Perhaps show us your previous web development skills? Or do you propose to perform all tasks manually on your computer with 2tb of storage?
If you have an idea, do a bit of work on it and come to the boards with something to show before you start asking opinions. This is your project not ours.
Topic: Starting a Bitcoin Bank. (Read 1178 times)
People wouldnt join if theirs ads. Ill figure it out, Ill probably just charge 1% of all transactions then hows that sound?
Well, let me tell you. It sounds absolutely hilarious.
You offer a service no one wants or needs and then propose charging an exorbitant fee for it. How about no?
Thanks, But security is going to like this: You can choose to be on a Offline server where you have to get verification to make ANY Transaction, Verification could be a document, or ID that you submitted in the Sign up form. Or unsecure, Just like blockchain.info Unsecure would be free. But I decided to just charge $1 A month maybe? For secure
Good luck.
Perhaps you will succeed, but I don't expect you to.
Perhaps you will succeed, but I don't expect you to.
After reflecting on it the whole concept of a bank is a little unnerving. Yes, I'm going to pay you to hold onto my money, surely this is a good idea. How'd this all get started to begin with and why'd we ever go along with it?
Security was probably the biggest factor, and it's essentially what you're paying for. You can keep all your money in your home in a shoe (or, if you're wealthy, in a silk slipper) or you can keep it in a bank vault. In that sense, bank fees don't bother me too much.
Problem is that a lot of banks began charging fees for anything they could think of. The bank I alluded to earlier is one of the worst I've seen in my area, along with Wells Fargo. My bank isn't bad at all: I pay $1 a month, and that's it. But when I see statements from some of the banks in this country... well, I truly wonder how the owner of the bank can sleep at night (aside from "on top of a golden mattress stuffed with $100 bills).
Do you actually have any IT qualifications or experience to backup the setup of this system?
If you're attempting to run a tech startup, you either need a lot of money or real world experience. This is how people will trust you to hold their money.
If you're attempting to run a tech startup, you either need a lot of money or real world experience. This is how people will trust you to hold their money.
Lol I guarantee it wont be hacked. You can choose if you want your wallet stored offline or online. Offline would be more secure and the fees would have to be higher.(Better for higher btc balances) Or Online for Low btc balances
You can't guarantee that. Look at how many times mt gox was hacked before they got it together, and your one guy, they have a team.
People wouldnt join if theirs ads. Ill figure it out, Ill probably just charge 1% of all transactions then hows that sound?
Lol I guarantee it wont be hacked. You can choose if you want your wallet stored offline or online. Offline would be more secure and the fees would have to be higher.(Better for higher btc balances) Or Online for Low btc balances
After reflecting on it the whole concept of a bank is a little unnerving. Yes, I'm going to pay you to hold onto my money, surely this is a good idea. How'd this all get started to begin with and why'd we ever go along with it? I know, savings accounts accrue interest to try and keep up with inflation but it still seems like a horrible proposition.
So how much should I charge and how should I get my income?
You can have limited ads, maybe charge for an ad-free version, you could transfer btc to usd and vice versa, there's a lot of ways to profit. PM me.
This is a horrible idea, and will just paint a big target on your site. Look at Mt Gox, they were hacked so much.
So how much should I charge and how should I get my income?
So, I will pay you 5% of my money for you to hold on to my money for me?
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
On top of that, you want me to trust you that you will let me have my money (minus the 5% and 2.5%) when I ask for it?
Anyone who gives you their money, deserves to lose it.
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
On top of that, you want me to trust you that you will let me have my money (minus the 5% and 2.5%) when I ask for it?
Anyone who gives you their money, deserves to lose it.
So, I will pay you 5% of my money for you to hold on to my money for me?
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
Hell, it's not like existing banks don't do that already.
I have a client whose bank charges them an inactivity fee: a charge to their account for not spending their own money. When they do spend their money? They get normal activity fees.
