Topic: Circle approved for BitLicense, new "All USD" wallet app to be announced. - page 2. (Read 1830 times)
September 21, 2015, 06:56:46 AM
This reminds me of changetip finding out after a poll that BTC made people less likely to use them, so they featured USD tipping despite the hardship regulations could bring. This isn't directly beneficial for bitcoin but even for the few people that are going to find out about it's existence though an service they use I'm confident that it's worth it. If people trust circle for non bitcoin uses, finding out about bitcoin through a trusted app is going to be a good introduction.
September 21, 2015, 06:50:50 AM
Ok i thought i missed something over here. Our intention is to promote use of bitcoin but in order to avoid the volatility issue we are actually maintaining the fund holdings in dollar and convert per se to bitcoin to pay when is needed.
September 21, 2015, 06:47:19 AM
If you happy with the traditional banking system, you would be happy to use Circle, it’s as simple as that. They dance to the government’s tunes and adhere to all the KYC and AML regulations. If you want to pay some premium fee’s on top of normal Bitcoin use for some reason, feel free to use them.
They are the vanilla Fiat banking system, with a Blockchain skirt.
They are the vanilla Fiat banking system, with a Blockchain skirt.
September 21, 2015, 06:36:17 AM
Circle and Coinbase will evolve to the new existing crypto banks in the next several years. Future banking will change. Some of the old ones will die and the rest will adopt and develop new blockchain systems and crypto vehicles. Circle and Coinbase will be part of them.
Last time i checked it i cant use them because they didnt accept european credit cards, if they want to be evolve to the new existing crypto banks in the next several years they should improved that a lot.
btw as you said, Circle and Coinbase seems to be working faster on all those things before others, maybe they just want to be "ready" to rumble for the next years
Yes, this is real BS. I cannot believe that they don't still accept EU credit cards, at least the ones from the most secure countries like France, Germany, UK would make sense to me. I mean, they would be well protected in this case, at least that's my guess.
There must be some other catch that doesn't let them accept these European credit cards. If someone knows something more about this, thanks for sharing.
September 21, 2015, 06:20:28 AM
Circle and Coinbase will evolve to the new existing crypto banks in the next several years. Future banking will change. Some of the old ones will die and the rest will adopt and develop new blockchain systems and crypto vehicles. Circle and Coinbase will be part of them.
Last time i checked it i cant use them because they didnt accept european credit cards, if they want to be evolve to the new existing crypto banks in the next several years they should improved that a lot.
btw as you said, Circle and Coinbase seems to be working faster on all those things before others, maybe they just want to be "ready" to rumble for the next years
September 21, 2015, 05:59:37 AM
Circle and Coinbase will evolve to the new existing crypto banks in the next several years. Future banking will change. Some of the old ones will die and the rest will adopt and develop new blockchain systems and crypto vehicles. Circle and Coinbase will be part of them.
September 21, 2015, 05:55:23 AM
I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.
Then I advise you not to use them. There are several other options out there to receive and send bitcoins. You as a user always have a choice and the options to express your dissatisfaction.
September 21, 2015, 02:34:13 AM
I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.
