Post
Topic
Board Bitcoin Discussion
Re: So what do you think the Western union story today will really mean for bitcoin?
by
dissipate
on 03/04/2013, 05:50:56 UTC
I've seen it posted around here but I think this is more of an optimistic hint than anything genuine so I wouldn't pay it too much attention. It could be a good thing but considering that Western Union is an established and long lived bank I don't know if it would be because the paranoid anarchist in me tells me they'd almost certainly try and find a way to spy on your transactions, not that they could in Bitcoin but certainly if you were to transfer paper money to them, I expect if they did ever do it there would be all sorts of restrictions and verification processes they'd force you to go through before you could move any money.

Huh? Western Union complies with KYC and AML laws, so they are already spying on your transactions. Western Union is not going to be an anonymous Bitcoin exchange, but neither is MtGox or any of the other online Bitcoin exchanges (except for small sums of money).