I have lately seen a lots of posts regarding how Binance has introduced trading in Chinese P2P pairs even when BTC exchanges are completely banned by China. The truth is no exchange is operable in China. Binance shifted it's headquarters from China to Malta back when China banned Cryptocurrencies here is the link to Wikipedia page which verifies the fact : https://en.wikipedia.org/wiki/BinanceIt clearly states that: The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.[4] By March 2018 the company had established offices in Taiwan.
So it doesn't comes under the jurisdiction of Chinese Law so there is no need of any Chinese Government permission required by them to operate in CNY p2p pair. It's the people who have to be worried regarding their legality. It's for those people who have started thinking that China has relaxed it's cryptocurrency Laws a bit. Binance can be considered a private property that doesn't fall under the legislation of the government of China. We can all see that when Binance decided to move toJapan after China decided to issue regulations that ban crypto in the country. It's kinda ironic how China declared a ban on crypto but China is one of the strongest countries in mining bitcoin. |
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I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies. However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.
1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.
2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.
3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to. You can keep generating new addresses if your previous Address is compromised.
Number 1 doesn't really mean why crypto is greater than fiat but rather just the opinions of those whom use crypto and view itnin a positive way. Naturally, security is a lot better han fiats since most of the time, you'd be the one in control of your wallet and only you can transact with others. Of course, when you use third party wallet providers, your wallet may or may not be in risk because of hacks. As for transactions done, blockchain techs one feature is anonymity so it naturally shows it when transactions are done. |
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People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip. I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600." Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark? I guess it could be probable? We always see an increase in price during the Q4 of the year. As for observing this as a possible occurence of a bull run, it's probably possible since we saw the price drop of bitcoin to 7600$ which suddenly saw an increase as of today. I totally expected it to move sideways and start increasing by December but what happened was completely out of my expectations. |
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in order to be prepared for any catastrophic event on Earth.
what kind of catastrophic event are we talking about here that could lead to annihilation of all nodes on earth worldwide that we need a space node?!! and what would we need that if the human race is extinct, or is it just extinction of computers on earth  This was the very question that popped in my mind when OP posted about catastrophic events. I honestly believe that if such ane event ecer happened, then basically all of humanity would cease to exist, rendering the usage of nodes in space useless. Of course, if space travel could be developed before such a thing happened, then things would take a different turn. But by then, I'd doubt that space nodes would be a particular problem or even the solutionby then might have exceeded what space nodes could do so there was no need for it. |
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What's your thought about this?
I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;
Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?
Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.
What can you say about this? Or maybe you already experienced this.
I would probably hold instead and wait for the price to increase a bit more to recoup my losses. If I actually started betting, that would make it seem like that the coin I had is the same as others. Technically speaking, it is. But the price of myncoinwas 18000 while the coin id be receiveing would just amount to be around 4000$. This just shows further the mistakes I made so I'd rather hold instead, |
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This really helps the donations made since it produces more profit to help those children whom are in need. We can also view the donated amount publicly which reallty helps in producing the trust since we can see how the agencies use the money donated to them. UNICEF takingbthat step with crypto also spreads the name of crypto which couls potentially help in its adoption. |
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We can all silently pray for the people whom got scammed by PMC. This goes to show what are the risks that are employed when giving your money to banks. Even though this kind of situations happens, people still accept banks and they feel much safer using them. Why? It's becayse it is the most acknowledged form of cash storage(something like that, my grammer is limited sorry). This makes them turn away from the reality of improvement in which scams and lies can be avoided and the future of which is blockchain technology.
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Hello. I have had a couple btc since about 2014 and mainly use bitcoin for gambling and poker activities. In April this year I had a big win at fortunejack about 30 btc I deposited 16 btc to bitstamp. Sold 6 and left 10 btc in there Few days ago went to sell the rest and they've frozen it and thus begins this following conversation by support tickets:: Thank you for filling out our KYC form. We have received your transaction request.
However, before we can properly process your currently pending transaction request, we ask that you elaborate further on the origin of the cryptocurrency deposited to your account, as well as provide us with information and documentation which can confirm your statements, such as bank deposit slips showing deposits to other exchanges, purchase logs, trading history, withdrawal history, or any other documentation relevant to your crypto origins.
Additionally, we ask that you elaborate further on your answer in our KYC form regarding your intended activities on our platform being related to online gambling activities. My response I sent screenshots of my win at fortunejack and an email from fortunejack detailing my withdrawal They then reply this... Thank you for your reply. We have received your transaction.
However, before concluding this procedure, we ask that you provide us with some financial documentation, which can confirm how the funds you used to purchase your initial cryptocurrency acquisitions, that you used in your gambling activities, was acquired or accumulated, such as a salary pay slip, tax revenue statement, investment portfolio or similar. We also kindly ask that you elaborate on how your winning are reported as your taxable income and provide us with your most recent tax statement.
