These days ICOs are very restricted often excluding residents and citizens of certain countries. In America unless you are an accredited Investor there are many Icos that do not allow participation on both Airdrops as well as sale of tokens. What happens if you hold double citizenship? I do happen to have a Brazilian citizenship but I do reside in America spending 3 months out of the year in Brazil. In this case would it be ok to register to few ICOs using my Brazilian Info? There are few project at the moment that I am interested in, was sad I was not able to join in then this idea suddenly sparked. Figured I would ask the forum for some advice before taking a step further. any advice is truly appreciated.
It depends on what your tax country is. Since you are spending 9 months in USA per year and 3 months in Brazil, your tax country is USA unless there is a dual tax arrangement. So if your tax country is USA, then you are not allowed to participate in most of the ICOs. |
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All crypto users already know how the risks of investing and bitcoin transactions. Naturally, some banks remind their customers to be careful to make transactions using bitcoin. The email is actually very good because the bank has reminded us to continue to be careful using bitcoin as an asset in investing. We should be grateful when we are reminded like this so we can be more careful in storing digital assets that we have in a virtual wallet to always use the security available.
For those who do not understand crypto maybe they will feel confused when getting such emails but maybe also they will be curious and find information about bitcoin and hopefully the curiosity makes them interested in using bitcoin as an investment and use it as a method of payment. The email also I think to be a positive thing because indirectly the email has become a promotional material to introduce bitcoin to its customers.
Don't try to sugarcoat it. We know the end game when banks do stuffs like this. They only tried to sound as neutral as possible in the email. A person who was previously interested in getting involved with Cryptocurrencies would be having a change of heart after reading the email. Banks have always been about spreading negativity about cryptos so I'm not surprised. Absolutely! That's the main point of the discussion. They are just trying to sound neutral but these kinds of mailers are actually creating confusion. Especially for the people with conventional mindset. They would never think about bitcoin and crypto currency again since their bank has sent out an email asking to take caution. That's as bad as spreading negativity. bank of india??
you nearly had me concerned then
No, it's not Bank of India. It's IDBI Bank headquartered in Mumbai. |
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Friends Buy BTC and Help it Take Down The Wall at 9000
If we can get its past 9050 it will fly up
We allmost there!!!!
The resistance at $9000 is very strong for bitcoin of course massive buying will break the resistance if broken I am very optimistic that the price of bitcoin will rise up while the resistance will turn support and push up the price. True! The resistance seems strong at $9k but with the global buying spree it is nothing we can't achieve. It just needs some more positive news coming to the market. But I believe, those who are smart enough, they are already buying in big numbers because this is not the price bitcoin should be playing at. But the global market slowdown seems to have effected bitcoin and crypto market as well. The main stock exchanges are down throughout the world and hence crypto market is down as well due to the lack of demand. Once it normalizes, the market is expected to fly back. |
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What a sensationalist and misleading title.
First, you said "Major global banks" and "organized effort undertaken by the banks", making it sound like there's a worldwide crackdown on Bitcoin yet it's only one bank who sent an email/warning back in December 2017.
Second, what negativity? I know how some banks have been attacking Bitcoin and some others don't like anything related to cryptocurrencies but, in this case, the RBI is concerned and it's simply trying to warn their customers so they can be cautious around cryptos. Cryptocurrencies isn't something to be taken lightly, if people aren't careful and don't consider the risks involved when dealing with cryptos, they can lose their money. So, I don't see any negativity from what you posted.
Came in expecting to read something serious but, instead, fell for a clickbait/misleading title.
Sorry, if you felt that way! But this is not something from the past. RBI issued such warning in December 2017 but this email came only today. This is from one of the major banking player from India. When I talk about major global banks, it means JPM, Lloyds, PBOC etc. But when I checked this email today morning, I was worried because this kind of emails are enough to create confusion in people's mind. This kind of emails can actually slow down the growth of crypto currency in India. |
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Major global banks have already cleared their intention towards crypto currency by spreading negative news about it. Many banks have suspended accounts of crypto business entities. Overall banks are extremely negative about this crypto currency market and they are trying to discourage people from using it in an organized way. They have thrown us in to a challenge where the playing ground is not even. However, banks in India have not yet shown any big threat to the crypto related business until today. Today morning while checking my email, I found an email sent out by my bank that talks about crypto currency. While the tone of the email is pretty much neutral but that's enough to create a confusion among the people especially those who doesn't know anything about crypto currency in general. See the picture below, Just in case, the picture doesn't show up, I have copied the text from the email below, Dear Customer,
We request you to take note of the following important information.
Reserve Bank of India (RBI), vide its press releases dated December 05, 2017 has raised concerns and cautioned users, holders and traders of Virtual Currencies (VCs), including Bitcoins, regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs and also clarified that it has not given any licence/authorization to any entity/company to operate such schemes or deal with Bitcoin or any VC.
The Government has also advised that “Distributed ledger system or the block chain technology allows organization of any chain of records or transactions without the need of intermediaries. The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.”
