I have started to buy BTC and sell them in a higher price (in BDT). For example, imagine I have purchased $100 worth of BTC @86BDT per USD and sold them instantly @87BDT per USD. This is a good business even if you take 1BDT per USD profit. I was having some good profits each day.
But now after the fee has increased, it has been impossible to get profit. There's a transaction cost which I can not avoid and it is very high. I trade small amount like $50 even (To make a strong hub). In such cases, I have no profit almost unless I'm dealing $300 or over. That's a pain to pay such fee but I have no way because I do not make a bad relation with buyers and sellers.
It's high time for you to move to Lightening Network. Since you trade small amounts of bitcoin, LN will help you to bypass the high transaction cost. There are plenty of LN wallets available for you to use. See below, https://lightningnetworkstores.com/walletsChoos3 the best wallet as per your requirement and you are all set. Segwit can't help here because the network activity has increased due to the sudden surge in price. LN is immensely helpful for small amount trading. You transaction fees will come down to cents. |
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Thank you very much Uneng! I love the designs you made for my business.
Hi all,
This is a vouch from my end for Uneng who created two logos for my upcoming business. I am unable to make it public just as yet because it has not been launched yet. But the professional service that I have received from Uneng, is very nice. He was very prompt in accommodating the feedbacks and came up with a revised version super quickly.
Can't be more happy!
Regards,
Avikz
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Today I bought something nice and I had to transfer the money via my Bank account to a Bank account at another Bank. I used the Banking App on the phone and I selected the "immediate" transfer option. (These types of transactions cost more than the 24 hour transfers at my Bank) I hoped that I would be able to take ownership of the item within a hour, but it only went through 3 hours later.  Just before this transaction, I transferred some bitcoins to my Stake.com account to gamble a bit and the same transaction was confirmed more than 3 times within a hour. A lot of people are complaining about slow confirmations with Bitcoin, but even local inter Bank transactions takes longer than Bitcoin these days. We are not even talking about International transactions between countries, that might even take longer than 3 hours. Please share your experience with transaction speed, compared to Crypto currency transactions.  I am not sure which country you belong from, but if an "immediate" transfer took 3 hours to reach another bank account, the banking system seriously rethink their approach, I believe! Let me present you with some Indian example, 1. IMPS - Immediate Mobile Payment system - It takes less than a minute to reach receiver's bank account. But here you need to know the bank account details of the receiver. 2. UPI - Unified Payment Interface - You just need to know the mobile number linked to the bank account. The money gets transferred instantly. We usually use this method through a mobile app to buy anything from the street vendors or from the vendors at the high-end shopping malls. Unfortunately, it's the inefficiency of your country's banking system, to be honest! |
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Bitcointalk Profile link: avikz
Current amount of posts (including this one): 5059
Amount of EARNED merit in the last 120 days: 37
SegWit BTC Address for Payouts: 36BZZNbqG5Wod2xDFJDqGThuy8cH9NTs8D
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I've sent you a personal message. Please check.
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Applying in case any position opens up for signature campaign!
#Authentication Post
Type of campaign: Signature
Bitcointalk Username: avikz
ERC20 wallet address: 0xA082686a7B130a9E9E632EC810d0136F23d464e6
Signature will be changed if accepted!
Reapplying for the month of August. |
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While coinbase has done great in this particular incident, but you have to look at the flipside as well. A central business authority prevented users to use their own money for whatsoever reasons. For this incident, Coinbase deserves a thumbs up, but in general, someone else controlling your money in a nutshell and they have the power to decide when and where you can spend your own money!
Not being pessimistic but that's the reality.
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Mike Tyson is a legend - no doubt about it and it's a big news that he is coming back to ring again. This news is exploding in various medias already I can see.
But in this particular fight, my favorite is Roy for obvious reasons. Roy fought his last match in Feb 2018 and Mike fought his last match in June 2005. In recent experience, Roy is far ahead of his competition here.
In boxing, agility and fitness matters the most than experience! Roy is definitely ahead of Mike!
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I can stop playing gambling whenever I want because I know that in gambling, the emotion will take part, including greediness, because of winning the games. But maybe that can help other members who need help from the escrow agent or members who use too big money to gamble. Make sure you can select the recommended escrow agent to handle your money.
