Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE - page 30.

Stephen Gornick

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Quote from: davout on December 06, 2012, 11:08:53 AM

Our user's funds will actually be held at the Credit Mutuel under the user's name, they will be separate from Paymium's funds (on the other hand, all of other exchanges funds for example sit in the same account, and are considered by their bank to be their corporate property)

Bitcoin-Central currently operates a BTC/EUR market and a BTC/GBP market (and still has the BTC/USD market showing on the site, without support for offers currently). Does this mean GBP, USD and any other funds will be held at Credit Mutuel as well?

Quote from: davout on December 06, 2012, 11:08:53 AM

Our user's accounts will be protected by the "Garantie des dépôts" which is the French equivalent of the American FDIC

Presumably this protection applies to just the EUR balances for each Bitcoin-Central account?[/list]

notme

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Quote from: TheBible on December 06, 2012, 07:56:37 PM

Quote from: evoorhees on December 06, 2012, 07:39:43 PM

Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.

If I wanted to go out to dinner, or needed to go to the store for some groceries, where can I go that will accept this superior currencies debit card?

Anywhere debit cards are accepted.

But way to come out swinging before you understand what is being discussed.

TheBible

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Quote from: evoorhees on December 06, 2012, 07:39:43 PM

Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.

If I wanted to go out to dinner, or needed to go to the store for some groceries, where can I go that will accept this superior currencies debit card?

knight22

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--------------->¿?

Quote from: evoorhees on December 06, 2012, 07:39:43 PM

Quote from: Come-from-Beyond on December 06, 2012, 05:07:31 PM

Quote from: conspirosphere.tk on December 06, 2012, 04:57:53 PM

So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.

Very good point.

No, it's not a good point.

Integrating Bitcoin with the normal financial world is not "going back to square 1". In all cases, you have the option, once in Bitcoin, to be apart from that world. The integration is simply an inevitable (and important) step to help the rest of the world climb on to our superior system. Every integration between Bitcoin and the old systems brings those old systems closer to death, because once attached, Bitcon begins to siphon off economic activity.

It would only be "going back to square 1" if, somehow, were were now all forced to use this French exchange and comply with banking laws there. That would be bad, but that is impossible if you understand how Bitcoin works.

Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.

+1 Exact!

justusranvier

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If you're worried about the Eurocrats freezing your account then use some basic risk management.

Don't store all your bitcoins there. Keep most of your balance on a wallet under your direct control and only add small amounts of bitcoins as needed to fund your debit card.

TheBible

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Now wait, I thought one of the main points of Bitcoin was to get away from big centralized banks and federal regulation. Of course, you guys have never been shy to call in the Feds to solve your problems, so I guess this latest display of hypocrisy should come as no surprise.

But hey, congratulations for discovering why all modern currencies use banks and government backed insurance. And at what fine establishments can I use this bitcoin debit card?

evoorhees

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Democracy is the original 51% attack

Quote from: Come-from-Beyond on December 06, 2012, 05:07:31 PM

Quote from: conspirosphere.tk on December 06, 2012, 04:57:53 PM

So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.

Very good point.

No, it's not a good point.

Integrating Bitcoin with the normal financial world is not "going back to square 1". In all cases, you have the option, once in Bitcoin, to be apart from that world. The integration is simply an inevitable (and important) step to help the rest of the world climb on to our superior system. Every integration between Bitcoin and the old systems brings those old systems closer to death, because once attached, Bitcon begins to siphon off economic activity.

It would only be "going back to square 1" if, somehow, were were now all forced to use this French exchange and comply with banking laws there. That would be bad, but that is impossible if you understand how Bitcoin works.

Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.

evoorhees

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Activity: 1008

Merit: 1023

Democracy is the original 51% attack

Quote from: Come-from-Beyond on December 06, 2012, 02:36:27 PM

Quote from: 01BTC10 on December 06, 2012, 11:11:35 AM

We need more stable/legal exchange.

No, we don't. We need other ppl use Bitcoin as a medium of exchange for goods, not for other currencies.

Ahhh but what if currencies ARE goods? (hint: they are)

iCEBREAKER

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Crypto is the separation of Power and State.

C'est fantastique! Cool

This event marks the end of the beginning!

Ex0deus

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Quote from: davout on December 06, 2012, 01:39:43 PM

Quote from: BitcoinSuite on December 06, 2012, 01:37:07 PM

Quote from: Bitexchange on December 06, 2012, 01:16:38 PM

For example, i would expect ALOT of fraud going on from your 'customers' once you do IBAN accounts with just ID

These guys are running a BANK. I am sure they can figure it out.

To be precise we partnered with a licensed PSP in such a way that we are allowed to do most of what banks do.

But for clarification.... you are in fact NOT running a bank... correct?

