Does anyone know what the specific law is in regards to crypto debit cards being issued.
It seems in the United States only a bank can issue a debit card. I was wondering what the actual law was and if i can have it issued outside the US and then shipped to myself.
Any information appreciated.
Thanks
Since you are in the United States sorry, you are not covered as most service providers are not offering services to people in your country and even if you want to ship it in, they wont to the extent that some ICOs would even tell you to tick a declaration that you are not from the States to be allowed to participate. Its not their fault its because they don't want to flout any laws of your country that may cause more problem for them with the authorities. The law that does not allow any other entity to issue cards is also binding on other non-bank companies to ship to the United States. Even just recently, crypto cards service providers are only allowed to do so for citizens within the EU which makes every other persons ineligible to receive so your way out is to get it through under the radar means or just forget and find other means. |
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1. Top 1000 Bitcoin addresses control 34.28% of total Bitcoin in circulation.
2. FBI owns 1.5% of world's BTC.
3. 64% of BTC have never been used and may never be used.
Which other interesting and unique facts do you know about BTC? Please share.
I am still waiting for the source of this facts to be sure whether its worth to be relied upon or not. 1. Top 1000 Bitcoin addresses control 34.28% of total Bitcoin in circulation.
Even though this might be true but the amount of people that made this cut, didn't get there by virtue of whether they are intelligent or they have access to so much information or knowledge its because they saw an opportunity at the time when it was not to be touched by many and took it which eventually paid of for them. 2. FBI owns 1.5% of world's BTC.
This is still subject to controversy because I have not read a report by the FBI that they own such amount of bitcoin. Using an average of say 16 million bitcoin then 1.5% would be 240,000 bitcoins. 3. 64% of BTC have never been used and may never be used.
I am still surprised at the practicability of this because 64% of the entire 21M bitcoins would be 13,440,000 |
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I went camping for a few days... and BAM! $11k -> $17k!!!!!! This is crazy!  Are you guys surprised? There is need for a separation from the price growing and the penetration growing. When it comes to the price, then its growing beyond my expectation. If anybody would have told me that the price of bitcoin would be anything near what we have it now, I would disagree but here we are that price has surpasses even the most believer in bitcoin. On the other hand, the penetration of bitcoin to me is still below expectation because the increase we see in price is not still commensurate with the data of people coming into bitcoin that could be said led to the increase in price. There is no big company that have adopted bitcoin in the last few months to the best of my understanding, there is no country that have adopted bitcoin to be a legal tender in the last few months, rather we have seen a lot of regulations happening, Steem stopping the use of bitcoin, countries considering an outright ban and a whole lot of negative news around. There is still more to be done. |
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About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^ This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement> I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days > So to sum up what I am saying. To enable a debit order payment, it took 7 days to process. People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier. For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before> Banks suck! <period> Its really not that bad for banks over here but they still haven't gotten some things right. Over here, to clear a check would take minimum of 3 working days if its interbank but less than say one hour if its the same bank. If you witnessed dispense error from the ATM where you are debited without cash, the reversal could take nothing less than 3 working days or more the same thing when you pay via POS. But sometimes, its all for the better because: 1. Your funds will surely be refunded no matter how long and even if you are scammed, the fund can be reversed and the recipient account barred with every other account connected to that individual. 2. The assurance that your fund is going to the right place with all the controls put in place is enough to have rest of mind compared to btc where by error or mistake, even as little as copying wallet address could make your funds end up in the wrong wallet. Its not all perfect for banks and bitcoin but gradual improvement will make the world a better place. |
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This is beyond either GDAX or Bitfinex but that is the current reality of making transfer via btc. The amount I'd quite high but because of how fast they want it to confirm, they just apply a blanket amount as charges which happen to be 30% of what you are sending. Just like Paxful that would charge you 0.0008 irrespective of what you are sending and some other exchange too. Bit what happened here was you were not told whether to include the transaction fee in what you are sending or they must have notified you but you didn't note it before confirming it which they then deduct from the amount being sent. Hopefully this would be reduced when transaction fees gets lower but for now, there is nothing you can do about it. |
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I believe this is what happened: the hacker hacked into the mail server of hitbtc or intercepted the password reset email triggered by him, then reset my password and gained access to my account. The login history of my email box showed no abnormal access at all; the password reset email that the hacker triggered was received unread. The hacker can't withdraw anything after resetting the password; however, he converted all my coins to BTC, then bought expensive SWT orders placed by him, and then sold the SWT to a very cheap order that was also placed by him. He repeated this process a couple times, then all my digital assets worth $30000+ were almost gone. Even though I have perfect security on my computer, even though the hacker cannot withdraw anything from my account, my $30000+ are all gone.
