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Author Topic: Europe unfriendlyness is growing  (Read 2804 times)
mayax
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February 03, 2016, 11:54:03 AM
 #21

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

Bitcoin won't be regulated but they will restrict the exchangers from Europe. The exchangers are already outlaw because they don't have a financial license for their activity. I think it will be simple for EU authorities to shut down some exchangers like Bitstamp, BTC-e. None of them have a financial license yet.
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February 03, 2016, 12:09:55 PM
 #22

Well it's just about time they started realizing a 500 euros was only useful to terrorists, drug dealers, and corrupt officials, I say  Roll Eyes.
Think if you guys followed the online poker scene you could make a lot of comparisons to how bitcoin will be squeezed.

Such as... ?
I'm interested in knowing any reason why bitcoin could possibly fail. The more we know about a threat the more we can take appropriate steps to counter it.

it's simple. The EU will begin to check the EU exchangers which MUST have a financial license EVEN NOW and they don't have it. Smiley

Who can afford to take a financial license in EU? It cost over 700K(only the capital must be 350K euro +lawyers, staff, etc...shits).
Also, once a company has a financial license it must apply strict AML, KYC rules, external audits and so on.  Each transaction must be justified. You, as licensed company must show that you identity the source of the funds and so on...otherwise you lose the license and the biz.

More than that, the monthly cost for a such company is huge and the real profit from Bitcoin is low. Don't look over their fake volumes. Smiley

So, the EU officials just have to apply the existing laws and Bitcoin will value almost zero OR the exchangers will have to "move" somewhere in Asia but each country has laws for financial activities...I don't know where they can move so that they can be "free" .


If the exchanges move out of the EU, then the EU could order its bank to refuse to let customers transfer money between themselves and non-EU exchanges. The banks in the EU are already wary of taking payments sent from Bitcoin exchanges. With some pressure from the EU they would stop taking any Bitcoin exchange payments.
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February 03, 2016, 12:40:14 PM
 #23

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

Bitcoin won't be regulated but they will restrict the exchangers from Europe. The exchangers are already outlaw because they don't have a financial license for their activity. I think it will be simple for EU authorities to shut down some exchangers like Bitstamp, BTC-e. None of them have a financial license yet.

If bitcoin is not recognized as currency by the state, on what grounds would they shut down companies like Bitstamp??
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February 03, 2016, 12:58:38 PM
 #24

Quote

If bitcoin is not recognized as currency by the state, on what grounds would they shut down companies like Bitstamp??


It was recently ruled a currency by the EU http://blogs.wsj.com/digits/2015/10/22/eu-rules-bitcoin-is-a-currency-not-a-commodity-virtually/


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February 03, 2016, 01:12:43 PM
 #25

Europe generally wouldn't fit very much with BTC because of the tax issues as well, Their taxes are extremely high and if there people start storing BTC as savings it would be an issue for them IMO.
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February 03, 2016, 01:38:20 PM
 #26

So this is why the news:

http://www.coindesk.com/european-commission-customer-data-bitcoin-exchanges-wallets/

After what happened to Paris I suppose we should have expected this. Perhaps we wouldn't be able anymore to deposit on EU exchanges without any verification like we used to.

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February 03, 2016, 02:01:30 PM
 #27

EU != Europe

I'm just saying. There are countries in Europe that is not a part of EU.

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February 03, 2016, 02:07:22 PM
 #28

EU != Europe

I'm just saying. There are countries in Europe that is not a part of EU.

This.

I much prefer the non-EU countries to those who are members, the EU frequently bullies it's smaller neighbors in trade disputes (and Brussels frequently bullies it's member states, so joining doesn't solve the problem either)

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February 03, 2016, 02:10:16 PM
 #29

The thing is they cant trace the fiat ,the system used by the black market is very and well hidden soo if they can trace a thing that they could try to reach and get the system how they think they can trace bitcoin?Im surprised now that they connecting just bitcoins to the darkeness knowing that since fiat apear the terroris is being financed by it and not bitcoin at all.
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February 03, 2016, 02:12:59 PM
 #30


hint : Europa don't have an army.

Well not compared to USA. But they have the atomic bomb so they don't really need an army  Grin

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February 03, 2016, 03:27:39 PM
 #31

EU != Europe

I'm just saying. There are countries in Europe that is not a part of EU.

Finally someone gets it. Europe is a continent and the EU is an artificial construct too enslave all the people living under this dictatorship.
Journalists here in Germany always mix these two different things. If the EU and the shitty € goes down it does not mean it will be the end for europe. But this is what they always try to tell us. And many dumb people believe it.
Shit is starting to hit the fan! No day without any negative news.Drama is coming closer.

