Kyc is actually not bad for crypto as it helps in curbing fraudulent activities on the space. However it is always necessary for those asking for kyc documents to protect these docs in the best interest of their users to avoid these documents leaking to a third party.
However, exchanges are not doing it in the best interest of the user. They are doing it only to be compliant. Also, your private and personal information are not safe. They are usually sold to 3rd parties for profit as normal practice. They also might give them to a demanding government. Many exchangers allow withdrawals without KYC but are limited to a maximum withdrawal of 2btc. In my opinion, the exchanger must obey the government rules regarding KYC because there is a fear of money laundering and I think this is a good thing to increase public trust What would you do if the exchanges that do not require KYC with maximim withdrawals of 2 bitcoins changes their policy on you and lock your account and ask for KYC? Also, KYC does not appear to be increasing trust. KYC can also be used against you. We have already seen this. |
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I reckon that Grin holders should not wait for 100 years to witness the practicability and sustainability of Grin's monetary system. Bitcoin's next halvings will show us, beginning on the May halving hehehe.
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@bkbirge. What is this practical limit? It is similar to how Vitalik uses very complicated technical terms to confuse everyone and make it appear that he created a magical platform that will solve all the problems in the cryptospace.
However, there are some people who are seeing through these false claims.
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Observing $6623... and here's our finalists, with a pretty good chance to win: I predict a final pump on the final day of the final hour of this competition to exact 6835 hehehe. Thank you. |
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It appears that Conor might be correct hehehe. Also, Dana should stop fighting the situation and create a new storyboard when this crisis is finished, I reckon. |
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However, did he predict what was about to occur by using technical analysis? This can be an argument because the changes on the price of bitcoin is a representation of the psychology of the market herd.
We all know that technical analysis can work in markets with very high capitalization. The cryptocurrency market has very low capitalization and therefore very large price fluctuations, which means that technical analysis does not work here. Such predictions are mainly based on analyzing upcoming events and observing moods. Someone will always be able to predict the price, but I have not yet seen it succeed in the same person twice in a row. What is the connection, who said that and is there proof that technical analysis does not work on bitcoin? Also, if that was true then where did Tone Vay's prediction of $4k come from? |
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@Harlot. However, our attitude towards KYC should always to be careful. Many users are very open to upload personal documents to cryptocoin exchanges which many are not regulated. This attitude should not be.
@squatter. QuadrigaCX might be a part of a Canadian tax evasion syndicate hehehehe.
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This is what the project developers should do! Our cryptospace should not be taken down on the urge of people behind government. Let us support the TON community and their developers in their attempt. Developers of the TON blockchain are still considering deployment, despite injunctive ruling by the U.S. court.
Fedor Skuratov, a spokesperson for TON Community Foundation, a community of TON developers, told Cointelegraph that the recent unfavorable decisions by the U.S. court did not catch them by surprise:
“The community was ready for this (or another) scenario. We have several options, including the launch of TON by TCF [TON Community Foundation]. I will say more, no one (no one) can prevent the launch of TON by any other entity, person or community, cause TON is a decentralized open-source solution. Already, there are two different test networks, and within the community, there is at least one group planning to launch.”Read in full https://cointelegraph.com/news/ton-community-no-one-can-prevent-the-launch-of-ton |
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However, did he predict what was about to occur by using technical analysis? This can be an argument because the changes on the price of bitcoin is a representation of the psychology of the market herd.
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As per CoinDesk, this dip was caused as a result of mass dumping of cryptocurrency by PlusToken scammers. They have dumped at least $120 million worth of cryptocurrency during the last few days. And that was the reason why the BTC exchange rates plummeted by more than $1,000 during the same period. And if you remember, the PlusToken scam involved cryptocurrency worth at least $3 billion. And this means that it will continue to have a major impact on the cryptocurrency exchange rates, in the foreseeable future.
The Plustoken scammers might have also been fearing the negative dumping effects of the coronavirus on bitcoin hehehehe. Did Coindesk tell what exchanges were used? Why were the accounts not locked? |
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I don't see this as a bad thing for the users of QuadrigaCX. The company is just giving already known information from this users to a different department and even if they have found something like discrepancies in their earnings I don't think they can be used against them. For one the money is earned from that exchange is already lost and two they can't use evidence or even they found out something new with that information as evidence against you as it is inadmissible in the court of law. So really what I'm seeing now is either they are delaying the case or they are just throwing trash to their taxing department which isn't really new on court cases.
