Re:Sen. Manchin demands complete US ban on Bitcoin
by smtddr on Wednesday February 26, 2014 @05:00PM
(#7308327)
Sure I could do that. That's how I ended up with a Honda Civic. I can also ask my friends if they like Bank Of America or CitiBank or whatever; but to truly understand the health of a bank... I'd need a degree or something.
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Re:Sen. Manchin demands complete US ban on Bitcoin
by drcode on Wednesday February 26, 2014 @05:05PM
(#7308373)
No, you just go to a bank that maintains 100% fractional reserves (if you don't wan't to take on additional risk)
No degree required.
Re:Sen. Manchin demands complete US ban on Bitcoin
by smtddr on Wednesday February 26, 2014 @05:38PM
(#7308674)
Easier said that done apparently... http://www.ronpaulforums.com/showthread.php?148961-Any-Full-...
I'm having trouble understanding how such a bank would be profitable; assuming banks need to be profitable to justify their existence.
Re:Sen. Manchin demands complete US ban on Bitcoin
by drcode on Wednesday February 26, 2014 @07:36PM
(#7309406)
They're not profitable because of the existence of fdic insurance.
Re:Sen. Manchin demands complete US ban on Bitcoin
by dragonwriter on Thursday February 27, 2014 @02:53PM
(#7314542)
> They're not profitable because of the existence of fdic insurance.
Even without FDIC insurance a bank with 100% fractional reserve couldn't be profitable (or even operate), unless accounts had negative interest rates, as it couldn't loan money out from deposits to earn revenue.