Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[adamstgBit]

This is craziness!

buy Buy BUY! 

[telemaco]

to da moon !!

http://en.wikipedia.org/wiki/Charon_(moon)

[prophetx]

There are now four identified examples of this: two major national banks restricting the availability of international wires, and a small state bank and a credit union eliminating them altogether.

https://www.uhcu.org/Site-Alerts/Member-Notification
https://online.1stnb.com/LoginAdv.aspx

huh weird why are some completely stopping intl wires... then this article makes no sense... well it is forbes so...

http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/

[Ivanhoe]

There is no smoke without a fire.

[freethink2013]

There are now four identified examples of this: two major national banks restricting the availability of international wires, and a small state bank and a credit union eliminating them altogether.

https://www.uhcu.org/Site-Alerts/Member-Notification
https://online.1stnb.com/LoginAdv.aspx

huh weird why are some completely stopping intl wires... then this article makes no sense... well it is forbes so...

http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/

It's capital control. They haven't said "ok we're increasing the charges to transfer money to europe" they've said "you cannot transfer your money"

[molecular]

holy fuck BUY!!!!!!!!!

Foreign Wire Transfers: Due to recent regulatory changes, effective 10/1/13, FNBT/FCB will no longer offer foreign wire transfer services through Internet Banking or in banking centers.

If you need to send funds to a recipient in a foreign country, you can go to www.westernunion.com to send a transfer using your Debit MasterCard® or visit your local banking center to send a Western Union in person.

puahaha whaaaaaat? They're sending them to western union? Really?

That's ridiculous!

WOW! Unbelievable... and also very good news for the bitcoin-based remittance startups

thats not all!

I have a friend that works at the US/CAD boarder

he got a memo about bitcoin

it said

"let the bitcoiners cross with wtv amount of bitcoin they like, their is no need to declare bitcoin holdings" ( or somthing to that effect )

thats right bitches, bitcoiners are getting special treatment  

normally you can't move ANYTHING of value across the board with declaring it.

why is bitcoin special? because they realize they would not be able to enforce it if they tried? idk, all i know is Bitcoin is special!!!

 

would be nice to get a real source for this info... not that its the most exciting news, but still would be nice to know i'm not giving out false infos

Thing is: you're not moving anything, really. Technically bitcoins don't even exist in a sense and legally it's questionalbe wether it's even possible to own them.

Analogy: If you have a ssh-key on your laptop that allows access to some webserver... are you "moving the webserver" when you move your laptop?

[molecular]

OK, that is starting to make my spidey senses tingle. Something is afoot.

There have been some other signs, too that shit is going to have a talk with fan about some issues soon.

Better hold on to those coins.

[joesmoe2012]

Basically if you exceed the limits they just auto-upgrade your account.

This is getting blown way out of proportion.

[molecular]

https://www.uhcu.org/Site-Alerts/Member-Notification

United Heritage Credit Union’s decision to discontinue outgoing international wire services is resultant from a new consumer protection regulation. United Heritage Credit Union will be able to service your international wire transfer needs until October 19, 2013 and we recommend that you use this time to research alternative means to send funds to foreign locations. Companies providing international wire services include Western Union® Consumer and Western Union® Business Solutions Online FX. Please visit westernunion.com for more details. Please review their information to determine what best suits your international wire needs.

Yeah, we better protect the consumer from being able to send his money abroad. WTF.

And also: puuahahaaa. Western Union again.

[molecular]

https://www.uhcu.org/Site-Alerts/Member-Notification

Good find..

Something is very odd here

everything is going according to plan 

I agree. It just seems everything is speeding up greatly lately.

[freethink2013]

cypress was the beta test. next is the bail-in.

How it it we even know the term "bail-in"? That's something those banker scum made up once we bailed them out the first time.

We emboldened them with the bail-out and now they want more.

[molecular]

I like how the first comment is about Bitcoin

http://www.economicpolicyjournal.com/2013/10/shock-hsbc-usa-joins-chase-in-limiting.html?utm_source=twitterfeed&utm_medium=twitter

also this comment (one of the answers to the first bitcoin comment) is golden:

capital controls may be meaningless to bitcoins...but the inflation that follows will not! Your purchasing power will be eroded, one way or another...

[molecular]

guy on reddit sheds some light:

What is going on is there is an amendment that is being added to Regulation E, called the new remittance transfer rule. It is part of the Dodd-frank act, and this new rule is made to create 'consumer protection' so that you can cancel a wire within 30 minutes of making it, know what fees there are, etc. I did a more detailed write up on my blog that has links to sources and all that jazz.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.

[theonewhowaskazu]

guy on reddit sheds some light:

What is going on is there is an amendment that is being added to Regulation E, called the new remittance transfer rule. It is part of the Dodd-frank act, and this new rule is made to create 'consumer protection' so that you can cancel a wire within 30 minutes of making it, know what fees there are, etc. I did a more detailed write up on my blog that has links to sources and all that jazz.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.

I love consumer protections. They generally go something along the lines of "consumers can't use X unless BLAH". They make me feel very protected.

Still, this doesn't explain the cash withdraw limit.

[telemaco]

http://btctheory.com/2013/10/17/international-wire-fees-going-up-from-the-new-remittance-transfer-rule/

[ChartBuddy]

[ChartBuddy]

[theonewhowaskazu]

http://btctheory.com/2013/10/17/international-wire-fees-going-up-from-the-new-remittance-transfer-rule/

sent two wires today, took about 45 min at the bank... god i love btc...

time is money....

The funny part is you then still have to wait about a week for the money to actually be transferred. Its numbers for god's sake, what takes so long? I don't even know why its so slow TBH.

[telemaco]

http://btctheory.com/2013/10/17/international-wire-fees-going-up-from-the-new-remittance-transfer-rule/

sent two wires today, took about 45 min at the bank... god i love btc...

time is money....

Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.

When will these dinousaurs extinct?

[joesmoe2012]

http://btctheory.com/2013/10/17/international-wire-fees-going-up-from-the-new-remittance-transfer-rule/

I can send same day wires to most of the world.

http://btctheory.com/2013/10/17/international-wire-fees-going-up-from-the-new-remittance-transfer-rule/

sent two wires today, took about 45 min at the bank... god i love btc...

time is money....

Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.

When will these dinousaurs extinct?

sent two wires today, took about 45 min at the bank... god i love btc...

time is money....

Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.

When will these dinousaurs extinct?

Most people are able to send a wire online in less than 3 minutes. Sounds like you need a better bank.