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1  Bitcoin / Bitcoin Discussion / Re: This is very bad for the European crypto community! on: December 18, 2019, 01:29:30 PM
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.

The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.


Source link here

It means that they're clearly in a war against decentralization.

They are doing whatever it takes to "take over" and make centralized payments dominant once again.

Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.

It's just that these lawmakers are doing something to make sure we do not prosper, but only them.

There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.

I'd rather look at it as a positive one. There have been attacks on the existence of bitcoin and crypto around the world.
There are both type of people, one who are okay with KYC and one who not who uses bitcoin and other crypto.
A general trader and investor has nothing to hide from the authorities and the involvement would restrict the fraud in crypto industry.

Exactly, these regulations will only help and prevent frauds, thief, money laundering and many other crypto crimes. If regular users do nothing wrong or illegal, there's nothing to worry about. I understand people who say, that the point of cryptocurrencies is decentralization and anonymity, but one the other hand, lack of any regulations and security system which leaves much to be desire, are the main reason of why the are so many criminals using Bitcoin etc.
2  Bitcoin / Bitcoin Discussion / Re: What do you think of the current status of Bitcoin? on: December 13, 2019, 07:27:06 AM
2019 wasn't so bad for BTC, besides the price the background is fine. I mean e.g. Ukrain legalized cryptocurrencies and 5th Anti-Money Laundering Directive- hope it will help in regulating crypto market in many aspects
Yes, it wasn't that bad though it may have a lot of news about cryptocurrencies and other countries accepting, legalizing cryptocurrency. Allowing blockchain technology for other countries to make their own cryptocurrency it wasn't that bad. The only bad that i see are those negative thinkers who crypto spreading some fake lies to the crypto community.

yeah... when it comes to negative thinkers- they were, they are and they will be, that's an inseparable part of any community. But I see your point, it's pretty easy to spread false information about that, it's a topic many people have no idea about. The worst thing is there are more and more scams and crimes connected to crypto, so the 'reputation' of digital currencies is being destroyed all the time.
3  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: How exchanges treat the stolen Money? on: December 12, 2019, 04:52:28 PM
Such situations are pretty common, just like using exchanges to money laundering or other crimes. People who do that think they are 'invisible'. That year might be crucial for crypto world because of AMLD5 guidelines, awareness about crypto crimes has risen. Also there are special methods and companies who deal with such issue. For instance Coinfirm, which is a partner with Binance, is a leader in analyzing cryptocurrency transactions to see if they went through the mixers and rate their risk level for AML compliance reasons. They just released their new Standard AML Risk Reports. Hope next year will bring a lot of changes.
4  Bitcoin / Bitcoin Discussion / Re: Best ways of bringing Bitcoin to non-crypto users on: December 12, 2019, 03:22:03 PM
I think not all people will be willing to be educated about crypto stuff, it's quite difficult topic demanding knowing many information and details. However nowadays, Bitcoin becomes more and more popular as a payment method, like in hotels, for food delivery or online shopping. So things, that all of us use and that might be a key when it comes to easier introduction someone to Bitcoin.
5  Bitcoin / Bitcoin Discussion / Re: What do you think of the current status of Bitcoin? on: December 12, 2019, 03:04:16 PM
2019 wasn't so bad for BTC, besides the price the background is fine. I mean e.g. Ukrain legalized cryptocurrencies and 5th Anti-Money Laundering Directive- hope it will help in regulating crypto market in many aspects
6  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Coins with potential to x100? on: December 11, 2019, 06:49:05 PM
It's really impossible to say which cryptocurrency may do so well right now, we dont have proper analytics for such stuff, but this little speculation game intrigued me, so i'll join it ;p

BTC, ETH and XLM are my types, but to be honest I think that such growth might be achieved by some uncommon, unknown project which hasn't been developed yet, or is right at the beginning of the development.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Would You Trust Libra Coin With Your Money? on: December 11, 2019, 06:41:47 PM
It's pretty sure that Libra won't turn out as a huge hoax when it comes to financial aspect, but it's not the main concern of crypto enthusiasts. The privacy is. Facebook and other companies based on big data collected from billions of users are redeveloping the world on their own, sick conditions and that's why I'll stay away from Libra. But I don't think that you should be worried about your money invested in Libra project - it's quite the opposite, they'll handle it very well. Most probably Libra will let you earn some money, even if you are a complete newcomer into crypto, but instead they are taking your data and this is more valuable for Facebook etc than money.
8  Economy / Exchanges / Re: Should I trust no-kyc promise of basefex? on: December 11, 2019, 06:34:22 PM
There are no guarantees that they won't introduce KYC. There is no exchange platform which can provide you such assurance that no-matter-what they won't do it, they have to  adjust to certain regulations and KYC procedure is becoming pretty much standard right now. That's the reason why I wouldn't trust them in long-term. When something happens, like for example, if they'll grow enough to be noticed by legal authorities and they'll be forced to introduce KYC procedures, what will they do? Shutdown or require KYC. Both options aren't proper for you.
9  Other / Off-topic / Re: BITCOIN HALVENING is taking place very soon! What are your expectations? on: December 11, 2019, 06:25:29 PM
I've seen some expectations from people around the community saying that the price might increase to $40k, $50k, $100k but it's hard for to me to believe in such predictions. It seems pretty obvious that the price will rise a lot and we'll witness new ath most probably, nevertheless we still have couple months until halving which means that unexpected events may occure during our waiting. All in all, it's always a good time to buy some more btc, just do it before the 2020 halvening and surely you'll see some profits.
10  Economy / Trading Discussion / Re: WILL CRYPTO BOOM AGAIN? on: December 11, 2019, 06:13:57 PM
I guess you mean altcoins..? Bitcoin will boom no matter what because it is Bitcoin but altcoins are very hard to boom mainly because there are very less coins which have a purpose and less cons than pros.

