August 2013 – Krypto Infos (seit 2011)

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds submitted by scrottie to bitcoin_uncensored [link] [comments]

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds submitted by scrottie to Bitcoin [link] [comments]

Since IAFCU bank stopped supporting Bitcoin, what are vendors like Amagi Metals using?

There was a post earlier this year about Amagi Metals losing their bank account at BotW and IAFCU bank came to the rescue.
http://www.reddit.com/Bitcoin/comments/1inixa/bank_of_the_west_is_shutting_down_our_bank/
But since then IAFCU has come under fire:
http://www.cutimes.com/2013/09/03/internet-archive-fcu-says-no-to-bitcoin
So I'm curious what vendors like Amagi and others who were using IAFCU after getting bounced, are now using?
This thread seems to focus on which banks are hostile:
https://bitcointalk.org/index.php?topic=264679.0;all
Is there a good source of bitcoin friendly banks? What are the larger vendors using?
submitted by betterfretter to Bitcoin [link] [comments]

Tradehill halts bitcoin trading due to IAFCU “operational and regulatory issues”

Tradehill halts bitcoin trading due to IAFCU “operational and regulatory issues” submitted by bitkeef to Bitcoin [link] [comments]

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds

IAFCU punished by regulators for being Bitcoin friendly, spending three times as much time serving regulators as customers, folds submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Great news! Bitfloor USD withdrawals now open.

