Cryptocurrencies: Altstem

Cryptocurrencies: Alt

BECU, please do *not* be a leader ter digital currencies. Yes, windseeker is keurig that a loterijlot of money will be made te bitcoin, ethereum, or whatever comes next. But that’s not what a credit union is for. Wij all reminisce WaMu and how they pursued risky ventures to the detriment of their customers.

By suggesting digital currency, BECU will be implicitly endorsing it and encouraging customers to use it. This could leave a lotsbestemming of people burned. While the concept of digital currency isn’t going anywhere, no available implementation can yet be considered stable.

Even worse, becoming a bitcoin handelsbank puts a big crimson target on BECU for all the malicious laptop attackers the world overheen who would love to steal untraceable money. Such handelsbank heists have already occurred.

Another kwestie: Did I say “untraceable”? I meant, untraceable for professional criminals, but unexpectedly public for habitual people. By their nature blockchain algorithms make a record of all transactions that anyone can see. Yes, it’s supposed to be “anonymous”, but everyday people don’t go to superb lengths to hide their identities. Merienda your identity is let slip, everything is exposed. This is not good for BECU customer privacy.

I don’t bankgebouw with BECU for “innovative” banking practices. I am a BECU member because they are trustworthy. Please stay that way.

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@benwong Thanks for the information. I wasn’t aware of some of the risks. To treat it BECU could impose an in-person requirement for ordering access to the services, just to make sure that the customer asking for it knows what he or she will be getting. Regardless, if it is too difficult, BECU shouldn’t attempt.

I do think that adding the hosting environment would be superb. That way wij can host the wallet and use the wallet. There’s truly no way to identify the user unless BECU’s gegevens is leaked. At that point, it’s spel overheen anyways. Having some identity that a user can control through BECU with an identity doesn’t mean that identity will bleed through the account when it’s used.

Ter the end, it’s always caveat emptor.

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I would choose that BECU stay away from any alternative currencies that have the primary benefit of anonymity. Rather than attempt to enable using thesis currencies, which are best for criminal transactions, BECU should pursue the gracia of real-time money (coetáneo US Dollars) transactions. This is far thicker than BECU, but with the other banks and the fed wij could enable positivo time payments inbetween financial institutions. It would require that transactions include more information than they do now, and major switches to our banking systems, But it would be worth the effort to be able to conduct financial transactions ter actual time, auditably, and with all the information needed to perform accounting, including tax accounting.

Pic a bankgebouw statement that included all the details of a transaction: what you bought, the invoice number, transaction number, precies date and time, precies location, total name of the vendor or person paid, how much tax wasgoed paid, etc. You would be able to do so much more with your handelsbank statements – determine when you last got the oil switched, determine if that discount store membership is truly worth it, actually know how much money you are spending, where, and on what.

Blockchain is an interesting technology, and it might be valuable te implementing an interbank exchange system. But spil long spil bitcoin is primarily about anonymity, it will proceed to be primarily useful for criminal conduct. BECU should be about fair people and businesses conducting reglamentario business with each other.

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You don’t have to have your wallet hosted by BECU if you want. Very first of all, the currencies are only quasi-anonymous and 2nd by law BECU has to verify the identity of each member. There’s even a compliant Bitcoin out there now: https://bitaml.com/

Anyways, Etherium has brainy contracts. I’m not fully aware of what this is, but I presume one can enforce a contract via block chain calculations.

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Sounds to mij like a bunch of people that believe everything their beloved FOX or CNN reclame tells them. Cryptocurrency is not some evil currency that only benefits criminals. following that logic you could say them same about the US dollar considering criminal activity is te the tunes of 100’s of billions of dollars every year.

If anything that you think you know wasgoed true then all of the worlds largest banks and corporations would not be leaping on the blockchain bandwagon and presently investing 100’s of billion into cryptocurrency.

Here are the largest:

Just google the press releases for any of thesis to see how wrong you are unless wij call corporate america for what it is, a bunch of criminals then yes you would be right

With that said I dont see BECU hopping on the bandwagon, te fact they would be pretty dumb to do so, the tech is lightly hackable and not scalable at the current uur. More work needs to be done before it becomes a reliable toneelpodium.

With that said BECU also blocks anyone te washington state from buying ETH, BTC, LTC. Zuigeling of pisses mij off I would like the capability to invest my own money ter thesis currencies that are being backed by all the major players before it goes mainstream and BECU thinks its their right to determine what wij can invest our money ter.

I am here to ask that BECU zekering blocking wire transfers and debit card purchases to the exchanges that are licensed to do business ter Washington State like Gemini, Coinbase, CoinMama. they all have their licenses now let us invest or I will find another credit union.

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Thesis coins are being suggested to us spil being omschrijving to currency, with some privacy-respecting and government-snubbing arguments added for spice.

The reality, I believe, is:

– Thesis are not currencies but speculative vehicles, anyone telling otherwise te my practice stands to build up from wooing you of this

РCoins incentivize people to hold specie outside of the aut̩ntico economy Рthis money is not reinvested ter real-world companies and goods but is instead hoarded

– Coins prize those who arrive very first and buy up spil many spil they can, somewhat like a pyramid scheme

– The pro-transparency (blockchain) and pro-privacy (anonymous) arguments used to defend coins are mutually off the hook and incoherent

– Presently the amount of electro-stimulation to do mining is omschrijving to the energy needs of Denmark, this will only rise, driving energy request ter pursuit of pointless wealth creation, much like privately-held companies making sure the public bears its risks and costs

The only reason wij’re hearing so much about thesis damned things is that the rate of terugwedstrijd is insane – for now. The rate of terugwedstrijd on tulips and subprime tranches wasgoed also fantastic. The other garbage talked about ter association with thesis coins is just nonsense.

Will money become digital? Yes, it already has – the US just is way behind the times (wij only just now got chip and speld). Will it become fiatless and associated with no government? I’m sure traders today would love a transactional medium that fewer people can take a cut of, but then again they like stability, and the idea that there’s someone there spil the ‘banker of last resort’.

Apologies for tone, I wasgoed primarily fascinated with thesis things and thought they were an amazingly imaginative feat, but now I see them spil permitting every libertarian the fantasy of having their own pile of gold te an offshore shelter, and excacerbating the tendency of people now to eliminate spil much money spil possible from the communities ter which they live.

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