I doubt it was the work of WSB, it was probably the crypto traders, just like when Elon tweeted about Doge. after the gamestop pump, i don't think we can right off WSB that easily. this dogecoin move was significantly bigger, in % terms, than any other that ever came before. i'm sure altcoin traders are riding the wave, but that alone suggests something bigger is at play this time. i'm not sure it's over either.  |
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Good news!
The fees at GBTC seem excessive and competition will only help both fees to decrease, but also lockups and the premium people were willing to pay to buy GBTC. If the SEC would stop being such luddites, they could resolve the issue quite quickly by just approving the ETF.
it's good news but given that it's a small canadian fund, i don't have the highest hopes. they currently hold ~5600 BTC vs grayscale's ~650k. that first mover advantage is significant in terms of the public market's liquidity, and that really matters to investors and traders, especially since ninepoint is a relative unknown. if you think about it, 1.3% annually (what shareholders would save by switching from GBTC to BITC.U) is nothing compared to bitcoin's potential price movements. when the SEC finally approves a fund available to non-accredited investors, it'll be a game changer for sure. the american retail market is still largely untapped, and i think large institutions like pension funds/asset managers will eventually be holding ETF shares instead of the current primary available option---futures contracts, which are not ideal for long term investment. |
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On searching USDT i found USDT (Trc20) and added in my wallet. Now i can send and receive USDT without any fee  Is the same thing can be done on Bread wallet ? Does BRD wallet also supports Trc20 USDT ? nope. BRD wallet supports USDT but only as an ERC-20 (ethereum-based) token. in general, BRD is much more limited in the blockchains it supports than wallets like coinomi or trust wallet. https://brd.com/support/articles/360000257454The BRD app only supports bitcoin, bitcoin cash, ethereum and some ERC20 tokens at the moment. Unsupported currencies sent to your BRD wallet will be inaccessible and we will not be able to return those funds to you. |
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They mentioned, "minimal KYC" under the "DIRECT PURCHASE" section of their homepage and only "No ID" on their FAQ page. Does anyone know what that means exactly?
- I've been searching with no luck. their in-wallet purchases are powered by https://banxa.com. you need to supply an email address/phone number to buy through portis. you then need to verify the phone number via SMS. no ID documents required---up to what thresholds i'm not sure. |
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This is bad. Really bad. Imagine if a lot of countries are doing the same. the USA is heading that way. they proposed very similar regulations. they're currently on hold but i don't expect that to last long. i won't be surprised if exchange customers are eventually just handing over a master pubkey to exchanges under legal declaration. i'll bet 80% of them won't even realize the implications, and will just give the exchanges an open door into all their financial activities. Governments are trying to kill the term “decentralization”. Regulatory moves like this are destroying the purpose of decentralization. i wouldn't say that. as usual, they are leveraging their power over industry to force centralized entities into attacking our privacy and scaring us into legal/tax compliance. decentralized protocols like bitcoin---unaffected. |
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the gold vs cash comparison is not as clear cut as it may seem. something to consider is bitcoin's "wealth effect". people like to hold bitcoin for a while, but then eventually realize capital gains through spending: The more valuable bitcoin has become, the more people are using it to buy stuff. ”We have definitely seen a ‘wealth effect’ pattern when the bitcoin price increases,” says James Walpole, BitPay’s marketing manager. In other words, if you already owned bitcoin and it rose in value, selling some bitcoin would give you more dollars to spend. What are people spending bitcoins on? Walpole says about a third of BitPay’s transactions are going to prepaid services like Neteller, Skrill, and BitPay’s prepaid Visa card. Some 21% are going to gaming platforms like Steam. Fifteen percent of transactions go to digital services like domain-name registrations. The bitcoin “wealth effect” is also evident in the buying patterns of customers at CheapAir, which sells plane tickets, hotel reservations and car rentals online. CheapAir was one of the earliest merchants to accept bitcoin payments in November 2013, and founder Jeff Klee says his bitcoin customers are now feeling flush. “With bitcoin we tend to generate more sales in premium cabins like business class or first class,” he says. “Certainly the average spend for the bitcoin customer is higher than a non-bitcoin customer.” https://qz.com/931810/cheapair-and-bitpay-data-show-rising-bitcoin-btc-payment-volumes/there's a notable contingent of bitcoiners who will tell you they'll spend regardless of price, although i suspect those who are sitting on gains are more likely to truly feel that way, and actually spend their coins. to me, it's not about spending vs investment. it's not one or the other. bitcoin is not monolithic. it can be an investment/store of value, cash, a superior form of internet money/e-wallets, a means for cross-border remittance/capital flight/tax evasion, a way to add a layer of privacy to electronic payments, and more. |
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I just wish there would be someway to get something back at least someday
the authorities did seize $90 million from the alleged owner of btc-e last year, but the odds of that money being paid to btc-e or wex.nz customers is slim to none. the authorities have said all their money (including customer deposits) is tainted due to commingling with proceeds from ransomware, darknet markets, hacks, etc. i quickly took the ~55% refund from btc-e before wex.nz launched and ran. i'm still holding all those coins since 2017. that experience was a big lesson for me: not your keys, not your coins. |
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@Sithara007. You understand, good. I have been telling everyone about this on another thread in the speculation subforum, however, they have called it FUD even if the argument was based on facts. How can anyone call it FUD if it was facts based? It is speculation. well which one is it---facts or speculation? it's one thing to say tether is/was not 1:1 backed, or that the state of new york is suing them---those are certainly facts. i can agree with that. it's another thing to suggest tether's takedown is a sure thing, and that this will crash the bitcoin market. those aren't facts. And there will be big impact on the cryptocurrency market. If Tether is not safe, then none of the stablecoins are safe.