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:
We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number.
=== === ===
Update July 6, 12:56 PM Pacific: I'm already getting emails and seeing responses here about various login/withdrawal/balance-related issues. I imagine it may take a few days for all the ins and outs of the refund process to become clear to all of us. If you are experiencing USD withdrawal-related issues (such as $0 balance showing up on your account when you know you had a positive balance) that are not resolved by 7/12, please send me a PM or email and I will start tracking those issues and reporting them to those on the update email list. If you would like to be added to that list, PM me your email address.
Update July 6, 12:59 PM Pacific: sodoubleoggood reports that Bitfloor has removed all pending withdrawals, so for users who were seeing $0 balances due to pending withdrawals, check your account again to see if that's cleared up.
Update July 7, 10:36 PM Pacific: I have been receiving numerous reports of bugs and account access issues from users who are trying to submit their withdrawal requests. I am keeping track of these comments, but because Bitfloor just announced the refund process yesterday, I am asking everyone to give Bitfloor one more week (until 7/12) to start working through their backlog of customer support emails. If by the end of next week there does not appear to be progress, I will create a "master list" of issues reported to me and will use the email update list to communicate progress on those issues.
Update July 10, 2:18 PM Pacific: Understandably, a lot of people want to know when they're going to get their refunds now that they've submitted ID info to Bitfloor or IAFCU. I don't have any information from Bitfloor or IAFCU suggesting a specific timeline, but here are my thoughts on the matter.
Those in the < $3,000 camp will be wondering about the timeline for verification of docs uploaded via Bitfloor. In the last few days before the exchange shut down, document verifications were taking 5-10 business days, so I could imagine the process taking the same amount of time now (and maybe longer since hundreds of customers are re-submitting their documents all at the same time). I don't believe Bitfloor has a large staff doing this manual processing the way that MtGox does, so I don't expect Bitfloor can get through thousands of verifications a day like they do.
Likewise, people in the IAFCU camp may need to wait several days for a phone call. IAFCU is a very small credit union (and it may in fact be Jordan alone doing all account verifications), and if my spreadsheet represents, say, half of all Bitfloor users, IAFCU may have already received a couple hundred new applications in the last few days, each of which requires a telephone confirmation step (and possibly even a confirmation of a donation sent to a local charity). So I won't be surprised if it takes a few more days for IAFCU applications to get processed.
I know it's frustrating that it's taking so long. But I still think our best bet continues to be patience.
Update July 10, 10:42 PM Pacific: SpottedMarley from bitcointalk.org posted this message indicating that he has spoken to a person at IAFCU who is working on processing the new account applications. He includes a lot of interesting details.
=== === ===
Here's what's currently appearing after I log in to my Bitfloor account.
[Right-hand sidebar showing my BTC and USD balance]
[Left-hand content area with the following instructions:]
USD Refunds
In order to receive your USD refund, please read and follow the instructions below.
If your USD balance is 3000 USD or more, you must first open an account with IAFCU and provide your IAFCU account information and NOT your current bank account information.
Everyone is required to provide the following information:
The cost for processing a refund (set by IAFCU) is 2.50 USD which will be deducted from your account balance. If your balance is below 2.50 USD we cannot process your refund at this time.
International Users should fill out the information below and use a SWIFT code in place of a routing number.
Copy of Government ID
The photo must be clear, cropped to the dimensions of the scanned document, and upright.
[UPLOAD BUTTON]
=== === ===
Here's the email response I received from Internet Credit Union after I submitted my account application:
Dear AudenX,
Ok so you have submitted your application for a new Account- If I were you I would saying: Now What?
First Step
The next business day a real person in the good ole US of A will review what you sent and perhaps wonder why you forgot some information we really need.
Second Step
This real person (maybe even me) will call and verify you are really you. So please pick up the phone or at least call us back.
When we call, answer the phone as three things will happen:
  1. We are required to “Know our customers”. This means that personal touch of actually speaking with you and verifying some of the information on your application.
  2. We will give your account number . If you want a really cool account number you can request one by donating either dollars or bitcoins. Hey we are a not for profit and need to keep fees down for everyone. Accounts numbers from 100-9,999 can be gotten by helping support us. The lower or more special the number the higher the donation.
  3. We will ask you if you want to set up A2A transfer from another financial institution. Then you can transfer money from one those big banks that helped bring down the economy just a few years ago to us little but good guys that care about your financial well being.
Third Step – Sign onto online banking:
READ THIS, perhaps even print it and put on your frig next to those fruit or poetry word magnets, and it will save us both lots puzzled states at a screen:
Log on now the day we call you and we mean today:
You need to log on with 24 hours of us creating your account and contacting you otherwise we will have to reset your PW. And why take up your time on long call with us when you could be out there saving the world.
How do I log on?:
We encourage people to jump from our home page: IAFCU.ORG. Also then you can read my old and new blogs and make my dad happy.
What do I do if its my first time?:
Mainly answer the phone! Part of being with a Credit Union is that we like to get to know our members and we will personally call you and walk you through how to get on and navigate online banking.
Name that Account:
Once on you may want to go to Nick Names Under XXX and change the names of your accounts. Primary Share is called a Savings Account in the banking world and Share Draft is checking account. Yup we can help you with that.
THANKS FOR JOINING AND BECOMING AN OWNER OF THE CREDIT UNION
Jordan Modell
=== === ===
df546rtghr65y4 asked an important question:
So how is it that the IAFCU is able to issue accounts to people outside NJ?
Very good question.
This may seem weird to some customers who are new to credit unions (Wikipedia article), but if you've never used a credit union before, one of the first things to know is that their charters require them to have a well-defined "field of membership" that limits who is able to become a member. In the case of IAFCU, the field of membership is those who live or worship in New Brunswick, NJ. However, IAFCU can satisfy the field of membership requirement for those outside New Brunswick if they make a small donation to a New Brunswick-based nonprofit.
So for those who (like me) are opening an IAFCU account but reside outside of New Brunswick, here's the info you're going to receive from IAFCU when they call you (from an email exchange I had with Jordan):
Please note that if you live outside New Brunswick NJ the only other requirement is donate $5 (usually we ask $10 but understand circumstances) to a local charity. There are four who are bitcoin friendly and worthy the one we deal with the most is Elijah's Promise they are a soup kitchen-food pantry and a lot more. They have no relation to us and it is tax deductible. We can tell you about the others when we call you.
Although this might seem like a hassle to some, presumably everyone who is opening a new account with IAFCU has over $3,000 to recover from Bitfloor, and the $2.50 processing fee + $5 donation is hardly a loss compared to what we were fearing might happen (e.g. 25-50% loss through a class-action lawsuit).
=== UPDATE EMAIL LOG ===
17-July-2013: http://audenx.tumblr.com/post/55752420994
13-July-2013: http://audenx.tumblr.com/post/55752222447
10-July-2013: http://audenx.tumblr.com/post/55154517024
06-July-2013: http://audenx.tumblr.com/post/54770637002 <-- Great news
05-July-2013: http://audenx.tumblr.com/post/54707157530
02-July-2013: http://audenx.tumblr.com/post/54479938119
26-June-2013: http://audenx.tumblr.com/post/53970438791
21-June-2013: http://audenx.tumblr.com/post/53568535359
17-June-2013: http://audenx.tumblr.com/post/53234614015
13-June-2013: http://audenx.tumblr.com/post/52878432522
10-June-2013: http://audenx.tumblr.com/post/52640707656 <-- Good news
07-June-2013: http://audenx.tumblr.com/post/52414956398
05-June-2013: http://audenx.tumblr.com/post/52251841162
01-June-2013: http://audenx.tumblr.com/post/51902492890
30-May-2013: http://audenx.tumblr.com/post/51761248589
27-May-2013: http://audenx.tumblr.com/post/51584420452
22-May-2013: http://audenx.tumblr.com/post/51488743664
20-May-2013: http://audenx.tumblr.com/post/50956376471
15-May-2013: http://audenx.tumblr.com/post/50952729836
13-May-2013: http://audenx.tumblr.com/post/50547278257
10-May-2013: http://audenx.tumblr.com/post/50363516504
08-May-2013: http://audenx.tumblr.com/post/50363321012
06-May-2013: http://audenx.tumblr.com/post/49875576808
AudenX unofficial USD balance owed tally as of Saturday, 06-July-2013: 270 respondents. $791,000.
USD balance reported by IAFCU via SpottedMarley on Wednesday, 10-July-2013: over $2.8M
submitted by audenx to Bitcoin [link] [comments]

