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601  Bitcoin / Legal / Re: Tether Cryptocurrency Becoming ‘Preferred Choice’ Among Money Launderers on: January 25, 2024, 11:27:56 AM
DAI is free from blocking, but criminals use USDT because they are aware of the complex procedures that the police must follow to get USDT blocked. And as a rule, these tokens can change several addresses, the winner will be the lucky one who sends the tokens to a centralized crypto exchange and receives a block.
It is true, but if they can freeze the account due to authorities report, then if regulatory pressure increases, they will do so through administrative decisions, then reports from the local police. Tether relies primarily on its bank accounts to maintain the stability of the currency, and a single decision can threaten its existence if the authorities decide to freeze their bank accounts Or impose restrictions on treasury bonds that are used to support currency stability.

DAI has wider options in the event that pressure is imposed on it.

I agree with both of you that DAI should be preferred over USDT by those who participate in money laundering. But, the question is how is DAI pegged and how is USDT pegged? Criminals want USD and not a stable coin which is not pegged 1:1 with USDT. That can be one of the reasons why they do not go for DAI and the other issue could be converting DAI to USD as USDT is available for conversion on most P2P exchanges whereas DAI is not. Another thing that came to my mind is that these are criminals who are not interested in understanding the concept of DAI. Their perception of USDT as it was the first stablecoin is that it is backed by USD and it might be the only way these criminal organizations deal in cryptocurrency.
602  Local / India / Re: India cricket Discussion and predictions [self-mod] on: January 25, 2024, 10:25:44 AM
England all wiped out on the first day for 246, except Ben Stokes none of the batters played well. He got 70 runs at a stage when England had lost 8 wickets and were struggling to reach 200. I like this all-rounder that England has, he is not only good with the bat down the order but can bowl as well. The Indian start has been good both Jaiswal and Rohit have been after the English bowling, Jaiswal is on 42 and he should reach his half-century. It doesn't look like this Indian side will miss Virat Kohli as they have a good replacement for him. Shubhman Gill has been out of touch but in this test match, he will regain his lost form back. To date, he has the best timing when he places the ball which is why it goes to the boundary in a zip.
603  Bitcoin / Bitcoin Discussion / Re: Are these P2P crypto platforms SCAM? on: January 25, 2024, 09:48:26 AM
Bybit, OKX and bitget are centralized exchanges wherein you can trade and do P2P transactions as well but KYC has to be verified which takes out your anonymity and

Paxful also has mandatory KYC apart from the three you mentioned. There are only a few centralized exchanges left that still allow trading without KYC.

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget


I am not sure about Phemex since I have heard this name for the first time. P2P scams are not due to exchanges but happen if you trade with a relatively new merchant listed on these platforms. If you are doing a P2P trade on any centralized exchange ensure that you do with a merchant who has a reputation and has made a significant amount of trade.
604  Local / Mining (India) / Re: How well people here in india knows about Mining on: January 25, 2024, 09:34:45 AM
What you wrote sounds more like MLM, as this is how chain marketing works. Until they stop getting new bakra they keep on the money rotation and when new users do not come in they start winding up their business. In this scenario, the user has to onboard other users to make money but with cloud mining, it is not an option. Like any other business, a cloud mining company needs to invest funds in marketing and a lot of money is spent to get new users. These users will be asked to buy hash rate as I have explained earlier.

The price of the hash rate would cover marketing expenses and if a scammer is running it then nothing would be paid but if a genuine mining company is running it they would pay a small amount to the user and keep a large amount with themselves. In most scenarios, they would wind up the business citing that it is no longer profitable to mine the particular cryptocurrency. I agree it is not recommended to invest in cloud mining but what you have explained is not how it is done.

Like TheUltraElite said Cloud mining is just a Ponzi scheme and everyone should avoid it. I have not dug deep into it, as I believe it is nothing but a way to scam people and make it look like anyone can mine without investing money and without having technical knowledge. The fact is if you do not have the technical knowledge and still have the money to invest in mining equipment you won't be able to mine. It is not something you can do by learning on YouTube or following a book. A miner should be aware of the hardware device and should know the coding.

All of the cloud mining is nothing but a way to scam people and rotate the fee within the users until they are out of it. The scammer who is selling cloud mining keeps a big chunk of the money that the user pays and passes on the smaller amount as long as he can. I remember there was a time when a few cryptocurrencies were released that were offering the mobile mining concept. Most of them later on left abruptly and a few kept going but never listed their coins on the exchange.
605  Bitcoin / Legal / Re: Founder of Crypto Firm USI Tech Charged With Fraud on: January 24, 2024, 12:40:38 PM
"The German founder of USI Tech, a crypto mining company and digital-asset trading platform, was charged by federal prosecutors in New York with defrauding investors of about $150 million in an illegal multilevel marketing scheme.