why? a lot of the market already trusts stablecoins like PAX and USDC a lot more than USDT. they're issued by regulated/licensed companies. plus, if the market starts dumping their stablecoins below their redeemable value, big whales will just arbitrage them back to $1, because free money. |
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here's an interesting update from the city of miami. no word on direct investment yet, but in reaction to the recent faketoshi/whitepaper controversy, they started hosting the whitepaper on the city's website: https://www.miamigov.com/Government/City-Officials/Mayor-Francis-Suarez/Bitcoin-White-Paperis CSW gonna threaten to sue them now too?  The City of Miami is dedicated to becoming a model 21st century city. We think that means embracing and supporting disruptive technologies that challenge the status quo and improve how we interact with one another. Bitcoin, the decentralized financial network that allows individuals worldwide to store and send value to one another without intermediary agents like banks or payment processors, is a technology we believe will transform the world. Bitcoin is the invention of a pseudonymous computer programmer called Satoshi Nakamoto. In October 2008, the still unknown Satoshi published a white paper called "Bitcoin: A Peer-To-Peer Electronic Cash System," outlining his proposal and the mechanics of what we now commonly refer to as Bitcoin's "blockchain." The Bitcoin network has run continuously and without incident since its launch on January 3, 2009. The network currently secures over $600 billion in value and its native cryptocurrency (bitcoin with a lowercase "b" or "BTC") is seen by many experts as the next great store of value and akin to a digital gold. The City of Miami is actively exploring how we can best utilize Bitcoin and related technologies and are committed to supporting and attracting businesses and entrepreneurs innovating in the space. Read the Original Bitcoin White Paper |
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I am UK based yes, but don't want to use CB because of their high fees.... Maybe BINANCE is the next one for me. the main problem with binance.je is very poor liquidity. one way around coinbase's high fees is to only use them for a fiat onramp/offramp. deposit GBP > trade to BTC > send to binance.com and trade for 0.1% fees. do the same thing in reverse to cash out. |
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i just tested this---you don't need to actually use a real email address. it just functions as a login.
You actually need the email address to be real because when you first attempt to sign up, there is a message that's sent to the email address for verification. You can still sign in minus verification but sometimes if you sign in from a different browser or device, the sign in could be flagged as suspicious and a verification message would be sent to your email address as I have experienced it before. Without a real email address, you won't be able to access your account (if you didn't back up your recovery phrase) sure you can. you don't actually need a verified email for anything---it's a non-custodial wallet after all. as with any other wallet, the first thing you should do after generating it is back up the recovery phrase. as long as you have your email/password combo, you can decrypt your wallet---you shouldn't need portis' customer support for anything. worst case, you can recover your wallet from seed. the way i see it, providing a real email and verifying it is just leaking personal data that can be used to identify you. |
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The cryptospace will become fragmented similar to how the financial system is fragmented instead of being one whole ecosystem for payments and finance for users without the banks.
the regulated space---exchanges---will become more fragmented, yes. my hope is this will simply drive more and more people towards the p2p economy. the feds can regulate businesses to shit, but they can't stop me and you from transacting with bitcoin, anymore than they can stop us from using cash. |
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so the risks are essentially the same as a web wallet like btc.com or blockchain.com? when you add 2fa and compare to a centralized exchange account, that's not bad. I won't go into too many details, but that mainly depends on how secure your device is and the fact that it only requires an email and a password, it places itself in a vulnerable position.