From what I have seen, this security problem has been there for quite a while. Yet, hitbtc did nothing to prevent this from happening again. Shame on them. I will never use this trash site ever again.
But my own question is how did you even get access to this amount of information to know that all this process occur on your account. The fundamental truth is that if this truly happen but its an isolated case, there is no winning but if its repeated to several people, it shows that there is a breach on their own security. You haven't even posted any information or evidence to support your claim with this could be quickly passed off as FUD and having assets worth that much on an exchange site is something that beats my imagination. |
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I registered for bittrex a couples months ago at a friend house....now, every time i try to log in to bittrex from my own house, it directs me to a page that says "new IP detected" and I have to go into my email to click a link in order to allow access. How do I fix this problem and allow bittrex to recognize my home IP?
If anyone who's had this issue got answers, please do share the wealth.
This is part of their own security mechanism put in place to ensure that your account is safe and there is no way around it only if you want your account compromised. Its not only Bittex that do this even blockchain.info do same as well and the moment you stop receiving such, you should be worried on a high note. Anything we connect to the internet, an IP is generated and depending on your service provider and the network at the point, it changes and that is what Bittrex and others put in place to be sure its still the same person who is accessing the account. |
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I saw ltcminer.io promoted by someone in a comment to a zerohedge post, and I decided to give it a try.
After spending about $60 worth of LTC, I was able to prove that it's a scam. Their website looks very professional, however, they lure you in to buy the next package above the one they promote as free, they pay if you withdraw small amounts below what you put in, and then all subsequent withdrawals stay as PENDING.
STAY AWAY from ltcminer.io!
You have no one else to blame but you and you were only ruled by your greed to make more money with little or no effort then you decides to give it a try. Two lessons from here 1. Anything platform that promises returns with little effort is 99.9% scam especially all that relates to cloud mining. 2. Any advertisement should not be taken on it's face value even if its posted by a green trust member or even a legendary member rank you are responsible for your own safety by doing a further verification of what you read before deciding whether to go for it or not. |
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In as much as this may seems like it might affect the crypto currency market, I don't see it as the one that would mean its end. The only thing that this would mean the end of bitcoin is if they are compelled by law that bitcoin is illegal and the moment that is not there, they would be contravening the provision of the law. Aside that most of this service providers are mainly for profit organisation and I don't see them stopping access to bitcoin related site when there is no law they are relying on to support their decision if one should say I won't, its an open market others will allow. From the article a lot of internet providers AT&T specifically have been investing in the blockchain technology which is another plus for bitcoin. And finally, this is another wake up call to developers that are serious about making a change in the industry to create something of value for everyone rather than jokes all over the place. The United States Federal Communications Commission voted Thursday to repeal rules designed to protect net neutrality. “Priyabrata Dash, editor of Crypt Bytes Tech, wrote earlier this year that the biggest threat to cryptocurrency markets is the repeal of net neutrality.” http://www.ibtimes.com/how-net-neutrality-vote-may-block-bitcoin-cryptocurrency-trading-2628175How important is the U.S. for bitcoin? Will the U.S. devs working on bitcoin need to move or stop working on bitcoin? |
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I don't see any major difference in the two while one 47.5%, the other is 49.5% which means I have only 2% higher chance to win considering the 2% is not even a certainty rather its just increasing the chances and that does not even add any value since its cannot turn to winning even if its 99%, the 1% remaining shows there can still be unimaginable amount of losses. Both sites have been around for a while and have gathered their reputation over the years which this comparison a futile one because I don't see anyone changing his site just to get 2% higher chance. Hey all  so i was doing some gambling lately in both freebitcoin and bitsler sites and i think i discovered something ! i guess you have a higher chance of winning in bitsler than freebitcoin why ? check the image below:  and bitsler:  so you technically have a higher chance of winning in bitsler than freebitcoin ? how come ? and why people still bet on freebitcoin if they already know that the odds aren't in their favor ? |
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Visa: Up to 60,000 transactions per second Bitcoin: Up to 10 transactions per second Visa Fees: Cheap Bitcoin Fees: Absurdly High Visa Fraud: Company alerts you of the fraud and reimburses you Bitcoin Fraud: Funds are lost forever and untraceable Um can someone explain to me again how this is the money of the future? Seems we are taking 1,000 steps backward on this one  Its true that Visa has those advantage over bitcoin which I am not willing to contest but look at it another way that all bitcoin uses to surpass Visa and that is Freedom. In the case of Visa, your funds can be blocked, it can be restricted based on the economy policy of the country you are, it might not be accepted in some countries, you get to save your money with a third party (banks) in other to use the funds, you get traced when you use on some platforms (ask people who want to gamble and its not allowed in their country) among other things. This is the freedom that bitcoin makes available and I would take that over Visa or anything even though other disadvantages might still exist. |
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I think this is the first time a PM makes such a statement. https://cointelegraph.com/news/israeli-pm-bitcoin-could-replace-banksIn a video published on Tuesday, Israeli Prime Minister (PM) Benjamin Netanyahu claimed that the operation of traditional banks will eventually become obsolete and could be replaced by Bitcoin. He based his claim on the trustless nature of Blockchain technology and on Bitcoin’s continuous, notable growth this year.
