But I mean, simple question, what does "personal banking" even mean ? Like loans to private individuals ?
Sorry, I meant retail banking. As opposed to an "Investment Bank", or "Central Bank". 
Topic: What functions would/could a Bit bank provide? - page 3. (Read 3914 times)
I'm not so sure that this is true in personal banking.
Well, it is.Max Keiser is an expert in the field of finance (esp financial fraud), and a former insider...hell he invented the algorithms that JP Morgan etc use for their high frequency algorithmic trading scam. Anyway, do your own research and see if it's true or not. You asked for a source, you got one, and you call it a fairy tale.
Of course banks don't have the money they lend out, why do you think we're off the gold standard anyway?
Reliable non-tinfoil-hat source backing up your statement?
I have no desire to prove anything or convince you of anything.If you desire knowledge or proof you will find it.
But I mean, simple question, what does "personal banking" even mean ? Like loans to private individuals ?
Banks are redundant.
I'm not so sure that this is true in personal banking.
Well, it is.I'm not so sure that this is true in personal banking.
Well, it is.http://www.youtube.com/watch?v=WKF8XHeQHpU
How about a bank that stores all deposited money in bitcoin? This bank would:
* allow accounts to be funded with their bitcoin or USD (thinking US-centric for the moment)
* allow deposits and withdrawals in USD or bitcoin
* automatically convert USD deposits to bitcoin, and convert back for USD withdrawals
* instead of paying interest, account holders gain value as bitcoin appreciates
* issue debit cards drawn against the account
* provide a smartphone app for easy direct spending of bitcoins
* charge all fees in bitcoin
* initially use mtgox for conversion of funds, but eventually operate its own exchange (and earn money from the spread in buy/sell)
* provide security and guarantee bitcoin and USD funds from theft
* allow members to set percentage of funds to hold in bitcoin vs USD (risk management)
A bank like that would quickly become my primary bank.
* allow accounts to be funded with their bitcoin or USD (thinking US-centric for the moment)
* allow deposits and withdrawals in USD or bitcoin
* automatically convert USD deposits to bitcoin, and convert back for USD withdrawals
* instead of paying interest, account holders gain value as bitcoin appreciates
* issue debit cards drawn against the account
* provide a smartphone app for easy direct spending of bitcoins
* charge all fees in bitcoin
* initially use mtgox for conversion of funds, but eventually operate its own exchange (and earn money from the spread in buy/sell)
* provide security and guarantee bitcoin and USD funds from theft
* allow members to set percentage of funds to hold in bitcoin vs USD (risk management)
A bank like that would quickly become my primary bank.
I'm not so sure that this is true in personal banking.
Well, it is.I'm not so sure that this is true in personal banking.
Well, it is. Well since banks don't lend out depositor money but rather create new money through loans and fractional reserve banking... I didn't think along those lines. I suppose there could be a bank that offers loans with interest rates for bitcoins.
Of course they lend out depositor money, where do you think the "reserves" in fractional reserves comes from?
Interest and time deposits
though it would be hard to do that
though it would be hard to do that
Well since banks don't lend out depositor money but rather create new money through loans and fractional reserve banking...
I'm not so sure that this is true in personal banking.
Well since banks don't lend out depositor money but rather create new money through loans and fractional reserve banking... I didn't think along those lines. I suppose there could be a bank that offers loans with interest rates for bitcoins.
Have you thinked on natural uses of a Bank, loans / mortgages?
I was wondering if in the future a bit bank is created what services could it have? A few examples I was thinking of that might be possible:
A bit bank might just be an easier place to store bitcoins for the average user so they didn't have to worry about losing the coins
A bit bank might be just an "additional signature" to someones wealth. You could store your own wealth how you wanted but you could require some signature from the bank. (not to get off subject but this would be especially useful for preventing bitcoins from being used to kidnap for ransom possibly. If you stored your wealth with a bank that had a policy of not signing wealth over in the event of a ransom then it might thwart that however unlikely scenario)
Would a bit bank also be able to provide "faster" transactions?
A bit bank might just be an easier place to store bitcoins for the average user so they didn't have to worry about losing the coins
A bit bank might be just an "additional signature" to someones wealth. You could store your own wealth how you wanted but you could require some signature from the bank. (not to get off subject but this would be especially useful for preventing bitcoins from being used to kidnap for ransom possibly. If you stored your wealth with a bank that had a policy of not signing wealth over in the event of a ransom then it might thwart that however unlikely scenario)
Would a bit bank also be able to provide "faster" transactions?
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