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4221  Economy / Economics / Re: Know Your Customer on: October 09, 2019, 02:43:32 PM
I can't count how many time I submit KYC for trading exchange market and many airdrop, bounty and ICO investment. I don't know about my KYC data is safe or not because I have submit with thousand kind of project real or not for keep our identity and never give our ID for something else to other people and other company.
It is your responsibility to double check all the information of a project or an exchange before your submit any of your documentation about your identity. Submitting a KYC documents is easy and fast but you should also consider the risk of submitting your identity information to someone so I hope that this will served as a lesson for you to double check all the background information before trusting them with your personal information.
The more he submit his KYC verification to all those websites the bigger the chance his data is leaked somewhere else in the internet. Maybe submitting data to an exchange that is already regulation under the government is safe more specifically if the exchange has never done anything wrong with their business but submitting kyc for an airdrop I mean for real? even the developer themselves are looking to make an easy money through airdrop there's a really huge chance that they are doing the aidrop just to gather data as much as they can and sell it off in the darknet. People just really need to be aware, their data is as valuable as gold nowaday.
4222  Economy / Economics / Re: Hong kong and China war can lead to possible Bitcoin popularity on: October 08, 2019, 04:40:24 PM
Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)
Take a look at the regulations recently issued by the Hong Kong government regarding protesters https://www.theguardian.com/world/2019/oct/07/hong-kong-protests-charges-anti-face-mask-laws
fask mask ban! can you believe it? I think the Hong Kong government is doing various ways to stop this wave of protests. but that step didn't seem to work, the wave of protests grew more bigger!
Well you can't extinguish a fire by adding some more fuel it's as expected if the government is more harsh to the protesters it will definitely grew bigger.
Rich people want to launder their honestly earned money with the help of bitcoins, this is expected. It is bad of course that everything is not calm between them, I hope everything will calm down without the use of excessive aggression. Nevertheless, we have nothing to do with it, except following the news.
I've heard some of hongkong's rich people also leaving the country to migrate into some of europe country by investing there and get some kind of permanent residence but I guess bitcoin is also one of the option when it comes to saving money. i can personally justify it if the danger of chaotic economy is near.
4223  Alternate cryptocurrencies / Altcoin Discussion / Re: characteristics of fraudulent projects on: October 08, 2019, 01:10:46 PM
For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.
as I know project trying to gather the funds using ICO is to realize or make an execution to their idea and thus resulting in a working product, maybe some of the projects out there are already having a working product even before the ICO being announced but it's still not right to judge a project as a fraud just because of not having a working product while the sole purpose of creating an ICO is to gather fund.
Maybe it's better to judge them by whether they are following their roadmap or not, although there are some other factors aswell.
4224  Economy / Economics / Re: Bitcoin has no practical use and could be damaging to the economy! on: October 07, 2019, 09:44:09 PM
What practical use gold have.Gold input cost more than input of bitcoin
You can"t forget that  there is blockchain behind bitcoin .Disruptive technology what will be used by Microsoft even
We have more and more services what allow to pay with bitcoin
And Bitcoin is only 10 years old.Where was internet after first 10 years
If Bitcoin can hurt economy then what kind of economy it is.
Actually bitcoin will hurt the economy, in terms of not recorded spending and actually no tax at all. Bitcoin will delete the middle man which is the banks and government, so yeah, the bitcoin will hurt the economy but it will let people be free in tax that is given to the government. Let's just face it, bitcoin have pros and cons.
Government can do something about that tax because just like in the US, their government request the cryptocurrency investors and traders to file their tax in cryptocurrency and I think if the other countries can also do that then bitcoin and any other cryptocurrency will not hurt their economy and in fact, it will help them to boost their overall economy.
even if I don't spend money with bitcoin I could still avoid taxes you know when we are reporting or filing our tax we are just being asked about how much money we get and therefore the obligation to pay certain amount of money for taxes will be given to you but the government doesn't really know how much we get aren't they? it's all the self consciousness of the people again. Even if I could avoid taxes but I never would because I just want to contribute to the country by paying taxes and there's nothing wrong with that. Even many countries right now already trying to implement a new way of taxation for people using crypto while also already concluding bitcoin as one of taxes object.
4225  Economy / Economics / Re: Europe is against Libra. Who else? on: October 07, 2019, 03:16:53 PM
Mark Zuckerberg was called for questioning just recently as well, which means even USA is against Libra and it is something that could be used to bring cash from other countries to USA considering Facebook is an american company, so them profiting globally would equal to global profits going inside USA and even with that fact USA still doesn't want something unregulated and uncontrollable to be used in USA.

