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Author Topic: Circle approved for BitLicense, new "All USD" wallet app to be announced.  (Read 1512 times)
okae
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September 21, 2015, 11:20:28 AM
 #21

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.

Last time i checked it i cant use them because they didnt accept european credit cards, if they want to be evolve to the new existing crypto banks in the next several years they should improved that a lot.

btw as you said, Circle and Coinbase seems to be working faster on all those things before others, maybe they just want to be "ready" to rumble for the next years Wink

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September 21, 2015, 11:36:17 AM
 #22

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.

Last time i checked it i cant use them because they didnt accept european credit cards, if they want to be evolve to the new existing crypto banks in the next several years they should improved that a lot.

btw as you said, Circle and Coinbase seems to be working faster on all those things before others, maybe they just want to be "ready" to rumble for the next years Wink



Yes, this is real BS. I cannot believe that they don't still accept EU credit cards, at least the ones from the most secure countries like France, Germany, UK would make sense to me. I mean, they would be well protected in this case, at least that's my guess.

There must be some other catch that doesn't let them accept these European credit cards. If someone knows something more about this, thanks for sharing.
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September 21, 2015, 11:47:19 AM
 #23

If you happy with the traditional banking system, you would be happy to use Circle, it’s as simple as that. They dance to the government’s tunes and adhere to all the KYC and AML regulations. If you want to pay some premium fee’s on top of normal Bitcoin use for some reason, feel free to use them. <Tax>

They are the vanilla Fiat banking system, with a Blockchain skirt.   

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September 21, 2015, 11:50:50 AM
 #24

Ok i thought i missed something over here. Our intention is to promote use of bitcoin but in order to avoid the volatility issue we are actually maintaining the fund holdings in dollar and convert per se to bitcoin to pay when is needed.

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September 21, 2015, 11:56:46 AM
 #25

This reminds me of changetip finding out after a poll that BTC made people less likely to use them, so they featured USD tipping despite the hardship regulations could bring. This isn't directly beneficial for bitcoin but even for the few people that are going to find out about it's existence though an service they use I'm confident that it's worth it. If people trust circle for non bitcoin uses, finding out about bitcoin through a trusted app is going to be a good introduction.
Lucky7btc
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September 21, 2015, 01:18:42 PM
 #26

I read somewhere where circle locked someone account for 90 days and didn't allow them access to their bitcoins. That person had to file complaints up in Boston in order to get access to his account.

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September 21, 2015, 01:47:43 PM
 #27

i cant even see my bitcoin address in my circle wallet (i dont mean the app). where is the problem with that service?!  Huh

Probably they are interested in hiding all the things that are too complicated for a non-tech users  Grin. Just as windows did with MS-DOS, and then later windows 8 hiding more and more things (folders, configuration options etc.).


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September 21, 2015, 02:58:12 PM
 #28

I read somewhere where circle locked someone account for 90 days and didn't allow them access to their bitcoins. That person had to file complaints up in Boston in order to get access to his account.

Possible that this happened more often. Coinbase and Circle have to follow regulations, KYC/AML etc.
It can happen that they close your account and ask you where your coins are coming from. Or you spend your coins in shops they will have problems with because of existing laws in different states, for instance you live in Colorado and buy some weed with bitcoin via using circle's app. There can be several other cases which might create problems and your account will get closed. Don't use them.

chennan
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September 21, 2015, 03:27:23 PM
 #29

So what is the general consensus of buying bitcoins? I still use circle and am worried about this... I would prefer to use exchange sites like local bitcoins, but they don't have any users in the town I'm in currently Sad

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September 21, 2015, 03:36:23 PM
 #30

So what is the general consensus of buying bitcoins? I still use circle and am worried about this... I would prefer to use exchange sites like local bitcoins, but they don't have any users in the town I'm in currently Sad
I use coinbase in the US, I don't trust circle yet, they haven't been in business long enough.

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September 21, 2015, 04:00:42 PM
 #31

So what is the general consensus of buying bitcoins? I still use circle and am worried about this... I would prefer to use exchange sites like local bitcoins, but they don't have any users in the town I'm in currently Sad
I use coinbase in the US, I don't trust circle yet, they haven't been in business long enough.

