BitBank in Cyprus

[balanghai]

great read, thanks for putting it all up together!

[JoeQ]

In Cyprus they are being covered.

Their system has very competitive rates, it will be cheaper to do business in Cyprus.

The payment system will accept bitcoin.

I can see why Cypriots would adopt a system that prevents their money from being taken out of their own hands.

I wonder where else, if proven effective, this could catch on next.

[pedrog]

In Cyprus they are being covered.

Their system has very competitive rates, it will be cheaper to do business in Cyprus.

The payment system will accept bitcoin.

I can see why Cypriots would adopt a system that prevents their money from being taken out of their own hands.

I wonder where else, if proven effective, this could catch on next.

Spain is a good candidate, Greece probably too, Portugal might take a while.

[JoeQ]

Spain is a good candidate, Greece probably too

I could see Greece taking to it quicker than Spain. But if they get pushed much further, it could happen. Hell of a thing if they did. Total game changer.

[cr1776]

There are countries in South America and Central America that would benefit from this if/when it catches on.  Venezuela, Argentina among others.

Given the state of the world and banks today, many people would benefit from hedging a little in bitcoin, gold, silver etc. anywhere in the world where governments want to take money from one person to give to another.   :-)

I can see why Cypriots would adopt a system that prevents their money from being taken out of their own hands.

I wonder where else, if proven effective, this could catch on next.

[pedrog]

Spain is a good candidate, Greece probably too

I could see Greece taking to it quicker than Spain. But if they get pushed much further, it could happen. Hell of a thing if they did. Total game changer.

I put Spain first because there's a lot of libertarian, anarchist, anti-system folk around there, also bitcoin has gain some popularity in Spain after Cyprus crisis, don't know much about Greece...

[OleOle]

Here's an article from yesterday about Bitcoin ATM's in Canada:

http://www.ibtimes.com/worlds-first-bitcoin-atm-coming-canada-robocoin-kiosk-hits-vancouver-october-1404346

Any mainstreaming of BTC facilities has got to be a positive thing for the currency.

[honky1492]

So, exactly what is a "Bitcoin Bank" going to do, considering the fact that the whole purpose of Bitcoin is get rid of banks..?

The purpose of bitcoin is having an efficient currency/payment method for the digital age.

You mean Exchange instead of Bank? Because Bitcoin users dont need Bank to hold their private keys and broadcasting their transactions 

[Skoutz]

exchange might be a better word than bank