Trader Steve

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"How do you eat an elephant? One bit at a time..."

Quote from: Come-from-Beyond on December 06, 2012, 02:36:27 PM

Quote from: 01BTC10 on December 06, 2012, 11:11:35 AM

We need more stable/legal exchange.

No, we don't. We need other ppl use Bitcoin as a medium of exchange for goods, not for other currencies.

+1 although any increase in usage is good.

byronbb

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HODL OR DIE

Is there a connection between the Finnish flag on the site and the confirmation by their Central Bank that bitcoins are "legal"?

SgtSpike

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Quote from: marcus_of_augustus on December 06, 2012, 05:19:22 PM

Quote from: davout on December 06, 2012, 05:11:10 PM

Quote from: conspirosphere.tk on December 06, 2012, 04:57:53 PM

So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.

Beat them at their own game, that's the way I roll.

Also if they want to lock your Bitcoins they have to define them legally first : no matter the way you look at it Bitcoin wins.

Davout, I hear what you are saying and appreciate your enthusiasm. You are one of the guys who I've respected as having the right attitude from the first time I arrived at this forum ... so go for it I say. Fortune favours the brave.

That said, I wonder how much the ECB (who released their little report into bitcoin) are trying to take you (and bitcoin) "under their wing", so to speak, so that at a later stage it will be that much easier for them to regulate bitcoin into oblivion. At this point in time they have no moral (or even legal perhaps) standing to regulate bitcoin, in as much as they have no standing to regulate exotic rock mining in Angolia.

Be careful, as the old saying goes, "lie down with dogs .... ".

It'd be akin to trying to regulate cash transactions. It only works if those conducting the transactions want them to be regulated.

acoindr

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Quote from: ?? on ??

Quote from: acoindr on December 06, 2012, 05:18:33 PM

Back at square 1? Not quite.

True - it's much worse than that.

Reading between the lines... do you mean

SELL SELL SELL!!!

becoin

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Quote from: MPOE-PR on December 06, 2012, 02:08:52 PM

Obviously every great leap forward has the potential to encounter a wall with steel spikes on it.

This is most likely what will happen. Don't be overexcited and act with extreme care, David. Fiat money world and bitcoin by definition just can't peacefully coexist and be legally 'interfaced' in current regulatory environment. Credit Mutuel have started a dangerous game and I'm afraid the role of bitcoin-central in this game is the role of a scape goat.

Nevertheless, it is a major development in the bitcoin world. You did it. Congrats!

davout

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Activity: 1372

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1davout

Quote from: punningclan on December 06, 2012, 05:14:25 PM

How did the french manage that? Nice one!! Grin

Hahaha oh god

Quote from: marcus_of_augustus on December 06, 2012, 05:19:22 PM

at a later stage it will be that much easier for them to regulate bitcoin into oblivion

They can regulate BC (not the ECB though), good luck regulating math

Brunic

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Congratulations!

247saver

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Congratulations, this is another good solid step along the way for Bitcoin!

marcus_of_augustus

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Eadem mutata resurgo

Quote from: davout on December 06, 2012, 05:11:10 PM

Quote from: conspirosphere.tk on December 06, 2012, 04:57:53 PM

So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.

Beat them at their own game, that's the way I roll.

Also if they want to lock your Bitcoins they have to define them legally first : no matter the way you look at it Bitcoin wins.

Davout, I hear what you are saying and appreciate your enthusiasm. You are one of the guys who I've respected as having the right attitude from the first time I arrived at this forum ... so go for it I say. Fortune favours the brave.

That said, I wonder how much the ECB (who released their little report into bitcoin) are trying to take you (and bitcoin) "under their wing", so to speak, so that at a later stage it will be that much easier for them to regulate bitcoin into oblivion. At this point in time they have no moral (or even legal perhaps) standing to regulate bitcoin, in as much as they have no standing to regulate exotic rock mining in Angolia.

Be careful, as the old saying goes, "lie down with dogs .... ".

acoindr

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Activity: 1050

Merit: 1002

Quote from: Come-from-Beyond on December 06, 2012, 05:07:31 PM

Quote from: conspirosphere.tk on December 06, 2012, 04:57:53 PM

So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.

Very good point.

You two seem to think in absolutes. You act like one exchange becoming a bank equals bitcoin is now the same as banking fiat.

Bitcoin is a currency, a free market one at that. People use currencies (including dollars) differently, for both legal and illegal use, and in various ways. Not every single bitcoin user will open this type of bank account. I don't know why you might think so.

So, all the while Bitcoin becomes more widely accepted and easier to use various ways... it is still capped at 21 million coins in total guaranteed; and still has its anonymous and low/zero fee capabilities. Back at square 1? Not quite.

Topic: Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE - page 30. (Read 191876 times)