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1761  Economy / Economics / Re: "Switzerland wants to be a crypto nation" Economic minister. on: January 30, 2018, 12:02:05 PM
I read this news at  https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630  and its  really gladly my heart.   
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

Switzerland is traditionally the land of financial services - so if bitcoin and cryptocurrency are the next iteration of finance, of course they want to be in on it. I would have been more shocked if they announced they were banning it.
1762  Bitcoin / Bitcoin Discussion / Re: Bitcoin. Time is running out on: January 30, 2018, 11:52:31 AM
From around 2013 to 2014 there was a lot of hard work trying to get merchants and others to accept bitcoin. I remember euphoric posts on this forum when Overstock enabled bitcoin and when Steam and Stripe did it too.

We still have Overstock, but Steam and Stripe have dumped bitcoin. Unless we can get them back (and encourage other merchants to enable bitcoin) then bitcoin is dead as a payment processor.

An alt will take it's place, but am not sure which one yet. (It won't be Ripple).
1763  Economy / Speculation / Re: Is BitFUnix and the Tether dollar USDT about to crash the Bitcoin market? on: January 30, 2018, 11:26:31 AM
If people stopped trading on Bitfinex, and traded instead on other exchanges against USD, we wouldn't have this problem.

But looking at coinmarketcap, Bitfinex is still the #2 exchange by volume. People need to switch to Bitstamp or Gemini. At least on those exchanges you know you are trading with real money.
1764  Economy / Trading Discussion / Re: Someone Just Transferred 40000 Bitcoins on: January 30, 2018, 11:20:37 AM
Someone just moved 40000 Bitcoins. And the best part is the fee! LOL

Just imagine the paperwork you need to go through if you are going to move 400M USD from one account to another if you are going to use the banking system.

https://blockchain.info/tx/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0

It looks like they've just moved their coins to a segwit address (the output address starts with a 3 which indicates segwit). Just some housekeeping here, nothing to see.
1765  Bitcoin / Bitcoin Discussion / Bitfury Enters Bitcoin Crime-Fighting Business with Crystal Launch on: January 30, 2018, 11:09:45 AM
https://www.coindesk.com/bitfury-enters-bitcoin-crime-fighting-business-crystal-launch/

Quote
Bitfury isn't waiting for law enforcement to clean up the bitcoin space.

After years of working with government agencies leery of bitcoin's seedy past, the blockchain services firm best known for its bitcoin transaction processing business has decided to take matters into its own hands. Launched today, a number of tools collectively identified as Crystal are intended to make it easy for users to identify and investigate criminal activity on the world's largest blockchain.

But that's not to say that the end goal of Crystal is philanthropic.

Developed over a two-year period with feedback from former senior-level government officials, the platform was ultimately created to help bitcoin once and for all move past its association with black market transactions.

Beginning today, a light version of the Crystal software will be made available for free to individuals, with pricing for enterprise subscriptions to be released in March.

The core of the toolkit is a detailed risk scoring solution that helps law enforcement agents and investigators trace suspicious transactions to a final address, or a point of withdrawal. By tracking the relationships between so-called "bad actors," Crystal will generate a score of the likelihood a particular address is related to illegal activity.

The results of the data analysis are then presented in a visual graph that can be integrated with other software tools and used to prepare legal reports as part of larger investigations.

Other tools enable the autonomous tracking of bitcoin addresses over time, custom reports that can be sent based on predetermined criteria or triggered by transactions between  groups and advanced services that include previously revealed technology for "untangling" transactions that have been sent through laundering software, called mixers.

"We are analyzing the web, we are analyzing the forums, we are analyzing different kinds of sources, and combining this information and getting some kind of result if this transaction is risky or not," said Vavilov.

I wouldn't be surprised if exchanges started using this software, to help reduce scams and prove to govts they are "fighting crime".
1766  Economy / Service Discussion / Bitcoin Exchange BTCC Just Got Acquired on: January 30, 2018, 10:47:13 AM
https://www.coindesk.com/bitcoin-exchange-btcc-just-got-acquired/

Quote
Bitcoin startup BTCC has been acquired by a Hong Kong-based blockchain investment fund.

While details remain scarce on the deal, BTCC said in a press release that the move will help its efforts to expand internationally following its recent closure in mainland China.

Bobby Lee, BTCC's co-founder, said:

    "Today's acquisition is an incredible milestone for BTCC. ... I'm very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.”

According to the statement, the company now aims to "lead every segment of the digital currency ecosystem," expanding into the international market after Chinese authorities forced the closure of all cryptocurrency exchanges at the end of September 2017.

