No serious service in this world is going to accept a scanned copy that was tampered with but cutting parts from it. None!!!!!
I really can't find any supporting blog or documents for the number 1 in the list. I have seen in some (about 30%) of the ICOs I study that they REQUIRE hiding of identifying number in the ID before submission. So I guess this is a real thing? I found this just now, in a website here http://www.austrac.gov.au/part-b-amlctf-program-customer-due-diligence-procedures"a reporting entity could verify the customer’s name by referring to their driver’s licence that shows the customer’s first name, middle initial, and family name. " But it says nothing about the covering of some data.
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Leaving your job without enough money to support your daily needs while waiting for you to earn in crypto is a disaster. Because earning here in crypto takes some time. Especially if the market is in red. Even the expert on daily trading is having a hard time making profits in bear market.
I agree better be ready in this kinds of shift. Be educated and do your study. You will never no what will happen but I think this is one of the best choices to be rich.
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These long term investors have made the smartest decision of their lives to short Bitcoin when the time was ripe, and they are now holding MORE Bitcoin than ever before due to the correction that followed afterwards. Only the foolish would not act and wake up their sleeping coins to benefit from what can be seen as one of the best opportunities in modern times. 'Core' hodlers hodl more 'Core' than ever before. Whales power. I hope they release it in the near future as they reach their target and let bitcoin for the masses. We will need those supplies.
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So does this means it is no easy to use crypto on US? This will be a great news then and will add to bitcoins mass adoption.
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Will be updated soon!
KYC or Know Your Customer procedure is now a requirement on most ICOs. It is used to check customers or investors and also for them to comply with AML or Anti-Money Laundering Laws.
Most of us don't want to do KYC for reasons that it might leak or endanger our privacy. But I saw procedures that may make our data and personal documents still safe.
What I want for this post is to actually build a list of what are positive with KYC on the customers or investors view/side or what they can do to protect themselves. Let me add one;
1. You can HIDE your identity numbers in the images of the Documents you will send. You can only show; a. First Name b. Last Name c. Address d. Nationality These are the only data needed. This will somehow protect your personal referencing data and protect against some unwanted legal usage.
Help me build this list guys! As we all know we will need to adopt with this kinds of regulation. We all want Bitcoin to succeed and for that, I believe it needs to be legal.
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Governments of many countries are practically declaring war on cryptocurrencies. Why is that?
There is a riot between bitcoins and a government that is not accepting bitcoin today with the birth of many electronic coins that make them affect and dominate each other as they will say they are fighting. Each side of the picture, but in fact, they complement each other to grow together Everyday is a battle for crypto as we dont know what will happen in the market, we better set ourselves updated to know whether we will be able to earn whenver there are fuds, dumps and pumps. And also be ready to adopt with the new regulations such as taxes. Government is still powerful and if we want bitcoin to succeed mass adoption, it will need to be legal at all forms and cases.
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There have been no reported cases of a hardware wallet being hacked remotely without tampering.
Hardware wallets are offline in a sense that they never expose your private keys outside the device itself (the device itself signs your transactions so it never needs to be exposed anywhere else), so unless a massive exploit is able to change that somehow, they're going to be impossible to remotely hack into. They could possibly be cracked with physical access though.
So yeah, to summarize, it has been impossible to remotely hack a hardware wallet thus far, but that can change at any point in the future. They're one of the safest ways to store your crypto, but always keep in mind that you should never be storing all your eggs in one basket.
I agree, this is why continuous test are being made are forced to exploit vulnerabilities in such hardware. Through this they occasionally implement updates. So I suggest to keep the firmware updated from the manufacturer itself.
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There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
Its not necessary but to think off that it would be nicer to engage on more altcoins since it do extent the possibility on making money just like we do experience on engaging into bitcoin. Come to think that every people have its own intellect even though lets say we wont need altcoins but there are minds who would really push that they would create a new coin and would plan to go the same path as bitcoin.Its just like that because we do have dreams to get rich either as a developer or just an investor. I believe also that it is all about the "I want to be the first" thinking and the money. If you come think of it, bitcoin can be used in almost all this developed and being developed platforms. I believe also that it is because maybe it is easier to develop and use blockchain technology using altcoins. Considering the usage and other smart and automated processes. But still Bitcoin can be used for these kinds of applications.
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I invest on alt coins at a specific amount earned or at it all time high, or if even the coin will succeed. After that I convert to bitcoin. Just any one here, I think bitcoin has more potential. This is because of its load of quality devs.
