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241  Economy / Exchanges / Re: Where do exchanges store the coins? Private per customer or combined? on: December 08, 2019, 10:09:06 AM
Quote from: Heisenberg_Hunter link=topic=5207606.msg53279192#msg53279192 date
In other words: can anyone who has seen at least 1 transaction related to my Coinbase-account, therefore see my balance I am holding at Coinbase?
No they cannot since the coins move to a larger cold wallet and wouldn't be associated with your account when seen through explorers. Hence you are the one who could see the balances which are updated in front end system of the exchange.

I am not enterily sure about this
Maybe if the transaction is considered small value according to their internal policy, your funds may remain in that same address you transferred for a long time.



In my experience they don't leave coins in depositing addresses for long. They usually sweep them up daily and transfer them to one of their cold wallet addresses.
242  Alternate cryptocurrencies / Altcoin Discussion / Re: Why Altcoins not Growing These Days on: December 07, 2019, 02:35:54 PM
As we all know , crypto market is not doing so much in these days. Major Altcoins are bleeding, even top currencies are not increasing
Major reason according to my opinion is the lack of new investors. New investors are not showing interest.
in 2020 I think will be better than Today. What do you think, what is your prediction about crypto market. kindly share your thought.

Lots of investors got badly burned by the ICO craze in 2018, and are staying clear of the altcoin market.

In my opinion a lot of alts need to get sent to the altcoin graveyard and the community needs to concentrate on getting about ten alts onto every single exchange on earth to ensure sufficient liquidty for them.
243  Economy / Exchanges / Re: Is Kraken better than Coinbase Now? on: December 07, 2019, 02:30:20 PM
If you are trading bitcoin or litecoin against euros, then Kraken is definitely the best because their euro markets are liquid.

On Coinbase (and other exchanges) you can wait ages for your order to get filled, because there isn't much liquidity in any of their euro pairs.

On the other hand if you are trading against dollars, Coinbase is best.

So - the answer to your question is, "It depends on which trading pair you concentrate on".
244  Bitcoin / Bitcoin Discussion / Re: This is absolutely not good for India Bitcoin community! on: December 07, 2019, 11:11:57 AM
The governor of India’s central bank, Shaktikanta Das, has restated that the Indian government is against private cryptocurrencies. This all comes ironically amid talks of India launching its own Central Bank Digital Currency (CBDC).

India has been discussing cryptocurrencies and the regulations surrounding them for over a year, and overall taking a hardline stance. While no official law has been passed, the latest comments do indicate the steps the country might take.


Click here for the full news

So they are following the footsteps of China, ei?

I just don't know what would be the reaction of the Bitcoin and cryptocurrency enthusiasts in India about this. I know this is not good for you guys like what is happening in China.

They would prefer blockchain over Bitcoin and other cryptocurrencies. But I highly believe that there will be a change of heart in the future about private cryptocurrencies.

For sure, India would be left behind if the government itself will not embrace private cryptocurrencies within the next decade. What would be your opinion or reaction about this guys. Kindly share it here. Cheers!

I am not sure why you are surprised.

India still has capital controls as it tries to prevent money leaving the country. And cryptocurrency is a way for money to leave the country.

So baby steps - first lobby for the end of capital controls, and then you can lobby for the restrictions on cryptocurrency to be lifted.
245  Economy / Exchanges / Re: Coinbase hacked on: December 07, 2019, 10:54:33 AM
Had Coinbase USD WALLET EMPTIED this week while down loading coins from POLONIEX,  I thought Coinbase was secure. Coinbase says they can't help. Now what.

If your USD wallet was emtied - either the dollars were withdrawn to a bank account that is not yours, or used to buy coins which then got transferred. Which is it?

I find it hard to believe the dollars were withdrawn to another bank account. Coinbase is pretty hot on ensuring the IDs on their wallets match the IDs on the linked bank accounts.
246  Bitcoin / Bitcoin Discussion / Re: Nearly $10 billion worth of BTC moved in just 15 minutes? on: December 07, 2019, 10:39:31 AM


For me, this is a such a huge amount worth of Bitcoin to be moved in another address in only 15 minutes. However, it's still a mystery whatever the reason is.

