time: 1508628356274331
Topic: What happen if bitcoin build a headquarter bank - page 3. (Read 1079 times)
we would end up like Crypto Babel Tower or European Parliament
time: 1508628356274331
time: 1508628356274331
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what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
All the features you speak of exist in the crypto currency industry, why would we limit the industry to just one provider? Doing so stifles competition, which hurts consumers.
agreed. having a physical bank eliminates one of it's most attractive assets. That is, being a flat currency that exists only in the digital world.
The Vinklevoss brothers are doing something like that. Coinbase and a few others others could probably do something similar. I guess it could be useful to convince some new people to invest in BTC. Of course, it would not be an official representation of BTC, but it would look like one to many people, and that would be enough.
The objective focused by bitcoin is to decentralized the currency so that people will earn good amount without tax. But if bitcoin headquarter is being made then many problems arises like
on which country headquarter will be made
which country centralized bitcoin
I thing no country take responsibility to centralized because it will be difficult for single country to control such widely separated currency.
on which country headquarter will be made
which country centralized bitcoin
I thing no country take responsibility to centralized because it will be difficult for single country to control such widely separated currency.
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
Wont happen it cannot happen. If that happens, that day I will literally sell all of my bitcoins out of principal and of course because the price will take a massive tank. The nature of cryptos and bitcoin wont allow for this and I
think it would be silly if anybody actually attempted this.
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
Bloody hell. Sure hope this never happens. Because if it does, i sure ain't gonna stay with bitcoin anymore. No matter how much I love it. Because, for me, the way it is rifht now is the gravity that pulls me into it. And if this changes, I sure am gonna sell all my bitcoin possessions. Amd i think others will probably do the same also. And this will only result in massive price dips without recoveries. This may be something that finally ends the reign of bitcoin as the top cryoto currency in the crypto world. May even become as just a memory. Another story to tell to our frand children. Then soon forgotten.
And some low ranked users are asking in the newbie section why it is that they are being looked from above by older members. The reason are threads and answers like this one. Have you put a thought into it or have you decided to write something to up your post count?
How can a currency build a bank? Banks are made by people not by money. Even if somebody decided to make a BTC bank it wouldn't mean that you have to use it. I'd expect the idea to die of natural causes.
Come on Bitcoin! I need a house built. Stop thinking about setting up a bank and get to work on my yard!
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
Bloody hell. Sure hope this never happens. Because if it does, i sure ain't gonna stay with bitcoin anymore. No matter how much I love it. Because, for me, the way it is rifht now is the gravity that pulls me into it. And if this changes, I sure am gonna sell all my bitcoin possessions. Amd i think others will probably do the same also. And this will only result in massive price dips without recoveries. This may be something that finally ends the reign of bitcoin as the top cryoto currency in the crypto world. May even become as just a memory. Another story to tell to our frand children. Then soon forgotten.
If BTC build a head quarter bank, isn’t it defeating the purpose of being decentralised? I don’t think this will happen and if it happen, the county where BTC head quarter is located will be forcing its regulation on BTC.
You should keep in mind that bitcoin are created for the purpose of not having any intermediaries managing your assets. Each person's account is self-managed. If the BTC intervenes, it will no longer be the BTC's original goal. In terms of creating ATM cards, I don't think it is necessary at present because there are ATMs for buying / selling directly with Bitcoin.
its time some people stop looking at the 8year old philosophy and start looking at the reality.. starting with the arrogant and centralised push for 'lightning'
lightning network is where people need to deposit funds into an address that is DUAL MANAGED!!
meaning you have to link to a counter party and have them agree/say yes to a transaction you want to perform.
current tests/concepts have found that distributed 'spokes' do not work. and centralised 'hubs' are the only efficient way for the route functions.. this in non buzzworded terms is banks(the hubs) managing your transactions.. hense people shouting out that lightning is ultimately banking2.0
You should keep in mind that bitcoin are created for the purpose of not having any intermediaries managing your assets. Each person's account is self-managed. If the BTC intervenes, it will no longer be the BTC's original goal. In terms of creating ATM cards, I don't think it is necessary at present because there are ATMs for buying / selling directly with Bitcoin.
A public decentralized organization u hang on to your own private keys.
