First licensed crypto-BANK! - page 3.

GregH37

legendary

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Quote from: stompix on October 30, 2018, 06:55:18 AM

Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote

Annual Fee: Accounts <€5M Maintenance € 1’000
Wire Transfer Fee: € 100

I hope there are quite a few of extra zeros in that table or it's some sort of ~~Aprils Fools~~ Halloween joke !

I am really hoping it is actually a Halloween joke. But if this is for real, and looking at the fees, that is pretty typical of banks. It is actually absurd to even see some people seeing this as a great innovation and then probably there is every chance that the banks already know that there are some people who do not actually understand any concept at all.

Banking will always be banking and as far as I am concerned, it is something I have made my decision to not see as anything I even want to have much to do with in the long run. Right now, it is basically because I don't see any means to do so yet, but as time goes on and I get to see bitcoin being used in real life or cryptocurrency attaining some height of usefulness in the real world, banks will suck to me. Like jseverson said, it actually does not make any sense, when I can be my own bank.

shinharu10282016

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Activity: 700

Merit: 100

Quote from: NRista94 on November 02, 2018, 08:18:21 AM

Quote from: jseverson on October 30, 2018, 10:21:57 AM

Quote from: stompix on October 30, 2018, 06:55:18 AM

Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote

Annual Fee: Accounts <€5M Maintenance € 1’000
Wire Transfer Fee: € 100

I hope there are quite a few of extra zeros in that table or it's some sort of ~~Aprils Fools~~ Halloween joke !

Lol yeah what are the tokens for if they already keep your cash and crypto for you? It makes much more sense to use those for whatever you might need. The memberships also feel like they just want you to buy tokens.

But yeah, the concept might be intriguing, but I can take care of my crypto myself so I probably won't be in the market for this kind of banking anytime soon. I can see this being quite polarizing.

Crypto Banking, Why? The driving force behind this interest isn’t so much the cryptocurrencies themselves, as it is the technology that the industry is built on – Blockchain!
And also, EQI is going to have an built-in exchange, so you would have everything on one place, check this out
https://nulltx.com/are-banks-really-using-blockchain/

The fees are quite high. What's with that? It almost costs more than a bank would pull out of your account when your wire transfer money to be made by them. That's just another 'licensed platform' who's gonna milk out their potential customers some fees. Lol and that just killed the very concept of why blockchain technology exists.

NRista94

copper member

Activity: 81

Merit: 3

Quote from: jseverson on October 30, 2018, 10:21:57 AM

Quote from: stompix on October 30, 2018, 06:55:18 AM

Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote

Annual Fee: Accounts <€5M Maintenance € 1’000
Wire Transfer Fee: € 100

I hope there are quite a few of extra zeros in that table or it's some sort of ~~Aprils Fools~~ Halloween joke !

Lol yeah what are the tokens for if they already keep your cash and crypto for you? It makes much more sense to use those for whatever you might need. The memberships also feel like they just want you to buy tokens.

But yeah, the concept might be intriguing, but I can take care of my crypto myself so I probably won't be in the market for this kind of banking anytime soon. I can see this being quite polarizing.

Crypto Banking, Why? The driving force behind this interest isn’t so much the cryptocurrencies themselves, as it is the technology that the industry is built on – Blockchain!
And also, EQI is going to have an built-in exchange, so you would have everything on one place, check this out
https://nulltx.com/are-banks-really-using-blockchain/

GirlBitcoin

member

Activity: 210

Merit: 10

Dronair Best Operating For Cargo Robotics Industry

I think so. This is really a new business. They do not go through trading floors to make money from investors. Banks are the most practical and investors can control their money at a real office. This will help many investors trust and use EQI. Hope it will succeed and contribute more to the Crypto market.

BitHodler

legendary

Activity: 1526

Merit: 1179

Bank or not, I rather stick to the traditional banks than to use a newbie in the space only out to further extort their users. People value service at low cost, which isn't something EQI can provide.

It's waiting for the traditional banks to add support for people to buy and sell crypto from within their online banking portal. I am of believe that we'll see the first legacy bank doing that pop up before the end of 2019.

I'm not saying it's good or bad with how that's against what people here believe in, but it will happen anyway with how much there is to gain in fee income during active market phases.

Renaldi blackspadeteam

full member

Activity: 504

Merit: 100

EQIBank is definitely proud to get The first crypto-BANK license, I saw a lot of Cryptocurrency competition that was prestigious and getting hotter, and to be honest I wanted to know the end result of crypto competition in the future.

andika2018

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Activity: 700

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From what i know, cryptocurrency created because not trust on banking system. Cryptocurrency eliminate third party like banks. When we creating bitcoin wallet, we like opening bank account, but i think its good idea if cryptocurrency bank will created and we will see the bussiness model

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: cluit on November 01, 2018, 12:30:57 PM

Not a chance! Do you know why I am in this business at the first place ?

