First Ever Bitcoin Bank to be Opened in Switzerland?

[cysive]

It is actually bad for bitcoin as it takes away the decentralized part away from bitcoin. And it is hard to trust them as they might sell for fiat for their further investments.

But what is the difference from big time services like coinbase, circle, and sites like that? Now I know they do not loan money but I am not seeing what the issue is.

Nothing. These guys don't know the difference between the words "bank" and "central bank".

-C.

[Gleb Gamow]

is this the First Ever Bitcoin Bank to be Opened in Switzerland?

source:
http://www.newsbtc.com/2015/05/28/first-ever-bitcoin-bank-to-be-opened-in-switzerland/

Guido Rudolphi, who is an IT specialist among a group of eight people involved in the project, said that they’ve already gotten investors on board and have searched for suitable premises for establishing the bank.

Yep, it's the same guy: https://www.youtube.com/watch?v=ieXZTmEw0qA Took me ~30 seconds to connect the dots. I wonder if he'll hire me.

Also curious as how many Bitcoiners are goin' line up at Bank of Bitcoin to deposit their bitcoins [and vitals] into an entity whose chief scientist can document everything about you.

Rogue Guy: Is $X USD enough for the info.
GR: Yes. So that we're legal, you purchase from me this entity (not crypto related) I created five years ago. Sign here. Now, I'm goin' outside to water the tomatoes, so please don't mess with this here computer which I'm still logged in, mmmkay?
Rogue Guy: Got it!
...
Rogue Guy: How are the tomatoes?
GR: Fuckin' rabbits!
Rogue Guy: Heard that! Gotta go. Later, bud.
GR: HeHeHe! I bet he really believes that I have tomatoes. Next project to work on.

Looks like I just single-handedly nipped this Bitcoin Bank idea in the bud.

BTW, if this Guido Rudolphi is so damn good at outing people, why hasn't he found Satoshi? Is it because...


Guido and Doge

https://who.godaddy.com/whoisstd.aspx?domain=btc-dd.com&prog_id=GoDaddy

Domain Name: BTC-DD.COM
Registry Domain ID: 1906966779_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.publicdomainregistry.com
Registrar URL: www.publicdomainregistry.com
Updated Date: 2015-05-03T02:30:57Z
Creation Date: 2015-03-03T22:18:07Z
Registrar Registration Expiration Date: 2016-03-03T22:18:07Z
Registrar: PDR Ltd. d/b/a PublicDomainRegistry.com
Registrar IANA ID: 303
Domain Status: clientTransferProhibited
https://icann.org/epp#clientTransferProhibited
Registry Registrant ID:
Registrant Name: Guido Rudolphi
Registrant Organization: NetMon, LLC
Registrant Street: Seestrasse 110a
Registrant City: Uster
Registrant State/Province: Uster
Registrant Postal Code: 8610
Registrant Country: CH
Registrant Phone: +41.0442728614
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email: rudolphi@netmon.ch
Registry Admin ID:
Admin Name: Guido Rudolphi
Admin Organization: NetMon, LLC
Admin Street: Seestrasse 110a

[Leeroy Jenkins]

I've said it once (in another thread) and I'll say it again. "Bitcoin bank" is just another turn of phrase for "scam".

[Gleb Gamow]

I've said it once (in another thread) and I'll say it again. "Bitcoin bank" is just another turn of phrase for "scam".

http://www.cryptocash.ch/

No likey the banky idea, Guido will store YOUR bitcoins in some undisclosed Swiss Alp mountain.

I LIKE THIS GUIDO DUDE! 

[Gleb Gamow]

I've said it once (in another thread) and I'll say it again. "Bitcoin bank" is just another turn of phrase for "scam".

