Bitcoin Forum

reserve indonesian translation if needed

It is good to see there are a proven network behind this. I wish the best

can you give me mopre info about your project? i mean whitepaper, why you dont have whitepaper

It would be a great pleasure for me to work with you on this project. So I reserved the Turkish translation for my own name.


https://bitcointalk.org/index.php?topic=2038353.0

I do not understand what is the use of the project since we are discussing the same project here?

whats the reward?? as u said the transactions will be free forever.

Many thanks for your interest in our project. More details are on our site.

We will be releasing the white paper shortly.

Our model is similar to many of the world's most successful technology companies. Think about emails, search engines and social media sites. They are free for the average user. As a result, they gather billions of users and make profits on value-added services.

We offer basic banking services for free. For example, user to user or user to merchant payments will be free. This will attract many users. We get big data and generate revenue from value-added financial services.

Our business model will be fully explained in our forthcoming white paper.

How in terms of security will you put the hardest system to hack?
And how many standard terms of speed in transacting?

OK waiting for that

Hello,

Very interesting project fund.
If by chance you need it, I would be very interested in contribute to your project with, a professional quality, Portuguese translation for the BtcTalk official thread and also other elements, as the White Paper, Website, articles and interviews.
Let me know if you are interested.

previous jobs:
-- https://bitcointalk.org/index.php?topic=1786648.0
-- https://bitcointalk.org/index.php?topic=1767517.0
-- https://bitcointalk.org/index.php?topic=1792597.0
-- https://bitcointalk.org/index.php?topic=1794030.0
-- https://bitcointalk.org/index.php?topic=1751650.0
-- https://bitcointalk.org/index.php?topic=1728455.0
-- https://bitcointalk.org/index.php?topic=1766556.0
--------------- and more----------------

Good luck and best regards,
Raxitto

Set up in 2013, LakeBTC.com has an unrivalled reputation in terms of security.  To achieve that, we have rigid processes for internal controls, audits, information barriers and others.  We leverage our experience from banking and financial services and endeavor to provide the same level of security to safeguard customers' money.

Do you have a specific question about this project? Thanks.

interesting.

but how to free ??  what the difference between you and okoay, perfect money etc. they are also free to transfer with a high withdraw fees. the other hand, PayPal is not free to transfer and has a relatively cheaper fee to withdraw.

so if I understand correctly, this project is completely free? or another type?

Will keep track, currently not much info given yet in the opening post.

so what is the 'small number'?
can you just post it here ?

Reserved Russian translation if required

Internal payments will be free (user to user, user to merchant etc.), even international payments.

Deposits and withdrawals is where our crowd-banking model comes in: You send out a deposit request on the app, it gets accepted by a nearby LakeBanker (our AI engine finds optimized matches). You pay they LakeBanker and they credit your account on the system. The LakeBanker earns a fee (in our token BAC) for this service. LakeBanker fees can be subsidized initially by our user growth fund and eventually by our returns from value-added financial services (credit lines, p2p lending, and so on). Certain quotas and conditions may apply.

Sure. 2% of the Tokens are on sale in Phase 1.

More details on our site. We will be updating this page continually as things get finalized.

i think this project is interesting
bookmark for waiting more information
goodluck dev

Very interesting and looking forward for it.

OK
looking forward for more details about it

sounds interesting, but before join in, I will wait for the more details too.

Looking forward to the white paper,

how to participate in? and what will be the rewards as return??

I think it's the point, there is no one willing to be a philanthropist.

I think you have the same feeling with me, if its free, how to make profits on it?

I do not understand what is the use of the project since we are discussing the same project here?

the point is that What will be the benefit after I buying this BAC token?

can't imagine if BAC have no value or practical value. After all, there are too many scams here

Our model is similar to many of the world's most successful technology companies. Think about emails, search engines and social media sites. They are free for the average user. As a result, they gather billions of users and make profits on value-added services.

We offer basic banking services for free. For example, user to user or user to merchant payments will be free. This will attract many users. As we acquire and analyse more user data we will generate risk-adjusted revenue by offering various types of financial services, for example p2p lending, credit cards, car loans, student loans, micro loans, residential and commercial mortgages, insurance, equities, financial advisory, funds, trusts, asset-backed securities, mortgage-backed securities, crowdfunding, and ICO.

Our business model will be fully explained in our forthcoming white paper

Will have to follow the project from near to see how it leaves are still many days to start to see how things go ;)

Maybe BAC just be an another altcoin, buy this token is like buy a coin which yet on market, and if you were lucky, you can earn much when the token on exchange, or you will go bankrupt.

On the plus side, LakeBTC is a bitcoin exchange, we have no need to worry that the BAC can't be trade on the market, perhaps this is the biggest advantage of this project, so far.

at last, this thing is essentially gambling, you win you rich, you lose you dead.

Conversion rate for phase 2 is final or need to modify there. Very big difference between phase 1 and 2 because participants of phase 1 get 10x more just investing there. This is very confusing thing can you explain about them?

Why do not you treat it as a stock share directly? So that we can look forward to its benefits more, as we buy the initial shares.

stock shares has a regulatory dept.  but token sales no. so the scam will be more here.

if you are unlucky, and just met the scam, stock shares will give you a bankruptcy subsidy, but you will lose everything here.

said back, even you know LakeBTC is not a scam, but we still not know how the LakeBanker run, and how the BAC use, so let's wait the whitepaper to see whether it should be buy.

OK, thanks for the explanation, will wait for the white paper  :P

yeah the idea is interesting, but where and how to find lakebanker?
even as perfect money, okpay etc which have developed many years, the partners were not too much and wide. and their exchangers are all corporate instead of individual.
so saw your website plans to train 100000 private lakebanker around the world, it's mad and crazy :o

Similar to ripple，steem?

The mode of operation is explained too simply, without understanding, please elaborate

To participate, please go to https://lakebanker.com/ and click on the "Get Token BAC" link. It will take you to a page with information on how to participate.

Some of the most successful technology companies in the world are free to the average user. Are Google or Facebook just philanthropists?  They are so successful because they offer many great services for free - they attract billions of users and generate revenue from value-added services.

Our token (BAC) will be well-intergrated in our business model and has significant, long-term utility in driving transactions in our system. BAC in the LakeBanker system is comparable to XRP in Ripple (see https://ripple.com/xrp/) and ETH in Ethereum (https://www.ethereum.org/ether). BAC is the fuel or, more precisely, the de facto currency of the system. All fees and interest in the system will be denominated in BAC. BAC will be based on the Ethereum blockchain and is ERC20-compliant.

When the LakeBanker system is mature, BAC will circulate amongst millions and eventually billions of users. The demand will be very strong. The price of BAC is in the future is likely to reflect this.

BAC trading will be enabled at LakeBTC.com 3 days after the close of Phase 2.

Thanks for the detailed explanation, will login the website to take a look.

hi dev could you reserve for me italian translations thanks!

yeah, also think so.
is it just another e-Wallet like OKPay, PerfectMoney etc?

A digital wallet allows an individual to make electronic transactions only. That is just a very small part of what we offer.

We are also a financial services company. We expect our free payment network to attract many many users. We acquire big data, which gives us, higher---risk adjusted----returns on the financial services we offer (for example p2p lending, credit cards, car loans, student loans, mortgages, micro loans, insurance and asset-backed securities).

In addition, our crowd banking model significantly reduces our overhead when compared to regular banks (we don't have brick-and-mortar branches, for example).

Further, we are Blockchain enthusiasts! We want to bring cryptocurrencies to the world's billions.  

ok, a little more clear about this.
expectancy

For phrase 2, we may adjust prices before the sale starts if market prices change dramatically. We are doing phase 1 to gather feedback from the community and collaborate with early investors in the early phase of the project. In return, we are offering tokens at a discount.

Please remember that phase 2 will be an auction: the market will determine the final price of our tokens. We believe that this is the fairest way.

I like the idea of Crowdbanking, Peer to Peer lending is already quite huge and this makes sense as something Crypto could do really well in.  

My only problem is the fact that the ICO is restricted to just ETH, if it were open to accepting BTC it might be something that I would be interested in, is there a possibility to offer BTC as a method also?

Edit:  Apologies, I see that BTC is accepted also, I was just looking at the conversion part where it showed Phase 1 - Fixed Price Sale   1 ETH = ? BAC

Ripple's approach is to beg big banks to use their tech, and to replace the current SWIFT. They claim to be SWIFT 2.0. It's like a top-down approach. LakeBanker is different. We are bottom up. We don't beg banks to change. We change banks. We are more than just a payment protocol. LakeBanker is designed to offer a wide range of banking and financial services. So we believe our potential is much bigger than Ripple's.

Our model is to coordinate a Peer-to-Peer market in which individuals supply banking services to one another. Steem is also Peer-to-Peer in social media whilst we are in banking and financial services. So it is a completely different use case.

Our crowd banking model is unique. No one is doing what we are doing.

Sure, no problem. The price of tokens is stated in terms of ETH. The price in terms of BTC will be determined by the exchange rate at the time.

This is easy to understand, the structure of ETH is suitable for ICO or token sales, but BTC is not.

Still, you can set a rate of BTCETH, then you can accept BTC at the same time.

I like this one , waiting for more news

ok, I think the concept is interesting, but the mission is so boring.

people who need transfer money frequently are always few, most people will not transfer even once a year.

as said lenging, loan, insurance, this may be novel, but if these are free, how do you run the business?

maybe my mind is too stupid, and I look forward to your more detailed plan.

Nothing is free when it comes to money. Especially Free Banking sound weird...But hey, good luck.

Do not make a judgment too early, you see, it just a beta version which even have uploaded the white paper yet.

let's wait and see how it's growing

Without a roadmap for technology development, just a roadmap for economic development, without a technology development team,   Perhaps not block chain technology    the 2019 roadmap is impractical and impossible to complete.

reserved chinese translation, please PM if needed

I did not make a trial, I just said my thoughts. anyways, we need more instructions to decide whether to join the investors of this project

just as I said, it's crazy and mad. maybe the next version will explain it carefully and release a detailed plan for each step, it's obvious that no one just looked at the thumbnail to set off.

so I would never say something was impossible, I do not want to be a false prophet even if only one ten thousandth chance.

did you joined their Telegram? there seems only a few people and nothing happened for now.

interesting concept. Looking forward more info. Wish your project good luck.

A good banking company for the future, when has branch in indonesia ;D ;D ;D

We don't have branches. All the functions ordinarily provided by high-street branches are sourced from our network of LakeBankers (individuals, convenience stores, money exchangers etc). This is crowd banking.

Our network will grow exponentially. So, there will be many, many LakeBankers in Indonesia and everywhere else once we get going.

Look out for us man. We're coming. And high street branches will be a thing of the past when we're done. 