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February 03, 2016, 04:04:36 PM
 #32

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

What if they make it so it records your MAC/IP address every time you make an exchange from bitcoins to fiat and vice versa it becomes quickly transparent who you are and where you are in the world.

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February 03, 2016, 04:06:42 PM
 #33

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

What if they make it so it records your MAC/IP address every time you make an exchange from bitcoins to fiat and vice versa it becomes quickly transparent who you are and where you are in the world.

Then you just need to avoid converting it to fiat. And I'm sure there would be black-market converting schemes...

mayax
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February 03, 2016, 04:10:21 PM
 #34

It's not the money but the people who are using it,they do not have to blame everything on the crypto -currency,they will always find ways to get hold of the funds in any way possible,they should increase their intelligent and restriction on who are entering their country not blame it on bitcoin..

nobody is blaiming X e-currency. the new restrictions will apply to all e-currencies.
Nobody can regulate the transaction of bitcoin but if they restrict on exchanging them to fiat than that will not make big problem to bitcoin ecosystem.

What if they make it so it records your MAC/IP address every time you make an exchange from bitcoins to fiat and vice versa it becomes quickly transparent who you are and where you are in the world.

Then you just need to avoid converting it to fiat. And I'm sure there would be black-market converting schemes...



Would you risk your money by sending them to a nigerian , russian, indonesian ? I guess not. Well, many of the BTC users wanted that BTC to be "adopted". Adoption means regulation. Regulation = AML, KYC and many others and also, it means that the exchangers MUST be licensed otherwise they will be closed.
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February 03, 2016, 05:18:27 PM
 #35

Regulated exchanges will never be used for money laundering and terrorism funding, because it would just be too easy to track. If they want to stop

this, they will have to close down the unregulated exchanges and then the pawn shops. These people are selling valuable articles at Pawn shops,

brought from their own countries across the borders and buying guns and explosives on the black markets. Stop them at the borders and confiscate

these articles... If Europe are going to pay for their asylum, they have to contribute too... The taxpayers are going to get fed up with paying for

freeloaders. 

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February 03, 2016, 05:31:36 PM
 #36

Bitcoin adoption is increasing currently in a massive scale with increased adoption, of course with that troubles start to arise and unwanted people using the new projects. Europe in a massive competition against illegal activities and therefore controlling BTC spread and origin is important to them.

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February 03, 2016, 05:32:34 PM
 #37

Regulated exchanges will never be used for money laundering and terrorism funding, because it would just be too easy to track. If they want to stop

this, they will have to close down the unregulated exchanges and then the pawn shops. These people are selling valuable articles at Pawn shops,

brought from their own countries across the borders and buying guns and explosives on the black markets. Stop them at the borders and confiscate

these articles... If Europe are going to pay for their asylum, they have to contribute too... The taxpayers are going to get fed up with paying for

freeloaders.  

What exchangers are regulated? Around of 4 worldwide. Coinbase, Gemini, Itbit and Circle(all from USA).

Even the so called biggest exchanges like BTC China, Okcoin, Bitstamp(this one is from Europe), BTC-e are NOT regulated.  Yes, they are running illegal companies because there are already laws who regulate their activity.

They are posing that they are corporations but they cannot cover "only" 1 mil USD to get a financial license Smiley

Of course, they cannot afford and they don't want that. Who will use them after that? The BTC industry is 90% based on black market(ponzi, fake forex and other scams) who doesn't want to be identified easily.
Once an exchanger is regulated, it must identity all its clients very carefully, to trace the funds and to be sure that they are clean.You need a lot of staff and resources to do that.

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February 03, 2016, 05:40:17 PM
 #38

Well not a while ago I remember people celebrating about how europe made bitcoin VAT free or something like that. Of course I knew the niceness from goverment can only be temporal and limited since Bitcoin is anti goverment and anti censorship in general.

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February 03, 2016, 06:42:19 PM
 #39

Terrorism can be related to anything. Or not. Same with bitcoin. Or anything else. Terrorists can deal with anything: money, bitcoin, gold. But all of a sudden they've got bitcoin to blame. How convenient.

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February 03, 2016, 06:54:03 PM
 #40

Terrorism can be related to anything. Or not. Same with bitcoin. Or anything else. Terrorists can deal with anything: money, bitcoin, gold. But all of a sudden they've got bitcoin to blame. How convenient.

Sometimes... Sometimes it just seems they don't even care how we feel...
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