Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: knight22 on February 23, 2014, 05:21:44 PM



Title: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: knight22 on February 23, 2014, 05:21:44 PM
http://www.neo-bee.com/en/

So basically they have:

1. A perfect audience where people distrust banks (http://www.forbes.com/sites/nathanlewis/2013/05/03/the-cyprus-bank-bail-in-is-another-crony-bankster-scam/)
2. Made a massive national publicity campaign (http://www.youtube.com/watch?v=4kH2kihfdfk)
3. Have lobbied the government to get a proper legal framework. (http://www.youtube.com/watch?v=0Ln0dwxuPcc)
4. Have partnered with several entities like a local food chain. (http://www.neo-bee.com/en/services/use-bitcoins/)
5. Offering 1000 first PoS terminal for free. (http://www.neo-bee.com/en/services/business/bee-cards-your-business/)
6. Offering awesome financial services. (http://www.neo-bee.com/en/services/personal/upcoming-products/)
7. Have an incredible upbeat promotional video (http://www.youtube.com/watch?v=fb1zZoUfMGE)
8. They have a great brand new building. (https://i.imgur.com/iBg4uaV.jpg)


The stars are aligned to make bitcoin mainstream out there! I hope their launch will be a great success!


Title: Re: Neo & Bee world first bitcoin banks about to launch in Cyprus tomorrow.
Post by: Sydboy on February 23, 2014, 05:25:20 PM
I was under the impression Cyprus had no money and the government or banks basically stole money from the people.
Do I need to read the newspaper more ?


Title: Re: Neo & Bee world first bitcoin banks about to launch in Cyprus tomorrow.
Post by: knight22 on February 23, 2014, 05:29:23 PM
I was under the impression Cyprus had no money and the government or banks basically stole money from the people.
Do I need to read the newspaper more ?

Quote
All insured deposits (individuals and legal entities) up to €100.000 have, as of 26 March 2013, been transferred from Laiki Bank to the Bank of Cyprus.

Not sure what your point is


Title: Re: Neo & Bee world first bitcoin banks about to launch in Cyprus tomorrow.
Post by: Calhil on February 23, 2014, 05:30:11 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: knight22 on February 23, 2014, 05:33:52 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?
Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Calhil on February 23, 2014, 05:49:35 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?
Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.
They cant touch my bitcoins in my wallet either. I still dont see any advantages in using a bank for cryptocurrencies. If they offer an interest bearing accounts that might attract some people, otherwise i just dont see a point..


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: V4Vendettas on February 23, 2014, 05:49:47 PM
 Good for Cyprus. Being able to buy stuff in local shops with coins this just makes me feel happy. Really hope Cyprus can forge ahead on this path. On a national level Cyprus might be taking the first steps for a very real proof of concept.


@Calhil dude surely you can see many are not confident in their own ability to protect their coins yet wish to be involved. This way we might actually see little old ladies popping out to buy some olives from the local grocer with bitcoins.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: knight22 on February 23, 2014, 06:01:15 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?
Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.
They cant touch my bitcoins in my wallet either. I still dont see any advantages in using a bank for cryptocurrencies. If they offer an interest bearing accounts that might attract some people, otherwise i just dont see a point..

They will offer plenty of bitcoin denominated financial products. As per example they are optionally removing the volatility risk for their users i.e.you can have a fixed 100$ worth of bitcoin no matter if the price goes down or up. This is absolutely needed if you want to make bitcoin mainstream for normal Joe users and merchant. It is all written on their website that you obviously didn't check.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: LiteCoinGuy on February 23, 2014, 06:20:37 PM
good luck guys. nice video and nice work.

@knight22

yep, thats a cool service. lets see how this will play out.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: runam0k on February 23, 2014, 07:06:10 PM
They cant touch my bitcoins in my wallet either. I still dont see any advantages in using a bank for cryptocurrencies. If they offer an interest bearing accounts that might attract some people, otherwise i just dont see a point..
Because Grandma and Grandpa Cyprus don't know WFT a "wallet" is. They don't know what Bitcoin is. What they do know is euro in regular bank accounts is not safe. Neo will offer a bona fide alternative to hiding cash under the mattress, safe from banks, safe from the government and safe from the EU.

Good luck Neo and Bee!


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: FelixOliver on February 23, 2014, 07:30:41 PM
This could be big news for bitcoin... hopefully it all goes as planned

The owners seem like they know what they're doing... their marketing is so / so, but that's okay i guess.

Do I predict another Boom on the horizon?




Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: rmines on February 23, 2014, 07:32:05 PM
Seems to be very good news for bitcoin.
I hope this will play out well next week..Too bad gox isn't already gone..


