Has EQIbank been established and is operating or still in the project? if it is not already operational, then there is one more project that has obtained a license before EQIbank, it is World Bit Bank, they obtained a license in February 2018. You can see it on the website https://wbb.ioI believe Eqibank is already licensed as per the claim on their website. However, I am unable to see any proof as such! On the other hand, I see WBB ICO is still running and the license number is mentioned in their website! While investigating further on the given license numbers, I see the WBB is not at all licensed as a Banking organization! Instead they are licensed as a "virtual currency wallet service" and "Virtual currency exchange service", but not as as Banks! Check the below links, https://mtr.mkm.ee/taotluse_tulemus/478892https://mtr.mkm.ee/taotluse_tulemus/478888So I doubt the legitimacy of the claim where they say that WBB is the "First Licensed Legal Cryptocurrency Bank"! There is difference in claim and reality! |
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Giving this thread a bump because I see only 17 votes so far!! I request everyone to vote for their choice, even if you don't have proper arguments for your voting choice! I want to do some data analysis from the outcome of this thread after running this poll for a month!
So please vote for your choice!
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One simple example is the requirement of keeping a minimum balance to maintain an active bank account. In my country, if I want to keep an active savings bank account, I will have to maintain a minimum balance of 10,000 INR. If I fail to maintain that amount, bank will deduct charge of 150 INR for each day and that money will be recovered from your bank account.
Lets assume, your account balance is 9,500 INR on 1st November. Bank will deduct 150 INR non-maintenance change from that same account. So on 2nd November, your balance will become 9,350 INR.
So if you want to refill your bank account on 2nd november, you will have to add 650 INR to your bank account! That's an organized loot!! It's your money but bank will not allow you to withdraw it even in case of an emergency!! If you do, you will have to pay charges for withdrawing your own money!
I have lot of other examples available because I used to work in a closely related sector. That's just a teaser for you!
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It's a sad news for me because I belong from this country where the government is run by a religious group who are more keen to build temples and statues instead of trying to become a technological superpower.
India is talent rich country and all major IT gients are led by indians. For example, Google, Microsoft, Mastercard, Nokia, LSI Corp etc. It's sad to see that India is taking a step backward and discouraging the population from using cryptos.
The only hope is that, nothing has been finalized yet and a lawsuit is still pending for decision in Supreme court. If the ban comes into effect, we will effectively taking a step back from a future revolution!
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What is proposed in the article is effectively a centralization option directly against the nature of the cryptos! Think about it!! The option for reversal will have to be taken care by some centralized team or authority, it can't be achieved through a standalone person! So the proposal will create an authorized group who can and who will undertake such reversal activity!
While I am not directly against the thought because it surely a need of the hour to take some steps against fraud ICOs, but through centralization is not really a good option! More brainstorming is need to reach a consensus here!
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There are various reasons and risks from Cryptocurrency including:
1. As in the form of digital assets, it is easily misused for financial system crimes such as money laundering.
2. The absence of a clear system, makes cryptocurrency vulnerable to malfunctions that ultimately harm users.
3. Crypto assets have the potential for financial crime (fraud), security violations and operating failures.
1 and 3. Both points look similar to me! Do you think fiat was never used for money laundering or financial crime?? Cryptos came into picture just 10 years back, what was there prior to that?? Think through!! 2. The system of cryptos are very clear, only the system of governments and regulators towards cryptos are not clear! That is major bottleneck towards the mass adoption of crypto. That's a valid point so check your local law before you jump in to the crypto scene! For this reason Cryptocurrency cannot be legally accepted and even banned in some countries. All definitely have strong and wise reasons such for the safety and comfort of the user in the country. Therefore, I think it is time for stakeholders in various countries, especially in countries whereas crypto-capitalexchanges trading ecosystems is high, must think about creating and compiling clear regulations related to cryptocurrency to prevent future potential problems. Because we know Cryptocurrency has become an unavoidable necessity and Crypto is not for us to avoid but must be seen as a potential for benefit and global progress. Check my above reply! Some progressive countries like Japan and Germany have accepted cryptos to be adopted within the mainstream economy! However, there are some backward thinking countries like India and Bangladesh have banned it from being a legal tender! However, that doesn't stop us from adopting crypto because we have a huge p2p market available for trading cryptos! But the way crypto has progressed in just 10 years, it shows that blockchain and cryptos are the future drivers for the economy! Either you become an early adopter or stay with the tide! Besides of the regulation of Cryptocurrency itself, the main problem is to prevent and avoid irresponsible individuals who have the potential to do other bitcoin or crypto washing, or theft of Cryptocurrency.
