Could the Kiwi Farms become a payment processor or bank? - Thread brought to you by the Bank of England.

[notafloridian]

Josh once mentioned that he looked into becoming a bank or payment processor and that the costs are so prohibitively large as to be insurmountable.

Now, I think most of us would be more than happy to be customers at the Bank of Kiwi and have our net worth lie in Josh's hands. What would actually be needed to achieve this?

 

[Asian tech support]

What would actually be needed to achieve this?

Probably a hundred million bucks and the blessing of the FDIC.

 

[eatler]

Bud the site barely runs with the assistance of volunteers. There’s a reason why banks are big and evil, they have to be big!

 

[Anti Snigger]

IIRC companies can either be a bank or never do banking. I remember walmart got into some hot water for trying.

 

[notafloridian]

Probably a hundred million bucks and the blessing of the FDIC.

The way FDIC works in Europe (EDIS) is that banks pay into the insurance relative to its size - so a Kiwi Bank could potentially have low fees while still being covered.

 

[Black Man Underwear]

Inshallah Joshua Moon takes over world finance.

 

[Iron Jaguar]

I really need a Platinum Kiwi Card

 

[Teghern]

A millionaire did this in England and he almost got screwed over by bullshit regulations, which I can only imagine are somehow worse in muttstan, and he only managed to save it because of his actual literal millions in addition to more millions provided by other businesses all of which was only possible because Dave Fishwick is a complete fucking psychopath who gets off on eating his own kind, sort of like how mercury accumulates in fish he must get the baby-juice from the apex predator or something.
Just look into these cold dead eyes and tell me this "man" hasn't done unspeakable things, just to get his gloried credit union operational? I truly don't believe Null would be capable of such acts, too innocent and pure and I wouldn't wish it upon him.

 

[Fabio Socialist]

"B-but being a bank has GOT to be cheaper than being a domain registrar"

 

[Not Really Here]

Between 15 and 25 million in reserve, plus the cost of lawyers, and regulatory compliance professionals.

 

[Apustajan apustaja]

What if he buys cheese with all my money? On the other hand, with premium cheese what you are paying for is time in storage....maybe a cheese bank?

 

[notafloridian]

The great Bank of Shitland says Jersh would only need ~€1 Million as capital requirement to operate as a "Small Specialist Bank" - We can fund this amount easily Kiwibros.



[1] https://www.bankofengland.co.uk/-/m...al-regulation/new-bank/shouldibecomeabank.pdf

 

[Dagoth AMOGUS]

anything is possible in this brave new world so long as you dont get caught

 

[Baguette Child]

The great Bank of Shitland says Jersh would only need ~€1 Million as capital requirement to operate as a "Small Specialist Bank" - We can fund this amount easily Kiwibros.

View attachment 5713730

[1] https://www.bankofengland.co.uk/-/m...al-regulation/new-bank/shouldibecomeabank.pdf

I mean... it's a lot, sure, but it's not an unattainable amount if true. Give it a couple years and I bet we could collectively come close to that.

 

[King George III]

I call dibs on being VP of Troon Loan Denial.

 

[and and and and]

>Just make your own country

 

[Alex Hogendorp]

If Josh's bank gets shut down, he'll then have to make his own country between Egypt and Sudan. But America would have a bullshit reason to start civil war there.

 

[Niggernerd]

Do we have enough Jewish farmers?

 

[Bookwork]

KF ATMs dispense lolcoin

 

[Zbk3VmLfujjzjxBd43tL]

Yes, so that the global elite ensure is cleansed of the Josh vermin.