[2014-04-02] Bank of Montreal open to Bitcoin

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: bryant.coleman on April 03, 2014, 09:14:28 PM

Quote from: pabloangello on April 03, 2014, 12:03:00 PM

Will not make them jobless. There are always people that doesn't understand investing, funds etc. and would like someone else to manage their savings. Same way bitcoin-investing instruments could work.

Hmm.. that means more exploitation by the bankers, in the name of "management". And who knows, may there be even haircuts, a la Cyprus.

Who knows, hard to predict such a far-reaching assupmtions for Bitcoin.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: LiteCoinGuy on April 02, 2014, 07:17:22 AM

BMO open to Bitcoin if virtual currency is regulated, reliable, says CEO Bill Downe

http://business.financialpost.com/2014/04/01/bmo-open-to-bitcoin-if-virtual-currency-is-regulated-reliable-says-ceo-bill-downe/

I like how to picture has a Bitcoin Mascot and a Bank CEO on the same image Grin

Indeed, the furor has been so fierce that most Canadian banks won’t do business with companies focused primarily on Bitcoin, refusing even to allow them to open accounts for fear of potential issues with regulators or other authorities down the road.

bryant.coleman

legendary

Activity: 3808

Merit: 1219

Quote from: pabloangello on April 03, 2014, 12:03:00 PM

Will not make them jobless. There are always people that doesn't understand investing, funds etc. and would like someone else to manage their savings. Same way bitcoin-investing instruments could work.

Hmm.. that means more exploitation by the bankers, in the name of "management". And who knows, may there be even haircuts, a la Cyprus.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Kind of two-faced to come out in support now after ruining the livelihood of some previous intrepid entrepreneurs who they had accepted business from and then pulled the rug oot from under.

I'd stay away from them until they demonstrate less craven tendencies and schizophrenic about turns.

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: bryant.coleman on April 03, 2014, 11:32:16 AM

Quote from: pabloangello on April 03, 2014, 11:30:02 AM

Such a support from his side is still better than none.

Agreed. Something is better than nothing. But I am just being cautious. If bankers know that Bitcoin could make them jobless, will they ever support it? Doesn't make sense.

Will not make them jobless. There are always people that doesn't understand investing, funds etc. and would like someone else to manage their savings. Same way bitcoin-investing instruments could work.

bryant.coleman

legendary

Activity: 3808

Merit: 1219

Quote from: pabloangello on April 03, 2014, 11:30:02 AM

Such a support from his side is still better than none.

Agreed. Something is better than nothing. But I am just being cautious. If bankers know that Bitcoin could make them jobless, will they ever support it? Doesn't make sense.

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: bryant.coleman on April 03, 2014, 11:26:28 AM

The CEO says will support the Bitcoin only if it is regulated by the authorities. Sort of half-hearted opinion. Spoke like a true banker.

Such a support from his side is still better than none.

bryant.coleman

legendary

Activity: 3808

Merit: 1219

The CEO says will support the Bitcoin only if it is regulated by the authorities. Sort of half-hearted opinion. Spoke like a true banker.

seriouscoin

hero member

Activity: 658

Merit: 500

Quote from: medicine on April 02, 2014, 08:00:19 PM

Nice they open to the idea of bitcoin. I don't know what a bitcoin related transaction is though. Does he mean like when I send money from my bank account to the telecommunications company that is a telecommunications related transaction? All we're doing is sending money from our bank account to another person or company's bank account. Stay out of our personal business please. Keep servicing your clients and ripping them off with fees. I choose to transact for free, instantaneously and without you sticking you noses in other people's business.
P.S. thank you for not closing Virtex's bank account.

+1 sound like a bunch of PR Bullshit to me. Members here got their account closed simply because they have sold some btc.

medicine

hero member

Activity: 697

Merit: 501

Nice they open to the idea of bitcoin. I don't know what a bitcoin related transaction is though. Does he mean like when I send money from my bank account to the telecommunications company that is a telecommunications related transaction? All we're doing is sending money from our bank account to another person or company's bank account. Stay out of our personal business please. Keep servicing your clients and ripping them off with fees. I choose to transact for free, instantaneously and without you sticking you noses in other people's business.
P.S. thank you for not closing Virtex's bank account.

CryptoBroker79

hero member

Activity: 493

Merit: 500

I must commend the Canadian Government for taking a hands off approach towards Crypto, allowing the whole industry to flourish. I also applaud BMO for their progressive approach toward finance, and going so far as noting inefficiencies in our current system. This is the first step toward the common man walking around with bitcoin, rather than cash.

pabloangello

legendary

Activity: 1344

Merit: 1001