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If there was to be a completely electronic national currency that is run on a blockchain, then I think that it would make it a lot easier for countries to see everyone's spendings and income, in order to give an accurate tax assessment.
However, that would obviously raise privacy and surveillance issues which imo, definitely outweigh the benefits that this system brings to the government in terms of collecting its revenue.
This really has nothing to do with the decentralised cryptos that we are familiar with, though. Right now, tax rules are still being written to clarify the situation with bitcoin and other cryptos. There are still a lot of ambiguities, but in the future, they will be cleared up. But countries nationalising cryptos of its own could be possible in the future, with decentralised cryptos being used in parallel.
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If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
The government would still be able to tax people on income tax and GST if bitcoin does end up becoming adopted further, and that legislation recognises bitcoin as a form of currency. There however may be double taxing happening in regards to charging both GST and CGT when buying stuff with bitcoin. Furthermore, I don't think that increased bitcoin adoption would lead to more people getting scammed at all. The government would obviously still have its own set of regulatory framework in terms of bitcoin investment services, which would restrict ponzi schemes from theoretically operating. Obviously this isn't possible practically all the time, but I think that it's up to the individual to recognise whether an investment is of a pyramid of ponzi nature anyways. Regulators can only do so much in this sense. |
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This is fantastic - Can't wait for BTC to hit the the three thousands again and near a decent buy-in point. SV is now up 40% and stealing all the hashing power, while BTC enters a crash and the mining market collapses around it. Congrats to all that sold when we sold the alarm at $17K, and welcome everyone to a sub $4K Bitcoin!
Don't buy yet, it's still going to slide a lot more. $4K is just the beginning, it will get much cheaper as the failures cascade.
I don't think that bitcoin prices will fall as a result of "failures cascading". Even though I do expect prices to continue to falter for quite a bit before it eventually stabilises out, I think that the main reason is still panic dumping due to the bearish sentiments. But obviously, right now, prices are extremely low and to me, it's a great price to enter into the long term market with. With regards to potential further corrections, I honestly think that the best strategy right now is to start accumulating in equal chunks with dollar cost averaging. There are no guarantees that prices will be going to be that much further down from this point on even though I expect it to, so instead of trying to time the bottom completely right, dollar cost averaging makes more sense imho. |
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I'm concerned about cex.io
Last week they asked for new ID/card verification and won't let me withdraw GBP. Eventually able to withdraw and receive funds on Monday. This is in spite of having provided all information before and having used same information for several years.
This week provided further ID and tried to withdraw GBP told 'withdrawal exceeds limit'. Told to use bank transfer not card.
Decided this was warning of problems.
Also saw that volume of ETH in last 24 hours was a measly 22 ETH.
I'm now concerned that there are problems behind the scenes.
Have removed all my ETH from cex.io as figured it is safer in my own wallet.
Anyone else seeing issues or is this just a freak occurance?
They have had a host of problems in terms of dealing with fiat withdrawals in the past, so it's not really surprising that this is popping up right now. I personally would only consider using them as a crypto only exchange as a result of these issues which they suffered with led to pretty much constant withdrawal delays and sometimes also deposit issues. Not sure if they've fixed it all though. I'd only see the waning trading volumes as a sign of people getting out of the exchange due to better alternatives, not them doing anything shady directly to the market. No idea why you were asked the verification again, you might want to contact their support as they themselves mentioned, but I honestly don't think it's worth it if you're getting your funds out of their site anyways, which is a good idea since you should never be storing funds on an exchange and use them as a wallet. Their customer support is actually decent, but probably totally ruined by the actual service that they provide. |
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Seems like there is still a week and a half to go with their ICO. I hope that people realise now that they're a scam and see this thread.
You know that a project is likely scam or at least if they are repeating previous ideas (and even plagiarising their whitepapers completely in this case), as well as not having any permits or certificates for running a lottery, which is probably needed in most jurisdiction. Also, just look at their completely mediocre site design. After deleting their ANN though, they're probably going to be promoting on other platforms to try to attempt to get suckers to bite.
Also, even if ICOBench approves their team as verified, it is in no way a guarantee that they are. We've all seen cases before where completely fraudulent teams have been verified on these ICO rating agencies. I would not trust their ratings nor their verification for that matter.