In the video, Netanyahu stated confidently that banks will eventually become outmoded and be replaced, though when and by what exactly remains to be seen:
“Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
...
“The truth behind what I just said is what’s propelling Bitcoin upwards.”
However, the prime minister also expressed doubt in the ability of Bitcoin to continue growing at such an astonishing rate, stating:
“There’s nothing like this, that will continue rising at this rate, it can’t happen.”
I’ve tried to watch the video to see if the article is interpreting well Netanyahu’s statements, but it seems it is in Hebrew and I can’t understand anything. We have seen people of this forum saying that thanks to bitcoin, banks won’t be needed any more, but I don’t remember an important politician making statements like that. What do you think about? I will have to disagree with the Prime Minister on this that bitcoin would replace banks not now, not later rather they would coexist. Also, I see them adopting the blockchain technology in their operations rather than adopting bitcoin as a currency it won't happen because of even factors that are beyond the banks themselves that goes to the foundation of our very existence. I read an article by Accenture(a reputable consulting firm in the world) on blockchain and how it can be implemented by organizations in their operations this is where I see the cooperation and collaboration happening and nothing else. |
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Everyone touts that bitcoin is this awesome decentralized currency
No, no it is not. It is very much centralized in China. Mining is cheaper there and 58% of the mining is done in China.
When bitcoin is thought to be decentralised, it does not mean as per mining alone. Its talks about the exchange, the control, the security and even the compulsion on how to go about it and bitcoin surpasses all other forms of fiat that might even come close to comparison. On the issue of mining, a country has 58% of mining, that's quite high though but does that stop other people from other countries from having their farms? obviously no. That's where decentralisation comes in. If I have the capital I can set up a mining farm, and get bitcoin just like someone in China. Also, for the fact that they are in China based on your statistics does not mean they agree or they decide what happen they are free to choose and that is the essence of decentralisation. |
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Bitcoin failed as a currency and can't be a store of value.
Bitcoin Cash is Bitcoin. Fees under 1cent, fast reliable and P2P. Just how was descrived on the whitepaper.
I have a feeling that this ideology is what I would describe as a make believe to justify the creation of the forked coin because the same thing was said concerning ETH as the alternative for bitcoin because of fees and transaction time but when the volume on that reached a high point, what did we see? Same thing they complained bitcoin was lacking. The only time when we can begin to say BCH is better is if it handles the same volume bitcoin is handling and the sanity you are celebrating now is still maintained. Truth be told, bitcoin is gradually becoming unsuitable for lower transactions and that is the reality we have to live with at this time. |
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- Have you ever heard about Kim Kardashian?
- Yes.
- Great. What's her purpose?
- Uhm, I don't know. Nothing.
- Exactly! Nothing, yet it's worth billions.
I must just laugh at this comparison bitcoin and Kim Kardashian but they are completely opposite each and giving that as an excuse will show a form of moving or shying away from conversation especially in an intellectual gathering which might give one away as someone who really does not know the reason why he is involved in bitcoin. I would prefer everyone to go have answers for this if you haven't had one because you never can tell, it question might be directed to you at the time you least expect and your response might go a long way in either adding someone to the fold, or giving someone a reason to hold to his myopic view. |
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Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.