At long last, my Bitfloor USD refund has appeared in my IAFCU account!

Another Bitfloored user posted that he'd received his refund today. I logged in to my IAFCU account, and — lo and behold! — my refund has posted, too.
Edit: For everyone feeling grateful, let's help Internet Archive Federal Credit Union cover their costs of helping Bitfloor users recover their USD funds.
submitted by audenx to Bitcoin [link] [comments]

Let's help Internet Archive Federal Credit Union cover their costs of helping Bitfloor users recover their USD funds.

Update 2:31 PM PDT 26-July-2013: $1,750-worth of USD and BTC donations to the Internet Archive reported to me so far
Many of you have suggested that I post a BTC address where you can send me thank-you tips after you receive your Bitfloor refunds. For those of you who were thinking of doing this, I would really appreciate it if you showed your gratitude by tipping IAFCU. Please read on for details of how to do this.
(If you already tipped me on reddit or elsewhere — thanks! I'll be forwarding your tip on to IAFCU.)
When I spoke to Jordan Modell recently, I learned that IAFCU incurred a lot of expenses (legal, software, and personnel) beyond what they were expecting as they worked to set up Bitfloor users' new accounts and process refunds. They will continue to incur expenses as Bitfloor users start transferring their money to other financial institutions.
I asked Jordan if he could provide me a rough breakdown of the expenses they've incurred so far. He checked his records and emailed me the following:
Because IAFCU is a small non-profit, these expenses are significant for them. I'd really love to see them at least break even for all the help they've given us (and hopefully even better than break even).
I am hoping we can raise $15,000 for IAFCU from within the Bitcoin community as a show of goodwill. I spoke to Jordan about whether they can receive donations, and he said that they can. The best way to do it is by making a contribution to the Internet Archive.
Here's what I'm proposing we do to make the fundraiser a bit public:
And thanks!
— AudenX
submitted by audenx to Bitcoin [link] [comments]

I think Bitfloor just reimbursed me

I had $112.50 on Bitfloor back when they were shut down. I kind of forgot they owed me money, but today I saw on my online bank account that there was a deposit for $107.50. I found it kind of strange, but soon realized it was exactly $5 less than what I was owed from Bitfloor. Anyway, on Bitfloor.com there's no new blog posting and my account still says I have $112.50 on it, but I think this it.
submitted by Cobryis to Bitcoin [link] [comments]

Bank of the West is shutting down our bank account because we accept bitcoins.