I've seen a lot of things like that, it may people who deposit to buy coins are too many, or people who sell coins to withdraw are too many, no matter which one happens, there will be liquidity issues.

especially when the volatile are huge, just like now. the greater the volume, the greater the crisis. and once the crisis come, the exchange also have no way to deal with, they can usually do is only wait to the price volatility gone.

could i know what happened on you?

maybe producing 100 thousand in one year is not difficult, do you know how many new seller shops were opened every year on ebay? these are template production, as long as the first batch, the rest completely without any difficulty. but if the first batch has not been successfully manufactured, it must be failed.

I really agree with the mission and goals lakebanker.but how to realize such a mission
 ( make banking free, for everyone, forever, and to deliver other financial services, including access to cryptocurrencies, at a much lower cost)

Seems interesting!!
Good Luck - shall keep monitoring!!

I am interested and will follow this topic so I wont forget. Seems like a good initiative.

It seems cannot login to LakeBTC.com after register an account, anyone facing same issue ?

It looks like we have to wait for more information about this token project, in fact its roadmap is good, just we'll see if this token will be good, like the plan of this project. I will ask permission to bookmark first

great!

should we would have a bitcoin credit card with a new card organization? it's really exciting!

Very interesting

With a pretty convincing concept, I'm sure this project will absorb a lot of manpower, but I guess with such a good concept, it needs a bounty or a signature campaign to expand it, and more people will be interested, good luck

before entry Bitcoin, I was these people who never use bank or other payment to transfer money  :'( 

but now, I can say that I will send or receive at leaset one transfer every week.  :D

meanful concept and easy to understand, I am interested. but I need to know how to reach the goal, by steps.

Any bounties? I like it though but it's a long wait as it will be held until October.

The only problem with stuff like this is that it takes a decentralized unit and turns it into something that is more centralized. The exchanges have done enough by half having to meet the know your customer regulations and things like that. Any website that's going to deal with your address going to have to keep it in a database all of this is becoming centralized we're trying to keep it uncentralized that is the entire idea of Bitcoin and the entire idea of a blockchain.

If you could do this using simply software simply wallet software and nothing else no websites or anything like that then you might have a better shot otherwise you're just taking it easy centralized currency and turning it into something that's becoming centralized. We do not need anything that is centralized as we are already fed up with fiat centralization thing.

you might like this decentralized  transcations, but for this lake banker project, how to decentralized is wait for them to explain more.

agreed, how to decentralized and keep the system running efficiently, this is a challenge for the project.

interesting mission, if it was successful, it may make the bank disappear from this earth.

but, so many other companies also claim to launch a revolution with bank, such as Alipay. however, Alipay eventually had to admit to the bank, and lose.

how do you think LakeBanker will avoid the control of government? Or, as far as possible not against any government's policy.

another problem is that if there is a fraudster to be your banker, he will just run once he received the funds, what should you do?

you may have its own personal authentication information, however this is not only a credit problem, the key point is the money have gone.

so I think this is too early to decentralized the banking authority, because it must be built in a credit world. 

wow, amazing concept! I can imagine the blueprint, can't wait to check the official version and see more details.

yeah, lost of problems have not explained in this thread now, I think this is just a pre-announcement instead of official announcement.

even the phase.1 is also pro-sales, They plan to arrange official sales (phase.2) in October.

so, I will not evaluate whether the lakebanker project is worth investing or not, until the team put all the information available to the public.

It's great to see Lake Banker project evenutally launched separately.
as the first batch of bankers, I was happy to make profits for help people buy/sell bitcoins, but with the users' growth, eventually I was overwhelmed by the strong requests.
 

how much do you earned every month? $500? $1000? $5000? or more?

for a cross-border business, such a problem need a professional bar of lawyers.

nothing can be done overnight, everything always has a beginning. I am looking forward to seeing the specific steps from the team/

if you need chinese translation  and chinese thread management please Pm me.

With the free banking project in the world hopefully everything can be done quickly, so the money cycle will flow with a little friction, from one person to another, from one currency to another currency and from one country to another with a relative cost Cheap, safe and guaranteed as soon as possible by the legality of a country.

I have get my Lakebtc account back, and deposit some btc to  account balance.

how to join in the Phase 1. token sales? your instructions (https://lakebanker.com/sale) just said make a payment to tokensale@lakebanker.com. but it did not any respond after I send a payment to the designated account, that only my balance was deducted accordingly with no BAC token happened.

had I been involved? any tips or records?

It's an ambitious mission for sure. We will be releasing many more details soon in our white paper.

For now, the basic way we execute this mission is as follows:

Banks suck. They rely on outdated technology (paper, physical cards, atms) and their business model is out of date: they still have brick and mortar high street branches and sometimes hundreds of thousands of employees. That's why they are so expensive.

We use the latest tech (especially mobile and AI) and a crowd banking model to massively reduce our costs. Say you want to make a cash deposit: you click a button on our app---the app transmits the request to local LakeBankers (kind of like calling an uber). A nearby convenience store accepts. You drop off your cash there and you're payed into the system. The cost to us of accepting the deposit is almost zero. We don't need expensive branches. We don't need many employees.

Our reduced costs compared to traditional banks mean we can offer core services for free. Especially user to user and user to merchant payments. Free services like these are incredibly useful. We expect to attract many users. This gives us a large market to which we can offer financial services (loans, p2p lending) etc and gives us access to Big Data. This is how we will make money.

will you open signature bounty ??
i think that is very good project .

Part of our mission is to make bitcoin and other crypto assets more accessible. We are a spinoff of LakeBTC. We inherit their core team, expertise, tech, culture and so on. We are blockchain enthusiasts!

But we also want to change banking and bring free banking to the world, especially to currently under banked populations. A migrant worker wanting to send home a small remittance doesn't care about on-chain transactions. They just want to move money around easily and without heavy fees. (Bank of America international wire is $40!)

Bitcoin was designed in part to allow money to flow freely between individuals without going through a centralised institution. But it many respects it has not achieved that goal: complexity is high, security is a concern for people, price volatility is an issue and transaction fees are rising. Right now it's an important supplement to the existing financial world but it still has a long way to go.

With us, if you want on-chain transactions that's great, we'll make it easy and secure. People who care less about decentralisation can take advantage of our free services. Everybody wins (unless you're a bank).

Good point. But see my reply to the poster above you and let me know if it doesn't address your concerns.

Our free payment network is not decentralised. So it won't be hard to keep the system running. The cost to us of handling a payment is very close to zero once the infrastructure is there.

For those that want their transactions on-chain, we will provide services there too---backed up by the expertise in security that LakeBTC is known for.

it's a so exciting thing, and can't wait to know the whole of lakebanker, except to the coming white paper

Lakebanker is not a block chaining technique?

Although I'm not sure about the concept of this project, but it will be an interesting project, hopefully it can run well and good luck for LakeBanker

No. We're a financial technology company, but we're also Blockchain enthusiasts (we are a spinoff from cryptocurrency exchange LakeBTC). Part of what we want to do is make cryptocurrencies and other digital assets much more accessible. But that really is just a small part of a massive project: to make core banking services free for the world.

Thanks. If you're not sure about the concept please ask some questions. Part of why we're here is to get useful feedback rom the community.

We want to change banks, not governments. We plan to stay fully compliant with local laws and regulations, wherever we operate.

Sure. We expect to invest significantly in legal advice as we plan to stay compliant and work with regulators wherever we operate.

For us, that's worth it---the financial industry needs to change. The are 5 Billion underbanked people in the world, and---for the rest of us---banking is expensive and time consuming. It doesn't have to be like that. And we're going to change it. 

We have 10 million user accounts. There was bound to be at least one lunatic...


Just kidding. The guys at LakeBTC are looking into your case and will be in touch shortly. Demand is very strong right now and everyone loves liquidity.

Thanks. Yeh the beta has been running for a while. We have many LakeBankers but the demand is incredibly strong. Right now, we're a little bit like Uber but without enough drivers. People send out requests for LakeBankers but there isn't enough supply. But we know the idea of Crowd-Banking works; its just a matter of expanding. Thats why we're doing the Token Sale.

With investment we can grow our network of LakeBankers exponentially. There will be many, many more of you in the future. But thanks for your service so far.

Please check you PM. And thanks for your interest in buying tokens early.

sorry, just found an another problem.

e.g.  i entrust a lakebanker to help me transfer money, but if the lakebanker just take my money away and run to a place where no one knows. what should i do in this case? are there any appropriate debt collection and compensation measures?

Good question.

We are are a spinoff from LakeBTC.com. We've been around for years and have an almost unrivalled reputation for reliability and security. We know how to handle people's money.

As to the specific questions about individual Lakebankers running away with customers money. Cash deposits/withdrawals are more likely to be handled by local businesses (convenience store, money exchangers etc.) than individuals. They're already set up to handle cash securely. For electronic payment options, the system will protect users money. Further, we perform checks on individual LakeBankers (id, documentation, checks, biometrics (eventually)) and our AI continuously monitors performance, user reviews etc. Risk will be extremely well managed in our system.

i think it's more exciting than the project itself  ::)

Yes, the signature bounty will be launched today or tomorrow. Stay tuned.

We are pleased to announce that LakeBTC.com now accepts ETH (Ethereum) deposits for the purpose of the LakeBanker Token Sale.

To make an ETH deposit, log into your LakeBTC.com account, click "Wallet" in the menu, then "ETH" button to create ETH subaccounts. Click "Deposit" tab, then "ETH" tab to view your personal ETH deposit address.

Please ONLY transfer ETH to this address. Do not send tokens. The minimum amount for the deposit is 0.01 ETH, and 30 confirmations are needed.

ETH is not tradable and cannot be withdrawn from LakeBTC at this time. These features are expected to be available to public before October 2017.

Further Information about the Token Sale can be found on: https://lakebanker.com/.

Should you have any questions, please contact customer support at help@lakebtc.com

Our bounty campaign is now open at LakeBanker.com (http://LakeBanker.com)

To gauge this project accurately I want to look at lakebtc.com's volume, trends, etc. but there's virtually no way to do this because all info on lakebtc since 2016 seems to have disappeared into a black hole in the English speaking world. The coinmarketcap/other tracking site API is broken, virtually all forum activity and site reviews date back to 2014 and so on. Additionally, I'm not filled with confidence about a token sale for a spinoff that wants to trade 30 currencies when the original platform still won't even support ETH itself before phase 2.

Will we see LakeBTC itself make improvements to match this ICO (and ideally ahead of it)? Is there a roadmap on that side?

Due to the fork risk of the Bitcoin network on or after August 1st, LakeBTC may have to suspend deposits and withdrawals of BTC to ensure the security of our users' funds. Given this, we have chosen to postpone Phase 1. of our Token Sale to a time when BTC transfers will certainly be available.

It will now be held September 15, 2017, 3pm UTC - September 20, 2017, 3pm UTC.

