2012-08-24 American Banker - Lightning Fast, Dirt Cheap: Bitcoin Shows What Bank

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: hazek on August 26, 2012, 06:51:51 AM

Quote from: iCEBREAKER on August 25, 2012, 11:40:20 PM

Quote from: Piper67 on August 25, 2012, 09:24:51 PM

If I were the betting kind, I'd bet the first bank to offer BTC accounts will be a Swiss one Cheesy

The Swiss have caved to the Eurocrat money Nazis. They grassed on their US customers. Farking snitches should get stitches.

Their 900 year tradition of neutrality, privacy, and financial competence is dead. It just hasn't stopped moving yet, due to inertia.

The first bank to offer BTC interoperability will be in the middle east (Dubai, Israel), Russia (God bless crazy Ivan), or SE Asia (Singapore).

^ this.

lol, two trolls in a row, we're getting better every day here on bitlk.

Neutrality is not dead, just being bashed and fought with all the globalist forces joined together.
The first one will be a swiss bank so, you wanna bet?

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: iCEBREAKER on August 25, 2012, 11:40:20 PM

Quote from: Piper67 on August 25, 2012, 09:24:51 PM

If I were the betting kind, I'd bet the first bank to offer BTC accounts will be a Swiss one Cheesy

The Swiss have caved to the Eurocrat money Nazis. They grassed on their US customers. Farking snitches should get stitches.

Their 900 year tradition of neutrality, privacy, and financial competence is dead. It just hasn't stopped moving yet, due to inertia.

The first bank to offer BTC interoperability will be in the middle east (Dubai, Israel), Russia (God bless crazy Ivan), or SE Asia (Singapore).

^ this.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Piper67 on August 25, 2012, 09:24:51 PM

If I were the betting kind, I'd bet the first bank to offer BTC accounts will be a Swiss one Cheesy

The Swiss have caved to the Eurocrat money Nazis. They grassed on their US customers. Farking snitches should get stitches.

Their 900 year tradition of neutrality, privacy, and financial competence is dead. It just hasn't stopped moving yet, due to inertia.

The first bank to offer BTC interoperability will be in the middle east (Dubai, Israel), Russia (God bless crazy Ivan), or SE Asia (Singapore).

Piper67

legendary

Activity: 1106

Merit: 1001

If I were the betting kind, I'd bet the first bank to offer BTC accounts will be a Swiss one Cheesy

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote from: kiba on August 24, 2012, 04:13:49 PM

It is up to the banks if bitcoin is a threat or an opportunity to crush other bankers.

I couldn't agree more . I don't get why a bank doesn't just grab hold and run with bitcoins in some fashion they would kill it. Good article!

The-Real-Link

hero member

Activity: 533

Merit: 500

Printed and saved this article because it was so awesome. Nice to hear some good news. Might actually go tip this guy

Thanks for the link and a great report.

Domrada

sr. member

Activity: 254

Merit: 250

It's alarming that he paid 6% to deposit cash at a bank. Bitfloor lets you deposit cash at any Chase or Wells Fargo for free. The article makes it sound like your only choices are to wait a week for Dwolla, or pay 6%. Undecided

Gareth Nelson

hero member

Activity: 721

Merit: 503

Quote from: iCEBREAKER on August 24, 2012, 09:39:22 PM

Quote from: sunnankar on August 24, 2012, 09:15:56 PM

Quote from: marcus_of_augustus on August 24, 2012, 09:08:14 PM

Quote

"I tried once to install the software. It took forever and didn't do anything," says Robert Hughes, a senior vice president with the consulting firm Speer & Associates who's been studying Bitcoin.

I gotta say this cracked me up ... I wonder if he is representative of the intellect of your average Vice-President?

If I was his boss he would not be working for me much longer. Technology moves on and some people will not make the grade ... one of the good things about bitcoin is it raises the bar substantially on raw intellect and competence to remain competitive.

Probably does not even realize how bad the PR is for his firm from a comment like that ....

Many (impatient) people have the same complaint.

I disagree myself - it's entirely possible that the reason it didn't work for him is because of the setup of the corporate network's firewall.

While he should have got in contact with his IT staff to figure it out, he probably dismissed it as being some weird buggy thing.

It's easy to dismiss people who "don't get it", but we should focus on making bitcoin easier to use and understand, light-weight clients such as electrum or bitcoinspinner are the way forward here - the latter is what I actually use myself to store most of my personal funds.

I wonder if it'd be possible in fact for the clients page on bitcoin.org to make electrum or another lightweight client more prominent.

