Any advice on what exchange to use from the USA? Asking for a backwards, techless Ozark hick  funding/withdrawal options other than wire transfer? I thought Kraken would be good, but apparently its easier to use from the North Pole than from within US. no advice per se but ill give a quick rundown on coinbase as ive used it since 2013 or so. be aware it gets a lot of hate for reasons but it works. cons: KYC to the max they will track the shit outta you. cant send or receive from any gambling site (pretty sure). will sell all info they can get on you and your corn to whoever wants it. site always seems to have "issues" when things get hot and interesting. thoughtfully sends the IRS a 1099 form in case you forget pros: takes yubikey as 2fa whitelisted withdrawal addys a vault that time delays coins moving (optional) links to bank account, and i think debit cards but not sure on that never used debit card there Didn't roll out segwit or batching for the longest time (bloated the blockchain and inflating network fees) but started pushing Btrash to noobs right away Bought Neutrino a company that sells hacking tools to the governments Created Coinbase Analytics software and sold it to US Drug Enforcement Administration (DEA) and IRS Overall shitty exchange that apparently goes down every time there's a high volatility in the market (actually kinda fun way to spot coinbase supporters when they bitch about the service) etc, etc, etc... look up #DeleteCoinbase Yet for some reason people continue to promote them and try to get noobs to support that company  Mandatory required quote every time there's a mention of coinbase users ... So i see we still have few masochists supporting coinbase  |
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Still nice, but paper BTC derivative != real BTC Doesn't help utility until they start accepting BTC deposits which i foresee to be their next step. They created their paper btc walled garden, and before anyone can sell their btc notes they must first buy them, this is squeezing the supply so next logical step is to let people deposit & convert their real BTC for PayPal BTC derivative sort of like GBTC fund Folks are saying their NY license absolutely requires them to own 1BTC for every 1BTC they sell via their app. This would preclude them being a fractional reserve via synthetic bitcoin would it not? My position on this has been simple from the beginning. Bitcoin does not care who owns it. It does not care how people do business with it. It does not care if your use is legal, or regulated, or not. It does not care if you are an African merchant, or a commercial bank, or a teenage girl, or the worlds largest payment processor. Any of these can use it to whatever extent they choose. It does care (so to speak) about people who try to do a rope-a-dope and route around it's consensus. The first really BIG rush on a fractional reserve could put the company foolish enough to play that game in the ground over night. I have never thought PayPal represents the ethos of OUR bitcoin community, and BitCoin threatens PayPal for sure. So it is in PP's best interest to find exactly the way that they can make the most money out of providing services around Bitcoin as well as using it for their own settlement purposes. Censorship resistance means exactly that for everyone. Idealistically i'd prefer everyone to be their own bank, but realistically i realize that it's not attainable nor really warranted. With great power comes great responsibility so to speak, and there are a lot of people who're not ready nor want that kind of responsibility. We should educate the population of their options and constantly improve UX but my gramma shouldn't choose between not having BTC at all, and having to punch out her 24 seed words from her coldcard on a stainless steel plates inside a faraday casge and then coming up with some ingenious multisig inheritance plans. Sort of like cash and gold, some people prefer to self custody them in safes/under their mattresses , and some prefer to deposit it with a bank. The second best option to everyone being their own bank, is for everyone who wants can be their own bank. I know i've lost few BTC due to my stupidity, I can't imagine what people who constantly forget where they parked would do. As far as PayPal, there's a difference between them being the other side to their BTC transactions and running a fractional reserve. The former, where they don't really purchase the BTC on the market and just show you the balance, in essence means they're taking a huge short position on BTC. I can't imagine that happening and them being a public company would surely require them to disclose such exposure on their balance sheets. The latter where they buy BTC but then lend it out to someone is more realistic but also risky and would have to be disclosed. BTC is not their core business, if they do lend it out they're insuring it with their own $250B market cap as they just can't loose your BTC in a boating accident without whole company going bankrupt. tl;dr it's not a good idea to force your grammy into a Faraday cage, and overall it's net positive for people to get their first exposure to BTC through PayPal, expecting PayPal to enable BTC deposits next, and then enable transfers out their "paper BTC" to other walled gardens like cash app, robinhood wallet, wechat wallet, tencent wallet, yandex wallet, Africa wallet, Europe wallet, every other country wallet etc... Of course all settlements between those walled gardens would have to be with real BTC on lightning  |
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Still nice, but paper BTC derivative != real BTC Doesn't help utility until they start accepting BTC deposits which i foresee to be their next step. They created their paper btc walled garden, and before anyone can sell their btc notes they must first buy them, this is squeezing the supply so next logical step is to let people deposit & convert their real BTC for PayPal BTC derivative sort of like GBTC fund |
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jbreher hitting a new low. on second thought, pushing drugs might still be better than pushing BSv scam, good for him for moving on up |
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this is to all the PayPal news naysayers. Pantera Capital claims that PayPal is forced to buy btc 1:1 as customers push the "buy" button.