I question my self that do we can be free or stay away from fraud? This is a very serious concern! The way fiat used to be a toll for financial crimes worldwide, now cryptos are being used! Good and bad always go hand in hand and we can't really eliminate the one for another! The best way to avoid such bad things can be achievable through proper education! There is no other way we can avoid such things and it is also not possible to completely eradicate bad things from an eco system! |
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https://www.coindesk.com/new-bank-of-america-patent-hints-at-plan-to-store-cryptocurrency-keys/"Bank of America was awarded a patent for a device that stores cryptographic keys and the document's details hint at applications for cryptocurrencies. In a patent awarded Tuesday by the U.S. Patent and Trademark Office, the bank outlines a "hardened storage device" for storing private keys – such as those used for blockchain platforms – explaining that, at present, most keys are stored locally protected by nothing more than a password." Would this make banks responsible for uncontrollable losses? This will be great for adoption and hints at a future where banks essentially regulate smooth digital transactions and keep them secure. What I think the device is somewhat very similar to the RSA device that we use in our daily office life to log in to the office VPN. However, for cryptographic keys, the usage may be somewhat different than the previous RSA devices, that needs to be attached to the computer through an USB and then you will be able to open any designated platform! That's what I am assuming but not sure as not much details are given in the article! It's good that Banks have started understanding the utility of blockchain and cryptography! It reminds me one of the quotes of Mahatma Gandhi, "First they ignore you, then they laugh at you, then they fight you, then you win." We are on the way of winning, slowly but surely it will happen! |
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If you got youself a unique website with unique script and an unique algorithm to prove the provably fairness of your game, that would somewhat made sense! But not for a copy pasted website for sure! What's the guarantee that you won't run away with people's money??
This is what i do actually want to hear about on OP's words or answer regarding into this question, on how he can prove us out yet we have seen those obvious sites just only basing on his website design and script alone.Giving out some leverage offers without any proven funds being holdin. There are indeed few websites available that are showing off their unique design and unique script. But there are few general assumption that goes with such kind of features. An unique and good website design and unique gaming script doesn't come cheap for sure! So the general assumption is that if a person invested a lot to produce something unique, he may have long term plans because he wants to run a business to make profit. On the other hand, a copy pasted website is easy to make doesn't require that much of investment. So he may not have a long term plan with this business! AT least that's what our general assumption tells us!! So the question of security of the invested funds definitely comes into the picture! I am not saying that OP has a plan to run away with our money, but what's the guarantee of it?? That's my basic question!! |
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First of all, International Arbitration Courts are a part of International Chamber of commerce and it doesn't have the power to force a country to comply with their statements. These courts are mainly used to resolve border and international trade related disputes but it entirely depends on a country whether to comply with it or not!! Also possession of crypto is not a crime in china, so the verdict doesn't add up any value to the existing legislation.
The important question here is, whether cryptos can be classified as a property or not!!! I am strongly against this idea of classifying cryptos as a property. Bitcoin is one of a kind currency which doesn't really fall under any existing category!
There are several countries classified bitcoin in 4 broad categories as below,
1. Property
2. Commodity
3. Security
4. Private money/ value transfer tool
However, I strongly believe that bitcoin can't be classified in any existing category because of its nature and structure. It needs to be classified in some different category.
A lot of brainstorming will be needed to correctly classify it, but its definitely not a property! Probably going back to Satoshi's vision will help us to derive something, but definitely not a property!
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Point 2.
This Platform has 300 shares at all in the lifetime. everyone can buy a share or more if they believe in the profitability of this platform. it's investment, you will take a risk in present to gain profit in future. more risk you can take maybe more profit you will gain! you can use leverage. you can buy 1 share with 0.1 ETH with 10x leverage. Investors Receive 80% of platform profit as ther DPS ( Dividend ) every month. 7.5% used for Referral program and marketing, 12.5% use for developing and maintenance of the platform.