These whales are just fortunate enough to accumulate Bitcoin during the early times. Until now, I still regretted in doubting about investing in Bitcoin years ago.

Correct me if I'm wrong, but these whales know what they are doing. They are here for the long-term since they have enough BTCs in their arsenal, especially the next year's halving. However, I would not really count on halving's guarantee of BTC's price pump.

It's likely not a whale but an exchange consolidating it's accounts. If they have a lot of dust they will move it to consolidate it into fewer addresses.

Most bitcoins are held at the major exchanges rather than in whales wallets.
247  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Frozing Funds from Hacked Exchanges on: December 06, 2019, 01:32:33 PM
There are some consecutive incidents have been happens about "stealing funds"

But let's talk about the usually scenario on crypto world which is "Hacking" and how exchanges helps to minimize and protect not only the funds of the investors as well as protecting trust of all crypto users.

There are narrative that saying exchanges like Binance, Bitfinex, poloniex etc. Practicing frozing funds from wallets that currently holds funds from hacked exchanges.

Is it possible that they give back the funds from investors who are victims of exchanges breach?



It depends on whether the thefts have been reported to the police. If they have been reported, and the police are able to prove in a court that the coins were stolen, then the courts can order the coins to be returned.

But it all needs to happen by the book.
248  Bitcoin / Bitcoin Discussion / Re: Satoshi should be in Time's influnetial person of the decade list on: December 06, 2019, 12:35:25 PM
Is there a high possibility they will include Satoshi in the list? No one knows his face so how can they put it in the magazine? I think that the influential people they would be including in the list are those who give much impact on people about something. Like how they perceive thing, that can help shape people's actions. I don't know if Satoshi would fit in that. The only thing we know about him is bitcoin, but not everyone is well aware of it.

They won't include him.

Bitcoin and the blockchain method of avoiding double-spending on the internet are great innovations to be sure. But they haven't yet affected the real economy because people are using it for speculation only. Whereas previous innovations like the internet and world wide web really did change the real economy, as did the invention of the telephone and car.
249  Economy / Exchanges / Re: Kraken now supports the Swiss franc (CHF)! on: December 06, 2019, 12:19:00 PM
Kraken now supports the Swiss franc (CHF)!

Quote
Good news – in collaboration with our newest EUR funding partner, Liechtenstein-based Bank Frick, we have added our newest fiat asset, the Swiss franc (CHF). This is the sixth currency that Kraken will trade, joining USD, CAD, EUR, GBP, and JPY.

This latest partnership further promotes our mission of delivering financial freedom by giving clients more choice when it comes to managing their assets.

https://blog.kraken.com/post/3265/kraken-now-supports-the-swiss-franc-chf/

Thoughts on this one? Will it bring more clients to Kraken now that they included another fiat asset here, or it won't have an impact at all?

It depends on how easy it is to withdraw Swiss Francs.

For example, though Kraken allows you to trade bitcoin against the British pound, it's eye-wateringly expensive to withdraw pounds. Which means Brits don't bother to trade bitcoin against the pound, but instead trade against euros and use sepa to withdraw those euros to a british bank account (the bank changes them into pounds).

It's the withdrawal facilities that are weak in most exchanges.
250  Economy / Economics / Re: Coinbase Holds a Whopping 966,230 Bitcoin ($7B) in Cold Wallet on: December 06, 2019, 11:46:29 AM
Hackers are working on every exchange but since coinbase is good, they can't easily hack the system so I'm confident that investors are still safe in Coinbase despite of this advertisement. They hold a huge fund at a col wallet, and if you have bitcoin in coinbase you must still need to protect it and don't rely on coinbase system itself. I hope this numbers can help the market to survive, by that numbers we should start pumping.

Hah! Famous last words.

Coinbase says they are safe, and they probably believe that. But all the exchanges believe they're safe till someone manages to break through. They just need one super-smart hacker to do it.

