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1  Other / Beginners & Help / Why are banks allowed to prevent the takeup of Bitcoin in the UK? on: November 28, 2013, 01:27:55 PM
I just think it's absolutely crazy as to how difficult it is to buy Bitcoins in the UK compared with other countries. I've bought via Localbitcoins and the transaction went well but as I used UK Bank Transfer both I and the seller were likely breaking the terms and conditions of our respective banks.

Compare the volumes traded in China, USA and the Eurozone with Great Britain and it's clear we're getting left behind, e.g. last 24 hours USD trading on Mt Gox=$39,019,136 in UK Mt Gox=552,290. Normalising with current exchange rate and populations these figures equate to approximately $0.12 and $0.01 per head of population in the USA and UK respectively. Even assuming that the US trades include a fair number of non-US citizens the difference is significant.

Thanks to the informal cartel of the UK banks, who like the Mafia always want to dip their beaks in any transaction but at least the Mafia are known criminals unlike the banks (who take taxpayer money when they screw up after having fleeced us with PPI, LIBOR fixing and excessive charges or as RBS are now doing in closing down and asset stripping small businesses), individuals are prevented from participating in financial markets until the banks can get their pound of flesh. Then you get the apologists for the bankers claiming that RBS are "only" asset stripping "zombie" businesses. At least they're undead - RBS was dead, buried and bankrupt before it fleeced UK taxpayers for 163 billion.

I'll stop now before I get even more annoyed...

 Huh Shocked Angry
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