i said that since years ago that all the exchangers are doing the same. Fake volumes in order to manipulate the price and the potential clients. I have to remember Bitfinex, Bitstamp, BTC-e as well along with all the chinesse exchangers. You will see the real BTC market when these exchangers will publish the IN and OUT bank wires(real time)  They will never do it because you there are only "few" not thousands of transfers as you imagine. Example : Bitfinex has up to 70-90 bank wires per day which is equivalent with nothing What is really odd is that the people are accepting that, price manipulation. Do you know how much "you lose" with that? It is a FRAUD and almost nobody is saying a word. I don't see Coindesk saying" OKcoin and Huobi and other exchangers are doing frauds". Why? YES, big interests. |
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because he wanted to become reach as miner shit when almost everything related to BTC is fishy and most likely a scam  But he did due diligence as he said in a previous post )) |
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Because GBTC is a derivative of bitcoin and derivatives are always way more pumped up than the base asset.
Its strange , but it looks normal. In no way this signals that the BTC price will go up there as well.
Wats ur definition of GBTC It is technically a derivative of bitcoin, because it derives its value from the bitcoin economy. what does create the so called "bitcoin economy"? the black market, the HYIPs? |
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The Chinese are buying like crazy,they know that halving is approaching and that this is even more push price up.At some point they will start selling for sure,this is only game for profit and they are very good in that game.How much price will drop after all it is difficult to estimate.
how they can buy like crazy when their banks are not allowed to deal with exchangers? The banking institutions and are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. So, how can they buy or sell? According to the chinesse volumes(if someone is really idiot to think that they are real), we are talking about many millions per day IN and OUT BTC. How is it possible to deal with such amounts through banks while the banks are banned to deal with exchangers? http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions |
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chinese miners are pumping btc to keep it profitable to mine a little longer and cash out before the halving
great point. someone realize that this is a price manipulation which has started from chinesse exchangers. fake volumes, fake companies, even their shit is fake in China LOL |
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WTF capitalization? BTC is not a company. It's like you say " Gold capitalization" which is a NON SENSE ! pffff. Only kids on this forum?  |
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i think you are looking to BTC as being a real economy and not what it really is. the exchangers are manipulating the price as they want. period. yes, China "owns" Bitcoin and you can see that now. Their miners said "we want a higher price because the shit halving is coming" and it was done. what US election do you dream? LOL BTC has nothing to do with these things. BTC is pure speculative and a bunch of shit exchangers are making the market. if you want to live in an illusion, go ahead |
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Coinbase recently just canceled my purchases after taking the money out of my bank for several days lol. Is this some kind of a joke?
did you call them? |
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FB, Snapchat, and Instagram understand that the demand is simply too small. In order for demand to exist, the consumer must have motivation to use bitcoin. Currently, there is no motivation for a consumer to exchange fiat to bitcoin so he can buy something he could have already bought with fiat.
That's absolutely full of contradictions. One sentence the demand is too small, the next it doesn't exist. Yet exchanges have at least some credible trade volume, no? I suspect that constitutes demand. You state no motive exists for buying Bitcoin, so presumably everyone who has bought Bitcoin up to now did so for no reason at all? Is that the reason you personally bought or hold BTC, nothing? "Carlton Banks, no, exchanges have FAKE volumes(99% of them). This is the problem and it creates the illusion of a BIG market. In reality is that BTC is a very, very small one. you are an old user here and I am sure you are not dumb too . how can you say that "yet exchanges have at least some credible trade volume," when their orderbooks are fake? a "new e-currency user" may that but you?! come on!  From all the chinesse exchangers to Bitstamp, Bitfinex or BTC-e, all the orderbooks are fake |
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I tested OpenBazaar right after the release and I have not used it since then again. The main reason is that it is work needed to get it run. You only do this work when are very privacy affine or if you have many thinks to sell which needs a particular privacy, for example (semi-)illegal stuff or to avoid taxes. For occasional customers or sellers the site is not easy enough to use.
it's useless and it costed 1 mil USD or something like that. how stupid can be someone to invest in a shit like this? pfffff LOL |
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YES ! most of the BTC market is based on these HYIPs(ponzies) |
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Advertising will surely help, but the main thing is all the effort that some one needs to do in order to get it launched. People are hesitant when it comes to installing stuff. Also, Bitcoin related market places don't have a good name due to the media saying "Bitcoin is the currency of deep web market places". And there surely are more reasons of why it's not really taking off.