Bounty Campaign is live at:

https://bitcointalk.org/index.php?topic=2056136 (https://bitcointalk.org/index.php?topic=2056136)

Complete this form (https://docs.google.com/forms/d/e/1FAIpQLSfCR2gInVjSzPKGwLP2AjUrNgjAh6EK4lqzZKDJ0QvehES2Vw/viewform) and change your bitcointalk.org signature (txt files below):

• Full Member (full.txt (https://lakebanker.com/full.txt))                     4 BAC per post, 10 posts max per day, and 50 posts max per week.
• Senior Member (senior.txt (https://lakebanker.com/senior.txt))             6 BAC per post, 10 posts max per day, and 50 posts
• Hero Member (hero.txt (https://lakebanker.com/hero.txt))                 8 BAC per post, 20 posts max per day, and 100 posts
• Hero Member (legendary.txt (https://lakebanker.com/legendary.txt))         15 BAC per post, 20 posts max per day, and 100 posts

Rules:

• Extra 1 BAC per valid post is awarded if you use LakeBanker logo (https://lakebanker.com/lakebanker_logo_128.png) as your avatar.
• Full member or above only.
• No negative feedback on bitcointalk.org.
• At least 1 post per day, and min 20 posts per week.
• Tokens will be paid along with everybody else when Token Sale ends.
• Only constructive posts over 100 characters are valid. Poor quality and unconstructive posts are not accepted.
• Invalid discussion boards: Beginners and help, Press, Games, Micro earnings, Politics and Society, Off-topic, Archival, Auctions.

Complete this form (https://docs.google.com/forms/d/e/1FAIpQLSczbw8PK5_6VSlUXUavK0NdlGQTbvQbDc97P3zMtt0Vas9pkg/viewform), and post articles/reviews/advertisements about LakeBanker at:

• Youtube, TechCrunch, Medium etc.            50 - 1000 BAC
• Personal Blog or Website                          50 - 500 BAC
• Cryptocurrency/blockchain sites                50 - 1000 BAC

Rules:

• Tokens will be paid along with everybody else when Token Sale ends.
  
• Articles/posts deleted before the end of Token Sale are invalid.
  
• One article/post per site per person is valid.

We have not spoken at any summits or conferences recently as we have been having exceptional demand for our services. We also want to concentrate on our next big project: LakeBanker, which was developed and tested in stealth mode 1.5 years ago. Today we have more than 2,000 LakaBankers from all over the world with growing demand.  Linus Torvalds says: "Talk of tech innovation is BS. Shut up and get the work done".

Technically it can be a challenge to add any currencies. Our system currently supports 40+ Fiat currencies and 52 payment methods with hundreds more to come.

We choose alt coins and tokens carefully based on many aspects which include tech maturity and business credibility.  Depositing in ETH has recently been enabled on our site for the purpose of this token sale and we anticipate ETH trading to become available in October 2017. With ETH, there have been bad hacking incidents not long ago and it is not listed in some of the major exchanges neither.

And yes, we have published a roadmap of the project on our website: https://lakebanker.com/

Thanks. Our Signature Bounty Campaign is now live. Please check: https://bitcointalk.org/index.php?topic=2056136

great to hear that, would like to take a look.
and what the fixed price of BAC??

The price of BAC is stated in terms of ETH. The price in terms of BTC will be determined by the exchange rate at the time. For phase 1, 1 ETH = 1300 BAC (in the first hour of the sale) and 1 ETH = 1100 BAC (after one hour). Phase 2 will be an auction: the market will determine the final price of our tokens, with the baseline price to be 1 ETH = 900 BAC. We reserve the right to change the price of the tokens prior to the sale if ETH price changes dramatically.

I checked the company for the record,
it had been register in 03/11,2014
the company should be no problem
and I want know that if I had the LakeBanker token ,I can trade my CNY to JPY free?
Is it the advantage to use the token in this website?

recently I reliaze more about Lakebanker, does if the token was not sold successfully? would the team hold the rest token and continue to follow the  roanmap?

ok, received your message. and there is another question, what the role does the tokens play in the whole project? does it really have the necessary of exist, rather than a new altcoin?

which record do you checked? any link could you proved?
I was also looking for the details of the company (even now I can't speak out which company is behind of LakeBTC)

Hi can i know what does bac do?? I mean what is thr use of buying ur token in lakebanking?? Sorry that my understanding not that good.

Interesting project but needs more information and answer given to everyone.
I'll keep a eye on this thread to see how this project progresses.

I think we need to see the more detailed roadmap, at least specify 2017 Q3 and Q4

what kind of financial innovation and new technology will you use? and lthe question like Pkuwag,

so is the team reliable? i have not heard even one name of the team, except the CEO Thomas.

this project from lakebtc.com exchanger ?

Our token (BAC) will be well-intergrated in our business model and has significant, long-term utility in driving transactions in our system. BAC in the LakeBanker system is comparable to XRP in Ripple (see https://ripple.com/xrp/) and ETH in Ethereum (https://www.ethereum.org/ether). BAC is the fuel of the system. All fees and interest in the system will be denominated in BAC. BAC will be based on the Ethereum blockchain and is ERC20-compliant.

Every single cryptocurrency has its own limitations---these include price volatility, unpredictability and technical shortcomings. By having our own token, we manage the token supply and are less vulnerable to issues outside our control.

When the LakeBanker system is mature, BAC will circulate amongst millions and eventually billions of users. The demand will be very strong. The price of BAC is in the future is likely to reflect this.

Yes, the LakeBanker project is a spin-off from lakebtc.com. It inherits LakeBTC's core team, expertise, technology and culture.  

The LakeBanker Crowd Banking model is not a concept. It is tested and proven. The demand has far exceeded our current supply. With no public announcement or media report, we have more than 2,000 LakeBankers serving many, many users around the world.

It is criminal that global remittance payments cost an average of 7.2% of the amount sent (World Bank 2016 data). That’s about $43 billion in charges just for moving information. We instead will make most transfers and payments for free.

So yes, the team is fully committed to the project and its roadmap. It is a big project. We will change banking forever.

The issued token (BAC) will drive transactions in the LakeBanker system. All fees and interest will be denominated by BAC. Our token will be well-integrated in our business model and has significant, long-term utility in our system. When the LakeBanker system is mature, BAC will circulate amongst millions and eventually billions of users. The demand will be very strong.

what should we do at present? any pre-sales before Sep.15 ?

show me the technology and finance. I will happy to see the solution on white paper.

did you check their website? the Phase 1 has been the pre-sales, it should have launched on Aug 15.

if you checked, then I think you means the pre-pre-sales.

ok, saw it "Due to the fork risk of the Bitcoin network on or after August 1st"

but Phase 2 is coming after Phase 1, there are just one month, it is not too much meaning for early birds.

Phase 1. is the pre-sale. But you can participate now----contributions received before Sep. 15 get the first hour price.

The first hour price in phase is 1 ETH buys 1300 BAC.

In Phase 2. the market will set the price via our Dutch Auction. But it is very likely that the price will end up being higher in Phase 2.

So Phase 1. is an opportunity for early supporters get a discount. In return we're hoping for support and collaboration from people who believe in our project.

if the token can't be traded, should it have used in others?

okay, just in case, if someone took money and get away, how do you deal with this accident?

BAC token will be tradable on LakeBTC 3 days after the close of Phase 2. of the tokensale.

how LakeBankers to survive if most transfer are free? who would pay the LakeBanker fee?
the role of LakeBanker is impossible to be a part-job, it need much time to deals.

so, before Sept 15, we can do nothing but wait.


and when would the white paper to publish?

If you're interested in our project there's lots to do before Sept 15. Join the bounty campaign? Ask questions about the project here etc.

The white paper will be published by the beginning of next week.

Yes, Thomas Xie is known. He is a cryptocurrency veteran, serial entrepreneur and co-founder of LakeBTC.com. The rest of the team are inherited from LakeBTC, along with its technology, expertise and culture.

show me the specify dete. or you can promise that the trading will be enable before November?

Yes, before November 1st, 2017.

Internal payments will be free (user to user, user to merchant etc.), even international payments.

Deposits and withdrawals is where our crowd-banking model comes in. You pay the LakeBanker and they credit your account on the system. The LakeBanker earns a fee (in our token BAC) for this service. LakeBanker fees can be incentivized initially by our user growth fund and eventually by our returns from value-added financial services (credit lines, p2p lending, and so on). LakeBankers can also earn fees from these value-added financial services, for example, checking and approving loans, doing biometric checks on loan applicants and monitoring loan owners. Certain quotas and conditions may apply.

This is next marketplace?

Customers' money is safe with us. LakeBanker is not a concept. It has been tested in the real world for 1.5 years and we have had an impeccable record.

Our team includes banking veterans who are experienced in anti-fraud and risk management. 100% of the LakeBankers' money will be locked for the entire period of the transaction for safeguarding before the transaction is complete.

All LakeBankers are KYC'd and have good a track record. Bad players will be penalized by the system.

so exciting!
it may be one of the few tokens/coins which booked the trading before launched.

wow, great!
will consider to praticiptate in the phase 1 sale.

 can't understand well, maybe I should take it a trial
but I never wish meet a frauder although my money is 100% safe.

such as... registered with FinCEN in US?

I had tried to deposit with LakeBanker, they don't take my money away, but just a little delay compare to transfer to the exchange directly.

So what is the total supply for the signature bounty campaign, and I can not see much information about the tokensale, such the total supply, the price and even how to buy the tokens. stay tuned to wait?

Please find further information on our bounty campaign on: https://lakebanker.com/blogs/2-lakebanker-bounty_programs

I think what he means that where the bounty tokens from? because your site has no distributionart for bounty, did it from User Growth
Fund? or Team keep?

interesting concept! could I join the feast from Japan?

I think they have banned users from US, did you see there is no percent in US on the map of Existing User Distribution??

I think you did not get my meaning, I have two questions: 1) What is the total supply for the bounty, since the bonus token is counted by the posts, which means the total supply is not a fixed number. 2) I want to know the total supply, the price of your altcoin and how to buy your altcoins.

Our white paper will be published today. Stay tuned.

That is great, I will stay tuned to wait for the incoming whitepaper and try to get the answer of my questions about the details of the ICO token sale.

The LakeBanker Token Sale White Paper is ready for download:  https://lakebanker.com/whitepaper.pdf

take it, and reading it now.

thanks for the reply, and just checked the white paper, I am confused about "There is a 5-year vesting schedule for the team tokens, where
only 20% is available for trading each year."  and however it was said "BAC will be tradable on LakeBTC.comsoon after Phase 2. of the Token Sale and before November 1st 2017."


did it mean if I buy 100 tokens then I can only trade 20 tokens per year, and it need 5 years to get my investment back??

Hi! What is the minimum investment for Phase 1?

i sure you can find the answer on bounty thread~

No minimum. No maximum.

The five year vesting schedule is only for TEAM tokens. It is to ensure that financial rewards for the team are connected with the long term success of the project.

Participants who purchase tokens will be able to trade ALL of their tokens on LakeBTC soon after the close of the Token Sale and before November 1st 2017. We are offering near immediate liquidity for BAC.

