I know that at first sight, it looks dramatic. BTC's price is down by more than 25%, but guess what, the number of daily transactions is down, and so is the backlog of unconfirmed transactions. People are holding! https://blockchain.info/charts/mempool-sizeIt's true that BTC's price has reached an unexpected height those past few days, and that a correction was due, but data shows there's no panic selling. BTC remains strong. |
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yep, 400,000 wouldn't be possible without Segwit transactions, even if they're still only a small percentage (4-7%) of the total.
The closer we can get to 100% Segwit transactions, the closer we can get to doing 700,000 or 800,000 transactions per day. Please try to use Segwit addresses, and use services that let you pay to Segwit addresses.
Very true, those 400,000 transactions per day would have been impossible last Spring. I guess we have to say that SegWit is working. And there's more to come, when more services will use it. |
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Regulations are local. It doesn't matter where you are, what matters is where you want to do business.
You may start an exchange in the Caribbean, or Japan, but if you want to do business in the US, or in the EU, you will have to comply American or European regulations.
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I thought it was impossible but it happened 4 times already: https://blockchain.info/charts/n-transactions?timespan=30daysForget the price rise, which is speculation, but the rise in the number of transactions per day is a sure sign that BTC is winning. And that, despite a huge number of unconfirmed transactions, and sky-high fees. I guess the price will keep on rising... |
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Besides legal requirements, you shall also worry about security. If you're in Texas, you know that quite many people have guns out there. Once it will be known that you have cash and BTC at your disposal, you should prepare for the possibility that someone puts a .44 to your head, and asks for ALL YOUR BITCOINS NOW!
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I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.
Many other African countries have strict currency control.There could be others banning BTC.
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Switzerland has changed a lot. Their banks aren't what they used to be. They've joined the AEOI club, sharing all your financial data with tax services of more than 100 countries. And my bank account which was free, now requires a 25 CHF monthly fee because of my foreign residence.
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Poloniex requires email confirmation before any withdrawal. So you're quite safe, but if I were you I would not share my account with anyone. I know I won't ever do that.
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Testing the waters. I'm in currently in Montenegro and I wonder if there could be people (like me) who would be interested by virtual office services in this country. BTC accepted of course. Montenegro is a very interesting country when it comes to tax, that's why I'm here, and I'm not the only one.
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Don't think about BTC.
Selling properties, stocks or cryptocurrencies are mostly the same to the taxman: they're capital gains, taxed pretty much all the same, besides your family home.
The best BTC countries are tax havens (think small islands...).
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Investing in real estate means buying property through a notary, and then paying property tax.
If you can't walk in and say "this is mine", you've got nothin'.
Gold's like that, too. If you don't have it in your hand, you've got nothin'.
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A legal BTC-friendly environment is one little part of the problem. I see many people have replied Japan. I say maybe, but if you aren't Japanese and if you don't speak Japanese, you'll find Japan a pretty difficult place to start a business.
You should also ask:
What country makes it easy for a foreign investor to start a business?
Does the country follow standard accounting?
How much reporting is legally required?
Can it be in English? Can it be done online?
etc...
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I can't imagine any exchange processing withdrawals manually.
The delay could be a safety measure. Some services send an email or a text before each withdrawal, with the suggestion of freezing the account in the case the withdrawal not having been ordered by the legitimate owner. So the delay could be to check there isn't a request to kill the withdrawal. I'm not sure of this, though, it's only a suggestion but don't give too much consideration to those 5 minutes.
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There's something fishy about this. The Iranian source is here: http://ifpnews.com/exclusive/iran-preparing-infrastructure-bitcoin-adoption/and it says: “Arrangement are being made with the related organizations to put together the infrastructure as early as possible.” I don't imagine what those organizations are. Nor what is the infrastructure. Even setting up a network of nodes doesn't require much. Or do they want to get into mining? More information is clearly needed. |
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I don't understand. If you change to €, did you effectively paid some 20% tax of the value of what you imported?
I don't see the 2.99 relation between € and BTC. I guess that if I were you I would go back to the customs office and ask for more information. To the best of my knowledge, no European country has any regulation regarding BTC. So, could they have mistaken BTC for another currency?
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I've tried a few times with private sellers, and none accepted. I'll keep on trying...
I've read on this board that some people did, though. In the US, I remember.
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Did HSBC knew the transfers were BTC-related? I guess it was some kind of software which blocked the account. That happens if you're on a fixed salary, with a sudden large transfer from a foreign unknown source. The software says it's suspicious and a human is necessary to sort things out.
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I'm not storing my coins. All are on orders, or on loans, and I've never had any trouble with any exchange so far. On Poloniex, when I look at my trade history, it's more than 100 pages, without any trouble. Well, I remember their server went down a few times, but I know those things happen. I've also bought many cars at copart.com which many, many people say it's dodgy, but most of the time, everything has been fine for me. There's risk in every business, and I guess you shall not be afraid of some people complaining on the web. You just need to test a service for a while a first. My first time at an exchange, I go with $100. I'm doing a few trades, get my coins back, and if everything went fine, I invest some more. Note also that I'm using 3 exchanges (well, Bitstamp also), I don't put all my eggs in the same basket...
I've had nothing but good experiences on Poloniex, and I also realize that no service is perfect so it's not the (now aging) outages that concern me. What concerns me about Poloniex is their total lack of communication around the outages. If they would have simply recognized the outage, communicate status updates, and even go further to provide updates on upgrading their support group... then I'd feel more comfortable keeping my coin there. There's also the fact that after 5-months I've yet to have my account verified; that tells me they either don't care or running on the bare minimum staff. You may stay forever with an unverified account. I agree the daily withdrawal limit can be a problem, but it isn't if you're a long term investor. @richardsNY I don't think about the Bitfinex hack anymore. It happened more than a year ago. |
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People are crapping on the Americans - but the thing is Bitfinex is dodgy. Their mysterious hack for example. It's no wonder the American regulators started asking questions.
Wasn't aware of that. I thought Bitfinex was doing that from its own initiative. Do you have any link to this request from American regulators? I don't see Bitfinex as dodgy. No more than Poloniex or Kraken (I have coins at all 3). All three seem to be poorly mismanaged exchanges. The common denominator is the countless complaints here and elsewhere on the world wide web about account access being denied or limited. I’m surprised you’re relaxed about keeping coins in these three exchanges. Storing coins in any exchange is too risky these days. Arbitrary and random account blockage are too scary for me to contemplate or experience. I don’t mind if they take their sweet time verifying an empty account but if they restrict access to coins stored on the account, that’s the painful bit. I would have sleepless nights worrying about those coins. Uncertainty is never a pleasant thing. I'm not storing my coins. All are on orders, or on loans, and I've never had any trouble with any exchange so far. On Poloniex, when I look at my trade history, it's more than 100 pages, without any trouble. Well, I remember their server went down a few times, but I know those things happen. I've also bought many cars at copart.com which many, many people say it's dodgy, but most of the time, everything has been fine for me. There's risk in every business, and I guess you shall not be afraid of some people complaining on the web. You just need to test a service for a while a first. My first time at an exchange, I go with $100. I'm doing a few trades, get my coins back, and if everything went fine, I invest some more. Note also that I'm using 3 exchanges (well, Bitstamp also), I don't put all my eggs in the same basket... |
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People are crapping on the Americans - but the thing is Bitfinex is dodgy. Their mysterious hack for example. It's no wonder the American regulators started asking questions.
Wasn't aware of that. I thought Bitfinex was doing that from its own initiative. Do you have any link to this request from American regulators? I don't see Bitfinex as dodgy. No more than Poloniex or Kraken (I have coins at all 3). |
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