So, all in all Europe is against Libra, USA is against Libra, China is against Libra. There is no point on keep working on Libra if you ask me, these guys will not be able to go over the legal parts of financial world let alone be used by everyone around the world, I doubt they will continue with the project, closing shop on Libra project is their best course of action.
Also usually third world countries tend to follow the decision of first world countries and that could mean even more problem will be coming to Libra. Even by the withdrawal of all the major investors from Libra could be a huge backlash that could potentially cancel this project.
I'm not expecting anything from this project anyway, it won't even benefit the crypto community even at the slightest but just the hype that could make crypto well known other than that there's literally nothing and also it's centralized.

Maybe making crypto that is adopted by the masses is just simply a wishful thinking considering all these regulation even a big company like facebook could literally do nothing.
4226  Alternate cryptocurrencies / Altcoin Discussion / Re: Do not trust New wallets with your fund on: October 07, 2019, 01:22:17 PM
OMG. When do these people understand the risks of holding the crypto holdings in the crypto exchanges?  The news services and crypto forums are full of security fraud complaints due to the tricky social media engineering, hack events by the scammers-hackers. The struggles are real and purchasing the hardware wallet is a feasible solution, in this case, the scammers know how to take the money out of people's pockets.
Purchasing a hardware wallet is not really a feasible solution if you got a limited money otherwise it's still worth it but it seems that people will never stop putting their money in the exchange for a long time because they think this is the most convenient way to save the money while in reality it's the best way to lose your money when the security breach happens.
All the news about exchange being hacked and can't provide reimbursement seems have gone to nothing because people are just too ignorant and careless to realize that it's their money that is at stake.
4227  Other / Archival / Re: Is KYC benefit to crypto people or not on: October 06, 2019, 04:12:40 PM
KYC become your big mistake if using on bad exchange market website or your joining on bad airdrop but submit your KYC data, if you use for big and good exchange like binance to increase your limit withdrawal is fine for using your KYC data, but when you found airdrop and sumbit KYC with lower reward its your big mistake.

Even big exchanges like binance, I would still not submit any personal information of mine, KYC is still KYC, I don't trust other people no matter how much billions they have on their wallet when it comes to my identity. The reasons why we don't trust someone that easy is because:

* We don't know them
* We know them

What scares me the most is that they are rich people, they have many underlings that serves to them, you won't know where they are really going to use their customers data by submitting KYC, you could call me paranoid, but I only trust myself.


Definitely understandable and not refusing to submit your ID is your right aswell. Data is now the new gold and so many people or companies are trying to gather as much data as they can and your govt ID, passports and many more is as equal. However if it's a big exchange like binance i can somehow tolerate. However if it is an unknown company that demands my ID I will definitely not give it out because that's just too dangerous.
as I've seen so many company that are based on technology always got some sort of data leak and that's really a huge loss for the customers even my data was once leaked over darknet. If there's an option not to submit, I will definitely not submit my ID carelessly.
4228  Economy / Economics / Re: Hong kong and China war can lead to possible Bitcoin popularity on: October 06, 2019, 03:09:52 PM
Hong Kong and China have faced war more than three weeks with big effect for Hong Kong economic, the Hong Kong people want to have their own law and never interrupt by China, but do not have anything effect for bitcoin because both country China and Hong Kong have banned bitcoin last two year and do not re submit for accepting bitcoin back.
Not exactly banned tho in hongkong they are just making the rules a lot stricter than ever because they have no control over the situation in the crypto market. as I've seen there are plenty of developers residing there therefore it will kinda be hard for the local government to ban some of their source of income I guess which is the funding through some sort of ICO or IEO but in china it seems that bitcoin just have no hope there.
However if bitcoin is being used to launder money of hongkong's citizens that'd be a bad news imagine what will all those government says about bitcoin when the war comes to an end.
4229  Alternate cryptocurrencies / Altcoin Discussion / Re: Are you worried that France and Germany agree to block Facebook's Libra? on: October 06, 2019, 02:33:26 PM
Not really, even Libra is cancelled it won't even bother me as it is basically the same as other existing centralized crypto like all those stablecoins alright? the difference is only because Libra issued by massive corporation that has a really huge capitalization and therefore making people feeling excited about it while it's actually just repeating the same cycle that already existed.
It seems that if France and Germany really agree to block libra, visa and mastercards which thinking about reconsidering the decision of investing into Libra might back out.
4230  Alternate cryptocurrencies / Altcoin Discussion / Re: Will crypto really go to zero? on: October 06, 2019, 02:02:28 PM
There 0% that it will happen because a lot of companies are already using the tokens , money transfer for example and banks that ate already using the coins, so thinking that it will come will be no chance, besides the government is already trying to study and I think they will also join the crypto sooner or later, with that being said crypto might probably go down but to zero thats impossible to happen
That's just a wishful thinking, even the government is somehow leading the people to believe that crypto is being used for criminal activities and banks are only using the blockchain technology and not the product of that technology which is cryptocurrency. There's still a chance that crypto could go to zero but it's a slim chance or hardly happen unless the blockchain technology is falling apart or can't operate anymore therefore all transactions stuck and there's nothing people can do because it's basically worthless and I guess that's not going to happen anytime soon.
4231  Alternate cryptocurrencies / Altcoin Discussion / Re: Paypal to leave Libra on: October 05, 2019, 10:24:06 PM
I believe it should have happened sooner or later, because in my eyes Libra is a direct competitor of Paypal. Libra wants to achieve cross border payments without time and place restrictions based on blockchain technology.  The same things does paypal but in a centralised way.