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When something highly disruptive as blockchain applied to economy starts to grow exponentially and attracts the most brilliant brains from around the world, the second step is attracting big money to build up new things.
Which are the newest and most important trends and stuff that will came alive when institutons and big money will enter in the cryptospace?
Will be only a speculative journey or do we will be able to change the way we live on this planet for better?
That's an extremely good question. I think that all companies and technologies that were able to disrupt their fields, like the internet, all started with speculation. If you look back at the dot com bubble, there were definitely some businesses that were completely unbased but yet, still soaring in share value simply by riding the speculative bubble. I feel like that's where bitcoin is at right now, but is nearing the end of. We all know that bitcoin is able to be a store of value, and be able to serve a niche of people who needs to put their money in such form of assets in order to preserve their wealth, potentially due to hyperinflationary conditions with their own fiat currency. I think that people are still honestly very misguided in terms of their understanding of bitcoin at this stage, which is part of the reason why things are still speculative right now, as they don't realise the actual economic and technical benefits that bitcoin brings. But in the future, as adoption increases and real usage increases, I do think that speculation will be a lesser aspect that it has been. |
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~
LBC now requires KYC. AFAIK, depending on the method of payment, you may also need to do a KYC verification when using Paxful. Yeah, LBC does require KYC but only once you reach a significant trading volume. But in Paxful's case, most of the payment methods I'd say you are able to find advertisements running without verification as a requirement. Of course, that will result in much worse off rates for the buyer. But based on OP's requirements, these are the only two that can come close. If you have this many requirements regarding anonymity, legitimacy, and security/2FA, you're going to have to be comfortable with taking a haircut in terms of rates. |
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I'm not worried about the price because firstly I have my own bitcoin stock which I hold and which I sell on a regular basis but in small portions to balance my earnings regardless of bitcoin be at $20k or 2K. Secondly my customers from outside Europe pay me in Bitcoin and I always get the same amount of money regardless the bitcoin value at the time. So if bitcoin is at $20K great I get less bitcoin in payment but afford to have good return on my bitcoin savings. If bitcoin crashes to 1K it does not bother me either as I get a lot more bitcoin for each job I'm paid. Lastly I got my private pension also invested into bitcoin via a Swedish based stock. I play with that a lot... like when bitcoin goes up even if a bit I sell my stocks and keep the cash and once it crashes I buy a whole more load of units and so my units are keep increasing since then. So I feel sorry for those who did some cold investment, but this situation does not bother me at all, and since I have now sold my pension I kinda hoped bitcoin would go down even up to $500 as at that point I would by craploads of units back and wait for a new sell window  not to mention the amount of bitcoin I would gather from payments on my current job which once bitcoin would just hit even 3K back would give me a huge profit. So yes a lot of people upset about this situation but for someone like me for example I always have a win win situation no matter if it is high or low and I think some of you investors and bitcoin holders should think about ways of taking advantage rather then just buy and hope for the best. Don't be just a passive investor but an active one if at all possible. If you're purely speculating in the short term prices of bitcoin, then you probably shouldn't be in the market in the first place. But you're absolutely right. The Bitcoin market has always been volatile and bull markets and bear markets has always been common, and this bear market is no different imo. What bitcoin investors should be focusing on is the long term where I believe there is potential for bitcoin to be universally recognised as a store of value, if not a universal online standard of payment. As demand increases, so should the price in the long run. I think that the panickers right now are likely the ones that bought with the FOMO in last year's bull market, which was clearly not a wise thing to do. To be completely honest, I'd just dollar cost average and buy right now given the prices are under $5k at this stage which will prove to be extremely cheap given the institutional interest already showing. |
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Your second requirement is really hard to fulfill given the nature of KYC and AML laws in most countries.
Binance and Kucoin both have limits of under 2 BTC per day AFAIK, and they obviously need your 2FA info.
The only things that are close to exchanges that I could think of is Localbitcoins and Paxful that will be able to do this to you. They're p2p exchanges obviously and not the usual "orderbook" layout, but they do not require 2FA to withdraw and they allow anonymous accounts. LBC does have a trading threshold which no one knows exactly about, beyond which you'd have to verify yourself but I don't think Paxful has this requirement.
There's an increasing amount of traders on there that trade with alts as well as fiat, but of course, not going to get the same rates as traditional exchanges that are not p2p.