While its DAX cryptocurrency exchange is no longer in operation, BTCC will focus on its three main products: a mining pool, its Mobi bitcoin wallet and a USD/BTC exchange service.

According to BTCC, which is now registered in the U.K., its exchange business traded over $25 billion in bitcoin in 2017, while its mining pool produced almost $900 million-worth of bitcoin in the same year.
1767  Economy / Speculation / Re: Bitcoin could loose 90% of its value on: January 30, 2018, 10:38:53 AM
I think what he doesn't understand is that the main thing underpinning bitcoin at the moment is that it isn't correlated with other assets.

Witness the bond market sell off in recent days. Witness the nervousness that stocks will fall as the Fed hikes interest rates.

Over the last year you had loads of assets moving in concert, which is a nightmare for hedge funds because the whole point of them is that they hold uncorrelated assets. Hence the interest in bitcoin.
1768  Economy / Economics / Re: Deflation on: January 30, 2018, 04:06:22 AM
We always hear about economies collapsing due to inflation. Can anyone give me one example of an economy collapsing due to deflation?

Most of the global economies after 1929.

Here are the economic indicators from 1929 to 1932

Economic indicators

Change in economic indicators 1929–32
   United States    Great Britain    France    Germany
Industrial production    −46%    −23%    −24%    −41%
Wholesale prices    −32%    −33%    −34%    −29%
Foreign trade    −70%    −60%    −54%    −61%
Unemployment    +607%    +129%    +214%    +232%

It only ended with WW2.
1769  Economy / Service Discussion / Re: Are there any crypto fund managers available.. on: January 30, 2018, 02:54:36 AM
There is now also a cryptocurrency token fund made up of investments in hedge funds:

https://www.investmentweek.co.uk/investment-week/news/3023496/cryptocurrency-fund-of-hedge-funds-launched-on-back-of-soaring-valuations

Quote
The APEX Token fund, the first tokenised crypto-focused fund of funds, allows investors access to a diverse portfolio of assets managed by a selection of cryptocurrency hedge funds.
It is primarily targeting retail investors and those already familiar with investing in cryptocurrencies, who want more diversified exposure to this asset class.
By investing in a basket of five to 15 hedge funds, each employing uncorrelated investment strategies, the group said the fund mitigates the volatility risk which comes from investing in a single asset class, while maximising returns in the rapidly growing blockchain markets.
In 2017, over 90 new cryptocurrency-oriented hedge funds launched and over 200 crypto assets came to market.
Led by Christopher Keshian and Ari Nazir, the APEX Token fund team has over twenty five years of collective experience working in crypto ventures focused on investing, technology and data, including creating the crypto hedge fund Neural Capital.
 
Investors can buy into the new fund by purchasing APEX tokens which are registered on the Ethereum blockchain, which means they are not restricted by a high minimum investment or multi-year lock-in period.
Tokens can be bought from March 2018 via the APEX Token fund website and the initial cost will be $1. The minimum investment in the fund is 0.1 ETH, with the cryptocurrency currently worth around $862.
The APEX Token fund will not collect fees from investors after the tokens are distributed. Instead, the fund will only charge an initial upfront fee to cover administrative and management costs throughout the lifecycle of the fund.
APEX tokens are tradable from the moment they are distributed to individual investors and they can be bought and sold on any exchange which chooses to list them. Tokens can also be exchanged directly through peer-to-peer transactions. Every time an APEX token is bought or sold, the transaction is recorded on the Ethereum blockchain.
1770  Bitcoin / Bitcoin Discussion / Re: Bitcoin effects on the environment ..... on: January 30, 2018, 02:45:48 AM
As we know, for bitcoin mining lots of electricity required, so if this way we continue doing,Is it affect the environment ?
Lots of electricity means lots of coal burned.
So shall we go towards green energy ?

A large chunk of bitcoin mining is done in Northern China, in Inner Mongolia. People in that region built huge hydroelectric plants to fuel huge cities. but after the financial crisis, the cities were ghost towns with no-one living in them. Meanwhile they were generating huge quantities of electricity which was then wasted. Some miners made deals to buy this electricity at a discount.

There is no cost to the environment because those plants were already generating electricity and wasting it.
1771  Economy / Economics / Re: Fast Forward Time with Bitcoin thought experiment question on: January 30, 2018, 12:40:12 AM
Banks will still exist - because their main function is to provide lending (mortgages, loans, credit card advances).

So people will still be going to banks to borrow, and they will still make money charging interest. Maybe they will innovate and start lending cryptocurrency instead. But they will still be lending...
1772  Bitcoin / Bitcoin Discussion / Re: First UK's bitcoin robbery. Stay safe. on: January 30, 2018, 12:13:59 AM
That is why it's so important to keep your privacy and anonymity hidden. We know cryptocurrencies have advantages in term of untraceable currencies, and the ecosystem contains a lot of anonymity. I'm sure keeping your identity private on the internet is essentials.

