Topic: TESTERS NEEDED (BTC-escrow Bank) - FREE BTC FOR TESTERS - page 5. (Read 6103 times)

They didn't. SWIFT simply have no interest in the damn thing (I speak from personal experience).

What about the administrator, who is anonymous with a new forum account?  What security is there in place to stop him from just disappearing with all the deposited coins?

they didnt secure it in a very good way then.

We are going to try 3 simple steps, but helps your money be safe:

 - All funds are deposited into BANK-WALLET#1, but using different ID's for every deposit. Helps us identify how much belongs to who, and automatically updates your account when there are enough confirmation
 - Every 3 hours, there is a automatic transfer to BANK-WALLET#2, leaving only a pre-set amount of bitcoins in BANK-WALLET#1
 - BANK-WALLET#2 is then splits the amount again, into 5 different wallets, those wallets are stored offline.

Each of those 5 Wallets, is stored on a Seperate USB Stick, and Paper copy.

This is not 100% safe, but those are only a few of the security measures that has to be in place

Yeah, that's true. That's why we use BTC - be your own bank and never trust any 'banks'. (like this bank...)
Most of the 'banks' are hacked before at this point, and most of them never repay the funds.

instead of using other banks, why not become a bank? that how you bet the banks!

+me
would like to take part in testing

I would love to test your platform, buzz me please.

And how did you guys managed to rope in SWIFT (Society for Worldwide Interbank Financial Telecommunication) ? Wow. Good news.

Great News People

SWIFT (Society for Worldwide Interbank Financial Telecommunication) have confirmed they'll let me use there platform to send and receive payments!

That to me is a major milestone, as the banks are now clamping down as such on bitcoin transactions, now with SWIFT on side that means its no different from sending money to someone else in another country, its just the same! and its harder for banks to stop us from paying you!

I'll keep people updated on the website construction, as we have just implemented the LiteCoin and BitCoin system into our Banking System!
You Can also convert Bitcoins to LiteCoins and Vise Versa. Thsi feature should be rolled out in the next month! about a week or two before our banking we hope!

Test bitcoins, its no way near ready to uae the real, it'll be a simulation test, going to have the feeling of the real thing tho.

And yes 'another bank' like it says in the title

Here comes another 'bank'.

So...will we be testing with test bitcoins or will you be providing us with the coins necessary for testing?

I doubt anyone will put their coins on your site without a lot of reason to trust you.

Other than that, I would like to help test it. I am currently receiving interest on a small amount of my bitcoins but would like to explore every option.

oh forgot to mention, that when this is system is live, there will be a Visa Debit card linked to the transact accounts.

We are still sorting out how this will work wether it means you convert the bitcoins to your local currency and then spend like normal money. (We buy the Bitcoins at lower market rates from you, and then we give you the money on your Debit Card)

We make the money back buy reselling the bitcoins but thats not for you's to worry about

Im in need of some people testing a new banking platform.

I'll need around 100 people, and you'll be split into a few teams but each team rotating testing out each feature for themselves!

You'll need to Create a BTC-Escrow Bank account, and open the accounts that matches your needs!(in BETA you'll open every kind of account!



There is a, BTC Transact account, BTC Savings Account, Loan Accounts, Investment accounts and accounts also available for Business's



The transact account is like a normal transactional account with a bank, you deposit and spend as you would much like a normal bank account. we try to encourage to setup an automatic savings scheme with us but thats upto you!


The savings account ties in with the Loan Accounts, but the Savings cannot be touched if there's an outstanding loan unless hardship can be proved. Here's an example of how this works:

If John has savings of 30Bitcoins, he can then take a loan with us, for a total amount of 30bitcoins from his loaning account. Johns savings is still there, but because he's asked for a loan against his savings, the bank puts a hold on the savings, and cannot then cannot be withdrawn. But if he has taken a loan of 25bitcoins, he can take 5bitcoins from his savings but not be able to take the remaining 25 as there is a loan against his savings.

If the loan is partially paid back, so once again if he had taken a loan of 30bitcoins but has paid back 20bitcoins of the total 30bitcoins, he can ask for a topup on his loan upto the amount of savings that he has.
If John defaults on his loan amount, we can take the savings etc...

Eveytime a loan is approved there is a small fee to apply, this is to help cover admin costs etc,

We does not in anyway stop people from taking there savings unless they have a loan with us, but by offering this type of loaning system, people can build up there Credit rating with us, and when the bank feels that the person is less and less of a risk, the amount held against the savings account is less for example:

John has had 6 loans within the last few months with us, he has always paid on time, and he now has 100bitcoins in his savings, because he's demonstrated he can pay on time, he can now have a loan of 120, even though he only has 100, we as a bank think that he will payback on time

If you do not have a loan with us, then you can freely access your savings account, but there will be a limit of how many withdraws there is a month before you incur fees, after, it is all about savings!


Investments account are for those that want to invest with us, we try to find the best investment options for you, wether thats in a business, or on exchanges such as, MtGox, etc. we'll find the option right for you




So your job as a beta tester is to. Do all this, apply for loans, transfer money, pay back loans, watch al ltransactions that your doing, and see how the system works.

Those who are interested, then please leave a comment below, and any input about this would be awesome!