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Author Topic: Tradehill SEPA account frozen!  (Read 5385 times)
Yuusha
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July 30, 2011, 03:40:54 PM
 #41

We do not lie to our bank, and that's the reason why we have so much trouble getting a new European bank. We have a full presentation (what is bitcoin, etc) and explain to each financial institution what we are dealing with.

Secondary, neither Tradehill nor MtGox is conducting any financial business. We accept deposits from users for the purpose of buying a service, that's a common system known as "prepaid", used by many merchants around the world. You can ask for a refund ("withdraw"), and that's not a problem either.

We are, however, talking with the FSA about Bitcoin and want them to understand and let us know if there is any specific requirement for us.
Ahh, the joys of legal loopholes Cheesy
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JackH
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July 30, 2011, 04:04:52 PM
 #42

Well MtGox probably lies to their bank as well. I cant see how the bank would know and accept that this happened.

Secondly, neither Tradehill nor MtGox are approved by any financial regulatory unit to conduct financial business - that is holding money on behalf of third party.

I dont think anything will change, except if the established banking industry REALLY goes to hell and people start rethinking the model of the banking world. Right now its the same as usual.

We do not lie to our bank, and that's the reason why we have so much trouble getting a new European bank. We have a full presentation (what is bitcoin, etc) and explain to each financial institution what we are dealing with.

Secondary, neither Tradehill nor MtGox is conducting any financial business. We accept deposits from users for the purpose of buying a service, that's a common system known as "prepaid", used by many merchants around the world. You can ask for a refund ("withdraw"), and that's not a problem either.

We are, however, talking with the FSA about Bitcoin and want them to understand and let us know if there is any specific requirement for us.

Well if you get FSA to say this is alright then you have reached a milestone! That would probably be the biggest ever happening to Bitcoin! I wish you very good luck with this.

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
jtimon
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July 31, 2011, 10:29:16 AM
 #43

Ey, people, wasn't this thread about SEPA transers and tradehill?
You can discuss the future of bitcoin in another one.

OFFTOPIC: cypherdoc, do you still want the ruxum invite?

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
ThomasV
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July 31, 2011, 11:39:34 AM
 #44

I tried mentioning Bitcoin to 3 Swiss banks as I was planning to setup an exchange. They all said no!

Had I lied, I would have gotten accounts open.

That is the world we live in people, BTC is not welcome, FACE IT

Would you mind making public the names of these three banks so that we can properly boycott them ?

In the world we live in, I do have a main bank account in a major bank, as well as several saving accounts. I would be willing to close these accounts and transfer my assets to a bitcoin-friendly bank, if it turned out that my current bank takes actions against Bitcoin. As for a bitcoin-friendly bank, I would probably pick the new bank to be announced by MtGox. And I would make my reasons very clear to them.

I hope I am not the only one willing to do that.


Electrum: the convenience of a web wallet, without the risks
JackH
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July 31, 2011, 11:47:16 AM
 #45

Well if we make a boycott list its sooner or later going to contain all the banks of the world. What I experienced was not a special case, it was a common case. You try for yourself to call 5 random banks in the country you live in. Explain what Bitcoin is, if they havent heard about it (most probably have since they ganged together to ban it), and see the result. I bet that you get five no's from five banks.

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
txcoin
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August 10, 2011, 12:42:39 PM
 #46

Well, as of now there is a new SEPA account for TradeHill with a German bank.

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