MPOE has been trustworthy as far as I can tell. Their platform is a pain in the ass to use, but they've been honest thus far  |
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Because banks manipulate markets.
Unless you can provide some specific examples, that statement is about as relevant as "Because banks give you savings accounts." Banks can't manipulate things as deviously as many people think. Seriously? Seriously. Well, they can seriously fuck things up and need bailouts. But they don't quite have the international power to manipulate prices and or affect economy the way Rob E seems to assume. They do try. Then we bail them out. Did you miss the LIBOR news? Have you not payed attention to the last 100 years of monetary policy? On Topic: I will quote myself from an earlier episode of OMG SLEEPING WITH THE ENEMY news: This is seriously awesome. I wonder how long the establishment will tolerate you leveraging their ancient and hard won infrastructure to beat them at their own corrupt game.
Rassah's not saying that banks don't manipulate markets. He's saying they are less able to manipulate markets than many people think, and I agree with him on this. Also, people need to be careful to distinguish between "manipulating markets" and "influencing markets". |
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It's kind of like a bunch of slaves breaking out and then running straight back because they were so brainwashed they didn't even recognize freedom.
nice Or it's like a bunch of slaves breaking out, and then running back with tools to free everyone else instead of hiding in the wilderness. |
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I don't understand people who dismiss this news.
Half-measures == Half-reached goals. To get anywhere, you have to get halfway there first. Unless you're a quantum particle I suppose Do you really support bitcoin users getting bailed out by taxpayers if bitcoin-central fails in the marketplace ? This is abhorrent. What you are describing is an intrinsic problem with modern banking, not with Bitcoin. A Bitcoin exchange partnering with a bank in order to make Bitcoin more useful and convenient is no more a betrayal of ideology than for someone to trade one bitcoin for a fiat piece of paper. I'm sure you have traded some bitcoin for fiat at some point, yes? If so, may I ask, do you really support the global militant empires which are based on the fiat paper to which you just gave value? |
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Oh my God are there 80% lunatics on here .. i see hundreds of people cheering and 2 3 4 5 people speaking out . it's like an obama election .
Rob E... don't be a fool please. You're freaking out because one exchange partners with a bank. This does little to corrupt any privacy or "statelessness" that you seek, and does much to bring the world of normal people into Bitcoinland, where, upon finding an amazing new monetary system, they are likely to start abandoning the banks you hate so much. You have too little confidence in Bitcoin as a decentralized system if you think it is made weaker by attaching one part of it to the banking system. I wonder if you would've similarly freaked out when MtGox enabled people to send fiat to it via wire transfers from banks? That, even more than this announcement from Paymium, enabled Bitcoin to start interacting with the normal financial world. And indeed, Bitcoin is far stronger now because of it. If you think I'm a lunatic, you're welcome to counter what I'm saying here. |
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The reason some people are querying that you allow US customers is FATCA. It isn't correct that you aren't subject to US regulations. Yes, obviously, in a reasonable and just world that would be the case, however the US is trying to change that as hard as possible as it appears that they are succeeding, FATCA implementation is proceeding at the moment - though it's not yet in force. FATCA forces non-US financial institutions to follow US laws in two ways. Firstly, they are busy signing agreements with different governments that will mean financial institutions are forced to provide customer data to the IRS. These are called "inter-governmental agreements", and yes France is signing one: http://www.stepjournal.org/journal_archive/2012/step_journal_june_2012/fatca_in_the_frame.aspxThe second way is far nastier and more insidious. They are planning to impose a recursive "passthru" 30% withholding tax. That means if you do business with the USA you must follow US law and if you don't, your US assets will be taxed at 30% (essentially bankrupting you or making you uncompetitive). But any business that comes into line because of that must also impose the 30% tax on any other financial institution they deal with, even if that institution does not interact with the US in any way shape or form! Because the financial system is a fully connected graph, this essentially means that US law spreads through it like an infection and eventually every financial institution will be forced to comply or face crippling sanctions from other financial institutions they interact with. This happens even in cases where US law conflicts with local law. Dave, as you're the one exposed to this stuff, please make super sure you have fully researched this topic. The US will force you to follow its rules whether you like it or not and the French government will not save you - this is not a paranoid hypothetical but a phenomenon that is already happening. Your best bet is to do what all other financial institutions are doing and deny access to "US persons" (citizens, residents and people who have held a green card in the last 10 years, iirc). This doesn't exempt you from FATCA but it minimizes the amount of paperwork and reporting to the IRS you'll have to do. Mike Hearn... you're such a smart guy, but everything you say depresses me  |
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I don't understand people who dismiss this news.