Apologies that this reply is so late----Tokens from the bounty campaign come from the 25% that we allocate to the team. Those who join the campaign are helping us to drive this project forwards.

There is no total supply for the bounty.

this must be a jabber, could I can buy 0.00001 BTC-valued tokens?

In my mind, most exchanges only support 4 decimal places, and LakeBTC is not an exception.

Yes.

Yes, 4 decimal places at LakeBTC for both BTC and ETH. So the minimum is 0.0001 BTC or ETH.

i am join this bounty.FB & Twitter

That's great. We really want the community to help us drive this project forwards. Join our slack and telegram. Get involved.

Here's an article comparing LakeBanker to Everex in Bitsonline.com (http://Bitsonline.com):

https://bitsonline.com/p2p-banking-lower-costs-underserved/ (https://bitsonline.com/p2p-banking-lower-costs-underserved/)

What do you guys think about the comparison?

Saw it.
and how much tokens did articles like this deserves bouns? the bounty program just roughly said 50-1000.

have been read the thite paper, can not tell what it feels like temporarily, but just think it is unrestrained and formalized. or may be I need to understand it more.

it seems no bounty plan for social media.

Can’t wait to see it!!! Keep us posted!

The LakeBanker Token Sale White Paper is ready for download:
https://lakebanker.com/whitepaper.pdf

sorry, can't find it. there mat be a missing on the thread

hi, I just signed up for your signature campaign, but without any feedback, could I start it? From which one of my reply to start billing?

There's no total supply for the bounty campaign.

Yes you can start immediately.

even the restrict of hr.member could't stop signature pollution on this forum, if open the limit, can not imagine what bitcopintalk will look like.

I wish people join the campaign not just for earn some scant btc, instead of they are really understand and agree with the ico.

I think you can acquired everx when your token sale is complete, I saw their business is included in your blueprint

wow, just received the notification, it sonds interesting, and I'm reading the whitepaper now. I will get it a review when I worked it out  :D

Good luck with lakebanker

Great. We welcome feedback from the community on our white paper.

In Phase one we are offering a small number of tokens at a significant discount. We're hoping that early participants will take advantage of that and help us drive this project forwards.

Thanks. Get involved with us. Join the bounty. Join our telegram/slack!

Cointelegraph: ICO Wars Continue As LakeBanker Says Civic Was “North Korean”: https://cointelegraph.com/news/ico-wars-continue-as-lakebanker-says-civic-was-north-korean

here is my reviews https://bitcoinexchangeguide.com/lakebanker/

enjoy it  ;)

My bank account was cancelled since two scam users filed a refund request to my bank, although LakeBTC help me hold my money, my bank account is lost anyways.

So this is a review of two aspects, you can't just ask Lake Banker to prove themself guileless and reliable, but also need to review the users. It is appreciated that filter out the fraudsters

Thanks for your review.

Our CSO wrote a reply to the balanced comparison of Everex and LakeBanker. Check it out on medium:

https://medium.com/@andrew.mccarthy/everex-vs-lakebanker-what-to-look-for-in-a-fintech-startup-b90d3089b603 (https://medium.com/@andrew.mccarthy/everex-vs-lakebanker-what-to-look-for-in-a-fintech-startup-b90d3089b603)

there are many different banks in the world, shoud the biggest one to acquired otheres?

We're looking for Chinese, Japanese and Spanish translations of our white paper.

If interest, please PM us with some credentials and a quotation in our token.

Thanks.

Do you need a translation of Hindi which is the official language in India? and India is the second largest market after china.

Of the people I've spoken to, their main concern is that LakeBTC (and LakeBanker) are based in the PRC. I think they're worried (whether it's valid or not) that the Chinese government may one day crack down on token sales, or introduce a new regulation that makes the platform non-usable. Similar to how China has slowed down the growth of Bitcoin exchanges by limiting bank transfers in and out.

What would you say to reassure them? Alternatively, are there any actual advantages to being based in China over other countries?

1. We are an international firm. We plan to open offices in Hong Kong, London and many other locations.
2. The Chinese government is one of the most crypto open and friendly governments in the world. Please see our notice about this here: https://www.lakebtc.com/s/help#ban
3. The Chinese government, like many other governments, cares about Anti Money Laundering (AML) and investor protection. That is why LakeBTC enforces strict KYC, and we have never turned on margin/short, or futures trading.
4. The "limiting bank transfers" incident was exactly Chinese government's response to the high leverage and market manipulations of some other players in the field. Do you remember the 0 fee and 50x leverage tactics by other exchanges? I would say that the Chinese government has been very lenient with those who turn crytpo exchanges into a manipulated casino.
5. We have People's Bank of China (PBOC) regulated banks and payment processors as potential partners. We know they have invested lots of effort researching cryptos. In general the government encourages innovation, with risks well managed. LakeBTC is keen on risk management; this includes managing compliance risk.

Tokenverse published an article about us. Check it out here:

http://www.tokenverse.com/news/lakebanker-bringing-financial-services-to-all-through-crowd-banking/ (http://www.tokenverse.com/news/lakebanker-bringing-financial-services-to-all-through-crowd-banking/)

Thanks!

Just to reiterate. Tokens for Phase one are on sale now. Just 2% of the total tokens are being sold at the heavily discounted rate. We're doing this to encourage participation and feedback from the community.

I'm afraid we're not looking for that translation right now. I will let you know if things change.

Thanks for your interest in the project.

Please contact us at tokensale@lakebanker.com if you have any interest in writing about us.

LakeBanker's interview with Bitcoin Chaser:

Bitcoin Chaser: "What kind of problem, market deficiency or opportunity inspired you to launch your project, and how will your project address this?"

LakeBanker: "There are two major problems we are trying to address: 1) The traditional banking sector needs to change. 2) Access to crypto currencies and other digital assets."

To read more: http://bitcoinchaser.com/ico-hub/lake-banker

Phase 1. of our Token Sale is open now.

Contributions received before September 15, 2017, 3pm UTC get the first hour price of 1ETH = 1300 BAC.

After that, the auction format kicks in. Please see LakeBanker.com (http://LakeBanker.com).

Please post any questions you have about our project or the white paper here (or join our telegram/slack and ask there). We will be happy to answer any questions.

Still looking for quotes for a Japanese translation. Please message us if you are interested (or if you know anyone that might be). Thanks.

And still looking for more quotes for a Chinese translation of the White Paper. Please message us if you are interested. Thanks.

Banking through blockchain is not understandable to me. People who know about blockchain are minuscule, how they will know banking on blockchain

Most of our transactions will be off chain. Users will access our banking services through an EASY TO USE mobile app. They do not need to have any knowledge about Blockchain to do this. We talk a little bit about out relationship with Blockchain/cryptos in section 6 of our White Paper. But basically the idea is this:

We offer certain core banking services for free---in particular, payments are free in the LakeBanker system (we can do this because of the massively reduced overheads and better risk management that our Crowd-Banking model gives us). We expect this to attract millions of users. Since we are blockchain enthusiasts, we will OFFER cryptos to all these users. But we don't FORCE cryptos/blockchain on anyone. For those that want to try investing in cryptos, we will make it easy by hiding all the complexity. We also inherit the excellence in security in handling crypto assets that LakeBTC has been developing since 2013.

Hope this helps address your concern. If not, let me know and I'll try again.

TOKEN SALE: PHASE 1. UPDATE.

Phase 1. is open now. Contributions made before September 15, 2017, 3pm UTC will get the 1st hour price.

Demand appears to be strong, so we have decided that if we are over sold before that time BAC tokens will be allocated to ALL PARTICIPANTS on a pro rata basis. We do this in the interests of fairness.

After September 15, 2017, 3pm UTC the auction format kicks in and tokens will be distributed on a first come first served basis.

For full details please see https://lakebanker.com/#token_sale (https://lakebanker.com/#token_sale)

What proportion of tokens should be allocated to the team in a good ICO? Our CSO wrote a short article about this comparing some recent high-profile projects. Check it out on medium:

https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579

Comments welcome...

I read your white paper but I don't understand how LakeBanker does better credit risk management...

 it was not long before, every bitcoin startups all said that they have a risk management system which level same as the bank, but you see, how vulnerable is the system which they proud of in the presence of professional hackers

Your first question is about credit risk. In a typical bank just one or two checks are done before issuing loans to customers (for example, checks on income, expenditure, purpose of borrowing etc.)

LakeBanker's "Crowd-Banking" model is different: When one user requests credit from the system, other users with appropriate training can be hailed by the app and given the option to earn fees by providing the relevant KYC verifications and due diligence information. The low overheads here mean that LakeBanker can do much more due diligence than any regular bank, including continuous checking throughout the loan. They also do it better: LakeBankers will tend to be local and know their communities well.

Your second question is about security risks. LakeBanker is a spinoff of LakeBTC.com. They are perhaps the only cryptocurrency platform without stolen coins, security scandals or flash crashes. LakeBanker inherits this expertise in security. We know how to handle people's money.

I like your business idea but I don't understand how your BAC token works. What makes BAC a good investment for me?

That doesn't show auction format it just shows that u gave almost a 20% bonus for getting in the first hour.
To me personally that's a huge nono and while I was thinking about investing now I'm going to pass.

I think there's a misunderstanding here. Here's how Phase 1 works.

The first hour price of 1 ETH=1300 BAC is available now. Participants don't have to rush to buy their tokens in the first hour of the auction---they can get that price any time over the next 29 days.

If we oversell during that time we will allocate tokens pro rata---we chose this so that everyone that wants to get BAC tokens at the lowest price will be able to. This is the fairest option.

After September 15, 2017, 3pm UTC tokens will be allocated first come first served based on the prices listed on the website.

BAC tokens function as a de facto currency in the LakeBanker system. All fees and interest are denominated in BAC. The token is well-integrated into our Crowd-Banking business model. Here is an example:

Payments in the system will be free for most users most of the time. However, say the monthly quota for payments is $100,000 and you want to transfer $150,000 today. The fee determined by the market may be 300 BAC. The user would need to buy that 300 BAC from the market. If they do not want to purchase BAC, they can become a LakeBanker and serve others to earn it instead. So BAC can both be spent and earned within the LakeBanker system. In this way we have true Crowd-Banking.

We expect our free banking options (especially user-to-user and user-to-merchant payments) to attract many many users. BAC will eventually circulate amongst millions of people. Correspondingly, the demand for BAC will be very strong. We expect its long term price to reflect this.

An article on decentralisation published in Forbes today talks about LakeBanker:

https://www.forbes.com/sites/nikolaikuznetsov/2017/08/16/decentralizing-the-world-blockchain-and-the-removal-of-centralized-profit-centers/#56db418d53f4

it meems that I had seen the similar project before. did you know Humaniq?
if so, what do you think the difference between LakeBanker and Humaniq?