Not really. The Bitcoin economy's problem is fundamental as mentioned in my post above yours. When BTC is mostly hoarded and stored then Bitcoin's economic growth is impossible. But its value will rise, that's for sure, since it is mostly treated as an investment vehicle (ie a commodity like gold) rather than a currency. And I wonder how much it all depends on China. If most coins are created, tradet and stored in China, the rest of the world gets more or less pointless. Next logical step is run 90% of the nodes in China and finally do the coding.... correct ! China owns Bitcoin in a way or other. the exchangers are manipulating the price, the miners are "creating" BTC. Nodes? they can buy 10,000 servers and it's done |
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what it can happen in a Sunday(banks are closed, people have other preoccupation in weekend than shit BTC) so that the BTC price to fluctuate so much? what "market" is that? lol |
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It's not the time to sell your bitcoins . However , it's definitely the time to withdraw your funds from some services. and when I say "services" , I mean those who promise you to give you interest daily for the next x months or they claim they are doing mining for you or something like that. Why now ?No one can deny the fact that bitcoin price is increasing too much lately ... which makes those services lose some of their money and think in a way to stop their losses : 1. We got hacked scenario 2. Simply disappear and never come back. Some examples :- Coince.com : With over than 785,633 users , they give you 3% Daily Profit and I have to say that it looks the most legit one because of the video testimonials by users and also the beautiful web design but we all know that ... If it looks too good to be true then it's probably a scam. (Long term scam) - They are so famous in MoneyMakingGroup forums.
- HashOcean : with 615,662 users receive their profit every day. I never used them myself but I can that some users are making a good profit from it. I'm not sure if they ever proved that they have actual mining equipment's or not but if I learned something during my journey in the forums .. is that we shouldn't trust a cloud mining company.
- Exchanges in general : No one wants to see the Mtgox scenario happening again so I assume it's a good reason to withdraw .
I'm making this topic so people don't get greedy and start investing in those scam websites. I just don't want you to lose your coins and cry later. Use your brain and stay away from scam , as for exchanges ... trade and then simply withdraw instead of keeping larges amounts in your account. Agree! when you buy and keep the funds in an exchanger wallet, they give you numbers on a screen. if you buy now(when the price is high) and you will withdrawn when the price is lower, the exchanger is earning the difference. stay calm, nobody else(other exchanger's client) is buying your bitcoin the exchanger is buying and selling. the things (orderbooks with buying and selling) you see on your screen it's a lie. i know these things from certain source(a BIG exchanger). |
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it's not about Bitcoin. It's about that an exchanger is doing financial transactions. They are receiving money from customers for doing a FINANCIAL service. You need license for a such thing in all the countries. There is NO grey zone.