Guido owns Kalix LTD.

https://who.godaddy.com/whoisstd.aspx?domain=beepip.com&prog_id=GoDaddy&k=7CSG3xN33Ipen4ioBJ9OBvLn8FNzGUbkigdZjRG7LUpVmcVpqnb3apVvApJWitHB

Domain Name: BEEPIP.COM
Registry Domain ID: 1847063474_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.publicdomainregistry.com
Registrar URL: www.publicdomainregistry.com
Updated Date: 2015-03-26T13:31:03Z
Creation Date: 2014-02-18T04:49:08Z
Registrar Registration Expiration Date: 2016-02-18T04:49:08Z
Registrar: PDR Ltd. d/b/a PublicDomainRegistry.com
Registrar IANA ID: 303
Domain Status: clientTransferProhibited
https://icann.org/epp#clientTransferProhibited
Registry Registrant ID:
Registrant Name: Kalix LTD
Registrant Organization: Kalix LTD
Registrant Street: Po Box 27191
Registrant City: Christchurch
Registrant State/Province: Canterbury
Registrant Postal Code: 8064
Registrant Country: NZ
Registrant Phone: +64.0273282521

http://beepip.com/

And, once YOUR bitcoins are in Bank of Bitcoin-cum-[secret] Swiss Alps mountain, email a love one your password via Guido's, the spy expert, other business model, protecting your emails from...wait for it...(you guessed it - SPIES).

QUESTION: Am I the only fucker connecting the dots here?

Ring! Ring! Ring!

: Hello.
GR: Hello, Satoshi.
NS: Excuse me.
GR: Gig's up. This is Guido.
NS: What took you so long to find me?
GR: Been busy and didn't have ten minutes to spare.
NS: What do you want?
GR: A bank.
NS: Gulp!

[Gleb Gamow]

The following is an interesting quote:

One question: why? Why you need any bank?

I also was searching for bitcoin bank, and the reason is simple; it would provide loans to those who need them, and offer savings account with positive interest to those that want to save bitcoins.

This is actually a very valid response - banks are necessary to fund startup and small business initially which in turn are important for both economic and social growth.

@OP: As far as I'm aware there is no reliable Bitcoin bank - there would be tonnes of web wallets and scams out there pretending but IIRC no licensed and insured entity which offers interest on Bitcoin deposits currently exist. I suspect it may because there just isn't enough volume of Bitcoin deposits in all likelihood to make the venture profitable.

See here:

http://etfdailynews.com/2015/05/27/switzerland-to-open-bitcoin-bank-as-crypto-fort-knox-relocates-to-zurich/

How interesting, you ask?

Just in case someone is interested: The corporate filings for Havelock can be found here in the "Freebies"-section:


http://btc-dd.com/openreports.html

Dude alos linked to BTC-DD, an entity that Guido owns.

Did I mention that I like this Guido dude?

[Gleb Gamow]

Boy, am I slow! Nobody fucks with Guido because Guido has the tools to fuck back.

Luckily for me, the Honest Abe totem pole next to my home has been up-rooted and removed, now Guido can't find me unless... He asks Nitrowolf on Reddit.  I'M FUCKED!

[Gleb Gamow]

The following is an interesting quote:

One question: why? Why you need any bank?

I also was searching for bitcoin bank, and the reason is simple; it would provide loans to those who need them, and offer savings account with positive interest to those that want to save bitcoins.

This is actually a very valid response - banks are necessary to fund startup and small business initially which in turn are important for both economic and social growth.

@OP: As far as I'm aware there is no reliable Bitcoin bank - there would be tonnes of web wallets and scams out there pretending but IIRC no licensed and insured entity which offers interest on Bitcoin deposits currently exist. I suspect it may because there just isn't enough volume of Bitcoin deposits in all likelihood to make the venture profitable.

See here:

http://etfdailynews.com/2015/05/27/switzerland-to-open-bitcoin-bank-as-crypto-fort-knox-relocates-to-zurich/

How interesting, you ask?

Just in case someone is interested: The corporate filings for Havelock can be found here in the "Freebies"-section:


http://btc-dd.com/openreports.html

Dude alos linked to BTC-DD, an entity that Guido owns.

Did I mention that I like this Guido dude?

Besides also owning a dog, let's see if I can convince you that RealMalatesta is none other but Guido Rudolphi, with apologies for taking so long in connecting the dots but the search function on this forum is once again not operable.

http://www.coinbuzz.com/2015/03/15/is-this-startup-threatening-the-entire-bitcoin-network/

Bitcoin forum user “RealMalatesta” shared his belief that Chainalysis is violating the laws of the country it is based in, Switzerland.