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So blockchain.com is doing a $125mil XLM giveaway to their users, but they require a KYC to be done to qualify for it. I have seen a lot of people absolutely hate on them for that, what are your thoughts ? Do you think its basically a “Give us your personal info for $25” situation or are they really just doing it for the airdrop not being absolutely exploited by greedy scammers ?
It definitely seems to me like a way to gain customer information off people. Again, blockchain.com seems to be trying to gain more and more control over people's wallets and details without actually getting the users too suspicious about all this that is happening right now. Unless you're 100% comfortable with the fact that blockchain.com will be able to now potentially trace your transactions back to your real name and ID (even though they would definitely claim that would never happen), and you're essentially entered into their records for an undesignated amount of time, then avoid this. It's simply not smart, especially when blockchain.com has not been the most trustworthy entity over the past few months/year. |
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Advcash is in that group of payment processors which are on the edge of shady and being legit (payeer, PM, OKPay, to name a few). I wouldn't recommend them for storing USD funds in the long run due to the high risk of them being shut down by authorities at some stage, and/or exit scamming.
They serve a very specific niche including ponzis, and again facilitates transactions with some pretty shady entities such as forex platforms.
Unless you want to stay anonymous while transacting with USD that you want to exchange for BTC or other cryptos constantly, I would not use them. Even if that's your end goal, I'd still try finding an exchange which allows you to do that without verification. There is just too much risk with storing funds with Advcash given their legal ambiguities imho.
Their only advantages really is that they allow semi-anonymity, crypto exchangers will accept them as a deposit method usually without verification (but with high fees for sure), and that there is no fees for p2p payments on their platform. Other than that, their support is questionable and you're unlikely to have any legal recourse if they ever froze your funds, or get seized themselves.
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Guys not sure if I posted in the right section, I'm brand new. Just want to give yall a heads up if you use this website for sports betting. My account was frozen and I got a message saying After a depth review from our team, we found that your account overlaps information with another account(s) with activity as well.
Now not only have I never made another account, 99% sure I never even misclicked make another account. I am 100% sure I have only made bets and deposited on my account. I only use sports betting , never played poker or even transferred funds to anyone. I have deposited over 35 thousand dollars on this website and have been a loyal customer for almost 2 years. I finally got on a roll and have been winning several tens of thousands and my account is frozen and I havent gotten support emails back after I explained myself. I got nothing to hide as I explained myself in my ticket to them saying I never used or heard of that account number you mentioned. I have this account and wouldent need another account nor try to defraud nitrogen.
I will let yall know what happened. But I just find it fishy after such a long time , they freeze my account once I have a good size bankroll.
All you can do at the moment is to negotiate with NitrogenSports and their admins. I'm sure that they have some sort of justification for this event due to the fact that I've been playing with them for years now, and I've never encountered any problems even with larger sized bets to the tune of $3-5k. If they've frozen your account they probably suspect something going on your end which led to your suspension, it's not just as simple as having multiple accounts. I'd suggest being patient and waiting for a response and argue your case until you get a valid response, if you are sure that you have not abused anything and violated any major conditions. Even if you are using a VPN or proxy, as long as you haven't done anything shady on your end you should be fine after their investigation knowing Nitrogen's reputation. However, this is the risk that you have to deal with every time you deal with a sportsbook with bitcoin. The thing is that regardless of their trust level, there is always some probability that they will selectively scam you by quoting their terms and conditions. That's why I only play with very small amounts with BTC now. |
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Has anyone tried using CoinArbs.info - I believe it is a scam - DO NOT send any money - I deposited some LTC which never showed up in my wallet on the site. One of the reasons I thought it was legit was because of a link to this supposed Bitcoin forum page on their website: https://bitcointolk.org/indexphptopic=5027429_0.htmlIt looks exactly like this forum, even the users posting on this fake page are registered members of this forum - but the posts do not exist on this forum - it took me a while to notice, but the url is wrong - bitcoint Olk instead of bitcointalk I feel a bit stupid for falling for this, but wanted to draw it to the attention of this forum and its users to hopefully prevent other people from losing any of their money. Hopefully I have put this is in the correct part of the site. Please move it or let me know if not. If you see the name arbitrage in the future, just be extremely careful especially if some site tries to offer you an investment opportunity out of it. The thing is that arbitrage is not consistent, it can't offer the same rate of return on larger investments, so there is no way that a site could legitimately offer you that. We've seen countless amount of scams that use arbitrage as a cover story. I'd suggest removing the [url] tag from your post that links to the phishing site as people may accidentally click on it and be misled. Creating a fake forum page like this doesn't really take much effort on their end, all they need to do is modify the text put out there and the topic, really. Anyhow, you've learned your lesson. There are absolutely no magical passive income scheme out there that is legit, and the fact that they are not regulated by anyone despite offering an investment opportunity is just more red flags. Keep that in mind in future as you come across more sites of this nature. |
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Hi there brothers and sisters in crypt
I am a newcomer and want to ask some experienced people for info.
