Bitcoin Bank

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Sultan:
I don't understand how that would be useful. Once a coin is spent, it cannot be re-spent, right?

Stephen Gornick:
Quote from: Sultan on January 17, 2011, 08:42:55 PM

Quote from: FreeMoney on January 17, 2011, 08:33:44 PM

They could let you upload a wallet file and spend from that. Then you could lock away your own copy as your own backup so you don't have to trust them solely.


I don't understand how that would be useful. Once a coin is spent, it cannot be re-spent, right?


While the bank would have access to the funds, they couldn't move them without you being able to know that they did.  With eWallet providers today there's no way to audit that they really do have your bitcoins ("all of their deposits") held in reserve:
  https://en.bitcoin.it/wiki/EWallet

Having a local copy of that same wallet gives you only a little more control because if at any time you want to spend that wallet, you aren't dependent on that service and they cannot stop you from sending your bitcoins from your wallet under their control to somewhere else.

But you are correct -- having a local copy of your wallet won't help you whatsover if they disappear overnight after transferring the funds from all the customer wallets all at once

wobber:
This is what I'd like BitcoinBank to do:

Services:
People deposit their bitcoins into accounts (login by username and maybe software token, if possible - even hardware).
Tax should be something 1% per year but i have no idea how to prevent people to add just 100 BTC when they open the account (tax 1BTC) and then add the next day another 10.000 BTC. One option could be to tax 1% per added bulk.
The wallet.dat holds all clients' bitcoins and the database hold sthe amount each is entitled to.
24-7 online banking for adding and withdrawing funds and payment intermediary.
Selling gold, silver, USD, EUR, GBP and other currencies on demand.
Selling virtual credit cards from multiple banks, in multiple currencies.
Escrow services.
Wallet-lock options. Allows transfer of less than the amount set up by the user per day/week etc. Also one idea i have is a amount-protected lock, you can't move funds from your account to another bitcoin address unless you remember the passsum, ie: 255.78 BTC (might be useful for paranoids that need more layers of security)
Credits, based on trust. Dunno how to implement this yet.
Investment fund. Dunno if to implement this and how.
Also I dream of having the bank physically, with safe deposit boxes, maybe even microcip cards and all :D


At least two servers on different, secure, locations. Encryption in case of theft.
IDS and IPS with good sysadmins
Tor and I2P anonimity.
Gold, silver, bitcoin, USD, EUR and GBP reserve (might add chinese Yuan too)
at least these bitcoinbank domains: .eu, .com. org, .net, .biz to avoid scams
SSL certificate and GnuPGP keys

Sultan:
Quote from: wobber on January 17, 2011, 10:02:32 PM

This is what I'd like BitcoinBank to do:

Services:
People deposit their bitcoins into accounts (login by username and maybe software token, if possible - even hardware).
Tax should be something 1% per year but i have no idea how to prevent people to add just 100 BTC when they open the account (tax 1BTC) and then add the next day another 10.000 BTC. One option could be to tax 1% per added bulk.
The wallet.dat holds all clients' bitcoins and the database hold sthe amount each is entitled to.
24-7 online banking for adding and withdrawing funds and payment intermediary.
Selling gold, silver, USD, EUR, GBP and other currencies on demand.
Selling virtual credit cards from multiple banks, in multiple currencies.
Escrow services.
Wallet-lock options. Allows transfer of less than the amount set up by the user per day/week etc. Also one idea i have is a amount-protected lock, you can't move funds from your account to another bitcoin address unless you remember the passsum, ie: 255.78 BTC (might be useful for paranoids that need more layers of security)
Credits, based on trust. Dunno how to implement this yet.
Investment fund. Dunno if to implement this and how.
Also I dream of having the bank physically, with safe deposit boxes, maybe even microcip cards and all :D


At least two servers on different, secure, locations. Encryption in case of theft.
IDS and IPS with good sysadmins
Tor and I2P anonimity.
Gold, silver, bitcoin, USD, EUR and GBP reserve (might add chinese Yuan too)
at least these bitcoinbank domains: .eu, .com. org, .net, .biz to avoid scams
SSL certificate and GnuPGP keys



This sounds like an interesting idea. I still don't believe a charge should be incurred on the depositor as I believe the cost of securing BitCoins is almost negligible, or at least something that can be recompensed with AdSense or something.

FreeMoney:
Quote from: Sultan on January 17, 2011, 08:42:55 PM

I don't understand how that would be useful. Once a coin is spent, it cannot be re-spent, right?


My suggestion was not to act as a backup but to have old address that you have set up (a static donation address, permanently associated with accounts etc) go automatically to the bitcoinbank. Plus if you lost contact with the site you could use your copy of the wallet to spend.

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