Questions tagged [banks]

A place that holds your currency and keeps it safe.

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14
votes
9answers
497k views

How can I sell bitcoins and transfer the funds to my bank account?

A friend of mine gave me two bitcoins which I now want to sell. I don't understand the process which would enable me send the funds generated to my bank account.
35
votes
6answers
3k views

What would a country adopting Bitcoins as official currency have to reinvent?

Let's say that a country decided to ditch their currency and go for Bitcoins. What would this country have to reinvent. The reason why I ask, is because I believe that if a tiny country was to adopt ...
8
votes
3answers
11k views

What is the cheapest Cash-to-Bitcoin Service? [closed]

There seems to be a few services to purchase bitcoins from out there, as in bitinstant, MtGox, bitcoin.de, etc. I would like to know if someone has looked around to find the one with the cheapest ...
15
votes
5answers
70k views

How can I convert bitcoins to Indian rupees and vice-versa?

How can I convert bitcoins into Indian rupees (INR) and get them in paper rupee notes?
11
votes
7answers
43k 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 ...
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, ...
10
votes
2answers
996 views

Is there a solid "Bitcoin Bank" yet?

Once MyBitcoin was thought to be a "solid bitcoin bank". Then it was hacked and a lot of people lost a lot of money there. Is there another, secure alternative for storing Bitcoins except storing ...
8
votes
6answers
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 ...
4
votes
3answers
832 views

What are the advantages of sharing money in hosted e-wallet services?

I was a little bit shocked to learn that many (if not all) hosted e-Wallet providers combine their customers money in the hosts account, instead of just providing a service for easy access and storing ...
0
votes
1answer
410 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....
8
votes
5answers
1k views

Should fractional reserve banking be prohibited through the bitcoin protocol or otherwise, and how could such a change be implemented?

There's a massive macroeconomic debate between Keynesians, who want central banks to control the money supply, and Austrians who want no central banks doing any such thing--or at least competing ...
15
votes
2answers
2k views

Why do so many bitcoin exchanges have their bank accounts closed and have problems establishing bank accounts?

I find it really strange that it happens that so many Bitcoin exchanges have their bank accounts closed. Outside of the Bitcoin world, I find it very unusual to have a bank account closed, for a ...
15
votes
5answers
1k views

How would interest and fractional reserve banking work in a limited money supply?

Suppose Bitcoin lenders (banks, creditors, investors) issue loans with interest. As the total supply of bitcoins approaches the 21M ceiling, the total amount owed in outstanding interest will exceed ...
6
votes
4answers
8k 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 ...
6
votes
3answers
381 views

What are the qualities of a country that might make it more or less likely to freely allow Bitcoins or crypto-currencies?

As some examples which seem logical to me, but should only be taken as examples: A government that is susceptible to commercial lobbying is probably more likely to be pressured by banks to disallow ...