I am not interested in clicking the link and still, I am certain he came up with a cloud-mining company. This news is a trade mark example as to how cloud mining companies work.

Horst Jicha, 64, faces securities fraud, money laundering, wire fraud and other charges, authorities said Friday. After promising investors returns of as much as 140%, he shut down the USI online platform and transferred much of its Bitcoin and Ether assets to accounts he controlled, according to an indictment. He was arrested Dec. 23 while attempting to vacation in Miami, prosecutors said."

He is the bigger fish or he may not be looking at his age, but one thing I am sure of is that he trusted some young guys who are responsible for his problem. Grandpa will not rot in a cell till he dies and goes somewhere. It is quite bad as I feel he was the name and identity for those who committed the crime, as I cannot expect my elders to handle their smart phone properly.
606  Alternate cryptocurrencies / Altcoin Discussion / Re: zcash, pirate chain, monero, prcy, which is the best coin for future of privacy? on: January 24, 2024, 12:30:01 PM
zcash, pirate chain, monero, prcy

What do you think will be the best and why? Is anyone of these also scams?


Best for what? Investment or Privacy be clear about it next time.

If you are looking for investment purposes then it should be Monero, because it has the potential to grow and is always paired with Bitcoin. Another benefit of investing in Morero is staking, it is not as easy anymore as it used to be when it got listed the first time on an exchange. Accumulating more whenever the market is in red will help anyone reach the goal of earning the staking reward.

If you are looking for complete privacy then Monero has proven it is the best. All other coins you have listed came after Monero and you can call it the father of privacy coin. A lot of users who are active in the forum use it to hide their Bitcoin transaction trace, which I would consider a is a good habit in the current environment we are living today.

607  Economy / Lending / Re: Lending Service Started! (USDT/BUSD/BTC/LTC/ETH/DOGE/ETC)! on: January 24, 2024, 11:34:45 AM
Sorry for the delay in payment as I should have done it yesterday. As stated earlier in the application for the loan I have made a payment of $70 which is less by $5. I would add that amount to next week's payment. Please confirm that you have received the payment. Thanks.
70$ received and the new repayment amount is 455$

$75 repayment towards the existing loan has been made. Please check and please confirm that you have received it. Thanks.
608  Local / India / Re: India cricket Discussion and predictions [self-mod] on: January 24, 2024, 11:26:02 AM
Rajat Patidar would has been selected as a replacement of Virat Kohli. It is uncertain whether he will be part of the team that will play tomorrow against England. He made is debut last year when he was part of the ODI team and I would say his performance was okay.

BTW, Shubhman Gill got the Polly Umrigar Award for Best International cricketer for 2022- 2023, he was really good before he got dengue. The same award was given to Virat Kohli in 2014 when he was only 14 year old. He did mentioned on his x.com handle about it as he was present at the award show at that time.
609  Local / India / Re: New Scam related to URL ban for exchanges in India - [Awareness] on: January 24, 2024, 11:14:24 AM
Snip..

Already the Indian community is facing issues because of the decision by the Indian government to ban urls of prominent International exchanges. Now, this scamming shit, what low can scammers stoop too is being evident with such scams. I sometimes feel how intelligent these scammers are as they come up with scams which none of us could think about. If these guys had used their brain for the right thing then they would have made more money and would have been treated like celebrities. Unfortunately the harsh reality is that scammers won't stop to scam innocent people and day by day they are getting better with new tools that were created for the betterment of the internet society.
610  Local / India / Re: Why is Bitcoin getting dumped after the ETF approval? on: January 23, 2024, 01:10:28 PM
This is normal as we know Bitcoin is known for its volatility, it is the best time for accumulation and it is the best time to invest in altcoins. As you said it has gone down by 10 percent which is normal with Bitcoin, if you did not know the price of BTC in January of 2018 fell from $21000 to $3000. Now do your math and you will know how big the price fall was in percentage. What we are seeing is normal before halving as institutional investors love a lower entry price point for Bitcoin and it has been happening before halving.

Grayscale sold Bitcoin would now be bought by BlackRock and other institutions that have got their ETFs approved. I mentioned BlackRock because their demands are far higher than others who got their ETF approved. BTW, Indians can invest in Bitcoin ETFs, there is a way to do it but, why anyone would do it as investing in an ETF won't give anyone Satoshis as they will get a paper on behalf of the financial institution.
611  Other / Meta / Re: Use of AI on Bitcoin talk on: January 23, 2024, 11:31:00 AM
snip..

