What's wrong with Chinese/Australian banks?

[zolace]

National Australia Bank shuts its doors to all clients connected to Bitcoin
http://bitcoinexaminer.org/national-australia-bank-shuts-doors-clients-bitcoin/

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[GTO911]

Just one look at this forum

NAB has recently conducted a review of businesses that trade in digital currencies and has determined that digital currency providers pose an unacceptable level of risk, both to our business and reputation

[knightcoin]

They dont have technology to deal with bitcoin, they live in 1980, and bitcoin is 2015 technology ...

it's a old fight between "the old" and "the new" ...  Intergenerational conflict lol

[Equate]

They want all the control over the money in their country and see bitcoin as threat to it.

[gaazje]

"It is worth re-mentioning that Bitcoin is not banned in China.  China has merely forced Chinese Bitcoin exchanges to operate outside of Chinese banks, fiscally.  China wants to limit the amount of Bitcoins that can be bought by Chinese citizens to a measly $50,000 USD worth annually, thus limiting capital flight by that method."

http://www.cryptocoinsnews.com/news/agricultural-bank-of-china-notifies-btctrade-need-halt-rmb-deposits/2014/04/10

[atp1916]

Only one more major exchange in China to go - BTC-China.

[jamesc760]

NAB in Australia is being tied to lawsuits against MtGox somehow. So they have decided it is just not in their best interest to continue serving bitcoin clients. Too many fraudsters and scammers in btc land right now. We must weed them out or else the existence of btc is threatened.

[zolace]

"It is worth re-mentioning that Bitcoin is not banned in China.  China has merely forced Chinese Bitcoin exchanges to operate outside of Chinese banks, fiscally.  China wants to limit the amount of Bitcoins that can be bought by Chinese citizens to a measly $50,000 USD worth annually, thus limiting capital flight by that method."

http://www.cryptocoinsnews.com/news/agricultural-bank-of-china-notifies-btctrade-need-halt-rmb-deposits/2014/04/10

That explain why Chinese are buying  bitcoin in the past week .

[gentacomp]

Just another fake to attack bitcoin, after price go down they buy itself. Just like PBOC...

[spazzdla]

They dont have technology to deal with bitcoin, they live in 1980, and bitcoin is 2015 technology ...

it's a old fight between "the old" and "the new" ...  Intergenerational conflict lol

People should take note of how these fights have ended.  I believe everyone that told me only geeks will ever own computers now has a smartphone.. if not 7 of them..

[Amph]

use bitcoin to buy/sell, used things, in face to face mode

gg banks?


those caveman should really stop hating on BTC....

[zolace]

Most of the banks owners are old people!Old people mentality is hard to be changed,they don't want understand bitcoin ,they fear it......but they should open their eyes/minds because bitcoin is the new wave and is going to hit very hard and wash them away .

[spazzdla]

A)  They are creating a brilliant buy chance for themselves

B)  They have no idea how to turn on a computer and the fact that something is gaining traction on the web to dislodge their strangle hold on the ecom scares them.

IMO more of the ladder.

[jparsley]

After mtgox scandal, most people lost faith in bitcoin

[zeeshanblc]

total control of what people do, have, spend, etc., Australia is the same as China

[waldox]

local banks dont want to lose control of the local fiat currency, banks benefit by minting it (seniorage), it lets them control the local govenment, and thus write the laws

in a  bitcoin based economy, it will be lead by people as people get the seniorage of minting bitcoin
we will truely experience a real direct democratic government as the bitcoin rich can influence government and bitcoin will promote direct democracy instead of this representative democracy which clearly is not working

we will achieve true democratic utopia if bitcoin succeeds and fiat fails

[counter]

the same thing that is wrong with the other banks elsewhere.  They are all dependent on the current system for survival.  Probably got debt beyond belief and limited options who knows these days.

[billysweird]

CHINA’S government banned financial institutions from trading in Bitcoin Thursday, in what analysts said was a restrained first step toward regulating the digital currency that has exploded in popularity in China and soared in value in recent months.

[sboldwary]

When the people is awaking the elite start to feel the fear, the bitcoin gives to the people the freedom to make transactions, and buy stuff away of the taxes of the banks and goverments.