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The article mentions that an estimated 50-90% of bitcoin's current market cap is held by near-institutional money. That is indeed significant. If more institutional money flows in, the market cap would dramatically improve.
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Throughout 2015, Bitcoin exchanges, mining, and trading firms in Australia received letters from their bankers. The message was the same; the commercial banks were withdrawing their services. The banks gave little explanation for the move, but these termination of service notices set a dangerous precedent that other countries could follow. “Our members have been unable to obtain any formal clarification on the reasons for closure, except for references to policy or risk. Just what policies or risks these are have not been specified,” Ron Tucker, ex-chairman of industry body The Australian Digital Currency Commerce Association, complained back in September. http://venturebeat.com/2016/03/18/fear-or-greed-why-are-australian-banks-cutting-off-bitcoin-businesses/The references to risk are actually valid. Accounts related to bitcoin definitely pose a higher risk of money laundering. This would mean enhanced monitoring and higher costs for the banks. So it is a business call about whether they want the account or not. |
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Microsoft might have clarified, but the problem is many media outlets carried the original news.
They may not take the pains to issue a correction.
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Everybody has a role to play in the bitcoin ecosystem
- the hoarders
- the investors
- the gamblers
- the spenders
Nothing wrong in some people holding bitcoins and not spending them.
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Yeah! I saw that news on internet. Is this currency mineable like others for example bitcoin? I am much interested.
Watching Thread
This was discussed a couple of days back. It is nothing like Bitcoin. You can have a look at this thread for more information. https://bitcointalk.org/index.php?topic=1394205.0 |
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Pakistan is a predominantly cash economy, where many people are not comfortable making payments via credit cards which makes bitcoin extremely relevant there.this will definitely be proved as an improved way of transacting
This is not the right reason, but it will work.  People use cash to avoid paying taxes (direct as well as indirect). The authorities won't like it if Bitcoin is used for the same reasons. |
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How come the US banks are so freaking slow compared to Europe? In alot of countries there transfers are instant and free. Even the cross border stuff is usually same day.
They are slow compared to even third world countries. Banks there make a ton of money on the float. Nobody needs to be paid interest when money is "on the way". Hence, I think there was no real need to improve / innovate. |
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When you have rich players involved with bitcoin, they would certainly play just for profit as many already do.
Pumping and dumping destabilising bitcoin prices/fluctuations/ prices down.
Trump and dump is not needed, I disilke those who do this just for gain.
Nobody (except the Winklewoss twins) has stated how much they have invested in Bitcoin and how bullish they are. If Trump (or any one of the super rich guys) invests in Bitcoin, they will have a vested interest in ensuring that the price doesn't drop. |
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They wont be controling the bitcoin ,just the porfolio each one has will be exposed,to them,soo you can keep trading the same way you do now but knowing that they governement knows what you are doing ,and wont block your funds asking were the money came from.
Bitcoin is not just about trading.  It is about a lot more than that, and the government may not like it. They lose control over the flow of money. You can easily send your bitcoins out of the country and the government can do nothing about it. |
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What kind of statement is that to say it is great they are losing their money/bitcoin?
This can only lead to bad publicity that bitcoin does not need anymore of. It was convinced in this kind of bad press and saying that business are exposed to getting hacked (even if it is true) will scare off any more businesses to adopt it as a form of payment. Not good for you not good for me if we want to transact using it.
Honestly bitcoin are easier to secure that any of standard methods of payments we currently have. How often do you hear about credits card data was compromised during hackers attack? So far bitcoin could only be stolen because of the total lack of basic security and because vendors are stupid enough to not keep their hot wallets safe. The difference between bitcoins getting hacked/stolen and credit card details being compromised, is that users are usually compensated when credit cards get compromised. Banks just take the hit and it makes no difference to them, given the huge profits they make. With bitcoin, you have only yourself to blame and nobody to compensate you. |
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I dont think so. Eth pump is a sign that open crypto world is growing. I am very sure that the next year more blockchain system will pass 1 billion value.
Pumps and dumps are bad news for everybody. Lot of people burnt their hands and develop a bad opinion about anything and everything in the cryptoworld. I have no problems with ethereum and other cryptos increasing their marketcap, but let it be sustainable. |
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This is pretty impressive. Pakistan is a country with large diaspora and significant remittance flows. You have a market which is readymade to use Bitcoin for remittances. I hope urdubit and other Pakistani bitcoin companies succeed.
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Why do these coins look like poker chips?
Just from design perspective I prefer the old Casascius coins.
However in terms of promoting Bitcoin to a broader audience in Japan it's definitely a cool idea.
I just hope the initiator doesn't get any trouble with regulators.
That is true. You don't want to be slapped with an "illegal money transmission" case as soon as you start your business. These coins look neat. I am sure they will become collector's units soon. |
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You guys do know that those are xapo fees, the Bitcoin debit card OP uses, correct? Normal bank debit cards, like mine, for instance, have none of those. Oh, and my CC actually gives me perks for using it (and it also fronts me money, as in free loan). So your beef's with OP. Paying through the nose for what us mundanes get for free. Normal credit cards give you perks, but they do charge the merchant 2-3% for the convenience. The argument is that merchants should recognize the advantages that bitcoin gives them and pass on a portion of the savings back to the customers. That may make up for the charges currently levied by Xapo. |
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There is no bitcoin bank or any structure like this in the current time, it's a very bad investment to actually look for anything like this stable profit since most of them are camouflaged HYIP's and scams.
Most 'schemes' have got brazen these days. They don't even try to hide the fact that they are ponzis. In spite of that, there are people queuing up to invest. |
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Isn't ACH one of the most antiquated settlement systems, taking one or two days for payment transfers? Compared to this, delays in transaction confirmation and block congestion seem like mild problems.  |
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This news item hasn't been picked up by any major news agency, and so I am inclined to agree with Franky1. If things were indeed so drastic, I don't see any international agency passing the chance to sully the image of Russia. |
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He seems to be primarily relying on the historic success countries have had with abandoning the gold standard. For the last line, I would have preferred him using a pizza instead of the Big Mac.  |
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i think yes...now a days bitcoins are gaining market...there is all chance that it would replace banks in near future!!....hot wallets are gaining now days....so hope for the best
I think that will not happen for the near future at least. Till now Bitcoin's wallets are used only online but people need money also offline and use banks usually for this purpose I think yes and the reason people are used to the traditional banking system and they find it more comfortable to use it, So I think banks will always survive. People were used to horse carriages as well.. That doesn't mean that motor cars didn't find acceptance. At some point, the utility value will be greater than the inertia to change. |
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