it is a far way to go from a high trade volume on exchanger to claiming China owning bitcoin.
Chinese people have always been very interested in crypto currencies and have always invested big money in this market. maybe it is their economy or maybe it is the high number of population there but they have always been so active in this market.
who owns +90% from mining? who owns the biggest exchangers? according to any statistic, China  . Then the whole Bitcoin industry belongs to them. https://bitcoinity.org/markets/listhttps://blockchain.info/poolsIf the numbers are fake then why the Bitcoin media doesn't say anything about that? Normally, the journalism's ethic and the common sense should write: " BTC China, Okcoin, Huobi, LakeBtc are manipulating the price and they must be avoided" or to take an interview with them where these so called exchangers explain the numbers . I don't see any article about that lately. I repeat: over 90% from BTC market belongs to China. Okcoin has 93% from this market too. http://bitcoincharts.com/charts/volumepie/If so, USD/Euro, US and European exchangers doesn't exist as real BTC business |
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there are only 4 licensed exchangers in USA. USA is well known as a country who enforce the financial laws pretty well. Licensed exchangers in USA : Coinbase, Circle, Itbit(for New York only) and Gemini(NY only) . The rest of the US exchangers are OUTLAW (XAPO is one of them) and they can be shut down anytime as it already happened to many... Xapo is not only a...wallet. You can buy BTC from them, they have debit cards as well. That means it is required a money transmitter license. Example: http://www.coindesk.com/bitcoin-firm-xapo-cuts-north-carolina-accessAlso, Xapo is lying like a shit "Xapo has officially relocated its corporate headquarters to Zurich, Switzerland," (May 2015) while on their website is saying: "HEADQUARTERS: Xapo is incorporated in Hong Kong , has an office in Palo Alto, California and operates Worldwide" and MORE in their TERMS " https://xapo.com/terms/" :
"If you are using our Services in the United States, you are engaging not with Xapo Limited but with Xapo, Inc., a Delaware corporation" However, they are not licensed ANYWHERE. Really? most people here on the forum use and share that Xapo is one of the best of the best ? then go and use an unlicensed bank too. you can find many websites stating that they are a bank even they are not. deposit your money with them because i saw many positive review about some unlicensed banks... this is for all the "anarchist" lovers. Go and use an unlicensed bank or banks from Somalia, Tanzania, Gabon, Sudan to keep your privacy...Why do you keep your money in local LICENSED in Insured banks? |
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there are only 4 licensed exchangers in USA. USA is well known as a country who enforce the financial laws pretty well. Licensed exchangers in USA : Coinbase, Circle, Itbit(for New York only) and Gemini(NY only) . The rest of the US exchangers are OUTLAW (XAPO is one of them) and they can be shut down anytime as it already happened to many... Xapo is not only a...wallet. You can buy BTC from them, they have debit cards as well. That means it is required a money transmitter license. Example: http://www.coindesk.com/bitcoin-firm-xapo-cuts-north-carolina-accessAlso, Xapo is lying like a shit "Xapo has officially relocated its corporate headquarters to Zurich, Switzerland," (May 2015) while on their website is saying: "HEADQUARTERS: Xapo is incorporated in Hong Kong , has an office in Palo Alto, California and operates Worldwide" and MORE in their TERMS " https://xapo.com/terms/" :
"If you are using our Services in the United States, you are engaging not with Xapo Limited but with Xapo, Inc., a Delaware corporation" However, they are not licensed ANYWHERE. |
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BTC does not belong only to china.
These stats are not yet confirmed
confirmed by...whom? |
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Let's see USD and CNY flow in and out. Then we'll know what the real deal is. It kinda sucks that people think btc belongs to China when there's not alot actually going on there.
I agree with you. All the exchangers are talking about transparency but no one will want to share this kind of information; IN and OUT transactions. It will reveal how small they are and that all the BUZZ is for advertising. Many from these exchangers would not survive without the money from stupid "investors". |
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Bitcoin with all the BUZZ around it, with all the "investors", with all the shit lies regarding to it, it's smaller than Perfect Money. PM has more real users than Bitcoin. LOL BTC is a VERY small market. Up to 3-4 mil real users. The so called "capitalization" of billions is a fiction thing.If you own BTC worth of 200 millions and you want to sell it , nobody will buy it, no exchanger. maybe you will get the cash in 1-2 years . The exchangers have problems even when it's about 300K-400K and they transfer parts of the money because they fear that the banks will locked their accounts. lol It's a market full of dreamers, hipsters and the only ones who make real money, are those from the black market and few "miners". |
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and just bitstamp who has licensed in luxombourg. but i think people dont care with unlicensed exchange,they just use exchange for trade,and not keep their asset on there. Bitstamp took the cheapest license and this allows them only to deal in....Luxombourg. This license cannot be passported to other EU states. . It's a dust in the eyes for people BUT Bistamp is regulated now. They will pay taxes, they will report the transactions, they will comply with many other rules(at least on paper) According to the share market, BTC-e is much bigger than Bitstamp but not nobody knows who they really are. https://bitcoinity.org/markets/listhttp://bitcoincharts.com/charts/volumepie/ |
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what happens if the next 10 years, bitcoin disappeared and worthless?
