Mind = blown. We have witnessed something historical here.
Mind = blown. We have witnessed something historical here.
Prediction: say goodbye to USD.
Before you start a trade, you will see a dropdown at the bottom of the popup window if the seller has more than one type of bank account available.
Choosing your bank from the list is optional but is highly recommended so that the seller can choose the best type of bank for the transfer. Transactions between parties using the same bank are usually much faster. This is especially the case with HSBC who will often delay payments til the next day at night (except for intra-bank payments).
<MrBTC> Thar she blows!
Bearwhale art from http://imgur.com/a/6rk2e
One issue many of the bitcoin sellers are facing is Direct Debit Fraud. It is not only bitcoin sellers though. Many years ago, Jeremy Clarkson had publicly claimed that some of his banking details were safe to give out in order to prove a point. Then he was fraudulently charged £500, resulting in the following statement:
"I opened my bank statement this morning to find out that someone has set up a direct debit which automatically takes £500 from my account."
"The bank cannot find out who did this because of the Data Protection Act and they cannot stop it from happening again."
"I was wrong and I have been punished for my mistake."
Props to the man who admits when he’s wrong. In his defense, it is understandable why he assumed that banks wouldn’t let a random person spend his money so easily while blocking payments for security reasons, questioning your use of your own money when you try to withdraw a few thousand pounds of cash, making you use security devices, card readers and a ton of inconvenient security measures… But that is exactly how it is.
Read on to learn more about how it’s done in practice and why it is a serious problem.
Thousands of Americans abroad are giving up their citizenship as the implementation of a complex new tax law causes banks to shut down accounts for US expatriates.
In February this year, the US and Canadian governments signed an intergovernmental agreement to co-operate on Fatca. The Foreign Accounts Taxation Compliance Act required all foreign banks to disclose the financial information of any American with assets over $50,000 sitting in banks outside of the US.
Possibly to stem the tide, the state department raised the fee for citizenship renunciation fourfold on September 12, from $450 to $2,350. Officials seem to be hoping the steep fee will discourage more people from giving up their passports.
I got my hands on a Trezor a few days ago. After extensive testing and sending BitBargain’s 400 BTC of cold storage to it, I am now happy to recommend it to anyone.
Trezor is a small device that you can even put on your keychain. It comes with an LCD screen, two buttons and a USB connector.
It is child’s play to send and receive bitcoins, and you don’t have to worry about whether the computer you are using it with is secure or not.
Get your coins at a discount price :-)
1. Wall Street Money Will Flow Into The Bitcoin ETF. As soon as a person can go to their brokerage account, type in the symbol COIN and buy now, it will put upwards pressure on the price of Bitcoin. There are many wealthy investors who would like to get into Bitcoin but they feel uncomfortable that Bitcoin is not in their name, that they need to backup a wallet, and they need to keep their computer virus free. The Winklevoss ETF will allow the average wealthy investor who is a not technology expert to put large amounts of money into Bitcoin.
2. The Winklevoss ETF will be promoted as currency diversification on Wall Street Bitcoin is already being regarded by Wall Street as a new currency. The US dollar, Euro, and Yen have been undermined as a store of value. It will be advertised to clients as a high risk, high reward alternative currency.
3. Trading of the ETF will only be open during stock market hours The COIN ETF can only be bought or sold during the NASDAQ market is open in the United States. This means that the Wall Street investor will only be able to access Bitcoin trading from 9:30 AM EST to 4:30 PM. During this time period, there will be increased volume and more news released about Bitcoin. In the downtime there will be massive speculation about where the Bitcoin ETF will open and for what price. There will be discrepancies of the price between Bitcoin exchanges and the Bitcoin ETF.
4. Liquidity in Bitcoin markets will increase dramatically. There will be many more Bitcoins trading hands on a daily basis as the Bitcoin ETF will be required to allow shorting as well. This means that investors can bet that Bitcoin will go down as well. When the Bitcoin ETF opens, it will be much easier for Bitcoin Bears to bet that the price will go down. However, this is good for the price of Bitcoin as it will allow investors to bet both sides of the Bitcoin, increasing Bitcoin transactions
5. The Bitcoin ETF is required to buy additional Bitcoins Details of the Winklevoss ETF reveal that as more money flows into their trust, they are required to buy Bitcoins. Since the supply of Bitcoins is limited, this means they will have to buy from exchanges or over the counter purchases. Recently, the Winklevoss Twins announced they would pay in Bitcoin to go to space via Richard Branson’s Virgin Galatic.
The Bank of England, talking about Bitcoin!
This will be an offtopic post.
Seller application fee: used to be 0.05 BTC, is now 0.02 BTC.
Bank verification fee: used to be 0.02 BTC, is now 0.01 BTC.
Both the mean and the median average of trade times have decreased. Maybe the banks have upgraded, maybe the number of time wasters and people trying the system without making a payment is on the decline. Either way, we love it.
The bottom line is: if you start a trade with a seller on BitBargain, typically you will have the bitcoins in your wallet 4 minutes later.