Id like to buy some crypto but dont know where to start...
1. i have to get a wallet-- registered and got one by blockchain.com ---Hold strategy.
as i see in the wallet, i can directly buy, sell or hold there the currency. Is it correct??
Is this wallet OK or there are some better wallets?
there are many different cryptomarkets like kraken and so on-- do i need them or not?
perhaps you have smth else to say to enrich me with information-- i just have no idea what to ask else....
Thank you for your answers in advance.
@ Admin-- if wrong topic- please do not delete but replace into the correct theme topic. Thank you
Depends on what payment methods you would like. I would personally advise against using blockchain.com. They used to be a pretty decent wallet which I and many other newbies at the time used, but right now, they are just not worth using in my opinion. You could use them to buy coins as an exchange, if that's the best rate you will get (doubt it) and the most convenient method for you, but don't use them as a wallet. They have taken a lot of control away from the user, including the ability to use Segwit even though they promised to implement that ages ago, as well as their super difficult process to export private keys which used to be easy. I suggest using localbitcoins as a way of purchasing your coins given that convenience is your most important aspect, and using Electrum as your wallet. Electrum honestly is as good as any web wallet in terms of convenience. If you really want a web based wallet, use coinb.in, greenaddress, coinspace, etc. which gives you ultimate control over your private keys as opposed to hosted wallets which essentially are banks, which you want to avoid. |
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Q1. What are your main reasons for investing on bitcoin? Because I can see potential in the future with bitcoin becoming either a currency which serves a niche at least, or a global standard of payments. Q2. What do you use bitcoins for?
I'd say both for international payments because of its low cost, as well as a means to store wealth in the long run. Q3. Where do you see bitcoin headed going into the future?
A lot more adoption will happen in the next few years on an individual level, with institutional investors coming in to try to speculate on the markets (whether that is positive or negative) Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.? Definitely regulations. Especially regulation which on the surface is seems like some measure to protect investors but in fact is just a strategy for governments to make the process of transacting with bitcoin through fiat more difficult, but thankfully this hasn't happened yet in my country. |
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If the SEC approves their ETF application, then it could certainly pave the way for both regulators and industry companies to understand how crypto fits into the federal regulatory framework. I don't know why people are still speculating on the ETF approval after so many ones that have been denied. I've long stopped believing that the SEC would change their decision and allow these major ETFs to be launched. In the interview, Gurbacs said that VanEck’s bitcoin product would safeguard the interests of investors while preserving the overall benefits associated with digital currency trading.
“What sets our ETF apart is that it’s a physical bitcoin ETF. So, it stays true to the bitcoin you own in underlying,” he explained. “It’s fully insured so if there is any theft, hacks or losses; then the insurance covers it.”
Gurbacs also highlighted how they would protect the investors from price manipulation.
