I'm going to recommend just dealing with Bank transfers, those are irreversible and you won't need to deal with the kyc or charge back bullshit other companies have
Irreversible transactions and banks don't go well together. I can make something up so that the bank is on my side to undo the initial transaction, especially when I say that I got scammed by a crypto company. Banks generally don't like crypto companies, which means that you have something to exploit here. Miners are quite expensive, especially in larger quantities, so the incentive to pull off a scam is there. Never underestimate scammers. They will find a way to make it happen as long as the money on the line is worth it. It has been happening outside the crypto world for decades, so why wouldn't it happen here? That is true actually, my bad, there where examples of unauthorized transactions at my bank and it was fairly easy for me to get the money back, and only took a couple of weeks. There's actually no real way I can think of where you are fully secure then, except cash trades and cash deposits, which are 100 percent irreversible, banks really do make things difficult for crypto. |
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Is there any platform for this Decentralized Finance (DeFi) where you will make your investments?
Can you mention one so that I can study? I'm not interested in earning interest but I'd like to learn more.
There's a couple, I'll give you some examples Compound Finance - this is probably the most popular one and I've recently starting looking and using it. Nuo - provides daily interest to you by lending out your funds on a decentralizated plaftorm. Fulcrum - regular decentralization lending platform dYdX - a exchange with options to trade, borrow and lend. Don’t NEXO and SALT fall in the same category? Nexo: https://nexo.io/ (6.5% interest?) Salt: https://saltlending.com/And of course celsius? https://celsius.network/I just came to be aware of a new concept (to me) in the crypto space called Decentralized Finance (DeFi). It aims to offer the services of classic financial institutions through smart contracts and blockchain.
One of the use cases is to earn interest, as one would expect in a bank.
I just want to know your critical views whether one should involve is such or not. Would like to know if anyone of you used such platforms?
Many hodlers' coins keep on lying and this might be an additional source of income for them.
Ps: I am not talking about any Ponzi's that claim to multiply your deposits.
I myself think they’re pretty weird. AFAIK, your funds (with most platforms at least), arent actually insured, and these interest rates seem way to high for such collateralized loans imo (but the interest rate goes down dramatically if you put more than x BTC in such platforms, (which is kind of weird because, with a rate cut from 6.5 to 0.8%, i’d either multiaccount in a legal way or simply find another lender, right?)) I think it’s kind of a lazy way of utilizing capital at this point, and i can’t (if they’re actually legit), again, see how they would keep up such rates. Perhaps i dont fully understand their business model, or the interest for such loans.(?) I believe that those 2 platforms are actually no decentralized finance solutions and are more similar to centralized finance options, but those 2 are probably the biggest and longest running lending operations out there. Not 100 percent sure though. They work in a weird way, especially since they might not always been insured, and the interest rates work in a weird way for sure. Just put a little money in the site, don't worry about it that much and you'll usually make a decent sum of money off it. |
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I just purchased a s17 53 with paypal on bitmain website six months to pay no interest. Gear is due oct 20-30
Are they giving product even with out the fees on transaction with EMI option? If there is offer on using the PayPal credit option it will be more useful for the people who wants start the ASIC mining process. I was looking at the products a couple days ago and I was debating whether to make a purchase or not, but I think they where losing sales so they added this new Paypal option. I believe they are eating up the fees themselves since the profit margins are probably high enough, and I don't think they'd get customers if they made them pay the fees. Paying it off in 6 months is pretty cool though! |
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So I was sending Over .03 BTC From my Coinbase wallet to Electrum. I suddenly received SMS on my mobile and email. They want photo ID to complete this withdrawal Right now but I don't want to provide the photo ID. Now my funds locked up for 72 Hours. Unfortunately, your withdrawal of 0.0300 BTC on October 10, 2019 at 09:11am PDT has been delayed.
Your funds are secure, and this delay will not affect the sale price of your digital currency. We have delayed this withdrawal for 72 hours to ensure it is authorized activity. You can view the affected withdrawal here.
If you initiated this withdrawal, no action is required and your withdrawal will automatically complete after 72 hours.
