Updated OP for March activity.

Starfish BCB completed holiday in Japan and had a lot of fun, and also did quite a lot of lending (around 1000 coins) and deposit taking (around 2000 coins), including processing withdrawals (around 500 coins).

As advance warning, I may need to drop the interest paid on deposits in May to 1.25%/week, but trying to avoid that.  Dependent on a project that should be clearer towards the end of the month.

Quoted so the pic gets more air time.  Drool

Confirmed.

(Starfish waves at Burt)

Making an observation about current dollar banks, they have 5% reserves, are not guaranteed, but do have fancy web sites.  There is also the possibility they are a ponzi in disguise.

So, if I had a nice web page, and someone bothered to visit to audit my accounts (for most people that's a 12+ hour plane trip if not longer), you would be happy ?  (actually DoubleC is probably quite close to where I am, and he would probably fall into the trusted category around the forums - never met him, but I've traded several thousand dollars of coins with him)

Looking a little more closely, I could apply the S&P criteria to the operation I'm running - sure I have some funds in coins, and normally run a reserve for at least one of my largest depositors for on-call withdrawal (around 500 coins), and have other coin reserves available at short notice running 200% of my total deposits.  Besides that, I have on-call cash reserves outside bitcoin many time larger again, but given I am running a private "bank", that level of disclosure is probably not warranted.  If people wanted that, then banking with a secured organisation would cost more as a premium service, and I don't think people are at that stage yet.

Further, I have clients that request privacy, so while I might disclose total deposits (around 2000 coins) and could request a number of people to verify the level of investments I have with them (such as Pirate), additional audit might not provide any real benefit.

Still, thanks for your comments.

post script - while I was writing
I don't worry about exchange rates to currencies like USD because my bitcoin business is in bitcoin.  If people wanted USD accounts, they should go and deal with USD banks.

Looking for constructive criticism on the current "banking" functions, what do you actually see that is missing?  I provide loans and take deposits, as do others.  What more are you after?

Would an end time help?  Otherwise, I think you have a winner.  (actually, given the increments and size of prize, you should just pay out now because no one else should bid)

True.

The OP was not clear on that point.

So, I have several hundred bitcoin in different shares in GLBSE, and now I can't trade them for some unspecified time due to some unclear reason.  Are you trying to kill your exchange?

Please explain what you are actually doing i.e. suspending trading indefinitely? That is what you've said.

Initial Public Offering - There can be non-public offerings and many companies have these.  Initial, secondary and pre-release (institutional book-building) can all take place before an initial listing on an exchange.  Also "exchanges" are only sometimes used to directly sell from the initial shareholder.  I can simply consider the previous IPOs I have purchased into, and none involved buying from an exchange on day one.

Maybe I'm being unreasonable, and my commercial experience here is different to a lot of others (I raised $20M through public offerings), but I really would like people to be more informed about how things work before making silly statements.  

As disclosure, I have subscribed for 500 bonds, and I am very annoyed at the heavy handed "regulator" approach apparently being shown by GLBSE.  I have offered (elsewhere) to run a bond register to facilitate and track user trades for free if GLBSE continues their ridiculous posturing and choses not to register one of the largest and more respectable potential issues we have seen for some time.

Sounds like a second exchange will be created if this is too big a problem.

Also, it is common in an IPO for there to be several shareholders of the asset and only a portion are sold at IPO time.  If GLBSE attempts to halt that activity then the operators are commercially naive (stupid) and it falls outside of the TOS as it is prior to being on that particular exchange.

On a related note, I discussed with James a stake in his operation back in January, but due to circumstances, was not able to invest (We were talking $10k-$20k at the time).  If you think a simple exchange like GLBSE wants to retroactively reach into those arrangements, you're dreaming.  I'm quite happy to run a bulletin board trading service for a Giga issue if required (I'll wear my professional company secretary hat (ACIS) for that), and do it for free.

you start flaming potential lenders even before they have responded to an outrageous request for coins

Could be fun, and they are not too expensive.

200 BTC loan to Cobra on the terms we agreed several weeks ago.  i.e. payments are set at 10% of the principal each week for 13 weeks.  That isn't as bad as it might look, because in three months the principal is paid off fully.  An interest only loan would cost more over the term.

Hey - pm sent, similar question to above, what interest rate were you looking for?

Yes.  Both on some large (> US$1000) and small (< US10) transactions.  Given fixed fees are $40+ and conversion rates are often 4%+ as well, it works.

I think it's a useful service - not sure how you are planning on generating funds/income, but interested in an investment opportunity.  Interested to receive info via pm - looks like a nice investment group is around to support you already.

Patrick

BCB doesn't actually stand for anything, but if you want it to, that's ok.  In my jurisdiction there are laws against using the word "bank" in company names, so I avoided writing that.

Maybe I should change to Bikini Bottom Bank?  Patrick Star is holidaying in Kyoto currently - I have a picture of him next to the Shinkansen, but I'm sure he'll up to other tricks in the next week.

Yes, funds received.  Thank you.