Hello bitcoin community,
Amagi Metals would like to reach out to the bitcoin community for your help and support.
We have worked with BotW since 2011. In the last month they began requesting information about our business and claiming that we were a Money Service Business (MSB). However we only accept bitcoins as a payment method, we do not sell bitcoins, nor do we exchange or "deal" bitcoins. In addition we are compliant with AML/KYC and other regulations.
Today we heard back from the bank that they are closing down our account and that we can no longer use BotW after mid-August. They think that we are a "risk" because we accept bitcoins as a payment method.
So, we need your help! Can anyone suggest a bitcoin friendly bank located in the United States so that we may continue doing business after mid-August?
Please note that we plan on continuing business as usual and this will not affect our current business operations. Thank you for all your help and support!
-The Amagi Metals Team
Update Wells Fargo will not allow us to open an account. They said that even "holding" virtual currency as a business will prevent you from opening an account with them.
Update We have secured additional bank accounts at a few other banks. One of them includes IAFCU, the one that everyone was recommending. Thanks for the recommendations from the BTC community!!!
submitted by amagimetals to Bitcoin [link] [comments]

I have PM'ed 15 other redditors with Bitfloor accounts as a starting point for legal action, if needed, to recover USD funds. The total owed to the 9 who so far have stated their USD account balances is over $83,000.

I'm sure there are more of you out there. If you would like to be added to this email list, please PM me.
AudenX unofficial USD balance owed tally as of Saturday, 06-July-2013: 270 respondents. $791,000.
USD balance reported by IAFCU via SpottedMarley on Wednesday, 10-July-2013: over $2.8M
=== Edit: Monday, 6-May-2013 ===
Arstechnica piece quotes Bitcoin legal counsel John Snyder as follows:
Through counsel, Bitfloor is in active dialogue with its bank and is taking all reasonable steps to facilitate the return of funds, consistent with Bitfloor's legal obligations.
Bitfloor regrets this delay, thanks its customers for their patience to date, and appeals to its customers to continue to be patient as Bitfloor works diligently to resolve this situation.
and
The bank has not told us why it has delayed making available Bitfloor's U.S. dollar funds, but we are hopeful that this issue will be resolved soon. Bitfloor has sufficient U.S. dollar funds in its accounts to cover all of its customers' U.S. dollar credits on account.
=== Edit: Thursday, 30-May-2013 ===
I have been sending email updates over the past three weeks regarding new developments as I learn of them. If you would like to receive these updates, PM me your email address. If you would like your balance added to the tally, please email me your approximate USD balance, too.
=== UPDATE EMAILS ===
Check this thread for most recent information
10-July-2013: http://audenx.tumblr.com/post/55154517024
06-July-2013: http://audenx.tumblr.com/post/54770637002 <-- Great news
05-July-2013: http://audenx.tumblr.com/post/54707157530
02-July-2013: http://audenx.tumblr.com/post/54479938119
26-June-2013: http://audenx.tumblr.com/post/53970438791
21-June-2013: http://audenx.tumblr.com/post/53568535359
17-June-2013: http://audenx.tumblr.com/post/53234614015
13-June-2013: http://audenx.tumblr.com/post/52878432522
10-June-2013: http://audenx.tumblr.com/post/52640707656 <-- Good news
07-June-2013: http://audenx.tumblr.com/post/52414956398
05-June-2013: http://audenx.tumblr.com/post/52251841162
01-June-2013: http://audenx.tumblr.com/post/51902492890
30-May-2013: http://audenx.tumblr.com/post/51761248589
27-May-2013: http://audenx.tumblr.com/post/51584420452
22-May-2013: http://audenx.tumblr.com/post/51488743664
20-May-2013: http://audenx.tumblr.com/post/50956376471
15-May-2013: http://audenx.tumblr.com/post/50952729836
13-May-2013: http://audenx.tumblr.com/post/50547278257
10-May-2013: http://audenx.tumblr.com/post/50363516504
08-May-2013: http://audenx.tumblr.com/post/50363321012
06-May-2013: http://audenx.tumblr.com/post/49875576808
submitted by audenx to Bitcoin [link] [comments]

Bitcoin friendly banks in the US?