This is the type of reaction that bring users in trouble, I reckon. It can and will be used against you. Also, whatever can go wrong, will go wrong. It will also not be the first time. |
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@BayAreaCoins. Agreed. However it is the business people behind this centralized project that made it a marketing scam. I reckon the developers of Ripple should hardfork to continue its development as a real open source project. Lawsuit Alleges Ripple CEO ‘Dumped’ 67,000,000 XRP for Cash and Other Cryptocurrency in 2017
According to the lawsuit, which alleges Ripple has sold XRP as an unregistered security since 2013, Garlinghouse publicly stated he was “very, very, very long” on XRP in 2017 while selling large portions of the crypto asset.
“Garlinghouse’s representation that he remained ‘very, very, very long XRP’ and was ‘on the HODL side’—holding XRP for long term gains—was false when made as throughout 2017 Garlinghouse sold millions of XRP on various cryptocurrency exchanges.Source https://dailyhodl.com/2020/03/27/lawsuit-alleges-ripple-ceo-dumped-67000000-xrp-for-cash-and-other-cryptocurrency-in-2017/ |
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Kyc is actually not bad for crypto as it helps in curbing fraudulent activities on the space. However it is always necessary for those asking for kyc documents to protect these docs in the best interest of their users to avoid these documents leaking to a third party.
However, exchanges are not doing it in the best interest of the user. They are doing it only to be compliant. Also, your private and personal information are not safe. They are usually sold to 3rd parties for profit as normal practice. They also might give them to a demanding government. |
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News update. It appears that another lesson was learned that we should not readily give our personal and private information to exchanges and other cryptocoin services. QuadrigaCX users, you should await a visit from the the tax collectors hehehehe. One of the biggest fears of cryptocurrency traders is losing control of their personal information. And that fear has become a reality for QuadrigaCX former users.
Ernst & Young, the trustee overseeing the bankruptcy case for the failed Canadian crypto exchange, will be turning over all of Quadriga’s user info and data to the country’s tax collector.Read in full https://amycastor.com/2020/03/27/bankruptcy-trustee-to-hand-over-all-quadrigacx-user-data-to-canadas-tax-collector/ |
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@malevolent. However, Toner Vays might have begun his secret investigation on the coronavirus before he made his prediction. I speculate that he might have friends from the Chinese trading and mining community that give him news and updates.
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@smooth. I speculate Justin's quietness about this matter is a sign of danger coming. He might be talking to his lawyers to begin a lawsuit versus the witnesses.
Whoever might win the case would certainly take the cryptospace on a significant turn for better or worse.
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Another bad news from the NBA, KAT is now also infected, why is it most NBA stars were getting infected by the virus?
With this new cases in the organization, I doubt the management would still push to resume the season soon.
The skpetical me. There might be a conspiracy to control global public panic through the use of famous celebrities and athletes to pretend that they have the coronavirus and show that they are ok. This virus might be more deadly than what the authorities tell us, I reckon. |
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This will be another cause on why Ethereum 2.0 might be delayed. Security vulnerabilites. Ethereum developers were never the best in securing their systems by producing secure code. The Dao had investors' millions of dollars stolen and the Parity bug had millions of dollars frozen.  An audit of the ETH 2.0 specifications highlighted the need to address potential vulnerabilities with the protocol’s peer-to-peer (P2P) networking layer and block proposer system, according to the published findings.
As The Block previously explained, developers would need to implement a major multi-client testnet and run it for at least two months before the Phase 0 mainnet launch can take place. Therefore, it is unlikely that the launch will happen in the upcoming weeks.Read in full https://www.theblockcrypto.com/post/59936/a-new-ethereum-2-0-audit-has-highlighted-potential-security-vulnerabilities |
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I speculate that Dana is doing anything to make this fight a certainty on April 18 not because of Ramadan. It might be to clear the road for Conor. I reckon if winner is Khabib, Conor will challenge. However, if winner is El Cucuy, Conor will fight the loser hehehehe.
So bottom line is, Conor will fight Khabib regardless of who will win the fight this April 18. Poor Justin Gaethje if that is the case, he is far more active fighter than Conor who just won the fight last January 19 against Cerrone and now he is the top contender? Yes because Conor is will create more wealth for Dana and the UFC. However, Conor might fight Justin if Khabib demands to fight only the next challenger on the line which is Justin. @notblox1. The news article mentioned that there was a bottle of Recuerdo mescal in his car. This is Jorge's fault hehehehe. |
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