And someone asked if there is insurance if the site get's hacked? Though we're taking every single security option we can think of, Last time I checked the FDIC doesn't insure bitcoins.... if anyone has any ideas I am all ears.
We don't need the FDIC. If you can get the explict backing of some early adopter with substantial reserves, who is willing to function in the position of the FDIC, that would be grand. This alone would give any wallet service a huge advantage over the others, whether they offer dividends or not.
Is this bank going to be fractional? If so, what will the ratio be? What kind of loans, CD's, etc do you plan to offer? I can imagine that such a bank that offers a 50% reserve ratio, and invests into it's own mining hardware, might be able to make this all work; but some kind of major backing would certianly quiet my nerves.