I have been using free Grammarly for quite some time now and it corrects my spelling, does help me with grammar, and sometimes removes unwanted words from a sentence. They recently came up with another free product which is called Rewrite with Grammerly, it will only help if used to improve a paragraph or a sentence and helps with ideas to write a topic. As you are suggesting Grammarly I would like to ask you, If rewrite is used will it be considered AI written content?
612  Other / Beginners & Help / Re: What is signature campaign all about on: January 23, 2024, 09:30:30 AM
To understand a signature campaign you need to first understand the ranking structure of the forum. Your rank at the moment is Jr. Member and for any users to participate in a signature campaign they need to be Full Member. There are a few signature campaigns that sometimes onboard users who have Member rank. For any user to rank up they first need to focus on learning about Bitcoin and altcoins and building up the account reputation. Another important thing that you should know is that not every high ranking user gets selected for a signature campaign, a lot depends on the posting quality and posting habits of the user.
613  Alternate cryptocurrencies / Altcoin Discussion / Re: Where to promote information about projects? on: January 23, 2024, 09:10:21 AM
I've run a Bounty campaign before, and the results were virtually nil. On Twitter, 500 people signed up, who either had baited followers or were subscribed to several tens of thousands of accounts, and all of them didn't have a single live follower. And Telegram gained 200 people, and maybe three of them wrote into the chat.

Twitter is now not what it used to be before it became x.com, it is only good for tolling. I would say use Reddit, tiktok, a blogging platform, Youtube, and our forum (signature campaign) for promoting your project. Create a bounty campaign in the forum and use the mentioned platforms to promote your project. Run the campaign initially for 4 weeks and then evaluate the results. If your project is unique and solves natural world issues it will be a hit in the first 4 weeks. Depending on the result you can then extend it to a few more weeks.
614  Bitcoin / Legal / Re: Tether Cryptocurrency Becoming ‘Preferred Choice’ Among Money Launderers on: January 23, 2024, 08:42:42 AM
That's quite surprising! USDT is a centralized cryptocurrency where the issuers have the power to block any transactions or wallets. They have done it multiple times before and they can do it again. So it's surprising to see that a centralized crypto is being used for illicit transactions. Ideally cryptos like XMR are supposed to be used for such transactions the way it happens in the black markets. Is USDT knowingly allowing such transactions to happen using their network?

XMR is not stable and is not pegged to the global currency which is USD that is why USDT is being used for illicit activities. Tether can freeze USDT only when authorities report it. Without any reporting, they don't freeze USDT and those criminals who are into money laundering are not some small-time thugs. They know that Tether provides greater anonymity than Fiat, has far lesser transaction fees than Fiat, and is easy to use. As the UN is the mouthpiece of five countries I am assuming money laundering using USDT has grown in those five countries. Globally USD is still a preferred way of laundering money and financing terrorism.
615  Local / India / Re: Apple removes Binance, OKX and Kucoin from App Store in India. on: January 22, 2024, 01:02:45 PM

I can open stake.com with Jio. What error message did you receive?

I don't know because when it happened, I quickly switched over to Airtel. I got the default message the website cannot be accessed.


Crypto casinos are probably out of their radar for now, once their eyes fall on those, we'll see things getting tightened around them too.

I think so that crypto casino is out of their radar, still the ways things are shaping for crypto in India they will go after them in the future.
616  Local / India / Re: [2023 Yearly Update] Indian Board activity on Bitcointalk on: January 21, 2024, 05:31:26 PM
A great improvement from 2022 can be seen in 2023 and I am not suprised about it. In 2024 I have something planned to make this year better than 2023. I need all of you and in particular 10 of you to be more active than you are now. There would be more contest that I have planned exclusively for Indian members and with halving approaching I feel the numbers should increase. Conditions are not that friendly as they were in 2021 but people are till to date are crazy about Bitcoin and other cryptocurrencies. I am hopeful that we would be one of the top contributors in the forum for 2024.
 
617  Local / India / Re: India cricket Discussion and predictions [self-mod] on: January 21, 2024, 02:05:13 PM

Good to see @JSRAW being active on the local board and it does help us brother. My one point as to which player would be part of the T20WC is to wait for the IPL to complete and not rush to the conclusion now. There would be some new names on the team and there would be some old names, we won't know it now. IPL is where the selectors have started focusing before Ranji and other domestic cricket. Who will get selected is another thing, who will not get selected is something we would need to focus on.

I do not think Rohit or Virat will be part of the squad. You cannot forget their batting in the past T20WC only because they played well in the ODIWC. I do not think KL Rahul is suitable for the T20 format but I cannot omit that he is the captain of one of the franchise teams. I do not know what is the situation with Hardik or Panth and  Sanju Samson what I know is that they have to do their best in the upcoming IPL to be part of the team. The selectors will be only looking at the IPL as it is a 90 days league and it will show the true form of a player.
618  Local / India / Re: Apple removes Binance, OKX and Kucoin from App Store in India. on: January 21, 2024, 01:53:27 PM

Bureau is referring to Airtel and Jio as ISPs not payment methods.