Ok, then all good! If that's confirmed by math and science, and Pantera Capital, we shouldn't worry anymore. I really don't see how can it NOT be 1:1. Are you implying that PayPal taking the exposure themselves and covering the other side of the trade when gramma buys paper BTC through paypal? What would be the purpose of that, risk their $225B market cap when BTC swings up and gramma wants to take profit? Pretty sure that's Rule#1 of any financial institution, don't bet with your own money. When they're not party to a trade they make money on volume regardless of the price. |
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if this $1300 dump gets bought ath is near.
edit: does not look like it will.
The dump is strong with this one. Market needed some cool off, slow and steady |
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It's 18th in UTC time so why are we still in $17k  There $18k guess BTC was just running late today |
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It's 18th in UTC time so why are we still in $17k |
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Ha chikun just flipped Btrash, is that the flippening they were talking about?
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How long do I get with them? ... Ahh that's the catch for the rest of your life and you cannot get rid of them. |
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C'mon Bob i did not need to see that
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wtf coinbase is down.
bitcoin dropped about 100 usd as it was going down.
why is coinbase such trash. This aint mtgox anymore
I dunno perhaps, and it's just a theory, because people like you continue to support it?? ... So i see we still have few masochists supporting coinbase |
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Chickun is also pumping could this be PayPal effect on demand  |
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Nullian coredump, Part 1/2. h/t johhnyUA for a link to an article dated 12 November 2020.Red alert: Imminent plans for a mining pool with transaction blacklisting, based on blockchain analysis and, of course, the Diktat of the American world-police OFAC.Does anyone have more info on this? Via the Russian bits.media article, I find that fluffypony thus speaks: https://twitter.com/fluffypony/status/1326594121797087238 fluffypony’s source link (a press release, not a news article—the bits.media article quoted/translated a different part of this):DMG's subsidiary Blockseer Launches Bitcoin Mining Pool Focused on Good Governance, Auditability and OFAC ComplianceV.DMGI | October 29, 2020 VANCOUVER, British Columbia, Oct. 29, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce the launch of a new North America-based Bitcoin mining pool from its USA subsidiary company Blockseer. [...] All users of Blockseer’s pool are required to pass KYC (Know Your Customer) protocols, and blocks posted to the Bitcoin blockchain by Blockseer’s pool will only contain filtered transactions using Blockseer and Walletscore’s labeling data, along with verified sources such as the United States OFAC blacklist for crypto. Blockseer’s data analytics platform has been used by various law enforcement agencies over the past six years, providing Blockseer’s new pool with credible data relating to fraud, theft, money laundering and various other nefarious dealings which will be filtered out of any block that this pool will post to the Bitcoin blockchain.. Blockseer has a US patent pending novel approach to transaction filtering which examines transactions to and from bitcoin wallets which will exclude high risk wallets from being included in Blockseer’s posted blocks. [...] About DMG Blockchain Solutions Inc.[...] DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry, with previous experience working at Bitfury, PwC, EY, Cisco and UBS. For more information on DMG Blockchain Solutions visit: www.dmgblockchain.comOn behalf of the Board of Directors, Daniel Reitzik, CEO & Director For further information, please contact: DMG Blockchain Solutions Inc.Daniel Reitzik Email: investors@dmgblockchain.comWeb: www.dmgblockchain.comCautionary Note Regarding Forward-Looking InformationThis news release contains forward-looking information based on current expectations. [...] That has so many levels of wrongness, I will not even bother with my highlighter. I couldn’t have said it better myself. Unavoidable, we shouldn't fight it but embrace it fully. Help Russia/Kazakhstan, China, Iran, Venezuela, Africa develop their own sovereign/isolated TX filter solutions. |
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That's why PayPal supporting bitcoin derivatives was so important. Sure it's an additional "derivative" onramp, but more importantly, it's changing the perception of BTC from druggies/pornogrophers/terrorists money to a serious stable/profitable investment, yet people bitched about it not passing their purity tests. We're on the right path, this is one of the transition stages, it's just a matter of time. |
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I'd be careful thinking we're in the clear and there's only smooth sailing ahead. Don't fool yourself into thinking that governments will give up their monopolies on currencies willingly and without a fight. |
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wtf why are we still under $20k!?!? This shall not stand
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Better to price bitcoin in lambos, or guess that would have to come after parity Edit: Like, damn man do you remember the time when 1 BTC was only worth 0,07 Urus's? |
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Good volume and still above $15k, this little monster survives on cash, and he's young and hungry, i'm getting a beer
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