23 Oct '12, 12am

How To Create A Sustainable #Bitcoin Bank by Fred Wilson < Read the first comment by Michael Bliss: HE 100% GETS IT.

The result is a super simple business model. My Bitcoin Bank would charge a very low monthly fee per Bitcoin deposited and nothing else other than pass alongs for any costs incurred in moving bitcoins in and out of the bank on behalf of our customers. We would not have any branches. We would operate via simple, easy to use mobile and web interfaces. We would keep our operating costs super low with the exception of one area where we would make a large and ongoing investment - in hiring and retaining a top notch and super experienced security team. We would allow third parties to create related businesses on top of our API. Services like lending, investing, etc would not be provided by our bank but by third parties who access our customers via our API.

Full article: http://www.businessinsider.com/how-to-be-in-business-fore...

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