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rohnearner
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March 05, 2014, 07:18:55 PM |
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Just wanna know what is the legal stand of Canada on Bitcoins..? because this incidents appears like RBC treats bitcoins as drugs, is it a problem with a particular bank..!
It's still quite a grey area, it's legal as far as I know but since we have an oligopoly of 6 banks here, they do whatever they want and that's a real problem. Now matter weather its Canada or India all those politicians/corporates will keep it in that grey area for as long as possible, so that they can scam innocent people . we need some kinda change and one day i hope it will change. have faith in BTC |
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Sitarow
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Activity: 1792
Merit: 1047
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March 05, 2014, 07:21:50 PM |
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Just wanna know what is the legal stand of Canada on Bitcoins..? because this incidents appears like RBC treats bitcoins as drugs, is it a problem with a particular bank..!
New update from Cavirtex http://www.youtube.com/watch?v=1qETYr2EsiI#t=5 |
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Cryptolator (OP)
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March 05, 2014, 07:23:04 PM |
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Just wanna know what is the legal stand of Canada on Bitcoins..? because this incidents appears like RBC treats bitcoins as drugs, is it a problem with a particular bank..!
It's still quite a grey area, it's legal as far as I know but since we have an oligopoly of 6 banks here, they do whatever they want and that's a real problem. well now you have the opportunity to test the limits of bitcoin to the fullest instead of looking for another bank, look for ways to work around the banks only using btc, call it forced progress or you can spearhead a bitcoin foundation of canada and start talking to the banks, central banks, and any other national financial regulators to have btc respected if not codified I hate the very notion of a bank looking analyzing my account outside of the numbers. How did they make the bitcoin association? Simply by the name of my company, I suppose... |
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jamal01
Newbie
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Activity: 10
Merit: 0
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March 05, 2014, 07:25:30 PM |
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Out of curiosity - were you making excessive deposits by any chance? Or was the bank just account pretty much inactive, and the description was just related to being a Bitcoin business?
The name of the company is Cryptolator Cryptomonnaies Physique (in english it would be: Cryptolator Physical Cryptocurrencies) so that is probably the problem and why it has been flagged. Anyway when I registered the account they asked a lot of question on what would be the purpose of the company and what I'll be selling, I didn't want to lie and have problem later. The account was inactive for the moment.. Wow so they are actively seeking out Bitcoin companies and preventing them from operating...crazy. Not surprising but still disappointing. Not sure if you have any DC Banks there but look into them. Cavirtex uses them so they are likely bitcoin friendly. RBC is known to hate Bitcoin - the way they just shut down Cavirtex and refused to let the company hold a bank account with them was crazy. TD as well - you can tell by the fact that they removed VOGOGO as a bill payment option (it is used to import CAD into Cavirtex) It is sad but this is the world we live in |
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CryptoPanda
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March 05, 2014, 07:30:00 PM |
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It's funny how big institutions can act like scared idiots.
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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March 05, 2014, 07:32:38 PM |
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We should open the Bitcoin Bank?
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Cryptolator (OP)
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March 05, 2014, 07:34:02 PM |
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We should open the Bitcoin Bank?
I'm in !  |
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Armis
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March 05, 2014, 07:35:08 PM |
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We should open the Bitcoin Bank?
there are two in the world that I know of. |
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Peter R
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Activity: 1162
Merit: 1007
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March 05, 2014, 07:35:47 PM |
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This is another example of anti-fragility at work. Resistance from banks pushes innovators to prefer transacting on the blockchain, further severing the link to fiat and expanding the bitcoin-to-bitcoin economy.
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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March 05, 2014, 07:36:15 PM |
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We should open the Bitcoin Bank?
there are two in the world that I know of. Provide links. Where? |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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traderman
Legendary
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Activity: 1260
Merit: 1001
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March 05, 2014, 07:38:02 PM |
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I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.
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Armis
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March 05, 2014, 07:41:10 PM |
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We should open the Bitcoin Bank?
there are two in the world that I know of. Provide links. Where? do a search for 1st bitcoin bank in the world, you will see a listing then in the listing it will refer to an earlier bitcoin bank with a name like 'bitcom bank of islam' they do interest I'll try to find them again here is one: https://bitcointalk.org/index.php?topic=21732.0 |
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Cryptolator (OP)
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March 05, 2014, 07:44:34 PM |
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I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.
I do understand, but what I'll be selling is to facilitate having secure storage for Bitcoin. I'm not selling or buying Bitcoin. I think that being able to buy it with fiat make it simpler for a lot of peoples. |
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Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
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March 05, 2014, 07:45:12 PM |
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do a search for 1st bitcoin bank in the world, you will see a listing then in the listing it will refer to an earlier bitcoin bank with a name like 'bitcom bank of islam' they do interest I'll try to find them again here is one: https://bitcointalk.org/index.php?topic=21732.0We need one somewhere like in the US, Canada, UK. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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spazzdla
Legendary
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Activity: 1722
Merit: 1000
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March 05, 2014, 07:47:55 PM |
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THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.
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jamal01
Newbie
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Activity: 10
Merit: 0
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March 05, 2014, 07:51:04 PM |
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THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.
Are you selling bitcoins? If you are guaranteed they will eventually. Happened to me - and only a matter of time until localbitcoin vendors can only accept cash in person. |
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niothor
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March 05, 2014, 07:52:38 PM |
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I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.
Without banks , bitcoin wouldn't have reached 1000$. 90% of the trading is done with money sent via banking systems. And don't fool yourself , even with fiat money gone , banks will still be there. |
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Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
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March 05, 2014, 07:58:07 PM |
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THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.
Then close it, better safe than sorry. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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aztecminer
Legendary
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Activity: 1092
Merit: 1000
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March 05, 2014, 08:01:08 PM |
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I just got a call from RBC (Royal Bank of Canada), they said that they closed my commercial bank account because my activities are related to Bitcoin. I don't even sell or buy Bitcoins. I create physical encapsuler for physical cryptocurrencies (Not yet released). I will close all my account at RBC and never deal with those scared crooks anymore. I would suggest anyone having account with RBC and believing in Bitcoin to do the same. I'm really angry right now ! Anyway, I needed to share that with you.  Would like to have your thought on that. Please up vote on reddit: http://redd.it/1zn5onwell that was dumb of them .. they shoulda kept u for their bail-ins they gonna do soon .. |
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