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Author Topic: [2014-08-08] EU regulator tells banks to shun bitcoin  (Read 1274 times)
bitsmichel
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August 08, 2014, 11:19:51 AM
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LONDON Banks in the European Union  (EU) should refrain from offering customer accounts in virtual currencies like bitcoins until regulatory safeguards are in place, the bloc’s banking watchdog said on Friday.

The EU’s executive European Commission responded by saying it was imperative to look quickly at possible regulation.

Source: http://www.omantribune.com/index.php?page=news&id=170908&heading=Business

What do you think about this? I think banks will eventually vanish, we do not need them any more

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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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dserrano5
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August 08, 2014, 12:09:01 PM
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What do you think about this?

Old news.
LiteCoinGuy
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August 08, 2014, 12:12:01 PM
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nothing new.

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August 09, 2014, 08:23:40 AM
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Yea same old story... Their own ship is sinking and they ignoring the currencies that might save their ass.

They would rather ride a dead donkey than climbing into the car.  Grin Grin Grin

Leave them behind, while we drive around in the air-conditioned car, with speed control.  Wink

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August 09, 2014, 08:39:16 AM
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Banks are not going to vanish. Their services are still valuable even if bitcoin becomes mainstream. They are not offering bitcoin related services now because they are still uncertain about money laundering regulations. They are being cautious.
freakying99
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August 09, 2014, 08:50:06 AM
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Banks use fraction reserve, so if regulation like NY is used, banks could not use fraction reserve on Bitcoin. Thats why the wait I hope  Cheesy
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August 09, 2014, 01:53:59 PM
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Yea same old story... Their own ship is sinking and they ignoring the currencies that might save their ass.

They would rather ride a dead donkey than climbing into the car.  Grin Grin Grin

Leave them behind, while we drive around in the air-conditioned car, with speed control.  Wink

They would rather lose than watch their debt slaves live comfortably for once.  The banking elite is full of really sick and disgusting people that want less and less for others.
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August 10, 2014, 10:32:41 PM
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What else did you expect? Bitcoin wasn't created for the banks. It would be the best if they don't get involved at all.


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