 Show Posts
|
|
Pages: [1]
|
Seems like Substratum is a competitor with an ambitious plan to launch by Q1 2018....
Yes, that's a major concern of mine too. Whoever is first out the gate with a credible network (that works well and has no bad press) is likely to steal the other's thunder. My worry is that it would be tragic for the SAFE project if Substratum beat them to it. Tragic too, though, for all of us, early investors in MaidSafe tokens, because clearly the price could suffer badly if MaidSafe is last out the gate and thereby might be perceived as copying Substratum (which clearly isn't the case). I also worry that there are at least two more Alpha's to release (#3 and #4), which was news to me this week, before there's even a hint of a beta release. Worrying. I do understand, though, that Rome wasn't built in a day but Substratum's published road map/timing is troubling (it seems fast!). |
|
|
|
Waiting verification from 20.03.2017... Today is 04.06.2017  Writed some times to support:"Answer: Please wait..." I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way. Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens. do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and get money... but the verification is so strict , I haven't uploaded it because I gonna apply for a CityBank card first. Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time). wow, since it'll take so much time, seems like mission impossible, is there any other way to exchange USD cash to USDT or btc(same price as Poloniex or Bittrex) ? If I understand your question correctly, you're asking how to get in and out of fiat currency to/from crypto currency. The most reliable way I have so far found is to use CoinBase (which I have found to be very good other than a few outages in very busy trading times). So, in a nutshell, you can have any number of different crypto coins (including USDT) at, say, Poloniex, but then transfer them to CoinBase to cash them in (see below for more detail). Buying crypto using fiatSo, for example, I use CoinBase to buy into LTC, BTC or ETH using fiat (Euros specifically, for me [UK based] as support for GBP is patchy at time of writing although they say they're trying to fix the GBP gateway). They also take dollars as far as I'm aware - but I haven't tried them. Selling crypto to get back to fiatI had most of my crypto coins at Poloniex, simply because they handle way more than just LTC, BTC and ETH .... MAID for example  ... and Tether if you want to 'ring-fence' (ish) a given crypto value at any point. However, now that Tether has proved unusable at least for getting back to fiat currencies, when I want to 'cash out' back to fiat, I simply swap whichever coin I want to cash in for ETH, LTC or BTC so that I can send those to my CoinBase account. Once there I can swap the ETH, LTC or BTC back to Euros (or, if I wanted, USD or GBP) very quickly and easily and then send to my SEPA bank account (needs to be SEPA in my case to handle Euros, although they arrive back in my UK account as GBP). It's actually pretty slick and the only thing you have to be careful with, other than getting your wallet addresses spot on, is timing. To clarify, I tend to try to do the swap-out when the price of LTC, BTC or ETH is rising because then, after the wait for the transactions to go through, hopefully I will have gained a bit rather than lost a bit in the ensuing wait. If nothing else, that will offset some or all of the bank/transaction/coin swap fees. For speed, therefore (if there is not a defined upward trend in coin value at time of transactions) it makes more sense to use ETH or LTC as they will be quicker to be confirmed by the blockchains and then any volatility is likely to be less of an impact. I'm not sure if an affiliate link is allowed here (apologies if not - I'm sure the mods will let me know if not and then one or other of us will remove it) but my CoinBase affiliate link is https://www.coinbase.com/join/5773a4ddd677dc15730007b7 and here's the reason I'm including it other than the obvious: if fiat is used to buy - or possibly sell - at least I think $100 worth of a crypto coin at CoinBase through such a link, then both the newly signed up person and myself will each receive $10 worth of BTC for signing up through that link (so it's a win-win). Coinbase take bank transfers AND cards, by the way, for buying coins using fiat currency. While their fees are not particularly cheap, I have found their rates when selling back to fiat very fair (unlike the UK banks' fees by the way - they seem rather hefty but it is what it is and C/Base do make it easy!). Localbitcoins is, I suspect, another way of going to/from fiat but I've never used them. I hope this helps and, again, let me know if that affiliate link breaks a rule and I'll amend as needed. OK I have an update about my experience with tether.to and accounts there: Firstly, the good (and, given the above, surprising) news — out of the blue my account was verified in the last fortnight. The entire process took about ~5 months rather than the longer wait that I had anticipated given the apparent slow progress of accounts clearing each day. So, on the face of it this was great news and also my account was simply verified with no iffs and buts (no need to re-upload this document or that etc.). So, I assumed I was good to go and would now be able to log into my Tether account and cash out any tether tokens direct to my bank account (which was linked up as part of the original verification and KYC set-up). I logged into my account and yes, it also said I was now verified there. Now the bad news - in the withdrawal area there was a new message: "Withdrawals are currently restricted. Due to regulatory and banking limitations, withdrawals are restricted to verified corporate customers requesting 50k or more which are not in a restricted location. If you believe you can meet these requirements email support@tether.to with your request information/details."WTF!? By the way, I'm in a European country (sorry to be vague but clearly Tether people are patrolling this thread) and I don't recall my country being a restricted zone. To be honest, I now bitterly regret uploading all my ID, banking details, proof of residency etc. Who knows who now has access to that in Hong Kong or elsewhere. I will update again if anything else occurs. |
|
|
|
Could someone brief me on the USDT please?