We also ask that you provide us with screenshots showing your initial cryptocurrency purchases and provide us with the relevant addresses where your initial cryptocurrency was deposited.
Additionally, we ask that you provide us with an estimated amount that you would be depositing/withdrawing to/from your Bitstamp account per year (in USD and BTC)?
To which I reply:I do not have any of this information, I have had a few bitcoin for many years, and earlier this year I had a big win on fortunejack casino like shown. You are asking impossible things. Then they reply this: Continuing with this KYC procedure, before we can process your transactions, we kindly ask that you elaborate further on these BTC that you held for several years, and elaborate on their origin by providing us with documentation which can confirm how the crypto was obtained, such as purchase logs, trade logs, purchase confirmation emails or similar. We also kindly ask that you provide us with your initial addresses that you used during your crypto activities as well as provide us with a few screenshots showing the withdrawal of the crypto to Fortune Jack.
If at all possible we also ask that you sign your initial addresses, that you used during your crypto activities, with a message containing this ticket number, where the "address", "signature" and "message" are clearly separated by quotation marks.
We ask you to submit your documents in PDF, JPG, PNG format in a reply to this ticket.
Thank you for your cooperation and we look forward to your reply.
Best Regards,
Jernej T. I am basically shocked and do not know how to proceed.. They are clearly just wanting to keep my money, asking these impossible things. Does anyone have any advice Follow the procedures and if you see that the same requirements are just being repeated over and over again, then that would be the time to act. Basic standards of investigation especially since the transaction came through the internet. It really is quite hard to verify the information since the data was a few years ago plus the information bitstamp has is also limited with how the crypto is a decentralized system after all. |
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Well said. I expect the bull run to occur in mid 2020's but expect a decline in the Q4 of 2019. People are probably afraid of buying now because of the decline that just recently occured, and I read in a few posts in this community that the price could potentially drop more than it is now. Even though I expect it to drop, bitcoin is still a great coin taking into account the years past performance. Keep Holding, I'll patiently await for 2020 to come.
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see https://decrypt.co/9966/bitcoin-cryptocurrency-adoption-ngo-chaarity-reportThe number of charities accepting crypto donations has doubled in North America, Europe and Australia, says the 2019 Global NGO Technology Report.
But the numbers are still small. While the number of charities accepting crypto donations has doubled in North America, Europe and Australia, cryptocurrencies still form only 2 percent of total donations.
Africa has the largest amount of NGOs accepting crypto with 5 percent, Asia follows with 4 percent, while Latin America trails with 1 percent. The real question is whether the NGOs immediately sell their crypto for fiat, or whether they then use it to buy services in the target sector using crypto. lf they did the latter, then adoption would soar in places like Africa. Yay more adoption. Sadly though, NGO's venturebon crypto would be fraught with difficulties because of the amount of funding they can invest on crypto. I believe they should be holding a part and using another to fund their operational at the moment. Financial problems are an almost always occurence NGO's and they really need funds to continue their operations. |
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So, we are moving into a new era where Fiat currencies are getting some competition from Crypto currencies and multiple other payment methods. People are simply not interested in using cash anymore, because cashless payment options are more efficient and also more convenient. < Debit & Credit cards / Crypto currencies / Gift cards / E-Wallets / Cheque / PayPal etc. > So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options. Is there still a need for Cash <Fiat currencies> in this evolving world? I can think of several scenarios where Fiat currencies are still needed, namely : 1. Where there are no electricity infrastructure. 2. Where it is not safe to carry expensive smart phones. 3. Where there are no access to the Internet. 4. Where there are a high number of illiterate people. 5. Where there are people with disabilities that presents challenges for electronic payment options. I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies. Please give your opinion and participate in the Poll.  It is still needed to be fair. Crypto can potentially usurp the role of fiat in the future, but that is still very far. Crypto at the moment is just at its infancy. Besides, government and crypto still dont meet eye to eye at the moment so removal of fiat currencies would cause major mayhem across the globe. Plus, letting crypto take the role of fiat with how most people are still ignorant of its existence is pretty much impossible. Influence of crypto should slowly spread over the globe and only then can we start the improvementsbin terms of its role as a virtual currency. As you said, issues still plague the usage of crypto as a fiat currency but that should be patched up in the future with how technology keeps on evolving. Long story short, I believe it can, but not now. So at the moment, both should co-exist and let each other prosper. |
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Most people would actively shun decentralisation. They don't want the hassle or responsibility. They want an easy life and someone to do the hard stuff and moan to when it goes tits up.
Even at this still earliest of phases you have a very, very vocal element who want to chuck what decentralisation there is away in Bitcoin even though if they do the value proposition is nil.
Maybe in future it will be possible to live a life with many more of those principles in play. You'd definitely remain in a microscopic minority.
