Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE

[Phinnaeus Gage]

Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.

If I wanted to go out to dinner, or needed to go to the store for some groceries, where can I go that will accept this superior currencies debit card?

Anywhere debit cards are accepted.

But way to come out swinging before you understand what is being discussed.

But I'm still ultimately paying in cash. The bitcoins are just converted into real money by this bank. I've added this bitcoin middleman because...

It's a better store of value than fiat.

Is that why it is effectively backed by fiat?  Or why the only community to really embrace it is absolutely plagued by scams and baffling incompetence?

Back to the initial point, isn't part of the entire mythos of bitcoin getting away from federal regulation and banks?  If you are just going to have your bitcoins processed through a bank that then converts them to fiat money, you are just taking a worthless middle step.  

You're still paying in fiat money, this is not a win for bitcoin, just a confirmation that for anyone to take it seriously, you have to back it with the very fiat money you are trying to overthrow.

JESUS FUCKING ChrIst someone talking sense.

With all due respect, Rob, if Bitcoin were a closed system, then you wouldn't have penned the following:

Hi My name is rob i'm from amsterdam holland i've been follwing bitcoin for about 3 or for day just looking at different things wondering what it is all about i'm in it for supporting an alternative currency that could possibly save the planet as we know it . . i think we need a free currency that is decentralized cannot be manipulated by governments or so called elites to bring countries and people to its knees and to financially  enslave them. . that's what i am in it for if i can make money at the same time then it's just win win ( not that im not already doing other things beside employing bit coin ) . . an investmend advice i once read was " invest in something that you love and you'll never lose. . i love this planet and it's people and the many freedoms that still we do have . . yeh i mean that  .. because in relation to if and when . . the world bankers do fully take over ,  what we still have now, would be paradise,  compared to that. .

As max keizer said  .. this is the currency of the resistance . . I'm not in it for illegal activity i'm in it for the financial freedom on this planet and freedom from financial slavery. . and take the power away from the financial psychotic criminals in charge today .. .. I see bitcoin as the good for all humanity i think this should be our main focus and should be our main purpose ..

Don't get me wrong, I do respect your stance, but we can't have it both ways--an open and closed system.

Currently, I applaud Dave.

~Bruno K~

[cbeast]

I would love to see more banks adopt Bitcoin like this. Eventually businesses like Amazon will start buying them up for payment processors. When they see how easy Bitcoin works, they will look for ways to streamline. Then they will finally realize they never did need the banker middleman.

[Phinnaeus Gage]

You guys should see if you can't watch the Bank of Dave documentary, you have to deal with a lot of loopholes etc. when setting up anything like a bank in our countries because the bank owners are of course part of a special club.

http://www.youtube.com/watch?v=0fIGZOe-Oa0

Remind me to kick your ass! I've already viewed Ep1 and Ep2, looking forward to Ep3 tomorrow. Not sure if there's more episodes, but hope there are. Thanks for the link, 420.

~Bruno K~

[MPOE-PR]

We'll see for example, how many "partnered" exchanges continue to allow anonymous accounts, the way bitcoin-central did.

If there's a market for it there's certainly going to be offerings, theoretically speaking.

Practically speaking, the person to person and otc deals exceed MtGox's volume at this time. To imagine that a tiny exchange integrating with the financial system does anything to that is quite the jump. They'll likely grow on the basis of completely new customers (people who would have never shown up on otc or mtgox anyway) and so extend the pie. They're not eating anyone's slice with this move.

In a few years, we'll only be able to message with their secretaries, while they are busy opening  "a bottle of champagne" (paid for with OUR BTC) and celebrating at the country club with their old banking system "partners"...

Hi. I'm the PR for one. I'm here to tell you that it's not YOUR BTC. It's ours. Here's the champagne.

[repentance]

Bitcoin is the currency of the freedom fighters the ones who want to create a better world it doesn't belong to those who want to make a buck who want to suck up to bankers of the established system making deals . . so they can join in on profits onbeknownst  to them. They belong to free spirits trying to create a new world a new financial system understanding .. that the core destruction aswell  financialy mentally and socially is caused by the current banking system that aims  on a global system hopes; expects  we  people bow down to.

