Quote from: casascius on March 31, 2011, 05:49:23 AM

Quote from: CajunTechie on March 31, 2011, 04:58:34 AM

Has anyone considered the possibility of establishing a Bitcoin Credit Union? It would operate much like a traditional bank might except the account holders would have dividends paid to them quarterly. It would be a way for everyone to make a few extra Bitcoins and also contribute to the welfare of the community in that there would be a loan aspect to it.

What do you think? Could it work? Would you join?

The only question I would have is, what is there for sale that someone would want to borrow money in order to buy?

Well, I would imagine they might borrow money for all of the things they currently borrow money for. They would use the credit union instead of a traditional bank because 1) the credit union might offer a lower interest rate and 2) it might offer higher dividends to members than their local CU does.

Other than that, it might operate very similar to a traditional fiat based CU.