If you did not initiate this withdrawal, or believe it is unauthorized activity, you can cancel it at any time during the delay period. You should also disable sign in for your account. That's weird. I've never seen such small amounts being restricted for unauthorized activity, it seems pointless. Did you use the same device to initiate the withdraw, or was it a new device? It's a decent strategy to have to prevent hacks, but it's too intrusive, a simple email authentication or google authentication access code would have been a lot better and easier to deal with. If your using them as just a wallet, probably get out while you still can. |
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Discussing conservation of mass and conservation law discussing physics which is a branch of natural science, while discussing about money is discussing economics which is a branch of social science.
Natural Sciences can be learned & observed with the five senses. While social science is more complex because humans as their subjects have different characteristics.
Not everyone can make money, especially fiat money, as an exchange for fiat money payments must be generally accepted, easy to store and carry, durable, recognized and guaranteed by the government, the value is stable and not easily falsified.
Meanwhile, when discussing bitcoin and cryptocurrency which is likened to the law of eternity, in my opinion is not the right thing because of different disciplines. If the amount of bitcoin is considered mass, the reaction refers to demand and supply, but this decentralized bitcoin system is different from the law of eternity that applies to closed systems.
That's a good explanation of things, and it showcases the difference in the science and how laws can't apply to everything. Merited! This is quite hard to implement especially in a decentralized and uncontrolled environment such as cryptocurrency or Bitcoin. Fork is there as a possibility right from the very beginning. If it was not, then it would not have happened. But since it is there, it will surely happen especially if there is a huge disagreement among the developers and core team of Bitcoin. But I would be supporting a Conservation Law even in cryptocurrency if ever it can be implemented. Those who would like to create a fork out of the original network would have to create a separate project altogether rather than just fork it lazily from the existing brand.
It would be impossible to implement in a decentralized system, there are simply way too many factors that you need to think about and apply for the law of conservation to work in this instance, this with the quantity of random forks that happen every week, means that you can't apply the law of conservation to this particular instance. |
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This is huge! Probably bigger then any government being open to crypto-currencies, I can't believe the United Nations is now a supporter of crypto-currencies, in my opinion, it is the biggest and most powerful organisation in the world.
I understand that this is only accepting donations via crypto, but it is still a pretty big and welcome move to make, maybe in the upcoming years we'll see actual regulations being set by the UN and they definitely have the power to do so.
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But what about Google's claim to have reached quantum supremacy?
Google may reached the quantum supremacy but it is not enough to break the security of Bitcoin. History has shown us that the will of the people and the masses can never be suppressed by any new tech. Where there's a will there will always be a way.
What do you all think?
People live and keep on developing new Idea. It is the will of people that develops technology so it is reasonable that people will always find a way to beat this technology, Google really is a strong entity in terms of technological advancement and it can change the cashless society like bitcoin in an instant. Im sure that the developer of bitcoin see this one comming most specially if he sees it as a long term existing monetary policy.
I don't think so, since google is not a financial institution and does not hold any power over finance decision. This is true, bitcoin's private keys are very long and can contain any letter or number, and from rough estimates and previous research, it'll take a minimum of 1000 years to break using a lot of computing power in the world. If Google was able to create a computer that was possibly 1,000 - 10,000 times faster then the top computer systems nowadays, maybe we'd have an issue, but right now it's just nothing to worry about. |
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Steak one day and dog food the next? What is he talking about, that's certainly not the Bitcoin I know of.
Love the irony we see of more and more each day. Forbes talking about trust in an asset they would have been more than happy to diss in the years before. A publication from new media carrying/promoting an illustration of revolution and yet talking about someone from the old school of money having a "deep understanding" of Bitcoin.
It is just whatever gets them the most clicks, or the most advertising revune, etc. We saw that approach with quite a lot of news outlets back in 2015, and then after a couple years their opinions where completely flipped and they went from BTC being a ponzi scheme to BTC being a get rich method. Luckily in some countries ruled by dictatorship like in north Korean and Vietnam don't ban bitcoin.
