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Questions tagged [banks]

A place that holds your currency and keeps it safe.

2
votes
1answer
34 views

How does Bitcoin get over the capital controls problem?

So, people now talk about Bitcoin as a store of value instead of as a currency. I'm confused as to how central banks will respond to this? Right now, bitcoin is not widespread. Assuming bitcoin ...
1
vote
2answers
414 views

Blockchain vs. Banks: which one has more affordable transaction fees?

Maybe one of the issues researchers are trying to solve in blockchain protocols like Bitcoin or Ethereum is removing / decreasing "transaction fees". However, if we compare blockchain transaction fee ...
-1
votes
1answer
254 views

How do i cash the money from my NiceHash account to Paypal or European Bank account?

In my nicehash i have balance of 100 Euro. How do i cash the 100 Euro now to Paypal or my European bank account or do receive via Westurn Union?
0
votes
1answer
101 views

Do banks control ripple and how?

I would like to know how banks are controlling ripple. What are the implications with regards to transaction fees? If I sell my ripple, what do I stand to lose in terms of bank charges?
1
vote
0answers
74 views

Doesn't bitcoin have the same inflationary problems as fractional reserve banking?

I keep hearing that Bitcoin is immune to inflation because You can't make more bit coins than some fixed constant of bitcoins through a process of mining. However, assuming enough people take it ...
-2
votes
1answer
62 views

Buying actual bitcoins vs derivative paper products? [closed]

I bought some bitcoins on Localbitcoins and Coinbase a few months ago, as a purely speculative "investment". Now I noticed that there is a Bitcoin certificate with 1:1 leverage available at the ...
1
vote
0answers
163 views

Exit Strategy: How to communicate / configure my fiat bank when selling large amounts of crypto in a short period of time

Anyone can readily see by my previous questions that I have virtually no idea what I'm doing. Be that as it may, it seems very realistic that I may become a bitcoin (multi?)millionaire within the next ...
0
votes
1answer
324 views

How many transactions can a bank/person make per block

I’m trying to determine if bitcoin is too expensive for a bank to use. Assume that a bank would use bitcoin for something like confirming transactions between itself and another bank I’m asking how ...
2
votes
1answer
2k views

Transfer btc from offline wallet bitcoin core to bank account

What are there the ways to legal transfer money from offline bitcoin core wallet to my bank account, if i have more than 100 btc?
0
votes
1answer
66 views

Fees for transfering money by bitcoins and banks

When I send money to someone using the bitcoin network, I have to pay fees for converting my dollers to bitcoins in an exchange market, then I have to pay the miner fees then the Wallet fees to ...
0
votes
1answer
90 views

Bitcoin Vs Bank

Bitcoins are viewed as an alternative to traditional banking. There isn't a peer to peer passage of bitcoins. Like the banking agency is a mediator between the two people sending and receiving money; ...
3
votes
7answers
330 views

Justification of usage of Blockchain by banks

After learning a bit about Bitcoin and Blockchain Technology, I do not understand how any bank is going to use it. My understanding is that the blockchain is useful in an environment of mistrust. In ...
2
votes
3answers
372 views

Do banks exchange bitcoins to traditional currencies

If someone was not concerned with the anonymity aspect of bitcoin, can he/she exchange traditional currencies to bitcoins and vice versa from banks? Do banks do this? and if not, why?
1
vote
1answer
126 views

Why is the Winklevoss ETF decision so important, when this tracker certificate already exists?

The Winklevoss ETF and the SEC decisions regarding it seem to be on everyone's lips and the influence of the bitcoin price are apparent. However there seems to be this tracker certificate already: ...
1
vote
1answer
40 views

Like Banks, are there better service providers from Bitcoins banks? Can I Find a rating?

I would like to purchase Bitcoins, I am looking and honestly do not know what I am looking at. Is there a place to see how these Bitcoin places are rated? Services they provide?
1
vote
0answers
108 views

How do people in developing countries buy Bitcoin?

When there are only bank accounts of small bank institutes in undeveloped countries, how do people there buy Bitcoins? When there are only limited possibilities for global money exchange, how can ...
0
votes
2answers
170 views

Blockchain implementation in banks

Implementation of Blockchain in banks is said to be the new trend now. My question is: Would the private blockchain be kept private in a bank or will it be shared among a group of banks (or even ...
0
votes
1answer
231 views

How is bitcoin sent into my bank account?

