I often wonder whether governments wonder about whether having much of their economies running through two companies is a sensible idea. In the UK the major banks often have a giant outage. TSB had one that carried on for days. In cashless world that means an absolute grind to a halt for everything.

A much higher price than anywhere else ALWAYS means there's something wrong with that exchange. Either you can't get money in or out so the price lives in its own little world, or they're creating a fake price to lure you in.

If there was a way of exploiting that price difference it would vapourise in a matter of minutes. No one leaves free money on the able and there are untold numbers of bots scouring exchanges every second looking for opportunities like this.

But you do hear of many cases where people seemingly haven't done anything at all with it and get the same. There's so much automation, and stupid automation, flying around these days maybe they themselves may not know, their program told them to do it.

I had my account frozen with one of these app based banks for no reason at all. Going on their rep I knew it was only a matter of time so never kept any money on there. I binned it and moved on. 

Depending on jurisdiction they're not legally allowed to tell you why they've given you the boot. Not exactly helpful. It's possible they followed the BTC you sent to other people and that BTC subsequently was spent on something naughty. They may not know or care that it left your hands.

You'd basically have to stay there or hardly ever touch the money. By the time you figure out the inconvenience and boredom and heart ache the average person would rather cough up the tax and carry on with a normal life. As long as it wasn't too egregious I would. Most tax havens are ghastly because the only reason people are there is money.

Think how long it took the average person to get on the internet. I myself didn't bother for several years. Throw in money and the total lack of understanding most people have about any of it and it's not surprising. Acceptance from Mr Average will be fed back to him from the top down with its stamp of approval, not us random maniacs.

If I knew very little right now about it I'm pretty sure my head would spin after a few minutes of research. I'd tell whoever wanted to pay me to sort their life out and gimme some boring normal money.

Any country that allowed that would be instantly swamped and also an instant pariah. I'm sure it's possible if you know the right people but I can't imagine there's anywhere fully and publicly wide open.

And even if the country allowed it the buyer of your crypto may get seriously stuck trying to get money to your obscure account. You're better off moving to a low/no tax haven where you can avoid paying it out in the open even if there is KYC required.

It never occurred to me to take a course back in the day. There probably weren't any. Why not list your questions here?

Hodlhodl looks like quite the unique set up so I wouldn't know much about it. Plenty others here will.

Nope. But you'd better live seven years after handing them over if it's a sufficiently large amount or it's inheritance taxable just like anything else of value would be.

It's attitude dependent. I have some shitcoins. I have some bitcoins.

The Bitcoin I believe in and want to keep hold of that but I also have fiat costs. I'd rather get rid of the shitcoins to meet those costs so for me they're priced in fiat and I don't care what their BTC ratio is.

Could they eventually harvest much more BTC? Sure. But if the right price arrives I'm getting rid. They won't be up there for long and that ratio may be up there when the Bitcoin priced measure in fiat is much lower. I ain't sitting through another obliteration to realise that profit.

Don't forget remittance. Hundreds of millions of people do that on a regular basis. In places like the Philippines the crypto infrastructure is so good it's often the cheapest and best option.

I paid for a holiday rental in the US with BTC. Their bank insisted on a cheque being created in the UK and posted to the US. That would've been about 2-3 weeks. With my seduction techniques I got them to get a Coinbase account and it was job jobbed within the hour.

Compared to Reddit, which I hate, this forum can be pretty shit at staying on top of the news. 

https://old.reddit.com/r/Bitcoin/comments/k14ca8/us_treasury_and_secretary_mnuchin_propose/?sort=confidence

If it comes to pass it'll be the US throwing away any lead they may have. As Our Brian points out there are many scenarios where it's simply not possible to do what they're proposing. Americans are already more trouble than they're worth for companies outside. Looks like they're keen to amp that up.

It's not as if everyone is being forced to wear a Bitcoin star of David but it would be nice if they thought these things through properly.

It's been like this ever since Paypal were aware of crypto. I guess many people won't understand the difference between Paypal's Bitcoin fun tokens and their arsiness if you use their services to dabble in the real thing.

I can imagine this is going to a happen a lot more often after tailing off over the years.

As ever someone actually asking for crypto for their property will either be asking a stupid price for the honor of paying in it, or it's a dump. Most of the places have been dumps. People actively accepting it for properties are still outliers in the extreme.  

You're certainly not going to save any money. What you would be doing is cutting out all of the worry about selling a large amount and exchanges and banks having kittens which is something I'd very much like to avoid. You'll still have to pay your CGT.

You'll have to be proactive. Find somewhere you like and then, unless you miraculously turn that old lady seller into a Bitcoin fan over an afternoon, call somewhere like Bitpay who facilitate large buys as well as retail things. You pay Bitpay. They pay the seller. And it's job jobbed. You'll have to hit the seller until they agree as most people will be pussies about this.

Good point but I'm pretty sure you have a little man with shiny hair who turns up in a Rolls and does it for you if you're talking those amounts, though I seem to remember moving the really large amounts is a lot more slow and onerous than our little retail sends.

Just goes to show little attention he's paying. Hardly anyone's interested in it as a payment mechanism. Most people see it as a dollar extracting mechanism.

The US is uniquely shit when it comes to banking, I get the impression sending money for a goat in Somalia works better, but much of the rest of the world has conventional payment mechanisms that are instant and free.

I assume they assume every single user is signed up for online banking. If you told whoever you were dealing with you had to go down the bank they'd probably shop elsewhere. With faster payments people expect it to be resolved in a few minutes.

Do you do telephone banking at all? That's the next best thing. Feed them the transfer details over the phone. Ultimately online banking is just the fastest way of passing information on. Telephone and in person is the same thing but others may not have much patience for it.

The threat is from within. Either its users simply losing interest or enough participants hijacking it and throwing away it core principles. We see every single day people whining about fees and slowness when the reason for that is to maintain the reasons people are here in the first place.

Most people seem to want Paypal by another name and it's only the more informed and influential few who stop it from happening. Maybe one day they'll be overpowered or just leave in a huff.

But you don't have any Bitcoin there to seize. You have Bitcoin credit. And anyone who thinks Paypal will magically loosen up their usual anality is a silly sausage. It'll be just the same as everything else.

The one trojan ish bit would be the buying they undertake which could add up to a vast stash that's readily tappable but you do have to go through the law and stuff to grab it.