The funniest thing ever.... | Bitcointalksearch.org

desired_username

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Quote from: TKeenan on June 03, 2015, 08:47:24 AM

Quote from: desired_username on June 03, 2015, 05:12:06 AM

Quote from: TKeenan on June 02, 2015, 02:14:33 AM

Clearly, they don't understand what bitcoin is.

Fiat requires gateways and bitcoin adoption is still low. If they insure bitcoin deposits then I think it will be quite popular especially for businesses.

The purpose of Bitcoin is to eliminate banks. You can't be a 'bitcoin bank'. That thing doesn't do anything.

Safekeeping privatekeys, managing bitcoin loans and acting as a fiat gateway are 3 potential roles for a bitcoin bank.

Fiat won't go away fast....

Error404

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Quote from: Amph on June 02, 2015, 11:09:17 AM

Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

if you think about it any exchange can be considered kind like a bank, if you hold money there, many are just less secure than others

banks are welcome only if they can offer a 100% secure investments with bitcoin..i'm talking about interest like with fiat

but this will surely bring, the already little portion of the bitcoin anonimity, down

The only thing i know what bitcoin is it helps a lot of people to gain more knowledge and gain some money to use it for their education and for they family bitcoin is helpfull to the person that lack of money but they have more knowledge to use for make a money

TKeenan

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Quote from: desired_username on June 03, 2015, 05:12:06 AM

Quote from: TKeenan on June 02, 2015, 02:14:33 AM

Clearly, they don't understand what bitcoin is.

Fiat requires gateways and bitcoin adoption is still low. If they insure bitcoin deposits then I think it will be quite popular especially for businesses.

The purpose of Bitcoin is to eliminate banks. You can't be a 'bitcoin bank'. That thing doesn't do anything.

desired_username

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Quote from: TKeenan on June 02, 2015, 02:14:33 AM

Clearly, they don't understand what bitcoin is.

Fiat requires gateways and bitcoin adoption is still low. If they insure bitcoin deposits then I think it will be quite popular especially for businesses.

pooya87

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Quote from: Kprawn on June 03, 2015, 02:12:32 AM

Banks & Bitcoin just sounds wrong to me. Roll Eyes

A lot of people adopted Bitcoin, because they saw it as a alternative to the current financial system. This line is being crossed with every 3rd party "service" being created on top of Bitcoin.

These companies charge fees in close proximity to what banks and other remittance services are charging and thus cancelling the benefit of using Bitcoin as a alternative.

The financial model on which a bank is based is ---> Profit / Bitcoin should not be profit driven. {Bitcoin - make transactions cheap and fast and safe for consumers}

Then again... people care less about principles, when they can make money. Sad

i have the same feeling about banks and bitcoin too, one of the big advantages of bitcoin or any cryptocurrency for that matter is that you won't need any third party for using your money.
using bitcoin with a bank is the same as using fiat. they might even charge you an additional fee!

but, i think it is going to add a huge popularity to bitcoin if it starts. which is always a good thing.

Amph

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Quote from: oblivi on June 02, 2015, 12:11:00 PM

Quote from: Amph on June 02, 2015, 11:09:17 AM

Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

if you think about it any exchange can be considered kind like a bank, if you hold money there, many are just less secure than others

banks are welcome only if they can offer a 100% secure investments with bitcoin..i'm talking about interest like with fiat

but this will surely bring, the already little portion of the bitcoin anonimity, down

There isn't anything 100% secure with fiat or with Bitcoin.
An exchange is like a bank, except they aren't fully regulated, which means once shit happens you are out of luck since the police is not going to care about it.
With fiat at least you usually should recover your money. But not always, look at Cyprus or the Andorra bank.
With Bitcoin I can trust myself. Storing fiat in your home is way more risky since you can't do backups.

yeah i know, i'm here because i hate bank, and i want to evade from them, no way i will deposit anything into them, unless they promise a very high interest or something

my talking was aiming at a general argument

bitcoin is putting the control of your money at your fully disposal, and then you go and deposit your coins in a bank? it does not make sense

i'm still waiting for fully anon implementation on bitcoin, so bank and taxex from gov, can fuck themlseves for good

Kprawn

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Banks & Bitcoin just sounds wrong to me. Roll Eyes

A lot of people adopted Bitcoin, because they saw it as a alternative to the current financial system. This line is being crossed with every 3rd party "service" being created on top of Bitcoin.

These companies charge fees in close proximity to what banks and other remittance services are charging and thus cancelling the benefit of using Bitcoin as a alternative.

The financial model on which a bank is based is ---> Profit / Bitcoin should not be profit driven. {Bitcoin - make transactions cheap and fast and safe for consumers}

Then again... people care less about principles, when they can make money. Sad

crazyivan

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If it brings additional positive press and acceptance for BTC, I m all in for it.

hasmukhh

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if swiss bank would start a bitcoin bank then all the black money or gambled money would go in there . haha .
this is not gonna happen . even if it would then I don't think people would be using it because they are comfortable the way they are trading now .

Slark

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Quote from: Kakmakr on June 02, 2015, 04:16:27 AM

Not everyone hate banks <> Most Bitcoiners still use banks for things like mortages and loans and the payments requiring the fiat system.
If they combine the two, they might grab a share of the market, currently held by banks that does not allow Bitcoin.
If I am forced to use a bank, I will rather use a bank that are pro Bitcoin. How many people had already had their bank accounts frozen, when it was linked to Bitcoin? They spot a gap in the market, and they capitalized on it.
Take the business away from the banks, who does not acknowledge or allow Bitcoin users.