To become my own bank, that is what bitcoin has promised me, to be my own bank. I do not like banks, I actually HATE banks and this is why I was interested in bitcoin early on as well, I have been around longer than most people because I was literally searching ways to live my life without having to worry about any banks.

Banks are deceitful and scammers and they will do anything and everything in their power to make even a single cent from you. Banks like HSBC is literally the reason why people are suffering today. They go out and make deals with drug dealers to make their money legit however at the same time they call you and tell you to pay your 1.13 dollar "debt". That is not a freaking debt thats chump change and if you do not pay (who cares about 1.13 dollars) than they will call every single family member telling them to tell you to pay.

I fully agree with you, but we're not the only one in this space.

Crypto related services with a banking license means more money that will flow into this ecosystem, where on top of that, now these services are a bank themselves, they don't have to deal with other shitty banks out of nothing freezing their bank accounts. Just look at how exchanges currently suffer from how stupid and paranoid banks are; they freeze bank accounts left and right for no reason.

Coinbase is working on its license as well, and it will be granted to them for sure, and when that happens, it will significantly increase investor's confidence in that platform, and it might even attract more fiat than ever before.

If there is one thing we need, it's more fiat flowing into this system, and like it or not, the far majority of the people here buy themselves into Bitcoin through a centralized service.

anthonytcm

jr. member

Activity: 58

Merit: 10

Quote from: cluit on November 01, 2018, 12:30:57 PM

Not a chance! Do you know why I am in this business at the first place ?

To become my own bank, that is what bitcoin has promised me, to be my own bank. I do not like banks, I actually HATE banks and this is why I was interested in bitcoin early on as well, I have been around longer than most people because I was literally searching ways to live my life without having to worry about any banks.

Banks are deceitful and scammers and they will do anything and everything in their power to make even a single cent from you. Banks like HSBC is literally the reason why people are suffering today. They go out and make deals with drug dealers to make their money legit however at the same time they call you and tell you to pay your 1.13 dollar "debt". That is not a freaking debt thats chump change and if you do not pay (who cares about 1.13 dollars) than they will call every single family member telling them to tell you to pay.

I mean sure, banks are the antithesis of what we're trying to achieve, but that doesn't automatically/magically makes them dissappear, we need people to be able to take their funds away from banks and make it easy as most people don't care to learn the intricacies of how the tech world is run. With that said, I think EqiBank is precisely that, a mean to this goal, we can't just impose a different economic system without laying the proper foundations for transitioning away from the banking system.

Or that's at least the way I see it.

cluit

legendary

Activity: 1176

Merit: 1016

Not a chance! Do you know why I am in this business at the first place ?

To become my own bank, that is what bitcoin has promised me, to be my own bank. I do not like banks, I actually HATE banks and this is why I was interested in bitcoin early on as well, I have been around longer than most people because I was literally searching ways to live my life without having to worry about any banks.

Banks are deceitful and scammers and they will do anything and everything in their power to make even a single cent from you. Banks like HSBC is literally the reason why people are suffering today. They go out and make deals with drug dealers to make their money legit however at the same time they call you and tell you to pay your 1.13 dollar "debt". That is not a freaking debt thats chump change and if you do not pay (who cares about 1.13 dollars) than they will call every single family member telling them to tell you to pay.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: andriw on October 31, 2018, 11:50:49 PM

Has EQIbank been established and is operating or still in the project? if it is not already operational, then there is one more project that has obtained a license before EQIbank, it is World Bit Bank, they obtained a license in February 2018. You can see it on the website https://wbb.io

They didn't obtain a banking license they've just obtained a license for running a web wallet and an exchange service.
Besides those are obtained in Estonia, and in Estonia, you can get a business up and running in a couple of hours online.

Ignoring the team, made out of guys that were running a fitness business in the past the whole roadmap is hilarious.

Quote

27.06.2018-01.09.2018
Acquisition of an existing bank in Europe;

01.09.2018-31.12.2018
ICO and raising 250 million € for acquisition of nine existing banks (scaling)

250 million for 9 banks? lols, Piraeus sold their crappy business with 100 000 clients in Serbia !!!!!! for 70 million and they want to buy 9 in the EU , US and Japan???

