Will there ever be a Bitcoin Bank - page 16.

MrRiuss

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Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

I dont think so, but it is possible if bank can exchange bitcoin

BitcoinNational

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A bank strictly speaking, I don't think so. It's too opposite to the way Bitcoin works. It's a decentralized network, what's the point to open a bank? What would you do in a bank?
However traditionnal bank could help their customers to buy bitcoin or change bitcoin into fiat.

chocolaty

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I don't think this is possible because first of all, one of bitcoin's features is that it allow transactions without risking your privacy and security. Loans and such, which you have mentioned, is not easy to process because it requires info (most of the time private ones) for them to be able to reach you if ever you decided to run from your obligations.

CHENIEN

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In my country i dont ever heard any bitcoin bank. But if times come that the organizer or founder of this certain bicoin it is better for us or to all users of bitcoin. Because when theres a bank we can easilly access directly.

FAB_coin

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bitcoin backed fiat? Maybe who knows... it would remove the risk of loss dramatically for the depositors. There would probably be the need for a deposit and withdrawal fee.

Saksham

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I am sure that there is some teams already thinking at this aspect for some time. Now nobody can predict a date for such things but a Bitcoin Bank is inevitable, i wonder what will be the politics of this bank considering that bitcoin is developed on decentralized technology.

Sengoko

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Quote from: Proton2233 on December 04, 2017, 11:01:53 AM

Quote from: budz0425 on December 04, 2017, 10:51:39 AM

Quote from: Fatunad on December 04, 2017, 10:41:58 AM

They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.

For me it really depends in the country if one country is open for regulating bitcoin or is making bitcoin legal has the possibility that country will open for a bitcoin bank. Banks are intelligent enough actually here in our country they are confused already what bitcoin is because a lot of users are using this one.

Bankers are smart people. You shouldn't underestimate them. The existing banking system may not be the cryptocurrency. This is not because banks do not want to make a profit. They can't come up with a mechanism for the application of cryptocurrency. Banks is one of the tools of the government control finances. Therefore, banks will never use crypto currency which is not controlled by the state.

I think when everyone will have bitcoin then banks are not in that much need because bitcoin itself is a bank and all it do is to store the money of investor and return profit over it and banks are completely rubbish in front of bitcoin and in my view banks have no future all they have to shut the banking system and adopt the bitcoin system to have high profit without any interest and yeah this is much better than banks.

Kava

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Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

While there will be such volatility then the bitcoin of the bank will not be. We need stability and legalization of it so that everything is official and there are minimal risks for placing its profits in such a bank.

Genemind

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Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

I think that when this trend about bitcoin continues, people might want to have their very own bitcoin bank account. Probably for the reason that the idea of having a bank makes people feel more secure and comfortable with the things they value the most. I believe one day that there would be such a thing like bitcoin banks.

DRAWDE_3691

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Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

Having a bitcoin bank is not very far to be attained. Since, there are already teller machines for bitcoin. however, crypto worlds purpose is way different contrary to banking, I guess.

@prashant

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Bitcoin is earliest crypto but it need protocol improvement.forming a bank out of it useless.there are different debit card and virtual wallet available to you but still till bitcoin protocol changes is required.the transaction speed is is quite low and transaction fee is is also high.ripple will take over in crypto bank category and let see what will be the future.but there will be a crypto bank as many project are taking initiative to form one.

fullhdpixel

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Quote from: sumanto on November 24, 2017, 04:05:11 AM

Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

bitcoin banks may not exist because they are integrated directly with the blockcahin system, if a bitcoin ATM machine may exist in every country. but if the bitcoin bank does not seem to be too in need.

One way or the other, exchanges are centralized and they are pretty much acting like banks right now. It is expected anyway but we cannot directly say they have the same functions as banks. Bitcoin is a decentralized digital currency and the closest we are ever going to have would be exchanges, but having bitcoin banks would not really serve any purpose in the long run.

qwertyup23

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Quote from: squatz1 on November 13, 2017, 09:07:15 PM

Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.

I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.

Providing a bitcoin bank to a decentralized currency is impossible and people would rather keep it onto their wallets due to other related banking fees that might escalate in the future. I mean, what's the purpose of the bank anyway? Though one might argue for the enhancement of security but this would only lead to conflict within the government agencies especially when you accept a currency that has been viewed as foreign to other countries as well. Also, accepting bitcoin into a bank where its price is highly volatile would only result to a disruption in the market and has the potential of doing damage in terms of its price.
People would rather store their bitcoins in a hardware wallet rather than storing it into a bank that has potential fees in the future.