Yes - and don't brag, you just incentivise people to try to dox you.

So many people want to show off, for 30 seconds of puffing their egos, but apart from telling your wife, keep quiet about how much you have made.
1773  Economy / Speculation / Re: The game is getting hilariously apparent... on: January 29, 2018, 09:58:57 PM

I would propose that in the coming weeks a few key points are going to occur:

  • Additional regulation will be disclosed by both US and Europe, mainly centric around KYC requirements (will embolden the entire sector, onboarding additional capital, waiting for this event)
  • Extensive price pressure on proverbial price spring will succumb and when it starts its climb up, its going to be rapid, bursting through ATH
  • The fruit of the efforts over past 6 months (project progress over 3rd/4th quarter released at end of 1st qtr this year), which will show additional innovation in the space, driving more confidence
  • Other big cash-liquid players will enter in the space officially, given a global competitor to Coinbase, You don't make that kind of money and not get competition. By 2nd Qtr Announce, 3rd Qtr operational



I agree that we shall see regulation of exchanges, and perhaps I*COs.

As for competitors to Coinbase, I remember Circle once thought they were going to give Coinbase a run for their money. Then the bear market just wouldn't let up and they gave up. Coinbase didn't.
1774  Economy / Speculation / Re: Transaction fees going down~ on: January 29, 2018, 09:22:23 PM
problem is that btc name have got the high fees reputation already, it will take a while till people realize that feees are much lower now,
my best guess for this fee reduction is:

A) more and more is using segwit
B) LN networking is comming, so the spammers have stop spamming as if feess get lower, the urge to not using LN will be more and they hope this way it will fall.


Yes. None of those merchants that have disabled bitcoin (Stripe, Microsoft, Steam) have re-enabled it.
1775  Economy / Trading Discussion / Re: Real time prices on automated scripts like tradingview? on: January 29, 2018, 03:28:40 PM
I don't think there is an open source scrypt you can use. But you can try keeping the following website open:

https://coinalyze.net/bitcoin-live-price-charts/

It pulls in live bitcoin prices from all the exchanges and displays them on a single page, so you can see at a glance the differences between exchanges.

It does the same service for a whole bunch of altcoins as well.
1776  Economy / Speculation / Re: Betting against tether on: January 29, 2018, 03:22:43 PM
Someone on reddit asked Kraken their opinion about what is happening to Tether. Here is their reply:



USDT is not a big volume pair on Kraken, so I don't think they care what happens to it. For other exchanges like Poloniex and Bittrex, it is more serious (Polo and Bittrex have the biggest tether wallets).
1777  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Ethereum at $1000 in Jan 2018? on: January 29, 2018, 03:18:06 PM
The New York Times (Ethereum's biggest mainstream media supporter) has done a huge article extolling the virtues of Ethereum:

https://www.nytimes.com/2018/01/16/magazine/beyond-the-bitcoin-bubble.html

Quote
And the platform that makes all this possible? No one owns it. There are no venture investors backing Ethereum Inc., because there is no Ethereum Inc. As an organizational form, Ethereum is far closer to a democracy than a private corporation. No imperial chief executive calls the shots. You earn the privilege of helping to steer Ethereum’s ship of state by joining the community and doing the work. Like Bitcoin and most other blockchain platforms, Ethereum is more a swarm than a formal entity. Its borders are porous; its hierarchy is deliberately flattened.

You literally can't get better publicity than that.
1778  Bitcoin / Bitcoin Discussion / Re: Bitcoin is still the dominant virtual currency in 2018? on: January 29, 2018, 03:10:29 PM
In the past two weeks, Bitcoin prices have been steadily declining, while smaller virtual currencies such as Ripple, Stellar and Tron have risen sharply in price and capitalization.

Erik Voorhees, CEO of ShapeShift Digital Asset Management, said Bitcoin dominated the deal on the floor a year ago but now more than half are trading in other currencies.

Still, some analysts say Bitcoin will continue to benefit from investors' growing interest in alternative (Altcoin) alternatives. They point out that because it is the largest virtual currency, Bitcoin is often chosen by investors when entering the market.

Bitcoin has not just fallen back in trading. It has fallen back in merchant adoption. This year is critical IMO. Either Bitcoin wins back all the merchants and keeps the commercial infrastructure it has built up, or another coin steals the crown.
1779  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [LTC] Litecoin future in 2018 on: January 29, 2018, 03:00:33 PM
It looks like Litecoin is being used instead of bitcoin in a number of areas.