Given concerns, both globally and locally including from the Reserve Bank of India, IDBI Bank would like to caution you regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with cryptocurrencies, including Bitcoins and virtual currencies.
Assuring you of our best services at all times.
Regards,
IDBI Bank Ltd., Mumbai. This is an organized effort undertaken by the banks to discourage general people from the crypto currency. I don't know what legal grounds they have but it is clear that they are considering crypto currency as a potential risk to their business. If this continues, it will be hard for the community to attract new investors. |
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they are not censoring crypto searches, tweets, posts, etc. they are censoring ads that's used by the scummy people with fake icos and shit, if an ico is good they don't need fb ads because its well known inside of the crypto community, they are doing us a huge favor by not letting newbies get scammed and lose faith in crypto
I doubt their intention is similar to what you've mentioned. Google, Facebook or Twitter are not really concerned about their user's safety in anyway. Otherwise the recent Cambridge Analytica issue wouldn't have surfaced for facebook. I strongly think that they are bein forced to stop crypto related ads by the USA government. These companies are all USA based company and surprisingly no other company has issues such notification of banning ads. Also these kind of ads are a very good source of their revenue. Why would they take a hit on their revenue? Food for thought! USA government is playing a double faced game with the world. |
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It is reported that the new governor is kind of friendly to the bitcoin. He stated that he is inspired by bitcoin in running the financial system in 2013. He was a professor at US Indiana University in 1986. But my personal understanding is the government will not open the free market for the bitcoin. One possible approach is to open a centralized exchange to list the only selective tokens as a way to encourage innovation. You may find the most updated information from China and beyond by https://t.me/oneminute_crypto_news. I am not particularly excited about this news because People's Bank of China can't decide anything alone. They can just provide advisory to the government on the monetary policies but government decides the final outcome. So it holds no significance if the governor of PBOC is crypto friendly or not as he doesn't have decision making power. |
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We all know the cryptomarket has been on a downward trend since the second week of january.
Now it seems like the market correction and retracing is over.
Do you think bitcoin has the capability to hit the $30,000 mark before the end of 2018?
It is very much possible and I personally don't want to disagree on that. Because if it happens, probably I will be able to repay all my credit card debts and also make a good amount of payment to my mortgage lender. So I personally want it to happen. The value of bitcoin actually depends on a lot of factors. One of those factors is the underlying technology, BlockChain. I said it earlier as well that we haven't yet discovered the full potential of blockchain technology. We can't even think off how much this technology can help us in our daily lives. A lot of companies have invested money into researching blockchain technology and how it can be used in real world. Big management consulting firms like E&Y, Deloitte have recruited blockchain specialist to leverage in this sector. So we can expect many new innovation to unfold in coming days. It will increase the public trust on blockchain technology and once people are comfortable with blockchain technology, they will become intrigued about bitcoin as well and at least they will try to understand the features and benefits of bitcoin. Currently Banks are driving people in a wrong way. Recently, I had visited my bank to request for a checkbook in the afternoon when the branch was almost empty. So just for fun, I asked the person sitting on the counter about bitcoin pretending that I don't know anything about it and some friends of mine told me about it. The Bank guy said, it is a big scam and used by criminals only. He added, if I start using bitcoin, I will be thrown behind bars by the government. He also said that our government has banned it and lodging criminal cases against anyone found using it. He clearly didn't realize that I have been active in this field since a long time now. I simply smiled and thanked him for his inputs and came out of the branch. This kind of interaction shows, that Banks are trying big time to discourage people from using any crypto currency. It is an organized sector and hence common people are also believing them. These kind of organized movements are actually hindering the growth of bitcoin and slowing down new innovations in blockchain technology. However, since some financial superpowers like Germany and Japan have already legalized it, I believe, more countries will come forward with the same intention. If it happens, 30k is a very low target. |
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You know, all of us are doubting for bitcoins work to still retain on its peak of the most perishable coin in the hall of cryptos. And we shouldn't think that because of the lowering of its prices, bitcoin would fall down! We should be bright sided cuz I think its the key for us to be successful right? What you think people? Let me know..
do not overpower bitcoin as the king of crypto currency, because it could fall in price and be replaced by other crypto currency like ethereum. The world came to know about the existence of blockchain technology through bitcoin. It is the first ever crypto currency and all other cryptos are built after bitcoin came into existance. These cryptos are still existing in the market because bitcoin exists. That is the reason why they are called altcoins. I too believe that bitcoin will be replaced by an worthy cryptocurrency in future once all bitcoins are mined and ETH looks like an worthy contender because of its smart contract utility. But I am also sure that current generation will not be alive to see that happening. |
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We are yet to discover the full potential of blockchain technology. Bitcoin is just one of the applications of blockchain. Due to the uncertain legal status of bitcoin, a lot of companies have not yet ventured into it. But if we see more adoptions this year, I am sure a lot of big corporates will start investing in research activities of blockchain. Once it happens, it will open up a whole new area of opportunities to the world. It's good that Yee CEO have understood it and willing to leverage into this sector. But this is just the tip of the iceberg. I believe, blockchain technology will be effectively used in our daily lives by 2030.