Indeed. And then they just rant and rant about how institutions fail tondo their jobs when in actual fact, institutions are doing their everything but it's just couldn't handle the amount and couldn't cater to everyone all at the same time. There are also a lot of risks involved since no controlling party could manage the information the world has. This would make researches a bit kore difficult to perform or even world stats would become inaccurate unless everyone was asked to be involved in a survey or some sort. |
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This can be a push for the bitcoin price in 2020. When the supply is being slowly limited, bitcoin should naturally increase its price slowly. I'm expecting a surge in prices in 2020 even if only for 2 3 months and gradually steadying once again, showing a side graph. Very helpful infographics to people whom dont know what halving means and can potentially educate them to the steps they could follow for the following year.
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
New money would naturally attract itself to the market since that's how basically the market works. As for manipulation of exchanges, I'd doubt those core coins could easily be manipulated. If it ever was, the community could easily observe and determine what is happening and report those exchanges while giving them negative ratings. As for those coins with low participating community, exchanges would naturally nanipulate them for their own profit. |
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Hi guys, I am curious to know what for you is the best average btc price. Thank you so much everyone who will answer me.  If your looking for the best price to buy bitcoin, then there isn't really one. Id recommend investing in it for the long run like what previousbposter said about dollar-cost averaging. That'd be one of the neatest ways you could ensure investment in the long term. If your looking fot a short term investment, wait till the price drops and buy then just resell at a higher prices. That's basically what it. There isn't really an average price since the market is a volatile one |
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I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.
So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?
I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.
Gamblers just get on the groove and would naturally want to bet more when price pumps cause they could win much wore profit in bettings. It doesn't really affect it that much but it could be one factor to attribute to during bull market and bear season. Besides, more and more people are integrating themselves to the bitcoin community so id expect that more gamblers would join and contribute to the bull market of bitcoin. |
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Bitcoin is good as currency with faster and easy for transfer your bitcoin from one wallet to other wallet around the world, if use your money maybe little difficult if sending money to other country and take several day for sent it, with using bitcoin or altcoin just take several minutes your payment have been sent.
The OP was discussing why bitcoin isn't as good as currency. With the current currency system of the globe, the necessary excess printing of money is shown to be needed in the economic development of our country. Now, if you were to view and compare it with bitcoin, with how bitcoin has a limited supply, it reduces the demand since bitcoin is volatile in itself. It can buy a product today for 1 btc but you can buy three of the same products tomorrow with the same amount spent of 1 btc. This makes people rather just hold on to their coins and wait till the price itself can accommodate their needs which makes the supply higher and higher. This makes the price lower since there isn't enough demand for it because people are holding their coins. It isn't about speed or anything like that, but its effect on the economical situation of a country instead. |
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Many Bitcoin enthusiasts are of the opinion that cryptocurrency is unstoppable. The basis for this belief stems mainly from the decentralized protocol that maintains the Bitcoin network. From its original design, the distributed ledger of Bitcoin is maintained by participating computers from different parts of the world. A perceived alteration of this system is what has generated fear among many Bitcoin users. Some people even believe that the reason behind this fear is the one thing that could stop Bitcoin. There is a perceived original structure of the Bitcoin network, at least by the early adopters. This perception is that individuals across the globe will be able to run Bitcoin nodes and mine the cryptocurrency on their personal computers. This was the system in Bitcoin’s early days. However, because Bitcoin mining is now a competitive exercise, specialized equipment began to find their way into the industry. Can I Still Mine Bitcoin As An Individual?Gradually, mining Bitcoin with a regular PC became a wild goose chase. Within one decade of Bitcoin’s existence, miners have moved from PC, to GPUs, FPGAs, and today ASIC miners have dominated the industry. With time, what was expected to be a level playing ground with minimal entry requirements became more and more sectionalized. Unless you have an ASIC miner, it has become almost impossible for you to compete in the mining network. The competition did not stop there, as even among the ASIC hardware users, the bar has been raised. The fear of many Bitcoin users is that the regional balance of mining power has become chronically one-sided. Because of infrastructural availability and other fundamental factors, over two-thirds of the mining hashrate emanates from China. What this means is that most of the mining equipment within the Bitcoin network is installed in and around the Chinese region. Is China the one thing that could stop Bitcoin? https://twitter.com/PlattsburghBTC/status/1175970888006733826?