Isn't it time for a new service in place of Coinbase/Circle in another country?

[Pursuer]

With IRS coming down on Coinbase and asking them for their customers history, and now Circle changing their service and (apparently) no longer offering any buy or sell services for bitcoin, and also all other restrictions that US has and will keep on implementing on anything money related; don't you think it is time to see a new service based on another country?

maybe a Coinbase like service located in Switzerland would be nice in my opinion.

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[Jet Cash]

You could always run a full or pruned node.

[Pursuer]

You could always run a full or pruned node.

let me explain what a type of service I have in mind:
"a newbie friendly platform that offers many features at the same time is very simple to use". these features include but not restricted to:

• a bitcoin wallet which newbies can keep their coins and don't have to know anything about bitcoin to be able to use it such as making a transaction, signing it and setting fees,...
• a simple platform that allows anyone to easily purchase and also sell bitcoin at any time easy and fast with lots of option so a new member who again has no idea about bitcoin can easily sign up and purchase bitcoin like he is ordering stuff from internet.
• located in a country like Switzerland which is "better" in privacy and security than any other place specially US.

[Jet Cash]

It's probably an act of heresy to say this, but the real explosive growth in Bitcoin acceptance would come if there was no privacy. It's been constantly dogged by reports of illegal and secret activities, and it would be good if it could move on from that. Let some other cryptocurrency pick up the "dark web" deals, and let Bitcoin become the respectable senior payment service that it is becoming.

[bitkilo]

There is a massive space open for a new company to come onto the scene but they will have to run their operations differently than Coinbase or the IRS will just come after them for all customers records.

If there is one lesson to learn from the Coinbase/IRS case its that if you don't want your private information shared then use bitcoin the way it was designed to be used. Acquiring bitcoins then becomes your main problem but a big push in demand for bitcoin ATM's would fix that.

[Xester]

Well the IRS  steps taken are merely to add security feature I guess by keeping customer records. There are too many hackers and scammers in the bitcoin industry I guess its time that this steps be taken. In our country we have coins.ph wherein we cannot convert bitcoin to cash without any valid ids and other documents. Bitcoin companies are now thinking like banks due to massive reports of being victimized by scams and hackers.

As of Circle, it is a loss to the industry but hopefully there will be no negative impacts on the present price of bitcoin.

In totality, we dont have to worry, there are many who are already thinking negative and in panic right now due to Circle leaving bitcoin behind. But bitcoin has a bright future, hopefully.

[bitkilo]

Well the IRS  steps taken are merely to add security feature I guess by keeping customer records. There are too many hackers and scammers in the bitcoin industry I guess its time that this steps be taken. In our country we have coins.ph wherein we cannot convert bitcoin to cash without any valid ids and other documents. Bitcoin companies are now thinking like banks due to massive reports of being victimized by scams and hackers.

As of Circle, it is a loss to the industry but hopefully there will be no negative impacts on the present price of bitcoin.

In totality, we dont have to worry, there are many who are already thinking negative and in panic right now due to Circle leaving bitcoin behind. But bitcoin has a bright future, hopefully.

With coins.ph do they require you to provide private information and ID's directly to them or can you just link a bank account and from there you can transfer fiat and buy bitcoins?

[mobnepal]

US based companies are always subjected to periodic check of all the transaction and in case of bitcoin related company US government are more interested than anything else due to anonymity in bitcoin transaction and possible tax invasion. I think the main reason for most of the big tech companies to be centered inside US is that there are lots of venture capitalist interested to invest in startups, its good place for start up companies and also easy to get tech experts on need.

Talking about Switzerland i don't have idea about how hard it is to establish a company and collect funds for start ups. Other countries may also have tight regulation but i don't think that will be tighter than US have.

EDIT: Using any of the centralized web wallet or exchange platform is always bad for privacy so if you like to remain anonymous and keep your bitcoin related transaction anonymous better not to use any of them, even if they are not based on US.

[chesatochi]

I think they should have some entrepreneurs who already thinking outside of the box in the creation of new services. Want people want is to buy bitcoins easily without the need to provide 1 million documents in order to acquire them.

I don't know where the best place to create a company like Coinbase outside of United Stated.