I remember reading a while ago that banks were freezing accounts/funds that were linked to coinbase and other btc exchanges.
What banks from your experiences are most btc friendly? Maybe we could update the info in this thread from a year ago.
submitted by jn02c00l to Bitcoin [link] [comments]

Unhappy about your bank's service? With bit'coin, you can be your own failed bank

Unhappy about your bank's service? With bit'coin, you can be your own failed bank submitted by jstolfi to Buttcoin [link] [comments]

Bitfloor users awaiting USD refunds: please share your progress in the week since refund instructions were announced.

Update 25-July-2013: My full refund (over $3,000) posted to my IAFCU account today. Other users have reported seeing their refunds, too.
This is a continuation of this thread from one week ago.
Status updates from people receiving refunds have moved to this thread
I have received emails from many Bitfloor users about their experience so far getting their USD refund started. Some users have submitted ID and bank account info to Bitfloor successfully and are awaiting further communication from Bitfloor about refund status. Other people have had to open new accounts with IAFCU and are awaiting (or received) an IAFCU account number to plug into the form on Bitfloor. Others are having problems that will ultimately require some response from [email protected] (2-factor authentication problems, form errors after submitting SWIFT numbers, accidentally entering the wrong routing/account information, etc.).
What's been your experience so far? Have you had success? Are you having problems? Have you received a refund yet?
If you had a problem previously that has since been resolved, please post that information as well, since it may help other users.
If you are not on the update email and would like to be, please PM me.
=== UPDATE EMAIL LOG ===
03-August-2013: http://audenx.tumblr.com/post/57273791722
26-July-2013: http://audenx.tumblr.com/post/56531148533 <-- Please consider supporting the IAFCU!
25-July-2013: http://audenx.tumblr.com/post/56478617818 <-- First users begin receiving USD refunds
25-July-2013: http://audenx.tumblr.com/post/56433460142
17-July-2013: http://audenx.tumblr.com/post/55752420994
13-July-2013: http://audenx.tumblr.com/post/55752222447
10-July-2013: http://audenx.tumblr.com/post/55154517024
06-July-2013: http://audenx.tumblr.com/post/54770637002 <-- Great news
05-July-2013: http://audenx.tumblr.com/post/54707157530
02-July-2013: http://audenx.tumblr.com/post/54479938119
26-June-2013: http://audenx.tumblr.com/post/53970438791
21-June-2013: http://audenx.tumblr.com/post/53568535359
17-June-2013: http://audenx.tumblr.com/post/53234614015
13-June-2013: http://audenx.tumblr.com/post/52878432522
10-June-2013: http://audenx.tumblr.com/post/52640707656 <-- Good news
07-June-2013: http://audenx.tumblr.com/post/52414956398
05-June-2013: http://audenx.tumblr.com/post/52251841162
01-June-2013: http://audenx.tumblr.com/post/51902492890
30-May-2013: http://audenx.tumblr.com/post/51761248589
27-May-2013: http://audenx.tumblr.com/post/51584420452
22-May-2013: http://audenx.tumblr.com/post/51488743664
20-May-2013: http://audenx.tumblr.com/post/50956376471
15-May-2013: http://audenx.tumblr.com/post/50952729836
13-May-2013: http://audenx.tumblr.com/post/50547278257
10-May-2013: http://audenx.tumblr.com/post/50363516504
08-May-2013: http://audenx.tumblr.com/post/50363321012
06-May-2013: http://audenx.tumblr.com/post/49875576808
AudenX unofficial USD balance owed tally as of Saturday, 06-July-2013: 270 respondents. $791,000.
USD balance reported by IAFCU via SpottedMarley on Wednesday, 10-July-2013: over $2.8M
submitted by audenx to Bitcoin [link] [comments]

Good news at last! Bitfloor update for 10-June-2013.

