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Title: Question... Post by: Jr65 on April 17, 2014, 02:07:03 PM I am very new to Bitcoin and have been spending a ton of time trying to learn as much as I can about it. Yesterday, I wrote what I thought was an innocent, friendly thread to get some feedback. Shortly post thread, I was pounded for being a "freeloader" because I am a Bitcoin holder, not a user. So before I ask my question....let me just say, "I come in peace, friends!" We all want the same thing...the moon. My question is a general one about Bitcoin companies and their banking practices. Why do major exchanges do their banking in places like Slovenia? Is there really that much regulation concern in the States or even in a place like Switzerland? It just seems risky and strange to me that such a brilliant phenomenon with incredible promise would rely on banking in such remote parts of the world. No offense to Slovenia but I would not want my money in their banks. If you have enough money, you even have to be careful of banking in the U.S. I think the FDIC only insures deposits up to 500k. Kind regards.
Title: Re: Question... Post by: uhoh on April 17, 2014, 02:10:45 PM I am very new to Bitcoin and have been spending a ton of time trying to learn as much as I can about it. Yesterday, I wrote what I thought was an innocent, friendly thread to get some feedback. Shortly post thread, I was pounded for being a "freeloader" because I am a Bitcoin holder, not a user. So before I ask my question....let me just say, "I come in peace, friends!" We all want the same thing...the moon. My question is a general one about Bitcoin companies and their banking practices. Why do major exchanges do their banking in places like Slovenia? Is there really that much regulation concern in the States or even in a place like Switzerland? It just seems risky and strange to me that such a brilliant phenomenon with incredible promise would rely on banking in such remote parts of the world. No offense to Slovenia but I would not want my money in their banks. If you have enough money, you even have to be careful of banking in the U.S. I think the FDIC only insures deposits up to 500k. Kind regards. Slovenia is not a third-world country! But I get your point. Trick is to get in and out quickly if you're worried. Incidentally, Bitstamp's bank is the Slovenian arm of Unicredit, an Italian bank. Title: Re: Question... Post by: bitcoinsrus on April 17, 2014, 02:15:03 PM I am very new to Bitcoin and have been spending a ton of time trying to learn as much as I can about it. Yesterday, I wrote what I thought was an innocent, friendly thread to get some feedback. Shortly post thread, I was pounded for being a "freeloader" because I am a Bitcoin holder, not a user. So before I ask my question....let me just say, "I come in peace, friends!" We all want the same thing...the moon. My question is a general one about Bitcoin companies and their banking practices. Why do major exchanges do their banking in places like Slovenia? Is there really that much regulation concern in the States or even in a place like Switzerland? It just seems risky and strange to me that such a brilliant phenomenon with incredible promise would rely on banking in such remote parts of the world. No offense to Slovenia but I would not want my money in their banks. If you have enough money, you even have to be careful of banking in the U.S. I think the FDIC only insures deposits up to 500k. Kind regards. Don't worry bro this is the internet. People don't think twice about calling you this and that. What difference does it make, its not like you will ever see any of us in real life or anything. Its probably easier to do it in remote places (banking laws etc). US has some exchanges (coinbase). They could have more if more people could raise hundreds of thousands to fund an exchange. And just read posts before you post something (many people ask stuff and you see replies etc) When I make a post, I try to be general because if I be specific (and I am wrong - like something I don't know what I am talking about) then people would call me on my bs. By the way, here are some cool sites so you could learn more and watch for yourself (to see what is going on) coindesk, bitcoinwisdom, btcpredictions, litecointalk, bitcointicker, bitcoinity, search google news and type in bitcoin (anyone have any other nice sites feel free to pm me thanks) Title: Re: Question... Post by: bigdave on April 17, 2014, 02:17:33 PM I am very new to Bitcoin and have been spending a ton of time trying to learn as much as I can about it. Yesterday, I wrote what I thought was an innocent, friendly thread to get some feedback. Shortly post thread, I was pounded for being a "freeloader" because I am a Bitcoin holder, not a user. So before I ask my question....let me just say, "I come in peace, friends!" We all want the same thing...the moon. My question is a general one about Bitcoin companies and their banking practices. Why do major exchanges do their banking in places like Slovenia? Is there really that much regulation concern in the States or even in a place like Switzerland? It just seems risky and strange to me that such a brilliant phenomenon with incredible promise would rely on banking in such remote parts of the world. No offense to Slovenia but I would not want my money in their banks. If you have enough money, you even have to be careful of banking in the U.S. I think the FDIC only insures deposits up to 500k. Kind regards. Screw them... there is no such thing as a bad question and we were all new to Bitcoin at one point. Bitstamp is now considered the flagship exchange since Mt Gox is gone. But the simple answer about banking is it all depends on where the exchange is headquartered. If you prefer dealing with US banks then Coinbase is probably your best bet depending on how you want to operate. I'm in the US and use both Coinbase and Bitstamp. There is also CampBX which is located in the US but I have not heard very many good things about them. The best thing to do before choosing the exchange you want to trade with is to do all the research you can on them. Google them, search for posts here on the forums and do you best to find the things that people like and don't like about them. It can be a big jump for someone new to Bitcoin but it can be very rewarding and fun as well. Good luck! Bigdave Title: Re: Question... Post by: jamesc760 on April 17, 2014, 05:01:12 PM CampBX used to be good and reliable but I haven't used it since I switched to CoinRnR which is very fast and reliable.
You will often receive conflicting and extreme views from the posts here on the forum. Please be open minded, positive and careful, as there are lots of scammers and fraudsters too. Watch out for fringe nutters who spout anarchistic ideology and conspiracy theories. Don't forget to have fun. Title: Re: Question... Post by: TERA on April 17, 2014, 07:40:35 PM Actually if I look Bitstamp's latest address on their website it is now the United Kingdom. When did that happen? Do they still use a bank in Slovenia even though they are in UK now?
Title: Re: Question... Post by: zoinky on April 17, 2014, 10:46:09 PM Actually if I look Bitstamp's latest address on their website it is now the United Kingdom. When did that happen? Do they still use a bank in Slovenia even though they are in UK now? http://en.wikipedia.org/wiki/Bitstamp |