Nothing gonna happen,just like now,people busy with bitcoin,and when bitcoin dissapear,people will focus in altcoin,andits similar with bitcoin. i'm sure one of many crypto currency will replacing bitcoin. very good point. before Bitcoin was Liberty Reserve, before that, E-gold . After Bitcoin, other e-currency will arise. |
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OP here is using the term unlicensed liberally. The article describes a very small scale operation that was completely unregistered while most exchanges in mentioned in the OP are registered as companies.
I am talking about financial license which is mandatory for each BTC exchanger. It doesn't matter where their company is registered/located. All the countries have laws who require a "supervision" of this activity when it's about of receiving funds from sending funds to clients. A company is relative simple to register. It's not about that |
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Another one going down! I think these exchanges are operating just like cloud mining ponzi scams, but this have better returns, once they see people store their bitcoins there and is a good amount, they just came up with the same story over and over again"Oh no we got hacked" and boom they disappear with people money. Advice is to never leave your coins in any exchange no matter how trusted are they before they go down.
I didn't heard about them and nor would i use them ever. It makes no sense depositing money to an unknown exchange like that. In the end it is almost a 100% guarantee you will lose your money. I will give you an example of "well known" BTC exchanger but nobody knows where they are located They are BTC-e. Who is behind them? They don't even have their bank account. They are using Moneypolo(a payment processor). Other example : who is Okcoin, the biggest BTC exchanger? |
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an unregulated financial industry will bring chaos but for you it's OK because you are a...libertarian? ok, you don't like the rules, the laws and so on...it's alright. go and live on your own without phone, bank account, TV, internet because the "govs" are everywhere. Without regulation there won't be a "financial industry" and that is precisely the idea. The existence of a financial industry is a parasite to all the people from whom it leeches from to sustain itself. Sure, governments are "everywhere" which is exactly why big, bloated government bureaucracies are the problem not the solution. Give us some specific examples of this "chaos". Go ahead and explain why we need more regulations on top of common-sense laws that make fraud and theft crimes. Why should there be a regulation that says if I want to sell notes, I can only sell them to "accredited investors" (according to SEC regulation) or else I would need to register the notes with the SEC and spend $20K or more on legal fees to be "compliant". Those regulations are not helping anyone other than the financial industry, which shouldn't even exist in the first place. ok. you are a "dreamer". I won't argue with you anymore. The people are using BTC for PURE profit, to take advantage, to speculate and not for dreaming you are talking about other "World"... |
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yes, bitcoin is a risk for the average people who can be hacked very, very easily. Even you are not a computer noob, you can be hacked. See 1000's exchangers who were hacked. Almost all of them so, BTC is a risk as any other anonymous e-currency. And how will "regulation" change this? Credit cards are heavily regulated; credit card fraud never happen, right? Oh, wait, it happens all the time. There are stiff penalties for committing identity theft. Good thing those laws and regulations exist to prevent it...oh...wait...there is a thriving black market where stolen identities are bought and sold daily, and it's growing not shrinking. What's you're point? If you are not careful, someone can steal your bitcoins just like the same thing could happen with anything else. You're trying to suggest that bitcoins should be regulated, as if doing so would have any effect? It wouldn't. Yes, credit card/debit cards frauds are often BUT you get the funds back. ALL of them! Get the funds back after your BTC account is hacked. Tell that to all the people who lost fortunes because they didn't "take care". You can be hacked with all the anti malware, antivirus from this planet. I suggest that all the exchangers MUST get a financial license because these are the laws and because it's for the clients protection to use a regulated financial company. If you run a forex company, you are forced to pay a lot of money, to pay taxes, salaries, etc. If you run a normal financial company, you have to do the same. Other are "stupids" because they comply, the BTC exchangers are smart guys, right? A lot of exchangers ran overnight. You cannot do that if you are regulated or you can but MUCH, MUCH harder and you can easily go to jail....because the everybody knows who you are. |
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an unregulated financial industry will bring chaos but for you it's OK because you are a...libertarian? ok, you don't like the rules, the laws and so on...it's alright. go and live on your own without phone, bank account, TV, internet because the "govs" are everywhere. you were born in a world with rules, a doctor help you to come in this world and that doctor was paid with legal tender(money) not with ..BTC. it's a useless discussion. the point is that all the unlicensed exchangers must be avoided if you care about your money. |
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Bitcoin cannot be regulated because there is no central power or it's not revealed at least and that's why only the exchange business IS regulated. The question is: why the exchangers do not respect the law and why do people use these services knowing there is a huge risk?
