Last month, Sweden’s largest precious metal dealer posted a notice that their bank account had been closed without their consent.
Tavex Guld & Valuta posted a notice on June 30th that their bank account had been unilaterally closed. This left the dealer without an efficient way of accepting payments for good, racing to establish a new payment system.
A notice screenshotted from the Tavex website read as follows:
At time of writing, the notice appears to be gone.
Bitcoin can’t be revoked or shut down
As opposed to banking systems, Bitcoin does not run the risk of being shut down. Over 6 million account applications were denied by UK banks over the past two years, while US citizens increasingly fear online shopping and other internet activity over privacy concerns. Meanwhile, with demand for tax havens growing, Bitcoin conveniently solves all of the above problems.
Recently, Uber had the same issue in Argentina Tavex experienced in Sweden, with the use of credit cards for payments being unilaterally denied. Thankfully, Uber switched to Xapo Bitcoin debit cards, saving the company from having to shut down Argentine operations.
bitcoin does solve some problems, but bitcoin has some problems of it's own.
bitshares is also one to look into.
i may be remembering this wrong it was some time ago.
it may of been in a beyondbitcoin episode were dan talked about gold and silver dealers could accept bitgold and bitsliver.
and exchange 1oz of bitgold for physical gold, and 1oz of physical gold for 1oz bitgold.
has 1oz of bitgold is pegged to the market price feeds of 1oz of gold.
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