Topic: We need the Govs and the Banks in the Bitcoin boat (Read 1222 times)

i think bitcoins be more in systems populars integrations in future

I am in the Bitcoin boat mostly because banks and governments would never do this.

Swedish bank freezes customer’s account after she sells 5 BTC
http://www.coindesk.com/swedish-bank-freezes-customers-account-sells-5-btc/

Swedbank recently froze a customer’s account after it found out about her selling five bitcoins on a digital currency marketplace.

Sandra Bröms Hopkins said the Swedish bank froze her account a few days after she sold her bitcoins on LocalBitcoins.com.

“I sold the bitcoins on 4th September 2013. I could see that the money had been deposited into my bank account. When I checked my account a few days later I could see that it was blocked and I couldn’t do any transactions on my account,” she explained.

Bröms Hopkins went on to say she was particularly frustrated that the bank didn’t try to contact her before freezing her account.

On 11th September, her account was still blocked, so she wrote to Swedbank to ask for an explanation. The bank responded a week later asking about the transaction she had made on LocalBitcoins.com.

“Then a guy from the bank called me. He didn’t say it in so many words, but in between the lines he advised me against doing business in bitcoins because of its anonymity. After his call I felt a bit like a criminal,” she said.

The bank reopened Bröms Hopkins’ account 15 days after they imposed the freeze.

A spokesperson from Swedbank said:

    “At present it is not prohibited for our customers to shop with bitcoins. However, each case is being considered individually.

    Swedbank monitors the development regarding bitcoin as a recognized/approved currency.”

Bröms Hopkins doesn’t think there is currently a very big appetite for bitcoin in Sweden. She said most people she speaks to about digital currency have heard about bitcoin, but that’s as far as their knowledge and interest goes. “Sometimes I get the feeling that it’s only me and my family who are bitcoin fans.”

She could be right – there are only a handful of people located in Sweden who are currently selling bitcoins on LocalBitcoins.com. However, Frank Schuil, CEO of Swedish exchange Safello, told CoinDesk earlier this week that “innovation is embraced rather than rejected” in the country so he believes bitcoin could yet flourish in Sweden.

Allright, I changed my mind, banks/govs are shit, we don't want them in the bitcoin boat.I t's now a war, bitcoins against banks...

http://www.coindesk.com/capital-one-closes-bank-account-bitcoin/

Capital One has closed a bank account belonging to a company that produces metal medallions after it started selling commemorative silver and copper bitcoin coins.

Rob Gray, CEO of Mulligan Mint, Inc said Capital One gave him no warning before it closed his company’s bank account. He has since contacted the bank, but isn’t satisfied with its response.

“Nobody seems to know who makes decisions there, the local branch gave us nothing, merchant services told us our account was cancelled for selling bitcoin and they were not interested in discussing the issue further,” Gray said.

Mulligan Mint does not accept bitcoin as payment for any of its products, the only connection with the digital currency is that it sells two types of bitcoin medallion. Both feature the bitcoin currency symbol on one side, set on a background of a computer circuit board.

They would sank the boat..

Bitcoin should thank governments and the banking system. Without them the energy to think, code and maintain the network would have never had happened, thanks to their obvious multiple abuses. Obviously this is an experiment, a very young experiment. I am not an expert but there are lots of things bitcoin replaces. The whole banking system is not going to die of course, but I could predict a bitcoin network being the norm and a banking system becoming what the telegraph was, still being used for the last time in India not too long ago, of fax machines.

No one cares about making their emails being compatible with fax machines.

I don't think they can make money from it. Everything they currently do has been replaced by the Bitcoin software and it's mining network. Derivatives? Why would you buy a derivative? Why would you trust the seller of a derivative? Just buy BTC, it's direct access to the asset. Most assets are heavily regulated, and you have to jump through hoops to get your hands on them. Bitcoin is the neo open access asset.

So maybe both the Govs and the Banks come into the Bitcoin boat because they think they can make a profit from it.

If the Banks sell Bitcoin derivates they are probably already in the boat.

On paper everything looks good and rosy. Governments and banks will have a say about bitcoin. Actually they never stopped talking about Bitcoin, never in a good way. Things are a bit changing because unless for a hard fork they cannot control the network. They are open to deal with Bitcoin. It is not like we have a choice.

But we need to know with who we are dealing with first. And sadly they are all from the same mold.

I give you John Kerry as an example (he is not the only one, from D to R)

(written Fri Nov 18, 2011 11:23pm http://ibankcoin.com/news/2011/11/18/john-kerry-is-a-monster-stock-trader-with-perfect-timing/)

BigGovernment.com has obtained records of Massachusetts Democrat Senator John Kerry and his wife Teresa Heinz’s stock portfolios that show almost perfectly timed pharmaceutical stock trades during the Obamacare debate, which fattened their already enormous personal fortune.

The documents further support allegations of suspicious trading leveled during Sunday’s 60 Minutes report about the explosive new book by investigative reporter and Breitbart News editor Peter Schweizer, Throw Them All Out.

Sen. John Kerry’s position on the powerful Senate Finance Committee’s Health Subcommittee gives him direct access to critical information regarding health care policy. In July 2009, pharmaceutical industry representatives met with key members of Congress to flesh out the Obamacare bill. Then, in November 2009, with the bill’s passage was looking more likely, the Kerrys’ portfolios reflect a drug stock buying spree.

First, $750,000 worth of stock in drug maker Teva Pharmaceuticals was added to their portfolios at around $50 a share. Once Obamacare passed, the value of the stock rose to $62 per share. Subsequently, in 2010, a portion of Teva holdings was dumped from the Kerry portfolio, resulting in tens of thousands of dollars in capital gains (exact profits are unclear because politicians are only required to report ranges, not exact dollar amounts).

You are absolutely correct. The best way to get politicians on our side would be to give or sell all members of national parliaments a couple of bitcoins. This way, they would have an economic incentive in removing regulatory hurdles since this would increase the value of their bitcoins.

I think it's important that everyone gets in this boat.

No. They're sinking, and there's no room to get them into the BTC emergency rescue boat.

You Sir/Maddam,

are bat shit insane.

Banks and governments will collapse way before bitcoin. We have to deal with them, only to move their political currency into a currency political views cannot influence.
Bitcoin is incompatible with the status quo of some people deciding on the values on things. Don't forget the experiment is supposed to last generations. The first generation may be facing the army and intimidation. Bitcoin will keep on going.

I'd like to see just an handful of govs in the Bitcoin boat, but not the banks. All I need actually is a Bitcoin ATM

If a government endorsed Bitcoin as legal tender, the value of each bitcoin would shoot up by 10s of 1000s so I'd love to be wrong on this.  But my understanding is that governments and banks like the ability to devalue their currency from time to time in order to boost economic growth.  Also when inflation is high, they want to be able to reduce the money in circulation.  Bitcoin prevents both of these functions so I doubt any state will ever endorse it. 

Not sure there's much point in getting them involved.

What can they usefully add to Bitcoin? Nothing. What, conversely, can they take away from it? Also nothing.

Hi Everyone

I'm not a politician, but I'm political interested.

I think it's important that the Governement and Banks should be on the Bitcoin boat and not against it.

There will be a ramp-up against Bitcoin, because it's getting more and more popular and it's in competition
against traditional systems.

While we all know it's impossible to shut Bitcoin down, the governements could put stones in our way, driving Bitcoin back to an
underground currency.

I just like to know what your opition on this topic is and where the hurdles and challenges are.