The whole point of decentralised cryptocurrency is that there isn't a single point of failure that can wreck the whole project. By centralising coins in an exchange like Coinbase, you bring the single point of failure back into play. Maybe we can trust coinbase, but what if we can't?
251  Economy / Trading Discussion / Re: Traders who never bother to learn how to trade on: December 05, 2019, 11:05:17 AM
I know there are some traders who count on pure luck. They think they don't need expertise and knowledge about cryptocurrencies and market. Such approach isn't for long term, you might have some beginners luck but that will past very quickly and soon you will find yourself in situation that you face losses and don't actually know what are you doing and why.
Such traders often think trading is like gambling, that is why they have such attitude.

They're in this space because they want to "get rch quick" and they think cryptocurrency is the way to do this. In the late 1990's the same type of mentality were trading stocks on the NASDAQ.
252  Alternate cryptocurrencies / Altcoin Discussion / Re: After IDAX, now Dash? on: December 05, 2019, 11:00:04 AM
A senior advisor for the Dash Core Group has apparently disappeared with the funds of several investors. Concerned parties within the community are left trying to put together the pieces.

A prominent individual within the Dash Core Group has apparently gone missing in what is increasingly looking like an exit scam. The now-gone senior advisor for Dash, known by his moniker ‘moocowmoo,’ was also the owner of a service specializing in ‘masternode shares.’ The individual has disappeared and apparently run away with the funds of several Dash investors.


Click here for the full news

Oh my, oh my, oh my! What is going on now in the cryptoverse?

Earlier, we have IDAX CEO who suddenly disappeared with the cold wallet. Right now, Dash's senior advisor follow suit by disappearing with the investors' hard-earned money?

I just do not know who's next. It means that even if you are a reputable kind of project, someone in your team would likely turn their back on the project and may do "evil stuff". Betrayal in short.

It means that any time of the day, week, month or year, one or a few in every crypto project may be the "dark horse/s" who would betray or "faking" their loyalty. Their public reputation and trust would be affected as well.



What's going on is the same thing that has been going on since the beginning. Don't keep your coins in exchanges, don't trust them to other people. Be your own bank.
253  Bitcoin / Bitcoin Discussion / Re: There are a lot of rumors about the Chinese market recently.What is truth??? on: December 05, 2019, 10:40:44 AM
It's rumours, so definitely there's no truth in it.

I'll give you one example, Bitcoin had a wild weekend, briefly topping $10,000, after China’s Xi sang blockchain’s praises. But the following weeks, Bitcoin sinks to lowest level since May, falling $3,000 in a month as China accelerates crackdown.

So a piece of advise, take any news from China with a grain of salt.

The trouble is that a lot of automated keyword trading buys and sells when they see the words "China bans..." or "China approves..."

And as long as ordinary traders follow the same signals, it will keep on happening.
254  Economy / Economics / Re: Canadian Regulator Green-Lights Bitcoin Fund IPO on: December 05, 2019, 10:28:20 AM

With the latest row between president Trump and Prime minister Trudeau in London, Canada could need to further integrate crypto to stay away from economical bargaining from the US. Crypto is the way for financial freedom.

It would be funny if Canada developed into a cryptocurrency centre, drawing money away from Wall Street!
255  Bitcoin / Bitcoin Discussion / Re: Why Did Satoshi Nakamoto Choose 21M as Bitcoin’s Maximum Supply? on: December 04, 2019, 01:17:08 PM
Bitcoin’s maximum supply was set at 21M on day one by Satoshi Nakamoto. What was his reasoning for this benchmark?

Bitcoin is famous for being a deflationary currency. Its total circulating supply is capped at 21M and can never be altered. Although many have discussed the reasons for instituting a maximum cap, few know about why Satoshi chose 21M as the benchmark.


Source link here

We all know that every single coin or token has their own benchmark for a certain of reasons. But for me, lower supply means huge demand for that coin or token.

But the almighty Bitcoin? Satoshi has his own reasons too.

For a total supply of 21 million BTC, it gives them the advantage to be on a huge demand for individuals, companies, startups, banks (who embraces crypto and blockchain) and institutions.

If you have your own reason or opinion why Satoshi Nakamoto chooses 21 million as its benchmark, kindly share it here. Thanks!

It's an accidental result of him choosing ten minute blocks and 50 bitcoins per block initially, halving every four years.

If he'd chosen 100 bitcoins per block and five minute blocks, it would have changed the end amount of bitcoins generated.

