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Author Topic: BitBank is now in Beta  (Read 2790 times)
kjhd456
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May 17, 2011, 11:45:46 AM
 #1

To open an account PM me and I'll let you in.
Ill be taking a bitcent for every 10 BTC you deposit, and I'll take a bitnickel if you try to smartass your way out of it.
Loans will be available soon.

Sharecoin: SfMc4KVGzdsXyZiMtALCeVqAxynCGifWwY
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rebuilder
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May 17, 2011, 11:46:35 AM
 #2

Would you like to tell us why we'd want to give you our money?

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
carbonpenguin
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May 17, 2011, 12:38:14 PM
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Would you like to tell us why we'd want to give you our money?

I was wondering the same thing...
Drifter
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May 17, 2011, 12:43:23 PM
 #4

Ill be taking a bitcent for every 10 BTC you deposit, and I'll take a bitnickel if you try to smartass your way out of it.

 Roll Eyes Not even opened yet and already sounds like a banker. Well at least my bank tries to make me feel all warm and fuzzy before they let me know they're taking money out of my pocket. You sure are a class act.

sandos
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May 17, 2011, 12:49:58 PM
 #5

To open an account PM me and I'll let you in.
Ill be taking a bitcent for every 10 BTC you deposit, and I'll take a bitnickel if you try to smartass your way out of it.
Loans will be available soon.

Worst. Deal. Ever.

Smiley
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May 17, 2011, 12:53:33 PM
 #6

worst bank ever.
PIO
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May 17, 2011, 01:36:24 PM
 #7

If you're trying to create a service, try to be polite and informative about your service.
I cant believe how nonprofessional you sound, you'll never get my money, that's for sure!
edd
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May 17, 2011, 01:59:16 PM
 #8

Ill be taking a bitcent for every 10 BTC you deposit...

So I'd be paying you for the privilege of loaning my bitcoins out to someone else so you can collect interest?

Still around.
djex
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May 17, 2011, 02:08:56 PM
 #9

I don't see a need for a bitcoin bank. There is already a few sites out there that will hold your bitcoins anyways and are free.

Smiley  : 1LbvSEJwtQZKLSQQVYxQJes8YneQk2yhE3
barbarousrelic
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May 17, 2011, 02:16:55 PM
 #10

The three reasons people use banks are:

1. for safekeeping one's money

2. To earn money by lending it out, with the bank acting as an intermediary between lenders and borrowers

3. To act as a convenient clearinghouse for transactions (paycheck direct deposit, automatic water bill deduction, etc.)


Reasons 1 and 3 are, imho, unnecessary as they are already performed by the standard Bicoin software. I particularly don't see why anyone would pay you for 1. But these are legitimate services for which a bank would charge account-holders fees.

If you're acting as function #2, that is great, but those should be done with clearly identified separate accounts from the accounts used for 1 and 3, and the bank should pay the account holder, not the account holder paying the bank. With this type of account it should be clear to all parties involved that the money will not be available for withdrawal during the time it is being loaned out.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
luv2drnkbr
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May 17, 2011, 06:23:11 PM
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Nesetalis
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May 17, 2011, 06:28:52 PM
 #12

third example of this very same naive banking concept ive seen this morning... rednecks who want to make money :| go do a bit of book reading before you try to talk finances.
A) You do not mention a single service or offering.
B) you are rude about it.
C) you put up front that you are just out to make money off us, assraping our wallets without lube is a worthless endeavor.

ZOMG Moo!
Anonymous
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May 17, 2011, 06:30:38 PM
 #13

I just deposited 100 BTC. He told me he would keep it nice and safe in his cybero-3000 wallet CPU. Sounds legit to me.
RustyShackleford
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May 17, 2011, 08:46:13 PM
 #14

Generally the idea of banking is that the DEPOSITOR is the one getting paid, not the bank. Though with modern banking and today's fees I can see how one might think otherwise.
barbarousrelic
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May 17, 2011, 08:47:13 PM
 #15

You seem to be unable to understand that I cannot give out loans without any funding. I also would like to note that one bitcent for ten bit coins is a very low rate (0.1%) and does not apply to values less than 10BTC

Since you all seem so pessimistic, here's an incentive:
If you deposit at least 50 bitcents, than you will get a discount when loans go live.

I'm still working out the JavaScript, but a site will be up soon with accounts and so on.
What benefit or service do people get for depositing in your bank? People with bitcoins to deposit in a Bitcoin bank are not going to be the same people who desire to borrow bitcoins.  

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
vuce
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May 17, 2011, 08:49:07 PM
 #16

This sounds ridiculous.
lulzplzkthx
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May 17, 2011, 08:50:57 PM
 #17

You seem to be unable to understand that I cannot give out loans without any funding. I also would like to note that one bitcent for ten bit coins is a very low rate (0.1%) and does not apply to values less than 10BTC

Since you all seem so pessimistic, here's an incentive:
If you deposit at least 50 bitcents, than you will get a discount when loans go live.

I'm still working out the JavaScript, but a site will be up soon with accounts and so on.

What happens if I deposit 9.99 BTC... a lot of times... ?

kiba
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May 17, 2011, 08:51:01 PM
 #18

http://mybitcoin.com

Go there instead. It's free and they don't charge you a single fricking cent.

xf2_org
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May 17, 2011, 08:53:43 PM
 #19

http://mybitcoin.com

Go there instead. It's free and they don't charge you a single fricking cent.

How does MyBitcoin.com make their money?

Do we know that MyBitcoin is not fractional reserve?

nanotube
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May 17, 2011, 09:06:31 PM
 #20

http://mybitcoin.com

Go there instead. It's free and they don't charge you a single fricking cent.

How does MyBitcoin.com make their money?

Do we know that MyBitcoin is not fractional reserve?

1. they claim they make their money from ads on the site, last i looked.

2. you don't, other than trusting their word for it.

nb: i don't use mybitcoin, and wouldn't really want to put any significant amount of bitcoin on any third-party site.

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