Bitcoin Forum

Think about the "Send Bitcoin" button appears on the ATM, online account. ???

Why would you want a "government bank" to hold your money?

simple.

when the legal status of bitcoin is clarified in a positive direction.

Then bank start accept bitcoin.

They have no reason to do it before. They earn enough with their business as it is. Why accept before and risk the bank licence? For what? There is no reason to take that risk.

Most of the bank in America is owned by private shareholders. They are NOT "government" bank. 

What are the odds that some offshore bank starts accepting deposits in bitcoins? What are there incentives for doing or refraining from this?

An off shore bank with an anonymous ATM-card would be heaven.

they risk no bank licence. and they can (they must not plan it but they can do it always) run away with all bitcoins. so for a offshore bank with small traditional income bitcoin is perfekt.

its a chicken & egg theme...

i would not trust a offshore bank, just for some % rent and not anymore responsible for my wallet.dat.

if someone has this trust, its ok for me. i say good luck to him. have a nice time - but dont cry in my ears if it fails.
 


yes that would be fine. instant bitcoins, no risk.

Ok let me rephrase. Government controlled banks.

Never probably, it's no in their interest, maintaining the actual status quo. You would kill yourself one day if the life of your human fellows depended on it ? Please note the government we have in our times works more like a machine, based on rationale not feelings.

I think it is more likely that an existing Bitcoin exchange will become a government licensed bank rather than the other way around.

do you ever think mtgox would go this route?

that would give bitcoin a boost !

physical banks don't like competition or what we call "free market"

When they have already lost the "war" (which hasn't even begun).

Bitcoins are a threat to their ability to siphon money from the economy through both inflation and fees.  They will never give up that never ending revenue stream.

So expect them to attack it both in public opinion and legislation if it becomes a threat.  I mean an all out offensive involving talking heads spreading FUD in nightly "news", paid lobbyist getting crooked politicians to make it illegal/difficult.  Maybe even actively orchestrating bitcoin scams, ddos attack, and direct attacks against the blockchain to show the public just how unsafe it is.  Modern fractional reserve banking is a license to "print money" at the expense of everyone else in the economy.  A giant money funnel where wealth transfers only one way.  People are insane if they think they will give that up.


If a bank starts accepting Bitcoins it means we have already won and further resistance by the banks is futile.

+1  :D

http://www.moneytrendsresearch.com/goldman-sachs-threatens-small-community-bank-for-banking-with-ows-protestors/  :o

Some of those small community banks will soon have to choose a side. Some will go the Bitcoin route. :-X

It would cost them millions to fix their fucked up system to play by the rules. I think they prefer the wild west ways where they can do what they want.

We are the BitBorg.
Abolish your currencies and surrender your banks.
We will add your economical and technological distinctiveness to our own.
Your economy will adapt to service us.
Resistance is futile.

I think it is possible that any of the exchanges could do this,  but it takes A LOT of money.
At this time,  I doubt any of the exchanges have enough money to do this.

I think geting a Credit Union to accept/exchange bitcoin would be more likely.

Of course, they would still have license revocation concerns.

That's like asking when will a real blacksmith start making sport cars. In the US, banks have no constitutional basis for existence. There is no reason that Bitcoin could not be adopted as official currency. It can be legally issued by the Treasury department simply by registering addresses.

Roger,

My problem with that is that the system is somewhat rigged.   I believe that no matter if an exchange or a bitcoin bank did meet the qualifications it still would be denied...  they are not going to allow Mt.Gox or Flexcoin to become an "FDIC member bank"

Best regards,
Roger

+1

We have to fight our way through, there is a very high probability that it will not be possible to cooperate with the establishment.
Bitcoin is the new gold standard. Establishment hates gold, because it is harder to manipulate it and steal from general public using inflation.

I think it is good that flexcoin could never become a FED back (if it was going to I would more my coins out). I think the bitcoin community holds business owners to a high standard, than the government ever could.
As a community we need to look within ourselves to solve problems that we see around us. This idea of running to the “STATE”, the entity that is the reason why bitcoin was created, is dangerous to bitcoin.
The need for money transfers, without the “STATE”, can be solved by ingenuity.

Incidents at mtgox:
- No password brute force protection. People weren't recompensated.
- SQL injection.
- Leak of entire database.
- Using floats internally for orders.
- CSRF exploit. People weren't recompensated.
- Trying to partially blame us for discovering it after we spent all of 3 days trying to contact him (even rung a friend of his in France) before privately disclosing it to a trusted forum member to confirm.
- Intrusion and stealing of funds.
- Losing funds through using alpha bitcoin software.
- Not responding to reporters questions leaving the media to speculate.
... And more!

Mtgox is still the biggest exchange, and they kept their site up through these incidents when it should've been taken down until the problems were fixed.

when bitcoin.pl lost all their funds, they were up the next day and trading at 3/4 their previous volume.

Point is that people don't do shit. They will always keep using untrustworthy shoddy services. This posturing is all very well and nice, but a monopoly will keep dominating a market through either holding a first-entrant advantage (like bitcoin vs other future cryptocurrencies) or anti-competitve (http://en.wikipedia.org/wiki/Anti-competitive_practices) practices. Julian Assange (a guy that has read through thousands of leaked documents) agrees with me:

"Why is it necessarily a bad thing if there is only one efficient company in a particular sector?"

http://www.fff.org/freedom/fd0609e.asp

A BANK CALLed  OKPAY is accepting Bitcoins now!

https://bitcointalk.org/index.php?topic=51403.0;topicseen

Good to see more companies using Bitcoin but OKPAY isn't a bank.  They are more like Dwolla or Paypal or more distantly VISA/MC.

Just a small correction, that was bitomat.pl you are talking about.


Unfortunately that is soooooo correct. :(
This is the direct reason of why monopolies & shady buisnesses exist. Because they gained critical mass required for network effect (http://en.wikipedia.org/wiki/Network_effect).
And when "everybody" uses something, people just don't give a duck about the risks. Typical herd behavior (http://en.wikipedia.org/wiki/Herd_behavior).