JSON & Private Keys Bank - What do you think

[MehdiBmm]

Hello pals!

As I love Bitcoin & all that technical stuff like blockchain etc... I'm trying to think of a startup idea.

What I'm thinking of Is, a registered company specialized at storing wallets and private keys files along with KYC policy and some security protocols. would It be a profitable idea? If no what do you suggest.

Let me hear what you think!

[yayayo]

What I'm thinking of Is, a registered company specialized at storing wallets and private keys files along with KYC policy and some security protocols. would It be a profitable idea? If no what do you suggest.

Sorry, but I think this is an entirely awful idea:

Why would people willfully want to subject to braindead KYC/AML surveillance measures?
Why would people want to trust you to keep their private keys secure?

What you are suggesting is the exact opposite of what Bitcoin stands for. Bitcoin is about the individual freedom of having the power to manage one's own money. What you are suggesting as a newcomer is exactly the same thing that banks and paypal does today: Forcing nanny policy on their users, restricting their financial freedom while exploiting and sharing their private information as they see fit.

No thanks!

ya.ya.yo!

[MehdiBmm]

What I'm thinking of Is, a registered company specialized at storing wallets and private keys files along with KYC policy and some security protocols. would It be a profitable idea? If no what do you suggest.

Sorry, but I think this is an entirely awful idea:

Why would people willfully want to subject to braindead KYC/AML surveillance measures?
Why would people want to trust you to keep their private keys secure?

What you are suggesting is the exact opposite of what Bitcoin stands for. Bitcoin is about the individual freedom of having the power to manage one's own money. What you are suggesting as a newcomer is exactly the same thing that banks and paypal does today: Forcing nanny policy on their users, restricting their financial freedom while exploiting and sharing their private information as they see fit.

No thanks!

ya.ya.yo!

Haha, you're kind right, but I think like with those Bitcoins being hacked easily everyday people wish Bitcoin was managed by an entity.

I really want to start a project on It, what do you think a profitable and USEFUL idea for the community will be ?

[Herbert2020]

What you are suggesting is the exact opposite of what Bitcoin stands for.

exactly this. we use bitcoin so we don't need anybody to keep out money for us. otherwise we would go back to banks and keep fiat hassle free.

also i have a feeling that what you have in mind is similar to Coinbase wallet and Coinbase vault that you can use as a storage for your bitcoin. which is a terrible idea. because it will always lack security.

trusting a third party with your money will always lead to disasters and losses for those who trusted.

[OmegaStarScream]

I'm not sure If I'm reading this right but If you mean users storing their private keys and wallets into your server then NO , It won't be profitable and no one is going to use it.
The whole purpose of making Bitcoin in the first place was so users become "their own bank" , making a service like that could result in a couple of scenarios :

1. "We got hacked " scenario - like Mt.gox
2. You actually get hacked.

[pawel7777]

...would It be a profitable idea?

No.

But on the second thought, if you put on a nice suit dorky t-shirt and glasses and hype it the right way (use 'blockchain tech' term a lot) you could probably get some $$$ off the JV investors. They don't seem to care too much about viable revenue generation models.

[Kprawn]

You have two groups of people in the Bitcoin community... On the one hand, the Libertarian group with strong views on freedom from

centralization and control by governments or companies under government control, and then the group that will follow like sheep and conform to all

these KYC/AML regulations. If you target the second group of people, you will be successful.    

[calkob]

Def not a good idea, it totally goes the ethos of bitcoin which is meant to be decentralised.  what would make people trust you and can you explain why you would even trust yourself if you had the keys to 200,000 bitcoin or something, i wouldnt want to put that temptation before me. 

[mobnepal]

Sorry to say, but i really don't like your idea as it will offer nothing better than what most of the exchangers claim to provide. Like for example bitfinex used to claim they have military grade security protocols, they have KYC policy and also they are registered/licensed exchanger but they also got hacked and they can't pay back their users. And you are talking about storing even more prone to hack datas like JSON and private keys of bitcoin, so hacker will try very hard to get those data and to build security systems enough to withstand this hack attempts will cost you more than what you can earn in years if anyone get intrested and feel safe to use your service.