Barclays to start accepting bitcoin

[Blawpaw]

Finally some good news!

great news for Bitcoin indeed.

Probably not so good news for Holders but this will surely accelerate mainstream adoption!

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[allthingsluxury]

Very nice, I believe more and more banks are going to see the light. Bitcoin is here to stay.

[S4VV4S]

I am not quite sure if this is good news or not yet.
Only time will tell.

On a side note (and probably irrelevant) Barclays has been/will be closing down Brittons accounts in Greece and Cyprus.

[ObscureBean]

Having Bitcoin associated with such a prestigious bank (currently ranked 21st on the Vault banking 50) is awesome but people need to keep in mind that they're merely testing the waters and that they're not taking any risks by allowing charities to accept Bitcoin. Still, this is a solid step in the right direction 

[freedomno1]

The UK-based multinational financial services firm stated that bitcoin has the "potential to change financial services" and has entered into partnership with an unnamed bitcoin exchange and intends to start the experiment by the end of the year.

Read more at http://www.econotimes.com/Barclays-to-start-accepting-bitcoin-82378#kRtUb7prLHzijPR8.99

Looks interesting seeing a multinational like Barclays taking initiative in the Bitcoin space.
Seems Bullish

[Kprawn]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

stunt to say... "We were first" ..... Time will tell, if their actions is purely motivated by greed or by social wellfare. Let's give them the benefit of the doubt for now.

I am glad a multi national like that is interrested in Bitcoin, so let's celebrate that... they could have gone with another Alt coin, and they did not.. that is a huge plus in my books. 

[Carlton Banks]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

Sort of.

The financial institutions are largely bankrupt and have been since the 2008 crisis, they're just too afraid to announce the full extent of their finances because it means The End. I don't remember Barclays having problems or receiving bailout money, which if anything only makes it more interesting. The bank with (ostensibly) the least need to take steps that are anathema to their business model are the only bank doing this? Curious.

[ashour]

That was predictable, more banks and financial institutions will join bitcoin and blockchain technologies. If you can't beat them, join them. More banks will adopt bitcoin in the future.

[Q7]

I don't think they are keen with experimenting with bitcoin integration in the first place. They are more interested in the blickchain technology and how they can implement with their own version of coins which they have full control over.

[Kasawari]

good move for Barclays and I hope this move will initiate others to follow

[RodeoX]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

stunt to say... "We were first" ..... Time will tell, if their actions is purely motivated by greed or by social wellfare. Let's give them the benefit of the doubt for now.

I am glad a multi national like that is interrested in Bitcoin, so let's celebrate that... they could have gone with another Alt coin, and they did not.. that is a huge plus in my books.  

A few months back i remember reading an article about how much banks/credit issuers make from charities. It was a quite shocking amount of money that should have gone to help people. Perhaps they are concerned about BTC donations eating into these profits?

Here is something about it:
http://www.moneytalksnews.com/donating-charity-donating-bank/

[ashour]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

stunt to say... "We were first" ..... Time will tell, if their actions is purely motivated by greed or by social wellfare. Let's give them the benefit of the doubt for now.

I am glad a multi national like that is interrested in Bitcoin, so let's celebrate that... they could have gone with another Alt coin, and they did not.. that is a huge plus in my books.  

A few months back i remember reading an article about how much banks/credit issuers make from charities. It was a quite shocking amount of money that should have gone to help people. Perhaps they are concerned about BTC donations eating into these profits?

Here is something about it:
http://www.moneytalksnews.com/donating-charity-donating-bank/

Even if the charities use bitcoin as payment method, they will have to convert that bitcoin into fiat. And the banks will take a cut of that conversation. Charity needs to operate solely on bitcoin like paying staff in bitcoin, buying supplies with bitcoin, distributing financial help into bitcoin in order to operate without those high bank fees.