I spoke today with Jordan Modell from Internet Credit Union. He was able to confirm that Roman has been in touch with ICU for a few weeks and has been working with them to set up a way to return USD funds to customers. Here are the key points:
  1. After conferring with their counsel, ICU confirmed that they can legally open an account for Bitfloor. They have done so. Bitfloor's account with ICU is now open.
  2. ICU and Bitfloor are setting up ACH transfer capabilities for the account. Jordan should be able to confirm by Friday this week whether ACH into and ACH out of the account is set up and working.
  3. The main delay at this point is that ICU has to wait to hear back from their counsel whether they need to follow "Know Your Customer" guidelines for each of Bitfloor's depositors. Jordan said it might take as long as until the end of next week (6/21) to hear back from their counsel on this issue.
To elaborate on point #3: Even though Roman knows who most of us are (because anyone who requested ACH verification from Bitfloor already submitted photo ID), ICU is trying to find out if they need to separately request and review identity verification information for all of us, too. Ideally, ICU would like to avoid collecting this information about Bitfloor's customers, if that's legal. However, if their counsel advises them to collect this information, it shouldn't amount to much more than some additional paperwork or a brief phone call for each of us — not too much of a hassle, in my opinion, given how long we have waited already for refunds.
Overall, Jordan sounds very motivated to help with this situation. He asked me to follow up with him later this week so he could give me an update.
=== UPDATE EMAIL LOG ===
Check this thread for most recent information
10-July-2013: http://audenx.tumblr.com/post/55154517024
06-July-2013: http://audenx.tumblr.com/post/54770637002 <-- Great news
05-July-2013: http://audenx.tumblr.com/post/54707157530
02-July-2013: http://audenx.tumblr.com/post/54479938119
26-June-2013: http://audenx.tumblr.com/post/53970438791
21-June-2013: http://audenx.tumblr.com/post/53568535359
17-June-2013: http://audenx.tumblr.com/post/53234614015
13-June-2013: http://audenx.tumblr.com/post/52878432522
10-June-2013: http://audenx.tumblr.com/post/52640707656 <-- Good news
07-June-2013: http://audenx.tumblr.com/post/52414956398
05-June-2013: http://audenx.tumblr.com/post/52251841162
01-June-2013: http://audenx.tumblr.com/post/51902492890
30-May-2013: http://audenx.tumblr.com/post/51761248589
27-May-2013: http://audenx.tumblr.com/post/51584420452
22-May-2013: http://audenx.tumblr.com/post/51488743664
20-May-2013: http://audenx.tumblr.com/post/50956376471
15-May-2013: http://audenx.tumblr.com/post/50952729836
13-May-2013: http://audenx.tumblr.com/post/50547278257
10-May-2013: http://audenx.tumblr.com/post/50363516504
08-May-2013: http://audenx.tumblr.com/post/50363321012
06-May-2013: http://audenx.tumblr.com/post/49875576808
AudenX unofficial USD balance owed tally as of Saturday, 06-July-2013: 270 respondents. $791,000.
USD balance reported by IAFCU via SpottedMarley on Wednesday, 10-July-2013: over $2.8M
submitted by audenx to Bitcoin [link] [comments]

Latest update on the Bitfloor situation

Here are links to the email updates on the Bitfloor situation:
Check this thread for most recent information
10-July-2013: http://audenx.tumblr.com/post/55154517024
06-July-2013: http://audenx.tumblr.com/post/54770637002 <-- Great news
05-July-2013: http://audenx.tumblr.com/post/54707157530
02-July-2013: http://audenx.tumblr.com/post/54479938119
26-June-2013: http://audenx.tumblr.com/post/53970438791
21-June-2013: http://audenx.tumblr.com/post/53568535359
17-June-2013: http://audenx.tumblr.com/post/53234614015
13-June-2013: http://audenx.tumblr.com/post/52878432522
10-June-2013: http://audenx.tumblr.com/post/52640707656 <-- Good news
07-June-2013: http://audenx.tumblr.com/post/52414956398
05-June-2013: http://audenx.tumblr.com/post/52251841162
01-June-2013: http://audenx.tumblr.com/post/51902492890
30-May-2013: http://audenx.tumblr.com/post/51761248589
27-May-2013: http://audenx.tumblr.com/post/51584420452
22-May-2013: http://audenx.tumblr.com/post/51488743664
20-May-2013: http://audenx.tumblr.com/post/50956376471
15-May-2013: http://audenx.tumblr.com/post/50952729836
13-May-2013: http://audenx.tumblr.com/post/50547278257
10-May-2013: http://audenx.tumblr.com/post/50363516504
08-May-2013: http://audenx.tumblr.com/post/50363321012
06-May-2013: http://audenx.tumblr.com/post/49875576808
AudenX unofficial USD balance owed tally as of Saturday, 06-July-2013: 270 respondents. $791,000.
USD balance reported by IAFCU via SpottedMarley on Wednesday, 10-July-2013: over $2.8M
You can PM me your email address to be added to the update list and/or PM me your Bitfloor USD balance to be added to the tally.
submitted by audenx to Bitcoin [link] [comments]

