if I had a few million in Bitcoin and was smart enough I would be starting a bank not waiting for fiat ones to do it. Starting a bank now that is backed by Bitcoin but is user friendly in these times if done well could make you the next decades JP!organ, seriously it's a no brainier if you genuinely believe Bitcoin is going mainstream.


I think we are all programmed these day to think money and banks are for big powerful players and we can't comprehend that at some point these big banks were often started but some little guy.

You guys here really did become the thing you supposedly hated. A clicky group of lossers desperately trying to pump a coin.

So you're the Russian kid that hide behind 'Hide my ass' and got 100 stakes.

Well I'm basically proposing Bitfinex (which I know little about) with a user friendly fiat front of shop (meaning an online website) so users never need to touch Bitcoin or a wallet but can use maybe a fiat type wallet even that can send money just like any other bank online does.

If Bitcoin serves the purpose Gold does then it's actually a natural base for an online bank.

I've made about 4 big moves in crypto. I sold them all at a profit but would of done far better had I sold earlier.

Fiat to Ripple (big rise then it slumped)
Ripple to dark coin (caught early move)
dark coin to Qora IPO (10x increase...I did baghold that one, a great coin. But the developer was an oddball)
Qora to Getgems. (Holding until I become a millionaire)

im not posting this to boast, I held some coins too long, but Gemz I feel different about cause it's tangible, the rest were quality coins for different reasons but they ultimately have no intrinsic value. Plus Every single short term trade I ever made lost me money, it's basically gambling.

Your main point against Getgems is it's a bait and switch. Well its a fair argument to a point. Gems was supposed to be an in house developed app with a counterparty riveted wallet. But the innovation in the app was never that it was a messenger and obviously counterparty is not developed by Getgems. So the point while technically correct hides the facts, here's a few.

-The app was already set for release, we had demos on youtube. my point is they already put the work in. It's was more about send coin using Telgram that spurred a getgems to use its platform to increase the viral nature of Telgram, basically nab their users.
-Any messenger app today is not innovative, clearly ithey are invariably just a reworked model of other messenger apps. So I house or Telegram open source it's kind of the same.
-it's actually been it seems a real headache using Telgram, relying on a third party I. Terms of compatibility etc isn't going to make anyone work easier. My point is it wasn't the lazy option, the only extra benefit I can see is gaining already onboard Telgram users.
-The gems team have built so much on top of the Telegram clone that they deserve credit where credits due. the earl innovation is stuff that has nothing to do with messenger and the wallet, it's the attention model, airdrop, advertising platform, these are the innovations and I'm bettering it ain't easy to do.
-If it was shit easy to do then you would already see a bunch of competitors, so far nothing on the horizon...
-This is not like cloning a coin, this takes some serious coding, comparing it to your world of shitcoins is kind of silly.


And lastly, Getgems was voted and won a global competition for most innovative banking technology from Citi Bank. Sorry but they aren't going to be giving awards at that level out for a piece of crap are they?

In the last few hours Getgems has gone up 5% and NEM has gone down about 5%. If you were trying to attack Gems you might want to try another strategy. 

TaunSew, you are missing one important fact, IF this app is successful there is room for other cryptos to possibly be added. Do your community a favour and don't ruin any chance of your supported coin to be considered, cause at this point you're not doing NEM any favors. you posts help push our threads though, so I guess a thnak you is in order.

You're really not getting the concept this coin can't be fudded on this forum are you.

So do you think IF the app gets a million downloads (conservative actually for even average chat apps) you the great Fudder of Bitcointalk will be able to affect the price with memes and forum posts?


Let's give you a challenge, try to destroy FB......ok I'll give you 24 hours. I want to see users drop by 50% and the share price the halve. Go TaunSew, go...

How to destroy NEM?

Just wait a while...

Hahaha seriously how do you look yourself in the mirror.

Last chance to dump more like...NEM has nothing going for it..I remember all the NEM guys saying how it would be top 5 coin after a few months...reality is number 33 and dropping, hahaha

Ok you're delusional.....nothing to see here move along, man down.

