UK plans to become the global bitcoin hub

[bornil267645]

Most countries are on the verge of implementing measures to regulate Bitcoin companies. On one hand, some governments are willing to regulate strictly the companies whereas others pose a more flexible stance. Over the years, UK has remained the financial hub of Europe and as it is now, the country seems to be trending the same path for bitcoin.

https://99bitcoins.com/uk-plans-to-become-the-global-bitcoin-hub/

[LiteCoinGuy]

yeah...old news for me because UK is doing this since 1 year 

[oblivi]

Most countries are on the verge of implementing measures to regulate Bitcoin companies. On one hand, some governments are willing to regulate strictly the companies whereas others pose a more flexible stance. Over the years, UK has remained the financial hub of Europe and as it is now, the country seems to be trending the same path for bitcoin.

https://99bitcoins.com/uk-plans-to-become-the-global-bitcoin-hub/

If I was the president of a country with decent resources (basically any country in the 1st world) I would be spending a considerable amount of my GDP budget on research to come up with more efficient technologies to mine Bitcoin. I cant believe none of them are actively working on this. Bitcoin is the 21th century gold rush and when countries understand this they will invest like crazy trying to become the #1 world miners. I cant believe China is the leading one.

[LiteCoinGuy]

Most countries are on the verge of implementing measures to regulate Bitcoin companies. On one hand, some governments are willing to regulate strictly the companies whereas others pose a more flexible stance. Over the years, UK has remained the financial hub of Europe and as it is now, the country seems to be trending the same path for bitcoin.

https://99bitcoins.com/uk-plans-to-become-the-global-bitcoin-hub/

If I was the president of a country with decent resources (basically any country in the 1st world) I would be spending a considerable amount of my GDP budget on research to come up with more efficient technologies to mine Bitcoin. I cant believe none of them are actively working on this. Bitcoin is the 21th century gold rush and when countries understand this they will invest like crazy trying to become the #1 world miners. I cant believe China is the leading one.

indeed. i can imagine that someday (some) countries will start mining just to secure the blockchain. maybe in 10-15 years?

[johnty82]

The banks in the UK often close people's accounts for being involved in Bitcoin. If the UK plans to become the global bitcoin hub its banks will have to change their attitude to bitcoiners. Most countries banks are hostile to Bitcoin, some are more hostile than the UK banks, but almost none of them seem friendly.

[gentlemand]

The banks in the UK often close people's accounts for being involved in Bitcoin. If the UK plans to become the global bitcoin hub its banks will have to change their attitude to bitcoiners. Most countries banks are hostile to Bitcoin, some are more hostile than the UK banks, but almost none of them seem friendly.

Yup. It's fucking dire. No actual crypto business in their right mind would set up in Britain because of the banking situation. There are no shortage of EU banks that host accounts so they'll just bypass the UK completely.

The banks claim it's because of unclear legislation. We'll see if that changes if any's introduced. I would've thought it was more to do with the sheer hassle of having to deal with potential money laundering checks imposed by the government.

[eerygarden]

The banks in the UK often close people's accounts for being involved in Bitcoin. If the UK plans to become the global bitcoin hub its banks will have to change their attitude to bitcoiners. Most countries banks are hostile to Bitcoin, some are more hostile than the UK banks, but almost none of them seem friendly.

I think the banks are quite civil really. First they will ask, "what the devil are these transactions old chap?", and then when you tell them they will wait a week or two and write to you saying that they are closing your bank account, they arent legally obliged to provide a reason and they wont be doing so and their decision is final. They dont call you a bell end or anything mean like that.

[Denker]

The banks in the UK often close people's accounts for being involved in Bitcoin. If the UK plans to become the global bitcoin hub its banks will have to change their attitude to bitcoiners. Most countries banks are hostile to Bitcoin, some are more hostile than the UK banks, but almost none of them seem friendly.

I believe their aim is to be a global "Blockchain" Hub. We all know that banks absolutely will not have any interest in adopting Bitcoin.
They create their own closed controlled within banks distributed ledgers. In or the other way they might be forced to use the Bitcoin Blockchain. But they will try to avoid it as much as possible.

[Jorge320]

London as a BTC hub would be very good for adoption and exposure of Bitcoin as a whole, I've heard of cities implementing BTC districts and local business gatherings (ie food cart, services, and meetups) but the idea of a Bitcoin Wall Street is exciting.

[lyf208617]

sounds good

[Kprawn]

I do not know, if Russia or the UK is the most messed up, when it comes down to making a final decision on Bitcoin. They want the financial gain and the potential for innovation and the job opportunities it creates,

but they want to regulate it to death. The one moment Cameron is saying "Cryptography technologies" are evil, and the next moment they  invite a Bitcoin company to the trade mission?

"They want to enable cryptocurrencies to work within a legal framework, while boosting the cryptocurrency ecosystem in the country." The snake with the split tongue?

New York have shown what over regulation of Bitcoin can do, to kill the crypto currency ecosystem.