Post
Topic
Board Bitcoin Discussion
Re: Could the bitcoin community start its own bank?
by
caga
on 07/01/2015, 16:18:22 UTC
Just wondering what would be involved in founding a new bank that's friendly towards the interests of bitcoiners. Of course you'd still be dealing with the problems of having to trust a bank, but at least it would be better than trusting the big banks that are always closing bitcoin-related accounts. I'm just talking about a bank that would be willing to open business accounts for bitcoin traders, and where you wouldn't have to worry about telling them you're using your account for buying and/or selling cryptos.

How much capital would it take to start a small bank or credit union along these lines? Which country would it make sense to try it in, if any?

Having a bitcoin bank would be a risk , and it will be against the decentralized nature of bitcoin.