Quote from: niothor on March 05, 2014, 07:52:38 PM

Quote from: traderman on March 05, 2014, 07:38:02 PM

I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.

Without banks , bitcoin wouldn't have reached 1000$.
90% of the trading is done with money sent via banking systems.

And don't fool yourself , even with fiat money gone , banks will still be there.

As much as people say it, banks will never become obsolete. As much as I love Bitcoin I think the belief that crypto can replace all fiat is far fetched. They are a necessary evil. As to there motivations behind closing bitcoin related accounts? Possible that they do not understand it, or feel that Bitcoin can reduce their profits.

Either way, it is pretty disappointing. I myself have been trying to set up a Bitcoin related business and have been looking to which bank to use.