Topic: Will there ever be a Bitcoin Bank - page 7. (Read 3777 times)
I think there is space for banking in cryptos. As you know, a bank can lend more money than it actually has in deposit. You cannot do that with bitcoin alone, so it makes sense to bank it.
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 get what your saying since centralization has its pros; efficiency, security, etc... But i think it is highly unlikely for Bitcoin to have a bank or a centralized entity because Bitcoin is decentralized in itself, so it would defeat its purpose if there is a centralized entity regulating it. But the idea you have is not impossible.
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?
I think yes, there will be a Bitcoin bank in the future, this has to be considered in the future whether Bitcoin is really capable of development or not, because Bitcoin is currently banned in many places. But is there really a need for one? What for?
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.
Having a bitcoin bank would be great but it is really far from reality since most of the banks here in our era is against botcoin thing, their allergic about this stuff knowing bitcoin is very good source of income already. They think accepting the bitcoin on their bank would be a way to close the business, but in fact bitcoin is one of the most high value of money these days. So having a bitcoin bank would be a long procedure since it will require clear explanation why it has a bank for bitcoin. Far from reality but possible in future. Imposaible because it needs to be validate by the company first.
I dont think that a bank for bit coin is needed.as bitcoin is leading towards decentralization and as i know it is peer to peer so its not applicable. Any way thats only my opinion.
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 will never be a bitcoin bank, MR. Satoshi Nakamoto created BITCOIN a cryptocurrency to make people have the power in currencies and money and not depending with the banks and government issued FIAT. Well maybe someday a bank will appear on this currencies but i doubt that crypto community will go for it! 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 Bank is sheer useless thing. Bank is a place where you can store up your money and get some interest on it. But I think there is no such thing existing in Bitcoin. No one can magically increase the amount of bits you have just because you kept it with them. So a simple answer is there will never be such a bank but only a few such wallets.
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.
Yes it is possible since bitcoin is a great investment. A lot of bitcoin users are waiting for it because most of them don't know where to keep and store their money safely. Most of banks these days has fraud issues that affects the earnings of most people who trust banks. Most of the banks these days don't worth our trust so I wish bitcoin would build their own bank.
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.
Yes it is possible since bitcoin is a great investment. A lot of bitcoin users are waiting for it because most of them don't know where to keep and store their money safely. Most of banks these days has fraud issues that affects the earnings of most people who trust banks. Most of the banks these days don't worth our trust so I wish bitcoin would build their own bank.
I don't think so, bitcoin's supply is very limited and it works on a decentralized network so even if some billionaire will make a bank for bitcoin i think that will not work as holders can make their bitcoin keep on personal digital wallets.
Everything has a limited like our fiat currency and if there's no limitation there will improper circulation of our money that we all used for every transaction and in my own opinion. Why the OP thinks about this a kind of thing it is because he might think if there is bank for bitcoin we can store our bitcoin without fluctuating it's value. So meaning to say it's made our bitcoin stable without worried about the sudden hard fork in it.Yes, you have a point. But I beg to disagree on bitcoin as trading asset and not currency. Yes, bitcoin may viewed as an asset but it can still be considered as currency. Bitcoin is a digital "currency" from the word itself, you can't really say that it's not a currency. Yes, we're not using bitcoin to buy our daily necessities, however, we used it as our way to earn money. Since it is digital currency, we have to convert it into fiat currency to be able to buy our needs. We can still use bitcoin in stores who accept bitcoin as mode of payment. To sum up with, bitcoin may considered as a trading asset and at the same time, a currency.
With the current trend of bitcoin who knows someday there will be Bitcoin Bank of the World.
I don't think so, bitcoin's supply is very limited and it works on a decentralized network so even if some billionaire will make a bank for bitcoin i think that will not work as holders can make their bitcoin keep on personal digital wallets.
Everything has a limited like our fiat currency and if there's no limitation there will improper circulation of our money that we all used for every transaction and in my own opinion. Why the OP thinks about this a kind of thing it is because he might think if there is bank for bitcoin we can store our bitcoin without fluctuating it's value. So meaning to say it's made our bitcoin stable without worried about the sudden hard fork in it.The whole point of having a bank is to regulate money in a particular region and this is exactly the opposite of what Bitcoin proposes, decentralisation. Banks are centralised bodies which are run by the government/private agencies whereas Bitcoin is decentralised in nature, having no regulating authority so no, there won't be any Bitcoin Banks in the future either.
Actually speaking of Bitcoin, I think there will be a Bitcoin banks when Bitcoin really grows and makes the currency traded and distributed in all the countries in the world, but that's a long way to go The bank can not successfully work with such high volatility of bitcoin and other cryptocurrencies. It is impossible to work with loans and deposits at such fluctuations in value.
Banks will be banks, and I don't think that the volatility of bitcoin and other crypto currencies or digital currencies will affect this banks, if it was implemented since their only job is to be a place where people save their bitcoin and other crypto currencies, they are not exchanges that will be converting your bitcoin into digital currencies, and I think if they are converting, I think they can accept that fact since it will really happen when you are an exchange of a digital currency.
I dont think so, firstly Bitcoin is already decentralized and people can easily and securely store it into their highly secured wallets. Secondly crypto currency users and fans don't like the banking concepts usually and they deal with crypto currencies mainly because it is still decentralized.
I absolutely believe that Bitcoin banks will be, in fact technically every ATM works as a bank. Banks do not consist only of buildings. The costs of building and working banks are very high.
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 it is still possible for bitcoin to have it's own bank. Bitcoin users were having a hard time on how to keep thei earnings in a safe and trusted bank where in they can encash it anytime without limits. Banks always look for a lot of requirements before you store your earnings and it'll be hard for us to find an explanation on where did we get our money.
I think if humans are good at one thing it is innovating, it seems counter-intuitive but who knows. There might be a situation where like an old-fashioned bank risk in lending money is shared amongst depositors. and reward is shared amongst depositors.
We all know bitcoin as a decentralized currency. Once it have its own bank, it will become centralized. Manu features we know bitcoin have may be lost. Also, it is a digital money. A cryptocurrency. We have our wallet so I don't think that having a bank is necessary.
I hope it will never happen. Because in my opinion, it will cause many problems. Local bank activity will be disrupted if there will be bitcoin bank. Let's keep it this way, no bitcoin bank.
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