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Author Topic: Banks comitting crime yet again.  (Read 592 times)
Herodes
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August 15, 2012, 12:20:37 AM
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http://www.brecorder.com/top-stories/0/1227745/

And still lot's of banks and other institutions are bitcoin unfriendly, yet they cooperate with banks that are criminal to a very high degree..
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August 15, 2012, 12:51:53 AM
 #2

http://www.brecorder.com/top-stories/0/1227745/

And still lot's of banks and other institutions are bitcoin unfriendly, yet they cooperate with banks that are criminal to a very high degree..

Why does this continue to surprise people?

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Herodes
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August 15, 2012, 01:02:01 AM
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http://www.brecorder.com/top-stories/0/1227745/

And still lot's of banks and other institutions are bitcoin unfriendly, yet they cooperate with banks that are criminal to a very high degree..

Why does this continue to surprise people?

It doesn't really surprise me. I guess this is how it is: Banks are what all businesses have to relate to, a business could change banks, but would still need to use a bank. For companies dealing with a lot of banks, there are probably no alternatives ?

But, the logical line of thought is that if the bitcoin unfriendlyness is anchored in the idea that bitcoins can be used for anonymous purchases of drugs on Silk Road, Illegal gambling etc, seeing as cash is used for the same in a much larger quantity + the fact that some/all banks do not care about trade embargos and other rules, how can a payment processor or bank reject a bitcoin business, while still cooperating with entities that clearly is breaking the law ?

What someone uses bitcoin for, is the business of that individual, just like it's the business of that individual what a stack of cash is used for.

Crime has existed at all times, and there's always been a way to move money for criminals. Point being that bitcoin is not inheritently evil. Bitcoin is neutral.

So.... we must just assume that the banking system is completely corrupt and evil, and we have to accept this ?

Bitcoin can, if big enough, be a threat to the established system, but with the amount of capital these banks have, I think we have a though fight in front of us.
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