“The pricing,” he explained, “that we use for bitcoin comes from our indexing subsidiary. It is a regulated entity which provided the first financial standard and regulated indices. The ETF is institutional-oriented, so we have a cap of 25 bitcoins per basket.” As they say themselves, the ETF that they are launching is institutional based. Assuming if it does get approved, then sure, investments amounting in the billions would flow in and there could potentially be a major bull market driven by this. But then, there is risk of manipulation within the market with that institutional money which I wouldn't be so positive about. Furthermore, it seems like it would still make more sense for institutions to hold the bitcoin themselves if they were going to invest in a large scale. |
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I don't really see any evidence that the IMF is showing "strong support" per se, all they are saying is that regulation is needed and that there is some potential in crypto that countries need to realise. It's not something that is overly positive news or something that will have an immediate impact, or any real impact on regulations at all. But it is nice to see that bitcoin's potential is being acknowledged by this institution. The report is completely spot on with the fact that bitcoin transactions are global, and instantaneous which is something that banks cannot offer. Now, I don't think that in the future they'll show the same support for decentralised cryptos due to the fact that they are after all, a centralised institution. But I think that's where the potential is. Global, decentralised cryptocurrencies. If governments around the world start regulating these cryptos positively right now, they will reap the rewards of increased tax revenue and investments in the future for sure, but unfortunately this is not happening in the majority of states. |
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has anyone noticed the 'minting' going on at these new stable coin developments? I know this is kinda off topic but, when you check out these new 'outfits' some of the weblinks arent working and it all seems a bit iffy for a multi million / billion dollar operation (i'd say). a transaction here: https://etherscan.io/tx/0x1b5150c6f8d9f2977b69c5898f62d11bd387985c089a39b36b02fc1398094711is reference to a 4mil dollar 'creation' for wallett / address 0x00000000000 Wth is this?? Buying coins isnt smart, creating your own overnight bump coin and swapping it for BTC and ETH etc, creating fake wealth is where it must be at. Can i print Mickey Mouse Dollars and swap them for your BTC? It reminds me of that episode of Bottom where Ediie prints counterfeit notes with a face value of £12.45 (incl. a pic of queen with skirt over her head if i remember right heh) What do you guys think of this? Sincerly, Crypto Amateur What these stablecoins really are aren't cryptos at all, in my opinion. All they are are IOUs issued by a certain company or organisation saying that we promise to pay you x amount of fiat on demand, which firstly is just completely unprofitable for users since they don't get any interest in storing their funds in fiat that they would usually get in banks. But the more important aspect to this means that it gives the central entity which is issuing these stablecoins/tokens a chance to abuse their power and issue more IOUs than there is dollars backing it. Sure, it could work in the short term when everyone has faith in the asset, but in the long run there are bound to be issues with this sort of reserve system, and there is no way for investors to see if the IOUs they hold is fully backed. It is possible that some if not most entities that issue these assets are doing this, but there is no way of verifying. |
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Been approached with sellers wanting to use Novo Exchange as escrow service. https://novoxchange.comTo my opinion this escrow is a complete scam. No company info on the webpage. No company registration. Internet reviews from two different sites who seems to be made by the same persons behind Novo Exchange. Sites contains little or no real other articles other than this positive review of Novo Exchange. https://virtualcurrencyreview.com/2018/03/10/novoxchange/We made a call to the customer support. The guy answering did not know why I was calling. Definitely answered in his home. When asked why they had ha US based phone nr +1 (914) 303-7610 they had no real answer. The company is supposed to be in Sydney Australia. Everything points in the same direction. I would love to be wrong so if we are, please show us proof of the legitimacy of this escrow service. If not, this is currently the only post on the internet showing the truth behind this scam. The strategy they use is that the intermediary wants to stay anonymous or gives bogus info. They tell to put all trust in the escrow service, not him or the seller. Dont know what will happen if you put your money into the escrow but I can make a wild guess. Use with caution. Correct me if I am wrong. No. Don't even use with caution. Completely ignore the site as if it doesn't exist, and stay far far from it. The telltale signs presented by the site here is more than enough to confirm your suspicions, in my opinion. You really just need to look at the fact that a random person you were dealing with somehow just pointed you to this escrow site that no one has ever heard before and wants you to entrust money with them. The fact is that the vast majority of these escrow websites are completely fabricated and scams. They're unregistered, google search of them shows nothing to help their reputation, and the phone number that you called obviously didn't seem right. Good on you on actually taking the time to research before you dealt with them, because you would have definitely lost money. Stick to forum escrows that are well trusted, there are many lists of them available. |
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Wall Street's best-known cryptocurrency bull just cut his bitcoin price target nearly in half. Didn't he previously change his prediction as well just a few weeks ago IIRC? This is just absurdity. Despite his prediction I still don't think that bitcoin would be able to recover that much by the end of the year. A complete trend reversal just seems completely unlikely given the bearish sentiments within the market, and that's not mentioning the resistance that the $10k level imposes which has proven to be hard to break (whether due to psychological reasons or not). I'd just completely ignore his predictions, and all other mainstream media speculators. They're not worth listening to imho, to put it simply. They change their predictions every so often without any basis, and they clearly don't know what they are talking about half the time. |
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