Coinbase abandons Bitcoin principles, bans accounts it doesn’t like

Bitcoin is an open ecosystem, and open protocol, meant to free people and their money.

Coinbase, the largest Bitcoin exchange, just gave Bitcoin's openness a giant middle finger by banning Gab, the free speech social network, from their platform.

Bitcoin is supposed to be anti-censorship. But it can't be that if the on-ramps into Bitcoin are controlled by biased gatekeepers who ban people they don't like.

And worse yet, they're setting a precedent that other bitcoin businesses may follow. How long until you get banned?

If you agree this is a dangerous precedent to set, contact @coinbase on Twitter and let them know won't be using them unless they reinstate Gab's account.

Source:

https://gab.ai/a/posts/27539385

submitted by /u/Ginger322
[link] [comments]
Bitcoin – The Currency of the Internet

Total banking outage at National Australia Bank (NAB) – no ATMs, online banking, nothing. NAB has closed accounts of Bitcoin related customers since 2014. Centralized banking doesn’t work, payback’s a bitch.

Total banking outage at National Australia Bank (NAB) - no ATMs, online banking, nothing. NAB has closed accounts of Bitcoin related customers since 2014. Centralized banking doesn’t work, payback’s a bitch. submitted by /u/junglehypothesis
[link] [comments]

Bitcoin – The Currency of the Internet

Israeli Bitcoin Company Sues Banks for Not Letting it Open Accounts (news.bitcoin.com)

An Israeli company that was created in January has gotten its business rejected by all banks in the country, and is now suing them. Without a bank account, an Israeli exchange would not be able to legally receive fiat transfers from clients, effectively preventing it from starting operations.
Also Read: Israel Tax Authority:

Bitcoin

There are 2.5 billion people in the world who don’t have bank accounts or aren’t allowed to.

I often see this statistic used in favour of Bitcoin – for obvious reasons. But about 50% (~3.6 billion) are without internet access.

With that in mind, is the bank statistic actually a legitimate point in favour of Bitcoin? Until internet access is more universal, it could be said that Bitcoin is another thing that only benefits the wealthy and developed world.

submitted by /u/just_read_my_comment
[link] [comments]
Bitcoin – The Currency of the Internet

Vouching Bitfinex and Tether’s Bank Accounts Hold Nearly $3 Billion USD (news.bitcoin.com)

Zhao Dong, a prominent Chinese early bitcoin adopter and shareholder in Bitfinex, recently posted on Weibo seeking to provide anecdotal evidence as to the integrity of Bitfinex and Tether’s financial reserves. The post claims that Zhao Dong and Lao Mao, the chief executive of Big.one, have witnessed first hand the balances of Bitfinex and Tether’s respective bank accounts during a meeting with Bitfinex’s chief financial officer, Giancarlo Devasini. The post alleges that the combined

Bitcoin

South Korea Allows Cryptocurrency Trading for Real-Name Registered Accounts (bitcoinmagazine.com)

Six Korean banks will begin allowing the simultaneous opening of accounts, deposits and withdrawals, as well as transfers of funds between these accounts and exchanges, beginning on January 30, 2018, but with some new restrictions.South Korea’s government continues its efforts to rein in the trading of virtual…

Bitcoin