Will there ever be a Bitcoin Bank - page 17.

OrangeSeller

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Quote from: carlisle1 on November 24, 2017, 05:37:08 AM

Quote from: The_Dark_Knight on November 13, 2017, 11:19:57 PM

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 do not like the idea of a bitcoin bank but it is very obvious to me that it is going to happen, banks are going to realize at some point they are losing business to bitcoin and they are going to begin to accept bitcoin as a deposit, I do not think it is going to happen yet because most of the people in bitcoin at this time are people that have a strong ideology about what is bitcoin, so most of us have strong feelings against banks, but as bitcoin becomes more popular and everyone begins to use bitcoin then we are going to become a minority and at that point a bitcoin bank will be a real possibility.

good point mate but the problem is we are enjoying our freedom here in cryptoworld and all of a sudden because of this banking system we will be centralized i dont think those whale will agree on this they maybe the first one to oppose on this idea.the decentralization system of this community let us feels that we have freedom over government but thos idea will took that from us.so lets think it over before believing that to happen

The freedom is what makes the difference in the first place. What is the point of having banks in the first place? They are meant to help you save your money, cash it out whenever you want, collect loans if you have collateral and so on and so forth while you are still being controlled at the end of the day with the government's monetary policies.

With Bitcoin wallet, you can perform all the necessary functions of a bank yourself without involving any third party which is why a bitcoin bank does not sound realistic.

awawo

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Well it will be a good development for there to be bitcoin bank, but it will be a waist of time and resources after all bitcoin is design to exist without the influence of any institution or organization. The blockchains are already serving the services of a bank in the cryptocurrencies world so we don't need any other bank or financial institution of any kind.

MuffinMaster

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Could be but it won't be a new bank that will try to just reach to most countries were bitcoin is used in the most part of economy, for me bitcoin in countries will be going through normal banks.

Domenc

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Bitcoin Bank but for what, Bitcoin is a decentralized system and there is not any need of banks for such system. But there might be Bitcoin Banks where people can know about Bitcoin but that too will be not helpful as banks will not able to maintain their financial conditions. Bitcoin is totally based online portal one don't need banks for that, if government wants they can set up places where people can learn about Bitcoin and exchange their currency for Bitcoin and know the latest updates but still you can' call that place a Bitcoin Bank.

mardaed

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If there is such bank bitcoin users should regulate it digitally where we shall have a secured wallet and less exchange rates. How ever if it is a government regulated bank then not a good idea because why to convert decentralized to the centralized one. It highly creates impact in our bitcoin market. Automatically all the bitcoin users stops transactions with bitcoin when they don't see profits, because all the prices for these assets would be controlled by financial system.

ezbreezy08

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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.

buharikx31

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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

ripti

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In my opinion, the cost of Bitcoin so much as a bank cannot be as long as its value is not stable. People keep their accumulated money in the bank for the security of its money. Since Bitcoin's price is not stable. So if it is a bank, its value will be stable.

dunfida

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Quote from: Kelvinid on November 30, 2017, 07:24:54 PM

Quote from: kendra1107 on November 30, 2017, 07:10:28 PM

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.

There are automated teller machines for crypto currencies in some parts of the world. Now these machines are obviously owned by banks. So banks can be affiliated with Bitcoin through these machines but not necessarily save our coins for us. Because if banks would get into storing our coins for us, the risk of breaking anonymity may be at hand. Now this wouldn't be good...

I agree.I think having this idea would only break our silence in earning as much bitcoins as we want.We would only be monitored by the banks and maybe next in that is we will be already obliged to pay taxes from the government.I'm already contented with my own wallet so i don't need any bank to save my earned bitcoins.

The thing on here is that why we would need bitcoin banks since we can already make our own banks thru our wallet.I don't even think that theres a bitcoiner would plan to use those banks.For what purpose? Security? Storing our bitcoin and keeping the keys is already enough which service from a bank isn't really needed at all.In terms of interest its much better to keep your bitcoin in your own hands rather than entrusting it into a Bitcoin bank.They would just sip out tax from your earnings for sure.

