When regulation becomes irrelevant, this is what happens! Also when the companies have options for better regulatory environment, why would they stay and continue to suffer? Just a small example about Zebpay, an India grown bitcoin exchange. When Indian Reserve Bank banned them from trading in crypto market, they simply flew away to Singapore. Now they offer their services to more than 130 countries except India when the company is founded by an Indian and majority of their employees are from India itself. It's an opportunity lost for India to earn on tax income as well to provide employment.
Well said. The entire stance of the Indian government towards crypto in general is pathetic in my opinion. So many exchanges are shutting down as the days pass by thanks to the Supreme Court delaying the verdict on the RBI ban day after day. They basically don't care about the verdict itself and take eons to actually do something which suggests why it is still just a developing country. As long as BJP continues to rule India, crypto investors will always face tough times over there. I am amazed at the story of Zebpay...as they indeed turned the lemons thrown unto them into lemonade. Anyway, one thing for sure is that the industry could not do away with regulations and when a certain country has become hostile to a business there are many more other countries that can welcome with an open arms so this is just a matter of finding the open doors available. Doing business in USA means one has to comply with the burdensome legal requirements but there are still many players trying to survive with the market all because USA still represents a big market that is worth catching with. At least, in USA when you have fully complied with the prerequisites then you can stay onboard unlike with countries which officially ban crypto-related business. |
|
|
|
|
There is a good growth happening in this niche in the bitcoin marketplace and I am sure that these machines must be seeing upsurge transactions due to the bull run ongoing right now. I am assuming that operators of these machines must be making some money otherwise these machines must be in the scrapyard right now. It is ironic that many of these machines are located in USA where the government has not openly recognized bitcoin (though has not illegalized it either). It would be more informative if we can get hold of figures of transactions this industry has been generating so far so that we can encourage more players to hopefully bring down the rates they are charging. In my country, I think there are two or three functioning ATMs into bitcoin but if there is a growing demand I am sure operators can be encouraged to put up more.
|
|
|
|
|
That bitcoin has been surprising a lot of people especially those who are not so positive about its potential is not actually surprising to me. This has been projected and predicted by many well-known and pretending-to-be-known personalities for the past many weeks with many even saying it can go beyond the moon...I supposed it must be going to Mars to help the planet get "terraformed" (just kidding but then why not?).
Now, it is quite understandable that after an exhilarating push upward, there can be some resistance that can hopefully put bitcoin on some dip -- I am actually praying for it as I am now prepared to convert some of my non-performing alts into bitcoin. Bitcoin is slated to continue its bull run this time of the year which I am sure can be ongoing for the rest of 2019 and even into 2020 when halving is scheduled to occur.
|
|
|
|
You can do it like how some or most merchant sites do it. Their product's BTC price increases or decreases depending on the current price of bitcoin. Try buying something from a website that accepts BTC through services like BitPay. It's up to you if you want to immediately sell the BTC for fiat or not.
Volatility can be a very exciting landmark for bitcoin but this can be horrifying for merchants or businesses accepting it as a currency. However, services or infrastructure provided by BitPay and similar providers can solve the problem. This big issue is an ongoing concern especially with merchants dealing with products of lower prices but as always as long as there is a demand for it solutions can be found. While we are hoping that more and more volume of transactions for eCommerce can be possible, we also recognize that this movement can be hampered by the surging volatility especially that we are now in the midst of a big bull run. |
|
|
|
|
I was one of the multitude of victims with phishing scams and I am certainly elated to know that authorities are doing their job of going after and successfully apprehending these people who are using their given talent and skills to rob people of their assets digitally. Now, this should be the right kind of attitude that those in the government should display. Instead of being afraid with cryptocurrency and having misconception that this can promote money laundering and other illegal acts, we should instead focus on getting these people to face the consequences of what they did. These are the people who are destroying the name and image of this blooming and burgeoning industry and we should support the government in the efforts to flush them out and have them stay behind bars.
|
|
|
|
|
Kailangan natin dito sa Pilipinas ang mas marami pang mga players involved with cryptocurrency para sa kalaunan ay marami tayong choices and we know that competition can be good for the consumers or customers ultimately. Sa ngayon, namamayagpag sa market leadership ang Coins.ph kaya naman parang sila talaga ang maaaring magdikta sa market rates...hopefully mabago to with the coming of new competitors. At sana tangkilikin din natin ang mga bago at maka-offer ng better services and rates para maging alive talaga ang merkado.
|
|
|
|
|
This is very interesting but I am more amazed how some people are obsessed in finding the whereabouts of the man named Satoshi Nakamoto who founded the bitcoin network and just left years ago maybe having no desire to be exposed to the whole world. Let the man (or maybe a group of personalities) get the kind of anonymity and privacy he looked for. And let's all stop using his name and details for whatever we may have in our very creative heads.
|
|
|
|
|
As bitcoin has been ascending, it is naturally attracting more and more people to search more information and news updates on its happenings and I am surprised that top countries are from the continent Africa which can partly confirm that there is really a bright future awaiting for cryptocurrency on this side of the globe. Will this be the signal of a big FOMO that can swarm bitcoin and other cryptocurrencies? Let's wait and see what can happen in the next few weeks if bitcoin can be able to hold on to the great gains it so far achieved.
|
|
|
|
They have released this for a while back and only a handful of new exchanges have been accepted by the BSP ever since. I'm actually quite amused on how the Philippines do such things with regards to cryptocurrency acceptance. They ensure that the citizens wouldn't get lured into scams, get the trusted once approved on their books and build the crypto community into a safe scene wherein everyone can get their interests freely without fear of getting scammed in the end. Well for the record, Betur Inc. has been operating since 2014, even before cryptocurrency became mainstream and the government never really issued any warnings whatsoever on the operation of the said company.
