Bitcoin in the UK - future looks bleak

[miztaziggy]

Interesting article:
https://www.scirra.com/blog/tom/4/bitcoins-uk-future-looks-bleak

HMRC (the UK tax agency) have clumsily labelled Bitcoins as 'Single Purpose Vouchers'. This means that VAT is due on them.

Some of these responses also indicate glaring misunderstandings of what Bitcoin is, hilariously the Bank of England wrote back to tell me "There have been no meetings held at the BoE attended by Bitcoin".

   

[Sustainable]

I don't think it matters, GDP has the strongest currency value. At this current time England are way off bitcoin or any alternative currencies. But when it blows up it will blow up strong.

[Rluner]

Posted 11 Nov 13, discussion already ongoing in the below link.

https://bitcointalk.org/index.php?topic=330933.msg3549704#msg3549704

[Gator-hex]

UK's loose regulation, despite Coinfloor's snail pace attempts to do Anti-money laundering, is supposed to encourage micro transaction startups.

Your problem seems to be the banks and may require reporting to the EU Competition Commission...

"A cartel is a group of similar, independent companies which join together to fix prices, to limit production or to share markets or customers between them."

http://ec.europa.eu/competition/cartels/overview/index_en.html