382 BITCOIN ITS ENOUGH TO OPEN MY OWN BANK?

[MARCUS0000]

Ok....let's clarify some concepts here.
Having the "money", either crypto or fiat, it's of course the best option and you can run the show on your own if you wish to do so.
However, regardless the name you wanna use, bank, financial institution, payment processor, initial payment processor, gateway....well, the basic requirement it's common to all of 'em: you need a LICENSE!
What differs, it's the amount of "paperwork" (read manuals) and minimium capital requirement you have to satisfy.
The fact you don't wanna look into a brick and mortar bank, it's ok...you'll save a lot of money in infrastructure.
And the fact you wanna, eventually, consider a different type of license, let say the Panama FSC one just as an example, it's ok as well since you'll be investing between 25 and 100K, depending you wanna have the SWIFT access as well.
Therefore, way below the required millions of euro/usd for a traditional institution.
However....this is just the beginning of your proecess and the easiest issue to be solved.
The real problems will arise in the moment you'll be looking around for a "nostro conto" at any given place in the globe for your "crypto bank".
Without one or more correspondent bank, how would you guarantee the payments and the flow of transactions for your customers located in different part of the globe or just in two contiguous countries?
The problem for setting up such type of institution, regardless their magnitude, is always the same....relationships.
Beside the small or big amount of bitcoins/altcoins you're sitting on...do ho have this type of relationships?
If the answer is yes....well, why waiting? Just toss a smal portion of crypto and get the less expensive license you can achieve and keep the rest as liquidity.
Your network would do the rest for you either you'll have a call A bank license issued in any major country or a license granted in Vanuatu.
If the answer is no....well, you better start thinking about a plan B and eventually be supported by somebody, law firm but not necessarily even though at the end they'll be needed, that knows the "how to" in few jurisdictions where your dream can become reality.
Remember....everybody, nowaday, is looking for crypto friendly banks or an exchange that can guarantee liquidity between crypto and fiat.
Succeeding in this goal, means tons of money!!
Something is doable by using the blockchain and can become a REALLY interesting project for a lot of reason.
But again, you and your advisors should know where to put the hands.
Should you be REAL, as a base for discussions, and should your interest be 100% in this project, contact me if you want.
We don't have those bitcoin you have but we know the "how to".
But please...don't waste your and my time...no need for both of us.
Only suggestion, move before you treasure would deplets as a consequence of value depreciation.
Best wishes

do you already have a team?

[1713999886]

1713999886

[1713999886]

1713999886

[1713999886]

1713999886

[1713999886]

1713999886

[seoincorporation]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

Decentralized Bank, two opposite words, is like talk about cold fire... Let's define a bank:

A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

So, a bank can't be decentralized while it's regulated by authorities.

And Talking about the capital you need to open a bank, from this article https://www.huffingtonpost.com.mx/entry/how-to-start-your-own-ban_n_497261 you can find:

Code:

Generally banks need about $12 to 20 million in capital to get started

So, while 382btc is equal to $3.2M then the answer is "Not Now". For that you need bitcoin at $32,000 to open a bank with that amount.

The good news is you can run other big projects with that amount, like an exchanger or a casino.  

[Hcarsan]

At this stage of industry development, even banks can´t offer cryptobanking.  The interface architecture and jurisdictional agreements are not in place yet.  That´s why you see Exchanges, Trading and Lending Platforms, or a combination of these three operating, but not banks.  You have sufficient funds to develop and/or invest with a development group.  Many have posted...some show in-depth knowledge and experience, but your best bet is to develop locally and personally.  Its too easy to cheat Online.  Besides, you have already revealed your secret.  Transparency is good, but not up front.  My suggestion is you go to a local tech startup accelerator, present yourself as an angel investor, and request vetted offers ready to launch in need of capital.  In the meantime, try to diversify your cryptocurrecies, there are plenty of excellent projects launching ICOs to chose from.  Good luck and keep growing.

[dimitriaustralia]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

Check out www.bitcoinblack.cash
Do you want to be involved or anything you would like to see?

[dimitriaustralia]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

You could own the distribution of bitcoin black cards and take fees and yearly subscriptions on them!
Have standard and metal versions with different withdrawal limits.
You could even embed diamonds into some.

[CoinFlipKing]

A traditional bank makes money by acting as an intermediary between savers (who make deposits) and borrowers. The model is such that as long as the bank maintains enough liquidity to meet withdrawal demand they can lend out the rest and earn more interest than what they pay savers for deposits (interest spread). This traditional model is likely to deteriorate in the digital economy because savers won't need the deposit services banks offer (checking accounts in particular). For instance, a modified Nano S hardware wallet with a NFC chip could replace a checking account and debit card and even things like Apple Pay.