Has anyone tried accessing Stake.com while using JIO? This is something I recently found out - I was surprised that Mukesh Ambani would go to such lengths. I was trying to place a bet yesterday on the South African T20 league, earlier I had switched to JIO as the network of my Airtel connection was not that good. I without checking which network provider I was using I went ahead to access Stake. Unfortunately, it did not open and it gave a weird message to which I got confused. I tried a few times and eventually, I gave up and then shifted to Airtel and it worked. Today before writing this post I saw that I was able to get access to the site. Has anyone else faced the same issue if yes then is it something happening continuously?

If you have not faced such an issue then why the government is encouraging gambling and betting with cryptocurrency? Why not apply AML policy against these casinos which are known for money laundering? I sometimes feel that this government is only concerned about its tax collection and not concerned about the middle class which is being squeezed to its lowest level.
619  Economy / Service Discussion / Re: Is signature payment for free on: January 21, 2024, 01:17:05 PM
When I woke today I was flabbergasted concerning signature payment

How can you be surprised and at the same time concerned about signature campaign payment? I do not understand what you meant by being here from 2022 you should be aware of the ranks and how the signature campaign plays an important role in keeping the forum alive and not deserted.

how does what we write in the forum convert to money

Signature campaigns are nothing but marketing campaigns as Bitcointalk is the forum for Bitcoin holders these campaigns are run to promote a product that uses Bitcoin for revenue generation. Not all the revenue comes from Bitcoin for the project, whereas a majority comes from it.


At service board I have applied in open slot that fall to my category of rank specification for signature but when I calculated the what is being spent in all the participants in different signature campaign is huge and the payment have hierarchy, now the question is what is the source of various signatures campaign having funds to pay all their participants, I think my question have repeat itself twice in this thread.

As I have mentioned earlier it falls under marketing expense. Ranked up is not that easy to get on Bitcointalk and that is why a higher rank member gets paid more than a lower one. Do not go into the calculation as to how much a campaign is paying in total to all its members. There was a time when the total amount might compete with a big company's advertisement revenue.

Again can we be ask to return any funds that is being paid to us in future time, most of you who has being here for long-term have you be questioned in one way to the other for refund of payments from the designated signatures campaign you find yourself into.

If you are part of a signature campaign then it your earning and no one would ask you to refund it. Unless you have been paid extra accidentally or you were not supposed to get paid.
620  Bitcoin / Bitcoin Discussion / Re: Bitcoin ETFs - Good or Bad? on: January 20, 2024, 01:41:33 PM

I do not know why you are attacking my thread, when ETFs are the hot topic at the moment. Everyone are talking about it and trying to analyze the impact of this on Bitcoin. I have DM'ed Hhampuz on several occasions and he is very happy with my posting, so stop trying to discredit me to possibly gain a spot for yourself in his signature campaign.  Wink


Hello mate! I do not have any grudge against you and neither I am attacking you or your thread. What I have written earlier is what I noticed and checked with your past posting. What I still do not understand is why are creating a topic that is not your forte, what I do understand is that you are not happy about Bitcoin ETFs. My question to you is can you stop them? Next, Hongkong will be coming out with a Bitcoin ETF again my question to you is can you stop them?

In any way... a lot of people on this forum still believe that "centralization" of Bitcoin are wrong. Institutional investment are not going directly into Bitcoin, but rather a centralized database that are off-chain. (So it is not a piece of paper, but rather a digital entry into a centralized ledger)


Buying Bitcoin ETF does not mean that those buying are getting Satoshi, they are only subscribing to paperwork and they won't get anything. Depending on how Bitcoin performs they would be earning USD and nothing else. Where did you come up with the theory of centralization of Bitcoin? Wherein Bitcoin itself is decentralized as you do not have an understanding of what is exactly Bitcoin ETF means in the practical sense. Let me explain to you what is happening and why it is happening.

Financial institutions were against Bitcoin from the day it got hyped after 2017. They were always negative about it as they felt the threat and knew it would destroy their ongoing scam of fiat currency. To stop that they tried their level best by creating a negative image of Bitcoin before the pandemic. Post-pandemic everyone knew why Bitcoin was good for them and that was one of the reasons apart from institutional investors a lot of money came from personal investors.

These guys as in the financial institution in 2022 understood, how much profit they could generate for themselves if Bitcoin could be made a legal investment option. That is why they came up with ETFs and you cannot stop them, but you can only smile at them as they are now going to buy Bitcoin from the market and eventually promote Bitcoin through their investment and advertisements on Bitcoin.

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