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. |
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What proportion of tokens should be allocated to the team in a good ICO? There doesn't seem to be much discussion about this question, but there are massive differences in recent successful ICOs. I wrote a short post about this on medium: https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579To keep things transparent, I'm associated with an upcoming ICO, LakeBanker ( ANN thread). We have quite a large allocation of team tokens coupled with a long vesting schedule which limits our freedom to sell team tokens to the market. In the post, I argue that this is a good way to go. But we're genuinely interested in getting some feedback from the community on this question. Thoughts welcome... |
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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 |
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what do you think about the bounty of share it on facebook or twitter? did you set a limit of friends or followers?
we will update social media and translations soon, please stay tuned. |
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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. |
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And still looking for more quotes for a Chinese translation of the White Paper. Please message us if you are interested. Thanks.
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Still looking for quotes for a Japanese translation. Please message us if you are interested (or if you know anyone that might be). Thanks.
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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.
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. |
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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. |
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Saw it. and how much tokens did articles like this deserves bouns? the bounty program just roughly said 50-1000. Please contact us at tokensale@lakebanker.com if you have any interest in writing about us. |
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Do you need a translation of Hindi which is the official language in India? and India is the second largest market after china.
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. |
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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  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! 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. |
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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#ban3. 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. |
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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.
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Big difference in the vesting schedule's for team tokens though. We (LakeBanker) have a full 5 years----only 20% of team tokens are available for trading each year. This shows our team is committed to the project. Civic has no such vesting schedule at all?  ?? |
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Here is our [ANN] thread: https://bitcointalk.org/index.php?topic=2028648.0We are looking to get our White Paper translated into the following languages: Chinese Japanese Spanish If you're interested, please PM us with some information about your experience and a quotation in our token. |
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