Post
Topic
Board Exchanges
Re: Bitcoin-Central, first exchange licensed to operate as a bank. This is HUGE
by
MoonShadow
on 06/12/2012, 21:11:42 UTC
I give it two months before there are real problems between Paysius and their fiat banking partners.  It won't be their fault, of course, but this will not last.
You confuse Paysius with Paymium.
Sorry about that.
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Also quoted, let's check back in two months.

I'd love to be proven wrong.
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I don't really see why this would fail, there's business to be made by everyone, re-read all that has been posted about the MACARAJA v. CIC case. The judges had absolutely no problem with Bitcoin, they had a problem with Karpeles arguing that he did not need any license to do what he did.

We did our homework, you can never control everything, but we did what we had to.
I believe that you have done your homework, and I believe that it's perfectly legal.  However, I also am aware that there are vested interests for which any advancement for Bitcoin is a threat.  I am also aware that some of these vested interests really don't care whether or not Bitcoin is or should be legal.  Pressure will be imposed upon your trading partners to abandon you, for whatever excuse that they can conjure up.  Ultimately they will all conclude that the business that they stand to gain from working with you is far outweighed by the business that they stand to lose from other sectors.  Paypal is much larger than the whole Bitcoin economy, but they were strong armed to not permit users from places in the world for which the US federal government lacks influence.  There is no gain for Paypal to exclude potential markets, either; but that is what has happened.  You have just become a single point of failure for the Bitcoin economy in Europe, and aspects of your life are about to turn crazy and beyond your own control.  I will add you and your family to our prayer list, because that is the extent for which I can do anything.  I would caution you to retain a good lawyer, if you have not already, and set up a bitcoin address for legal donations, should things really start to spiral.