Topic: Will there ever be a Bitcoin Bank - page 22. (Read 3777 times)
The only bitcoin bank i can think of is the regular bank which includes the possibility to move fiat to crypto and vice versa directly with them.
I think its possible but not feasible. The idea of bitcoin bank where an institution would lend bitcoin as services is really risky. Because bitcoin is designed in the form of trust and the greater risk is on the lender since there is no guarantee that the money would come back to the lender due to anonymity.
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 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 thats possible and will going to happen soon because as we see there were some bitcoin atm's now that automatically withdraws your bitcoin without any conversion online or using any other cashing out methods, so i think that its also posssible for them to built such atm only for bitcoins and this will totally help people who are always on the go.
May be in future as you said there might come up as something so called bitcoin banks which provide loans like the credit card company but there is already a loan availing feature which is already there in the btc which means you can take bitcoin as loan but the interest will be calculated from the time you take btc as loan i think its interest rate is so high than any other lending service so its better to choose normal credit cards and bank for lending rather than taking loan from btc.As it can only be considered as a best form of crypto currency which is one of the best of investment asset.Some even think crypto exchange as banks.
I think that there is an opportunity (not for centralized bank) but for an company named similar to bank where people could put their Bitcoins and pay small fee for such service. It could be usefull for people who has recently lost their money on exchange or used to forget their wallet's password.
That place should be for sure bless by bitcoin or someone who is in power to pick that institution die to not destroy the idea of crypto. Then it may works.
That place should be for sure bless by bitcoin or someone who is in power to pick that institution die to not destroy the idea of crypto. Then it may works.
I do not know the future if there is a bitcoin bank or not, but I do not agree if there is a bitcoin bank. Maybe if there is a bitcoin bank I think the transaction will be difficult and take a long time to wait for confirmation, better than the beginning of bitcoin growth until now is enough without having a bitcoin bank.
Won't be surprised to see banks offering loans in BTC in future, and offer attractive interest rates on certain cryptocurrencies deposits to hold as reserves/loan out.
For me, maybe soonest there will be a bank who will offered to be the bitcoin's authorized bank. As the day goes by, this bitcoin will be more bigger and spread out through the country. Bitcoin is just starting to grow.
It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.
No, Bitcoin bank will never exists because it's opposing the main idea of why bitcoin created. Currency with decentralized nature just can't be stored in centralized way. But I can't deny that there's also something that works like Bitcoin bank which is Exchanges or online wallet. Once you store your bitcoin there, it'll seem that it's centralized into one wallet with thousands of address just like a bank but a little bit different. That's why so many people never recommend the usage of that kind of centralized exchanges or online wallet. Just for recommendation though, only use decentralized or hybrid wallet if you want the safety.I remember that Narbonne had an ICO not so long ago but it looks like they were not that successfull. Also their website ( https://narbonne.io/ ) was not updated since that time.
The general idea of banks can be used in crypros but excluding all the payment stuff. It is still gona be good to have some safe storage for the cryptocurrency and maybe even some % as an income.
Yes exactly, narbonne was one of the project I worked on. I thought it will bring some change by creating worlds first crypto bank but eventually they failed. There claim was that they will pay back almost 20-40% of returns (interests) on the bank holding but the project is not functional yet or may be its gone already.
However, there is problem of volatility which people are not considering while thinking about the bank. The bank is solid thing and it should never be unprofitable at any point. I mean look at the traditional banking sector, what do we see? Well, central bank control the prices of currency local and internationaly and keeps the proper balance of printing and distributing of the currency.
In crypto currency emission rate of the coins depend on the mining, sometimes it is difficult and sometimes it is easy. With the time everything is getting condensed and this will not allow proper trading through the banks. May be there needs big central server which will control the prices for the crypto but again if we do that then there wont be any meaning for the decentralised blockchain.
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It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.
No, Bitcoin bank will never exists because it's opposing the main idea of why bitcoin created. Currency with decentralized nature just can't be stored in centralized way. But I can't deny that there's also something that works like Bitcoin bank which is Exchanges or online wallet. Once you store your bitcoin there, it'll seem that it's centralized into one wallet with thousands of address just like a bank but a little bit different. That's why so many people never recommend the usage of that kind of centralized exchanges or online wallet. Just for recommendation though, only use decentralized or hybrid wallet if you want the safety. 
Bitcoin bank would make all transaction to be centralized removing away the notion of transacting autonomously, IMO. But does bitcoin wallet not enough for us to keep and spend our BTC anytime we want without any intervention from government entities?
For me bitcoin can survive without banks.Bitcoin and aktetnative currencies are virtual that does not need to be in banks.And i do not believe there will be bitcoin banks as well.
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 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 that there will be a bitcoin bank. The concept of bitcoin is to be your own bank eliminating the people or banks/financial institutions controlling your money for their own advantage. Besides, cryptocurrency is so volatile that it is hard to have a stable rate of interest in which case it could become an advantage or disadvantage to the creditor of the bank and to the bank as well in case someone put his money there like when the rate increase compared to fiat and banks only have a fix rate so it could become an advantage to the bank but if the exchange rate decrease then it would be a disadvantage to the bank which is bad for business because he is losing instead of profiting from it. However, there would be a possibility that a bitcoin bank can appear if fiat would be eliminated which means all are price in cryptocurrency value so there is no need for conversion rates and eventually it would be stable too but it is highly unlikely to happen.
I think there will be no such a thing as Bitcoin bank. Bitcoin was created for decentralization and if you would centralized its main purpose of existence then it would not be called a digital currency rather than you go back in fiat where theres a certain people who controls the money.You will for sure be obligue to send some verfication procces of ownership when applying for something like Bitcoin bank, and you will not be anonymus anymore.
I dont think that there will ever be a bitcoin bank, firstly bitcoin price is very volatile in nature and investors who wants to create a bank will have to think twice.
No investor would invest in a bitcoin bank which will be hard to liquidate and hard to explain when the government investigate you.
No investor would invest in a bitcoin bank which will be hard to liquidate and hard to explain when the government investigate you.
I think there will never be a bank for bitcoin in this world. But I would be very happy if it could come true.
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 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.
It may not be impossible given the fact that you thought of it, others may also consider putting up such. However, there is none in the news yet and I don't think it is happening anytime soon. The nature of the bitcoin which is a digital currency presents challenge too in centralizing it. This could probably one of the major reasons why more and more countries are banning this cryptocurrency in their location. Bitcoin was not regulated and would take time and effort to become one in the future.
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.
This idea is insane. But it will definitely take charge of our coins. Someone will have to manage this and a part of it wull go to bank bitcoin. Butthe pro is that our coins will be more secured. 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.
It is highly likely that there will be bitcoin bank in future. It will definitely start its work in developed countries.
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