Cryptobuyer (a Venezuelan ATM provider) has just announced it is dropping bitcoin and enabling Litecoin and Dash:

https://blog.cryptobuyer.io/en/lo-sentimos-bitcoin-bienvenido-litecoin-y-dash/

Quote
Unfortunately in recent months Bitcoin has suffered a serious scalability problem as the number of operations worldwide multiplies, making the network less efficient, slower and therefore more expensive to transact. It is precisely in countries like Venezuela, where the minimum salary of a person is equivalent to 3 USD, where this problem becomes more evident, sending a transaction of 1 USD in Bitcoin can cost 30 USD in commissions, this makes any type of operation unviable.

For these reasons, after an exchange of ideas and much to our regret, we have decided to suspend Bitcoin operations as of February 1 on our web platform www.cryptobuyer.io as well as in our ATM network.

This action will be maintained until the Bitcoin network shows maturity and stability on its operations, as well as cheaper transactions fees, we do not believe in half solutions and we continue betting on the initial guidelines and definitions of Satoshi Nakamoto: A Peer-to-Peer Electronic Cash System.

As a counterpart we are very happy with the integration of two new digital currencies: Litecoin and Dash
1780  Bitcoin / Bitcoin Discussion / Re: Is bitcoin an asset or a currency? on: January 29, 2018, 02:44:38 PM
The American courts may be about to decide:

https://www.bloomberg.com/news/articles/2018-01-29/can-bitcoin-be-regulated-u-s-courts-are-about-to-decide

Quote
The U.S. is trying to regulate cybercurrency offerings. It’s still unclear whether it has the authority to do so.

Federal judges in Brooklyn, New York, are about to rule on the question. In doing so, they could determine whether Bitcoin and other stateless currencies are securities that can be regulated like stocks or bonds. Courts across the country are likely to consult these rulings when considering other cybercurrency cases.

“If it’s not a security, then what is it?” said Peter Henning, a former SEC and Justice Department lawyer who is now a professor at Wayne State University Law School.

In what is believed to be the first criminal case focusing on an initial coin offering, Brooklyn businessman Maksim Zaslavskiy was charged in a case unsealed in November with promoting digital currencies backed by investments in real estate and diamonds that U.S. prosecutors said didn’t exist. The Securities and Exchange Commission also sued.

U.S. District Judge Raymond Dearie said he’ll allow Zaslavskiy’s lawyers in both the criminal and civil cases to challenge whether ICOs can be considered a security under U.S. law. The government has until March 19 to file its argument that cybercurrency is a security.

“If the judge makes the determination that this is not a security, he’d dismiss the criminal case,” said Mildred Whalen, Zaslavskiy’s criminal-defense lawyer. “He recognizes this is a fundamental issue in both cases. It’s all completely new territory.”

Another judge in the Brooklyn federal courthouse is being asked to rule on how cryptocurrencies and ICOs should be treated under U.S. laws.

In that case, the SEC sued last month against Dominic Lacroix, whom it called a “recidivist securities law violator.” The SEC says his Canadian company marketed an ICO called PlexCoin to investors in the U.S. and abroad without registering with U.S. authorities or disclosing past misdeeds.

Lacroix, 35, and his 26-year-old partner Sabrina Paradis-Royer used Twitter, Facebook and blogs last year to raise about $15 million from thousands of investors, the SEC said. Investors in PlexCoin were told profits would be bolstered because the firm had almost 50 “market experts” working primarily in Singapore, who’d list the virtual currency on digital asset exchanges and push secondary market trading.

In reality, the SEC says, it was a scam. Only a handful of employees worked for Lacroix in Quebec, and he concealed his involvement in the company because he has a history of committing securities fraud in Canada. An asset freeze last month was a victory for the SEC’s Cyber Unit, stopping an ICO that promised investors a 13-fold profit in less than 29 days.

U.S. District Judge Carol Amon said she will first decide if the SEC has territorial jurisdiction sue before determining whether PlexCoin was a security. Lacroix is in custody in Quebec after a contempt ruling.

Jason Gottlieb, Lacroix’s U.S. lawyer, said in a letter to the judge that he would challenge the SEC’s contention that it has authority over the matter.

“It’s the Canadians who have unique jurisdiction here, and for reasons of international comity, I don’t think we should be mucking about in their process,” Gottlieb told the judge at a Jan. 9 hearing.

The SEC’s lawyers plan to file their response to Gottlieb’s argument in May. Ryan White, a spokesman for the SEC, declined to comment on Gottlieb’s claims.

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