Bitcoin is the currency of whoever wants to use it, to be used however they see fit.  It doesn't "belong" to anyone.

[crazy_rabbit]

We'll see for example, how many "partnered" exchanges continue to allow anonymous accounts, the way bitcoin-central did.

If there's a market for it there's certainly going to be offerings, theoretically speaking.

Practically speaking, the person to person and otc deals exceed MtGox's volume at this time. To imagine that a tiny exchange integrating with the financial system does anything to that is quite the jump. They'll likely grow on the basis of completely new customers (people who would have never shown up on otc or mtgox anyway) and so extend the pie. They're not eating anyone's slice with this move.

In a few years, we'll only be able to message with their secretaries, while they are busy opening  "a bottle of champagne" (paid for with OUR BTC) and celebrating at the country club with their old banking system "partners"...

Hi. I'm the PR for one. I'm here to tell you that it's not YOUR BTC. It's ours. Here's the champagne.

Technically that bottle says "Romanian Wine".

[kangasbros]

What you are describing is an intrinsic problem with modern banking, not with Bitcoin. A Bitcoin exchange partnering with a bank in order to make Bitcoin more useful and convenient is no more a betrayal of ideology than for someone to trade one bitcoin for a fiat piece of paper. I'm sure you have traded some bitcoin for fiat at some point, yes? If so, may I ask, do you really support the global militant empires which are based on the fiat paper to which you just gave value?

And even then, bitching about some people not submitting to some ideology is absurd. There is no ideology in bitcoin itself, it is just a tool. People will use bitcoin as they will, and no one can prevent them from using it as they will. I would recommend everyone to stop nagging about what other people are doing, and instead focus on doing something productive yourself that promotes your ideals and goals for the society.

[Rob E]

Oh my God are there 80% lunatics on here .. i see hundreds of people cheering and 2 3 4 5 people speaking out .  it's like an obama election .

Rob E... don't be a fool please.

You're freaking out because one exchange partners with a bank. This does little to corrupt any privacy or "statelessness" that you seek, and does much to bring the world of normal people into Bitcoinland, where, upon finding an amazing new monetary system, they are likely to start abandoning the banks you hate so much.

You have too little confidence in Bitcoin as a decentralized system if you think it is made weaker by attaching one part of it to the banking system. I wonder if you would've similarly freaked out when MtGox enabled people to send fiat to it via wire transfers from banks? That, even more than this announcement from Paymium, enabled Bitcoin to start interacting with the normal financial world. And indeed, Bitcoin is far stronger now because of it.

If you think I'm a lunatic, you're welcome to counter what I'm saying here.

Right theres only a problem with that peoplele are gonna be wondering who is the lunatic
And by my gathering you own a substantial amoumt of bitcoin.. so this is all good news for you as it will drive the price undoubtedly up.. so its pretty easy to establish your positive " dont make anything out of it" kinda attitude.. my guess is you hardly can tie your own shoe laces let alone work. THERES NOTHING TO FUCKING DEBATE YOU SOLD OUT HANGING ON THE DEVILS NUTS AND GIVING HIM A BLOWJOB EVERY NOW AND THEN.YOURE MASSAGING THE DEVILS BALLS AND ASKING HIM IF IT FEELS OK... No matter the first condeming articles have already sprung up.. i hope everybody takes good note of thise selling out bitcoin.. these are not friends lets make that very fucking clear.

[Scott J]

This is great news.

Keep up the important work

[becoin]

There is no ideology in bitcoin itself, it is just a tool...
...
focus on doing something productive yourself that promotes your ideals and goals for the society.

Hmm, do you see the contradiction? How is promoting your ideals and goals for the society any different from promoting an ideology!?

[kangasbros]

There is no ideology in bitcoin itself, it is just a tool...
...
focus on doing something productive yourself that promotes your ideals and goals for the society.

Hmm, do you see the contradiction? How is promoting your ideals and goals for the society any different from promoting an ideology!?

Mostly from the practical viewpoint - there is endless supply of people bitching about other people's actions*, while there is only a small group of people who do some real work and get stuff done. The first group of people is just more annoying.

