US Bank and BTC in the USA

[leex1528]

Hello all,

I know there is a forum slightly below this listing US Bank as a non friendly BTC bank. 

However, If anyone who has used Coinbase before, I have a question for you. 

They advertise Specifically for USBank, and I have sold through them before and my account has not been closed(Yet)

Is it still safe to do this, any new information on this at all?  I just find it odd that Coinbase specifically Names and mentions that this will only work with US bank accounts....I mean if I were coinbase, I wouldn't pick and advertise a bank that doesn't work with BTC at all..


Any info, thoughts?

[s_s]

I have had absolutely no problems with USBank after multiple transactions with Coinbase.

[CurbsideProphet]

Hello all,

I know there is a forum slightly below this listing US Bank as a non friendly BTC bank. 

However, If anyone who has used Coinbase before, I have a question for you. 

They advertise Specifically for USBank, and I have sold through them before and my account has not been closed(Yet)

Is it still safe to do this, any new information on this at all?  I just find it odd that Coinbase specifically Names and mentions that this will only work with US bank accounts....I mean if I were coinbase, I wouldn't pick and advertise a bank that doesn't work with BTC at all..


Any info, thoughts?

I think most of the "unfriendly" lists had to do with arbitrage and large wires going in and out of accounts back when there were larger spreads between exchanges.

[Bit_Happy]

Hello all,

I know there is a forum slightly below this listing US Bank as a non friendly BTC bank. 

However, If anyone who has used Coinbase before, I have a question for you. 

They advertise Specifically for USBank, and I have sold through them before and my account has not been closed(Yet)

Is it still safe to do this, any new information on this at all?  I just find it odd that Coinbase specifically Names and mentions that this will only work with US bank accounts....I mean if I were coinbase, I wouldn't pick and advertise a bank that doesn't work with BTC at all..


Any info, thoughts?

I think most of the "unfriendly" lists had to do with arbitrage and large wires going in and out of accounts back when there were larger spreads between exchanges.

...back when there were larger spreads between exchanges.

That must have been great trading for people who afford to "really trade" the arb between exchanges.
Of course, you had to stop in time before Gox got Goxed....

[t3xasdolly]

Of course, you had to stop in time before Gox got Goxed....

Higher potential profit, higher risk associated.

[leex1528]

Okay, so I am not doing any major sells/purchases so I think I should be safe, and if I do I am doing them far and between!

Thanks!

[htcfox]

the new us tax rules is an big obstacle against the spreading of bitcoin in US

[RodeoX]

the new us tax rules is an big obstacle against the spreading of bitcoin in US

I must respectfully disagree. I think this will spread bitcoin more than any other news we have seen. I talk to a lot of business people about bitcoin and the #1 reason I get for not using BTC is tax uncertainty. Without knowing how btc was to be taxed few businesses would consider risking their licenses and reputation on crypto-currency. this is huge for the expansion of bitcoin as they now have a basis for calculating profits.
No one who knows about business ever thought that bitcoin would be untaxed. There is noting like that in the tax codes. You have always owed taxes on your bitcoin, no matter what you read here. The question was... What taxes and at what rate? Now we know, let's get down to business!

[zzojar]

the new us tax rules is an big obstacle against the spreading of bitcoin in US

I must respectfully disagree. I think this will spread bitcoin more than any other news we have seen. I talk to a lot of business people about bitcoin and the #1 reason I get for not using BTC is tax uncertainty. Without knowing how btc was to be taxed few businesses would consider risking their licenses and reputation on crypto-currency. this is huge for the expansion of bitcoin as they now have a basis for calculating profits.
No one who knows about business ever thought that bitcoin would be untaxed. There is noting like that in the tax codes. You have always owed taxes on your bitcoin, no matter what you read here. The question was... What taxes and at what rate? Now we know, let's get down to business!

Plus the fact that it will be taxed means:
1) More advertising for bitcoin
2) That bitcoin IS INDEED valuable

[CurbsideProphet]

Hello all,

I know there is a forum slightly below this listing US Bank as a non friendly BTC bank. 

However, If anyone who has used Coinbase before, I have a question for you. 

They advertise Specifically for USBank, and I have sold through them before and my account has not been closed(Yet)

Is it still safe to do this, any new information on this at all?  I just find it odd that Coinbase specifically Names and mentions that this will only work with US bank accounts....I mean if I were coinbase, I wouldn't pick and advertise a bank that doesn't work with BTC at all..


Any info, thoughts?

I think most of the "unfriendly" lists had to do with arbitrage and large wires going in and out of accounts back when there were larger spreads between exchanges.

...back when there were larger spreads between exchanges.

That must have been great trading for people who afford to "really trade" the arb between exchanges.
Of course, you had to stop in time before Gox got Goxed....

I recall those who had Japanese bank account could do it rather well as they were the only ones able to get fiat into Gox quickly.  But you're correct, once the BTC withdrawals stopped the game was over and anyone with anything left on Gox is now holding the bag.