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext%252Fhtml%26key%3Da19fcc184b9711e1b4764040d3dc5c07%26schema%3Dtwitter%26url%3Dhttps%253A%2F%2Ftwitter.com%2Fplattsburghbtc%2Fstatus%2F1175970888006733826%26image%3Dhttps%253A%2F%2Fi.embed.ly%2F1%2Fimage%253Furl%253Dhttps%25253A%25252F%25252Fpbs.twimg.com%25252Fprofile_images%25252F638232680639823873%25252FZ60ZA2Of_400x400.png%2526key%253Da19fcc184b9711e1b4764040d3dc5c07Why Are Most Bitcoin Miners Located in China?Although Bitmain, the main manufacturers of ASIC miners, is based in China, other factors that attract most of the Bitcoin mining to the region include the cold weather and cheap electricity. While these are the infrastructural reasons for locating Bitcoin mining equipment in China, it only halfway explains why so much hashrate is concentrated within the region. The majority of the hashrate (over 70%) is shared among just a few mining pools and many consider this so contribute to why China could be the one thing that could stop Bitcoin. Here is why: Since Bitcoin mining has become very competitive, many independent miners find it difficult to carry out Bitcoin mining activities profitably. It became common that individual miners were running their equipment and consuming electricity without getting any rewards. The more efficient machines seemed to be taking all the money in the network. This gave rise to what we know today as Bitcoin mining pools. Individuals or groups are now pulling resources together to build gigantic mining farms. This results in more efficient machines that can mine blocks more frequently and the rewards are shared among the participants. https://www.youtube.com/watch?v=K8kua5B5K3IThe Bitcoin mining pool system has become so organised that an individual from any part of the world can simply subscribe to a Bitcoin mining company and their mining exercise. What interests us here is that the biggest of these companies and their Bitcoin mining farms are located in China. Technically, this looks like a structure that defeats the original design of a decentralized network. To worsen the case, it is happening in a region that is spontaneous with regulations and sanctions, as we’ve seen before. Why Is China So Powerful In The Bitcoin Industry?China has had a strong presence in the Bitcoin ecosystem, especially from the early days. Most of the big exchanges had strong bases in China, and the awareness of the technology in the region was second to none. The regulatory stampede on exchanges in the country in 2017 was a sudden move that did not necessarily come as a surprise. The socio-political atmosphere of China and the way its government executes economic policies is giving Bitcoin users reasonable concern. With about two-thirds of the Bitcoin mining hashrate based in China, it technically leaves the entire network at the mercy of the government’s policy makers. F2Pool, AntPool, BTCC, BW Pool are some of the biggest Bitcoin mining pools in the Bitcoin network, and are all located in China. It is also suspected that a reasonable share of the unknown pools within the network are also situated there. Although many Bitcoin users do not care too much about where the Bitcoins are mined, their concerns remain mainly on where to buy the mined Bitcoins. Platforms like Vertex.Market ( https://vertex.market) which offers peer-to-peer trading allows traders to stay within the original protocol of the network, and trade Bitcoin seamlessly with traders around the world. And the network’s protocol must not be neglected. Bitcoin is created as a decentralized peer-to-peer network. Anything that threatens this protocol will not be good for the cryptocurrency. Although many people seem not to be distracted by the lopsided regional hashrate allocation, there are those who really think that it is one thing that could stop Bitcoin. https://medium.com/@official_83664/the-one-thing-that-could-stop-bitcoin-3bb9da7c0772I really doubt you can consider stopping bitcoin with the cause being of China. Although China holds a lot of miners and is one of the strongest presence in the bitcoin industry, indicating that they can stop bitcoin is just not possible. Even if they stop, hold their coins or freeze their market, its not like they are the only ones participating in the market. Besides, they aren't the only country with a strong presence in bitcoin. If China held 50% of the supply of bitcoin, they could potentially freeze the market and crash it but they don't. They are just a strong presence and that's it. And realistically speaking, why would they even freeze with 50% of the supply when they could create a profit of off that right? A lot of countries could replace China as a strong presence. It's not like it's already set in stone that they would potentially be a strong presence forever right? |
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To be honest, CMC has been accused of manipulating prices and display fake volume several times so i wouldn't be surprised if they messed with something yesterday.
Totally agree. With how much accusations CMC has received, seeing one or two reports that say they manipulate the prices isn't really annew thing anymore. OP should probably check other exchanges instead of CMC. Seeing that a lot of accusations were already made about it, continously using the same site would just make the data you receive less trustworthy so might as well use another exchange to view the prices. Besides, bitcoin price doesn't necessarily showbthe same prices across exchanges. There would naturally be some discrepancies that could be found. |
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I realize I am actually an idiot but I didn't check how dangerous it really is before doing it. Anyway all those services seemed legit.
I sent passport id photo for kyc on skrill and paxful, and also bitcoin exchanger in estonia(EU). I picked the last one on popular site bestchange.com, it is working for 1.5 year...
Do you think I have to change passport or this is just a panic? I am thinking about this all for several days...
Bro haha you just removed the idea of annonymity with what you did right there. I'd ask of you to edit your information temporarily in your social media accounts and not post anything about your travels and whatnot for now. Just to be on the safe side. Also try not to send your idphoto in any type of exchange site, ever. Again. Not unless it's a trusted and official one where you can guarantee the safety of your private information. |
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