The differences between LakeBanker and Humaniq are actually very large. Here are some key ones:

Target Users
Humaniq targets users in developing countries, mostly very poor people. They seem to operate more like a charity and its not clear that they are sustainable as a business. LakeBanker targets the whole world---including rich countries. Expansion into unbanked populations is just one small part of our ambitious business model.

Free Payments
In the LakeBanker system for ordinary users ALL PAYMENTS WILL BE FREE FOREVER. Humaniq say they will offer "near zero cost transactions", but it's not clear what this means.

On Chain/Off Chain
In Humaniq, all transactions seem to be on chain. This is for a service that they hope to reach billions of people. Is this even possible? Does the blockchain has the capacity or the throughput? If the price of ETH goes up further, will that make payments unaffordable?

In LakeBanker, we give users a choice: If you are tech savvy and comfortable with the technology, use onchain. For others (especially un/under banked), use simple, safe and free off chain services. We have impeccable record in the past 4.5 years of safeguarding users money.

Development Stage
LakeBanker has been running successfully in Beta for 1.5 years. Humaniq is just a idea.

Resources
LakeBanker is a spinoff of LakeBTC, a leading crypto platform with mature operational experiences and user base. We have substantial relationships with banking, payment processing and credit & rating agencies. Humaniq is just an idea.

Risk Management
Humaniq plans to offer "Direct Lending to Entrepreneurs". If they're lending directly, who is going to do the credit risk management? What will stop their default rates being sky high? How will they meet other risks, like compliance risks (anti money laundering, for example).

LakeBanker's Crowd-Banking model delivers exceptional risk management. When one user requests credit from the system, other LakeBankers with appropriate training can be hailed by the app and given the option to earn fees by providing the KYC verifications and due diligence checks. The low overheads here mean that LakeBanker can do much more due diligence than any regular bank (or Humaniq). They also do it better: LakeBankers will tend to be local and know their communities well. With our risks so well managed, our risk adjusted returns will be very high.


So. The LakeBanker's business model is very different from Humaniq's. (Our is much better).

The Social Media Bounty is now launched. Here's the thread.

https://bitcointalk.org/index.php?topic=2056136.0

We have now launched the social media bounty. Here's the thread:

https://bitcointalk.org/index.php?topic=2056136.0

This is an interesting concept, I'll be interested to see the details in a whitepaper.

Our Whitepaper is available for download here (https://lakebanker.com/whitepaper.pdf) and on the first page of this post.

We hope you enjoy reading it. If you have any questions, please post them here, or join our telegram or slack channels. We will be happy to answer them

LakeBTC.com will enable BAC trading soon after the close of Phase 2 and before November 1st 2017.

We are offering near immediate liquidity for our Token.

The LakeBanker system plans to provide free core banking services to the whole world. How do we achieve this? We do it through our "Crowd-Banking" business model. Here are some details:

The LakeBanker system will coordinate a massive network of individuals, merchants and other institutions who will provide banking services to users. The nodes in our network are called "LakeBankers". A LakeBanker provides services that would ordinarily be undertaken by the high street branch of a traditional bank; for example, they can facilitate deposits/withdrawals from the system and conduct KYC ("Know Your Customer") verifications on other users. Any user can become a LakeBanker; indeed the system encourages users to both consume and supply banking services. The network is accessed through a mobile app from which users can initiate requests for services. The app uses Artificial Intelligence to match these requests to LakeBankers dynamically based on real-time supply and demand conditions. Our technological solution effectively replaces traditional banking infrastructure with a peer-to-peer market, sometimes known as a "matching market". We call this concept "Crowd-Banking".

In terms of executing our mission, this model has four key implications:            

(1) Risk Management: Through our crowd of users we can do more due diligence than any regular bank could do. And, since LakeBankers will tend to be local and know their communities well, we can do it better.

(2) Massively Reduced Overheads: We don’t need high street branches, large corporate offices or many thousands of salaried employees.

(3) Exponential Growth: When we enter a country, one LakeBanker can service say ten users. The system incentivises them to become LakeBankers themselves and service a further hundred users who can then service a further thousand and so on. Our Crowd-Banking model has exponential growth built into it.

(4) Reach into Underbanked Populations: Networks of LakeBankers can be created wherever people have access to smartphones. Smartphone saturation is high in the developed world and growing at a phenomenal rate in emerging markets.

Our users will be trusting us with both their money and their personal data. We take that trust very seriously and hold ourselves to the highest standards when it comes to data security. LakeBanker is a spinoff from LakeBTC. LakeBTC is perhaps the only major cryptocurrency platform without stolen coins, security scandals or flash crashes. We will leverage our expertise in security as we develop the LakeBanker system. We will continue to employ the following technological security measures:

• We use SSL/TLS encryption for all data transfers to and from users.
• We use TRUE cold storage for cryptocurrencies—never, ever online. Some other platforms claimed to use cold storage but were nonetheless compromised.
• We use multi-signature wallets.
• We use 2-factor authentication with a 48 hour lock period after any change.
• We use SMS confirmations, encrypted back ups and a disaster recovery plan.
• Our internal network is not accessible from the Internet.

LakeBTC has been very active in bringing blockchain technology to the traditional financial world. During the past 5 years, we have built strong relationships with a number of banks, payment processors, insurance companies and security firms. In developing the LakeBanker system, our potential strategic partners include:

• A major credit card company
• A major PBOC licensed payment processing company
• One of the biggest mobile App design companies in the world (top 20 for iOS globally)
• One of the biggest Wealth Management firms in the world
• One of the largest financial conglomerate  companies in the world, whose business includes commercial banking, investment banking, insurance and financial leasing
• One of the leading credit and rating companies in China
• A major mobile phone manufacturer
• Two regional commercial banks

Most of the transactions in LakeBanker are off chain right?
  If so, it seems nothing to do with cryptocoins or blockchian?

Phase 1 of the token sale is Active now. It ends September 20, 2017, 3pm UTC. In Phase 1 we offer a small number of tokens at a very big discount.

Phase 2. will be held in mid-October.

For full details of the token sale please see our site (http://lakebanker.com).


The signature campaign and social media bounty campaign will be available up to the beginning of Phase 2.

Please see our Bounty thread for full details:

https://bitcointalk.org/index.php?topic=2056136.0 (https://bitcointalk.org/index.php?topic=2056136.0)

again, i saw in white paper that you allocate 25% of token to your team. that's a lot. why so much?
and where are the bounty tokens from? what percent?

thanks for your response.

could I know how to add a new coin on LakeBTC? costs, materials, requirements, etc.

LakeBTC receives many requests to add new tokens to our trading platform.

We are looking in to this carefully and we will publish something about our requirements soon.

Trading for our token BAC will be enabled soon after the close of our Token Sale and before November 1st 2017.

Our CSO wrote an in depth post about this question and compared our token distribution model to other recent ICOs. Check it out here:

https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579

Tokenverse (http://tokenverse.com) publish an in-depth article comparing our project to Humaniq. Check it our here:

http://www.tokenverse.com/blog/humaniq-and-lakebanker-a-comparitive-analysis/ (http://www.tokenverse.com/blog/humaniq-and-lakebanker-a-comparitive-analysis/)

The Tokenverse article is very detailed and gives a balanced account of the two projects. However, we feel it misses some major advantages of our business model and our resources when compared with Humaniq. Some of those are listed in a post on the previous page.

everex may be in the middle of a successful ICO. They have a similar P2P style banking model.

I read this article and can't find the something difference from yours, so why do you think should anyone buy BAC if you're not doing anything different from Everex?

4 people from your team/advisory board went to Oxford University---did you all know each other before starting LakeBanker?

don't think everex is a successful project, if your opponent was everex, you may fail too. they only completed 70% when there is the remaining 10 days

ok, I read it again,  but can't understand how actually LakeBanker works, so do you have more information about the Beta version of the LakeBanker system?

A couple of our team/board members met at Oxford; others are just a coincidence.

coincidence? ok.
was Oxford the birthplace of LakeBanker?

sounds interesting, we need more infomations

you can just understand the current LakeBanker like this:

LakeBanker deposit a large amount fund in system, so that any user would like to make depisit/withdraw with a relatively smaller amount, LakeBanker will deal with this user and earn the fee.

it is the current version, I have put forward a lot of proposals on LakeBanker, such as get a interest on untapped funds which jusy like bank.

Hopefully these will be implemented in the new LakeBanker system.

no info about price of this token, can you explain it?? how the price in pre-ICO, ICO and the exchange rate.

I think you can find it their site and whitepaper https://lakebanker.com/whitepaper.pdf

We wrote a piece describing some significant differences between the LakeBanker business model and Everex. We feel that ours is far superior. Check it out on medium

https://medium.com/@andrew.mccarthy/everex-vs-lakebanker-what-to-look-for-in-a-fintech-startup-b90d3089b603

Full details of the tokensale are on our website: www.lakebanker.com (http://www.lakebanker.com)

If you would like more information please read our whitepaper (http://lakebanker.com/whitepaper.pdf).

Alternatively, please ask questions here, or join our slack or telegram. We will be glad to answer questions there too.

there is a more question, why do you set a difference sale between phase 1 and phase 2? it is easier to dump if put all eggs in one packet

We are issuing a small number of tokens in Phase 1 before the major sale in Phase 2. Phase 1 is a simple fixed price sale where tokens are sold at a discount. In return, we would like to use Phase 1 to:

• Gather feedback from the community.
• Collaborate with early participants.
• Improve documents, and other marketing materials.
• Generate more media coverage and community involvement.
• Acquire more consultation from professional services, including tax and legal counsels.

I used LakeBTC once, with withdraw by LakeBanker, it seems that spend a longer time than usual, how do you think it would be better when LakeBanker is spinoff from LakeBTC? and are there difference features between the current version which you called Beta-Version and the upcoming new version?

The LakeBanker system is currently in Beta. Full details are in our whitepaper. We currently have a network of around 2000 Lakebankers globally. Still it can take the system some time to find appropriate matches within the p2p network to facilitate withdrawals. When we expand the system after our tokensale, the number of LakeBankers will grow exponentially and users will get excellent liquidity. Again, more details of our plans for exponential growth are in our whitepaper.

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?

I also want to know how much they raised so far, it would be like to see the progress of the ico and I also want to know how fund lake team are investing themselves.

The cap for Phase 1 is so small we're not going to provide monitoring. For Phase one it's possible to participate NOW. We did this to avoid users missing out because of last minute technical problems or network congestion. It's possible we will sell out long before the official start time of 9/15 3pm UTC. If we're oversold we'll allocate tokens pro rata. So there's no reason to wait if you're interested in getting our token. Users that "wait and see" are likely to miss out for Phase 1.

As you know the current price is 1 ETH = 1300 BAC, while in Phase 2 our auction starts with 1 ETH = 100 BAC. If the Phase 2 auction closes at that price, Phase 1 participants make 13x profit.

For Phase 2, where we sell most of our tokens, we will provide monitoring of the progress of the auction. Phase two will be held in mid-October.