So far I've just (blindly) assumed that it was another coin that could be traded on exchanges any time with a more or less fixed value of 1 USD/USDT. I was going to make use of this during bear markets, but if that's not even possible without verifying ID then I might just as well sell the BTC for real cash instead? Did I miss anything or are these tokens useless based on this scenario?
If so, what purpose, if any, do these USDT have other than providing fees to the creators?
Well, if you're talking about doing that via the Tether site itself then it would be difficult given the current backlog of ID verifications (it looks like I'll be waiting months for my ID to be looked at, let alone accepted). However, if you are wanting to do it via somewhere like Poloniex, then that's feasible as things stand and, in fact, I do it all the time. So if I ever want to 'pin' the value of a crypto coin, I can 'cash out' (to all intents and purposes) to USDT at Polo, knowing that the value will be pretty much locked down to a given Dollar value (small fluctuations in the value of USDT aside) then buy back into ETH or BTC or MAID or whatever when I'm more confident of the direction of travel of those coin values. It does all, however, assume USDT is "going nowhere" (i.e. folding) any time soon. Here's hoping as it's a very useful tool for the kind of 'hedge' I describe above. |
|
|
|
Waiting verification from 20.03.2017... Today is 04.06.2017 Writed some times to support:"Answer: Please wait..." I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way. Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens. do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and get money... but the verification is so strict , I haven't uploaded it because I gonna apply for a CityBank card first. Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time). wow, since it'll take so much time, seems like mission impossible, is there any other way to exchange USD cash to USDT or btc(same price as Poloniex or Bittrex) ? If I understand your question correctly, you're asking how to get in and out of fiat currency to/from crypto currency. The most reliable way I have so far found is to use CoinBase (which I have found to be very good other than a few outages in very busy trading times). So, in a nutshell, you can have any number of different crypto coins (including USDT) at, say, Poloniex, but then transfer them to CoinBase to cash them in (see below for more detail). Buying crypto using fiatSo, for example, I use CoinBase to buy into LTC, BTC or ETH using fiat (Euros specifically, for me [UK based] as support for GBP is patchy at time of writing although they say they're trying to fix the GBP gateway). They also take dollars as far as I'm aware - but I haven't tried them. Selling crypto to get back to fiatI had most of my crypto coins at Poloniex, simply because they handle way more than just LTC, BTC and ETH .... MAID for example ... and Tether if you want to 'ring-fence' (ish) a given crypto value at any point. However, now that Tether has proved unusable at least for getting back to fiat currencies, when I want to 'cash out' back to fiat, I simply swap whichever coin I want to cash in for ETH, LTC or BTC so that I can send those to my CoinBase account. Once there I can swap the ETH, LTC or BTC back to Euros (or, if I wanted, USD or GBP) very quickly and easily and then send to my SEPA bank account (needs to be SEPA in my case to handle Euros, although they arrive back in my UK account as GBP). It's actually pretty slick and the only thing you have to be careful with, other than getting your wallet addresses spot on, is timing. To clarify, I tend to try to do the swap-out when the price of LTC, BTC or ETH is rising because then, after the wait for the transactions to go through, hopefully I will have gained a bit rather than lost a bit in the ensuing wait. If nothing else, that will offset some or all of the bank/transaction/coin swap fees. For speed, therefore (if there is not a defined upward trend in coin value at time of transactions) it makes more sense to use ETH or LTC as they will be quicker to be confirmed by the blockchains and then any volatility is likely to be less of an impact. I'm not sure if an affiliate link is allowed here (apologies if not - I'm sure the mods will let me know if not