Then why did PayPal join Libra in the first place if it's their direct competitor? And why did all the other payment companies join Libra, if it is supposed to disrupt them?

I think they all wanted to work with Libra for better interoperability, Libra could have been a big middleman for multiple payment networks, but now that it was blocked by regulators, its backers don't want to be associated with it, it becomes a serious risk.

Also, Libra isn't decentralized alternative to companies like PayPal, it has KYC and central authorities, so it's really not that different.
It's like the saying if you can't beat them join them. In the world of business as of now there's no such thing as direct competitor if you can invest to them and get the profit aswell. The only reason paypal leaving is because the regulation backlash and that is really understandable and I do agree as you said Libra is not decentralized by any means it is obvious that Libra is centralized. The whole thing works just like USDT or TrueUSD it's a crypto with blockchain but owned by a company and the company have the authority to do literally everything to the coin because they are the reason why that coin have a value.
4232  Alternate cryptocurrencies / Altcoin Discussion / Re: Fee-less cryptocurrencies...Are they the future? on: October 05, 2019, 10:03:33 PM
They are fast and all until the mass adoptin hits, the blockchain becoming so crowded and they will face scaling issues. Bitcoin back in the days used to be really fast and have a really cheap fees even so many people saying that bitcoin's fees is a lot cheaper than sending from paypal or bank but now that the blockchain is really crowded everything become slow and the fee sometimes rising up so much. Therefore, I won't say that they are the future until they have gone through the mass adoption and see whether there is a problem or not otherwise their blockchain will be left untested and could potentially have a problem when the mass adoption hits.
4233  Alternate cryptocurrencies / Altcoin Discussion / Re: Cryptocurrency to be used in Money laundering and Terrorism? on: October 05, 2019, 09:47:56 PM
The government will never accept something that's out of their reach or that has no control to be a global money, just move on with that dream. These issues about criminality that tied up with cryptos is just an issue after all, onle really few cases found when criminality involves the usage of cryptocurrency.
After all, there's just no chance for crypto to be a global money if that's what you expected, even currently there's no such thing as a global money.
However, I do support the government only if they are really trying to fight against terroism funding and Money laundering properly by having regulation to prevent so other than blindly put the blame on cryptocurrencies which is rarely used for such a thing.
4234  Economy / Economics / Re: K-POP Company owners are joining the train hype of Cryptocurrency on: October 05, 2019, 06:27:34 AM
Will definitely bring a major impact the the artist under the SM entertainment and that includes the KPOP fans aswell, but not really for the world wide. Maybe it's just their last effort to save their company from bankruptcy. I haven't followed the news about this company but it seems that they have some kind of urgent circumstances and facing a big problem that forces their investors to withdraw from the company and the company itself the capital to keep on mantaining its operation. If this become a success for the company, I'm pretty sure that the other company that works in the same field will follow the strategy and then basically there'll be a crypto specialized for KPOP I guess.
4235  Alternate cryptocurrencies / Altcoin Discussion / Re: What is happening to new projects? on: October 03, 2019, 10:26:59 PM
Many new projects that end up failing, it is caused by the collapse of bitcoin so far that altcoin which is a platform for a project cannot survive and die with its syndicate, but if a new project is good it will not die at any time especially if bitcoin rises, because the project It's good to have a clear vision and mission. Have a team that is responsible for maintaining their coins. You have to look back at what should be a good project.
actually bitcoin have nothing to do with the failing of many project, if these projects are failing just because bitcoin is being dumped that means the project is bad and has no independency towards their own price whatsoever and that's not worth investing, it's basically like a natural selection.
If the project is good it will definitely hold on despite bitcoin being dumped, there are plenty of good project that just do that you can see yourself in CMC and those project aren't failing because their price is not too relying on the market situation.
4236  Economy / Economics / Re: Crimes involving crypto have risen on: October 03, 2019, 07:06:08 PM
The popularity of bitcoin is now on the top right? Those criminals are have the idea that they can use bitcoin as their payment method because they knew that it is untraceable. I hope those whose on the top that manages the reputation of bitcoin would do their best to get red of those criminals that using bitcoin for their bad doings.