He posted, “First of all, I am pretty sure that Chainalysis is violating Swiss laws by collecting this data and giving this data to their clients. But this is an issue for lawyers in Switzerland. Me, for my part, have sent a request to the Swiss data protection agency. I want to know WHAT they collect and see it.”

RealMalatesta found that the company, which was established on December 24, 2014, is owned by Trifork Holding AG, and Danish companies Swift Bit Holding ApS and Ceptacle Holding ApS.

He concluded his findings:

So basically, Chainanalysis is controlled by foreign corporations. And I want to know how Chainalaysis is complying with the Swiss Data Protection laws.

An IP address is, according to Swiss law, “personal data”.

According to this law, Chainanalysis has to give access to all the data they have regarding a specific IP to the person who was using this IP at the time the data was collected. Such a request can be sent to Chainanalysis by e-mail and they have to respond without the right to charge anything for this. They have to tell them how they obtained this data and what they intend to do with it.

Furthermore, they have to make sure and public how the personal data of users of the Bitcoin network is protected. If they don’t, everybody can write a complaint to the Swiss data protection agency.

I'd be remiss if I didn't depict proof that RealMalatesta lives in Switzerland.

Geee.... my C1s left the factory on October 27, came to Switzerland, back to China, now back in Germany - hopefully, I'll get them in three days...

They wouldn't have gone back to china, it will be a customs clearance event.

Hm, I'm not sure. Left China 27. Was in Switzerland on the 30st. Then the message that information for customs is incomplete. Then back to China, from there to Dubai, from there to Germany, now in a truck to Switzerland. If they really only wanted to get additional documents, they would have kept the parcels in Switzerland and sent the documents - but not through Dubai, Germany...

However, I'm afraid that I'm the one who receives his C1s as the latest of all who bought it....

[Mobius]

I wonder what Satoshi thinks of this?... lol

[Gleb Gamow]

I wonder what Satoshi thinks of this?... lol

Ask Guido Rudolphi to ask him.

http://ban.org/library/TheDigitalDump.pdf

Hard drive analysis: Mr. Guido Rudolphi, NetMon Gmbh.

He's got talent,
Yes he do.
He's got talent,
How 'bout you?

[hua_hui]

IMO for most bitcoin adopters, they need such kind of service, a trusted third party holding their funds and earning interests at the same time. Switzerland is the best place to open such kind of bank, due to its regulatory stability, international neutrality and its deep-seated tradition in global finance.

[Gleb Gamow]

http://www.historycommons.org/entity.jsp?entity=guido_rudolphi_1

Profile: Guido Rudolphi
Guido Rudolphi was a participant or observer in the following events:
Early 2000-September 2001: Al-Qaeda Recruiter Said to Run Radical Militants Communications NetworkEdit event  
Mohamedou Ould Slahi, who helped recruit three of the 9/11 hijackers and has been known to German and US intelligence for some time (see 1999), returns home to Mauritania in early 2000 and starts working at a series of internet cafes that appear to be cover for a radical militant communication network. Slahi is also thought to be involved in the Millennium Plot, is arrested and released twice before 9/11, and is questioned by the FBI and others about his knowledge of the Millennium Plot (see January-April 2000). After 9/11, Slahi will be investigated by an independent Swiss researcher called Guido Rudolphi, who runs an internet monitoring service. Rudolphi will find that Slahi runs a group of seemingly innocuous websites, but behind them there are guest books where visitors can leave messages. According to Rudolphi, this is the perfect communication tool for extremists, “f you want to hide the content of the communication, you can put a message in the guest book. The owner of the guest book receives an e-mail, within seconds can look at the message, edit it, so it looks pretty normal, although the real content, which he has seen already, has disappeared, and may be harmful.” A dramatic increase in such traffic begins in May 2001, but then drops to an all-time low shortly before September 2001. By analysing the traffic, Rudolphi will find that the trail leads back to Duisburg, Germany, where Slahi studied at university. After 9/11, western intelligence agencies will come to the conclusion that Rudolphi’s research is well-founded and indicate that al-Qaeda had an operations center in Duisburg. [CNN, 3/6/2002]

IMO for most bitcoin adopters, they need such kind of service, a trusted third party holding their funds and earning interests at the same time. Switzerland is the best place to open such kind of bank, due to its regulatory stability, international neutrality and its deep-seated tradition in global finance.

