Backing? Uh, no. Backing would mean someone guaranteeing to buy all Bitcoins in existence at a certain price. Someone might back Bitcoin with $21 million held in escrow guaranteed to buy any and all Bitcoins for $1 each, for example.
Not only that, the article is wrong about Bitcoins being protected from a company bankruptcy. Only Euro balances are protected.
Bad fudzilla writer is bad.
Topic: Bitcoin gets official backing (Read 1666 times)
So the article was misleading i guess 
"it means that bitcoins has protection on balances held at the exchange."
IF THE ABOVE WERE TRUE...
It would be a big deal for anyone who has a large amount of coins because
of the €100,000 protection European bank accounts get.
BUT THE REAL TRUTH IS HERE...
https://bitcoin-central.net/s/aqoba-partnership
It sounds like the equivalent of getting a credit/debit card processing account.
IF THE ABOVE WERE TRUE...
It would be a big deal for anyone who has a large amount of coins because
of the €100,000 protection European bank accounts get.
BUT THE REAL TRUTH IS HERE...
https://bitcoin-central.net/s/aqoba-partnership
It sounds like the equivalent of getting a credit/debit card processing account.
So any real proof seeing something, that these news help BTC to get more popular?
I'm amazed at some of the articles people have written on this topic. Partnering with a PSP is very different to operating a bank.
Quote
Bitcoin has won the right to operate as a bank
This made me lol. It was an exchange that won the right to operate as a bank. Its a pretty misleading article.
Only it hasn't. They're operating as a payment processor. Wait, that's still not right. They're working WITH a payment processor that's associated with a bank, so that EUR deposits are now insured (BTC deposits are still not). This is a step towards.... towards..... uhm, anyone help me out here?
Quote
Bitcoin has won the right to operate as a bank
This made me lol. It was an exchange that won the right to operate as a bank. Its a pretty misleading article.
Huh, interesting. It's going to be an interesting road the next 5-10 years as Bitcoin catches on as a usable currency. It's good to see some progress! I can't wait until the day I can make mortgage payments with BTC.
Reminds me of this XKCD comic. "It may be a jewel of open source, but Bitcoin is just a currency. You buy stuff with it. What the hell is wrong with us?"
Reminds me of this XKCD comic. "It may be a jewel of open source, but Bitcoin is just a currency. You buy stuff with it. What the hell is wrong with us?"
http://www.fudzilla.com/home/item/29778-bitcoin-gets-official-backing
This means, that more will choose to use BTC, good news.
This means, that more will choose to use BTC, good news.
Jump to: