicates, it is still a lot more than half a million active Bitcoin users as of today. But Coinbase is not the only pebble on the beach, there are a few other strong web wallets out there. As to me, there would little difference between these web wallets and Bitcoin banks should they really appear, at least, in respect to trust
On seeing these much success of web wallets, why not we just conclude people are still looking for a banking systm even with their bitcoins. People are seeming too lazy to understand the core concepts of bitcoin ecosystem and they want bitcoin similar to the traditional banking system or similar to other online payment processing system.
If this type of trends persist, bitcoin banks will be inevitable.
They are not lazy overall
It simply doesn't make sense to get into all these gory details about Bitcoin setup. If there were nothing else but Bitcoin and no web wallets hanging around, folks would have to learn the Bitcoin basics lest they should lose money. But since there are already fiat banks and Bitcoin web wallets, why should they give a fuck about personal wallets? Other than that, ordinary people are not tech-savvy on the whole but wise enough to understand that they might not be able to properly set up and secure their personal wallets
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