Questions tagged [banks]

A place that holds your currency and keeps it safe.

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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
297 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
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 ...
1
vote
1answer
289 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
634 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 ...
5
votes
2answers
2k views

Setting up a coinbase like service in India , need suggestions

I have read and researched extensively on bitcoin, but I haven't found any service like coinbase that allows a user to buy or sell bitcoins online without having a US bank account. So how can one ...
3
votes
2answers
685 views

Strategies against Bitcoin

With the recent increase in articles about the threat of Bitcoin vs central banks, government and other authorities over the money supply, I am wondering how well authorities are prepared and actively ...
1
vote
4answers
968 views

Is mining the unfair part of bitcoin in the same way banks (or rather, fractionary reserve systems) are to current monetary system?

I've been reading a lot about bitcoin lately and I'm very interested. Especially, when it comes to making a currency that is way more fair, because it avoids a centralized control of it. However, in ...
1
vote
2answers
217 views

Can a bitcoin bank solve the problem of intensive value fluctuation caused by hoarding?

Let's assume a bank dealing in bitcoins is not any central of government bank that could control the money supply. Instead, let's say there was a bank where the people would deposit money at some ...
1
vote
0answers
228 views

Zero Percent Interest Nonresident Free (Online?) Euro Checking Account with Good Service for Cashing out Bitcoins?

You can cash out bitcoins the cheapest way in Euros, right? I'm from the EU but my country is not in the eurozone, so that's why I need a convenient nonresident euro account. I'm looking for the ...
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?
4
votes
4answers
2k views

How does bitcoin manage the money supply?

All currencies are expanded when institutions begin loaning currency. How will bitcoin limit this growth? In economics there are several definitions of money such as M2, M3, etc.
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 ...
4
votes
3answers
828 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 ...
-4
votes
2answers
83 views

A different question about a kind of use [closed]

Imagine I want to change the formula of transactions between a group of people who want to use this money in this way: "Everyone will have a maximun quantity of money to waste in the month, and ...
4
votes
1answer
1k views

What is the story behind MtGox and their French bank?

MtGox has their French bank account closed last year, as the bank stated they aren't legally allowed to undertake the activities they were doing in regards to trading Bitcoins. There have been a few ...
-3
votes
3answers
677 views

What are the quicker ways to use my bitcoins for paying in usual shops (off- or online)? [closed]

I have some bitcoins which I want to use for payments in the "usual" shops around me (not accepting bitcoins, but accepting plastic cards), and in a quicker way. Previously, I used http://metabank.ru ...
11
votes
2answers
2k views

Why do both Mt. Gox and Intersango use Polish banks?

Since their previous France and UK accounts were closed, both Mt. Gox and Intersango set up accounts in Poland. Is there a specific reason why they chose Poland?
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 ...
6
votes
3answers
380 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 ...
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 ...
35
votes
9answers
12k views

Is there a Bitcoin bank, which gives interest on my deposit?

Is there any Bitcoin bank I can place my Bitcoins in that will give me a decent interest rate. It should be at least 1% for it to be worth it.
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 ...
0
votes
2answers
283 views

Are there any bitcoin banks (online services) and what are the benefits and pitfalls of using them? [duplicate]

Possible Duplicate: Is there a solid "Bitcoin Bank" yet? Say that I wish to control my bitcoins from a (for me) single point and I don't have the technical resources to have a single ...
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 ...
10
votes
2answers
995 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 ...

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