and then one or other of us will remove it) but my CoinBase affiliate link is https://www.coinbase.com/join/5773a4ddd677dc15730007b7 and here's the reason I'm including it other than the obvious: if fiat is used to buy - or possibly sell - at least I think $100 worth of a crypto coin at CoinBase through such a link, then both the newly signed up person and myself will each receive $10 worth of BTC for signing up through that link (so it's a win-win). Coinbase take bank transfers AND cards, by the way, for buying coins using fiat currency. While their fees are not particularly cheap, I have found their rates when selling back to fiat very fair (unlike the UK banks' fees by the way - they seem rather hefty but it is what it is and C/Base do make it easy!). Localbitcoins is, I suspect, another way of going to/from fiat but I've never used them. I hope this helps and, again, let me know if that affiliate link breaks a rule and I'll amend as needed. |
|
|
|
Waiting verification from 20.03.2017... Today is 04.06.2017 Writed some times to support:"Answer: Please wait..." I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way. Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens. do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and get money... but the verification is so strict , I haven't uploaded it because I gonna apply for a CityBank card first. Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time). |
|
|
|
Thank you very much Zeeman for taking the time and trouble to answer my queries above so comprehensively - really appreciated and all now understood |
|
|
|
Waiting verification from 20.03.2017... Today is 04.06.2017 Writed some times to support:"Answer: Please wait..." I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way. Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens. |
|
|
|
isnt this coin supposed to be super secure?
Yes, the whole network is supposed to be secure so: - Register a domain without anyone knowing you did so... but still you are the owner - Upload private data without anyone knowing you did that, how much... - Transfer Safecoin from A to B without anyone knowing you did or how much while no one knows your balance - Browse safe://websites without anyone knowing what/when and stuff like that Thanks to Zeeman in particular for the regular and detailed updates and replies. I think we all appreciate it immensely Meanwhile, I have a few queries that have been rattling around my head in relation to MaidSafe for quite a while. Let me run them past you all, if I may (sorry it's a bit of a mix!): The Safe Network will, of course, be awesome. I love the whole concept. And I love that I can be involved in supplying some of the space in the new network. 1). However, there is one thing that worries me quite a bit ... if it's totally secure, anonymous, untraceable etc., how can the network keep it from being abused, e.g. by terrorists? You'll know who I have in mind there. It would be a terrible misuse of such an amazing tool if it's hijacked with, for example, 'how to' websites for all manner of destructive topics/sites, or even nasty paedo type stuff. How do we keep that stuff out if we can't 'see' who published or communicated it? 2). Meanwhile, if I understand it right, a SAFE coin may well be more of a [disc] 'storage' unit/value rather than a 'financial' value like other crypto coins. Let's say I have 4000 SAFE coins, but I don't need that amount of storage. Rookie question I suspect ... I can just 'sell' those coins? I'm confused because I read that it's not coins ... it's space. Maybe that doesn't matter and it's as easily traded. But the whole 'burn and recycle' thing (if I understand it right) is confusing me a little. I think I get it but I'm just double-checking here! 3). I know originally that SAFE coins were not going to be divisible. Given how much crypto coins/tokens have taken off even in only the last quarter, is that decision still up for debate? My thinking is that if a MAID coin is eventually swappable 1:1 for a SAFE coin once available, if the price of a SAFE coin by then is, say, $500 (wouldn't that be nice!), wouldn't smaller potential fractions, like Satoshis are to Bitcoin, be wise? Or have I missed some other conversation that's already covered that? Thanks in advance for any insight on any of the above. |
|
|
|
|
