Topic: Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE - page 23. (Read 191876 times)

Rob E... don't be a fool please.

You're freaking out because one exchange partners with a bank. This does little to corrupt any privacy or "statelessness" that you seek, and does much to bring the world of normal people into Bitcoinland, where, upon finding an amazing new monetary system, they are likely to start abandoning the banks you hate so much.

You have too little confidence in Bitcoin as a decentralized system if you think it is made weaker by attaching one part of it to the banking system. I wonder if you would've similarly freaked out when MtGox enabled people to send fiat to it via wire transfers from banks? That, even more than this announcement from Paymium, enabled Bitcoin to start interacting with the normal financial world. And indeed, Bitcoin is far stronger now because of it.

If you think I'm a lunatic, you're welcome to counter what I'm saying here.

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How do you know Gox's bank cares? Remember the bank is only seeing the withdrawals and deposits, they not seeing the bitcoins coming in and out, that are used to represent those dollars.

It's a PSP. The only difference between Gox and this that I can see is that Gox can't keep your fiat in your own private account. I'm fairly certain Gox's bank knows full well what they are doing, and are OK with Bitcoin too. Ditto for BitInstant's banks.

Oh really? Which government? American? British? Chinese? French? Korean?
Yeah, marijuana is SO illegal now that "the government" has made it illegal. Especially in Canada and Netherlands  

an exchange is very different from a bank

I don't use mtgox neither

Why the F are people freaking out about "OMG!Bitcoin is being linked with fiat!" when MtGox has been doing it for almost two years now? You guys are nuts! (And some of you need to tone down the trolling a bit; it's so moronic, it's blatantly obvious)

I perfectly understand how bitcoin works. You don't know how gov works.

I know perfectly well that the bitcoin network cannot be seized, but what you don't know is that gov can ban the use of bitcoins. Gov can actually send cops in those shops who have the "bitcoin accepted" sign and put them a fine.

The same way as marijuana will keep growing (will never be extinguished), but that doesn't mean that the gov doesn't pursue it.

they are not a bank..

banks require millions upon millions of money reserves aswell as alot more infrustructure.. they are a payment gateway ( a PSP)

the fiat control is licenced and losses of fiat are insured and regulated. but the bitcoin side is not licenced/regulated or insured. that being said.. atleast having a FIAT licence and the power of their PSP beside them will push any cyber crimes investigation to a much higher priority then a guy in his basement getting a virus that steals his online bank account details.

and yes the flip side of it is more bad press of another hack.. so i truly hope they get a crack team of experts in to super secure their site.

i to wish for the day my local ASDA (uk version of walmart) sells me eggs and bacon and i pay them in bitcoins


to be honest im not sure about france. but in the uk it doesnt require much recognition.. for instance i know someone who is in talks with a prepaid debit card provider and they really are not interested in bitcoin or what the funny money people trade between each other on websites. as long as the FIAT is accountable to someone and that its checked against known watchlists and as long as you are not 100% knowingly accepting money from a crime.

i can set up a website that trades bunny rabbit points, and they will still give you a corporate account and client debit cards to hand out. as long as you follow the AML/KYC guidelines theres no issues

i think bitcoincentral just showed their PSP that bitcoin is not only a SR currency.. but a whole community of gold sellers, alpaca sock sellers, graphics cards, asics sellers and other 'legally accepted' product sellers.

I am in a similar position than you, i don't really care... but we're wrong. We should care.

If something happens they will use the goverment aka call the cops, that's why they wanted to be licensed, and more over, they are obligated.

So they call the cops, what happen next? Newspapers with bad press... what happens next? Regulations...

It's just a path that i don't like.

nice

actually i do and my wages are in fiat. and even more surprisingly i dont mine bitcoins. i make profit using bitcoins though in my spare time on the exchanges.

i just feel that freedom means choices. and some of the freedom fighters sentiments are lost by saying kill banks only have bitcoins.. 1 option is still 0 choices.


well any hacks should be dealt with by the cyber crimes team of the countries authorities. but with a bank/PSP being part of the chain. they would put pressure on the authorities to ensure it gets top priority investigations happening. instead of a unknown guy named xyz in a basement having his desktop server being scrambled by a hacker, which wouldn't take priority.