If small transactions not approved fast then many will move out, leaving big fishes take out all money and we are facing a downfall.
Fees and confirmation time has to be reduced in some way.
People naturally would pursue the one that would bring the most profit to them and they would prefer not to spend now then wished they had wait a little longer because the value has increased greatly since the last time. Just like the evolution of coins when it was made with gold people would hoard and then mine because it worth more than the face value of it. There is nothing we can do about that even in fiat, while some are spending their money others are keeping to generate more money. Whether that will reduce transaction fees, is something I doubt happening. There are several transactions that have happened that takes several days to confirm and the fee didn't even reduce what would then happen if transactions are doubled it would run to weeks to confirm. Other ways to reduce fees are welcome but not increase in transactions. |
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And so what? Comparing the entire crypto currency market to one Facebook and be joyful that its bigger is even a thing of shame and it shows that the people who are behind the article and bunch of lazy people that don't would not do a research to come out with a great content. People do without Facebook and they didn't die, Facebook is just one company in the several companies all over the world and if this is what we can be joyous about then the entire crypto market is not even anywhere that demands attention and even the its currently getting from government is what I called "overhyping" that it does not deserve. |
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No it’s not like that. All physical currencies like Gold, Crude oil, USD are not that volatile even their prices become high. This formula is applicable only for bitcoin cryptocurrency. Price and volatility is determined by the flow of demand and supply. In case of bitcoin demand is unlimited and is ever-growing. But supply is restricted to 21 million bitcoins. As a result volatility is increasing. In case of centralised currencies, when volatility rises Bank, Government or Central authority interferes and manages the demand. Bitcoin is a decentralised currency so this option is not applicable. So as the demand will increase so will the price and the volatility?
I think I agree with this point of view because even the fiat that the comparison is being against bitcoin would have been more volatile than bitcoin if the government had allowed the free flow of demand and supply without interfering in the market. Today we go to the store to buy goods and expect it to be the same price we bought it last week or last month and even if we expect and increase, maybe some cents or dollars which is bearable all this didn't happen by magic but because of the agents of government regulating the activities of the market and the capitalist within the system. People by default are greedy and when it comes to bitcoin, its just because nobody is regulating it, that is why so much volatility is being witnessed. Even in the stock market, prices don't move this way but to me, its a mixture of both the good and the bad. |
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Much better not to looked back because the regret will continue to slap you specially if you didnt invest at that time.
Some people are lucky enough that they discover bitcoin when the value is too low and they buy more than 100 bitcoin but of course they sell it when the value is getting 5x of the original value. I think yes they hate what they did before but i think also there are some pioneer getting back and continue investing in bitcoin to make much higher income.
A lot of people who regretted at the time thought they were making the right decision because at the time, they would have made profit or cut their losses and whether it was a stupid or intelligent decision, they have been part of history and without their decisions I dont think we will have something to talk about. The same thing will happen to several of us who have some amount of bitcoin saved up and decide to sell simply because we thought we have either made enough profit or we are skeptical that the price will crash. The people of the future will then assume we made some foolish decisions but right now and now, its the best decision. Lets quit judging and saying they regret, its a gamble that played out wrong for them and hopefully they can live with it which is all that matters. |
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Where I'm at capital gains is about 20%. It's a fair bit but I've always written it off in my mind anyway so it isn't a factor for me.
Assuming you live in a place where you are taxed, and there are quite a few that aren't, would you consider going through the rigmarole of moving and limiting your time in taxed places to preserve your crypto profits if they were a significant amount and you wanted to sell?
It sounds like far too much hard work to me, but if rates crept up to 40-60% or more I think I probably would look into buggering off as they certainly don't deserve that much.
What of yourselves?
Over here capital gains is 10% but bitcoin sale is still not considered as an asset to be subjected to that form of tax. Eventually, if it get categorized and we need to pay tax its not going to be unbearable to pay because of our overall tax policy which is to bring large number of people into the tax net in other to increase the tax revenue rather than increasing the tax rate which 40%-60% will run contrary to and that can be contested in the law court. If government won, and I have to pay such amount, going exile won't be an option because what is the point of having to spend profit or excess money without friends, family and the community I will eventually have to pay and enjoy what is left with people that matter to me. |
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