Stopped reading here:
the recent announcement that Silicon Valley Bank will hold Bitcoin deposits
FFS...
IIRC, Coinlab will hold Bitcoin deposits just as mtgox does.
Coinlab != Sillicon Valley Bank
Well no, but Silicon Valley Bank is in a partnership with Coinlab. They probaly got this from the
Forbes article:
Silicon Valley Bank, a company that provides financial services to emerging growth companies, will be holding deposits of bitcoin and dollars for Coinlab.
They might have taken it from there, yes.
I still don't believe Sillicon Valley Bank will hold Coinlabs' customers Bitcoins anywhere else besides in their safety deposit boxes
But you don't need to believe me on that.
http://coinlab.com/transitionTransition Questions
What does "transitioned" mean?
Your coins are in CoinLab's secure storage
Your dollars are deposited with Silicon Valley Bank
As you see, SVB will only hold the USD/CAD, not the BTC.
Journalism simply isn't what it used to be. Forbes publishes some moronic statement and then everyone treats it as truth and spreads the lie even further without making their own due diligence to get the facts straight.
Let me say it again: FFS...
