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Author Topic: Bitcoin Bank  (Read 2498 times)
bitcoininnj
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June 28, 2011, 04:28:27 PM
 #1

This looks promising.... Flexcoin.com
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CalumMc
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June 28, 2011, 04:32:17 PM
 #2

Quote
not to mention there’s not currently a way to access bitcoins from a mobile device.

what about mybitcoin?
bitcoininnj
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June 28, 2011, 04:35:51 PM
 #3

Paid Interest rates.

Even so, the more the better.
Competition weeds out the weak, and makes others stronger.

zpinto
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June 28, 2011, 04:45:53 PM
 #4

Website looks good!
finnthecelt
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June 28, 2011, 04:59:01 PM
 #5

Who are they? What do we know about them?
aral
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June 28, 2011, 05:07:05 PM
 #6

Who are they? What do we know about them?

The domain is registered to this guy:

Wehbe, Roger  *********@yooter.com
      Yooter
      One South Second Street
      Pottsville, PA  17901
      US
      610-762-2156

His office appears to be located above Pottsville Parking Authority.
Longmarch
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June 28, 2011, 05:09:07 PM
 #7

Who are they? What do we know about them?

Nothing is know, it seems.  But so far we have collectively been pretty good about making everyone run the gauntlet.  Hopefully this continues.  Scammers manipulators and the like will try everything.  

Longmarch
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June 28, 2011, 05:10:32 PM
 #8

Who are they? What do we know about them?

The domain is registered to this guy:

Wehbe, Roger  *********@yooter.com
      Yooter
      One South Second Street
      Pottsville, PA  17901
      US
      610-762-2156

His office appears to be located above Pottsville Parking Authority.

Underlines my point: we've been good at checking everything out and publicizing what we can find.  My other point though is that I hope this continues.

Elwar
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June 28, 2011, 05:12:52 PM
 #9

Umm...it says it will pay interest on your account but where does it talk about loaning out bitcoins in order to make money to pay that interest?

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julz
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June 28, 2011, 05:14:47 PM
 #10

Who are they? What do we know about them?

This was my first thought.  I always distrust a site that won't give at least some basic info such as the company name.
What a cheek to call themselves a 'bank' whilst withholding that.


@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
Findeton
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June 28, 2011, 05:18:28 PM
 #11

It looks fishy to me. Be careful.

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bitcoininnj
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June 28, 2011, 05:39:25 PM
 #12

Umm...it says it will pay interest on your account but where does it talk about loaning out bitcoins in order to make money to pay that interest?

I thought the same thing. Perhaps they trade Bitcoins... but you need a lot of capital on hand in case of losses.
If they develop a reliable system to exchange Bitcoins easily, they could charge for the transactions, such
as Paypal.

Also, is it good or bad this person(s) is in the US? There are some pretty tough rules just to call yourself a bank.
Hopefully the due diligence has been done.
finnthecelt
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June 28, 2011, 05:58:05 PM
 #13

Well congrats on finding me.  Most likely you did a Google search for my name…   Which is perfectly fine.
 
Here are a few things you most likely want to know about me.
 
I am President and CEO of Yooter InterActive Marketing http://www.yooter.com (hence the joke of a theme I have running on this site).
 
I live in Pottsville, PA.
 


http://rogerwehbe.com/


edit: addtnl info: My company is located there.
 
I am 34, my degree is in International Business with a minor in computer information systems.
 
you can reach me anytime at president at yooter period com

Have a great day!
qualia8
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June 28, 2011, 06:07:37 PM
 #14

not exactly the buttoned-down, confidence-inspiring, banker image to which i am accustomed.
finnthecelt
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June 28, 2011, 06:08:52 PM
 #15

I always wonder how any company that pays interest gets the money to PAY that interest....?

Quote
we pay interest on a positive bitcoin balance at the end of each month.

So are they charging a holding fee or a transaction fee? Might be important to know. Can only join with an invite? Do you have to be screened to be sufficiently dupable or what?
finnthecelt
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June 28, 2011, 06:13:02 PM
 #16

not exactly the buttoned-down, confidence-inspiring, banker image to which i am accustomed.

You don't think he looks powerful in his Might Mouse t-shirt?

dennis_sweden
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June 28, 2011, 06:19:05 PM
 #17

finnthecelt the founder

I posted this question in another thread (http://forum.bitcoin.org/index.php?topic=21615.0;all)

How will flexcoin use the Bitcoins? The FAQ does not give any information on this subject. What safeguards are there against flexcoin making bad investments and being unable to give deposits back? I am not accusing flexcoin of operating any scam - however, further information would be useful to understand how flexcoin operates.

How can you tell when a politician is lying? His lips are moving. A little girl asked her father, 'do all fairy tales begin with "Once upon a time"? The father replied, 'No, some begin with - If I am elected.' How come political leaders don't have all the answers until they write their memoirs?
MoonShadow
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June 28, 2011, 06:20:39 PM
 #18

finnthecelt

I posted this question in another thread (http://forum.bitcoin.org/index.php?topic=21615.0;all)

How will flexcoin use the Bitcoins? The FAQ does not give any information on this subject. What safeguards are there against flexcoin making bad investments and being unable to give deposits back?

None whatever.  Proceed with caution.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
finnthecelt
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June 28, 2011, 06:23:50 PM
 #19

First Bitcoin Bank now taking Invites | Flexcoin


June 27, 2011

The world’s first Bitcoin Bank, Flexcoin.com is now taking invites for people to use it’s banking services for bitcoins.
 
It’s scheduled for a July 1st, 2011 launch, but already some people are able to use the service via invite only. It’s being allocated on a per request basis as room is made available and the infrastructure is being built out.
 
The new design of the site was launched a few hours ago and it’s receiving positive response in terms of usefulness and eye appeal.
 
The invite only process was selected to stagger the growth to accommodate security related issues to ensure that everyone’s coins are safe as well as work out any potential bugs in the system (hence it’s limited rollout).

Demand for the Bitcoin bank is staggering as company officials are being inundated with requests for the service. The bank doesn’t expect any issues, however it’s better to be safe than sorry.
 
Feel free to put yourself on the invite list


http://www.tribbleagency.com/?p=8102
finnthecelt
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June 28, 2011, 06:27:43 PM
 #20

"This is also the first Bitcoin wallet that pays interest, as it mines for coins and distributes them to account holders with a positive balance. The project is currently in alpha and asks visitors to return to the site by July 1st to view its progress."

via PSFK: http://www.psfk.com/2011/06/flexcoin-the-first-online-bitcoin-bank.html#ixzz1Qb3TyejJ


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