Why do you assume that all laws, especially those that deal with money, are fair and just? Are the laws passed for the public benefit, as they should be, or are they merely bits of cronyism that enable those who are wealthy to hold onto their wealth while those who are less fortunate have to slog through a jungle of red tape to elevate themselves financially? The SEC, finra, central bank in the USA mainly exist to ensure that the financial sector exists, remains "too big to fail" and keeps capital out of the hands of most people. The passage of dodd-frank underscored how corrupt the entire financial system really is. That law, in combination with the 3 rounds of QE and a ZIRP have inflated equities sky-high creating the false sense of economic progress where there has only been stagnation. Add to that the shady process of corporate stock buybacks and the table is set for something very unpleasant to happen in the near future. Bitcoins are not a huge risk; you sell them when you need cash and that's it. Nobody can touch them as long as you keep them offline. yes, bitcoin is a risk for the average people who can be hacked very, very easily. Even you are not a computer noob, you can be hacked. See 1000's exchangers who were hacked. Almost all of them so, BTC is a risk as any other anonymous e-currency. |
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Irrelevant for people who are smart enough to keep bitcoins in their own wallet, preferably offline like on a memory card. I only use an exchange when I want to sell BTC for currency. I do not regard them as a bank nor should anyone else. I don't even regard banks as banks. It's up to the individual to make smart decisions about where to store their bitcoins...but in reality, you are not safer with your money in a bank account for the simple reason that all legitimate banks must and will comply with government/law enforcement...so things like asset seizure abuse are rampant all over America and even moreso in other countries. i don't live in USA BTC won't have any success because the normal people are not and won't be tech savvy to use a memory card in order to keep the money on it... Yes, if you think BTC is a very small niche which it is, then it's alright. It will be only used by computer geeks If the exchangers won't be licensed, they will be closed and the owners will go to jail and the trust in BTC wil go away day by day. The regulation as it is(good or bad) it brings trust. That's it. |
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great news.
I have already asked it in another thread, but is there some sort of insurance on bitstamp funds and/or customer funds?
Right but their license as payment institution (PI) is only available in...Luxembourg. This licensed cannot be passported to other EU countries. The Electronic Money Institution (EMI) can be passported BUT not the PI license. So, Bitstamp is lying like a shit or they are too stupid to know what they "bought" .  In short, the Bistamp license is good but only within Luxembourg and indeed they will cut the fake transactions with a half. They will have to appoint an external auditor, they will have to comply with strict rules and it will be harder to make the shits they did till now(with the Willy bot). Also, the funds are not insured BUT it's much better than nothing. A PI company is regulated and they cannot disappear overnight.It's out of the shadow. |
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Right but their license as payment institution (PI) is only available in...Luxembourg. This licensed cannot be passported to other EU countries. The Electronic Money Institution (EMI) can be passported BUT not the PI license. So, Bitstamp is lying like a shit or they are too stupid to know what they "bought" In short, the Bistamp license is good but only for Luxembourg and indeed they will cut the fake transactions with a half. They will have to appoint an external auditor, they will have to comply with strict rules and it will be harder to make the shits they did till now(with the Willy bot). |
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This is very good news. companies such as steam will use bitcoin. This is evidence of the growing and broad acceptance among bitcoin. I believe this year will present some of the company's e-commerce which will follow progress of steam. bitcoin has been great and it's time a new era started.
it's a evidence of shit. it's nothing. Overstock accepts BTC since 1 year ago and they only had few transaction. That's why you didn't buy games via Steams until now? Because they didn't accept BTC? |
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who is BTC-e? where are they located, what's the company name, are they financial licensed? you should think about that before you put trust your money in? it is sufficient that you use google .. it does not hurt  BTC-e is one of the major exchanges on market .. Check here: http://bitcoincharts.com/markets/i checked and it doesn't say where they are located, their office(address), who is the director of the company and IF they have a license for doing financial transactions. as a major player, BTC-e should have all these listed on their website, right? Mt. Gox had all of that info listed but they ran off with mucho coins. So ask yourself, does all of that stuff really matter? Yes,sometimes it matters. If it doesn't matter then the people should not complain that an exchanger is running overnight. They accept to deal with unlicensed exchangers so they deserve to lose How can i use an exchanger who is not regulated by anybody? How can i trust my money to X or Y just because it's "well known" on the BTC market which is anyway 90% black market? Ok. I wanna take the risk...then I won't whine when the time will come : " oh, oh, i lost the funds ! HELP !" |
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I like btc more than gold becaues you can send enormous amounts of it all around the world in seconds  if you have an enormous amount of money, what are you doing on a forum instead of spending your life with hot girls on an island? |
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