What would this kind of bank do? would it allow you to instantiate your own private blockchain? access expert systems to help you solve hard tasks?
maybe u can get permissions from third parties to use a cryptographic signature for your company transaction or something.
its not really a bank tho.
before all that i hope we can get better interfaces for people to avoid making mistakes. easy tools to improve security for the vulnerable.
as for developer control nothing is ever going to be perfect. we need to be able to attract the right people to join the project otherwise bitcoin will lag behind competition.
If it turns out to be some cia op then we can do what it takes to stop using the network.
What would this kind of bank do? would it allow you to instantiate your own private blockchain? access expert systems to help you solve hard tasks?
maybe u can get permissions from third parties to use a cryptographic signature for your company transaction or something.
its not really a bank tho.
before all that i hope we can get better interfaces for people to avoid making mistakes. easy tools to improve security for the vulnerable.
as for developer control nothing is ever going to be perfect. we need to be able to attract the right people to join the project otherwise bitcoin will lag behind competition.
If it turns out to be some cia op then we can do what it takes to stop using the network.
It would be centralized which is against the original philosophy of Bitcoin, each account very need a full verification which defeat anonymity, nobody would use it as there is no much difference of what a standard 'bank' could provide, demand would just gone and other project depending on BTC die as well.
Lets assume that even the impossible become possible - another similar crypto like Lite or Vert would immediately replace BTC and become the main medium for exchanging fiats, leaving the so called 'BTC bank' nothing but dusty rigs.
Lets assume that even the impossible become possible - another similar crypto like Lite or Vert would immediately replace BTC and become the main medium for exchanging fiats, leaving the so called 'BTC bank' nothing but dusty rigs.
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
bitcoin is not a person to build a bank.
bitcoin is not a centralized group that can build a bank.
anything that is made is made by third parties like you and me.
nothing happens when others offer different services such as wallets (coinbase, xapo,...) exchanges (bitfinex, poloniex,...) gambling sites (....). so nothing will happen when someone offers a "bank" services too.
what did you expect to happen anyways?
hav you seen blockstream lately..
they OWN the github and control what happens
the "you and me" you talk about have tried to do bips to upgrade the network and within 24 hours a blockstream employee has closed the bip/issue.
its time you get your head out of the sand thinking bitcoin code is not controlled and the gateways in and out of bitcoin are not controlled.
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
bitcoin is not a person to build a bank.
bitcoin is not a centralized group that can build a bank.
anything that is made is made by third parties like you and me.
nothing happens when others offer different services such as wallets (coinbase, xapo,...) exchanges (bitfinex, poloniex,...) gambling sites (....). so nothing will happen when someone offers a "bank" services too.
what did you expect to happen anyways?
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
Bitcoin will never build a bank like another because bitcoin is far better than other things because we know that bitcoin is giving opportunity to people to invest and in a return get more while bank is not giving these opportunities to people so bitcoin is better like that. In future you will enjoy the value of bitcoin between like that 220000$. 
Then bitcoin will lose its main advantage - decentralization. I do not think that this will happen, since in this case the creator of bitcoin (Satoshi?) Would not hide his identity. And bitcoin is quite quietly functioning on the Internet. It would be enough bitcoin-ATM.
what happens if bitcoin builds a bank just like a bank with a headquarters, savings account management and also makes a bitcoin account card ??
It will never happen as it is impossible.
Bitcoin is a currency or technically speaking a bunch of code.
Bitcoin is not an organization or an organism it is nothing that can have its own free will or thoughts.
And if somehow somebody will take control over the blockchain the next day bitcoin will be just another page in the history of failures as probably 99% will switch to the next decentralized currency.
I really don't understand why so many of you are so keen to give away your bitcoins to banks.
it already exists
http://dcg.co/portfolio/
they have blockstream, bloq and many others as the IT department
coinbase, bitpay, bitflyer, bitoasis, bitpasa, bitso, kraken, coinsetter and soo many more as their 'local bank branches'
they even have their own media outlet, coindesk to control what they want people to know.
stil dont believe it? well check out all the debates over the last 3 years, if its not managed by guys funded by DCG, it gets REKT
http://dcg.co/portfolio/
they have blockstream, bloq and many others as the IT department
coinbase, bitpay, bitflyer, bitoasis, bitpasa, bitso, kraken, coinsetter and soo many more as their 'local bank branches'
they even have their own media outlet, coindesk to control what they want people to know.
stil dont believe it? well check out all the debates over the last 3 years, if its not managed by guys funded by DCG, it gets REKT
what happens if bitcoin builds a bank ??
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