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the climate of 'regulation' talk along with warnings about 'safety' around Bitcoin as it is does seem to lend itself to bigger interests trying to manoeuvre in the space to exert influence at a broad level, since they've clearly discovered the code is, in the words of Janet Yellen just the other day, 'difficult to regulate anyway'...
so i suppose if you mean there are interests trying to wrestle control along other lines, then yes i can see that...
if exchanges are going to be created and used in this way, it becomes about making sure the free market can offer opportunities beyond the 'official' options...
Legend - Couldn't sum it up better myself  Edit: And yes - this is exactly what I mean. |
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It all depends on what we expect Bitcoin to be at this point. Personally I'm quite impressed. It is beta software after all.
I couldn't agree more. It has proved itself to be resilient time and time again. |
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I was debating starting a new thread with this in, but thought I would add this to here. I have heard about this for along time now - secret services discrediting potential threats and spreading disinformation. Again I am not saying I fully believe this but I think NONE of us should rule it out. https://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/ |
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Hi there mantaxer. Ironic we are both getting wound up over the same issues. Yes as grifferz said - please join in with my discussion James |
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People will have to vote with their feet when it comes to this one. Its the only thing that really works.
Take it as a vacation
I am probably being dumb here, but I am failing to understand. Can you enlighten me please ? |
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Are you based in/near London?
I am and I would be interested in taking part in what you're proposing, so if you are doing something near London please do announce it on these boards.
Myself I have a tiny business (nothing compared to the turnovers you mentioned earlier) that does accept bitcoin payments, but doesn't sell anything related to bitcoin so I haven't run into those issues. I do buy and sell bitcoins personally and have had a number of negative experiences with banks. I also have seen this a lot on these boards. I'm interested in the adoption of bitcoin the UK and feel it is a shame the way things are, would be interested in doing something about it.
Hi Griffers, Firstly apologies for the lateness in reply - it's my birthday (hint, hint) so been a little sidetracked . I am not actually based in London - I live in Liverpool but am from around Bristol (still spend a lot of time down there). I will email the relevant people tomorrow and will keep everybody posted on what has been said. If all goes well I am sure this will involve something going on in London as its the most logical place to begin. I can't thank you enough for showing your support - we can do this James P.s. Again - I WILL keep you posted |
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Concise Summary of Mt. Gox
They may have lost all your bitcoins.
Should we be concerned?
Yes
The End
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Take it offshore, and do yourself a favour!
With all due respect its doing no one a favour. We can't just ignore these issues, we have to at least try. Much respect, James |
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HI,
I appreciate you're looking for practical solutions.
Let me make a few points though:
(1) All UK banks are extensions of the government, even if they are not directly owned by the government. AT some point then, even if not immediately, they will have to accept the government's line on bitcoin.
(2) For this reason, I think your best approach is to start at the government level not the bank level
(3) I would follow up by suggesting you meet the bitcoin group of supporters, based in London. There is a meetup group called Bitcoin London, I would suggest maybe talking to them in order to organize a collective effort.
(4) Finally - I would say that it will require huge action to get a UK bank to operate with a bitcoin exchange . Why ? Because it needs change at the government level, and that is not forthcoming right now.
Im not saying its impossible, but it is going to be quite a task.
Honestly, if I ws you ? Just buy bitcoin and hold. The time will come when the government is forced to take bitcoin seriously. Until then, it will continue to be hard to operate a bitcoin-related venture in the UK.
PS. in the interm, I appreciate that means it's perhaps more difficult than it needs to be to acquire bitcoins. However, at least you can (still) buy them.
Hi Xavier, Thanks for taking the time out to give me your thoughts. This is exactly what I need. You are totally right and I do primarily want to target the government level as opposed to the banking level. Subsequently I will expend more energy at this level then the banking level. It would however be interesting to see what response the banks give - you never know they may be insightful or even offer a hand (no chance  ). Your suggestion in number 3 is a great place to start and I will act upon this over the weekend. I appreciate the enormity of the task but I feel that we as a community should be doing more to challenge the power structure over these issues. The UK has been exceptionally slow in adapting bitcoin - I can't recall any politician even discussing it (though i may be wrong). Hah - Yeah, maybe. Its just that I have always liked doing business and have never been much of an investor - though this is slowly changing. Again, many thanks James |
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When Gox went down   THIS HAS MADE MY DAY ...... |
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Now that Scan are accepting bitcoins have you considered talking to them about their experience?
I know they are just using Bitpay at the moment, but if their acceptance of bitcoin is going well then perhaps they would be willing to co-sign a letter that asks UK banks to be more open to the idea that there is legitimate business that takes place using bitcoin.
Thanks for the information. I will be in contact with them. I am in touch with a few UK bitcoin businesses. |
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I dont know what you are trying to do but you could try speaking to GigaTux, he has a registered UK business trading BTCBTCBTC so may be able to offer advise... Unless you would be competing with him  OK. I want need a bank account in the UK that my customers can send money over too, so I can sell BTC. That simple really. What I am trying to achieve here is more though. I would like to get UK bitcoin users to start discussing our predicament and get a little better organised. As original stated I'm not asking for much. I have no problems in doing the donkey work - just I will need limited support. My current ideas are: - send an open letter to a basket of MP's - asking when politicians are going to have an open debate about the subject like we have seen in other western countries.
- put more pressure on HMRC to confirm their classification of BTC
- start an e-democracy petition - which if recieves 100,000 signatures politicians will be forced to discuss.
- send an open-letter to the banks from a confederation of BTC business owners, demanding explanations towards there current stance on bitcoin
These are just preliminary ideas, but it would be useful to have a group of people who don't mind signing things, forwarding emails, discussing ideas etc. |
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The UK is definitely not an open, free society. It's an oligopoly, run for the benefit of a small minority and the expense of everyone.
Don't kid yourself, as an individual you have basically no rights unless you have political connections or a lot of money. The banks don't care about you. Case in point: I have a perfect credit history and interest rates are 0%, so no cost to borrow money. However, I was declined even the ability to apply for a OVERDRAFT.
As stated , a small number are profiting at the expense of everybody right now. It's unacceptable but somehow unquestioned. If you want a chance at succeeding In th UK , your bet shot is to join the government.This is not what happens in a free society. This is what happens in 1980s Brazil, 1930s Germany, 1940-1990 Russia, 1950s China.
Basically, forget the banks. The whole system is run by and for the benefit of criminals. Bitcoin is the alternative
I don't disagree. I would rather re-frame from going down this particular road as I want to discuss solutions, not bitch about the system. I will say this though the irony is that this problem rests with the 99% not the 1%. If we hadn't of been so apathetic towards politics in better times, we almost certainly would never have ended up in the position we find ourselves in today. We actually probably could still change 'the system'- but it would require people to actually get off their asses. A no-go I can assure you. |
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So you agree that a UK company (a bank) should be allowed to conduct their business in the order they see fit (refuse to accept any customer they like for any or no reason)? Or is that the point you are making?
I think he was correcting my grammar - may be wrong though . |
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I am fed up with UK banks declining me for a business account for my trading business. I was wondering if anyone else has been met by the same firewall? I don't understand why residents of the UK, a free democratic society, can not conduct business in the order they see fit - as long as no EXISTING legislation prohibits these practices.
I don't understand why a UK company, in a free and democratic society, should not be allowed to conduct business in the order they see fit. Duly noted and changed. Want to be my grammar checker in the future ? |
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