I won't say which bank it is, but I wouldn't trust them any day under the sun. >.>
If you have fees like that, not many are going to use it. Do you have any ideas of who would financially back a currency based off the internet?
What about people who have dynamic ips that change every time they go online?
What about users from other countries? You can't just try to use a US government website for them.
What about people who have dynamic ips that change every time they go online?
What about users from other countries? You can't just try to use a US government website for them.
So, I will pay you 5% of my money for you to hold on to my money for me?
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
On top of that, you want me to trust you that you will let me have my money (minus the 5% and 2.5%) when I ask for it?
Anyone who gives you their money, deserves to lose it.
Then every time I want to spend any of my money, I will pay you another 2.5% of the transaction for the privilege of you letting me spend my own money?
On top of that, you want me to trust you that you will let me have my money (minus the 5% and 2.5%) when I ask for it?
Anyone who gives you their money, deserves to lose it.
With fees like that why would I want to use your bank? The whole concept behind Bitcoin is that it is decentralized and the users essentially become their own banks.
Now there might be a market for some sort of high security "vault" that could manage long term storage of Bitcoin. This would be for customers that are worried about theft of their Bitcoins from their home or some such thing. This would be tough to implement though and you'd have to build up trust within the community for people to want to send you large amounts of Bitcoin.
Now there might be a market for some sort of high security "vault" that could manage long term storage of Bitcoin. This would be for customers that are worried about theft of their Bitcoins from their home or some such thing. This would be tough to implement though and you'd have to build up trust within the community for people to want to send you large amounts of Bitcoin.
We will check the license number on the US Goverment website. You cant know if anyone is going to steal your money you just have to trust, No interest there will be a fee of 2.5% for each transaction Or a one time fee of .1-.2 Btc maybe less, I may look at insurance, We may do lending, And our profits come from you ( 5% Fee )
How can I know that you won't steal my money?
Also, how will you know if the scanned license is real or forgery?
What benefit do I get from using your bank?
Will deposits be insured? By whom?
Will you charge me a fee for providing me with security, or will you pay me interest for allowing you access to my deposit?
Where do the profits of your bank come from? How do you pay your costs associated with running the "bank"?
Will you engage in fractional reserve, lending out a percentage of the deposits?
If so, what percent will you keep in reserve? How can I verify that you actually have that percent in reserve?
If not, how can I confirm that you are not engaging in fractional reserve lending?
Also, how will you know if the scanned license is real or forgery?
What benefit do I get from using your bank?
Will deposits be insured? By whom?
Will you charge me a fee for providing me with security, or will you pay me interest for allowing you access to my deposit?
Where do the profits of your bank come from? How do you pay your costs associated with running the "bank"?
Will you engage in fractional reserve, lending out a percentage of the deposits?
If so, what percent will you keep in reserve? How can I verify that you actually have that percent in reserve?
If not, how can I confirm that you are not engaging in fractional reserve lending?
How can I know that you won't steal my money?
Also, how will you know if the scanned license is real or forgery?
What benefit do I get from using your bank?
Will deposits be insured? By whom?
Will you charge me a fee for providing me with security, or will you pay me interest for allowing you access to my deposit?
Where do the profits of your bank come from? How do you pay your costs associated with running the "bank"?
Will you engage in fractional reserve, lending out a percentage of the deposits?
If so, what percent will you keep in reserve? How can I verify that you actually have that percent in reserve?
If not, how can I confirm that you are not engaging in fractional reserve lending?
Also, how will you know if the scanned license is real or forgery?
What benefit do I get from using your bank?
Will deposits be insured? By whom?
Will you charge me a fee for providing me with security, or will you pay me interest for allowing you access to my deposit?
Where do the profits of your bank come from? How do you pay your costs associated with running the "bank"?
Will you engage in fractional reserve, lending out a percentage of the deposits?
If so, what percent will you keep in reserve? How can I verify that you actually have that percent in reserve?
If not, how can I confirm that you are not engaging in fractional reserve lending?
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