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The exchanges avertise that they are uk based but name one that has a UK account ,I cannot fin one . I'am not sure what UK laws they have to abide by but no-one seems to bank in the UK . I cannot understand why since all the global banksters have a presence in London,and they are all self regulating.
Does anyone know why exchanges in bitcoin are afraid to bank in the U.K.?
Out of the ones I have mentioned in the original post, Bit121 are UK based, using a Payment Service Provider to circumnavigate using a UK bank, so Pacnet, (the PSP) deal with Barclays, their UK bank. See this article for more info on that particular example: http://www.coindesk.com/barclays-bank-uk-bitcoin-exchange-bit121/I have personally used this service and can confirm you deposit your £ into a UK bank account. But it seems, they (or Barclays) are sidestepping something here. It does seem strange that London and the UK are a beacon of banking, yet they are so restrictive and stringent with its laws. Well, actually, I think that statement may have just answered itself.
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Fellow UK Bitcoiners,
We are all aware that buying bitcoins in the UK is not as easy as it could be, rather cumbersome and quite pricey compared to other locations around the world.
It is exciting to see the emergence of new UK based Exchanges such as Coinfloor, Bitprice, Bit121 and IBWT, however when it comes to P2P exchanges, we've noticed the current duopoly of Localbitcoins and Bitbargain is not as attractive to buyers as they once were.
What can help make this situation better for buyers as the price premiums can sometimes be out of control and quite off-putting.
Look forward to hearing other UK Bitcoiners thoughts on this.
Cheers.
The issue with BTC exchanges in the UK is the stupid laws they have they have to comply with. Personally I'll stick with OTC or LocalBitcoins as it eliminates the chance of the exchange magically disappearing (with the BTC) like has happened pretty much every time in the past... The only problem with OTC is that it is difficult for noobies and joe bloggs public to use and trade coins. Localbitcoins has been and still is a great service to the BTC community in the UK, it's the inflated prices at times, considerably higher than the prices offered on the exchanges, which is off putting to many regular UK buyers of coins. But as you mention, this, along with Bitbargain, are what we have to rely on for the time being. The possibility of exchanges disappearing are frightening, even when Bitstamp 'froze' for a week recently, it was enough to cause many people sleepless nights with other BTC sites around the globe dropping like flies and doing a Houdini disappearing act.
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just sell your btc for £ on localbitcoins.com, easiest way without getting zapped with fees ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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We still have a long way to go in the UK but closing the book on this prior classification by the HMRC on bit coins being a single purpose voucher is undoubtably a good thing for bit coin businesses in the UK.
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Fellow UK Bitcoiners,
We are all aware that buying bitcoins in the UK is not as easy as it could be, rather cumbersome and quite pricey compared to other locations around the world.
It is exciting to see the emergence of new UK based Exchanges such as Coinfloor, Bitprice, Bit121 and IBWT, however when it comes to P2P exchanges, we've noticed the current duopoly of Localbitcoins and Bitbargain is not as attractive to buyers as they once were.
What can help make this situation better for buyers as the price premiums can sometimes be out of control and quite off-putting.
Look forward to hearing other UK Bitcoiners thoughts on this.
Cheers.
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Thanks for sharing this ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Was really interesting to watch.
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am getting an IP block here in the UK.... #bitstampdown ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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getting the same problem, 'owner has denied access to the site'... ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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We will have to wait until all the hearings are concluded to see which way the opinion will sway, it won't be as smooth as flicking the traffic lights from orange to green unfortunately.... ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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yeah badgateway messages and the trading engine seems to have been stagnant yesterday for some time..... eeekkkkk ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) hopefully its not the signs of impending doom
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more exchanges should hopefully equal a more competitive war on fees!
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McKillers ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Plausible? It's almost definite a military strike of some sort will take place.... the fact that Obama has come out and mentioned that he ought to go back and ask congress to get their opinion means nothing. They will strike without going to congress. A big F@CK U to the very essence of democracy in itself.
What happened to governments being elected on democratic values? The opinions of the american people dont even come into the picture. How sad. The politicans whom the american people 'trust' are sadly untrustworthy.
Iraq, we were fed the same b.s Libya, much of the same. Syria... here we go again... same olde b.s being fabricated and green lights being given regardless of what the majority of people think.
Democrafuckingwhat?
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Long time a go the military was called the war ministery, now it is called defense, but tomorrow it will be called the love department. We currently only kill people with benign bombs, for their own good. Yeah, and it is adorable to sacrifice a few people for justice.
Well said ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) And that is only the government aligned military factions. The real b.s lies within the 'private' factions that align themselves alongside governments, they can swim freely with impunity and outside the guise of governments. Paramilitaries in Colombia are probably the best (worst ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) ) examples, funnily enough, partly propped up by US funding, (Colombia is the 3/4th largest benefactor of US aid). But then you have in all the US wars, 'private' contractors, mercenaries, armed factions that do the dirty work, yet are not accountable for their actions, because they are inherently 'rogue' forces. Cue, the 'rebels' in Syria.... the 'rebels' in Libya....
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Just sent u a PM ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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It will rise and rise, slowly but surely, they will be a couple more crashes, inevitable due to a smorgasbord of reasons, however watch the incremental rise through August, up past 130$.... ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif)
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Was it a red top paper or something with a little bit more credibility?
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UK is notoriously harder than most places to buy bitcoins. If starting out, just bounce between www.localbitcoins.com and www.bitbargain.co.uk. You can forge relationships with people int he community and it is an easy experience to get your hands on some coins... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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The most dangerous terrorism I know is financial terrorism. It destroys the existence of millions of people and families all over the world.
Correct. What we often downplay, or downright ignore in this whole farce of 'THE WAR ON TERROR' is who are the evil ones behind the terror orchestrating it. The media love to focus on the latest suicide bomber individual who has wrecked havoc and murdered innocent lives, (they are indeed evoking terror and are the scum of the earth) but we very very rarely get a glimpse at the most dangerous and evil terrorism of all - STATE SPONSORED TERRORISM. State sponsored terrorism is far far worse than individual acts of terror. Sadly they dont quite get the same coverage and critical analysis.
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Gox has been getting pumped by the Govt and select authorities, yes it could do better with many of its PR issues but when someone is out to take you down, it's hard to remain the best service possible.
Theres external forces at play here, Gox are being broken down, bit by bit and where they have failed, Bitstamp will look to improve.
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