Topic: Let's Buy a bank (Read 2372 times)

I'm sure everyone hopes it's an ICO 

It sounds like you should go. There asre going to be people from government attending discussions and a lot of business contacts can be made as well. The CEO David Ruebush has been living in Batumi for over a year now. This is very serious. There is four 5 star hotels that have been booked out for just Altconvention members to be able to attend. Some very good deals have been made so people can get a great price at those hotels to attend.

I hope you can do this, it iwll only help to bitcoin and other cryptos. So good luck. If I have something how to help you, I would do it.

I wonder where OP will find the funds...

 The developer of that new kind of econy system what i am talking about,is well experiencing in investment,financial and economy,and he is really great texh developer

Sounds great to me,thay really know how to boost economy.i can say Georgia.dont be member of EU

it is enough to have free trade agreement

i will like to get in touch with you.lets connect

When i am in that part of Europe,that i can see what wealth really is,

I am from Austin Texas, but have been living and working in Batumi, Georgia Republic for over 1 year now. I used to own a dev center in Kharkiv Ukraine for about 20 years. 2 years ago, when things began to really heat up in Ukraine because of the Russian meddling and bullying, we decided to look around for a better place to move our dev center. I traveled all around the world looking at different governments and living situations because I also want to establish a crypto based business.

During my research I looked at Canada, the USA, UK, Australia, Bali, Hong Kong, Singapore, and various other countries in Europe, Asia, and South America. I was looking for a place where it would be possible to establish and operate a crypto business and work closely with government to move policy that would enable crypto business to bank, develop and thrive. I eventually found Georgia to be ideal.

Georgia is an interesting country. It is one of the safest countries in the world. I think I heard that sometime last year there was a murder in the capital, and I heard that some lady had some money stolen from her purse somewhere, but that is about the extent of the crime here. So, needless to say, the safety here is amazing, and that is a plus.

Over the past 10 years Georgia has gone from a corrupt, dangerous, crime ridden country (as all countries controlled by the Kremlin tend to be) to one of the top 10 countries in the world for lack of corruption, transparency in their government and police force, and safety. Additionally, they are #11 in the world for ease of doing business. There are 2 tax free "havens" in Georgia as well. And you can establish a business here in about 1 hour for about $100 USD. The country has a flat tax of 18% on imports or sales. It is a cool tax system because you only pay the 18% once, not double as in most European and American countries. In other words, say you import something. You pay 18% when you acquire the goods. Then, you sell them without any VAT, customers don't bear the burden. Or, if you choose to import without 18% tariff then you charge the 18% when you sell the goods. So, all goods are only taxed one time. Either when the merchant acquires them, or when they sell them, not both times. If your business earns profit, depending on how it is structured and if you located it in a tax free zone, you either pay 5% dividend tax on your earnings, or ZERO tax on your earnings. So, from a taxation standpoint Georgia is WAY better than doing business in Europe, Asia, or North America.

My honest opinion is that doing business in Georgia is better than doing business in any country on earth. Government is amazing, safety is amazing, the people are amazing, and taxation is amazing.

Now, for crypto. Georgia is an emerging country. It has a fairly "young" government with "young" policies. And, best of all it does not answer to London, Moscow, Beijing, Brussels, or Washington DC. In other words, they make their own rules and apply them. They are western leaning. They are working toward EU membership, Visa free integration with EU, and even potential NATO membership. They are progressive and open minded and want to attract business and investment. And, they are capable to sit with leaders of the crypto community and charter a regime that would allow, foster, and develop crypto businesses. I especially think we have excellent banking opportunities here too.

So, as you can tell, while everyone has been wasting their time with Hong Kong, Isle of Man, and other places trying to figure out where to move their crypto businesses, I have been exploring a little known gem that could be the answer. I really wish other crypto people would engage them with me. :-)

EDIT:

I forgot to mention one other very important aspect about Georgia. The particular part of Georgia where I live is in the Autonomous Republic of Adjara. It is a place that is a trade zone for CASINOS and ONLINE GAMING/GAMBLING businesses...

The money in circulation are "printed" (regulated) only by the Central Banks of one country. The Central Banks (in the democratic countries) have nothing to do with the Governments of the Country. While the most of times the Central Banks and the Governments are in "war" with each other. The Government want (need) money for the investments and Central Banks (which are the responsible for the control of the inflation) inhibit this desire because to much money (the amount needed in circulation is calculated by the appropriate economics formulas) increase the inflation.

The Central Banks are independent in every aspect (have their own "government" which manage the entire "life" of the Central Bank). This kind of banks are called "first level banks". While the other banks (commercial, retail, agricultural, online etc) which are called 'second level banks' use their money to earn money like every other entrepreneurship initiative.

