Topic: Is there an actual Bitcoin bank yet? - page 2. (Read 6193 times)
I think Andreas Antonopoulus and a company I don't recall right now are working on something like this but maybe I remember uncorrectly.
the blockchain is the bank
Can you borrow from blockchain directly?
He doesnt mean it that way. What I get from his words is blockchain can be bank because we can store all of our bitcoin in there and make any
payments so it has most the same function as bank. It doesnt mean that you can directly borrow that from blockchain. Its just literally
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
Yes, but i dont really see bank as you do. For me bank is some place where i can save money and get interests for it. And when i need money i borrow it.
And only this way OP question makes sense.
For me bank is not a network with which i can pay my bills and where i have transferred my incomes. This network part is what Bitcoin is substituting.
That is my thought. Bitcoin is like cash, blockchain enables it.
Bitcoin is not like cash, it is more like you own bank account, you can pay like it was cash or pay like it is your account from which you can pay your bills, there is no interest, but what point is interest on your savings if you want to make a debt on the other hand? You pay more interest on the debt than you ever will recieve on you savings, so you are eating up your savings for what? Only for the banks own interest. You save more by having no debt then money on a savings account ever will bring up
That's right in the traditional understanding of a bank. However, a Bitcoin-bank could adopt existing ways of lending, combined with a good due diligence, therefore the community could be the lender.
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
Yes, but i dont really see bank as you do. For me bank is some place where i can save money and get interests for it. And when i need money i borrow it.
And only this way OP question makes sense.
For me bank is not a network with which i can pay my bills and where i have transferred my incomes. This network part is what Bitcoin is substituting.
That is my thought. Bitcoin is like cash, blockchain enables it.
Bitcoin is not like cash, it is more like you own bank account, you can pay like it was cash or pay like it is your account from which you can pay your bills, there is no interest, but what point is interest on your savings if you want to make a debt on the other hand? You pay more interest on the debt than you ever will recieve on you savings, so you are eating up your savings for what? Only for the banks own interest. You save more by having no debt then money on a savings account ever will bring up
It is the price of the houses that is wrong. The idea to spend what you do not have is wrong but it has been brought upon us by the banks as a right, creditcards are an easy way to bind people to the banking system and building debt upon debt. DO NOT DO IT!!
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
So no answer to my questions then?
Your question being? 1. Wanting to spend money you do not have? Using a CC with 0% interest? Do you not pay for you CC usage?
2. buying a house of more than your annual income?
I thought I said it: "The idea to spend what you do not have is wrong but it has been brought upon us by the banks as a right, creditcards are an easy way to bind people to the banking system and building debt upon debt. DO NOT DO IT!!"
If you really need money that bad you cannot wait lend it from family. But at first look at why you do not have the money to spend and if you really need to spend it!
the blockchain is the bank
Can you borrow from blockchain directly?
the blockchain is the bank
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
With banking system we can easily convert it bitcoin to fiat or otherwise and with bank we can easily take our bitcoin everywhere and may be can use it
for some stores that accept this kind of payment so it will useful and that is one of the easiest way to get your own bitcoin
This can be done already with tons of ATM machines that support apps like BTCPoint o Bit2me:
http://www.coindesk.com/bitcoin-bit2me-enables-immediate-cash-withdrawals-across-its-atm-network/
Too bad in my country there are none yet, but I hope it arrives. I also hope they keep it commission free, otherwise no one will use this. Hope as well they respect privacy, or they will go bankrupt.
If those requirements are meet, then you can be withdrawing cash in seconds through normal ATM which is amazing.
But they charge very high fee per transaction and that will make people lose their interest on taking this kind of ATM. Better for them using banking
system that didnt charge very high fee per transaction and may be there is free of charge transaction out there
Isn't it one of the many great things about bitcoin is not being controlled by a bank or have it as a only option to save your funds.
So how does a bank "control" a currency? Are you talking about business banks or central banks?
Isn't it one of the many great things about bitcoin is not being controlled by a bank or have it as a only option to save your funds.
any bitcoin 'bank' is likely to end up being a scam .. like trendon shavers 'bitcoin savings and trust'
Those banks can also do mixing service. You save your BTC there for some time and take it out with interest and they are already mixed with other coins.
any bitcoin 'bank' is likely to end up being a scam .. like trendon shavers 'bitcoin savings and trust'
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
With banking system we can easily convert it bitcoin to fiat or otherwise and with bank we can easily take our bitcoin everywhere and may be can use it
for some stores that accept this kind of payment so it will useful and that is one of the easiest way to get your own bitcoin
This can be done already with tons of ATM machines that support apps like BTCPoint o Bit2me:
http://www.coindesk.com/bitcoin-bit2me-enables-immediate-cash-withdrawals-across-its-atm-network/
Too bad in my country there are none yet, but I hope it arrives. I also hope they keep it commission free, otherwise no one will use this. Hope as well they respect privacy, or they will go bankrupt.
If those requirements are meet, then you can be withdrawing cash in seconds through normal ATM which is amazing.
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
With banking system we can easily convert it bitcoin to fiat or otherwise and with bank we can easily take our bitcoin everywhere and may be can use it
for some stores that accept this kind of payment so it will useful and that is one of the easiest way to get your own bitcoin
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
Yes, but i dont really see bank as you do. For me bank is some place where i can save money and get interests for it. And when i need money i borrow it.
And only this way OP question makes sense.
For me bank is not a network with which i can pay my bills and where i have transferred my incomes. This network part is what Bitcoin is substituting.
That is my thought. Bitcoin is like cash, blockchain enables it.
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
Yes, but i dont really see bank as you do. For me bank is some place where i can save money and get interests for it. And when i need money i borrow it.
And only this way OP question makes sense.
For me bank is not a network with which i can pay my bills and where i have transferred my incomes. This network part is what Bitcoin is substituting.
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
The ones that think like this don't get it. Sure it allows you to be your bank, but the majority of people are not going to want to be their own bank. One wrong mistake and you fuck it up badly losing your lifetime savings. Thats why "Bitcoin banks" will be a think, because if they fuck up you'll be legally entitled to get your money back, or at least in theory.
the whole point of bitcoin is that you don't need a bank! bitcoin enables you to be your own bank
It is the price of the houses that is wrong. The idea to spend what you do not have is wrong but it has been brought upon us by the banks as a right, creditcards are an easy way to bind people to the banking system and building debt upon debt. DO NOT DO IT!!
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
House price should be two years salary instead of 5. Without easy access to credit, the house price will drop significantly so that many people can afford that with a few years of savings.
It is the price of the houses that is wrong. The idea to spend what you do not have is wrong but it has been brought upon us by the banks as a right, creditcards are an easy way to bind people to the banking system and building debt upon debt. DO NOT DO IT!!
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
If you have a great idea, people can be convinced to lend you, invest in you. If you want to buy a house, save up, you can save up more in 30 years than you can pay off with interest on loans. If you start early you can buy your own house at the age of 30, the time before you could still live in your parents basement
I know it is hard to get the idea out of your head that you have the right to spend money you do not own using a credit card, but it makes you a slave to the banks.
So no answer to my questions then?
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