As to why he chose 50 bitcoins per block - I think he thought it was a nice number, if you start with 100 bitcoins per block you reward the early miners too much.
256  Economy / Exchanges / Re: virwox End of Service: January 6, 2020 on: December 04, 2019, 12:35:59 PM


This platform is one of the oldest and easiest ways to buy Bitcoin using PayPal. More than 260 billion dollars of (SLL) token were traded on that platform.
Paypal seems to have been a factor in the closure.


I'm surprised they didn't find other partners like Skrill for example. It's really sad seeing these pioneer companies fail. Without their efforts and services bitcoin wouldn't have got to where it is today.
257  Bitcoin / Bitcoin Discussion / Re: Satoshi should be in Time's influnetial person of the decade list on: December 04, 2019, 12:30:19 PM
He should - but the problem is the cover. How are they going to depict Satoshi when they don't know if he is a single person or a group of persons and no-one even knows if any of them are still alive as the coins mined by Satoshi have never moved.

If those coins start moving, there will be an earthquake in the bitcoin eco-system.
258  Economy / Economics / Re: How does the US and China trade war affect bitcon? How do people think ? on: December 04, 2019, 12:27:37 PM
Will it be beneficial or harmful to electronic money transactions when the trade war between China and the United States occurs, the event has nothing to do with the crypto market?

IMO this is completely unrelated to bitcoin.
All of this trade war shit (which is more of a banter than a war) doesn't have any real influence on either the world economy or cryptos at all.

This is just a silly game between the US and China. Two 'alphas' who want to dominate each other. And none of them is winning.

This shouldn't have any influence on any electronic money transactions (crypto, wire, paypal, ...) at all.
I can't imagine, at least.

The trade war IS affecting the world economy - it's hurting China and all the countries that supply raw materials and parts to them (so Korea, Japan, Australia etc are all experiencing downturns).

However, I agree with you that this doesn't have an impact on bitcoin. What has an impact is that rich Chinese don't trust Xi jingping and are trying to get their money out of China anyway they can. They used to do it via real estate - China allowed you to take $50,000 out of the country every year, so they bought a property in Canada or Australia using a mortgage, and then sent currency out of china each year to pay teh mortgage. After 25 years you have sent quite a bit of money abroad and have also gained an asset that has appreciated in a safe country. But China has cracked down on that, so people are turning to bitcoin.
259  Economy / Economics / Re: Cryptocurrency Expert Charged With Aiding North Korea on: December 04, 2019, 12:15:52 PM
I guess it would totally work for the dictators as well and I never really imagined it before. These guys could actually buy anything they want and also sell anything they want using the blockchain technology and the darknet territories. I mean there are people who kill others for money in darknets, mercenaries or whatever they are called, you think it would be impossible for North Korea to sell guns they get from China and Russia on darknet to gain more economical power?

In return they could use that bitcoin to buy stuff they need like food or resources they could help the people or at least the government itself. Long story short bitcoin is decentralized and it is great for public who hates their governments but unfortunately it is also great for governments who hate their public too.


Yes. And Kim Yong Un has totally understood the benefits of cryptocurrency to dictatorships.

Most of those ransom malware viruses which demand bitcoin are from North Korea, and it's state sponsored malware designed to get them bitcoin which they then exchange for dollars on various exchanges using proxies.
260  Bitcoin / Bitcoin Discussion / Re: What the Crypto Markets Are Saying About the Future of Bitcoin on: December 03, 2019, 10:56:52 AM
The problem is everyone is too focused on what the price of bitcoin at the moment, it needs to be straightened out so that there is no repeated panic. Everywhere always discusses the price of bitcoin dropped, when the price of bitcoin rises, and the like that refers to the panic question. 
I am very sure that if we can use bitcoin as an aspect of life, the price will reach stability, besides that many countries have started to adopt the blockchain which means it shows a positive thing for cryptocurrency.

Everyone is focused on the price because it's so volatile. Losing 20% of value in a month makes people nervous (normal currencies barely move 2% in a month). Until this volatity stops, bitcoin will continue to be a fringe asset rather than a mainstream currency.
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