So if consumers don't need deposit accounts, a bank can't lend out those people's money and profit from an interest spread. This is where decentralized lending platforms come on the scene because the demand for loans won't go away. I think there is opportunity however for a modified banking model where maybe you charge a fee for managing a portfolio of loans users fund in return for a management fee. You could also charge a fee for liquidity services so people could access cash prior to a loan maturing. There's a number of ways that could work but one would be to make them a low interest loan, using their outstanding loans/cash flow as collateral.

Regardless, 400 BTC is quite a bit and you could def start a business with that, but if you want to start a bank, try to think about how fin institutions will be different in the new economy. Maybe you don't think it looks like what I've described above, but that's just a scenario to get you thinking about how to model something in anticipation of changes to the market's structure.

Best of luck!

[Bytextech]

Hi, there are 2 important questions in what region are going to have a 'bank' and what type of services you would like to offer?
For example, to manage consumer funds you must have a license, in UK this type of license is PI, if your turnover is less them 3,000,000 GBP, you may apply for authorized PI.

Its "neobank" license, you can do a lot but not LENDNING or BROKERAGE, its good for fintech startups.

The second part - working with crypto you must have valid partner to arrange exchange issues and KYC, if not going to handle exchange part internally.

Then you must have a VISA or Mastercard membership to be able to issue cards by your own  ±200-400k.

To get correspondent account in USD is quite harder, mind that.

Dont forget about back office and marketing expenses, risks, taxes.

It should be legal business only.


Take care.

[cz75]

Ok....let's clarify some concepts here.
Having the "money", either crypto or fiat, it's of course the best option and you can run the show on your own if you wish to do so.
However, regardless the name you wanna use, bank, financial institution, payment processor, initial payment processor, gateway....well, the basic requirement it's common to all of 'em: you need a LICENSE!
What differs, it's the amount of "paperwork" (read manuals) and minimium capital requirement you have to satisfy.
The fact you don't wanna look into a brick and mortar bank, it's ok...you'll save a lot of money in infrastructure.
And the fact you wanna, eventually, consider a different type of license, let say the Panama FSC one just as an example, it's ok as well since you'll be investing between 25 and 100K, depending you wanna have the SWIFT access as well.
Therefore, way below the required millions of euro/usd for a traditional institution.
However....this is just the beginning of your proecess and the easiest issue to be solved.
The real problems will arise in the moment you'll be looking around for a "nostro conto" at any given place in the globe for your "crypto bank".
Without one or more correspondent bank, how would you guarantee the payments and the flow of transactions for your customers located in different part of the globe or just in two contiguous countries?
The problem for setting up such type of institution, regardless their magnitude, is always the same....relationships.
Beside the small or big amount of bitcoins/altcoins you're sitting on...do ho have this type of relationships?
If the answer is yes....well, why waiting? Just toss a smal portion of crypto and get the less expensive license you can achieve and keep the rest as liquidity.
Your network would do the rest for you either you'll have a call A bank license issued in any major country or a license granted in Vanuatu.
If the answer is no....well, you better start thinking about a plan B and eventually be supported by somebody, law firm but not necessarily even though at the end they'll be needed, that knows the "how to" in few jurisdictions where your dream can become reality.
Remember....everybody, nowaday, is looking for crypto friendly banks or an exchange that can guarantee liquidity between crypto and fiat.
Succeeding in this goal, means tons of money!!
Something is doable by using the blockchain and can become a REALLY interesting project for a lot of reason.
But again, you and your advisors should know where to put the hands.
Should you be REAL, as a base for discussions, and should your interest be 100% in this project, contact me if you want.
We don't have those bitcoin you have but we know the "how to".
But please...don't waste your and my time...no need for both of us.
Only suggestion, move before you treasure would deplets as a consequence of value depreciation.
Best wishes

do you already have a team?

Hi Marcus,
if you mean in terms of developing team, the answer is yes...we are an IBM blockchain business partner and we already develop banks/financial institutions dedicated blockchain products. If you meant for the banking side, we are a licensd financial company already but for this type of project, should a SERIOUS partner arises out, we're definitely open to integrate other stakeholders.

[scriptdaddy]