I don't think these things work the way you think in a lot of places. For example, for withdrawing money in a country where Bitcoin is in the grey area I don't have to pay any kind of tax. Example: you need a financial license to trade gold even it's virtual gold. Gold is not money... I need to have a license to trade my FarmVille coins? yes, you need a license to trade FarmVille coins to cash and cash to FarmVille coins |
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I guess you don't own a bank account anymore and you pay all your expenses via BTC. To all hypocrites, stop lying. All of you have at least one bank account, most of you use Paypal and other payment processors as well and BTC is just a way to make some pocket money . Yes, it's a real business for others but this is minority. In short, there is a lot of lie on this forum. Yes, maybe there are few BTC fanatics but those who are saying that the banks are "bad", I challenge you to tell me how you live a decent life, how you can pay your food with BTC only. Remember that all the "seeds/round 1, round two", "VC funds/investors" and so on are real money/capital injections made via banks. Without these and the black market, BTC shit won't exist. There's a lot of people who will actively use cryptocurrency wherever possible. I only pay for things with my bank or PayPal when I don't get a choice, or if I severely don't trust the seller (what's that? there's a risk this company has beyond shit customer service and RMA? PayPal can force their hand and get me my money back). I currently pay for my domains, hosting, my phone bill, games (via steam and humble bundle), and computer parts (quite a few big retailers accept bitcoin now, inc. Scan UK for computer components and AdaFruit for various electronic kits) all with Bitcoin. Key reason being that I don't have to worry about the company leaking my credit card details, or sneaking recurring payments for no good reason, and it also means that I don't have my bank, or PayPal recording all of my purchases and sales, thus giving me privacy similar to actual cash. The key reason to use Bitcoin, is that it's the closest thing to physical cash (unless you live in NYC...) for the digital world. I can pay for most things usually without the seller requiring any personal details whatsoever. (for example, if you pay for Steam or Humble Bundle with Bitcoin, you don't have to give any address, where-as PayPal and Credit Card both give the seller your full name and address, and sometimes your phone number). This is great because it offers much more privacy, and of course helps to protect you against identity theft. You can't force them to change their mind, but you can quite happily say "I told you so" when their bank, or something like PayPal freezes their account for some stupid reason, or they become victim to credit card fraud, which is all too common because every time you make a purchase you're practically giving the key to your bank to that website. you are living in a country like USA or UK(maybe) but many, many other people are living in other countries where BTC is not accepted anywhere . Yes, your credit card may be stolen or you can be scammed by someone who does not ship the item but you can make chargeback. It works, believe me. Also, what do you do when your BTC is stolen? Nothing. You just sit and "cry" and then "you" come on forums whining that a hacker took your hard/easy work BTC is for a niche and nothing more. it will never become more than that. |
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Because those are all corporate scumbags that sell user information for profit (or influence). The last thing they want is to empower their users (or neuter their government crony friends), hence they're not interested in Bitcoin.
would you do it in their place? they have billions. Who cares about BTC users? 2-3 millions at most |
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I guess you don't own a bank account anymore and you pay all your expenses via BTC. To all hypocrites, stop lying. All of you have at least one bank account, most of you use Paypal and other payment processors as well and BTC is just a way to make some pocket money . Yes, it's a real business for others but this is minority. In short, there is a lot of lie on this forum. Yes, maybe there are few BTC fanatics but those who are saying that the banks are "bad", I challenge you to tell me how you live a decent life, how you can pay your food with BTC only. Remember that all the "seeds/round 1, round two", "VC funds/investors" and so on are real money/capital injections made via banks. Without these and the black market, BTC shit won't exist. |
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You're not reading my replies. First, you based all your points on the basis that you have to have an MSB, I showed you one way that's not true. Now you're assuming that the only two ways are obtaining MSBs or getting a bank charter. The thing you're missing is that there are multiple (as in more than two) ways of being compliant with fincen, as I said in my first and second comment (apparently you glossed over both) not just MSB or a banking charter. Your entire argument is based on flawed assumptions.
