Will there ever be a Bitcoin Bank - page 3.

Falmera

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Quote from: squatz1 on November 13, 2017, 08:07:15 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.

If bitcoin will be in banks, then the essence of its decentralization will be vanished. Banks are centralized and we all know about the issues of centralization. In addition, our wallets are more like a bank itself. But it is more secured.

TIDOVEE

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As think as time goes on,their may be bitcoin bank. Though if it could be done well, I mean technologically, it may not need a bank,but there could be like ATM for withdrawal after exchange. Even POS can be made more available for direct transactions.

Ramtapsbtc

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Quote from: squatz1 on November 13, 2017, 08:07:15 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 the current situation is better. We can transact with so many institutions. We can keep our bitcoin in our wallets without taxes and any regulations. We can incash anytime and anywhere. Meaning bitcoin is an easy access so why need a bitcoin bank.

Andrej Peiboski

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A bank for bitcoins makes no sense, because the bitcoin itself is a bank.
On the other hand, the exchanges are behaving like banks, so the banks for the bitocin are already there, for those who want to use them.

Opekin

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Quote from: hastag_80 on March 13, 2018, 03:59:47 PM

Quote from: squatz1 on November 13, 2017, 08:07:15 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.

Actually as far as i know ,there is a collaboration or treaty between central banks and the cryptocurrency to help rebuild as one services,but in terms of having a bitcoin banks,i thinks theres no one that kind of system,maybe in the other country there is kind of thats services being a bank of bitcoin,but here only in my country you can invest your bitcoin only in your local exchange wallet.

there will be an actual conflict in having bitcoin banks, first of all if they are willing to build it they must have no kyc and by the main issues of the banks is being centralized. Its a big deal in cryptocurrency. Along with that they must have a better inputs if they are not capable of being decentralized.

hastag_80

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Quote from: squatz1 on November 13, 2017, 08:07:15 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.

Actually as far as i know ,there is a collaboration or treaty between central banks and the cryptocurrency to help rebuild as one services,but in terms of having a bitcoin banks,i thinks theres no one that kind of system,maybe in the other country there is kind of thats services being a bank of bitcoin,but here only in my country you can invest your bitcoin only in your local exchange wallet.

queenlaurel

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There wont be any need for bitcoin bank. It wont make sence if there is a bank and everone can control their wallet on their own. Which makes it more interesting, since the government cannot control it. The bank will need the government permission in which we dont know if they will accepted.

Ukaraki

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Quote from: pinkflower on November 13, 2017, 10:38:57 PM

The topic of a BTC bank has been asked many times before and the community has been giving the same answers over and over again. Squatz, next time use the search function. Search for Bitcoin Bank and you will get these results.

But is there really a need for one? What for?

Definitely in the future about ten years if Bitcoin continues to develop Bitcoin bank will be born, but want a Bitcoin bank is taken, we need another organization and investors to cooperate with a bank. Bitcoin International, which requires reliable and rigorous containment to protect investors' money.

Sandijoee

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I think if there is a bank in bitcoin it is something interesting. Unfortunately the centralized banks run by government agencies. While bitcoin has not been supported by the government so it's hard for bitcoin to have its own bank, if this happens to be something good for us who use bitcoin in addition to storing in our wallet also store bitcoin in special bank bitcoin and security becomes tight or guaranteed.

MIZANUR5033

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Why you need a bitcoin bank? People from all over the world can using bitcoin who wants and there was nothing happen wrong with it.
In my knowledge, I didn’t hear that anyone loose their money for the fault of bitcoin. People can easily buy bitcoin and can sell them whet they wants. Now people can invest their money by hiding their genuine identity and keep running with it by don’t knowing any of other people.

If there will a bitcoin bank then we have to face many problem. Many new rules will be taken and we have to fulfill them. People can freedomly use bitcoin and that’s why they shows their emotion most in there but their freedom dealing will be loosed if their a bitcoin bank. Many traders will be loose there business which are related to bitcoin so all is perfect now. There is no need to have a bitcoin bank.

jaredl

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The idea of a decentralized currency like bitcoin and cryptos... is that banks are not needed.

But we all know this is the real world and banks will want a cut of the pie. They will collude with govt to create regulations such that financial transactions will still need to go thru the banks. State-backed cryptos will never be truly decentralized and real crypto-currencies like bitcoin and litecoin will only become closer to financial asset at best.

japan is probably the only country who will make crypto legal-tender. The rest of the countries will at best categorize bitcoin and crypto as assets. And this will mean that banks will continue to be required to handle your money. So bitcoin will become one of the products that banks can help you to manage as well; with a fee of course.

kingofrogues07

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Definetely yes. Besides I believe one day BTC will be like gold for crypto currency market. Governments store golds for money supply. Same logic in neat future new crypto currencies will reserve BTC to supply their own coins.

keycellko

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Its a good thought really, knowing we have already bitcoin atm why not put up a bitcoin bank. Oh well, banks are centralized. They are bound to follow a certain regulation. The mere reason why bitcoin was made is to get rid of centralized market.

Wipeout2097

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Yes it is possible and near future will officially work,some Bitcoin banks un officially started working and advertise their servies. It will ring new revolution in financial world.Most fast and secure way of transaction and holding funds.

Addywealth

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Bitcoin is a digital money which does not require a physical bank. Having a physical bank in future is misplaced priority. The aim and objectives will be forfeited there won't be a different bitcoin and conventional currencies

Opekin

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Quote from: GiantArrow15 on February 17, 2018, 10:14:57 AM

Definitely yes. As the bitcoin get his popularity in the coming years, for sure elite people will be interested in handling it. They will see it as a business that will bloom. For sure, there is someone who is planning right now to buold such bank.

For me it is for no use. Bitcoin survived to be safe in our cryptowallets so why still add some more storage for bitcoin?
Besides, it is not like cash that when placed in bank gets 1% interest for a year. Definitely it is with no help. Increased 1% for a year but inflation reaches about 4%.
I dont trust banks.

PatyZante

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I don't think it will be in BTC's best interest if a BTC bank was to be established. It will totally ruin the main purpose of BTC's existence. By nature, BTC's decentralized and having a BTC bank would mean that a certain degree of control will be taken from its owner, in short. . .centralization. I can't imagine a BTC Bank which will adhere to BTC's core purpose.

GiantArrow15

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Definitely yes. As the bitcoin get his popularity in the coming years, for sure elite people will be interested in handling it. They will see it as a business that will bloom. For sure, there is someone who is planning right now to buold such bank.

Wonder_woman

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I heard rumors that Bitcoin bank or Cryptocurrency bank already exist. But if it does not exist yet, it is a good idea to have Bitcoin bank because instead of just holding your bitcoin, you can earn more by storing your bitcoin in bitcoin bank. The thing is, we must have assurance that we will not going to be scammed, so, bitcoin bank must be registered and must have consent or must be under the government which is impossible to happen because government does not support bitcoin or crypto at all.

Sanugarid

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Banks and cryptocurrency has different concepts especially when it comes on their state of being centralized or not. Bitcoin is decentralized while naks are centralized or is an institution controlled by a government. So I think it is a bit impossible. Also, there are wallets to use in order to store your Bitcoin which I think is already enough. But we con't really know what tomorrow could bring for Bitcoin.

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