I don't think it is easy to buy a bank. First of all needed capital (million of dollars) to buy and to make it operative. In my country only to create a second level bank is needed (if I remember right) 2-3 million us dollar as a founding capital. Capital which must be reflected if this bank will be sold. Every country determines different amounts of this initial capital but in every occasion it is not an insignificant amount.

So it is not easy to own a second level bank. Anyhow I wish good luck to this initiative.

EDIT:

The initial capital to create a second level bank in my country is not 2-3 million us dollar but about 8 million us dollar. Money which must be deposited in the Central Bank of my country. It was increased by the times I remembered this fact.

Personally i am in crypto to avoid banking.Mowwewill have first in USA,dengerous for me

What your bank will like to offer,some banking products like cards,exchange crypto to fiat
now in Europe it is preety easy to exchange,but i think in russian speaking country,ex russia republic and russia it may works

Iif you are from Georgia,do you what is a situation in ex russia republic.whatservices people are using,exchanges,wallets.I ve been reading that Ukraineis  now very friendly for crypto,How is in Georgia
I work for a kind economy system,weare putting special attantion in that countries,i also looking for legit contacts from thatcountries for coparation,it is serious
Regards
P

I think you are confused between central banks and retail banks.

As I understand it, banks create money each time a loan is made.
https://youtu.be/iFDe5kUUyT0?t=1m21s

You do realize that it is not banks that print money, it is the government mints. Banks money come from investors putting it in there. That is why banks have gone under, if all the investors suddenly want their money the bank cannot supply it because it has already lent it out.

Not sure if you bothered to read the original post at the beginning of this thread. If you did, you would understand this is not a complete plan. This is an idea, one of many, to get crypto people to the table with heads of state, senior government officials, and banking industry executives and regulators. The idea to buy a bank is one of the ideas that could enable the further goal of establishing a crypto-friendly government/banking regime so that businesses developing in this space can establish, develop, and grow in a more reasonable environment.

Buying a bank is a complicated project. One that would require the right team, investors, capital, compliance, etc. However, it is not an impossible task. Millions of banks exist in the world today. Somehow, someone established each of them. If it has been done millions of times over in the past, why do you suddenly think it could not be done again?

As you stated regarding Zukerberg and somehow implying that by owning a bank you can print unlimited money, it is obvious you don't understand the banking/finance industry. Just because a person owns a bank does not mean they can suddenly print unlimited money. There are rules, regulations, policies, and other limitations that must be adhered to if one wishes to establish/buy and operate a bank in the modern world.

Not sure exactly if you are referring to the power of the Central Bank or if you are trying to state that most banks would not sell. However, if you do some research you will see there are many brick and mortar banks around the world that are for sale, or that could be for sale. The lowest price I have seen for a real, established, functioning brick and mortar bank is under $100,000 USD. However, I feel a truly realistic endeavor would want to seek a more established and more valuable target.

LOL...Must be too much coffee

Is there a too long; didn't read version of this?
Sorry but just by looking at it I get a headache.
Or is that because I had too much coffee? 

Why do you think this? I would love input. Especially constructive criticism and potential obstacles we need to address. I mean, any logical thought can easily deduct the obvious facts. Such as the fact there is a need for certain funding, people that are experienced in banking, legal and registry hurdles, etc. However, we are working already to put together the stuff that could make it happen. And, in my opinion, Georgia may just be the country to do it.

I currently live in Batumi. It is in the autonomous republic of Adjara. Adjara was established to be an autonomous region with certain legal aspects that could work for crypto. For example, it is a region where online and brick-n-mortar casinos/gambling are legal and actually encouraged. So, the govt and banks here are friendly to online gambling. Another thing, there is the Poti Free Trade Zone. It is a place where anyone can establish a business that is 100% TAX FREE!! That means no income tax, no VAT, no import/export tariffs, no employment taxes, absolutely ZERO taxes.

Oh, and unlike the Isle of Man, or Hong Kong, or Singapore, or other "crypto-friendly" regions, it only takes about 6 hours and about $100 to form a legal business here in Batumi. #8 in the world for ease of doing business. I have been here for 1 year researching and laying the ground work for political, government, and banking opportunities for crypto in Georgia. I honestly can say that if the crypto community would get involved, we have a HUGE chance!

Lets do what we can to make this thing work. Cryptocurrency is the Future...let's establish it well. I'm looking forward to the Alt Convention! Sounds Very interesting!
'

Seems like a long shot

AltConvention sounds like the event that will unify the crypto-currency community. After all we are all in this together in one form or another. It is conventions (mass gatherings of the minds) that will change the world, for real. Bravo, AltConvetion, lets make it happen.

We have the ability to come together because of a great idea. After all, that's how we all got here in the first place.