- I wouldn't use it for a significant amount.
after creating a wallet, you can add 2fa via google authenticator. The difference between it and Metamask is that you have to create and log into it using an email address and password.
i just tested this---you don't need to actually use a real email address. it just functions as a login. |
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There is no way the stock will hold a $28B value if cryptocurrency is tanking or in a bear market. The demand just isn't there. why not? that's arbitrary, especially when the whole stock market is a bubble. seen TSLA lately? you're thinking in terms of the old paradigm where a bear market = "bitcoin is dead" and a 90% drop in price---not one where bitcoin is popularly acknowledged as a legitimate store-of-value asset next to gold, and where wall street and publicly owned companies are invested in bitcoin. coinbase is the biggest spot exchange on the american market. if commodities were in a bear market, would the value of CME go to shit? of course not. coinbase is, to mainstream/institutional investors, vital infrastructure in a legitimate new asset class. that's huge..... IMO it only makes sense to either stay away from crypto, or buy the assets. (In the long term)
i'm certainly in the latter camp, but tbh this is like comparing bond investment with tech stock investment. there are people who want predictable ROI (bond investors), and there are people who wanna speculate on riskier assets. to each their own. |
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Coinbase’s stock price goes up since they are making more profit via the exchange transaction costs. Decentralized currencies also increase, and you’re left with fiat cash that, in return, could buy less of the crypto that you believe in.
a lot of people have the warren buffett mindset---they don't necessarily want to touch speculative assets like bitcoin, but they do want to own equity in profitable bitcoin businesses. buffett hates gold as an investment but recently bought into a gold mining company. same idea there. there is something i wonder about. coinbase collects fees in cryptocurrency on at least one side of every trade, and has been for many years. does anyone know if they've been keeping any of it as reserves, as opposed to liquidating all of it? i reckon coinbase may already have significant bitcoin/crypto treasuries, like microstrategy and other publicly owned companies are just beginning to have. also, coinbase, as the biggest american exchange, will make good money whether it's a bull market, bear market, whatever. in a crypto bear market, their stock price may dip on expectations of decreased earnings but i reckon it'll hold up much better than cryptocurrencies will. |
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Only looking to hodl BTC & ETH and eventually do a bit of swing/day trades. Looking to fund with Fiat via ACH or wire transfer. I would love to hear and appreciate your knowledge and suggestions for the best exchange to use:
-US Citizen
-As "safe" as "safe" can be
-Low deposit/withdrawal/trading fees in terms of fees, binance.us is your best bet. 0.1% trading fees at the starting tier, free ACH deposits/withdrawals. next is kraken (as low as 0.16% trading fees) but they only support bank wires---no ACH. coinbase pro's fees start at 0.5%.  they all support 2fa (use TOTP like google authenticator, not sms!) and other standard security features. -Must issue private keys so I can store on Nano X no exchange will do that. it's not a secure way to transfer crypto. -Also plan to do some swing trades in addition to hodling
-No nonsense approval/verification process
you might look into p2p trading. it's a great way to avoid KYC. https://localcryptos.com/as for swing trading, you can use shapeshift to trade between BTC, ETH, and stablecoins without KYC: https://beta.shapeshift.com/dashboard |
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Hehe it was Trump who was ok for bitcoin. What he says about his stance on bitcoin might be negative, however, his policies never went out of their way for a clear takedown of the cryptospace. it was the trump administration who just tried to sneak through horrible crypto regulations at the last second---namely, the "travel rule" (KYC on $250+ cross-border transactions) proposal and the "self-hosted wallet" proposal. the former is horrible on its face. the latter will result in this: If you're using Bitstamp, now might be a good time to ditch it.Bitstamp exchange crazy new KYCbiden might end up being worse for crypto, but fuck trump. |
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Can anyone help please?
there's not much else we can do from here. you can try asking the mods on the coinbase subreddit: https://www.reddit.com/r/CoinBaseor you could try asking at https://ethereum.stackexchange.com/ as well. maybe there's something we're not thinking of. the way i see it, there's a few possibilities: 1a. the merchant's seed is wrong 1b. you sent tokens to an address not in the merchant's wallet 2a. the reddit info is incorrect = the derivation path is wrong 2b. you are inputting the derivation path incorrectly 3. you haven't derived enough addresses or scanned for the address correctly |
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