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Author Topic: Barclays to start accepting bitcoin  (Read 1715 times)
Carlton Banks
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September 02, 2015, 01:41:26 AM
 #41


Lol, seeing as ArsTechnica are proven to promote stories in exchange for political and/or sexual favours, I wonder what they got out of Barclays  Cheesy

Six months of free money laundering.

actual lol

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September 02, 2015, 01:58:37 AM
 #42

Unknown exchange Huh

Does anyone knows what exchage may it be?

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September 02, 2015, 02:08:10 AM
 #43

Unknown exchange Huh

Does anyone knows what exchage may it be?

Safello are already linked to Barclays. No reason why it wouldn't be them.

Clint
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September 02, 2015, 02:47:00 AM
 #44

Lol I started a thread like this a few months ago, I think they're using the blockchain, not sure if it's bitcoin. Your article seems legit. This is good for us then.  Smiley

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September 02, 2015, 11:40:20 AM
 #45

I found that interesting comment on reddit about that topic. What do you think? Is this a possible and good way Bitcoin might going to reach a bigger user base?

Quote
Could you imagine being able to move money from fiat to bitcoin as easily as you move cash from checking to savings?

I envision very soon online banking having a savings, checking, and bitcoin line, with the ability to move funds between each seamlessly.

Sure there's a bit of reserve banking going on there, but it will definitely increase the demand for bitcoin in a non-zero amount.

If Barclays fully commits to this, they should have no problem managing this very effectively.

Let's get behind this because if the last 5 years has taught us anything it's that virtually no one is going to dump their checking accounts for full bitcoin dependency. This is the natural transition. Don't listen to the loony all-or-nothing libertarians around here; this is how bitcoin goes mainstream.

aso118
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September 03, 2015, 01:24:59 AM
 #46

I found that interesting comment on reddit about that topic. What do you think? Is this a possible and good way Bitcoin might going to reach a bigger user base?

Quote
Could you imagine being able to move money from fiat to bitcoin as easily as you move cash from checking to savings?
I envision very soon online banking having a savings, checking, and bitcoin line, with the ability to move funds between each seamlessly.
Sure there's a bit of reserve banking going on there, but it will definitely increase the demand for bitcoin in a non-zero amount.
If Barclays fully commits to this, they should have no problem managing this very effectively.
Let's get behind this because if the last 5 years has taught us anything it's that virtually no one is going to dump their checking accounts for full bitcoin dependency. This is the natural transition. Don't listen to the loony all-or-nothing libertarians around here; this is how bitcoin goes mainstream.

There will be regulatory issues involved.
Even if Barclays (or any other bank) wants to do this, you will have to look at the regulations in the jurisdiction in which they operate. Most regulators still frown upon Bitcoin. Your bank deposits are covered by insurance to a certain extent. Would insurers be willing to insure bitcoin losses?

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September 03, 2015, 02:58:49 AM
 #47

This is good news indeed, hopefully it will go to a full operation on accepting bitcoins on regular accounts as it was stated "To begin with, the roll-out will be slow: only charities will be able to pay bitcoins into Barclays bank accounts.". And may other banks will follow Barclays path as well.

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September 03, 2015, 05:46:36 AM
 #48

Barclays and the bitcoin startup, Safello, will build a program that would allow charities to accept bitcoin.  This appears to be the first time a big bank has directly undertaken a live experiment with the digital currency. This can improve confidence on Bitcoin Investors.
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September 03, 2015, 05:59:04 AM
 #49

Meanwhile, outside of the reality distortion bubble...


https://www.cryptocoinsnews.com/barclays-will-not-accept-bitcoin-payment-bank-accounts/

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kenbytes
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September 03, 2015, 06:35:29 AM
 #50

that is a very good news ...i hope more big companies will do the same  Cool

CoinBateman
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September 03, 2015, 07:19:49 AM
 #51

Barclays do NOT accept bitcoin in the sense that they are not acting as a money transmitter in exchange to and from bitcoin / fiat.

I recently had my Barclays Business Account closed for no other reason than being involved in legitimate Bitcoin business. Much like every other bank, they are exploring blockchain tech, but they sure as hell aren't going to go into regulatory grey area's acting as a bitcoin money exchanger.

I hate it when the media blows stuff up like this, the news might as well not be news.

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September 03, 2015, 04:51:21 PM
 #52

Barclays do NOT accept bitcoin in the sense that they are not acting as a money transmitter in exchange to and from bitcoin / fiat.

I recently had my Barclays Business Account closed for no other reason than being involved in legitimate Bitcoin business. Much like every other bank, they are exploring blockchain tech, but they sure as hell aren't going to go into regulatory grey area's acting as a bitcoin money exchanger.

I hate it when the media blows stuff up like this, the news might as well not be news.
Yeah, I dont think any banks could accept bitcoin, since each of them have different principal in their system. The only key why bank approaching bitcoin is to study the blockchain, and they will make their own technology like blockchain, where they could make much profit from that.
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