Cyclone Posted July 1, 2011 Share Posted July 1, 2011 Pounds don't acrue any interest if you put them in a non interest paying account! Or under your mattress. And you can't have them all stolen with no chance of recompense if they're in a bank. Link to comment Share on other sites More sharing options...
Bulgarian Posted July 1, 2011 Share Posted July 1, 2011 And you can't have them all stolen with no chance of recompense if they're in a bank. Unless they are in RBS Link to comment Share on other sites More sharing options...
altus Posted July 1, 2011 Share Posted July 1, 2011 Amir Taaki is one of the people in Bitcoin who inspires confidence in me. He's always been impeccably honest in my dealings with him and he's one of the few people calling for financial regulation of Bitcoins and is trying to get FSA approval for his 'Britcoin' site. This from Amir Taaki "As well as being a developer, I own and operate http://www.Britcoin.co.uk . My team has been in negotiations for a long time now with lawyers and regulators. There is no regulatory process or restrictions now on the running of such services. Non-regulated sectors rarely seek out regulation. However, when it comes to bitcoins, I believe the sooner they are regulated the better. If their regulation is pushed by those who understand what bitcoins are then we may be able to regulate them in the best way possible and show the world they were not created for illegal practices. The sooner they are regulated, the sooner users can have legal assurances that merchants are liable for their operations. The negligence seen at MTGox would never have happened in a regulated market. Although the FSA have not made any official statement about bitcoins. We at http://www.britcoin.co.uk are hoping that we can show to the proper authorities that indeed we have recorded our history of transactions. That all the money in our users accounts is accounted for. This process would dispel the FUD surrounding bitcoins and allow the people of the world to enjoy the freedoms and wealth of bitcoins that much sooner." There is no chance Governments will allow bitcoins to succeed if they can be used for untraceably fund terrorism so Mr Taaki's recording transactions and attempts to get them regulated can only be good for them in the long term. The ability to track implies the ability to tax though which is one of the things bitcoins were designed to prevent. I'm not sure the majority of the people promoting bitcoins would see that as desirable. Link to comment Share on other sites More sharing options...
Phanerothyme Posted July 2, 2011 Share Posted July 2, 2011 As soon as the porn industry gets involved, it will fly. Guaranteed. Link to comment Share on other sites More sharing options...
Cyclone Posted July 2, 2011 Share Posted July 2, 2011 Unless they are in RBS Who's lost their money by keeping it in RBS? Link to comment Share on other sites More sharing options...
Nagel Posted July 2, 2011 Author Share Posted July 2, 2011 Who's lost their money by keeping it in RBS? Everyone who has savings in a bank is losing money at the moment as interest rates are lower than inflation. Link to comment Share on other sites More sharing options...
Bulgarian Posted July 2, 2011 Share Posted July 2, 2011 Who's lost their money by keeping it in RBS? Didn't they nearly go bankrupt ? Link to comment Share on other sites More sharing options...
Cyclone Posted July 3, 2011 Share Posted July 3, 2011 Yes, but a government scheme exists which guarantees the deposits of people with accounts (up to a certain value (which 95% will never go over)). Nagel - entirely different scenario to the one being discussed, you could say the same about everyone holding cash, FTSE 100% trackers for the past week, Silver that they bought in the last 3 months, etc... Link to comment Share on other sites More sharing options...
Nagel Posted December 27, 2011 Author Share Posted December 27, 2011 Well, Bitcoins are hanging in there and are increasing in value again. The longer they're around the more they will come to be regarded as a real currency. http://bitcoincharts.com/markets/intrsngGBP.html I wouldn't write them off just yet as they are the best way yet invented for moving money internationally as there's no exchange charge and there's no government regulation, although that will change if Bitcoins make it into the mainstream Link to comment Share on other sites More sharing options...
Hairyloon Posted December 27, 2011 Share Posted December 27, 2011 The ability to track implies the ability to tax though which is one of the things bitcoins were designed to prevent. I'm not sure the majority of the people promoting bitcoins would see that as desirable. Tax would be a small price to pay for the level of acceptance that traceability could give. Link to comment Share on other sites More sharing options...
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