Not just US government affiliation; they're also heavily affiliated with the same incumbent banking corporations who are arguably most to blame for the worsening state of the legacy financial system that bitcoin is supposed to provide an escape from:
Investors Goldman Sachs and Accel:
http://blog.circle.com/2015/04/29/new-circle-investors-new-us-dollar-account-features-china-horizons/
Employing a formerly JPMorgan/Deutsche Bank executive as CFO:
http://blog.circle.com/2014/12/11/circle-team-leadership-expansion/
Employing former SWIFT CEO ( + previous investment from Accel):
http://blog.circle.com/2014/03/26/circle-closes-17-million-series-b-rolls-consumer-product-invite-limited-release/
Employing former Bank of Ireland/Goldman Sachs financier as their MD:
http://blog.circle.com/2014/07/02/circle-appoints-fintech-leader-former-bank-ireland-director-garrett-cassidy-head-european-operations/
Employing former Special Advisor to US Treasury Secretary Tim Geithner as a Director:
http://blog.circle.com/2013/11/14/circle-names-former-banking-industry-exec-head-u-s-consumer-financial-protection-bureau-raj-date-board-directors/
Employing former board member at Wal Mart/Cisco/Goldman Sachs as "global finance executive" (at the same time that Mike Hearn becomes an advisor):
http://blog.circle.com/2014/01/16/circle-adds-new-board-member-announces-key-advisors/
Launch announcement of Accel investment:
http://blog.circle.com/2013/10/30/introducing-circle/
You will eventually get what you deserve if you use a company like Circle (and let me give you a hint: remember how it feels to be a customer of the banking behemoths right now? Well.....)
September 20, 2015, 10:55:20 PM
hmm, I use Circle for purchasing my bitcoin as they were one of the first to let me do it with a debit card and no insane fees, I have noticed it feels more and more ease use with less techy side (shows usd or bitcoin, qr code for wallet and address below is only way to see your address). It will be interesting to see how they evolve.
September 20, 2015, 10:10:22 PM
That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.
If their prices veer away from any other market player then people will take their business elsewhere.
How big is Circle at present? I don't see them discussed all that much on here.
Well it's pretty hard to do that if you live in the US and don't live in any major US city. Hardly none of the US cities have bitcoin ATM's and localbitcoins usually only work for people in large cities that have atleast some people that use bitcoins. Also, Xapo is another way to go about getting them, but they charge a pretty high fee if I'm not mistaken.
Circle I think is a pretty big player in this field right now, especially since they are backed up now by big time investors.
September 20, 2015, 09:56:54 PM
That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.
If their prices veer away from any other market player then people will take their business elsewhere.
How big is Circle at present? I don't see them discussed all that much on here.
September 20, 2015, 09:48:20 PM
For context, I am in no way affiliated with Circle, just had a chance encounter that tipped me off. My use of circle amounted to needing to prove I had a pathway to get mining profits from a pool into my checking account without paying fees. For that use, circle has been great. I'm curious what the fear is? If anything I saw this news as a good thing. It seems to me that what bitcoin really needs is adoption, and that means we need merchants. Merchants need stability. If we can't give them a stable exchange rate, then giving them an app that isolates them from the volatility should help adoption. So what's the danger here?
That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.
September 20, 2015, 09:45:31 PM
For context, I am in no way affiliated with Circle, just had a chance encounter that tipped me off. My use of circle amounted to needing to prove I had a pathway to get mining profits from a pool into my checking account without paying fees. For that use, circle has been great. I'm curious what the fear is? If anything I saw this news as a good thing. It seems to me that what bitcoin really needs is adoption, and that means we need merchants. Merchants need stability. If we can't give them a stable exchange rate, then giving them an app that isolates them from the volatility should help adoption. So what's the danger here?
September 20, 2015, 09:28:35 PM
I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.
I mean really, it's the only option we have, especially if you live in the US like I do... but hopefully another site will come out and challenge circle, idk how they would do against government... probably not too good I'm assuming lol.
September 20, 2015, 09:25:52 PM
I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.
Just shop elsewhere. They only operate in one country and there's no shortage of other options.
September 20, 2015, 09:10:36 PM
I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.
September 20, 2015, 04:36:40 PM
I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra
That's an interesting possibility. I wonder whether their direction would gradually change to putting BTC deep in the background and just market themselves as a super efficient payment system. It slightly defeats what that pointy-headed baldie has been talking about but there's probably a load more money in it.
September 20, 2015, 03:29:01 PM
I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra
Me likes
September 20, 2015, 02:39:03 PM
I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra
September 20, 2015, 02:29:14 PM
It's nice to see that Circle is ok with being regulated, and that they have been approved. Interesting times ahead
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