Bitcoin Forum

Great Britain made an epic mistake about 150 years ago. When the United Kingdom, not Germany, not the United States, was the original home of the automobile’s innovation. This is not well-publicized in Western culture because of the epic failure in the story, and how swiftly the U.K. acted in its own demise. Instead of welcoming the automobile as a technological marvel that’ll not only provide freedom of travel to the masses someday, but also a massive industry they could cultivate domestically, they shunned the automobile. Instead of a technological advancement, British regulators saw the automobile as rolling machines of death to be feared and legislated out of the country altogether through the “Red Flag Laws”, or “Locomotive Acts” of the 19th century.

https://www.cryptocoinsnews.com/london-looks-become-future-global-financial-hub-bitcoin/

Nice to see Bitcoin gets taken serious instead of countries and companies trying to prevent people from using it.

I hope they put their plans to action and not end up in just being a plan. With the right people on board it must work out well.

i think they will wait until the regulation before doing this move, they are on track for doing both things

talking about this news http://blogs.wsj.com/digits/2015/03/18/u-k-to-regulate-bitcoin-exchanges/

It seems bitcoin is not only an alternative, but maybe it will be a valid option to replace FIAT value.



It is almost impossible to regulate bitcoin but I am not an expert of politic and laws.

London used to be a financial hub with many pragmatic players, so catching up with bitcoin seems to be quite natural approach :).

I wish them best, but london and britain in general is very expensive to run business :|

Reminds me well on what I used to learn about management principles. Companies will only survive if they adapt quickly and innovate to stay ahead in competition. Bitcoin is no exception in this case.

Bitcoin is very hard to regulate when you think of it globally. Bitcoin is very easy to regulate when you think of it nationally. What I mean by that is that if I have my bitcoin and I need to convert it to fiat for whatever reason, that can be regulated aggressively. But if I just want to send my bitcoin around the world, that's much harder to regulate.

The fact that the UK wants to become a hub for bitcoin development is a really wonderful opportunity. Other countries should look to the UK and try to emulate it because advances in financial technology will only make us all far better off.

London is a very nice city much butter than others in EU (for example Italy, spain and French).



I do not know how it is the cost to open a standard companies, but is it more than one in USA?




Bitcoin in this case it may be the solution to all the IT companies but why not also a solution for a lot of other companies not related with the technology/informatic.

It is true UK is showing friendliness to bitcoin. But, I wonder, how long they'll continue. AFAIK, BitStamp & CEX.io are both registered from London.

Also Blockchain.info if I'm not mistaken. The UK is also friendly to setting up business... way better than other parts of Europe at least.

wait it shows that its from luxembourg when i get on it or that does not mean that its in there?

Here I was thinking that Amsterdam would be the next bitcoin capital, and now London is going to be the next hub. Whatever and wherever the bitcoin makes the campaign, all I care is about the welfare the bitcoin community.

Waiting for more State.... bitcoin can really help a lot of companies to get out from the economic crisis.




I hope also Greece will start "to use" bitcoin, maybe as a good alternative.

Hmm... you made me doubt there for a second. Their SSL certs may be from Luxemburg, but I know they were at least started in the UK and pretty sure they operate from there http://blockchain.com/about/.

The reuters's article:

London, center of the $5-trillion-a-day global currency market, now wants to be home to a controversial upstart - bitcoin.
...
Backers of bitcoin praised this for lending legitimacy to the currency - which unlike traditional money has no printed form and remains outside the control of central banks - without stifling innovation.

"London has been the home of financial innovation for hundreds of years," said Nicolas Cary, co-founder of Blockchain, which provides bitcoin data and "wallet" software for storing the currency. "It would be a historical mistake not to make this the home of digital currencies. There's an incredible amount of talent and experience here."

Just over 14 million bitcoins are in circulation, worth around $3.1 billion at the current exchange rate of around $220 each.


http://www.reuters.com/article/2015/04/15/us-currency-bitcoin-london-insight-idUSKBN0N622320150415

If any banks were willing to play, the UK would already be feverish crypto hub. It doesn't look like that attitude's changing any time soon.

The government and tech players can make all the noise they like but nothing'll happen if a business isn't permitted to actually function.