Just one question. If someone hacks this 'bitcoin central', will the owners call the cops? What will happen then?

Sorry, i'm agorist, i don't really care about being 'blessed by the gov'.

So... i'm not putting my bitcoins in there and OF COURSE i am not giving them my personal information.

I hope you don't make a huge mistake dealing with 'your old friend' the gov.

freedom fighters first need to realise that currently there is probably only 0.002% of the world population using bitcoin (7bill/150k regular btc users) and to get more people over to bitcoin their needs to be an easy way to transfer FIAT to BTC and back again. so using financial institutions services is required for market expansion of BTC to atleast get the population usage up.(step 1)

even if 0.02% of the population only uses bitcoin that is 10x the market capital and demand we have today, ill leave you to do the maths for the multiples of population vs the value/demand of BTC because of population use rise.

atleast making it easier for people to buy bitcoins and for merchants/miners to sell bitcoins to buy food and pay utility bills. makes them less reliant on accepting FIAT upfront, slowly making it easier to get to (step 2&3) the point where utility company's and grocery stores accept bitcoin

to then direct pay employees in bitcoin without conversion(step 4) and then void the use of central banks completely (step5)

but you cannot take step 1 and jump to step 5 in a day. so bitinstant and bitcoincentral are atleast getting step 1 inplace.. while still keeping the control of bitcoins within the community.

maybe one day credit mutuel MAY buy out bitcoincentrals bitcoin server and do it all inhouse. lets hope that never happens. and if it does you can simply sell out of credit mutual, and find a new community led PSP.

once BTC gets to a point of not requiring FIAT(atleast 5 steps away) due to wages being paid in BTC from businesses that accept BTC for their goods and their suppliers also accepting BTC to pay their raw materials suppliers and employee's then the financial institutions will no longer be required.

i personally dont think step 4 or 5 will ever happen in my lifetime, not unless the laws change. but atleast steps 1,2,3 will expand bitcoins value/demand to a massive level. Allowing people the choice of staying with FIAT when they visit the 7-11 store or using bitcoin.

choice is the freedom. but ruling out FIAT and only having BTC is not a freedom. because PSP/exchanges such as MTGOX can start "price setting" and becoming the 21st century central bank.

if all you want is step 5 then you might aswell ask obama(US) cameron(UK) and other counturies to just start printing the bitcoin notes instead of green backs and red backs.. and change the HSBC logo to MTGOX and the bank of america logo to bitinstant.. leaving all the laws and processes the same. as thats what step 5 will end up being.. one choice just a rebranding of the names.

i dont want a world where only BTC exists i want a world where i can go to a shop and pay them in FIAT, Silver or BTC. everyone wants to make a 'buck'. bankers, you/me, everyone... but atleast not limiting choice to just bitcoin or just fiat allows people more freedom of how they make a 'buck'. so freedom fighters stop aiming for step 5 and concentrate on steps 1.2.3,4 expanding peoples choices and freedoms..

If you want money join this cause  . if you want freedom .
Dont .  one can survive without money .  but one cannot survive being a slave. . at least i cant  .

wel i don't know what authorities re gonna be knocking on my door soon i suggest everyone speak up . that way it could be overwhelming. And the people can have a common voice . And the people can be in charge . like a democracy .

Cripes that was real helpful.  Bitcoin is the currency of the freedom fighters the ones who want to create a better world it doesn't belong to those who want to make a buck who want to suck up to bankers of the established system making deals . . so they can join in on profits onbeknownst  to them. They belong to free spirits trying to create a new world a new financial system understanding .. that the core destruction aswell  financialy mentally and socially is caused by the current banking system that aims  on a global system hopes; expects  we  people bow down to.

The criminals and the cartels they operate shouldn't have the power they have, but there's nothing we can do about it. The reality of the situation is that we don't live in a voluntary society, and sometimes dealing with the state on its terms is an unfortunate necessity.

Merely using government provided (and mandated) services by itself does not constitute an endorsement of the state in the same way a prisoner does not endorse the criminal justice system merely be eating food provided by the jailer.