Ok....let's clarify some concepts here.
Having the "money", either crypto or fiat, it's of course the best option and you can run the show on your own if you wish to do so.
However, regardless the name you wanna use, bank, financial institution, payment processor, initial payment processor, gateway....well, the basic requirement it's common to all of 'em: you need a LICENSE!
What differs, it's the amount of "paperwork" (read manuals) and minimium capital requirement you have to satisfy.
The fact you don't wanna look into a brick and mortar bank, it's ok...you'll save a lot of money in infrastructure.
And the fact you wanna, eventually, consider a different type of license, let say the Panama FSC one just as an example, it's ok as well since you'll be investing between 25 and 100K, depending you wanna have the SWIFT access as well.
Therefore, way below the required millions of euro/usd for a traditional institution.
However....this is just the beginning of your proecess and the easiest issue to be solved.
The real problems will arise in the moment you'll be looking around for a "nostro conto" at any given place in the globe for your "crypto bank".
Without one or more correspondent bank, how would you guarantee the payments and the flow of transactions for your customers located in different part of the globe or just in two contiguous countries?
The problem for setting up such type of institution, regardless their magnitude, is always the same....relationships.
Beside the small or big amount of bitcoins/altcoins you're sitting on...do ho have this type of relationships?
If the answer is yes....well, why waiting? Just toss a smal portion of crypto and get the less expensive license you can achieve and keep the rest as liquidity.
Your network would do the rest for you either you'll have a call A bank license issued in any major country or a license granted in Vanuatu.
If the answer is no....well, you better start thinking about a plan B and eventually be supported by somebody, law firm but not necessarily even though at the end they'll be needed, that knows the "how to" in few jurisdictions where your dream can become reality.
Remember....everybody, nowaday, is looking for crypto friendly banks or an exchange that can guarantee liquidity between crypto and fiat.
Succeeding in this goal, means tons of money!!
Something is doable by using the blockchain and can become a REALLY interesting project for a lot of reason.
But again, you and your advisors should know where to put the hands.
Should you be REAL, as a base for discussions, and should your interest be 100% in this project, contact me if you want.
We don't have those bitcoin you have but we know the "how to".
But please...don't waste your and my time...no need for both of us.
Only suggestion, move before you treasure would deplets as a consequence of value depreciation.
Best wishes

do you already have a team?

Hi Marcus,
if you mean in terms of developing team, the answer is yes...we are an IBM blockchain business partner and we already develop banks/financial institutions dedicated blockchain products. If you meant for the banking side, we are a licensd financial company already but for this type of project, should a SERIOUS partner arises out, we're definitely open to integrate other stakeholders.

i see your sign but i cant site a website ? why not provide a website   cz75
thanks

[larks500]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

The most important question for what exactly do you need the bank, what will it do, how to earn, how to manage risks, where you will attract additional financing, etc.
I think that only after this analysis you can decided how much money you need.

[MCVXYZ]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

First of all you need to define what does it mean 'bank' for you.Banking system is a very difficult and its not as easy as it seems,you need good  plan and another investors,employees,If i were in your place I would understand every institutional and financial regulations about it...
Its also important to define your financial activity in detail and create business plan,read more about norms promulgated by your country's national/federal bank.For example in my country if you want to create bank you must buy special licence which costs million dollar if not more.
But it sounds a bit antagonistic because as I know if you want to start this job you must create firm like joint-stock company or LLC how would it be decentralized when you will have legal duty to send your financial statistics and documents to the central bank, so I don't know maybe I'm wrong...

[bitcoinfuck]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

count me in

[moynul2050]

you must have a great community to realize your dreams.
I think your money is enough to build a bank.

[bitcoinbred]

The question is why ?

Running a bank is a pain in the behind - lots of reasons why above.

If you're in it to grow your wealth, there are better businesses. I can't imagine you want to do it for the "goodness" of running a bank - 'cos there's none

[Cobalt9317]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

It takes more than a month to established a business in bitcoin system banking.
There's a lot of things you have to prepare first.
here is the list of the things I think you need to look in consideration.

• Place

Is the place a capital city? You need to make a lot of audience to make your bank well known.

• Lawyer

legal consent and other jurisdictional issue regarding Bitcoin

• Programmer

A developer need to put heart in your system.


You can start with the programmer first as the foundation of the system so there will be no issue before you execute your banking system to masses.

P.S You can start a centralized bank and accept payments in decentralize currency

[scriptdaddy]

I always wanted to open my own crypto bank , finaly i m ready to do it , if you have 382 bitcoin and your only dream its to open your own bank what will be your ideas? Is it possible to build  a decentralized bank?

It takes more than a month to established a business in bitcoin system banking.
There's a lot of things you have to prepare first.
here is the list of the things I think you need to look in consideration.

• Place

Is the place a capital city? You need to make a lot of audience to make your bank well known.

• Lawyer

legal consent and other jurisdictional issue regarding Bitcoin

• Programmer

A developer need to put heart in your system.


You can start with the programmer first as the foundation of the system so there will be no issue before you execute your banking system to masses.

P.S You can start a centralized bank and accept payments in decentralize currency

I like This idea

[dimitriaustralia]

3.6 Billion coins allocated to social rewards.
Easy to use social share rewards platform coming, share the airdrop through the dash and be rewarded!

[chalbinov]

It sounds like you could be doing something a lot more stable and promising than a decentralized crypto bank. I don’t want to knock your entrepreneurial spirit; it does take huge risks to make considerable gain. It just seems that with the amount you have and the position you are in (asking for advice here) isn’t in line with your idea. The right person to do this would be someone who wouldn’t even flinch if they lost that amount, and probably easily willing to invest more than that in such a volatile project. If you would be in a bad place after the strong possibility of losing it all, I would seriously rethink your investment choices. 

[frompublic]

huge money to open a bank

[MARCUS0000]

I was think you need something like bankera ?