On the first question, see the above answer: we're expecting Phase 1 to sell out quickly but if we oversell tokens will be allocated pro rata. LakeBTC has ten million user accounts. We have very many pro-traders investing with us. A lot of the demand for tokens in Phase one is coming from guys like that.

As to your second question, I'm not quite sure what you mean. 25% of the tokens are allocated to the team, but we subject ourselves to a long 5-year vesting schedule in which team members can only trade 20% of their tokens each year. This demonstrates our long term commitment to the project.

Our CSO wrote an article about team token allocation comparing us with some other successful ICOs. You can check it out here: https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579 (https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579)

Investment is coming in for Phase 1 of our token sale. Right now our investors are of a few different types:

1. Pro-traders who see the chance of making 1300% profit. Right now the Phase 1 price is 1 ETH = 1300 BAC. At the beginning of Phase 2 the price will be 1 ETH = 100 BAC. If Phase 2 sells out in the first hour, people who bought in Phase 1 will make 1300% profit.

2. Long term investors who recognise the strength of our business model and the potential of our token to circulate amongst millions of people in the long run. They see long term value in holding BAC tokens.

3. Idealists who recognise the banking sector needs to change. It leaves billions of The world's  people behind. These investors want to be part of changing the world for the better with us.

4. Participants in the beta of the LakeBanker system. These guys have been working with us to develop the system in beta for 1.5 years. They're already working as Lakebankers. With them we have improved the system and streamlined our processes. Now the system is ready for the world. These  guys want to be part of the coming expansion.

So there are lots of reasons people are investing with us. But the phase one cap is very small. Just 2% of our total token supply. Early participation is recommended to avoid missing out.

What is the conversion rate for BTC to ETH/BAC

The price of BAC is stated in term of ETH. Current price is 1 ETH = 1300 BAC. This is the best price anyone will ever get.

The BTC to ETH exchange rate will be determined by the weighted average market rate on 15th September 2017 3pm UTC. See https://coinmarketcap.com/currencies/ethereum/#BTC (https://coinmarketcap.com/currencies/ethereum/#BTC)

if you need ,reserved the Chinese translation

Portfolio/Experience/previous translations links :
Ann thread:
https://bitcointalk.org/index.php?topic=2090936.msg20887037#msg20887037
https://bitcointalk.org/index.php?topic=2075235.msg20733405#msg20733405
whitepaper:
https://drive.google.com/open?id=0ByApryHvYSpQUWVubkpDVWJTNEk
PM me if you need the Chinese translation..

Okay, I will just convert it myself. Thanks

Thanks for that. Chinese translation is now completed and is available here (https://lakebanker.com/whitepaper_zh_TW.pdf)

this is an interesting question, will keep focus on this.

well, I am just trying to understand how this whole system would work. Is this similar to PayPal or AdvCash? I mean how different is this from these providers in the market other than the fact that transfer within the system and to merchants are free.

Who is this LakeBanker? Is he/she the person to whom we send our currency to top up out Lake account?

can you answer this in a layman's term please?

Free banker,Not governments? Oh,more idealized project, good, have signed  up Bitcointalk Signature campaign and Avatar,good luck!

We answered this question a couple of posts up. Thanks.

(1) The fact that all transactions in the system are free (include user-to-user and user-to-merchant) is a really big difference. Paypal, Western Union, Bank Wires, VISA, Mastercard all charge heavy fees. Our whitepaper (http://lakebanker.com/whitepaper.pdf) has some data on this. Our interface with LakeBTC.com also means we can offer currency exchange, including cryptocurrencies, with excellent liquidity and the best rates. Can Paypal do that?

(2) We are more than just a payment network. Our Crowd-Banking model gives us exceptional risk-management. This means when our Free Banking options attract millions of users, we can offer them a rich ecosystem of financial services such as credit lines, p2p lending, insurance etc. Our risk-adjusted returns from these services will be very high.

Thanks. Not sure what your question about governments is? Could you restate the question?

The price of our token BAC in Phase 1 is 1 ETH = 1300 BAC. Only 2% of the total tokens are available at this price. Investment is already coming in long before the official start of Phase 1 on 9/15.

We recommend participating now to avoid missing out. If we oversell before the 9/15 3pm UTC we will allocate tokens pro rata so everyone can enjoy this low Phase 1 price. After that time, it will be first come first served.

On advantage of the LakeBanker system is that we can provide banking services with MUCH lower costs than traditional banks. Our Crowd-Banking model means that we have no high street branches, few employees, no large corporate offices and no ATM machines. Instead, we leverage the potential of existing personnel and infrastructure outside our core organisation. If a traditional bank wishes to expand its supply in a given location, they need to build a new branch, hire many employees and so on. In contrast, we expand supply just by having more users install our app. As a result, our marginal cost of supply falls exponentially and approaches zero:



A user in Hong Kong wishes to make a cash deposit into his regular bank account. This is done in branch. Real estate in Hong Kong is expensive—- over $2000 per square foot per annum in those prime areas where high street branches need to be. Assuming a modest sized 2000 square foot branch, the user deposits his money in a building which costs the bank $4 million dollars per year.

The same user, in the same part of Hong Kong wishes to deposit money into the LakeBanker system. He pushes a button on our app; Sage determines optimised matches and the app transmits the request to nearby LakeBankers. Within seconds the request is accepted. For the sake of the example, imagine the LakeBanker here is a nearby convenience store. The user walks to the store and hands over his money. The clerk presses a button on our app and the user’s account is credited with the appropriate amount. The cost to us of accepting the deposit is close to zero.

One advantage of our Crowd-Banking model is that it leverages network effects that encourage the LakeBanker system to grow exponentially. When we enter a country, a single LakeBanker can service roughly ten users. The system encourages users to themselves become LakeBankers and offer services to others. Thus, once inside the system, those ten users can service a further hundred, who can then service a further thousand and so on. As more LakeBankers join the network it becomes more valuable—there is more geographical coverage/saturation and faster matches with user requests through our app. A more valuable network attracts more users which in turn attracts more Lake- Bankers to meet that demand. The cycle continues and the network grows exponentially:

The LakeBanker system has been operating in Beta for 1.5 years.  Here is some more information about our trial period:

• The trail started about 1.5 years ago in stealth mode. No formal announcement and no media coverage. During this trial, we improved our workflow and streamlined the overall process.

• We currently have over 2000 LakeBankers. The demand is strong and has well exceeded our existing capacity. See map below for the global distribution of LakeBankers in our Beta (data may be incomplete)

• 40 FIAT currencies are supported and about 10 are most active.The demand for other currencies is as strong but LakeBankers in those areas need more support and training.

Overall, I like existing projects with existing work,,, most important of all existing people who do things before any nonsense ICO. The business model is average, do you have examples of work in the countries with no banks? You say 1 LakeBanker services 20, so you have 2,000 means you have 40,000 people serviced?

Today we launched our referral campaign as part of our overall bounty program.


Invite friends and get 5% of the BAC tokens they buy as your referral bonus


Full details on how to participate are available on our website (http://lakebanker.com/blogs/2-lakebanker-bounty_programs)

Wow!
Super interesting initiative.

Watched

Our CEO, Thomas Xie, was interviewed by Bitsonline.com where he talks about LakeBTC and the LakeBanker "Crowd-Banking" project.

Check it out here:

https://bitsonline.com/lakebanker-thomas-xie-interview/ (https://bitsonline.com/lakebanker-thomas-xie-interview/)

this is an ideal situation, in fact, it is easy to borken chain in the middle if the incentive is not enough

I guess no one is interested to answer questions from curious onlookers? Maybe they don't want investors who know too much? Careful with the referral fees. 5% is a lot to give away from tokens sales. It just keeps adding up to your dumping problem after Phase 1. Add the incentive later, not before.

We're more than happy to answer questions here. We're also on telegram and slack if you want to talk to us there.

The links to our telegram/slack channels are on the front page of this thread.

On your second point: we won't have a dumping problem. Only 2% of our tokens are offered in Phase 1. at this very low price. Sure some investors will be looking at the short term potential of a 1300% flip. But others are interested in are token for its long term potential to circulate amongst many millions of users. Since such a small number of tokens are being sold at the low price, those that sell them early won't have a big impact on the market.

A lot of ico gives away 5% referral - paragon, latoken etc 

Today we were written about in Interactive Investor. One of the UK's leading investment portals:

http://www.iii.co.uk/articles/439928/new-chinese-threat-global-banking-system (http://www.iii.co.uk/articles/439928/new-chinese-threat-global-banking-system)

Thank you for the response. I think it's extremely common for the first investors to dump as soon as tokens trade, since almost every token opens at exactly or close to the normal price. Bonuses from early bird or referrals mean instant profit. It hurst the majority who can only enter later on. In any case, yes the small % is a form of protection. This does remain an interesting project. I am close to making my mind up. Thank you again.

Good point. It's a difficult question. Early Bird bonuses are a good way of gathering interest/feedback/participation from the community, which is really important in this hugely crowded market. But I agree, it does make it risky for the majority who buy at the higher price.

We really emphasize our long term business model and the long term strength of our token. We're not looking for short term flip (our team tokens are subject to a long vesting schedule).

We're happy to announce that we plan to accept Litecoin as a payment option for our Token Sale. Trading for Litecoin will then be enabled on LakeBTC.com (http://LakeBTC.com) shortly after the close of the Token Sale.

We may accept other cryptos for the Token Sale. Please nominate your favourite.

maybe dogecoin were accepted soon...

Hi, please explain what happens if until September 15, 3PM UTC more than 10 million BAC are bought. For example, if until September 15, 3PM UTC I buy 1.3 million BAC at the price of 1300 BAC/ETH and then on September 15, 3PM UTC it appears that in total 20 million BAC were bought, so then I will receive only 0.65 million BAC and you will pay back to me 500 ETH (1,300,000/1300/2=500)?

Yes, that's right. If we oversell prior to 9/15 3pm UTC tokens will be allocated pro rata and we will provide refunds. Your calculations in the example are correct.

We did it this way becuase the Phase 1 price is extremely low, but there is a very small cap of 2%. So we want to give everyone a chance to buy tokens at this price.

How many BAC are bought until this moment? In your opinion, approximately how many BAC will be bought on September 15, 2017, 3pm UTC?

The cap is so low low for Phase 1 we're not releasing live sale data. We'll do that for Phase 2 probably.

Demand is strong so far with still two weeks before the official start of Phase one. The price is so low that there's a chance to make a 1300% profit by investing early. People are buying becuase of that and other reasons. So we think there's a good chance that we'll sell the whole 2% before September 15, 2017, 3pm UTC.

people prefer to get bouns or profits directly,  rather than the pormised retuns

so, to say nothing of this, the project simply didn't promise anyone that they would get paid back

Yes, of course, we don't promise any specific returns. If investors believe there's a chance to make a 1300% flip by joining in Phase 1 that is a decision they have make based on their own research.