IMO, if the IT dude is an expert in tracking people via the internet who've done everything to cover their tracks but was still found, I'd say Bank of Bitcoin is an excellent place to store your bitcoins if you're goal is to remain anonymous. Hell, Guido will even let you use his spy-proof email service to conduct whatever business you have in mind.

/s

If the NSA came out with the very same plan, you guys would be in a uproar, but if some dude name Guido comes along having virtually the same abilities, the line reaches into the next county awaiting for the doors to open for business.  

http://www.journeyman.tv/?lid=60020&tmpl=transcript

Everyone leaves a trail – even the most experienced internet crook. And Guido Rudolphi, the Sherlock Holmes of the Cyber world, can find them all.

Hitler Deposits his Bitcoins into Bank of Guido

[Gleb Gamow]

From the desk of Have You People Lost Your Mother Fuckin' Minds?,

February 25, 2013: http://www.beobachter.ch/konsum/multimedia/artikel/passwoerter_immer-wieder-todsuenden/#c354462

Security researcher Guido Rudolphi

"Again and again deadly sins"

With a good computer every password can be cracked, says security expert Guido Rudolphi. Mostly, however, it is sufficient to rely on the naivety of people.


Guido Rudolphi, 51, is an IT security expert and operates the company Netmon in Zurich. Photo: Private

Observers : A difficult? Rudolphi : No. My wife has a new computer, and they did not know the password of the old.

Observers : Was that a challenge? Rudolphi : Thanks to the proper hacking program, it took less than two minutes.

Observer : Are you already failed once in a password? Rudolphi : Yes, there have been.

Observers : And what was it? Rudolphi : The one who had encrypted the password came from India, and he put the password in Hindi. That was my problem at the first attempt.

Observers : And the second attempt? Rudolphi : Because I did it. But I had to install a very good computer, then the three months ran day and night.

Observers : This programmer has obviously done a good job. Is the safety culture among professionals generally high? Rudolphi : On the contrary! Even professionals repeatedly commit mortal sins safety. I have among my customers two banks that have spent millions on their security systems. In both cases, the system administrator set up before commissioning an a test account. Username and password both denominated same: "Test". When I tested her system on behalf of the banks, I was in there before I could count on three - and had access to all documents.

Observer : What mistakes you make to passwords of laity most often? Rudolphi : That people use passwords that have something to do with their lives. Often do I get a password by I look at the Facebook account of a person. If there is the name of the dog or a child is mentioned, I feed the one in my password database. It becomes difficult for hackers until someone creates a password of something he does not like or which has no connection to his life.

[Gleb Gamow]

http://www.netmon.ch/presse/030510_tst.php?id=2

Cyber-war on terror: The check's in the e-mail

«Digital Pearl Harbor» on water and power systems possible, so cyber-security firms race against terrorists.

ALL your fears that someone else is reading your e-mail and studying your Web habits are true.

But what you say or do online is usually not important enough to be scrutinsed. Cyber-security firms, like NetMon Inc from Switzerland, have bigger fish to fry - terrorists.

At the start of the two-day conference here on Thursday on «The Changing Face of Terrorism», terrorism expert from around the world gathered to examine evolving tactics, technologies and targets of terrorist groups.

NetMon's chief executive Guido Rudolphi gave a chilling assessment of terrorists' use of the Internet, showing how sophisticated their communication networks are.

Mr Rudolphi, 42, said that while the threat of cyber-terrorism or a «digital Pearl Harbor» is still small, terrorists' technological capabillities have greatly advanced.

They have yet to use the Web to strike critical infrastructure like water systems or power plants, which some fear are the next targets for technologically-savy terrorists.

He said: «We have seen a lot of Virus attacks ... which did slow down the Internet and cause some damage. But they were all far from causing Terror.»

