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Author Topic: Circle approved for BitLicense, new "All USD" wallet app to be announced.  (Read 1510 times)
Witrebel
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September 20, 2015, 03:28:33 PM
 #1

I have it on good authority that Circle has been granted a BitLicense and will be formally announcing this week.  Furthermore, an all USD wallet app is in the works, where there will be no BTC volatility associated with your account, but where you can still pay in BTC.   
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coinpr0n
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September 20, 2015, 04:26:32 PM
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I haven't used Circle myself, but it looks like they're going the way of banks. They seem to be OK with the regulation and somebody's got to do it.

Xialla
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September 20, 2015, 04:36:38 PM
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honestly, I'm not so surprised..Circle is getting big. they have killer mobile app (at least for android), cool, modern and fast website and lot of strong investors firms behind.

https://www.circle.com/en/investors

I think, that we will hear a lot about Circle and they will become one of the leaders within upcoming 2 years.
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September 20, 2015, 05:53:56 PM
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i cant even see my bitcoin address in my circle wallet (i dont mean the app). where is the problem with that service?!  Huh

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September 20, 2015, 06:07:45 PM
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I haven't used Circle myself, but it looks like they're going the way of banks. They seem to be OK with the regulation and somebody's got to do it.

Of course they are going the way of banks when the US government makes them go this way. This is the only way to get all of the licenses, BitLicense included and to comply with all of the KYC crap.

American Bitcoin companies and American bitcoiners don't have much of the choice in my opinion. I mean, if I got charged and fined like I killed someone for simple trading on localbitcoins, I would have complied with everything as well.
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September 20, 2015, 07:29:14 PM
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It's nice to see that Circle is ok with being regulated, and that they have been approved. Interesting times ahead
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September 20, 2015, 07:39:03 PM
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I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra

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September 20, 2015, 08:29:01 PM
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I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra


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September 20, 2015, 09:36:40 PM
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I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra

That's an interesting possibility. I wonder whether their direction would gradually change to putting BTC deep in the background and just market themselves as a super efficient payment system. It slightly defeats what that pointy-headed baldie has been talking about but there's probably a load more money in it.

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September 21, 2015, 02:10:36 AM
 #10

I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.

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September 21, 2015, 02:25:52 AM
 #11

I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.

Just shop elsewhere. They only operate in one country and there's no shortage of other options.

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September 21, 2015, 02:28:35 AM
 #12

I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.

I mean really, it's the only option we have, especially if you live in the US like I do... but hopefully another site will come out and challenge circle, idk how they would do against government... probably not too good I'm assuming lol.

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Witrebel
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September 21, 2015, 02:45:31 AM
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For context, I am in no way affiliated with Circle, just had a chance encounter that tipped me off.  My use of circle amounted to needing to prove I had a pathway to get mining profits from a pool into my checking account without paying fees.  For that use, circle has been great.  I'm curious what the fear is?  If anything I saw this news as a good thing.  It seems to me that what bitcoin really needs is adoption, and that means we need merchants.  Merchants need stability.  If we can't give them a stable exchange rate, then giving them an app that isolates them from the volatility should help adoption.  So what's the danger here?
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September 21, 2015, 02:48:20 AM
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For context, I am in no way affiliated with Circle, just had a chance encounter that tipped me off.  My use of circle amounted to needing to prove I had a pathway to get mining profits from a pool into my checking account without paying fees.  For that use, circle has been great.  I'm curious what the fear is?  If anything I saw this news as a good thing.  It seems to me that what bitcoin really needs is adoption, and that means we need merchants.  Merchants need stability.  If we can't give them a stable exchange rate, then giving them an app that isolates them from the volatility should help adoption.  So what's the danger here?

That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.

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gentlemand
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September 21, 2015, 02:56:54 AM
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That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.

If their prices veer away from any other market player then people will take their business elsewhere.

How big is Circle at present? I don't see them discussed all that much on here.

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September 21, 2015, 03:10:22 AM
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That's actually pretty true, it will help mainstream adoption.. but at the same time, it's not good if one site has all control in the say so of price rates to buy bitcoin... especially if the government is affiliated with them.

If their prices veer away from any other market player then people will take their business elsewhere.

How big is Circle at present? I don't see them discussed all that much on here.

Well it's pretty hard to do that if you live in the US and don't live in any major US city.  Hardly none of the US cities have bitcoin ATM's and localbitcoins usually only work for people in large cities that have atleast some people that use bitcoins.  Also, Xapo is another way to go about getting them, but they charge a pretty high fee if I'm not mistaken.

Circle I think is a pretty big player in this field right now, especially since they are backed up now by big time investors.

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kingcolex
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September 21, 2015, 03:55:20 AM
 #17

hmm, I use Circle for purchasing my bitcoin as they were one of the first to let me do it with a debit card and no insane fees, I have noticed it feels more and more ease use with less techy side (shows usd or bitcoin, qr code for wallet and address below is only way to see your address). It will be interesting to see how they evolve.

Carlton Banks
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September 21, 2015, 07:34:13 AM
 #18

I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.

Not just US government affiliation; they're also heavily affiliated with the same incumbent banking corporations who are arguably most to blame for the worsening state of the legacy financial system that bitcoin is supposed to provide an escape from:



Investors Goldman Sachs and Accel:

http://blog.circle.com/2015/04/29/new-circle-investors-new-us-dollar-account-features-china-horizons/

Employing a formerly JPMorgan/Deutsche Bank executive as CFO:

http://blog.circle.com/2014/12/11/circle-team-leadership-expansion/

Employing former SWIFT CEO ( + previous investment from Accel):

http://blog.circle.com/2014/03/26/circle-closes-17-million-series-b-rolls-consumer-product-invite-limited-release/

Employing former Bank of Ireland/Goldman Sachs financier as their MD:

http://blog.circle.com/2014/07/02/circle-appoints-fintech-leader-former-bank-ireland-director-garrett-cassidy-head-european-operations/

Employing former Special Advisor to US Treasury Secretary Tim Geithner as a Director:

http://blog.circle.com/2013/11/14/circle-names-former-banking-industry-exec-head-u-s-consumer-financial-protection-bureau-raj-date-board-directors/

Employing former board member at Wal Mart/Cisco/Goldman Sachs as "global finance executive" (at the same time that Mike Hearn becomes an advisor):

http://blog.circle.com/2014/01/16/circle-adds-new-board-member-announces-key-advisors/

Launch announcement of Accel investment:

http://blog.circle.com/2013/10/30/introducing-circle/



You will eventually get what you deserve if you use a company like Circle (and let me give you a hint: remember how it feels to be a customer of the banking behemoths right now? Well.....)

Vires in numeris
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September 21, 2015, 10:55:23 AM
 #19

I don't like this, we're giving Circle too much control, espeically with how close they're tied with government regulations now.

Then I advise you not to use them. There are several other options out there to receive and send bitcoins. You as a user always have a choice and the options to express your dissatisfaction.

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September 21, 2015, 10:59:37 AM
 #20

Circle and Coinbase will evolve to the new existing crypto banks in the next several years. Future banking will change. Some of the old ones will die and the rest will adopt and develop new blockchain systems and crypto vehicles. Circle and Coinbase will be part of them.

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