Not all people can control themselves just like we do. I can also limit myself from those overspending of money in gambling because I only see myself releasing my stress to it. Escrow can really help a lot of gamblers who are struggling overcome their addiction. I don't really believe in the idea of "you can stop gambling immediately" without even looking for another source of entertainment or someone/something that will hold your money. Obviously if you are a gambling addict you will not control yourself easily from spending another money. So I think, escrow will guide most of those gamblers to stop and prevent themselves from wasting huge amount of money. No it work yet you know that you can alter out your decisions from time to time and since you do know that you do have still money left on your stash then you will probably using it up and claim it for you to use. This is why its somewhat useless if you do have this kind of arrangement on where you do look up for some escrow to hold up your funds.Just like what others mentioned that this kind of service is not needed. You do have the full control and if not then you will surely learn up from your mistakes as simple as that.Also you would need to pay up for such service which do really sucks. Just think of a way how to control these emotions. I know it is very hard but I think it could be helpful to see other things that might alter your interest and to minimize your addiction in gambling. In my case I have my pet, a dog and usually I need to take care of it so my time couls easily pass by hanging with my pet. This has been able me to minimize the addiction though in gambling. I had also seen that my resources are being save due to the loss tha has been minimized and put to good use as my wife suggested. Happy to see those things that made me realize that addiction is really a problem when it will be gone to worst. That's really nice to know that you are able to control your emotions related to gambling. But not everyone can do that because not everyone has a metal ability to do that! The same goes for any other addiction like smoking or alcohol. My grandfather used to be a heavy smoker during his mid 40s and he stopped smoking in a day's notice. Never went back to smoking again after that because he had supreme control on his emotions. He had to go through medical help due to the withdrawal symptoms he was facing but he did not loose the control on his mind. Not everyone is privy to such control over their own mind. I think what OP suggested is a wise idea but having outsider escrow is a bad idea. In this case, someone senior in the family should act as escrow. It will ensure the control as well minimize the chance of loosing the money due to fraud/theft! |
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Okay so months ago, we thought that they're all set to lay down the axe on Bitcoin and cryptocurrencies in Russia. But right now, lawmakers have passed a bill to legalize cryptocurrencies in their country. However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc. Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-billAny reactions so far guys? I have been seeing this news since last 3 days in my Google news feed from various sources. It seems like Russian lawmakers are thoroughly confused on their actions on cryptocurrency in general. First they thought of banning it and now when they are realizing that it's beyond their control, they are trying to regularize it! But yes, I generally don't believe any news coming from a communist country where media doesn't have right to speak freely! Regularizing cryptocurrency but not recognizing it as a payment method, makes little sense to me! Probably they want to map the group that is using cryptocurrency first and then wrack havoc on them to ban the cryptocurrency from the country. Communist countries can take such extreme measures to be honest and can go to any extent without looking at human rights. Extreme caution is advised! |
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Pi network started back in 14 March 2019. 5 million user within less than 2 years, is a big number. However, they have not yet listed their coin in exchanges for some unknown reason. 2 years of mining with no return doesn't look good and less attractive.
I too have earned few thousands of pi token from my mobile since last year but I don't know what to do with this since I can't sell those off.
Do you have any idea when they will be listed in an exchange?
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Crypto is praised as currency of future, 100% secured way of transaction. my question is how?
-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.
-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.
So how is this a currency of future, did anyone asked these question before?
Well, you are talking about the security from a different perspective. It's not really the security of transaction you are mentioning here. It's the security of passing the ownership only. Yes, bitcoin transactions are not reversible unlike banking transactions. It is because bitcoin is not controlled by a central authority. So if you have sent out a transaction mistakenly, there is no way to get it back unless the person refunds that through a separate transaction. The kind of security you are mentioning, is already available in the current banking / legal system. Bitcoin can't be compared to them because it is quite different structurally. If you want to pass your bitcoin holding to your next generation, simply create a will with your private key and keep it under safe custody with a process map to redeem the money. Probably that will help! |
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There are two parts of the story. One is good and another one is bad. Let me explain in details,
The good part:
1. Crypto will become mainstream with banks offering crypto services.
2. Stores and merchants will be interested in accepting cryptos as a medium of exchange
3. Increase in credibility of cryptos
4. Chance of indemnity in case of a hack
The bad part:
1. The banks will have information about your crypto holding and your KYC data
2. Your crypto holdings will be reported to IRS periodically
3. Banks will control your crypto holding so you will essentially loose the control over your own money that you used to enjoy earlier with your own private key
4. Nothing you can hide from the government if you opt for crypto banking service.
So choose wisely before you cheer about it!
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Betking scammed me for $700. There's no way they have 11 million to spend.
Or your $700 might have already formed part of that $11 million. And because they must have scammed a good deal of people, they have already accumulated that huge amount to try to build back their image in the crypto gambling industry. Which is futile. The ghosts of the past will haunt them no end until appeased. And for Kenya Football Federation, they better ask for the check and have it cleared first before going any further with the deal. That should be the only way to deal with BetKing. Better safe than sorry. Here is casino is betking.com and not betking.io. I understand your confusion because I had the same reaction when I first looked at the news. Betking.io is a scam website and if you check their reviews, you will see stories from people who have been scammed by them. But Betking.com seems like legit sports betting operator. Even though you can see some scam acquisitions for Betking.com as well, but mostly the reviews are positive. If you have read the comments above, you could have find out that the sponsor is Betking.com and not Betking.io! |
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Cloud mining = Ponzi in disguise = Method to scam people = Not allowed here!