Taking bitcoin is too damn hard

I'm starting a new company that is going to make games (such as CastleChaosGame.com, which is my new one) and I'm planning on doing some mining. So I needed a bank account , so I came here and asked where I should get one at. I found out IACFU is supporting of the bitcoin community and I applied for an account.
So as it turns out, to simply take bitcoin and convert it to USD I need the following:
Seriously? I want to take payments for a dollar for micro purchases. This is crazy. Is there any way to avoid this hassle?
submitted by radique to Bitcoin [link] [comments]

Internet Archive Credit Union's stance on Bitcoin businesses

to archive.org support:
Hi, I've heard that you guys are no longer bitcoin friendly.
Can you please confirm or deny?
Thank you
from [email protected]
actually we are and have done quite a bit BUT we are not allowed to take on any MSBs. We are principled just limited.
best... Jordan Modell CEO - IAFCU
PS As FYI you can look up my talk at OSU law school.
to Jordan
So in practice this means you can't offer any Bitcoin-related business accounts but won't shut my personal account down for using Coinbase?
Thank you
from [email protected]
Basically yes. We do not care what you do with your own money its your money. Here are our limitations:
1) We can have a business account that is an MSB 2) We can accept wires but not originate wires. 3) We can not originate ACH's but you can from your account We are working with the regulators on all those but it will be a while. How is that for as upfront as we can be....Jordan 
submitted by d-X-X-b to Bitcoin [link] [comments]

Best bank for a Bitcoin startup

Can anyone suggest a good bank, preferably one with decent Internet connectivity to QuickBooks/Quicken for a new company. I'm not looking to be a money transmitteexchange, so I don't think I'll hit a lot of those problems. However I would like a somewhat reputable bank versus the crooks over at J.P. Morgan, Bank of America, Wells Fargo, etc. Been searching for an Internet bank like IAFCU, but they just don't have the connectivity features I want.
I know, you all want to say what's a bank for with Bitcoin? I still plan to hold most of my company funds in Bitcoin, but sometimes you still have to tap into the legacy economy.
submitted by Paullinator to Bitcoin [link] [comments]

Tradehill's CEO confirms the bitcoin exchange platform has suspended trading due to issues with its bank, the Internet Archive Federal Credit Union (IAFCU). Bitcoin. Tradehill stoppt Bitcoin-Handel wegen „operativen und regulatorischen Problemen“ der IAFCU. August 30, 2013 — Keine Kommentare. Bitcoin. Sicher, Sie können Bitcoin stehlen. Aber viel Glück beim Waschen. August 27, 2013 — Keine Kommentare. Bitcoin. Deutschland erkennt Bitcoin offiziell als „Privatgeld“ an. August 19, 2013 ... Death of a Credit Union: Internet Archive FCU Voluntarily Liquidates IAFCU founder Brewster Kahle explains how NCUA restrictions and the Bitcoin business played into his three-year-old CUs demise. limit my search to r/Bitcoin. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or ... Bitcoin Price. Bitcoin Sets Record 63 Straight Days Closing Above $10,000. Zack Voell Sep 28, 2020. KuCoin. Over $150M Drained in KuCoin Crypto Exchange Hack . Ada Hui Wolfie Zhao Sep 26, 2020 ...

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