Neo & Bee world first bitcoin bank about to launch in Cyprus tomorrow.

[Skoupi]

So another online wallet service. I wonder how long before they get hacked

I really hope for them to be as good in security as they are on marketing.

And for all services that are dealing with our private keys, i mostly worry about them getting "hacked" than hacked... 

[Coinster]

So another online wallet service. I wonder how long before they get hacked

They are more than an online wallet service from my understanding.

They're more of a complete financial network. Cyprus is small enough that they can provide wide coverage for merchant services. I think many merchants are interested. So the Cypriots will be able to set up an account, with a familiar bank like setting, get a card, and easily buy from merchants.  In theory they can use convenient high tech money management, but the money is now independent of government and banks. It can't be seized, and instead will probably provide increased purchasing power. It's the opposite of what they have now, and is apparently govt. approved.

[Abdussamad]

So another online wallet service. I wonder how long before they get hacked

They are more than an online wallet service from my understanding.

They're more of a complete financial network.
<snip>

So they are like bips.me? We've been down this road before. Offering complete merchant services does not mean that your online wallet service is magically more secure.

Sorry, for the snipping. Sounded like dogma to me.

[Tirapon]

http://www.reddit.com/r/Bitcoin/comments/1mr91m/i_am_the_ceo_of_neo_the_bee_payment_network_in/

There was a lot of hype surrounding NEOBEE when they first launched - you could buy shares on the now no longer operational Bitfunder - I actually read over their company profile and remember being fairly impressed - enough so that I bought some shares. I forgot about them until Bitfunder closed down, and NEOBEE did a great job of migrating the shares to a new platform (their own platform I believe).

Nice to see they are ready to launch, I look forward to seeing how things go. I'm also quite keen to have one of those Bee cards in my wallet...

[trek27]

This sounds promising!  Is this going to be available to any person to join, or specifically those who live in Cyprus?

They plan to expand services to all EU countries through partnerships. But I'm not aware of any specific schedule.

[huadylmate]

I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?

Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.

But you wont be able to touch your funds neighter without Neo & Bee, so basically your Bitcoins will be not usable if you will not agree with something like 10% tax of your Bitcoin ballance, if there will be such Cyprus law in future for example

[runam0k]

I thought bitcoin was a payment framework in itself. Why would anyone entrust their coins to a bank?

Because they will use M of N private keys so they technically won't be able to touch your funds without your approval meaning the government and other banks won't be able neither.

But you wont be able to touch your funds neighter without Neo & Bee, so basically your Bitcoins will be not usable if you will not agree with something like 10% tax of your Bitcoin ballance, if there will be such Cyprus law in future for example

Not according to the marketing materials - customers can use their bitcoins even if Neo disappears.

[Lauda]

So another online wallet service. I wonder how long before they get hacked

This is not correct. They provide assurance to your money/coins if I'm correct.
They aren't just 'another' wallet service.

[rmines]

There also isn't a single online wallet that I know of that has a bricks & mortar office.