The only thing the shareholders and potential buyers will care about is how many dollars they make and how many they'll make in future. Crypto is no more than the vehicle they use to make them.
While somewhat true about the money part, people(especially institutional money) will definitely be thinking twice investing in a company if there's uncertainty if the company is doing shady stuff or not; especially after the very recent Wirecard scandal whereas the stock price plummeted from $50+ per share down to less than a dollar in just a week. As much as people want to make money, one thing's for sure— they don't want to lose money either.
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We have restrictions in our country so if we withdraw to our bank they will close the accounts and we should wait for some more years for clarity of crypto in our country.
Thanks!
Looks like your choices are pretty limited between: 1. PayPal: also known for locking accounts 2. DAI/SAI: as far as I know the only stablecoin at the moment without sort of "locking features" as with most centralized stablecoins 3. Bitcoin: probably the best choice, you just have to accept and embrace the price volatility
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I also wouldn't be in the least bit surprised if Tether started demanding KYC and proof of address ownership from various people in return for having their addresses un-blacklisted.
It isn't that far from being impossible knowing that they can. It just scares me how a lot of people think this is not possible just because it's a "cryptocurrency" and that they're holding the funds in their own non-custodial wallet.
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That is technology for you. No matter how smart you are, some technology might make you look dump and since him and hushpuppi engage in BEC scheme,
Though thankfully he failed and got caught, he could've probably easily got away with this though. He could've used existing technologies such as CoinJoin(through Wasabi) and mixers(through ChipMixer), and made self-transactions to add extra hops(à la Samourai Wallet's Ricochet feature), and the funds would've been a lot more untracable. He definitely lacked knowledge in privacy in general, not knowing that the authorities can tie-up multiple account data. Or he neglect research and trust someone who says Bitcoin is fully anonymous ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) LOL. Also possible, but damn what a very amateur mistake for someone capable of pulling off such a heist.
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If I understood this correctly, the statement you quoted already answered the question: “Records obtained from Bitpay, a processor of cryptocurrency transactions, indicated that between approximately September 18, 2015 and November 29, 2016, the 16AtGJ BTC wallet made five purchases associated with the Gmail account hustleandbustle@gmail[.]com (the “hustle Gmail account”).
“Based on records obtained from Apple, an iCloud account (Subject Account 1) was subscribed to by Jacob Olalekan, listing the 7890 phone number, the hustle Gmail account, and a physical address in Johannesburg, South Africa.” He pretty much made a purchase through BitPay using the funds that he collected through his scams, and since it looks like he used his personal email(hustleandbustle@gmail[.]com), it was tied to his Apple iCloud account. For a smart guy to pull-off these scams, it looks like he ended up making an amateur mistake in the end.
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Not let us say if i have 100K in stable coin like binance is good...?
Thanks!
Holding huge amounts of money in stable coins = bad Holding huge amounts of money in stable coins and on exchanges like Binance = very bad. You're putting yourself too much at risk. If I would personally hold USDs, I'd just hold it in actual non-stablecoin USDs.
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Yeah I think a lot of investors are just trying to get out of cash.
In theory, yes. Right now though knowing that the federal reserve are planning on distributing more stimulus money hence creating more inflation? Errr. Probably a bad idea? I'm guessing this is why gold is at it's all-time highs.
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if ever na itry man namin ito, what features does it have na wala ang mga common wallets na ginagamit natin ngayon? (syempre maliban sa Lightning-like speed of transactions nito and UX na sinasabi mong nagproprogress from time to time)
That's pretty much it. Why I'm Phoenix Wallet is because mejo mas malayong mas madaling gamitin itong wallet na ito compared sa ibang existing Lightning wallets.
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How long would above step take? What if btc drop significantly like 10% during this process? It doesn't seem impossible for this scenario to happen.
How long the peer-to-peer transaction will take place probably depends on what platform you're going to use. As for the withdrawal fees, it will really depend on how congested the mempool[1] will be. But yea, it's definitely not impossible for bitcoin to move higher/lower while you're doing the transaction, but you'd have to be quite unlucky for that to happen. Unfortunately that's simply one of the risks you have to take for transferring money using bitcoin.
[1] https://www.blockchain.com/charts/mempool-size
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However the conversion from cryptocurrency to local currency might be expensive, I've already tried it and suffer from unwanted loss.
Well, yea they can definitely be a bit unnecessarily high. But that's what you get in exchange for using a very convenient platform as you literally convert the coins with only a few taps on your smartphone. You can use Coins Pro if you want to save more on fees, but obviously it will be less convenient because it's a spot exchange.