I've been trying to find a way to transfer bitcoins from my bitcoin wallet into my bank account, I've gone to a couple sites that kinda use a similar method, but I don't really understand how it works....
1
vote
1answer
401 views

Do all Banks and Credit Unions in the U.S. accept Bitcoin?

Do all Banks and Credit Unions in the U.S. accept Bitcoin for deposits or withdraws?
4
votes
1answer
298 views

How do traditional transactions take place (paypal, banks, etc) in comparison to Bitcoin transactions?

Here we talk about bitcoins and blockchain. It is said they are more secured, and people ask questions about how they are implemented. Since I am a complete newbie to blockchain, and I don't know ...
9
votes
2answers
1k views

Why are banks and other centralized entities interested in block chains?

Apparently banks and other centrialized entities are interested in block chain technology. My question is, why? The whole point of block chains is for decentralized, trustless, consensus. Bitcoin, ...
0
votes
3answers
233 views

Can I force my company to pay me in Bitcoin

I just got my bank account closed. Reason: International payment were not supported I don't like to waste my time in bank formalities. I am a programmer. I wish to stay technical for most of the ...
2
votes
1answer
4k views

Is it safe to authorize Coinbase to withdraw cash directly from my bank account?

I wanted to buy Bitcoin. Coinbase said that they could transfer money directly from my U.S. bank account and convert it to Bitcoin, and then I'd have a Bitcoin address and could give people Bitcoin or ...
1
vote
1answer
188 views

why banks are trying consensus algorithms like ripple

I am wondering that why do we need consensus algorithm like ripple if all the nodes in a system is honest. There won't exist an use case of double spending. I am asking this question because recently ...
0
votes
1answer
65 views

How could Bitcoin lending be secured? [duplicate]

I have been thinking a lot about platforms that allow us to borrow/make money. Such a platform would be really wonderful, mainly for people in countries such as Brazil, which has high taxes on ...
1
vote
2answers
362 views

Send Bitcoin payments to any bank via API

I am looking into paying our overseas suppliers via bitcoin to speed up the process of settling invoices. The issue is that I don't want them to have to deal with bitcoin themselves. My question is -...
2
votes
2answers
119 views

I am looking for a reliable and low cost way to make loan repayments from Asia to the US. Are there any banks in the US that will acept Bitcoins?

I'm looking for a reliable, low cost, transparent and efficient way to make monthly loan repayments from Asia to the US each month. Are there any banks in the US that will accept bitcoins? So, I'm ...
1
vote
0answers
87 views

Banking partners with UK Faster Payments [closed]

What is the easiest way to have access to UK Faster Payments facilities as a Bitcoin business? The UK banks have been quite hostile. Can Bitcoin businesses have access to the Faster Payments network ...
0
votes
2answers
61 views

Where Bitcoin is kept and what fees are included when liquidating Bitcoin

I have small question, where does bitcoin "banks" keep money you pay them for bitcoins? do they keep it in some kinda bank ? and when we sell bitcoins to dollars what fee do we pay?
-3
votes
1answer
306 views

What prevents banks from printing electronic money?

I understand that this is not appropriate question but it obsesses me for a long time (other forums do not give certain answer) and I think that finantial cryptography experts should understand this ...
10
votes
7answers
24k views

Can I buy stocks with Bitcoin? [closed]

I have got some USD balance with a Bitcoin exchange. I intend to buy stocks for these USDs. Is there an online broker that accepts Bitcoin as a deposit option for stock market trading? I mean the ...
5
votes
1answer
444 views

When transferring money between a bank and bitcoin exchanges, might the bank suspend my account?

I'm based in the UK and am worried that my UK bank might have a problem with me transferring money to or from a bitcoin exchange, for example, Mt Gox. I know that Paypal will suspend an account if it'...
1
vote
1answer
49 views

Is access to mining the only obstacle to centralised bitcoin-like currency?