NetMon's experience in tracking terrorist groups stems from its investigations into organised crime, child pornography and illegal gambling on the Inernet.

Some links between these groups may appear far fetched, but the web of communication can be unearthed, said Mr Rudolphi, by culling clues from the Internet protocol (IP) addresses and the homepages of suspects.

For instance, in a year-long investigation which started in 2001, NetMon managed to link the activities of a right-wing radical in Switzerland to former Iraqi dictator Saddam Hussein - from a simple Internet chatroom conversation.

It also exposed of a former director of a Switzerland-based financial services company who had links with terror mastermind Osama bin Laden.

By combining online and IRL (geek-speak for «in real live») research, Mr Rudolphi and his team managed to find out the radical's real name, the car he drove, schools he attended, workplaces, mobile phone number and even the wine he liked. Such information helped the authorities to take appropriate action.

Using a variety of hidden channels and hidden texts, terrorists have found creative ways to communicate with each other, including encrypting text within images and using unregistered cell phones.

«This makes it more difficult to locate them. And because messages can be sent around the globe, it can take months to find out who received them», said Mr Rudolphi, who is also the firm's chief investigator.

He said censorship and privacy issues complicate their investigations and force them to be more creative.

«In the last few months, a lot of new tools have been developed to protect online privacy. But these tools create new ways of communication which are almost impossible to trace and monitor», he said.

This calls for creativity on the part of cyber-security personnel because evidence obtained on the net cannot always be presented in court.

And the war on cyber-terrorism should not focus just on terrorists, as the methods of groups like child pornographers and organised crime groups offer insights into the subversive use of the web.

Mr Rudolphi added: «Luckily, at the moment, most terrorist organisations use the Internet as a communication tool and nothing else.

This could change, but until then, people need to be responsible and vigilant with their systems because the price one has to pay if protection falls will be high.»

Newspaper: The Straits Times
Country: Singapore
Date of issue: May 10, 2003

Bank of Guido + Spy-proof eMail: Taking KYC to a whole new level.

[Eastwind]

I don't get it.

First we invent BTC to sac the bankers.

Then we establish Bitcoin bank to give birth to new breeds of bankers.

Confused...

We can transmit BTC without banks or other money transmitters, that would save us money.

We can save BTC in banks to earn interest and borrow money (BTC) from banks.

BTC is not controlled by a central bank, that is the difference between BTC and fiat.

[Gleb Gamow]

I don't get it.

First we invent BTC to sac the bankers.

Then we establish Bitcoin bank to give birth to new breeds of bankers.

Confused...

We can transmit BTC without banks or other money transmitters, that would save us money.

We can save BTC in banks to earn interest and borrow money (BTC) from banks.

BTC is not controlled by a central bank, that is the difference between BTC and fiat.

"I don't trust banks. Never have, never will. That's why I mine bitcoins."


"I say fuck silver. Fuck gold. And sure as hell, double fuck fiat! You know that mountain over yonder? Guido's goin' store my bitcoins in that there mountain. You'll see!"

[redsn0w]

If I can say my opinion, bank is the worst thing in the bitcoin world. Because we are searching to run away from the centralization = the banks (or at least this is what I am thinking, and especially this is the concept or ideology) and they want to open a bitcoin bank.

[defcon23]

look's like this kind of approach .. with some updates for the fees... indeed  


overwise, remember that, one month ago :  
http://cointelegraph.com/news/114057/itbit-set-to-become-first-us-regulated-bitcoin-bank

[Gleb Gamow]

overwise, remember that, one month ago :  
http://cointelegraph.com/news/114057/itbit-set-to-become-first-us-regulated-bitcoin-bank

ItBit doesn't compare to the creator of ItItch. All ones has to do is simply view one of Guido's sites and your vitals are instantly known and logged, whereas at ItBit you'll have to fil out them pesky KYC forms. Besides, would you rather have your bitcoins stored in a bank where banks are robbed daily, or in a mountain where NOBODY has ever stolen a mountain?

[louise123]

Is there really a need for a Bitcoin bank?
I thought the whole purpose of Bitcoin is to avoid banks.
To be your own bank.