Well I don't hate banks per se. But I hate this current rotten financial system. And people use banks because they have no choice, you need to have bank account and be able to live in a modern society.
If you are forced to use bank use banks which are the cheapest, if you can just use bank which is pro bitcoin but fees for bitcoin transactions are big I would not use it. I don't want pay additional fees no matter what.

renee25

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Quote from: subSTRATA on June 02, 2015, 11:56:22 AM

Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

blockchain.info does something similar as well iirc, i remember reading on their site that they store the online wallets on secure servers with a dedicated security guard and all that, but that doesn't exactly constitute a "bank" either. one of the selling point of bitcoin is that you can "be your own bank," but the idea of letting a central organization holding your bitcoin and investing it, while giving you interest like a fiat money bank, seems both interesting while it goes against the idea of decentralization.

No, blockchain.info stores your bitcoin encryted, your password is used to decrypt them, that's why they can't be robbed but YOU can if you use a weak password.

oblivi

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Quote from: Amph on June 02, 2015, 11:09:17 AM

Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

if you think about it any exchange can be considered kind like a bank, if you hold money there, many are just less secure than others

banks are welcome only if they can offer a 100% secure investments with bitcoin..i'm talking about interest like with fiat

but this will surely bring, the already little portion of the bitcoin anonimity, down

There isn't anything 100% secure with fiat or with Bitcoin.
An exchange is like a bank, except they aren't fully regulated, which means once shit happens you are out of luck since the police is not going to care about it.
With fiat at least you usually should recover your money. But not always, look at Cyprus or the Andorra bank.
With Bitcoin I can trust myself. Storing fiat in your home is way more risky since you can't do backups.

subSTRATA

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:^)

Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

blockchain.info does something similar as well iirc, i remember reading on their site that they store the online wallets on secure servers with a dedicated security guard and all that, but that doesn't exactly constitute a "bank" either. one of the selling point of bitcoin is that you can "be your own bank," but the idea of letting a central organization holding your bitcoin and investing it, while giving you interest like a fiat money bank, seems both interesting while it goes against the idea of decentralization.

anderson00673

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The only benefit I see from a large scale bitcoin bank would be the possibility of faster transactions. The bank could theoretically reduce the number of confirmations for a transaction because it is a trusted entity. Of course the main draw would be for black money, but there may be side benefits for the rest of us. Not that I would use such a bank for my coins. It sort of defeats the purpose.

Amph

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Quote from: thejaytiesto on June 02, 2015, 09:37:28 AM

Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

if you think about it any exchange can be considered kind like a bank, if you hold money there, many are just less secure than others

banks are welcome only if they can offer a 100% secure investments with bitcoin..i'm talking about interest like with fiat

but this will surely bring, the already little portion of the bitcoin anonimity, down

thejaytiesto

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Isn't Xapo already a Bitcoin Bank? I've heard they will protect your coins in some cold storage computers shielded inside an underground bunker with security cameras and armed guards, sounds pretty cool.

AtheistAKASaneBrain

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A lot of people don't want to hold their own BTC because they don't trust themselves, and they want to have someone they can blame to if they lose their Bitcoins, since they don't want to blame themselves in the case they lose them. That is the reason Bitcoin Banks will be somewhat successful.

subSTRATA

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:^)

Quote from: TKeenan on June 02, 2015, 02:14:33 AM

http://www.coinspeaker.com/2015/06/01/switzerland-enterpreneurs-create-bitcoin-bank-9625/
This Swiss group is going to start a bitcoin only bank.

"will provide all traditional banking services, but only with the use of the digital currency"

Clearly, they don't understand what bitcoin is.

Keep in mind that these are the Swiss of all people, and banks do not just hold your money for you and let it sit around, they always invest your money to turn large profits, and give you a little bit of that profit as 'interest' for letting them use your money. These Swiss bankers may have plans to either launder money (shady as the swiss banking business is) or to start a large scale mining project, who knows.

Unbelive

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Quote from: TKeenan on June 02, 2015, 02:14:33 AM

http://www.coinspeaker.com/2015/06/01/switzerland-enterpreneurs-create-bitcoin-bank-9625/
This Swiss group is going to start a bitcoin only bank.

"will provide all traditional banking services, but only with the use of the digital currency"

Clearly, they don't understand what bitcoin is.

Bitcoin is internet of money. It helps you to transfer some value far with low costs. Bitcoin is not a Bank. Lots of people that dont know what bank really is, thinks that bank is what Bitcoin can do.

If anyone thinks that there will be no banks with bitcoin is really wrong. Banks will use internet of money fro their services. What is allready in Bicoin will just not be their services anymore.

NorrisK

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Quote from: Herbert2020 on June 02, 2015, 04:10:39 AM

Quote from: NorrisK on June 02, 2015, 04:04:48 AM

Quote from: gkv9 on June 02, 2015, 02:55:51 AM

Quote from: TKeenan on June 02, 2015, 02:14:33 AM

http://www.coinspeaker.com/2015/06/01/switzerland-enterpreneurs-create-bitcoin-bank-9625/
This Swiss group is going to start a bitcoin only bank.

"will provide all traditional banking services, but only with the use of the digital currency"

Clearly, they don't understand what bitcoin is.

Do you really think they don't???
Think again...

They clearly have an intention to convert fiat black money into Bitcoins directly in order to let it look clear and safe...
This way, many people will have anonymous accounts due to which even Governments won't be able to track those Black money Bastards without the consent of this bank...

That's quite risky considering price fluctuations. They would go bankrupt if price increases by 20% suddenly.. I don't think they would do it in that way.

but surely they won't only keep bags of bitcoin, they are gonna become a big whale this way and they will be able to ride the market as they want and earn huge profits this way

What do you think the bank does with your fiat? Just hold it and do nothing with it? What pays the interest? Creating it out of thin air? Banks always invest or loan your money to someone else at a higher rate, same would be true for bitcoin.

Topic: The funniest thing ever.... (Read 1749 times)