Your desperation is almost as low as NEM is on Coinmarketcap.

People have made some money on even the worst scam coins ever made....your point sir?

No Reality Movement more like...

Look at a long term chart of Monero and 90% of alts. They ALL fell of a cliff a while back now and will probably never recover.

I moved my entire Bitcoin into Gemz. I actually bought at way higher prices that now, Imhave a confession, I actually was probably responsible for the early spike in price as I was overly anxious to buy cause I thought the price would explode. I have never felt more comfortable with being a 'bag holder' in my whole time owning coins, and I owned a lot of different ones. I actually want the price to stay down cause I can't buy anymore for a couple of months.

Heres one thing I like about Gems, it can't be hyped and it can't be fudded. the success of the app will purely be based on its user base and how viral it can get once everything is in place. my guess with the uniqueness of the app and it's generally intriguing very accessible story it's going to be very very easy to market to mainstream tech news outlets and even the MSM. that time is not now but I believe it will come.

What you guys invested in your alt coins fail to get is that even if there is 1000btc vol on exchanges no one and I mean no one is using those coins and likely ever will. Bitcoin let's face it is the crypto currency that will succeed, the rest are vehicles of fantasy for fools like you to run around forum message boards in sad attempts to hype so you can trade and offload and ultimately buy more Bitcoin. The game is up, the market is rigged, your the bagholder, go get a better hobby.

Thanks, it's kind of what I was saying but their failure doesn't mean the concept is flawed, it just means they didn't successfully run the business, the concept I know is sound, unless banks don't work? it seemed a bit convoluted with shares offers etc.  Plus it was trying, it seems to keep a consistent fiat price for their customers which seems foolish. people depositing fiat in the kind of bank I'm talking about would have to know their investments could fluctuate but also of course in their favour.


In many ways what I'm suggesting kind of works like some Gold backed funds that also give you a credit card you can use just like any other. I think Peter Schiff runs a gold account like this from outside the U.S.

I said nothing about looking for a bank that does it, I'm saying now why not just start one?

of course a bank makes money from loans to pay interest. that's exactly my point. Why are people referencing exchanges which are often anonomous and don't do what I'm suggesting ie provide a front of shop service which would work like any other bank and holds your money for you and gives you a card you can use that is denominated in fiat.

I think people have such a distorted view of what a bank is that they simply can get their head around the fact banks existed in the past and were not much bigger a business that a hardware store. A bank simply stores people money safely and loans as much as it thinks is viable to keep them in business and attract savers. it's not rocket science. An exchange isn't anything like what I'm saying. With this concept users wouldn't use Bitcoin they would use fiat up to the value of their Bitcoin in their account. YOU WOULDNT DEPOSIT BITCOIN, YOU WOULD DEPOSIT FIAT.

If I was Greek right now I would run at a bank that was backed by Bitcoin and if it existed and worked just like any other bank that even your mom could relate too, no Bitcoin wallets not secret keys, none of the shit that stops average people touching Bitcoin. A bank like this would have to focus on security, just like banks used to, ie vault etc. So they would want to hold Bitcoin in the most secure wallets and have multiple wallets etc, everything encrypted etc. Maybe if possible insurance that guarantees a persons deposits.

This is where Bitcoin needs to go for the mainstream.

Why does a bank need to be big?

Maybe i'm being naive but all someone needs from an average bank is for their money to be held safely. Plus a bank makes money from loaning money. So why can't it be scaled as the bank grows? I imagine there are a lot of laws and red tape to jump through I'm not going to suggest it would be easy but actually without red tape its an incredibly simply business model. You simply hold Bitcoin and pay a small interest of even none and loan Bitcoin for a charge. Community co-operative farming banks etc have been around for decades. Small banks were actually more the norm in the past I expect.


*Sorry but an exchange does not self the basic function of a bank i.e. keep your assets safe within reason. Exchanges are the opposite of safe.

I know you guys are a hardened cynical bunch but I honestly think this could become the killer app Bitcoin/Alts needs for the masses.