Should we reconsider using the word "Bank"?

[merockstar]

Maybe one day "bank" will be an archaic little word we all laugh about.  Like, "Remember when we used those silly things called banks? How stupid were we?"

It's good to see you loitering on the forums more :)

[lucky331]

Maybe one day "bank" will be an archaic little word we all laugh about.  Like, "Remember when we used those silly things called banks? How stupid were we?"

"i know right?  they were using our own money to get our money.."

[xeroc]

Maybe one day "bank" will be an archaic little word we all laugh about.  Like, "Remember when we used those silly things called banks? How stupid were we?"

+5%

[MktDirector]

Maybe one day "bank" will be an archaic little word we all laugh about.  Like, "Remember when we used those silly things called banks? How stupid were we?" 

[kripeecakes]

If you read back, most posters have said 'no bank'. We need to get away form that for regulatory reasons.

I think what BTSX really does is bypass the bank.

Yes, "bank" invites aggression from policy makers ...

... stealth is key ...

... the fact that 2.0 crypto is increasingly becoming anonymous/encrypted ...


... this will put pressure on regulators to act .... and choke off places like coinbase ....   

[merockstar]

If you read back, most posters have said 'no bank'. We need to get away form that for regulatory reasons.

I think what BTSX really does is bypass the bank.

is that the reason though?

I mean, BM and crew hired lawyers, and they're ok with the word bank, no?

my thinking was bank is a poor choice because when people hear bank they think "you mean those bastards who charge interest to be only means of facilitating constant increases to the money supply, after foreclosing on half the population that they gave ripoff mortages to? pass."

[tonyk]

'Cooperative Reserve'


"Peer Reserve [Vault]'

  ;)

abbr. PRV&X

[donkeypong]

If you read back, most posters have said 'no bank'. We need to get away form that for regulatory reasons.

I think what BTSX really does is bypass the bank.

[kripeecakes]

... after reading a little about Truthcoin ....

...how about "Truthbank"

[lucky331]

I just had this very discussion with Dan today.  The metaphor we came up with is "virtual vault" where you can trade virtual gold, silver, dollars, etc.   Trying to move the message more away from bank and never directly call it a bank.  After all, the X stands for eXchange, so it functions mostly as an exchange, albeit an exhange where you can store your value long term.

yeah. calling and comparing it with a traditional establishment such as a "bank" is so limiting, imho.

crypto projects, especially crypto 2.0 can be much much more than a bank and an exchange even.  hoping bitshares will have its implementation of smart contracts in the future. 

... maybe that's where etheruem comes in? 

[Murderistic]

Asset Xchange perhaps?  I like Asset union as well but exchange is true to what it is.

[MktDirector]

I just had this very discussion with Dan today.  The metaphor we came up with is "virtual vault" where you can trade virtual gold, silver, dollars, etc.   Trying to move the message more away from bank and never directly call it a bank.  After all, the X stands for eXchange, so it functions mostly as an exchange, albeit an exhange where you can store your value long term.

[Riverhead]

Asset Union?

I like this one too. Has multiple meanings.

[Riverhead]

X-Asset? Simple like BTC-e

[merockstar]

A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses.

lending activities? isn't that a different DAC?

I think asset union is an awesome suggestion.
But the argument for cooperative got to me.

how about asset cooperative?