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We are living in a fragile world where almost everything can be manipulated through strategic marketing. Social media like facebook or instagram are just providing a platform to execute this. Google is doing such type of marketing since ages. Other social media websites are just nothing compared to Google. If you are an android phone user, you are actually giving away all your personal information to them willingly but unknowingly. So there is a huge possibility of what you have mentioned.
Just to give you an example, if google decides to discourage you from using crypto they can do it very easily. They will simply index all negative news about crypto like banning of crypto and negative statements about crypto. Then these types of comments would be served through their advertising distribution network. If you keep seeing such negative news about cryptos for few days, you will automatically turn negative about it in your sub conscious mind and apparently we have no way to fight such kind of manipulation.
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although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
I believe this is not something new. The central bank of Indonesia said the same thing during last year's bitcoin surge. I am seriously not surprised by this statement and expecting more banks to issue such statement in future as well. Bitcoin is directly affecting the busines of banks hence no surprise that they will try to discourage people from using it. At least they are not playing double faced game as USA. |
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Yes!!! You got it right, very soon Twitter is going to join Facebook and Google in breaking down on cryptocurrency ads. The ban will be against ads on ICOs, cryptocurrency and wallets. It could also include banning cryptocurrency exchange but with several exceptions. Read more here: Prohibit Cryptocurrency AdsAlong with Google, Facebook and Twitter, snapchat also joined the party. Few days later, we will see instagram to do the same. Mainly we will see a majority of the USA based companies will ban cryptocurrency advertising. The reason is not what we think. One of my fellow community members has pointed out a genuine reason behind these bans. These companies are not bothered about our security of funds. Instead they are probably receiving pressure from US government to ban it so that the growth of cryptocurrency can be seized to the minimum level. Being an US company, they have no choice but to comply. |
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These bans are a result of the social media giants being American companies. The line of nonsense about placing the ban due to all of the scammers using the buzz is absolutely ridiculous. The U.S. Securities and Exchange Commission has decided to apply pressure wherever they can in the interest of suppressing the growth and eventual adoption of cryptocurrencies. With google and subsequently youtube following suit on the ban in June of this year ICOs will definitely take a hit without the power of these platforms to disseminate information. How much is yet to be seen after June comes and goes.
I have the same thinking. These companies are not banning ads just because they are worried that their members may get scammed by crypto ads, instead they are being forced to do so. Being an american company, they just want to stay out of the controversy and notching else. Otherwise they would not have left such a nice revenue stream. But I doubt there will be any impact on the crypto prices due to such bans, it will open up a new business areas for the existing non-us advertising distribution platforms. |
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I saw the https://t.me/oneminute_crypto_news that it follows the trends of twitter in cryptocurrency market. The attitude of twitter seems like they have not made their mind yet. ‘The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin’ Jack Dorsey, co-founder of Twitter spoke to the Times of London. But we still remember the report said the twitter will ban the cryptocurrency ad. Will this affect the ad services of coindesk or others? Twitter is a listed company so it really doesn't matter what the CEO thinks of bitcoin. If the stakeholders want to ban cryptocurrency advertising, twitter will have to do it. But having said that, twitter is just planning not to serve cryptocurrency related advertising in their platform. But they are not going to ban or restrict cryptocurrency related accounts. So a shift in advertising strategy will have to be implemented. The crypto related companies will have to move from platform based advertising to community based advertising. That is ideally a good thing because the community will then have the power to reject scammy projects and accept genuine projects. |
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ETH and bitcoin are two different cryptos with different usage. So they can't be compared with each other. Bitcoin is the first ever cryptocurrency and the most valued one. I am sure no other coins including ETH will be able to replace bitcoin till the time our generation is alive. But probably after all bitcoins are mined, some worthy cryptocurrency will take over the top position based on its utility. That may be ETH or may be some other coins. But for now it is not possible. |
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I see a very little chance of it happening. The banking system is strictly centralized worldwide and in China it is directly controlled by their communist government. So even if the governor thinks positively about bitcoin, it is his personal thinking. The bank will do whatever the Chinese government will ask for. |
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In the current quirky world of Crypto, We believe and hope Bitcoin will become a global currency, one that we can spend on "Pizza" the same way we use Visa or MasterCard. What do you think needs to be done to make BlockChain technology a success ?
We certainly hope that bitcoin will eventually become a global currency, but in reality it is hard to happen. Till date only a handful of governments have adopted bitcoin to be mixed with their economy and majority of the governments are still unsure about what to be done. The mass adoption is only possible with government regulation. It may sound wired because you may say that cryptocurrency must be staying decentralized as it is now, but believe me, government regulation will bring in a horde of money into crypto market and open up new areas of payment facilitation business. To see bitcoin is being accepted by the small traders, we need to simplify it and it is only possible with government support. If the majority of the governments deny to adopt bitcoin, it will remain as an internet currency for the rest of its life. |
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