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Can your government really be able to track if you never declared gains made from Bitcoin transactions?
Your government, like every government in the world is monitoring all bank transactions, that's enough for now. With time and effort, I'm sure a government could also monitor the blockchain, but I guess this isn't a priority as of today. The European Union is already talking about it, though. I hope they include deduction of this taxes in exchanges. So it will be easy for us to do taxes. But if that can't be done, I hope they release guidelines.
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Are those with KYC or in ICO listing ICOs can be trusted? I have not heard or seen an ICO from listing being a scam, well they tend to be longer than ordinary ICO.
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Let me avoid the technical aspects to make things easy for all readers.
So someone said that America's NSA has this great computer(quantum computer) that could easily hack Bitcoin private keys. I really doubt his claim but I know for sure that certain computers like the most powerful Super Computers are within the reach of some of this Intelligence organizations. Do you think such computers can crack any security codes put in place to make Bitcoin very secure?
The thing is, on paper, everything is hack-able. But when talking about hacking(or brute forcing in this situation) bitcoin private keys, I think it will take a very VERY long time for them to be able to score a private key. Were talking about long enough for multiple generations of people to die and be born. I thought so, I've seen in an interview that bitcoin is really hack-able but it will cost a lot of dollars to do so.
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I prefer bitcoin because it has more adoption than litecoin. Litecoin wil still need to be usable and be accepted by small crypto to fiat exchanges.
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Are decentralized exchanges included? I mean how are they to manage decentralized exchanges? The maintenance devs?
This is a very good question. I think once the US and Russian have spoken and asked exchanges to ask for personal data to their users, one by one, decentralized are going to be forced to ask their users as well. The most concerning part, under my point of view, is about the control. Exchanges are not only about selling your crypto into cash (dollar, euro, whatever) but about buying/selling alts. Crypto was made with the intention of avoiding and giving an alternative to the banking system, by being decentralized, so the legitimacy resides in the people, the users, the miners. But, if the use of the crypto is regulated, then, every transaction will need to be approved by the government, for the tool, meaning the exchange, is under its control, though. So, I 'm afraid maybe the time with no alternative will come soon, and many crypto users are going to be obligated to share their personal data. Regarding the face-photo, I can't fully understand why are they asking for that. There's no online bank asking for this kind of images, or at least, I can recall none. They ask for your ID and your place of residence, as well as for a phone number, but I 've never been asked for a face-pick before. That's concerning to me. Maybe I've just read too many times Orwell's 1984, but, still, I can't see the point of the need of knowing with such a detail the shape of your face... I actually don't know also, well if its a valid ID they are asking then it is already shown. Dual verification maybe? So in the future may come where you will need to verify your self to use an exchange. Sort of like fiat money. Then bitcoin will be like fiat money with added fast features. More of like upgraded paypal?
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wow, facebook will launch its own coins, so great news, how can we join the coins ico? I believe if it launch, the price will pump !
Really Dude? Why would a huge multi Billion Dollar company like Facebook need to run a ICO? They have more than enough money to dedicate a whole team of developers and marketers to work on such a project. They do not even have to advertise the project, because they already have a huge target market and a platform to launch it on. If this is not FUD, then I can understand why they banned all Crypto advertisement on their platform. {They just eliminated the competition} I agree, they will not run a campaign or an ICO, its mostly for those startups and for funding. Facebook has many money for it surely. For OP, i've not heard of Face Coin actually, and as checked the article I didn't even saw face coin.
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Unfortunately, few people understand how to account for cryptocurrency gains on their tax returns.
I agree, but wasn't there a tax added to a transaction when you are transacting in a country with bitcoin is legalized?
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It is quite realistic, well that is if you are that good at Investing, Trading, and Studying ICOs.
But prepare 6 months money, Lots of reminders, Note all you're studies, and a lot of hard work.
Why not work and then invest what you earn to businesses and investments. Not just profit from bouties?
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Governments can regulate exchanges This will make a harder barrier to entry for Bitcoin. The governments can regulate exchanges where people would go to actually go to buy their Bitcoin. In this sense, regulation likely would yield positive results in the long term. It legitimizes Bitcoin as an asset, and is welcoming to institutional investors.
I agree the government cannot regulate it straight, but it can regulate those who want to use it. I see this regulation in the to happen more strict and in the future. Making bitcoin one of the traditional assets.
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