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Lauda on February 23, 2014, 07:42:03 PM
Quote
Accepting BTC in Cyprus
Our aim is for Cyprus to quickly become a global hub for Bitcoin acceptance and development.
Sounds good. Hopefully this will clear the dark cloud that Gox has put over us. The price has to recover.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: bananas on February 23, 2014, 07:45:56 PM
Explain how can we trust Cyprus after they seized people's money that were in bank accounts?


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Lauda on February 23, 2014, 08:15:15 PM
Explain how can we trust Cyprus after they seized people's money that were in bank accounts?
They can't seize your coins, you should read more about this bank.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: knight22 on February 23, 2014, 08:16:44 PM
Explain how can we trust Cyprus after they seized people's money that were in bank accounts?

You should listen this http://www.youtube.com/watch?v=0Ln0dwxuPcc


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Calhil on February 23, 2014, 09:42:26 PM
Explain how can we trust Cyprus after they seized people's money that were in bank accounts?

You should listen this http://www.youtube.com/watch?v=0Ln0dwxuPcc
So basically they are creating a new payment network backed by bitcoin. You wont be able to use bitcoins with them, but you can deposit your bitcoins and use the network once you get that bee card.
I think the best they are trying to do is to add more btc/fiat exchanges.
Im not very optimistic about this project, but I wish them luck nevertheless ;)


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: minimalB on February 23, 2014, 09:56:31 PM
This sounds huge!

Excellent video, btw!


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: exstasie on February 23, 2014, 10:01:50 PM
This sounds promising!  Is this going to be available to any person to join, or specifically those who live in Cyprus?


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Abdussamad on February 23, 2014, 10:50:11 PM
So another online wallet service. I wonder how long before they get hacked


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Skoupi on February 23, 2014, 10:58:08 PM
So another online wallet service. I wonder how long before they get hacked

I really hope for them to be as good in security as they are on marketing.

And for all services that are dealing with our private keys, i mostly worry about them getting "hacked" than hacked...  :P :P


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Coinster on February 23, 2014, 11:23:29 PM
So another online wallet service. I wonder how long before they get hacked

They are more than an online wallet service from my understanding.

They're more of a complete financial network. Cyprus is small enough that they can provide wide coverage for merchant services. I think many merchants are interested. So the Cypriots will be able to set up an account, with a familiar bank like setting, get a card, and easily buy from merchants.  In theory they can use convenient high tech money management, but the money is now independent of government and banks. It can't be seized, and instead will probably provide increased purchasing power. It's the opposite of what they have now, and is apparently govt. approved.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Abdussamad on February 24, 2014, 07:18:31 AM
So another online wallet service. I wonder how long before they get hacked

They are more than an online wallet service from my understanding.

They're more of a complete financial network.
<snip>

So they are like bips.me? We've been down this road before. Offering complete merchant services does not mean that your online wallet service is magically more secure.

Sorry, for the snipping. Sounded like dogma to me.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Tirapon on February 25, 2014, 05:32:31 PM
http://www.reddit.com/r/Bitcoin/comments/1mr91m/i_am_the_ceo_of_neo_the_bee_payment_network_in/

There was a lot of hype surrounding NEOBEE when they first launched - you could buy shares on the now no longer operational Bitfunder - I actually read over their company profile and remember being fairly impressed - enough so that I bought some shares. I forgot about them until Bitfunder closed down, and NEOBEE did a great job of migrating the shares to a new platform (their own platform I believe).

Nice to see they are ready to launch, I look forward to seeing how things go. I'm also quite keen to have one of those Bee cards in my wallet...


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: trek27 on February 25, 2014, 09:48:45 PM
This sounds promising!  Is this going to be available to any person to join, or specifically those who live in Cyprus?
They plan to expand services to all EU countries through partnerships. But I'm not aware of any specific schedule.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: huadylmate on February 25, 2014, 10:06:56 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?
Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.

But you wont be able to touch your funds neighter without Neo & Bee, so basically your Bitcoins will be not usable if you will not agree with something like 10% tax of your Bitcoin ballance, if there will be such Cyprus law in future for example


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: runam0k on February 25, 2014, 10:22:21 PM
I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?
Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.

But you wont be able to touch your funds neighter without Neo & Bee, so basically your Bitcoins will be not usable if you will not agree with something like 10% tax of your Bitcoin ballance, if there will be such Cyprus law in future for example
Not according to the marketing materials - customers can use their bitcoins even if Neo disappears.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: Lauda on February 26, 2014, 09:48:25 PM
So another online wallet service. I wonder how long before they get hacked
This is not correct. They provide assurance to your money/coins if I'm correct.
They aren't just 'another' wallet service.


Title: Re: Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.
Post by: rmines on March 03, 2014, 12:14:33 AM
There also isn't a single online wallet that I know of that has a bricks & mortar office.