Frank0209

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I think there will never being a bank for Bitcoin only

). If Bitcoin can make bank better so the state bank of a lot of countries all over the world wouldn't find the way to ban Bitcoin in their country. Bitcoin will make bank disappear soon if it'll be legalized in any country cause nobody will wanna keep their money in bank anymore because invest in Bitcoin will bring better profit for them everyday not everymonth or year like bank interest.

Paul Pogba

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Banks are very dependent on state rules, as long as there is no state rule about bitcoin then banks will not dare to take risks by receiving bitcoin, this is the obstacle until now why no banks accept bitcoin.

ModaFuka1994

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I don't think we need a Bank to keep our Bitcoin

). We only send our money to bank because we want to be received the interest from bank every month or maybe year. But with Bitcoin the value of the same amount of Bitcoin change everyday because price of Bitcoin is changing everyday. Maybe value of our amount of Bitcoin can be doubled in just a day. Beside I think we can keep our Bitcoin safe without sending it to bank, we just need to use coldstorage wallet, the most secure Bitcoin wallet at the moment, to keep our Bitcoin safe, nobody can steal our Bitcoin when we don't connect the USB to our computer

)

bakunawaaa

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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.

Possible but would be very difficult I think. A normal bank as in retail earns profit from giving loans and collecting interest payments. I think with ethereums smart contracts they can do this with the crypto currencies. It would also be easier to operate, the only problem is default on loans. Not sure how they would incorporate having collaterals in a bitcoin bank.

Kelvinid

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win lambo...

Quote from: kendra1107 on November 30, 2017, 07:10:28 PM

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.

There are automated teller machines for crypto currencies in some parts of the world. Now these machines are obviously owned by banks. So banks can be affiliated with Bitcoin through these machines but not necessarily save our coins for us. Because if banks would get into storing our coins for us, the risk of breaking anonymity may be at hand. Now this wouldn't be good...

I agree.I think having this idea would only break our silence in earning as much bitcoins as we want.We would only be monitored by the banks and maybe next in that is we will be already obliged to pay taxes from the government.I'm already contented with my own wallet so i don't need any bank to save my earned bitcoins.

kendra1107

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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.

There are automated teller machines for crypto currencies in some parts of the world. Now these machines are obviously owned by banks. So banks can be affiliated with Bitcoin through these machines but not necessarily save our coins for us. Because if banks would get into storing our coins for us, the risk of breaking anonymity may be at hand. Now this wouldn't be good...

charmaine08

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I hope so , but it is a nice idea ti have a bitcoin bank

it is easily to exchange fiat to bitcoin and bitcoin to fiat .

maxamus

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Quote from: Gayas on November 30, 2017, 04:28:38 PM

Of course, will be such a Bank. The task of the banks to make a profit! And bitcoin gives them that opportunity.. loans in bitcoins.. contribution in bitcoins..

It will work the otherway as banks might adopt their own crypto currency with their own terms and conditions to have a firm grip over the funds which will lead to disappearance of one of the major advantage of bitcoin as the users will lose the full control over their crypto

Gracechen17

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Well, there are those who are planning to have even with credit/debit card. They are being bashed though. They said it is impossible to have a bank with total privacy and so in and so forth to implement. It is combining the traditional bank features and the cryptocurrency transaction features.

Bagaji

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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 don't think there is any need for Bitcoin bank what so ever because with blockchian technology all of us individuals are all our own bank and there is no need for any Bitcoin bank. Well to some extent banks maybe trust worthy but to some extent their targets is make profit by way of exploiting their customers and that is all and not for you to benefit from them.

ihsanskanzaone

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Quote from: phutakami on November 13, 2017, 09:24:26 PM

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 believe it is possible but not impossible, as in my country the banks are fighting against bitcoin as it is causing many obstacles to their development.

Bitcoin does not need a bank because bitcoin does not have a physical look so just keep it in the wallet ie online wallet. It's just for the progress of bitcoin must have a clear company address so many people will be more confident about bitcoin because there is already a clear address. We also have to know many obstacles in bitcoin, government and bank, but even so, bitcoin should not replicate how to create a bank because they will change the identity of the bitcoin which is very privacy and does not bother draining the administration because this is the identity of bitcoin.

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