Title: These people should check out bitcoin Post by: Erdogan on August 08, 2014, 11:17:47 AM People that is refused bank and payment services (not for bitcoin trading).
Syrian foreigners in UK, HSBC: http://www.independent.co.uk/news/business/news/exclusive-shameless-hsbc-shuts-syrian-refugees-bank-accounts-in-britain-9655838.html (http://www.independent.co.uk/news/business/news/exclusive-shameless-hsbc-shuts-syrian-refugees-bank-accounts-in-britain-9655838.html) Please follow up with other examples. Title: Re: These people should check out bitcoin Post by: franky1 on August 08, 2014, 11:29:07 AM HSBS should be sued for racism.
the solution HSBC should have done was to downgrade customers (of sanctioned countries) to bank accounts that do not allow international wire transfers to reduce the risk. Not close their accounts, as that is racism and not risk management. same goes for bitcoiners. if banks only allow national wire transfer but not international, then funds stay in the nations banking system and banks can easily identify recipients and the risk will be zero. after all, ALL bank account holders have to produce ID and proof of residence when getting a bank account so as long as funds move WITHIN a national banking system, the banks can easily do their KYC due diligence. Title: Re: These people should check out bitcoin Post by: ForgottenPassword on August 08, 2014, 11:37:16 AM HSBS should be sued for racism. the solution HSBC should have done was to downgrade customers (of sanctioned countries) to bank accounts that do not allow international wire transfers to reduce the risk. Not close their accounts, as that is racism and not risk management. This kind of thing happens way too often: http://www.motherjones.com/politics/2014/05/operation-chokepoint-banks-porn-stars http://www.washingtontimes.com/news/2014/may/18/targeted-gun-sellers-say-high-risk-label-from-feds/?page=all http://wikileaks.org/Banking-Blockade.html http://en.wikipedia.org/wiki/Operation_Choke_Point It seems that governments simply tell banks not to provide services to customers that they don't like, for whatever reason. The banks don't even have to give you the reason why they are closing your account, and you usually won't be able to go to another bank because they've put you down on a "no banking services" database. An easy way to punish/supress law-abiding people/businesses just because you don't like them. Title: Re: These people should check out bitcoin Post by: Erdogan on August 08, 2014, 12:00:35 PM excellent examples
Title: Re: These people should check out bitcoin Post by: franky1 on August 08, 2014, 12:04:36 PM i know they are discriminatory*. luckily my bank loves me, but if they ever closed my account due to bitcoin id love to take them to court. After all, there is no law to say that we bitcoiners are not our own 'ethnic group'**. as we are a community of people with our own currency.
luckily i think i have a while to look at the legality of doing such, as im not 100% sure on defining bitcoin as a ethnic group. but it seems plausible, thus far. as i say there are no laws to say we are not a ethnic group as its the people that decide as such (human rights law). but putting law aside and thinking about legal statutes instead. i will have to see how they 'legally' but not 'lawfully' define ethnicity in the case of bank policy. * http://en.wikipedia.org/wiki/Discrimination Quote Discrimination is action that denies social participation or human rights to categories of people based on prejudice. This includes treatment of an individual or group based on their actual or perceived membership in a certain group or social category, **http://en.wikipedia.org/wiki/Ethnic_group Quote An ethnicity, or ethnic group, is a socially-defined category of people who identify with each other based on common ancestral, social, cultural, or national experience.[1][2] Membership of an ethnic group tends to be defined by a shared cultural heritage, ancestry, myth of origins, history, homeland, language (dialect), or even ideology, and manifests itself through symbolic systems such as religion, mythology and ritual, cuisine, dressing style, physical appearance, etc. social group: checkculture: check symbolic systems: check ideologies: check Title: Re: These people should check out bitcoin Post by: Neg on August 08, 2014, 12:13:09 PM HSBC is a terrible bank involved in all sorts of terrible practises such as money laundering and war profiteering. Bitcoin can also be a great tool to people who cannot get bank accounts.
Title: Re: These people should check out bitcoin Post by: franky1 on August 08, 2014, 12:31:20 PM HSBC is a terrible bank involved in all sorts of terrible practises such as money laundering and war profiteering. Bitcoin can also be a great tool to people who cannot get bank accounts. but even with bitcoin, there is still the barrier to entry. trying to swap the FIAT that the bank is withholding, to then convert it into bitcoins is not as easy as buying a loaf of bread. if you dont have an account in the first place, trying to buy bitcoin is much much harder to achieve. and if the rebuttle is to buy a miner and mine bitcoins instead, again you cant buy a miner if you dont have a bank account to buy online or the bitcoin, which again,, blah blah blah. bitcoin needs to remove the barrier to entry. luckily UK has zipzap (a company that accept 'paypoint' payments) which accepts bank notes. but still not cost effective. Title: Re: These people should check out bitcoin Post by: Neg on August 08, 2014, 12:42:13 PM HSBC is a terrible bank involved in all sorts of terrible practises such as money laundering and war profiteering. Bitcoin can also be a great tool to people who cannot get bank accounts. but even with bitcoin, there is still the barrier to entry. trying to swap the FIAT that the bank is withholding, to then convert it into bitcoins is not as easy as buying a loaf of bread. if you dont have an account in the first place, trying to buy bitcoin is much much harder to achieve. and if the rebuttle is to buy a miner and mine bitcoins instead, again you cant buy a miner if you dont have a bank account to buy online or the bitcoin, which again,, blah blah blah. bitcoin needs to remove the barrier to entry. luckily UK has zipzap (a company that accept 'paypoint' payments) which accepts bank notes. but still not cost effective. The difficulty in getting bitcoins obviously depends on your location, but it's going to get easier and easier over time as they're will be many services popping up that will trade/exchange cash for bitcoins and vice versa, and I wasn't going to suggest mining hehe. Title: Re: These people should check out bitcoin Post by: Ron~Popeil on August 08, 2014, 01:37:08 PM HSBC is a terrible bank involved in all sorts of terrible practises such as money laundering and war profiteering. Bitcoin can also be a great tool to people who cannot get bank accounts. but even with bitcoin, there is still the barrier to entry. trying to swap the FIAT that the bank is withholding, to then convert it into bitcoins is not as easy as buying a loaf of bread. if you dont have an account in the first place, trying to buy bitcoin is much much harder to achieve. and if the rebuttle is to buy a miner and mine bitcoins instead, again you cant buy a miner if you dont have a bank account to buy online or the bitcoin, which again,, blah blah blah. bitcoin needs to remove the barrier to entry. luckily UK has zipzap (a company that accept 'paypoint' payments) which accepts bank notes. but still not cost effective. The difficulty in getting bitcoins obviously depends on your location, but it's going to get easier and easier over time as they're will be many services popping up that will trade/exchange cash for bitcoins and vice versa, and I wasn't going to suggest mining hehe. Even in my rural mountain town there are quite a few sellers within a reasonable driving distance on local bit coins. I often pay an additional premium just to avoid using the banking system. Title: Re: These people should check out bitcoin Post by: counter on August 17, 2014, 07:34:40 AM When people will realise the advantages in using cryptos, the phenomenon will be unstoppable. Exactly it's like everything has it's place and time to shine and the future is clearly about all things Crypto. Everyone should be immersing themselves into crypto scene and soaking up as much as they can mentally and physically. The people the OP mentions should be introduced to Bitcoin and their should be a news stories and blogs detailing the experience IMO. Before you know it people won't need to be directed to Bitcoin they will flock to it instinctively. |