Silk Road forums
Discussion => Security => Topic started by: sausage and mash on August 23, 2012, 07:41 am
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Morning all,
I don't know if this has been raised and apologies if it has but this announcement is on the web page:
UK Banking Announcement
Last month actions by Metro bank caused serious issues for both us and our users. During an investigation by Metro, access to our account was restricted and all activity halted. After the investigation was finished, we were told that payments were now going through to the account. However before payments were resumed a technical glitch in online banking prevented us from accessing the account for an additional week. It took yet another week to catch up with the hundreds of issues caused by these problems.
Ever since, we have been speaking with industry experts and searching for other banking or payment solutions appropriate for our business. While we have not yet formalized an agreement, we are in talks with many such service providers.
At the end of this month Metro bank will discontinue our account. There will almost certainly be a period of time in which UK payments will be unavailable. We strive to provide our users with the best service possible. Unfortunately we cannot control the services which we rely upon.
Transfers in EUR can be made from our BZWBK account to UK accounts, however we cannot convert GBP to EUR for this purpose.
Bridging the gap between the conventional banking system and bitcoin is a challenging and expensive task. We have had many issues dealing with the conventional banking system; missing transfers, various crippling technical issues, accounts frozen without warning, and even accounts closed without warning. This is why we love bitcoin, it just works.
There are a limited number of UK banks which provide business banking accounts. If you are a UK journalist and would like a more comprehensive understanding of bitcoins and the implications an unofficial and unelected potential future banking blockade could lead to, please email press@intersango.com
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Hey man, thanks for posting this - weirdly I can't see the announcement on Intersango's site or find it discussed on BitcoinTalk. Where did you read it? Have they taken it down since you saw it?
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If you click the accounts tab the announcement is linked at the top of the page. I wonder if they can stay in business without the uk trade they get now?
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Hey man, thanks for posting this - weirdly I can't see the announcement on Intersango's site or find it discussed on BitcoinTalk. Where did you read it? Have they taken it down since you saw it?
Hello,
You can find the link on the page with your accounts on, log in and its announced at the top of that page.
So this is it for uk peeps wanting to get coins?
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should just have used standard chartered, those boys dont mind letting ahmedinejad move about 250bn through their books.
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guess the brits will be cashing out :(
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A dreadful mistake on the part of Metro bank IMO, they'll ultimately lose millions of pounds over this, which they can ill afford to given their current position on the food chain. Castigate the black market today, and tomorrow, truly, you shall find that every action has a consequence, as LE employees are so fond of reminding us but neglect to remember themselves.
A fair majority of the cash intake banks need for liquidity comes from the black market, sophisticated bankers have always understood that. Civilians cannot be expected to comprehend how the world really works, which is why they are so outraged when they hear of their 'clean money' mixing with 'dirty money'. Guess what dumbass! Nearly all the cash in the world comes from the black market in practice. Without the black market, the entire financial system would suffer a loss of liquidty and this would decrease economic growth. It would be immoral not to accept dirty money.
No black market means you'd be paying hundreds of dollars for each checking account you possess. No black market means the most recently financial liquidity crisis would have been prolonged longer and deeper causing higher levels of unemployment across all sectors and much more besides. That's not pine's hypothesis, it's the topic of a slew of whitepapers from economists explaining these very facts, yet it is not a new concept.
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Anyway, in my view a crackdown on the exchanges will benefit the darknet markets disproportionally so in the long run. You see the world of finance, whether bitcoin or offline, is more like an ecosystem than a system of strictly obeyed rules and procedures. An evolution towards a lack of transparency and less centralization keeps SR and Co out of mainstream attention, gives LE an excuse to concentrate on more important things like actual fucking crime in RL whilst maintaining they are doing something actively, and provides a kaleidoscope of new opportunities to obtain B$ for prospective SR customers.
So, it's all good from my perspective really, the sun is golden and it is time to make hay :)
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Hello ,
I saw that message as well, they still doing transfers until the end of the month , so get transfering lol . Any one recommend any other company ?
I do really like inersango fast transfers , good prices . Such a shame , they might find another way to complete uk transfers .
Kind regards
RP
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sell sell sell & cash up seems to be the mantra :o
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They may as well have shortened it to "Sorry, we are just useless cunts. Laters."