Cholo003

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I don't think we need a Bitcoin bank, might as well buy hardware wallet rather than go with the Bank. What i think possible is a ICO Bank. If you heard about a certain lending platform having their own VISA/MasterCard. I think that's a small step on having a ICO Bank.

Proton2233

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Quote from: budz0425 on December 04, 2017, 10:51:39 AM

Quote from: Fatunad on December 04, 2017, 10:41:58 AM

They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.

For me it really depends in the country if one country is open for regulating bitcoin or is making bitcoin legal has the possibility that country will open for a bitcoin bank. Banks are intelligent enough actually here in our country they are confused already what bitcoin is because a lot of users are using this one.

Bankers are smart people. You shouldn't underestimate them. The existing banking system may not be the cryptocurrency. This is not because banks do not want to make a profit. They can't come up with a mechanism for the application of cryptocurrency. Banks is one of the tools of the government control finances. Therefore, banks will never use crypto currency which is not controlled by the state.

budz0425

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Quote from: Fatunad on December 04, 2017, 10:41:58 AM

They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.

For me it really depends in the country if one country is open for regulating bitcoin or is making bitcoin legal has the possibility that country will open for a bitcoin bank. Banks are intelligent enough actually here in our country they are confused already what bitcoin is because a lot of users are using this one.

Fatunad

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Quote from: ricardobs on December 04, 2017, 09:33:39 AM

Quote from: ezbreezy08 on December 02, 2017, 06:33:02 PM

Quote from: buharikx31 on December 02, 2017, 06:00:12 PM

It more possible to expect Visa and mastercard to accept bitcoin as a payment method, the same for banks which are intrested on converting bitcoin to cash money with profit, not using exchange

right now i think they are adopting blockchain already but bitcoin as a payment method there are several banks that accept bitcoin already, wait for another year and so on. hope their are no fees or transaction fees that banks needed to it.

So.you think that banks will ever think accepting Bitcoin and acting as an exchange? Funny, cause that pretty much won’t be happening. I’m not saying on the matter of Bitcoin and Bank being against each others and blablabla. I’m just saying the true fact– and that is that if Banks are going to accept Cryptocurrencies, they will be accepting a cryptocurrency made by the country’s government, which will be made a centralized Investment for the citizens to invest on.

They wont bother to accept bitcoin but rather they would able to accept on the coin being made by government since they do know that people on that place will surely get involve on that one since its being recommended and backed by gov't. I dont see a reason that Banks would decide to tie up with bitcoin since they do know its capabilities and the things that can be done.It can stand alone and be really an enemy against on a centralised system.

danpaz

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I think thats impossible to happen to bitcoin to be manage by a bank even tho it is a Bitcoin Bank,, why? Because Banks can forbid you to receive or disallow you to make a transaction to any if they find out your not eligible to their terms and conditions.

ricardobs

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Quote from: ezbreezy08 on December 02, 2017, 06:33:02 PM

Quote from: buharikx31 on December 02, 2017, 06:00:12 PM

It more possible to expect Visa and mastercard to accept bitcoin as a payment method, the same for banks which are intrested on converting bitcoin to cash money with profit, not using exchange

right now i think they are adopting blockchain already but bitcoin as a payment method there are several banks that accept bitcoin already, wait for another year and so on. hope their are no fees or transaction fees that banks needed to it.

So.you think that banks will ever think accepting Bitcoin and acting as an exchange? Funny, cause that pretty much won’t be happening. I’m not saying on the matter of Bitcoin and Bank being against each others and blablabla. I’m just saying the true fact– and that is that if Banks are going to accept Cryptocurrencies, they will be accepting a cryptocurrency made by the country’s government, which will be made a centralized Investment for the citizens to invest on.

guoyu78

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Quote from: NovaNewbium on November 24, 2017, 05:45:32 AM

No i do not think because bitcoin is made out of the fact that people do not trust banks why should we put something like this in a bank i think that is the dumbest question i have ever seen you cannot ask something that is made to never put in a bank to put int in a bank.

Banks suck and they will always suck. The community will not even accept it and there is even no way they can easily operate in the first place. What would be the idea? To help you store your money in their bitcoin wallets and give it to you when you want which you can easily do all by yourself. Or probably to give you loan as the OP mentioned, which is total crap.

Having a bitcoin bank would be so useless and no one will even bother to come up with such an idea in the first place. It is even hard to trust centralized exchanges, let alone a bitcoin bank.

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