This platform launched Today and in less than 5 hours more than 40 Users signed and test this Platform. We believe in this platform, we want to make a tiny crypto economy. when all of 300 shares sold, then Second Market will start working just like stock exchange systems. Everyone has a share can sell his share on this marketplace by bidding price system. buying shares can earn from 2 ways: 1- Dividend Income 2-Share Price
it's like day 1 gold was discovered Or day 1 Bitcoin Invented and all of Day Ones! That's where my concern is!! You are running a copy pasted website even though the algorithm is different than primedice (as you claim), how come you have reached that valuation of 300 ETH (with 0X leverage) or 30 ETH (with 10X leverage)?? Is it something came out from your figment of imagination?? You get a script, set up a hosting, changed the logo, installed the script and started a business! I don't see a valuation of even 1 ETH?? If you got youself a unique website with unique script and an unique algorithm to prove the provably fairness of your game, that would somewhat made sense! But not for a copy pasted website for sure! What's the guarantee that you won't run away with people's money?? |
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I'm not even sure whether this is a bad or a good thing right now but this is definitely unusual and I have never seen it before even though I have been in the crypto scene since 2014.
From what I can see the development (Lightning network etc.) is more active than it ever was, so shouldn't that give a little boost to the price at least?
For me, a stable crypto price is more welcomed than a volatile crypto price! It has several upsides and with a very little downside. Let me point those out for you, 1. Volatile pricing was one of the major bottleneck for the merchants to accept cryptos as a payment method. Because of the fluctuation risk, the potential to loose money over time was way higher. With a stable price, more merchants will be open to cryptos as a payment method because they won't have to deal with the price fluctuation. 2. Stable price is good because the market is not ready to sell cheaper than current price. It seems to have reached an unwritten consensus among the buyers and sellers. Only an impatient imbecile will sell it cheaper! 3. Stable pricing will effectively discourage a HODLer to hold the crypto for longer time with a hope of good return! It will encourage them to come out of their coffers and to be used as a currency (the original goal of crypto) 4. Stable price effectively encourage the market to see a long term sustainable growth over a period of time! If the fluctuation is not high, people will see a sustainable growth very similar to the real world stock market because speculators will be acted out of the picture which effectively brings down the risk of huge slide! So for me, stable pricing of a crypto is welcome than a volatile market. If you want to see a sustainable growth now, start using your cryptos as a currency whenever possible! |
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It is an open secret, this is one of the ways they earn money! I remember of one ICO called RoomDao where ICO Bench tried to extort the owner. I remember reading a medium post made by the owner of Roomdao on this very subject. However, I am not able to find it now because the issue may have been solved between them and the ICO also moved to a different owner. Also one ICO Alethena launched an investigation on this and the findings are shocking. I encourage you to read the medium post below to get the full picture, https://medium.com/alethena/this-is-how-easy-it-is-to-buy-ico-ratings-an-investigation-13d07e987394This rating platform is botched up pretty badly and an informed investor will never decide on the basis of ICO Bench rating. |
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I think it is too risky. Gambling should not be something that much emotionally invested in. We are voting for someone and than also gambling to hope that same person (or bet on the other person if you believe whoever wins) would win. Gambling should never be really based on politics or anything remotely emotionally invested thing. We are talking about having a person run a country for some years that would definitely make some part of a country really upset and sad which you expect them to also put gambling on top of that.
I guess we should keep it based on gambling casino games or if its sportsbook type thing than let it be just "sports"book and nothing further. Any real life decisions to be made should not become part of a gambling topic people would bet on.
I too agree with you but for the below mentioned betting scenario, I can bet my fortune against Trump! https://www.betmoose.com/bet/will-trump-still-be-president-in-2019-3842Trump is not going to make it to White House in 2019 again! |
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Hmmm, more like a token bank which will use its own token. And the fees...god !!!!!...the feees !!!! https://eqibank.com/fees/Annual Fee: Accounts <€5M Maintenance € 1’000
Wire Transfer Fee: € 100
I hope there are quite a few of extra zeros in that table or it's some sort of Aprils Fools Halloween joke ! Lol!! I though of some fresh ideas that may have been incorporated in this new crypto bank. But it seems like another rip-off like traditional banks. Man, what bank takes €500 term deposit pre-mature withdrawal fees?? My bank don't even charge a single penny for such cases!! Good luck to the account holders!! |
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I will not comment on the coinbase valuation, rather I would want to focus on the 2nd paragraph. Along with Coinbase’s fundraiser, we have seen large amounts of capital flow into the construction of institutional grade platforms such as Bakkt, ErisX, and the acquisition process of multiple crypto exchanges around the world.