Let's see how this scam will end!

nur rochid

full member

Activity: 1050

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Quote from: jcpone on October 31, 2018, 09:47:54 PM

Let's give this crypto banking a chance considering this bank creates a regulated institution that bridges fiat money and cryptocurrency together with ease. This institution might bring comfort to introduce cryptocurrency to everyone. However, we need to take note the specifics such as transaction fees and insurance.

of course, with the regulating institution, it will add fees to support it. but for me this is not a significant problem, as long as the development of cryptocurrency is clear

andriw

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Has EQIbank been established and is operating or still in the project? if it is not already operational, then there is one more project that has obtained a license before EQIbank, it is World Bit Bank, they obtained a license in February 2018. You can see it on the website https://wbb.io

jcpone

sr. member

Activity: 685

Merit: 250

Let's give this crypto banking a chance considering this bank creates a regulated institution that bridges fiat money and cryptocurrency together with ease. This institution might bring comfort to introduce cryptocurrency to everyone. However, we need to take note the specifics such as transaction fees and insurance.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: timotron on October 31, 2018, 05:37:51 AM

haha banks... Why would someone use this?

You losing your autonomy! you losing your control over money and probably you will need a bunch of documents...

sadly, most people don't enter this space for the autonomy. it's more about greed. there's plenty of people out there (including wall street institutions) that might want investment exposure to bitcoin, but don't want to secure coins themselves. it's not surprising when you consider there's still a lot of technophobia in our society. the older generations, legacy institutions, etc.

in 10-15 years, i bet bank of america and all the other major retail banks will expand their depository services to include crypto.

crwth

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Try Gunbot for a month go to -> https://gunbot.ph

Basically, it's just not what the Bitcoin's future intended.

As the 10 year anniversary of the Original Bitcoin is today, let me quote a part of the abstract of the study.

Quote

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution

The Financial institution meaning

Quote

A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions, such as deposits, loans, investments and currency exchange.
Read more: Financial Institution - FI Definition | Investopedia https://www.investopedia.com/terms/f/financialinstitution.asp#ixzz5VVJ7jQs2

Bank Meaning

Quote

an organization where people and businesses can invest or borrow money, change it to foreign money, etc., or a building where these services are offered

It's just what Bitcoin is preventing these are the thoughts that come up to mind.

proTECH77

member

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Bisq Market Day - March 20th 2023

Really, the first licensed Bank on a centralize platform to enslave the world of cryptocurrency; this is never a good one coming from EQI to Crypto-community. Crypto (Digital currency) sole aim was to build a decentralize platform for freedom, but, now turning into a centralize platform for slavery from the political animals(Politicians). We the crypto-community reject their offer........'s.

timotron

sr. member

Activity: 924

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Trooper Founder & CEO

haha banks... Why would someone use this?

You losing your autonomy! you losing your control over money and probably you will need a bunch of documents...

And these fees are the best!

I will add this to my "funny watch list" Grin

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: jseverson on October 30, 2018, 10:21:57 AM

Quote from: stompix on October 30, 2018, 06:55:18 AM

~

Lol yeah what are the tokens for if they already keep your cash and crypto for you? It makes much more sense to use those for whatever you might need. The memberships also feel like they just want you to buy tokens.

But yeah, the concept might be intriguing, but I can take care of my crypto myself so I probably won't be in the market for this kind of banking anytime soon. I can see this being quite polarizing.

Probably the whole idea behind this token is another stable coin with a fixed value. I really can't find anything about it but it seems like this would be the only way to get licensed as a bank since there is no way they would allow a bank that would have their customers funds at risks with the volatility we experience.

But their entire website is so full of contradicting info and ....mistakes!!!

https://eqibank.com/eqi-token/

Quote from: avikz on October 30, 2018, 07:38:48 PM

Lol!! I though of some fresh ideas that may have been incorporated in this new crypto bank. But it seems like another rip-off like traditional banks.

Seems like this is the new trend right now, we're replacing something bad with something ten times worse.
In the place of banks, we have those webwallets (inputs.io and many others), Karpeless replacing Madoff, instead of the FED we have Ver and bitmain...

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote

EQIBank holds a full, unrestricted offshore banking license in CARICOM and is regulated by the Financial Services Unit[1] and Eastern Caribbean Central Bank.

who issued their license? they claim they are regulated by the commonwealth of dominica, but they are not listed here: http://fsu.gov.dm/registered-entities/offshore-banks

i don't think there's any situation where a single banking license would grant approval to operate across CARICOM, which is a supranational association of caribbean states. what institution is responsible for issuing banking licenses across all of CARICOM, and what authority do they have? the eastern caribbean central bank doesn't have jurisdiction over CARICOM.

given the above confusion (and possibly outright lies) this looks pretty shady to me. nobody should need a bank to hold their crypto anyway.

Topic: First licensed crypto-BANK! - page 3. (Read 11525 times)