Banks make a ton of money in verifying international trade documents and processing them. While the blockchain cannot replace their financing role, they tend to lose by such developments.  |
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i dont think it will ever happen, the only possibility why it might possibly happen if countries would ban it and not allow anyone to use it at all then maybe the price would drop significantly
You have too many countries and concerted action by all countries together is just not possible. Bitcoin's popularity might actually increase if it is banned by a few countries.  |
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I do not how transparency will help them, because they like to do things behind closed doors in private permissioned ledgers. The thing that might interest them, is the cost savings for their administration tasks and that would mean more profits going to the shareholders. The Blockchain is being exploited for the very thing it was developed to replace. How ironic  Cost savings and faster settlement times - That definitely are the 2 reasons why banks are looking at the blockchain. But why do you think blockchain is being exploited for the very thing it was developed to replace?  |
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In a report entitled Distributed ledger technology: Beyond block chain, he said that distributed ledgers "could be at the heart" of the Government Digital Service's (GDS) development of government as a platform (GaaP). Wall Street bankers have become interested in understanding blockchain technology, and technologists, the ones building the software, need to familiarize themselves with the financial services market anti-money laundering laws and know-your-customer regulations. Government wants to make sure the United Kingdom is at the forefront of using emerging technology to improve public services. http://leadercall.com/2016/01/big-banks-test-new-trading-system/It had to be expected. Even if blockchain technology is implemented, you cannot expect the government to let go off tools that are available to it for financial monitoring. Know your customer, anti-money laundering laws and any future regulations will have to be adhered to. |
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They can do whatever thay want but BTC was first and will stay at the top!
Facebook wasn't the first social networking system. iPhone wasn't the first phone produced. But they are the leaders today, aren't they? |
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We need "consensus" for the block size debate to be resolved. I wouldn't put my money on that happening any time soon.
So I would go for halving.
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Lithuania Financial Crime Investigation Service (FNTT) Director Kestutis Jucevicius has officially announced to the public that digital currency Bitcoin should be used with caution as it is used to finance “terrorism.” “In the future can cause a lot of problems, because the money purified system through bitcoin can benefit not only organized groups engaged in arms trafficking, trafficking in human beings and drugs, the possibility that in the future such a cash transfer schemes and cash transfers could be used by terrorists” said Jucevicius on Friday at a press conference. http://www.newsbtc.com/2016/01/22/lithuania-criticizes-bitcoin-for-assisting-terrorism/How is Lithuania even bothered about terrorism or even bitcoin? Moreover, what impact will Lithuania's FNTT director's statement have on bitcoin? Absolutely no impact. I thought such small countries were off the radar of the jihadi terrorists. |
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yeah, was it not HSBC who where caught laundering money from the cartels. and i dont think a single person got done for it. if they did they where probably low level managment who took the fall.
They would have paid some fines and gotten away with it. Their profits from the illegal transactions probably exceeded the fines that they paid. |
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Transaction fees of 0.5 BTC. We should use ppm (parts per million) to quote transaction fees, not %. |
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Clinkle’s pile of ashes pale in comparison to the embers left by Bitcoin when an influential developer of the online currency set it aflame last week, calling it a failure and saying he had cashed out all his coins in a blog post on Medium. “Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose,” he wrote. “But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.” http://www.vanityfair.com/news/2016/01/clinkle-investors-want-money-backThis article talks about the investors of a particular start up (Clinkle) wanting their money back. Nothing surprising about that. Less than half of start-ups survive.  |
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The new currency is announced to be anti-theft. It is possible to identify the owner of Aten Coins at all times. Thus even if they were stolen, the location of funds would be defined and the coins would be frozen.Why on earth would anybody want to use this alt? It is like fiat subject to the whims and fancies of a lot of governments in this world. 
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The Chinese government will be keeping a close watch on the amount of money flowing out of their country via bitcoin. I suspect the introduction of a Chinese digital currency is a step to stem this flow and make people lose interest in Bitcoin.
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If you think a while about it, it is rather scary that money is not backed by anything. That makes it purely speculative and you cannot stand on solid ground. Well, that is the way it is.
Yes l get it it's like holy ghost you must believe it..  Not everybody believes in the holy ghost, but almost the entire world believes in the value of money. That is what makes the world go around. |
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What will happen in this case if there are chargebacks on the visa card?
The payment processor would need to take credit risk on you, if he is paying you bitcoins.
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Too big to fail usually indicates that the government will step in to save a bank/company, if there are signs that it could fail. That definitely is not the case with Bitcoin. |
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The article mentions that Cryptsy became aware of the problem more than a year and a half back.
If they did not address the problem for such a long time, I would say they are criminally negligent.
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Obviously, the mainstream media has latched on to this negative news. It is unfortunate that this has overshadowed all other news about Bitcoin so far (including the appointment of Casares to Paypal's board). Hopefully, things cool off soon. |
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The Bitcoin price plunged as much as 16% today (Friday) as the market reacted to a blog post by a former Bitcoin developer that said the digital currency had "failed." According to the CoinDesk Bitcoin Price Index, the price of Bitcoin was about $432 yesterday (Thursday), but news of the damning blog post sent it skidding below $400. The Bitcoin price dipped as low as $359 at one point. http://moneymorning.com/2016/01/15/why-the-bitcoin-price-is-falling-today-3/$359 at one point? It has gone lower now. Hearn's post along with the cryptsy mess have taken a toll on the price. |
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While the effect on the price is short-term and I am sure Bitcoin will bounce back, I hope the issues pointed out by Hearn are sorted out.
I am especially worried about this.
One problem with using fees to control congestion is that the fee to get to the front of the queue might change after you made a payment. Bitcoin Core has a brilliant solution to this problem — allow people to mark their payments as changeable after they’ve been sent, up until they appear in the block chain. The stated intention is to let people adjust the fee paid, but in fact their change also allows people to change the payment to point back to themselves, thus reversing it.
Isn't this crazy?
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Common people, we had this FUD story milions of times by now.
This is designed to generate another profit taking wave. Dont be stupid, how many times do u need to lose money by selling low and buying high. Close the charts and come back in two weeks if u cannot resist the urge to sell.
The problem is the cycle repeats time and again. Weak hands lose money. If you don't have the confidence to buy at these lows, the least you can do is resist the temptation to sell. |
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