The team is intersted in the long term---that's the important thing (our tokens are subject to the longest vesting schedule of any ICO project we know of). And the number of tokens available at a big discount is too small to have a significant effect on the market once the token becomes tradable. We think this is a pretty good balance.

wow, it's a great thing! so many exhcange had support LTC, bout only few exchange including LakeBTC is not.  but now, LakeBTC do support Litecoin!

website down??

https://isitdownorjust.me/lakebtc-com/# (https://isitdownorjust.me/lakebtc-com/#)

edit:

https://isitdownorjust.me/lakebtc-com/# (https://isitdownorjust.me/lakebtc-com/#)

shows it is back up again, but I can't seem to get a connection from Germany

Yes, we're also considering accepting other altcoins for the token sale. Please let us know your favorite

thanks for the replay, but how is the LakeBanker system more secure than others, since each Banker is responsible for their own user?

even Banker is kind and innocent, did LakeBTC guarantee security against hackers for LakeBanker system?

That's thing I wonder too. don't be like btc-e. "oh we got f*** and will give back u 55% your balance"

The LakeBanker system is a spinoff go crypto-exchange LakeBTC.com (http://LakeBTC.com). We inherit their core team, expertise, technology and culture. LakeBTC has an exceptional record of security and reliability. WE may be the only major platform without stolen coins, security scandals or flash crashes. We know how to handles peoples money.

how long does it take from the myetherwallet to lakebtc wallet. I am waiting for 30 minutes
everything was spelled correctly . the lakebanker wallet displays 0
( www.lakebtc.com/deposits/new)  nothing to see
or is this a scam site ?

We'll look into this an get back to you.

Don't worry, LakeBTC is not a scam site: We've been around for years and we have a great reputation. We wouldn't ruin that reputation  by running a dodgy ICO.

OK. There's a delay in the synchronisation with the ethereum wallet client. It looks like we're about three hours behind. The system will catch up.

Your money is safe with us.

OK. I'll see it in an hour. Then write here

09/02/2017 19:46   ETH   XXXXXX ETH   Fee 0.0000 ETH    View
Ok. arrived . all correctly now

it has now all worked . Conclusion :
the site is well reached and clear .also for a beginner very well done. not complicated. 2fa fuse also available and / or sms
I am satisfied and can say look at the times .now I can say everything went perfectly so far

I have sent some BTC and made a payment to get some tokens.

Will there be a special wallet after launch, or do I have to download an Ethereum wallet?

The token will be ERC20 compliant: you can keep them at LakeBTC (with great security), or use your own wallet. Your choice.

Thanks for your positive feedback.

An article about our Crowd-Banking concept in Fintech News site, Techbullion:

http://www.techbullion.com/future-finance-crowd-banking/ (http://www.techbullion.com/future-finance-crowd-banking/)

An interview with our CEO in Uk-based fintech new site, Techbullion:

http://www.techbullion.com/interview-ceo-lakebanker-thomas-xie/ (http://www.techbullion.com/interview-ceo-lakebanker-thomas-xie/)

More articles about us:

http://www.tokenverse.com/news/lakebanker-bringing-financial-services-to-all-through-crowd-banking/ (http://www.tokenverse.com/news/lakebanker-bringing-financial-services-to-all-through-crowd-banking/)

In reference to the above post, we are now happy to announce that Litcoin (LTC) deposits have been enabled at lakeBTC.com (http://lakeBTC.com) for the purposes of the Lakebanker Token Sale. Trading of Litecoin (LTC) will be enabled there shortly after the close of the sale.

will this affect LakeBanker ICO?

https://cointelegraph.com/news/china-halts-60-icos-as-companies-cancel-sales-awaiting-legislation (https://cointelegraph.com/news/china-halts-60-icos-as-companies-cancel-sales-awaiting-legislation)

... I have been in crypto for too long to panic quickly, but this question seems relevant

This won't affect us.

LakeBanker is an international organization. We are not incorporated in China. LakeBTC's website is not available in (simplified) mandarin. The overwhelming majority of our customers are from outside China.

I really hope ico from this project can quickly be achieved from this project token can be in good market

Yes we have faith in the long-term utility of our token.

Our CSO is interviewed by bitcoinist about the China situation:

http://bitcoinist.com/ic0-china-initial-coin-offering-bubble/ (http://bitcoinist.com/ic0-china-initial-coin-offering-bubble/)

but the question is that, did chinese ban ICO? and had this token sale been affected?

it seems that the calm before the storm

Once Ethereum is transferred to my LB account,  how long does it take to post?  Been waiting a couple hours now.

EDIT:  Took my Eth deposit about 5 hours to be credited to my account.

Log in and verification seem too long for me to wait for it,
I closed the site and would go back to check there again

Is the ICO still running right,
I am a bit hesitate to join in as the ICO should also register in their trading platform.

Do you have any plan to trade the token within Bittrex and/or Polo?

The Chinese imposed a temporary ban on ICO.

But we are not a Chinese organisation, so our ICO will not be affected other than that we will not allow Chinese citizens to participate.

Yes. The ICO is still running. As we are not incorporated in China, nor have we marketed our ICO in China, the temporary ban does not affect us (other than that we will disallow Chinese citizens from participating).

Trading for BAC tokens will still be enabled on our trading platform shortly after the close of Phase 2 (and before Nov. 1st 2017).

We haven't approached Bittrex or Polo. BAC will be tradable on LakeBTC and we have the best reputation for security and reliability in the business. In the future, we may look to work with other exchanges if they meet our high standards.

We looked into this and LakeBTC.com (http://LakeBTC.com) appears to be working well. Are you still experiencing a problem?

Yes. Apologies we had a sync. delay with the Ethereum wallet client. The system should catch up soon.

Not sure what you mean by "calm before the storm". As we are not a Chinese based ICO, the temporary ban on ICO in China will not affect us.

However, we are keeping an eye on the situation and remain vigilant. In particular, we are not allowing Chinese Citizens to participate in our ICO.

China has imposed a temporary ban on ICO to deal with the problem of scammers. In the longer run, they seem to want to be a global leader in Blockchain technology.

Our Token Sale is not affected other than that we now do now allow Chinese citizens to participate. We never marketed this Token Sale in China so we don't don't expect any problems.

Ethereum and Litecoin trading have been enabled at LakeBTC.com (http://LakeBTC.com). We are still in the testing phase and will make a full public announcement soon once we're sure everything is working perfectly.

if litecoin is accepted, I guess dogecoin will be the next  ;)

so is this also some type of exchange? I thought it's something else when I scanned through the OP. Or is an exchange only part of the whole project?

I've just tried again : the login works easy and fast . 2FA put into operation went smoothly .
it is very clear and well arranged . not complicated and easy to use. I can recommend this platform and do not belong to the team.
I think this will be a good object

2fa authorization can not be considered that it is safe

better than nothing. there are also other security measures. no problem . can customize each individual
everyone can do as he wants . is also not different with bittrex and kraken  ;D
not even myetherwallet has 2fa  ;)

LakeBTC.com (http://LakeBTC.com) is a crypto exchange. We've been around since 2013 and we're currently top 20 in the world for Bitcoin trading volume.


LakeBanker is a Crowd-Banking platform that has been operating in Beta within LakeBTC for 1.5 years. The Beta was very successful. Now we plan to spinoff the LakeBanker platform as an independent company and launch a Token Sale to fund it's expansion.


In the future, LakeBanker and LakeBTC will still remain closely related; but they will be separate companies. As a spinoff, LakeBanker inherits the core team of LakeBTC along with its expertise in reliability and security, its technology and its culture.


Hope this helps you understand the relationship between LakeBTC and LakeBanker. If not, please ask more questions here or join us on Slack or Telegram (links on the front page)

Glad your experience was a good one

LakeBTC.com (http://LakeBTC.com) has an impeccable reputation for reliability and security. We are perhaps the only major crypto-trading platform without stolen coins, security scandals or flash crashes.

We have many security protocols that go way beyond 2fa auth. These will all be inherited by the LakeBanker "Crowd-Banking" platform.

For more specific information about our security protocols, please see section 3.3 of our formal whitepaper (https://lakebanker.com/whitepaper.pdf)

Correct. We employ, many, many security measures beyond 2fa authentication. (see our whitepaper for details).

This is why LakeBTC.com (http://LakeBTC.com) has a perfect record of never losing any customers' money. Ever.

We are happy to announce that LakeBTC.com (http://LakeBTC.com) plans to enable trading of ETC and XRP in the near future. More details to follow.

The cap is so low low for Phase 1 we're not releasing live sale data. We'll do that for Phase 2 probably.

Demand is strong so far. The price is so low that there's a chance to make a 1300% profit by investing early. People are buying becuase of that and other reasons. So we think there's a good chance that we'll sell the whole 2% before September 15, 2017, 3pm UTC.

Interview with our CSO published today in Bitsonline.com (http://Bitsonline.com): "We don't beg big banks to work with us; we replace them"


https://bitsonline.com/dont-beg-banks-replace/ (https://bitsonline.com/dont-beg-banks-replace/)

then we want to see what the next days so bring to investors . there are very large plans.
since I have also invested a little bit gladly these news of course . continue good work and much success

Thanks. Yes our Phase 1 discount has attracted investors. But it has a small cap (just 2% of the total token supply). If Phase 1 oversells before September 15, 2017, 3pm UTC we will allocate tokens pro rata to make sure everyone can get some BAC tokens at the lowest price.

Indeed. We retain 25% of the tokens (125,000,000 BAC) as a USER GROWTH FUND. That can be used to incentivize new LakeBankers and encourage exponential growth.

The heart of the crowd-banking model is that users can get backing services from the platform, but they can also earn fees by supplying banking services to others. So every additional user makes the system more valuable to others.

It's similar to something like Facebook: every time a new user connects, they make the social network more valuable to everyone by uploading content that others can see.

This is what encourages exponential growth.

LakeBTC.com (http://LakeBTC.com) is now listed on coinmarket cap. Our trading volumes are available to view:

https://coinmarketcap.com/exchanges/lakebtc/ (https://coinmarketcap.com/exchanges/lakebtc/)

ETH deposits have already been enabled and ETH trading is in testing mode. It will be enabled soon (along with LTC, ETC and XRP)

Reserve Filipino translation if needed.

LakeBTC is experiencing some synchronization delay with the Ethereum Wallet Client.

Currently, we are a few hours behind, but we are working to solve the problem.

For users that have made ETH deposits for the LakeBanker Token Sale, your money is safe with us.

For users thinking of participating in Phase 1 of the Token Sale, we recommend early participation to avoid last minute problems.

For users who have attempted to make deposits to LakeBTC.com for the LakeBanker Token Sale, please get in touch with us via Slack or Telegram if you want live feedback or customer support. (links on the front page of this thread)

Thanks.

Our white paper is a formal document. Please ask any questions here (or in our telegram or slack channels), and we can explain things in less formal terms. Thanks.