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Got a link to that event?
I'd be amazed if any exchange recompensed a user's incompetence.
If somehow a hacker managed to get into Binance's own systems and phished their users via legit channels that's another thing and that's ultimately on them for letting it happen.
Here you go: "The hackers used a variety of techniques, including phishing, viruses and other attacks,” wrote Zhao. “The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time." The statement makes it a bit unclear if it was user's error or an error on Binance's side though.
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A separate question, is there way for small user like me to hedge btc price risk in a short time frame? Let's say I buy 0.1 btc in China. I know takes 30 mins for trade to settle/escrow then transfer to US exchange. Within these 30 mins is there a cheap way for me to lock in the price of btc? One idea I have is use the Defi loan in Ethereum:
...
Does this look practical?
You're over-complicating things with the "defi" route. Simply buy the BTC, and when you have access to the BTC, simply withdraw the coins immediately to the US exchange. If you're going to send from an exchange, chances are, the withdrawal fees are going to be slightly on the higher side by default as to not take you too long to receive the coins.
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What's the reasonable premium of buying in P2P market vs exchange? That's would be the transaction cost. I would expect BTC or tether price higher in foreign exchange controlled countries like China or Argentina.
Great thing with P2P is that you can choose what price you want, because you yourself can set the buy offer(or of course, choose between other existing sell offers). It's just you might end up waiting a while to receive an offer. As for the price premiums, no idea on that.
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It also becomes more of a one stop shop for surveillance and seizure. With the custody stuff too Coinbase could well end up with over 10% of all Bitcoin under its control. That's a big old point of centralisation.
Yea it's truly unfortunate. But just like what happened to a decent percentage of the bitcoin people right now, I like to take the optimistic approach and think that Coinbase will just be the sort of "introductory platform" of people to bitcoin, and as they learn more about bitcoin and it's other characteristics like decentralization and privacy, that they would hopefully skew away from Coinbase, or at best, centralized exchanges in general.
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Honestly there are some transactions that are free from fee. Just like transactions using the coins.ph bitcoin wallet.
Yeap. Just fyi, Coins.ph transactions are "free" because they're off-chain transactions. Basically just a change of balance numbers of Coins.ph's database. This is why the transactions are only free only if it's between two Coins.ph users. Same thing with Coinbase <-> Coinbase transactions.
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Yeah, I mean we love to see pro-bitcoiners running for the US Presidency, but most of them are not even qualified like Kanye West (which to me is just banking of the BLM noise). It's good if we are going to see a US President that will support bitcoin in the future, however, it that will be there stance and sort of 'battle-cry' to run, I don't think they will get the support of even as a hard core bitcoiner. It takes more than to be a pro crypto to head the highest office of the world's most powerful economy.
Good luck getting a pro-bitcoiner to actually win the US presidency though. The government wants control in general over their people; and one of the ways to gain control is through money. It would be really obvious why they wouldn't promote something "pro-people" such as bitcoin.
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As for Coinbase, I've never seen one or if there is, I don't really know. The best exchange into refunding their affected users with their negligence is Binance. But even if it's Binance and the fault is found on the user, they will not refund it. So that's likely going to happen with your uncle's case.
As far as I know with the Binance mass hacking, it was also their user's fault. If I remember correctly the attack was just executed at one single day hence the huge publicity around it. And since Binance(especially with their Twitter-active CEO) takes PR seriously, of course they would refund the money. It has marketing written all over it, for the masses to trust Binance more.
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Bitcoin transaction fees can be as cheap as just a few cents and as expensive as a few dollars. It just depends how quickly you need the transaction to be confirmed. As we speak, I just had a 6 sats/b transaction, which just costed me a few cents, and it was confirmed in no time because the blockchain isn't congested; whereas sometimes you'd need to increase your transaction fees higher if you want it to be confirmed faster.
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While I personally and some people here don't like Coinbase(for obvious reasons), this is probably going to be a net positive for bitcoin and the cryptocurrency space in general. Coinbase is a company that's worth billions so I wouldn't be surprise that they(along with bitcoin of course) will be over the news once they actually go public.
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Sorry to burst your bubble, but the chances of him(and Kanye West) actually winning is next to zero. Other candidates like Andrew Yang have been campaigning for a while now but yet they pulled out because the chances of them winning is very low. In the end, it's most likely just going to be Trump vs Biden. Brock's most likely completely aware of this and is just "running" for president for publicity purposes, whatever his agenda is.
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