Bank Threatens To Close Accounts Of Bitcoin Buyers

Mometaskers

hero member

Activity: 1764

Merit: 584

Quote from: Kprawn on December 20, 2017, 11:45:30 AM

What must happen is the following :

Some of the richest Bitcoiners or Crypto millionaires should open a Bank for Bitcoiners and give these people some

competition. There are millions of Bitcoiners out there and they should have their own Banks. I would move all my business

to a Bank that supports Bitcoin. Wink

I suppose these would look like some exchanges that require ID photos and government documents. Definitely would not be anonymous but people in need of loans would accept any good deal they can find. That would be the only use of these "bitcoin banks" anyway since bitcoins allow us to keep our money on our own.

I don't know how they'll do it but more competition is definitely better. Give these bankers a run for their (well not actually their Grin

) money. 110% support.

Carmen01

full member

Activity: 294

Merit: 101

Streamity Decentralized cryptocurrency exchange

In some i think yes but in our country no because bank and crypto help each other to our economy here,actually some work here in our country are more on crypto and it help the economy that's why it continue to grow and it's spread day by day here.I say the bank and crypto have a lot of people that works like in our country called coins.ph it's a wallet that need to monitor day by day so it's a job and it's a bank and a btc wallet also.

XaurumGamma

newbie

Activity: 58

Merit: 0

Bank are dinosaures. Old and greedy never-have-enough people...

XaurumGamma

newbie

Activity: 58

Merit: 0

They will lose costumers... money will shift to diferent places... dumb idea by banks.

bitfocus

member

Activity: 532

Merit: 15

That's really sad but a lot of governments and banks are doing such things to Bitcoin users, he should switch to a more BTC friendly bank asap.

icanscript

hero member

Activity: 686

Merit: 502

The war between bankers and the cryptomir has only just begun. In 2018, we will see fierce fights on the money market.
Closure of accounts, only a small and ridiculous step made by the bank.

The_prodigy

hero member

Activity: 924

Merit: 500

Quote from: Rick Nolan on December 20, 2017, 08:20:36 AM

Today Jordan Spencer, a client of Lakestone Bank & Trust, said on his Facebook account that the bank sent him a letter, informing that purchases and receiving funds from Coinbase.com is against Lakestone’s policy and the bank will close Jordan’s account if transactions continue.

Read more: https://hype.codes/bank-threatens-close-accounts-bitcoin-buyers

Have you left a feedback?

In my cohntry as well news have started circularing that banks under the order of he government that there has been an order to close accounts of jokders wherein bitcoin transaction was used or stored in it which hs caused panic and fear to some crypto users

btcprospecter

sr. member

Activity: 504

Merit: 251

★777Coin.com★ Fun BTC Casino!

There will always be another bank that you can use instead as a customer you are not doing anything wrong buying bitcoin if they don't want you doing that take your fiat somewhere else.

Harlot

hero member

Activity: 1806

Merit: 672

The problem here is that what they are transacting now is Fiat Currency and is most likely legal. There is no sense behind making your bank account be terminated because your Fuat Currency came from Bitcoin or its transaction originally. It is like prohibiting both the business and the person to have their normal transaction. Luckily they are loopholes in their problem where they can operate from another bank to their affected bank.

audrey12

full member

Activity: 210

Merit: 108

The banks actually starting to look over bitcoin but before they even accept transactions like converting bitcoin into their national currency and deposited to the account of their client but since the value of bitcoin grow so fast banks become threaten of its capabilities to kill banking institutions also another point is that some countries start to legalized bitcoin and if this happen around the world with the technology of bitcoin banks are no longer needed.

Jerusareth

jr. member

Activity: 73

Merit: 1

Why this Banks always threatens Bitcoin only? there is a thousand of other cryptocurrency out there, I think they are just hiding something behind their coats because they have a plan to penetrate the cryptocurrency itself in the future or they have already chosen a specific crypto coin to support.

rezius

member

Activity: 84

Merit: 10

Everyone leave them a bad review. I'm not against banks but I am against banks trying to me a monopoly. That's one of the points Bitcoin is trying to solve. This bank is trying to act as a monopoly and should be exterminated.

tyuner4

full member

Activity: 322

Merit: 179

This is very bad, I will just close my bank account and move on to another bank. Thanks for the information, I will avoid this bank at all costs.

Kprawn

legendary

Activity: 1904

Merit: 1074

What must happen is the following :

Some of the richest Bitcoiners or Crypto millionaires should open a Bank for Bitcoiners and give these people some

competition. There are millions of Bitcoiners out there and they should have their own Banks. I would move all my business

to a Bank that supports Bitcoin. Wink

rb26

full member

Activity: 247

Merit: 101

OPEN GAMING PLATFORM

Quote from: Rick Nolan on December 20, 2017, 08:20:36 AM

Today Jordan Spencer, a client of Lakestone Bank & Trust, said on his Facebook account that the bank sent him a letter, informing that purchases and receiving funds from Coinbase.com is against Lakestone’s policy and the bank will close Jordan’s account if transactions continue.

Read more: https://hype.codes/bank-threatens-close-accounts-bitcoin-buyers

Have you left a feedback?

At least they sent him a letter before taking any actions. Some banks will just terminate an account without even sending any notice and explanation for the termination of their accounts. But that policy of Lakestone could hurt their market as more people are somehow connected to btc. I bet most of their clients who are transacting in btc will move on to another btc friendly banks as soon as they received those letters.

LTCendmanagement

member

Activity: 518

Merit: 10

This is what we hate, banks always limit the money we have. With the bitcoin we can feel the freedom of owning the finances themselves, without the help of banks without government assistance.

Hobo66

hero member

Activity: 1344

Merit: 502

Just use a different bank, this is new info I heard so far from a bank.
In my country this is not a problem yet, I hope this issue never happen
to my bank, The government are trying to stop the progress of bitcoin cant anyone see it.

tigan_gangmei

member

Activity: 73

Merit: 11

Hope the banks realise customers can open accounts in other banks.

uslfd

full member

Activity: 294

Merit: 100

Anyone has an account with them should terminate the account immediately.

Mometaskers

hero member

Activity: 1764

Merit: 584

Your bank won't allow you to use bitcoins? Well then show them they made a bad decision and take all your money out. This is ridiculous. Coinbase is pretty much the largest exchange in the US. And banks not accepting funds from it just stupid, considering the gov't itself consider the exchange's operation legal. I live in a third-world country and all banks here accept bitcoins from our local exchanges.

Topic: Bank Threatens To Close Accounts Of Bitcoin Buyers (Read 353 times)