Crime people prefer to use high anonymity cryptocurrencies, and Monero is their beloved crypto. Dash and Zcash are also in this list of "crypto favorites". Therefore, not Bitcoin but these altcoins, known for their high degree of anonymity, are used by criminals for the sale of drugs, weapons, terrorist financing, and other crimes. However, the percentage of the crime use of crypto is very low.
Now every exchange where people used to trade their privacy coin is starting to delist any privacy coin it seems that they are running out of space to trade.
The concept of privacy coin is good but if it's attract more problem and criminality then I guess it's better to be removed more specifically if used as a way to do things you mentioned above. If it's what it take anonymous coin should be removed, just like in korea they are starting to do so.
4237  Alternate cryptocurrencies / Altcoin Discussion / Re: Libra the new crypto king on: October 03, 2019, 12:36:56 PM
You can give proof why Libra become king coin? how serious build by Libra so far with whitepapee, libra team and how many time they have make meet up with investor to publish what the advantage of investing in Libra coin, I just give opinion about Libra because last year have been to the public issues but still not have anything right now.
It's basically just overhyped stablecoin and definitely not a crypto king. Imagine calling a coin that's established by a big company like facebook which they have full control over it a crypto king that just doesn't suit well. There's no such thing as crypto king other than bitcoin itself and Libra will never be a crypto king because that's just an utterly bullshit and Libra can't even get past the regulation and keeps on being delayed.
Libra is selling like a hot cake only in early stage where it got investors from left and right just because it's a big company and not because the coin's revolutionary idea which I find it none there. just overhyped garbage in short.
4238  Economy / Economics / Re: Hong kong and China war can lead to possible Bitcoin popularity on: October 02, 2019, 09:54:18 PM
Almost one month China and Hong kong faced war and still not have positive respond for bitcoin, still lower price bitcoin today and hope Hongkong and China better to give freedom for Hong kong.
Bitcoin price lowering doesn't mean the popularity is decreasing, the current price dumping is I assume a price manipulation from a big player while the bitcoin popularity in HK might or might not increasing. However, I actually don't see the Hongkong and China right now could affect bitcoin at all.
They just don't have correlation and I don't think just because of some riots people would transfer or convert their money into Bitcoin even the foreign investor I assume will just take back their money through conventional way and there's no need to risk their money to bitcoin and got side effect like volatility and complicated thing they need to face if they really want to use bitcoin as a means of transferring huge sum of money. At best, some minor people will try to use Bitcoin I'd guess they won't take it into that far making so much people transferring money using bitcoin.
4239  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Digitization of National Currency Bring value to African Currencies? on: October 02, 2019, 02:56:58 PM
Country  like  Ghana  has  a lot  of natural  resources  yet  every  year the nation do their  Budget  in USD. Investor  traveled to  Ghana   and  buy their  resources with USD. Which  make  the national  Currency  got  no value. Do you think if Africans develop and adopt their own  digital Currency it can bring Change  and value  to their local Currencies?
It's just can't happen to imagine digital currency to replace national currency considering it's in africa where it's always difficut to implement something about technology more specifically is a digital currency. Digital currency only suitable for country with no problem when it comes to digital world and no offense but I don't think africa has reached that point yet, it's still need to fix or distribute their internet connection evenly.
It's not that the digitaztion of national currency will bring value to african currencies it's just not the right time for african country to switch into a more digitized form of currency which is digital currency. It's better to fix the foundation first before building even further.
4240  Other / Archival / Re: Is KYC benefit to crypto people or not on: October 02, 2019, 01:10:10 PM

KYC is killing the privacy and freedom of using cryptocurrency.
Using cryptocurrency, people have control over their privacy instead the KYC is destroying that. 
The people have no benefit to KYC rather Governments and companies that are enforcing the KYC.
I agree with you. KYC is not good , we cannot know if they are having a secured database we cannot know if there will be a time that they will be having a data breach. Also it kills the anonimity of bitcoin users which is one of the reason why there are so many bitcoin supporters.
The anonimity has long died, everywhere you want to use your BTC they usually tend to requires you to verify your identity first by doing the KYC procedures and that will goes on accompanying the government's effort of Anti Money Laundering.  However, KYC in my opinion is not that bad only if the government officials provide their service to every company that requires their user to do the KYC verification rather than letting all those third parties did it or even worse the company that you don't even know who is the owner doing it independently.
It's not like that the government is trying to make everything complicated but they have no other choice to prevent money laundering since all the bad rumours about bitcoin being used for evil things which infact is pretty rare is already on the mind of the people inside government.
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