The government of the Philippines via the Bangko Sentral ng Pilipinas (BSP) and the SEC have had been doing their contributions to make sure that there is a great balance in embracing new technologies but at the same time addressing concerns like money laundering and financing terrorism as well as the use of cryptocurrency in the drug trade which recently surfaced. So far, all players especially Coins.ph are all following the rules and procedures strictly implemented by the governmental agencies. I think the same can be done in other countries where there should be cooperation, openness and strict compliance no matter what. I am seeing a great future for cryptocurrency in the Philippines and hoped that the country can be one of the big pillars in Asia for the industry. We are looking forward the coming of a Philippine-based trading and exchange platform that can carry the name of the country in the world of cryptocurrency...so far the platform introduced by Coins.ph has still to make a good traction. |
|
|
|
|
Almost all industries are consuming power and then all of us are releasing pollution to the Earth. There is no question that bitcoin mining requires a big amount of electricity but blaming bitcoin alone is not fair. There are more industries which can be considered as virtually worthless...why don't we start to list unnecessary industries or businesses and maybe restrict their use of power? Of course, that would be insane. However, I do strongly agree that we need to study, search and come up with solutions and I think some can be forthcoming with more efficient technologies applied to bitcoin mining.
|
|
|
|
|
Please be reminded that on the first page of this bounty thread, you can all read this:
"Bounty campaign starts on April 30, 2019 END ON 10 June 2019."
I am not aware that this is extended.
|
|
|
|
There are many countries who will not abide by these rules, any large decent exchange will simply pack up and move. It's not like they have to be situated on their land, servers and data are easily transferable.
that might work for a year or two until countries start getting blacklisted by the financial system. the first FATF statement on compliance with these rules is in june 2020. they may start blacklisting at that time. at the latest, it'll start happening by 2021. the larger the exchange, the more difficult it will be to operate in secrecy or simply pack up and move. local governments will start targeting and shuttering noncompliant exchanges once the FATF brings the hammer down. i doubt bitmex and similar exchanges will keep operating this way at that point. Doing business as a cryptocurrency exchange these days is following all the rules as imposed by the government especially if one is based in USA or accepting transactions from American citizens. I am not anymore surprised if all legitimate exchanges will follow this proposed rule of exchanging or sharing customer information with each other as this is being done with traditional banking system. Soon we will witness exchanges being burdened by the same banking rules by the government and refusal to follow means one has no privilege of doing business. Well, as for me, this can be the eye-of-the-needle test for many exchanges...which in my opinion can be better than experiencing an exchange which just evaporated without a trace. Again, this is my opinion. |
|
|
|
The two allegedly created credential-stealing clones of major online cryptocurrency exchanges and wallets and sent links to those phishing sites on Telegram groups and other cryptocurrency-related communities. The two are also accused of being responsible for the 2016 Bitfinex hack, which saw multiple accounts being compromised.
Hackers, phishers and scammers are now using the best technologies and strategies in order to victimize as many people and sites as possible with the aim of stealing as many coins and tokens as possible. I always feel that these people are always ahead in the game of security and intrusion. Good to know that some of them are eventually nabbed by law enforcers and bring them to the court to face the repercussions of what they had done. So aside from North Korea and Russia, there can be a growing hacking community also in Israel...the country also known to be technologically-advanced and security-conscious. |
|
|
|
The red hot bitcoin price rally isnt showing any signs of stopping. The flagship cryptocurrency has touched the $11,000 mark once again and theres ever-growing chorus that it will keep flying higher. Crypto trader Josh Rager is one of those bulls calling for a rapid rise in bitcoin prices from here onward. He has made a really bold prediction that will be music to the ears of bitcoin enthusiasts, who have endured a volatile journey over the past year but are now reaping the reward of stacking Sats. In a series of recent tweets, Rager pointed out that once the price of bitcoin goes past the $11,700 mark, it will find little resistance and break through to highs that we have never seen before. Further Read: https://www.ccn.com/crypto/bitcoin-price-shatter-60000-bull-cycle/2019/06/23/One thing for sure, aside from bitcoin making a big comeback from the winter phase, there is an ongoing trend right now and that is for some personalities (famous and not-so-famous) to make "outrageous" predictions or projections of what can happen with bitcoin soon. We have seen such an avalanche and there will be more, I guess. Personally, I actually find these predictions to be useful in fanning the fire for bitcoin but of course we should not be relying on them for our decision-making. In fact, they can be good for entertainment and for maintaining that positive aura for bitcoin. |
|
|
|
|
Show Posts
