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Author Topic: Bitcoins UK future looks bleak  (Read 5824 times)
ch3weh
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November 20, 2013, 02:11:04 PM
 #21

Has anybody here in the UK tried opening an offshore bank account? Wondering how easy it is.
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Lethn
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November 20, 2013, 02:56:58 PM
 #22

Has anybody here in the UK tried opening an offshore bank account? Wondering how easy it is.

As long as you report how much you earn and pay your taxes I don't think it bothers them in the slightest, you'll see many banks in the UK offering offshore options, I haven't tried opening an account yet though but I do plan to just so if we have a bank run I'll still be able to use my money.
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November 24, 2013, 04:03:25 PM
 #23

Has anybody here in the UK tried opening an offshore bank account? Wondering how easy it is.

I have. You need proof of id (like a passport) and proof of address. You also need a reference from a professional that states you are of good character. It's not to difficult just frustratingly time consuming.

As the UK continues its trend and sinks further into socialist/kleptocratic poverty, expect this to get more difficult.
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November 24, 2013, 05:06:31 PM
 #24

So, with an offshore account you only need to declare a capital gain when you move the money from it, into the UK? That would be transferring into your UK account or even technically spending with an offshore debit card??
deepSix
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November 24, 2013, 05:46:43 PM
 #25

Excellent article and as you say the future looks bleak.

However while I can still make SEPA transfers to and from exchanges I see no reason to get left behind on an individual level. If BTC does start getting the nod of approval from other countries around the world then expect to see furious backtracking.

The part about preventing crime is laughable when you look at banks past records.
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November 25, 2013, 04:43:49 PM
 #26

funny that banks, which are biggest crime centers telling us what is crime and what is money laundering. if u watch video flying arround this forum about banks, goverments and money u will understand why UK blocking so much bitcoin raise. they just know they will fail and one day they will have no option to accept it. when regulations about btc will show on horizon that will be the time when game will change to serious shit.

soon goverment will try something to stop, block or regulate btc world.
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November 26, 2013, 01:35:36 AM
Last edit: January 07, 2019, 11:36:33 PM by kurious
 #27

Can't read the link - so I may be talking out of turn, but personally I have found getting into bitcoin ok - troublesome, but ok.

There is one exchange with a uk bank account - pricey but fast and taking uk bank transfers:

velaexchange.co.uk

I only use this as I can't get money to Bitstamp fast now - Transferwise won't do BTC-linked transfers. I used to use OKPay to get into Mt Gox but that's gone as an option too.

Sepa to Bitstamp works - it's just slow Sad

Once you do have coins, then you can get onto Mt Gox and all exchanges (I am on Stamp and Gox)

Bitstamp is the best bet for European exchanges, but I wouldn't keep too much on any one exchange, you never know!

The UK will come around eventually - London will want its cut when they see the money flying in.

For now - just get in and enjoy the ride...?






我想要火箭和火车
jago25_98
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November 27, 2013, 04:05:52 PM
 #28

Stumbled on the UK FOI request here:
https://www.whatdotheyknow.com/request/bitcoin_minutes_3#incoming-443667

And the earlier USA one to compare:
https://bitcointalk.org/index.php?topic=103276.20

"Bitcoin themselves are not a currency and therefore are
outside of the FCA’s regulatory remit"
^ this was their view... however... their view can change as we infer from the next section....

"Confidential information for these purposes is defined as non-public and
non-anonymised information which relates to the business or other affairs
of any person (without their consent) and which was received by the FCA
for the purposes of, or in the discharge of, any of its functions under
FSMA and which is not in the public domain."

"disclosure of the material requested would be likely to prejudice
the United Kingdom’s relations with another State"

^ The UK is probably working with the USA on this. The UK will probably follow whatever decision the USA takes. The UK did not see Bitcoin as a currency but if the USA does they will probably copy that stance.
 All guesses, but better than nothing.


If this is smoke and mirrors,
the FOI isn't always enforced so well. The key would be to leak info showing that it's flaunted to remind. An example of another fail:
https://www.whatdotheyknow.com/request/what_was_your_bas_observer_obser#outgoing-204061

Looking at requests in general you see more refusals around financial subjects. The key could be to not ask directly but to investigate something around the subject and hope they mess up with info that allows us to confer the facts. We could divide requests up separately and cross-corrolate.

Remember, these are FSA requests, now it's renamed as the FCA.

Bitcoiner since the early days. Crypto YouTube Channel: Trading Nomads | Analyst | News Reporter | Bitcoin Hodler | Support Freedom of Speech!
techstorm2
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November 27, 2013, 09:21:47 PM
 #29

Excellent article and as you say the future looks bleak.

However while I can still make SEPA transfers to and from exchanges I see no reason to get left behind on an individual level. If BTC does start getting the nod of approval from other countries around the world then expect to see furious backtracking.

The part about preventing crime is laughable when you look at banks past records.

Exactly right

Libor rigging, forex rigging, rbs pushing businesses to the wall to grab their assetts.

Who trusts banks nowadays, they are a neccessary evil.  Wink as soon as we remove the necessary part the system will improve.

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