Half-measures == Half-reached goals. To get anywhere, you have to get halfway there first. Unless you're a quantum particle I suppose |
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I hate central bank charades as much as the next guy, but how the hell is bitcoin supposed to grow without interfacing with any other financial systems?
That's a great question for Satoshi! Perhaps, he will make a cameo, and explain how he planned for the Bitcoin infrastructure to avoid being bought out by the current banking systems he identified as the problem in the beginning. Maybe he already explained; have to search his writings again... ...unless of course, he was a banker trying to make a killing by starting the whole thing...  Nah; that just conspiracy talk...   Nothing has been "bought out by the current banking system." To even suggest that Bitcoin can be bought out betrays a gross misunderstanding of how it operates. This French exchange, to the extent that it has partnered with a banking institution (again, not the same as being "bought out") has simply given you one more option in the manner by which you utilize Bitcoin. No options have been taken from you, only given to you. And as I said before, integration with the traditional financial world is A) inevitable, B) important, and C) not something to be feared. Everywhere integration happens, Bitcoin becomes more useful, and more valuable. Imagine if, today, Bitcoin was integrated with every financial system in the world. You'd buy your gas with it, you'd pay your mortgage with it, and you'd be paid by your boss with it. By this point, Bitcoin will have won, and we can all open a bottle of champagne (paid for with BTC) and celebrate, because the fiat system will have collapsed. We should be encouraging integration wherever possible, and indeed that is what I spend much of my days trying to accomplish (90% of what BitInstant does is build these integrations). I'm thrilled with this new development in Europe, it's amazing news, and wonderful precedent. |
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"In the 16 years we have been coming to these conferences, there has been no global warming." So... the conferences are working? I would have thought getting all that hot air in one place would have had the opposite effect. Zing! |
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So the other side of the (bit)coin is that the banksters and the eurocrats will know how many bitcoins you have in there, how do you trade them (capital gains? repent!) and above all they will be enabled to lock your bitcoin-backed credit card if you end in some black list of them.
Thanks, but no thanks.
After all these efforts and complications to get out from the banksters' matrix, it is ironic to get back at square 1.
Very good point. No, it's not a good point. Integrating Bitcoin with the normal financial world is not "going back to square 1". In all cases, you have the option, once in Bitcoin, to be apart from that world. The integration is simply an inevitable (and important) step to help the rest of the world climb on to our superior system. Every integration between Bitcoin and the old systems brings those old systems closer to death, because once attached, Bitcon begins to siphon off economic activity. It would only be "going back to square 1" if, somehow, were were now all forced to use this French exchange and comply with banking laws there. That would be bad, but that is impossible if you understand how Bitcoin works. Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior. |
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We need more stable/legal exchange.
No, we don't. We need other ppl use Bitcoin as a medium of exchange for goods, not for other currencies. Ahhh but what if currencies ARE goods? (hint: they are) |
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Baller!!
Great job guys I'm very excited to see how this develops.
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BitInstant is sponsoring the CryptoParty tonight in Brooklyn. Learn how to use such subversive systems as Tor, CryptoCat, and of course, Bitcoin! I'll be attending, and Charlie Shrem (Yankee) may be as well. http://www.alphaonelabs.com/cryptoparty-nyc/Please RSVP through that site. |
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BTC will be used via NFC.
Walk by the cash register, swipe your phone, BTC is paid. Easy.
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So even though the price has been drifting higher ever since the WordPress announcement, you seem to think that your 700btc purchase is the reason it went up during the past 24 hrs? Don't overestimate your effect on the market  |
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