Coinbase has to follow the same rules under KYC/AML guidelines. So there's no big difference. Both will close your accounts and freeze transactions immdiately if they think something is suspicious. Just have read at r/Bitcoin of how many people complained about coinbase and their service.

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September 22, 2015, 12:55:11 AM
 #32

So what is the general consensus of buying bitcoins? I still use circle and am worried about this... I would prefer to use exchange sites like local bitcoins, but they don't have any users in the town I'm in currently Sad
I use coinbase in the US, I don't trust circle yet, they haven't been in business long enough.

Coinbase has to follow the same rules under KYC/AML guidelines. So there's no big difference. Both will close your accounts and freeze transactions immdiately if they think something is suspicious. Just have read at r/Bitcoin of how many people complained about coinbase and their service.
I suppose I haven't thought about that, and I try to stay away from /r/bitcoin, because well, reddit.

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September 22, 2015, 06:23:09 AM
 #33

Circle Gets First ‘BitLicense,’ Releases CirclePay, New Service

http://blogs.wsj.com/moneybeat/2015/09/22/circle-gets-first-bitlicense-releases-circlepay-new-service/

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“We’re pushing bitcoin into the background for the sake of bringing bitcoin to more people,” CTO Sean Neville said.

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September 22, 2015, 09:46:12 AM
 #34

Circle Gets First ‘BitLicense,’ Releases CirclePay, New Service

http://blogs.wsj.com/moneybeat/2015/09/22/circle-gets-first-bitlicense-releases-circlepay-new-service/

Quote
“We’re pushing bitcoin into the background for the sake of bringing bitcoin to more people,” CTO Sean Neville said.

That's great news to know. Whenever I hear of new services or I calculate how it would impact on bitcoin price raise. Hopefully circlepay will provide some positive boost into bitcoin prices. Because we need more and more services and applications needed to take bitcoin price to moon.

Denker
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September 22, 2015, 12:14:59 PM
 #35

Circle Gets First ‘BitLicense,’ Releases CirclePay, New Service

http://blogs.wsj.com/moneybeat/2015/09/22/circle-gets-first-bitlicense-releases-circlepay-new-service/

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“We’re pushing bitcoin into the background for the sake of bringing bitcoin to more people,” CTO Sean Neville said.

Well let's see how things will develop.Their idea to push Bitcoin into the background is not new and Abra I think is doing the same.So what both are doing is converting dollars into bitcoin, sending the transaction through the network and at the other end convert it back to dollars.

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September 22, 2015, 12:20:59 PM
 #36

I would be real wary of circle.com . IMHO coinbase is much better. For what im gathering some seems to think circle = paypal

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September 22, 2015, 01:02:36 PM
 #37

The only reason why we have these payment processors are to make Bitcoin user friendly for the general public, because they are used to 3rd parties handling their money for them and to make it "government

friendly" .... Those people who are allowed to apply their own mind, can use Bitcoin without these services. Why do you need 3 tools to do the job that you could have done with one tool? Most of these services

are operating from areas, where regulations are in place to stop them from using any other payment option, if they do not adhere to it... if that makes sense. You pay them to adhere to these regulations.  Roll Eyes


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Denker
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September 22, 2015, 01:43:23 PM
 #38

The only reason why we have these payment processors are to make Bitcoin user friendly for the general public, because they are used to 3rd parties handling their money for them and to make it "government

friendly" .... Those people who are allowed to apply their own mind, can use Bitcoin without these services. Why do you need 3 tools to do the job that you could have done with one tool? Most of these services

are operating from areas, where regulations are in place to stop them from using any other payment option, if they do not adhere to it... if that makes sense. You pay them to adhere to these regulations.  Roll Eyes



Exactly this. The way they are going is to get more users. And of course all these guys will have no clue that Bitcoin is running in the background.Therefore for them it feels like a kind of paypal.Fully regulated with KYC/AML guidelines etc...
We as true Bitcoiners know how Bitcoin works and don't need their services.

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September 22, 2015, 03:21:16 PM
 #39

Honestly I don't think many people will adopt circle as a payment program just because they don't really have a reason to.

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September 22, 2015, 03:28:29 PM
 #40

It seems like Circle is aiming to be the first Bitcoin Bank. Many companies don't agree with BitLicence for a reason. Circle should be following them.
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