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

Quote from: Timo Y on August 25, 2012, 02:49:06 AM

Quote

There's a lot of copying and pasting involved in Bitcoin, unless you want to memorize phrases like "1PFgAJWLJZGSaVDg2rX3XDfTcyd6CpLdS6."

I don't see how 1PFgAJWLJZGSaVDg2rX3XDfTcyd6CpLdS6 more difficult to copy and paste than IBAN: DE46520400210277281204; BIC: COBADEFF520.

Great point. Same could be said everytime you have to enter credit card info: 16 digits + 4 + 3. Plus after all that, they decide to not put the transaction through for whatever reason, and you have to call them up and give them your mother's best friend name and your PIN and your social security number and who knows what else.

Contrast with the irreversibility and speed of using Bitcoin on a mobile via QR codes. Vast improvement.

Also if you can't or don't want to use QR, firstbits and vanity addresses are available to mitigate the length issue.

Timo Y

legendary

Activity: 938

Merit: 1001

bitcoin - the aerogel of money

Quote

There's a lot of copying and pasting involved in Bitcoin, unless you want to memorize phrases like "1PFgAJWLJZGSaVDg2rX3XDfTcyd6CpLdS6."

I don't see how 1PFgAJWLJZGSaVDg2rX3XDfTcyd6CpLdS6 more difficult to copy and paste than IBAN: DE46520400210277281204; BIC: COBADEFF520.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: sunnankar on August 24, 2012, 09:15:56 PM

Quote from: marcus_of_augustus on August 24, 2012, 09:08:14 PM

Quote

"I tried once to install the software. It took forever and didn't do anything," says Robert Hughes, a senior vice president with the consulting firm Speer & Associates who's been studying Bitcoin.

I gotta say this cracked me up ... I wonder if he is representative of the intellect of your average Vice-President?

If I was his boss he would not be working for me much longer. Technology moves on and some people will not make the grade ... one of the good things about bitcoin is it raises the bar substantially on raw intellect and competence to remain competitive.

Probably does not even realize how bad the PR is for his firm from a comment like that ....

Many (impatient) people have the same complaint.

sunnankar

legendary

Activity: 1031

Merit: 1000

Quote from: marcus_of_augustus on August 24, 2012, 09:08:14 PM

Quote

"I tried once to install the software. It took forever and didn't do anything," says Robert Hughes, a senior vice president with the consulting firm Speer & Associates who's been studying Bitcoin.

I gotta say this cracked me up ... I wonder if he is representative of the intellect of your average Vice-President?

If I was his boss he would not be working for me much longer. Technology moves on and some people will not make the grade ... one of the good things about bitcoin is it raises the bar substantially on raw intellect and competence to remain competitive.

Probably does not even realize how bad the PR is for his firm from a comment like that ....

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote

"I tried once to install the software. It took forever and didn't do anything," says Robert Hughes, a senior vice president with the consulting firm Speer & Associates who's been studying Bitcoin.

I gotta say this cracked me up ... I wonder if he is representative of the intellect of your average Vice-President?

If I was his boss he would not be working for me much longer. Technology moves on and some people will not make the grade ... one of the good things about bitcoin is it raises the bar substantially on raw intellect and competence to remain competitive.

sunnankar

legendary

Activity: 1031

Merit: 1000

Quote from: ?? on ??

Lol, his account's doing well out of this

Starve the bad and feed the good. Bankers are not much smarter than dogs; which is one reason they need the bailouts, regulations, etc. in order to stay in business. More tips hopefully means more positive articles.

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Great article indeed

jim618

legendary

Activity: 1708

Merit: 1066

He posted the bitcoin address he is using in the article.

If you are feeling generous send him a few millis just for fun and general goodwill.
I just sent him 100 millis.

:-)

Gyrsur

legendary

Activity: 2856

Merit: 1518

Bitcoin Legal Tender Countries: 2 of 206

very nice! Kiss

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

This is a great article. Very well written and a good introduction for beginners.

The positive (almost glowing) tone is a pleasant surprise, considering it was published by American Bankster magazine! Cheesy

/sends author a generous tip for 'coining' the catchy phrase "Lightning Fast, Dirt Cheap: Bitcoin."

http://blockchain.info/tx-index/17059195/06c25868c83b63fa60d71694486ef01ce98c2331311bf22818f71e76666eec28

kiba

legendary

Activity: 980

Merit: 1014

It is up to the banks if bitcoin is a threat or an opportunity to crush other bankers.

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

The articles just keep on coming. This is a very good one.

Topic: 2012-08-24 American Banker - Lightning Fast, Dirt Cheap: Bitcoin Shows What Bank (Read 4869 times)