Hacker News new | ask | show | jobs
by ok_craig 4490 days ago
They're all "USD soon" but none of them actually have it. The real race is to getting that available. Til then none of them will really take off, since you can't really trade between USD and bitcoin if you can't deposit or withdraw the USD.
2 comments

It leads me to believe the government might be convincing banks not to do business with bitcoin.

Note how campbx's bank yanked their account.

Others are having a lot of difficulty getting a bank to work with them.

Free market says some bank should have stepped up by now unless maybe there are outside influences stopping them.

Risk, banks don't want to deal with it since a tsunami of fraudulent wires will be heading their way because scammers can turn their botnet obtained bank logins to untraceable bitcoins. That and all sorts of black PR on cryptocurrencies they don't want extra work for their compliance officers. Offshore banks don't seem to mind but it will cost hefty transfer fees
Do you think banks really need convincing not to business with bitcoin?
You can get USD in and out of CampBX. You just have to do it with money orders. (Which is nearly as fast as ACH, though much less convenient.)
I wouldn't expect CampBX to survive a lot longer. Without a banking partner they're fighting a very steep battle. Their volume has always been tiny tiny tiny even in the best of times.