BTC banking online

[davout]

Hello all !

Posting here for one of the first times, got really interested in the whole bitcoins community a little less than a month go.

As always when I discover something interesting I feel the urge to develop something revolving around it using the wonderful Rails framework.

So I've started developing something that would look like MyBitcoin but having in sight to add lots of interesting features and try out some economic models...

Features I'dd like to add :
 - Improved address books and transfers to e-mail addresses
 - Interfaces with other bitcoin services
 - Open and powerful API for other services and merchants
 - Facebook integration (that would be opt-in )
 - More generally speaking, enable people without any bitcoin knowledge or curiosity to open an account

Economic models that could be interesting :
 - Interest for your deposits
 - {insert interesting idea here}

So what I'm posting here for is basically :
 - Gathering interesting ideas and comments from the community
 - See if it would be a smart move to open the code in order for anybody to look for security breaches and therefore harden the bank safe

[1715451887]

1715451887

[1715451887]

1715451887

[1715451887]

1715451887

[davout]

Set up a project at github or SourceForge, and you'll attract interest.

GitHub project exists just wondering whether i should make it public.
As for the interests i don't know, looking for ideas here and there

[davout]

I thought of an interesting business model for a bticoin bank without getting in the loaning-currency-to-anonymous-borrowers problem.

How about implementing some easy to setup bitcoin checkout mechanism for merchants that are interested in dollars, and not bitcoins.

The merchant specifies a certain USD, or any other currency for the matter, he wishes to be paid, the interface converts it in a certain bitcoin amount which is charged instantly from the bitcoin account balance (without the need to wait for transaction confirmation times).

The merchant gets credited a certain amount of USD/EUR/whatever which is bought by trading the charged bitcoins on the market.

The profit margin coming from the specific rate that is computed by the platform to be very slightly lowerthan the rate the bank thinks it can actually sell bitcoins for on the regular market.

Easy for merchants to setup, easy and instant for customers to pay with, painless if charges are kept reasonable, something like 0.1% of the amount.

[Anonymous]

I thought of an interesting business model for a bticoin bank without getting in the loaning-currency-to-anonymous-borrowers problem.

How about implementing some easy to setup bitcoin checkout mechanism for merchants that are interested in dollars, and not bitcoins.

The merchant specifies a certain USD, or any other currency for the matter, he wishes to be paid, the interface converts it in a certain bitcoin amount which is charged instantly from the bitcoin account balance (without the need to wait for transaction confirmation times).

The merchant gets credited a certain amount of USD/EUR/whatever which is bought by trading the charged bitcoins on the market.

The profit margin coming from the specific rate that is computed by the platform to be very slightly lowerthan the rate the bank thinks it can actually sell bitcoins for on the regular market.

Easy for merchants to setup, easy and instant for customers to pay with, painless if charges are kept reasonable, something like 0.1% of the amount.

So....people pay in bitcoins for the product they want and the merchant gets the dollars? I already do that with Amazon. Someone pays me in bitcoins and I buy the product for them....

I havent automated anything yet of course. The ultimate thing would be if you could suck in all of amazons products and convert the prices to bitcoins and let the customer check out without needing to go to amazon itself. Then the site would order the products and amazon would receive dollars and do the fulfillment.

[davout]

I thought of an interesting business model for a bticoin bank without getting in the loaning-currency-to-anonymous-borrowers problem.

How about implementing some easy to setup bitcoin checkout mechanism for merchants that are interested in dollars, and not bitcoins.

The merchant specifies a certain USD, or any other currency for the matter, he wishes to be paid, the interface converts it in a certain bitcoin amount which is charged instantly from the bitcoin account balance (without the need to wait for transaction confirmation times).

The merchant gets credited a certain amount of USD/EUR/whatever which is bought by trading the charged bitcoins on the market.

The profit margin coming from the specific rate that is computed by the platform to be very slightly lowerthan the rate the bank thinks it can actually sell bitcoins for on the regular market.

Easy for merchants to setup, easy and instant for customers to pay with, painless if charges are kept reasonable, something like 0.1% of the amount.

So....people pay in bitcoins for the product they want and the merchant gets the dollars? I already do that with Amazon. Someone pays me in bitcoins and I buy the product for them....

I havent automated anything yet of course. The ultimate thing would be if you could suck in all of amazons products and convert the prices to bitcoins and let the customer check out without needing to go to amazon itself. Then the site would order the products and amazon would receive dollars and do the fulfillment.

That would be incredibly cool.
Even cooler, it kindof sounds doable

[davout]

Hey,

if anyone is interested in the source code i published my github repo at :

http://github.com/davout/bitcoin-bank

Feel free to watch/fork (and send me some patches )