In North Korea people don't even have access to the Internet. They do have mules. Just like how drugs will always find its way into the borders of even the most restrictive countries, something seemingly innocent as Bitcoin will be there too just as easily. The beauty of Bitcoin is that you literally only need a small piece of paper with a private key on it. Sure, if you're in North Korea and you don't have an internet connection to verify the actual balance, it will require you to trust the entity you're conducting business with, but considering the small economy there, it's fairly easy to build up trust. Also don't forget that there are satellites now. Blockstream satellite should even be able to cover North Korea. With some effort, one could also make sure that mules bring in the required hardware to utilize the satellites. If BTC does find itself in North Korea, it could very well spell the end of their rule, it'll help a lot of people find another way of doing Finance and would be risky for their goverments. |
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Yeah, it's a weird donation system, I just got pretty confused and stopped midway when I was going to donate, due to the stuff you said above. I think it's just bad implementation of code that isn't very user-friendly, and it was only required to do simple things (generate new address per customer, with specific BTC amount, address and QR code) so I'm not sure why they are facing these issues. I looked at the address and looks like an exchange one, they probably sell all their BTC per a certain amount (eg, 10,000). |
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Bitcoin mixers have a long history since they came into inception some time ago. They've been a viable alternative for people looking towards privacy within their Bitcoin transactions. While Bitcoin mixers are far from being perfect, they're still one of the best solutions for obfuscating transactions from third parties. The only concern would be that mixing services are centralized as they're provided by a middleman. In effect, this brings a single point of failure greatly defeating the purpose of privacy. We've seen how Bestmixer got shut down by the authorities. They claim that Bestmixer encouraged money laundering activities which resulted in legal action. The truth is that Bitcoin mixers can be used for both good and bad things. Money laundering is mostly done with Fiat than with cryptocurrencies like Bitcoin or Ethereum. Still though, the perception of worldwide governments against mixers/tumblers seems to be different nowadays. Which makes me wonder whenever Bitcoin mixers will be considered illegal by such entities within the future? If governments ban mixers/tumblers, then they could easily do the same to privacy-oriented cryptocurrencies like Monero and Grin. It's all a matter of power and control over people than anything else. What do you think about this?  Bitcoin Mixers aren't actually that bad when it comes to hiding your identity but technically this is really bad for a long future of bitcoin because every satoshi earned through illegal sources is mixed in these mixers and comes out absolutely clean. Moreover, these mixers actually give governments a solid excuse to ban cryptocurrencies as they can be used for money laundering and illegal activities. Even thought these mixers are in spirit of cryptocurrencies as the main agenda of cryptocurrencies is anonymity but still it will be not be a good going if mixers continue to tumble people's money. This just brings us back to the old question of is it worth it to screw over random's privacy in order to catch the bad people using those services? How far is the government allowed to sneak into our lives and monitor us to justify them catching criminals and stopping crime? I'm still under the impression that mixers are not at fault here and it's instead the government's fault they aren't able to catch the criminals. Mixers are still traceable btw, especially if volume is high enough. |
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I might have a rare opinion for people on this forum, but I don't believe that crypto-currencies in their current state is able to match or be better then fiat options right now.
They might have the better technology and be newer, but they lack adoption and people are also very against change and it will be be extremely hard for society to completely shift over to crypto-currencies as their main payment option, and that's why it's stuck in the other payment option that has a lot of enthusiasts.
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I think the point of contention for some is that Binance was founded in China by CZ but due to the regulatory pressures, moved to Japan and then again due to FSB hard line stances against exchange (they have laid down their own regulations) Binance then suddenly moved to Malta wherein they are welcome because the country is really attractive back then and still is at this point.
So for some this is a bitch moved by Binance (moving from one country to another to get away) and this is the main reason why many are surprised by CZ decision to open up a P2P trading recently in China, just saying.
Yeah Malta is an absolute Tax Heaven and along with that pretty lenient with most of the regulations of companies. This is the reason why they chose Malta instead of any other Country. While searching for this I got to know that even Bitfinex operates in Hong Kong but it is registered in British Virgin Islands which once again is a country with lenient Regulations and basically a Tax Heaven. Huobi is operable chiefly in Singapore so basically no Exchange operates in the Mainland China due to Restrictions and this is definitely not bitching it's just safe tax planning. Yep, they aren't registered in China due to their much higher taxes and other regulations, while Malta over the last couple of months has seen a lot of development and has become a crypto haven with their low company taxes and their crypto-friendly government. It's pretty good news now the exchange is once again able to be used in China, it'll probably quickly climb and become the biggest exchange there, and BNB holders are going to be very happy. |
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Pretty exciting news, probably one of the biggest charities in the world accepting crypto-currencies is definetly a big deal, over the past couple years we've started to see a lot of them come up.
How are they accepting BTC though? Is via a BTC payment processor that automatically turns it into USD, or do they have wallets and stuff set up and they are actually going to hold some crypto-currencies themselves?