[RodeoX]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

stunt to say... "We were first" ..... Time will tell, if their actions is purely motivated by greed or by social wellfare. Let's give them the benefit of the doubt for now.

I am glad a multi national like that is interrested in Bitcoin, so let's celebrate that... they could have gone with another Alt coin, and they did not.. that is a huge plus in my books.  

A few months back i remember reading an article about how much banks/credit issuers make from charities. It was a quite shocking amount of money that should have gone to help people. Perhaps they are concerned about BTC donations eating into these profits?

Here is something about it:
http://www.moneytalksnews.com/donating-charity-donating-bank/

Even if the charities use bitcoin as payment method, they will have to convert that bitcoin into fiat. And the banks will take a cut of that conversation. Charity needs to operate solely on bitcoin like paying staff in bitcoin, buying supplies with bitcoin, distributing financial help into bitcoin in order to operate without those high bank fees.

I agree. And in the short term they would do better with BitPay or Coinbase.

[gentlemand]

Both Bitpay and Coinbase already operate in the UK, though I dunno how. No one's going to buy BTC just to donate.

How many existing Bitcoin users are there in the UK? Considering how pathetic the infrastructure is compared to the US I'd say no more than a few tens of thousands. Most of them will be hoarding.

I'd class it as a total dead end. However it's a very uncontroversial way to get their feet wet. They'll probably pull in about £51 but perhaps something will be learnt.

[ashour]

There has to be some sort of hidden agenda for this... ? Why act as a intermidiatary for charities or is this just a opportunity for a test run, to see if it can be implemented for everything else... or just a publicity

stunt to say... "We were first" ..... Time will tell, if their actions is purely motivated by greed or by social wellfare. Let's give them the benefit of the doubt for now.

I am glad a multi national like that is interrested in Bitcoin, so let's celebrate that... they could have gone with another Alt coin, and they did not.. that is a huge plus in my books.  

A few months back i remember reading an article about how much banks/credit issuers make from charities. It was a quite shocking amount of money that should have gone to help people. Perhaps they are concerned about BTC donations eating into these profits?

Here is something about it:
http://www.moneytalksnews.com/donating-charity-donating-bank/

Even if the charities use bitcoin as payment method, they will have to convert that bitcoin into fiat. And the banks will take a cut of that conversation. Charity needs to operate solely on bitcoin like paying staff in bitcoin, buying supplies with bitcoin, distributing financial help into bitcoin in order to operate without those high bank fees.

I agree. And in the short term they would do better with BitPay or Coinbase.

Yes but in this way Bitpay or Coinable would just replace banks and they would take the fees that banks would take instead.

[roadbits]

"the controversial digital currency, bitcoin" what is so controversial about bitcoin? It's open source, both the protocol and the software, what more can you ask for?

[crazyearner]

This is sure good news but what are Barclay's going to do if it does not bring them money that is not backed up by debt. No change here, they will more like to accept it, have their own foot in the door by applying some sort of fees to exchange out from crypto to fiat, hold the coins so they have some weight in the ground before others start to adopt it and have a big stock for the future.

Markets currently crashing exchanges messing up hmm wonder if Gox is cashing his coins out with the markets tumbling like currently are, and banks also helping to plummet it with some private funds to crash markets for them to sweep up a massive pot of it before the bigger waves happen and passes $1,500 for 2013.

Who knows but theirs a lot of bad things going on and now reading this is indeed fantastic news for them dipping their hands in it and with the exposure Barclays have and seeing a BTC logo next to it will massively expose and promote BTC to the next level.

[gentlemand]

A bit more meat on the story here.

http://arstechnica.co.uk/business/2015/09/barclays-to-become-the-first-major-bank-to-accept-bitcoin/

[Carlton Banks]

A bit more meat on the story here.

http://arstechnica.co.uk/business/2015/09/barclays-to-become-the-first-major-bank-to-accept-bitcoin/

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 

[gentlemand]

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 

Six months of free money laundering.