The exchange should increase the anonymous currency transactions such as zcoin

Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.Im watching a bright future for your bank.Soon you will reach the sky.

Thanks, we'll take this into consideration.

Thanks for your vote of confidence in our project. We plan to work with regulators---they are going to have to adapt to the rapidly changing pace of financial technology. We'll make their job easier, in part because of the exceptional risk management that our Crowd-Banking model provides.

Just over 4 days until the official start of Phase one of the LakeBanker Token Sale.

Those interested in participating should act now to avoid last-minute problems.

Pretty much the best ICO eveh, now we can do the KYC easily with lake monster and every body with every governments worldwide will recognize our rights of being our own decentralized banks. my problem is that no government is legitimizing the decentralized authority. it means when it comes to real world problem solving only the parties which the government is giving them authority could fix my problem, for example if I want to register a physical Visa card in order to register in google services or register on an exchange to deposit fiat, no body will accept me because the real authority (US government) is not allowing them to. if your services are going to listen to central authorities(governments) then there is no difference between you and the already established banking system.

We plan to stay compliant and work with regulators wherever we operate where possible. However, we feel that we are still radically different from traditional banks: In particular, their costs are higher and their risk management is inefficient. Further, our platform gives users the opportunity to earn fees by serving others, which can't be done with regular banks.

2 and a half days until the official beginning of Phase 1.

We have been accepting payment for around one month and there is a very small cap at this price.

Participate now to avoid last minute problems.

We are live online on our slack and telegram channels to answer any last-minute questions over the next few days before the official start of Phase 1. Please join us there.

Interesting. I totally missed that and didn't really know LakeBTC. Will give it a try.

If I understood we already can invest ? Or do we need to wait the 15th September ?

There are some other projects like yours already, why this one would be different/better ?

Thank you for your answer.

would this ico be going to start on the day after tomorrow?
how long to register an available account? If I am involved now, will I be able to catch the price ogf the first time ?

Recent events have created great uncertainty over the future of cryptocurrencies, token sales and other financial innovations. The market has become extremely volatile. In light of this, and in line with our emphasis on risk-management, we have decided to delay Phase 1 of the LakeBanker Token Sale. Phase 1 was originally scheduled to take place between September 15, 2017, 3pm UTC and September 20, 2017, 3pm UTC. It will now take place two weeks later, between September 29th, 2017, 3pm UTC and October 4th, 2017, 3pm UTC. Nonetheless, we are still accepting contributions now in advance of the official start for those who want to avoid potential last-minute problems. Should the market fluctuate dramatically we may need to revise the price of BAC tokens in terms of ETH prior to the onset of Phase 1. Please note that it's clearly stated on our website that we reserve the right to alter the price of BAC before the sale starts in response to dramatic market fluctuations.

At this stage, we would like to reassure LakeBTC customers along with current and potential participants in the LakeBanker Token Sale on a number of issues. First, LakeBTC.com and the LakeBanker system will only be minimally impacted by the news coming out of China: We have always been an international firm. Our company has never been incorporated in China. We ceased CNY operations almost a year ago and now the Chinese market comprises a tiny fraction of our business. LakeBTC.com supports 6 languages but Chinese is not one of them and hasn't been for several years. Our team, advisory board and corporate partners are spread throughout the world. Our Token Sale has never been marketed in China and we exclude Chinese citizens from participating. Second, those who have money on account with LakeBTC or who have deposited money with us for the LakeBanker Token Sale can rest assured that their money is safe. LakeBTC is a world leader in terms of reliability, security, and emphasis on risk-management. We have never lost customers' money. LakeBTC remains a point of strength in these difficult times for cryptocurrency enthusiasts.

You can participate now before the official sale to avoid last minute problems.


Please read our release above about the delay in the start of Phase 1. due to the current market instability.

You can invest now. Users that participate before the official start get the first-hour price of 1 ETH = 1300 BAC.

In light of the current market conditions, we have delayed the official start for two weeks. We may have to change the price of BAC in terms of ETH to keep it consistent with fiat.

Hi, what about intention to issue LakeBanker plastic card?

just read a news before, your CEO said "China Is a Great Place for Financial Innovation", was china still great right now?

China WAS a great place for financial innovation.

But things have changed. In the past many government officials were pro-cryptos and pro-innovation. Some foul-players took that progressive attitude for granted and abused the system (see above). Too many risks were accumulated. Now officials at the very top of the government have decided to step in and take over. The regulations are likely to be much more strict in the foreseeable future. In some ways, the situation resembles what happened after the 2008 financial crisis.

In the long term, without these foul players and fraud-like schemes, things may not necessarily be bad for the crypto community in China.

However, it's important to stress that LakeBTC/LakeBanker will be only be minimally impacted by the restrictions in China:

LakeBTC is not a Chinese corporation. It has been registered in BVI since 2014.

The vast majority of LakeBTC's business comes from over 160 countries other than China.

LakeBTC's team, advisory board and corporate partners come from all over the world.

LakeBTC ceased CNY operations almost a year ago.

LakeBTC supports six languages: Chinese is not one of them and hasn't been since 2014.

Most or all of LakeBTC hardware resources have been physically located outside of China since 2013.

LakeBTC's market data has never been listed on any Chinese bitcoin data website.

LakeBTC never sponsored or attended offline events or meetups in China.

Physical debit/credit cards and ATM machines are dated technology.

We expect to work with merchants whereby users can spend money directly from the app without the need for plastic cards/pin codes etc.

Users will also be able to request credit through the app, we can match those debts p2p with other users looking to earn interest on their savings. Our crowd-Banking model allows us to do exceptional risk management with low overheads compared with traditional banks and therefore offer credit at great rates.

LakeBanker is featured in ICO CROWD magazine this month. Pages 82-83.

https://issuu.com/icocrowd/docs/ico_crowd_magazine__issue_one__sept (https://issuu.com/icocrowd/docs/ico_crowd_magazine__issue_one__sept)

Bitsonline announces the delay of Phase one of the LakeBanker Token Sale.

https://bitsonline.com/lakebanker-delays-token-sale/ (https://bitsonline.com/lakebanker-delays-token-sale/)

Just 10 days left until the official start of Phase 1 of the Lakebanker Token Sale. Contributions are accepted now for people who want to avoid last minute problems. The phase 1 price is 1 ETH = 1300 BAC. This is the lowest price anyone will ever get and just 2% of the total token supply are available at this low price.

what this token want is too big. i don't believe in free banking

Hi,

I assume that for all international banking operations you will need to cooperate with the entire banking system worldwide within the SWIFT system, so how are you going to make all the traditional banks recognize your platform as legit? How about the bank to bank operations and their costs? Who will cover them and how?

Peter

How are you going to incentivize people to join your platform and to become LakeBankers?

Can you please list all services, which will incur a fee on your platform? How exactly is this platform going to be profitable if it's free?

I frequently have connection issues from Germany- while 'isitdown' says that LakeBTC is up and running.
Can anyone comment on this?
Been happening to others too?

No problem with connection. It may be something with your ISP. Try some VPN

Superiorly the more you know about your customers, the more you can provide to them information that is increasingly useful, relevant, and persuasive.

Is this in essence a blockchain based service with some centralized aspects? In the long run, this is what blockchain is meant to solve, right?

is phase 2 now started? today BAC arrived   ;) then let's see how the project evolves .
we will see it in the next weeks

How do I get a Lakebanker to process my cashout on the existing platform? I've tried GBP & USD but nothing ever happens.

Is there a magic trick to what amounts or what's the issue?

I was from all those who had the bad luck or the stupidity to invest in this!
According to their initial ico rules , phase 2 was supposed to start in the middle of october and run for 15 days
Moreover BAC tokens was supposed to start trading in lakebtc exchange before 1st of November

However out of nowhere they decided to postpone their phase for July 2018!!!

https://lakebanker.com/blogs/11-phase-2-update

Of course they are not mentioning anything regarding what will happen with the funds of the investors , so my guess is they will remain frozen at least until July 2018!

In their slack channel few people that are participants there , their ask for a refund but best team is giving is  that "maybe" they will allow for BAC/ETH trading for a week!

If all this doesn't sound like scam , i don't know what else does!!!

Now a few questions

1) It's obvious that lakebanker team didn't honour their own terms , why they don't at least give their investrors the choice of refund ?
2) Had the investors know from the start that their money will be stucked for almost a year would they invest in this ?
3) Who can quarantee that even postponed phase2 will not be postponed again and again ?
4) They say that "maybe" they will allow for BAC/ETH trading for a week in lakeBTC , well can you imagine a potential buyer after all this ? even if they eventually allow trading wouldn't be obvious that price will tank  ?   90% -100% losses  would be a logiacal conclusion imo
5) Even if they allowed BAC/ETH trading  , guess what? ETH withdrawal is not currently available !!!! Nice one , what do you say?
So investors funds are stucked no matter what!


My advice for potential investors BEWARE OF THESE SCAMMERS , KEEP AWAY FROM LAKEBTC
My proposal to lakebankers phase 1 ico let's exchange opinions and search what choices including legal actions we have to take back our funds

Dear , True I am with you , I invest 10 eth . now seem like lose my invest money...

so how can i get my ETH back, fucking scamming company

Looks like they have just taken the money and ran. There never was any identification of any of the people running the company - which I should have paid more attention to. The white paper did look promising though. That was part of the con. They are refusing refunds and now refuse all communication. Low life scumbags!

What a ridiculous scam.  Jan 2018 and you cannot withdraw their tokens or ETH.  It's the "Hotel California of Crypto".

Weird thing is that LakeBTC continues to operate making 55milion usd volume every day , ranking 33 in CMC!!!
Seems that people continue using their platform eventhough they clearly scammed so many people and not answering to anyone about this!

So nobody has no answer from these people? Lakebankers totally disappeared with all our investments?

I remember the last update that they moved their launch date or something till mid 2018,  yet no further replies or announcements has been given.

Did anyone contact them and get a response from them? has anyone been able to retrieve his eth back or something?

Any information about these people would be highly appreciated.

since they deleted all information about them, i did find some names:
Thomas Xie - CEO
Andrew McCarthy - CSO
Jeremy Cho - Public Relations Manager

This is next marketplace? ???

again a scam ico. there are more and more. And the scammers don't get caught. why isn't there a bounty like in the wild west? or doesn't it matter to the people whether their money is gone

Isn't it a bad sign that those two percent are still available? Why isn't someone freaking out about this once in a lifetime opportunity and buys it all up?

Tried visiting the site today. Site cannot be reached. Not too sure if she liveth or not. The lack of communication/addressing the community's concerns is quite worrisome though

Why don't they resume their ICO?

I'm impressed about the project makes core banking services for free, for everyone, forever, and to provide a full suite of financial services, including access to electronic money, with much lower costs. It is the saving of money, period. I hope the project progressed well

https://imgur.com/HGUP9QW in case someone wants to find them