I have read your replies but you are elusive. You told me that you can have a bank charter without being MSB and I told you this only works in few states and not in all 50. Yes, it works if you are a bank charter in all the states. Are you? I asked you how can you can be registered in BVI without having a license in BVI(as the local law requires) and so on. You are welcome to explain in few words how you can work in USA, BVI or EU without being MSB or financial licensed. I am sure your clients and your potential clients want to know "who you are". Compliant with Fincen it doesn't mean just being registered with them. Any company worldwide can register with Fincen but that doesn't mean that you are a MSB. That's why I am curious(I am sure that many others) about that. Coinbase, Circle and others who already have licenses in almost all the USA(Circle in EU too) may be curious too. Are they and their lawyers so dumb to pay A LOT of money for being compliant in each state from USA? Maybe they are and that's why please (in a friendly manner) explain. Thank you. |
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hey, what about this: RELEASE: PR7380-16 June 2, 2016 CFTC Orders Bitcoin Exchange Bitfinex to Pay $75,000 for Offering Illegal Off-Exchange Financed Retail Commodity Transactions and Failing to Register as a Futures Commission Merchanthttp://www.cftc.gov/PressRoom/PressReleases/pr7380-16Is Finex accepting US clients? That's dangerous. We do accept US clients and have settled any alleged violations with the CFTC, made the changes required to become compliant and US customers can deposit fiat, trade on margin, and withdraw fiat same as before. Don't mind me asking, but can you prove that you are "Director of Community & Product Dev. @Bitfinex.com" ? Sure, how would you like me to go about that? You can look at my history and i think it's pretty clear that I am who I say I am. But i'll post a comment in https://www.reddit.com/r/BitcoinMarkets/comments/4mlujc/daily_discussion_sunday_june_05_2016/ with my verified reddit account. Acorrding to Fincen, you need to be a licensed MSB in each state from USA if you want to accept US clients; This isn't entirely true, there are different ways you can go about it. For example, itBit doesn't have an MSB for every state but are able to accept US customers because they have a bank charter. As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's. could you please provide that "bank charter" for your company? the product you offer(in your case, products) has to be owned by the bank to get the 50 States MSB exemption. also, if you get a trust charter in New York it doesn mean you qualify for all the STATES (and you accept clients from all USA). The laws that permit banks to open branches in other states through nationwide reciprocity don't fit the operational model of "Bitcoin exchanger" or even a trust charter. Example :Louisiana, requires an out-of-state bank to be a "federally insured depository" institution to qualify for a licensing exemption. Also, you operate in EU where a financial license is mandatory as well. Do you have a such license for European Union (as...Circle) ? On your website, it's saying "a) where you are a U.S. Person, BFXNA Inc. BFXNA = a BVI company BVI is a country who requires a financial license for your kind of activity. I did not find your company along BVI Financial Services Commission's list. Why? How can you have a bank charter in USA when your company is registered in BVI? If you own a trust/bank charter in USA you are require by the banking laws to provide this information on your website(in a visible place). I don't wanna go in details and to mention that you don't have any physical address on your website. A bank charter without office Please provide the proof for your words: "As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's"I never said we had a bank charter, you just jumped to that conclusion without reading the next sentence. I said that there is more than one way to approach regulation as opposed to you stating that the only way to be compliant is going state by state getting MSBs and then gave you an example. As for asking for proof about being compliant, go read the settlement and order from the CFTC, then go read our ToS, and you can decide for yourself if you think we've done enough to be compliant. For a good idea of the context of the settlement and a bigger view I would suggest reading this: http://www.coindesk.com/cftc-bitfinex-enforcement-bitcoin-exchanges/If you'd like to have a civil conversation i'm more than happy to, if you just want to ramble without actually reading what I write go for it, but I'm not going to waste my time responding. You said : " As such we have addressed this issue a manner so that we remain compliant without going state by state getting MSB's."[/i] What's your solution to be compliant ( approach regulation) with the US laws while you don't have a bank charter and you are not a MSB? CFTC has no attribution related to MSB. You may be compliant now with CFTC but you are not with FINCEN and with the Bank Secrecy Act who is requiring you to have a financial license in each state you operate(you have clients). You are in the business of selling, buying, and exchanging bitcoin and you definitely need an MSB license. My questions were simple but you avoid to answer. It is a civil conversation. I am smiling and I am asking you friendly : Also, you operate in EU where a financial license is mandatory as well. Do you have a such license for European Union (as...Circle) ? On your website, it's saying "a) where you are a U.S. Person, BFXNA Inc. BFXNA = a BVI company BVI is a country who requires a financial license for your kind of activity. I did not find your company along BVI Financial Services Commission's list. Why? Last frindly question : do you have any financial license in any country that allows you to run your financial business? Your clients must know what company they are using, if that company is in good standing and compliant with everything. It's not something rude from my part to ask NORMAL questions. Thank you ! |
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