This prominently shows the growing interest of institiutional investors into the cryptospace! While it's mostly encouraging because of potential big money inflow and standardized operating procedure across the industry. Also it will make the crypto lobby more stronger which can turn the tide in our favor. However, it goes without saying that such kind of institiutional investment comes with certain risk factors. They are mainly whales who can and who will try to change the market dynamics at their favor. |
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What I understand from the main article is that Tracr will be a public ledger running on a private blockchain to ensure the compliance with the international trade law of diamond through a digital certificate and also to provide the entire transactional history of any particular diamond in circulation by these two companies!
It's an excellent practical use of blockchain technology to maintain and ensure the integrity of a particular type of business which can't be tempered with. Certainly a good move and i hope blockchain technology will be adopted by government to maintain land records. This is another problematic industry that needs some serious clean up.
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Here, I quote some sites that I have read: - On the CCN website said that investors are trembling because he has never experienced a true bear market. (Does the relationship with investors vibrate?)
Do we really call it a bear market?? It's a mere $200 drop in price. From $6,500 to $6,300 only. If the investors a re worried about this small drop which was a routine for bitcoin few months back when we have seen $200 volatility within few minutes, they should not come to the market at the first place! It's NOT a big deal at all! - On the ethereumworldnews website, there's hacking by Coinraill (what does it have to do with hacking?)
Coinrail was hacked in June 2018, almost 5 months ago. It is highly unlikely that we are facing the effect now! Around $40 millions of digital assets were stolen during this coinrail incident which includes a large number of tokens! Tokens under private blockchains have already been frozen whenever possible. So I don't think we are seeing any effect of that hacking incident right now! - The express website says "google" will delete ads about cryptocurrency. (what's the problem with Google, the fact is that cryptocurrency advertising continues to run today?)
This news published during March 2018 and I believe Google has already backtracked from this decision. Even though I am not updated about this news currently! But I can still see a lot of Google ad place service crypto ads. When this news was broken out during March this year, we have seen a slight decrease in price at that time, but not now! We can strike it off! Quotations from the site above, maybe you will think, how long will this end?
How long will we wait for him?
Don't ask again about the price of bitcoin for 2018-2019 whether up or down, reading, and doing your own research.
Quotes that I post as material to read and ponder.
No one knows! Probably asking GOD will fetch you some answer! |
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The question is very simple as the subject line says,
Do you want to see a stable bitcoin market price or a volatile market price?
Please cast your vote and give us the reasons for your choice!
I know such kind of topic can potentially attract a large number of spam so I have kept it as self moderated! Any invalid reply will be deleted!
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I have spoken to their support team through website chat system and they confirm they do not accept bitcoin payment. Below is the screenshot,  Also it looks like a local website with very loud design. |
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The world we live in now is moving towards a cashless society, because we are using digital payment methods more than we are using Fiat cash in first world countries. Just look at all the different payment methods that are being used on a daily basis, namely : ~ Credit Cards ~ Debit Cards ~ PayPal ~ Payment processors ~ Charge cards ~ Prepaid cards ~ Phone and mobile payments ~ Money orders ~ Online Banking ePayments (OBeP) ~ Cheque ~ Crypto currencies I see a world where all of these technologies will replace Fiat currencies.  I too agree with you here! We are slowly moving towards a cashless economy and probably within next 8-10 years, fiat will be a thing of past. However, I don't see cryptocurrencies as a viable option to replace the fiat system! In a worldwide scale, cryptos can't be used to power up all transnational requirement. What I see the future will be based on government controlled virtual currencies running on a government controlled blockchain tailor made for everyday use! We don't have to carry cash with us anymore and everything will be done using our smartphones! Even plastic cards will not be used at a scale that we are doing now! Every transactions can be carried out by your smartphone at any merchant outlet without using a plastic card or hard cash! Also I don't think Banking system will be phased out either! Banks will adopt this change and update their systems to go along with the change! But if someone argues that cryptos are the future, I would just say that, Yes, government backed cryptos are the future (Probably it will have different naming convention)! |
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