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You mean if the control freaks in the governments and in the EU can control one more thing they would just say "meh" and move on just because it's not real currency issued by the EU? I kind of doubt this
It is possible to exchange bitcoins for cash, yes. You can for example do an IRL exchange: https://localbitcoins.com/
Or you could exchange it for any kind of (electronic) government currency like USD, EUR, PLN, etc.
There are probably exchanges for BTC -> LR etc as well.
EU has no authority over bitcoin transactions and will never have since the bitcoins are not issued by EU.
I hope it is more clear now.
This is actually a pretty good point.
What risks specifically?
Bitcoin is not controlled by a centralized entity and as such cannot be shut down as e-gold was.
It's decentralized... nobody owns it...
Doesn't mean you can't introduce alternatives. In fact, several alternative blockchains have already been introduced, with slightly different properties. Examples are namecoin (distributed DNS system) and litecoin. These blockchains run independently from the main Bitcoin blockchain.
I am sorry, but I am not sure you actually read what that approval means.
It is valid only over what eu banking authorities have authority over.
It cannot give you approval to do something that is not under their jurisdiction, they only control the currency accounts, not the bitcoins ones, the bank can buy and sell those as any commodity or use as collateral, the same way many banks finance commodity trading. They get the commodity as collateral and can trade in their name too. This does not give the federal reserve or ECB the right to control wheat markets or look into who buys what kind of grain.
Bitcoin is starting to sound appealing but I look at the one provider with a whmcs plugin bitpay and there website makes me not trust them. looks like something my mom threw together.
I wouldn't say that the website of one provider that happens to use a certain payment processor that happens to process a certain currency, is a representative metric for the currency or payment processor itself.
EDIT: Or were you refering to Bitpay itself with "provider"? Your sentences are a bit confusing without much punctuation.
Bitpay<-site looks like dog poo.
Found bitwallet looks like a better site still doesn't look trustworthy.
Looking to see if there are any others out there.
Found bitwallet looks like a better site still doesn't look trustworthy.
Looking to see if there are any others out there.
Right. But even here, I'm unsure how visual appearance of the site in any way represents quality of service or reliability. They are used pretty commonly as far as I know, and I haven't heard any complaints.
yeah sorry the other was walletbit. I guess you don't ever look at a website and go ummmm not shopping there, cause you just don't trust the looks? @joepie91
No, I don't. I typically look at experiences of existing users, and if there's not enough information available about them, I just try something out with something small that I can afford to lose.
So far, I haven't been burned by this method.
So what, what are the terms, do you agree or not, who gives a flying f*ck what a site looks like, it is just info to process. I accept BitPay, my site gets mixed reviews, but guess what, I know I run a trusted service, so your point you are trying to make is not very valid.
@miTgiB and which gateway do you use?
What do you mean, as I already said I accept BitPay, which is nothing more than a gateway and exchange.
so you don't use a processor? like bitpay?
I'm not following you, I use the WHMCS addon BitPay created to accept bitcoins, and BitPay exchanges the bitcoins for local currency for 2.69% or something like that, and direct deposits those funds to my bank account daily as long as $20 or more is to be transferred.
That is what i was asking Tim.