(* Of course exception is, when there is aggression or something like that. But bitching about some company or invidual offering some kind of service in the free market is annoying and worthless.)

[davout]

Mostly from the practical viewpoint - there is endless supply of people bitching about other people's actions, while there is only a small group of people who do some real work and get stuff done.

Word.

[MPOE-PR]

Technically that bottle says "Romanian Wine".

Well technically Champagne is wine.

THERES NOTHING TO FUCKING DEBATE YOU SOLD OUT HANGING ON THE DEVILS NUTS AND GIVING HIM A BLOWJOB EVERY NOW AND THEN.YOURE MASSAGING THE DEVILS BALLS AND ASKING HIM IF IT FEELS OK...

This has to be preserved. It's just too bitcointalk-y.

[Rob E]

Of course destroying the nature of bitcoin with which it was created- a decentralized currency is getting things done.. Right.

[mrvision]

Mostly from the practical viewpoint - there is endless supply of people bitching about other people's actions, while there is only a small group of people who do some real work and get stuff done.

Word.

And most of those people bitching about other peoples actions while thers do some real work and get stuff done are called politicians.

And how do they do it? They make individuals think that they need to be blessed by them for everything they want to TRY. They call this process licensing. When people think they need a license, they legitimate their masters tyranny. Just like a slave that asks his master to eat his own food.

The plain truth is that the license is not needed. Bitcoin can work and has been working (and growing) without a license.

In my opinion the owners of bitcoin central one day will learn a lesson the hard way, or will find themselves working for the gov, giving to their masters all bitcoiners identities (they will have) so the master can overtax them. (Or more likely first the second, and then the first)

But hey! Good news, Bitcoin is not democratic You can all do whatever you like.

[becoin]

Mostly from the practical viewpoint - there is endless supply of people bitching about other people's actions*, while there is only a small group of people who do some real work and get stuff done.

Well, some people call it democracy.  

[Rob E]

whats beyond pathetic is that on these here forums many anonymous members are active.. isnt this funny as soon as theres a buck to be made they go silent or go YYYYYYEEEEEEEEEEAAAAHHHHHH.. and throw their hand held moralistic ideals aside into something more " favourable". Money.

[BlackBison]

It's kind of like a bunch of slaves breaking out and then running straight back because they were so brainwashed they didn't even recognize freedom.  

nice

Not really. It is more like the US breaking away from Europe to be independent, then immediately trading and investing with 'the enemy'. Both sides benefit from this arrangement but particularly it allowed the US over time to become number 1 due to its superior fundamentals.

Notably, many smart and wealthy British and European elites saw great opportunities to invest in the US because they saw the potential and they sure as hell weren't going to miss out on it.

If bitcoin or another cryptocurrency truly is the strongest contender I am sure there will be a similar migration from the 'old system' as they realise bitcoin is as uncontrollable as the US was 

[Ignore@YourPeril]

An aversion to the current system of banking is understandable due to the havoc it has wrought on society. Bitcoin can be an alternative, but there is still the issue of making the transition.

If bitcoin really is a better form of money than fiat cash, the transition away from traditional banking will have so much of a momentum that banking licenses only will be relevant in a transitional phase.

Pure bitcoin banking would better be envisioned as a kind of deposit box solution for raspberry PI´s: A hot wallet kept on the Raspberry, where the bank only provides the network access and the power socket. And you could also provide the locker with your own EMP solution for self-destruction of any hard drive inside, if anyone tried to tamper with it.

[MPOE-PR]

Not really. It is more like the US breaking away from Europe to be independent, then immediately trading and investing with 'the enemy'. Both sides benefit from this arrangement but particularly it allowed the US over time to become number 1 due to its superior fundamentals.

Notably, many smart and wealthy British and European elites saw great opportunities to invest in the US because they saw the potential and they sure as hell weren't going to miss out on it.

If bitcoin or another cryptocurrency truly is the strongest contender I am sure there will be a similar migration from the 'old system' as they realise bitcoin is as uncontrollable as the US was 

Your word to God's ear.