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Deception in the guise of Bitcoin is spreading. The most recent and most extensive case is through hacking of a number of famous celebrity Twitter accounts on Wednesday, July 15, 2020. Hackers offer a Bitcoin giveaway from those accounts. So, what are some ways to protect yourself from this mode of crime?
The perpetrators may launch social-based attacks (social engineering) against Twitter employees. Hackers access Twitter's internal systems and devices, and thus successfully tweet the Bitcoin giveaway.
For example the Kanye West account which was also hacked. The famous US musician is "tweeting" he will duplicate the Bitcoin sent to his Bitcoin address. With common logic, it is unlikely that anyone would give free money in the form of Bitcoin, without any veiled intentions.
No one will give you free money, not even Bill Gates. If it sounds too sweet, then it's certainly not true, especially in cyberspace.
It's very basic intelligence level you require to save youself from such type of scams! No special education is needed here! Just think - why would someone give you free money?? Why would anyone want you to get rich by downloading some software?? That's it!! Problem solved!! I feel pity for those who doesn't understand such basics of life! |
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I am not surprised. Even more and more people know what is bitcoin and have already heard about blockchain technology. During lockdown a lot of people have played a lot in online casinos just to spend some funny time  However I guess that this is just a drop in the ocean. More and more gamers will be part of this revolution, it's just matter of time True! Online gambling operators are seeing a surge in volume due to the Covid induced lockdown! If you have noticed, bitcointalk also seeing a surge in online crypto related casino advertising. Many new signature campaigns have opened up at the same time. That's really a good news for the crypto market and regular gamblers because now they don't have to go out to get some adrenaline rush! All can be enjoyed at home using cryptocurrency. |
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A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas, basically the scammers offered the victims a percentage of their mining profits if they invested with them only to be discovered later that no mining took place. Do you think his punishment is fair? Those people scammed so many people out of their savings in something they knew was fully illegal and yet the sentence is incredibly light, how many people have seen their future crumble just before their eyes or even killed themselves over this. While it is nice that at least a scammer has to face the justice system at the same time I am disappointed by this short sentence. What do you think of this? https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities2.5 years of prison time for involvement with 249 million worth of scam!! That's hilariously laughable and makes zero sense. Here the prison time should have been much much higher so it could serve as an example for the wannabe scammers! This minuscule prison time will actually encourage the scammers to continue with their scam business at full speed! Because now they know that there won't be severe punishment even if they are caught by the enforcement agencies. Disgusting! |
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No and never! If IPs are stored, then bitcoin wouldn't have been used for illegal things! But it's not! You can get a good idea of what is stored in bitcoin block from the below article, https://www.investopedia.com/terms/b/blockchain.aspIt says, - Blocks store information about transactions like the date, time, and dollar amount of your most recent purchase from Amazon. (NOTE: This Amazon example is for illustrative purchases; Amazon retail does not work on a blockchain principle as of this writing)
- Blocks store information about who is participating in transactions. A block for your splurge purchase from Amazon would record your name along with Amazon.com, Inc. (AMZN). Instead of using your actual name, your purchase is recorded without any identifying information using a unique “digital signature,” sort of like a username.
- Blocks store information that distinguishes them from other blocks. Much like you and I have names to distinguish us from one another, each block stores a unique code called a “hash” that allows us to tell it apart from every other block. Hashes are cryptographic codes created by special algorithms. Let’s say you made your splurge purchase on Amazon, but while it’s in transit, you decide you just can’t resist and need a second one. Even though the details of your new transaction would look nearly identical to your earlier purchase, we can still tell the blocks apart because of their unique codes. Hope this clears up your mind! |
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where no third party has a hand and there is no chance of losing money.
I wouldn't go that far though. A lot of people have lost money getting their funds stolen one way or another. Also, I'd like to know where you got this number: Bitcoin is accepted by more than thirty thousand organizations around the world like WordPress, Microsoft, Wikipedia, Overstock.
The reason people have lost money is not due to security flaws within bitcoin network or payment system! People have lost money because of hacking incidents which can happen with your banking account as well. It doesn't have anything to do with bitcoin really! Bitcoin indeed is the most secure payment system in the world. There is no doubt about it! For the second statement of OP, I think the number is imaginary. I am able to find a resource which says around 15 thousand business establishments accept bitcoin. Read below, https://www.fundera.com/resources/how-many-businesses-accept-bitcoinHope this helps! |
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