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Is there any platform for this Decentralized Finance (DeFi) where you will make your investments?
Can you mention one so that I can study? I'm not interested in earning interest but I'd like to learn more.
There's a couple, I'll give you some examples Compound Finance - this is probably the most popular one and I've recently starting looking and using it. Nuo - provides daily interest to you by lending out your funds on a decentralizated plaftorm. Fulcrum - regular decentralization lending platform dYdX - a exchange with options to trade, borrow and lend. |
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I think we've all seen how blockchain and open ledgers are able to be used to forward industries like the finance sector, internet access, gaming industry and a lot more examples.
I think the ledger is probably one of the most important parts if it, having an open ledgers means a lot more transparency when it comes to transactions and it helps people be more calm.
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Decentralised Finance, or DE-FI for short is basically the new biggest thing in crypto, and I was actually very interested in it due to how much noise it's caused.
They work very well, and basically takes everything in the finance industry to a decentralization point of view.
There are a couple services that work very well, like compound finance and fulcrum (these are the biggest ones) and they've always worked well for me.
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This is great analysis mate, worthy of a merit. I've always been interested in technical analysis, but a lot of the articles I've seen are purely based on speculation. I can actually see the trends and your estimations do actually make sense here.
I've always personally been under the impression that history often repeats itself and this entire technical analysis goes hand in hand with that view.
Great work. Hope to see more threads from you mate.
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Price flucations are the small windows of opportunity where people who have very little coins or fiat are able to capitalize of this, and are also able to sell their coins for a high price randomally.
I feel in traditional trading, the amount of capital required is much higher and it's way more stable compared to crypto-currencies with either slow losses or slow profits, much unlike how crypto-currencies function.
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I was talking about this thing last month to a friend of mine who is also into cryptocurrency. There is a big need for different cryptocurrency exchanges to apply for insurance so that in case of a successful hacking and other specified misfortune the exchange will have funds to cover what was lost and can assure their customers that the risks are already covered. Of course, the insurer has to laid down the many legal parameters for the insurance like what can be covered and how to make sure that there are no frauds involved. I am not sure if we ordinary holders of cryptocurrency will soon be able to get insurance for our holdings but this is quite possible as insurance business is really all about allying possible risks in the course of doing business and again it is all up to the insurer to set up the guidelines to follow by both parties involved. I am sure that big insurers are already eyeing on how they can do big business in the era of cryptocurrency and digitalization and soon we can see how developments are taking place in this emerging industry.
There's a need for exchanges to protect user funds, not purchase insurance or do what else to make sure they don't lose money. An exchange or bank should be held responsible for your money and they need to be made sure they are impenetrable otherwise the rule of keeping your funds in your own hardware will never change. Also, no buisness would ever be willing to pay out millions in a hack, unless the exchange would be paying huge fees, and the exchange won't want to do that. Something needs to change for sure though. |
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As an engineer I learn about this Law some years ago, they call it the Conservation Law, and it applies for energy and for the mass... The law is simple: for any system closed to all transfers of matter and energy, the mass of the system must remain constant over time, as system's mass cannot change, so quantity can neither be added nor be removed. Hence, the quantity of mass is conserved over time. And is the same for energy... Now, after that intro lets move to the real question: ¿Why there is no economic conservation law? This is a real problem because is really easy for the human to create money from nowhere, and the best example is a coin hard fork, when we saw the born of bitcoin cash, there was a crazy big amount of money created from nowhere. So, you think someday human will stop creating money from his imagination and create a Money conservation law? Source: https://en.wikipedia.org/wiki/Conservation_of_massYou can't really apply laws to random things, but I do see you point here. During the first Bitcoin cash fork, most people speculated that during the fork, one bcash and one Bitcoin would roughly equal the price of a single Bitcoin pre fork, but this obviously didn't happen. This is the law of conservation of energy and it says that everything in this world is interconnected, nothing can arise from anywhere, nor can it disappear anywhere, under certain conditions, the substance goes into energy and vice versa.
In economics, this can be applied to goods and money. Money goes into goods and vice versa. Also, the goods can be exchanged for another product, which is called barter, and money can be exchanged for other money. Cryptocurrency refers more to money than to goods, since it itself does not have consumer value.
This is a good example, there is the law of conservation applied in economics. |
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