Barclays to become the first major bank to accept Bitcoin
11 replies, posted
[IMG]http://cdn.arstechnica.net/wp-content/uploads/sites/3/2015/09/barclays-canary-wharf-640x400.jpg[/IMG]
[QUOTE]Barclays, one of the the UK's largest banks, will begin to accept Bitcoin later this year. Unless another high street bank rushes to accept Bitcoin, Barclays is set to become the first major bank in the UK, US, and Europe to accept Bitcoin. At the time of publishing, one bitcoin (BTC) is worth about £150 or €204.
According to a report in The Sunday Times, Barclays currently has 75 staff at two of its research labs in London working on accepting Bitcoin. Like most companies and organisations that decide to accept Bitcoin, Barclays won't deal directly with the cryptocurrency—rather, the bank will work with an as-yet-unknown Bitcoin exchange. One possible candidate is Safello: a Stockholm-based Bitcoin startup that Barclays invested in earlier this year.
To begin with, the roll-out will be slow: only charities will be able to pay bitcoins into Barclays bank accounts. Presumably, if everything goes as planned, a larger swath of Barclays customers may be allowed to pay bitcoins into their accounts.[/QUOTE]
[URL="http://arstechnica.co.uk/business/2015/09/barclays-to-become-the-first-major-bank-to-accept-bitcoin/"]Source[/URL]
Isn't bitcoin already dying?
[QUOTE=Pvt. Martin;48594494]Isn't bitcoin already dying?[/QUOTE]
Even if it was, there'd be no harm in accepting it
Isn't the dollar die??
[QUOTE=std DONOR;48594550]Isn't the dollar die??[/QUOTE]
Bitcoin IS dying, due to technical issues.
[QUOTE=Pvt. Martin;48594494]Isn't bitcoin already dying?[/QUOTE]
Just like bitcoin died all those other times?
[QUOTE=Scot;48594694]Just like bitcoin died all those other times?[/QUOTE]
No I mean recently there was a thread posted on FP basically solidifying the notion that time.
[QUOTE=Pvt. Martin;48594869]No I mean recently there was a thread posted on FP basically solidifying the notion that time.[/QUOTE]
Link?
[QUOTE=itisjuly;48594558]Bitcoin IS dying, due to technical issues.[/QUOTE]
It's not dying, it's outgrowing its medium (computing power).
[QUOTE=vercas;48594939]It's not dying, it's outgrowing its medium (computing power).[/QUOTE]
Which will cause a lot of issues and cause it to die?
[QUOTE=itisjuly;48595334]Which will cause a lot of issues and cause it to die?[/QUOTE]
Worst case scenario is a general slowdown of a few nodes in the network [b]in a few years[/b].
Best case is an incentive for equipment manufacturers and chip designers to come up with stronger shit.
They've been a pretty popular payment option with that Barclays PingIt on the trader networks. Never had a chance to try it though since I'm not with Barclays.
Coinbase supports debit/credit cards with a measly 3% transaction fee. Pretty awesome for instant Bitcoins, and practically instant to get ID verified.
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