Considering the value of bitcoin beside dollars there seems to be so many applications where a centralised bitcoin-like system may be ideal for internal accountancy and transfers, especially among ...
-1
votes
2answers
5k views

Who are the owners of the Central Banks in Europe [closed]

(not sure where to ask about this, since there seems to be no generic finance forum in stackexchange). I am trying to find out who are the owners of the european central banks. I do not mean the ...
-4
votes
2answers
319 views

How can someone participate in Bitcoin reliably without a bank account? [closed]

If banks are what one wants to escape, as the banking system is corrupt. Therefore seeking an alternative currency, aka Bitcoin. How do you detach your life from the bankers? How is Bitcoin private? ...
1
vote
2answers
5k views

How to cash out E*Trade stocks (transfer funds from US to the EU) with Bitcoins?

My company has an employee stock purchase plan with etrade.com, but as I'm in Europe, I thought I could sell the stocks and save the bank transfer fees by using bitcoins. You can sell the stocks ...
1
vote
3answers
4k views

Can trading be done on coinbase.com?

On coinbase.com I tried to sell some bitcoins and was told I had to register a bank account. I'd have expected that only if I were trying to withdraw dollars, euros, etc., from coinbase. On mtgox ...
0
votes
2answers
271 views

Can Bitcoin be used in QuickBooks?

I'm wondering if I can manage my bitcoins with my other securities? Or incorporate them into a business plan.
1
vote
2answers
586 views

What are the “Know Your Customer” challenges that Bitcoin faces?

Can anyone explain what KYC (Know Your Customer) regulations are "missing", tough or impossible to implement with Bitcoin? I will offer a bounty to the most detailed answer (However this question is ...
8
votes
2answers
32k views

How untraceable is Bitcoin?

Are Bitcoins truly untraceable? For example: I want to buy Bitcoins with a Credit Card (e.g. through VirWoX) then I transfer them to a bitcoins address. After that I send them to some service like ...
7
votes
5answers
3k views

Why there's no bank or institution lending Bitcoins?

To the best of my knowledge, there's no bank lending in bitcoins, yet, which surprises me. Now that Bitcoin has stabilized to circa USD $100, I think it could be reasonable for an institution to start ...
7
votes
4answers
2k views

Bitcoin-friendly Bank

As is well known many Bitcoin businesses and in particular exchanges have had a lot of trouble working with banks. Are there any banks that are explicitly Bitcoin-friendly?
6
votes
2answers
654 views

How is a Ripple gateway different than a conventional bank?

Everything I've read so far suggests that a Ripple "gateway" is just like a bank. How is it different than a conventional bank? Is it possible to have a bank of banks (central bank) in Ripple?
6
votes
1answer
300 views

Pass-through bank account, that transfers everything to your wallet

Now you can buy everything worldwide with https://all4btc.com/ (former https://bitspend.net/ ) It would be nice to get money now also only in bitcoins. I would like to configure a bank account in ...
6
votes
9answers
2k views

What happens when bitcoin loans start to appear?

What happens when bitcoins loans start to appear? Loans have interest rates that "create additional value". Given the limited amount of bitcoins, couldn't we realistically run out of them? ...
4
votes
1answer
293 views

Could there be a “run” on Mt Gox? Does Mt Gox use my balance for other purposes behind the scenes?

It's conceivable that Mt Gox would re-use the outstanding balances (USD or otherwise) in other investments (BTC or otherwise). How much liquidity does Mt Gox have in BTC and Fiat dollars in case a ...
6
votes
4answers
7k views

How do I transfer funds from India to an exchange?

I want to buy a few Bitcoins using my bank account/ credit card from here in India. How do I do that? MtGox has an option to do wire transfer. Is it the only way to do it? If I transfer $1000, how ...
1
vote
1answer
287 views

Why is bitcoin better than other electronic banking, like Dwolla or Paypal?

Why is bitcoin better than Dwolla or Paypal?
3
votes
4answers
1k views

If you trade with bitcoins, how do you manage to “explain” anti-laundering authorities the money-in & money-out?

When trading with bitcoins using mtgox, or bitcoin-24, or bitcoin.de, you will have in your account many transfers of money, to many people and from many people. In europe if the sum of the ...
5
votes
2answers
625 views

Can Ripple gateways operate as fully transparent fractional reserve banks?

Any Ripple gateway that establishes a solid reputation will be tempted to switch to fractional reserve issuance of its own IOUs to increase leverage (which is exactly what the existing comercial banks ...