[Labumi]

Why are you worried about it..?? . This will not be a bad thing if indeed there are still many users of the bitcoin active, because will not be lost or destroyed something as long as there is still a loyal users use it. Although there are many sites that leave bitcoin, however if there is still a lot of people using bitcoin growth bitcoin will still be maintained and there is a possibility it is a way to foster a new site for a much more complete in order to meet all the needs that can be used in the bitcoin

[davis196]

With IRS coming down on Coinbase and asking them for their customers history, and now Circle changing their service and (apparently) no longer offering any buy or sell services for bitcoin, and also all other restrictions that US has and will keep on implementing on anything money related; don't you think it is time to see a new service based on another country?

maybe a Coinbase like service located in Switzerland would be nice in my opinion.

US regulations really damage bitcoin and the bitcoin community.

Which country do you suggest?

Perhaps some offshore island...

[Patatas]

With IRS coming down on Coinbase and asking them for their customers history, and now Circle changing their service and (apparently) no longer offering any buy or sell services for bitcoin, and also all other restrictions that US has and will keep on implementing on anything money related; don't you think it is time to see a new service based on another country?

For the exchange to provide services in other country,it must either not allow the access to countries whose regulations they don't comply with or make sure they don't accept accounts from that particular location (ip based checking etc).Or they can simply follow the regulations made by the IRS and continue doing business there.I think it's time to give up on the exchanges,peer to peer platforms hosted no commercially inside the forums is a much better option.Not to mention but every country has similar exchanges which run legally and live under the shade of governmental norms.

maybe a Coinbase like service located in Switzerland would be nice in my opinion.

To serve US customers they must comply with the us laws that is they must be able to provide logs on demand.

[thejaytiesto]

It's probably an act of heresy to say this, but the real explosive growth in Bitcoin acceptance would come if there was no privacy. It's been constantly dogged by reports of illegal and secret activities, and it would be good if it could move on from that. Let some other cryptocurrency pick up the "dark web" deals, and let Bitcoin become the respectable senior payment service that it is becoming.

But what's the point if there's no privacy? People will continue using Paypal etc. The main point of Bitcoin is that it is a system that works in the "void" outside of any government or permission. If you take this away, you take it's power away and it becomes some stupid fiat token, that's all.

[Cereberus]

Switzerland is the best option. The reason I don't want to say an offshore island like, Virgin Island ,Belize or Panama where there are more businesses registered than persons living there is because there the scams can be pulled off easily.

This is a perfect opportunity for such company to come on board and take over Coinbase and Circle place.

[bitkilo]

It's probably an act of heresy to say this, but the real explosive growth in Bitcoin acceptance would come if there was no privacy. It's been constantly dogged by reports of illegal and secret activities, and it would be good if it could move on from that. Let some other cryptocurrency pick up the "dark web" deals, and let Bitcoin become the respectable senior payment service that it is becoming.

But what's the point if there's no privacy? People will continue using Paypal etc. The main point of Bitcoin is that it is a system that works in the "void" outside of any government or permission. If you take this away, you take it's power away and it becomes some stupid fiat token, that's all.

Exactly, but unfortunately the privacy nature of bitcoin seems to get lost on some of the newer members ambitions of taking it mainstream.

[European Central Bank]

it doesn't matter where a company is based, if they're dealing with american customers then they're gonna get problems. let's get all american bitcoiners to renounce their citizenship then we might be ready to go somewhere.

[GreenLighter]

The blanket request is concerning

[chennan]

Idk if this is what you are talking about, but in terms of avoiding centralized exchanges in the US due to the IRS stuff going, you could just use bitsquare.io ... I know it's not exactly the best "noob friendly" exchange place to buy bitcoins, but it's definitely an option for people to avoid places like circle and coinbase.

Right now the interface and liquidity isn't exactly the best... that's why I still am always tempted to use a site like localbitcoins to buy P2P.

[RocketSingh]

maybe a Coinbase like service located in Switzerland would be nice in my opinion.

Then they wont be able to serve US customers.

[OROBTC]

maybe a Coinbase like service located in Switzerland would be nice in my opinion.

Then they wont be able to serve US customers.

SOMEONE is going to be able to solve that problem.  Some company will find the key to offer BTC in a very quiet way, probably located outside the USA, yet be resistant to investigation.  And be able to get the trust of customers.  And then they will make a ton of money!

bitmixer.io has such trust, and they seem to be resistant to investigation...

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Or perhaps offering BTC by credit card via the Darknet?