If BTC price will rise during the following days/weeks after the halvening - altcoins will follow. I don't believe that BTC will moon for example to 100k$ right after the halvening, but the price must rise and it will. Many altcoins are very dependent on the BTC price, even those smaller ones, even shitcoins.
11  Bitcoin / Bitcoin Discussion / Re: Have there been any money laundering schemes that used cryptocurrency? on: December 06, 2019, 10:38:21 AM
Because of there are still no regulations using cryptocurrency is a very common way of money laundering. Some time ago I found out that there are Bitcoin mixers (or tumblers) which "purportedly clean dirty cryptocurrency by bouncing it between various addresses, before recombining the full amount through a Bitcoin $BTC wallet hosted on the dark web". So as you can see that case is very serious and well known among people. What's more, there are companies like Coinfirm which is a leader in Anti Money Laundering and risk analytics for blockchain and cryptocurrencies so maybe in the future such crimes will be prevented. It's pretty interesting topic, you can find more detailed information on their website: https://www.coinfirm.com/blog/coinfirm-releases-new-standard-aml-risk-reports-for-cryptocurrencies
12  Bitcoin / Bitcoin Discussion / Re: Why are so few women buying into Bitcoin? on: November 29, 2019, 06:51:47 PM
I think it doesn't depend on gender? Why would it, it's a mainstream theme. Majority of community here are men, so maybe we should ask women why they aren't buying btc.
13  Economy / Trading Discussion / Re: Top 5 ways to recover your stolen or lost crypto on: November 29, 2019, 06:20:19 PM

I'm not trying to say stealing money is right thing to do but I would never pay more than what I have lost just to take revenge. They just don't deserve my money more than what they have stolen.


Fully agree, but it's not that simple. Usually crypto thievery revolves around small sums in a single case. Someone is stealing small amounts of crypto from many people, because no one will pursue him heatedly, such approach let those people run away with your money. Justice loses with clear calculation and I'm not surprised and I also wouldn't seek for vengeance if it turned out completely unprofitable for me - all in all it's all about money. The situation is different when it comes to biggers sums, for example stolen from some company or organisation and in this case, even when the chances for retrieval aren't high, it may be profitable for such to hire for example Coinfirm mentioned here. Of course it's better (and cheaper) to prevent rather than seek for help after the incident but sometimes even the best security systems fails to protect assets from being stolen. Everyone who gets into crypto should know the basics how to protect yourself and always be careful.
14  Other / Off-topic / IT department and labor market on: November 29, 2019, 12:41:14 PM
Guys, have you ever thought about how IT development affected labor market? I mean so many new jobs were created because of that, like social media specialist or CEO. There are and more marketing agencies, new mobile applications are needed, someone has to do that. Few years ago I wouldn't think that there will such professions like today
15  Alternate cryptocurrencies / Altcoin Discussion / Re: Why invest on a project because someone said they are good? on: November 29, 2019, 12:26:58 PM
That's the worst thing, people blindly buy hyped cryptocurrencies and invest in worthless projects. Especially now, when there are so many shitcoins everywhere. Always follow your experience and do your own research and analyze the market.
16  Bitcoin / Press / Re: [2019-11-26] China Shuts Over 100 Crypto Exchanges on: November 29, 2019, 12:13:32 PM
Oh boy... I'm so curious how will these shuts affect crypto market, what are your thoughts?
17  Bitcoin / Bitcoin Discussion / Re: How we can introduce bitcoin to local people on: November 28, 2019, 06:16:51 PM
Why? I don't think there is necessity to introduce Bitcoin to other people. Note, it could be very difficult to do that, for example to an older people, some of them don't what bank transfers are.  BTC doesn't need any advert or something. It will promote itself over time, take it easy
You should not close your eyes about parents, some parents at my place know about bitcoin technology and we used to talk about that technology. I think the best way to provide knowledge to local residents about this technology is by exchanging ideas, you will find that many people already know bitcoin but they don't know how to use it and there you can provide some information
Yeah, I don't close my eyes, I know that there are older people who are into that stuff. However I think they are a minority. I could be interested topic for some them, of course, but it might be hard to implement that to their lives
18  Bitcoin / Legal / Re: Money laundering via BTC on: November 28, 2019, 05:21:50 PM
People believed that they could launder dirty money with bitcoin by being anonymous. But it's only an apparent anonymity. The truth is that nothing gets lost on the internet and you can find every transaction and link it to the user. Anyone who commits a robbery should be punished. Companies that deal with AML and KYC procedures come to the aid. For example Coinfirm. Company that gained publicity through business partnerships with the biggest giants like Binance, Kroll, Coindeal, RSK, XAPO, Government of Gibraltar, Cointelligence.

If you are interested in what they do, you can find more information on their website: https://www.coinfirm.com/
19  Bitcoin / Bitcoin Discussion / Re: How we can introduce bitcoin to local people on: November 28, 2019, 04:51:33 PM
Why? I don't think there is necessity to introduce Bitcoin to other people. Note, it could be very difficult to do that, for example to an older people, some of them don't what bank transfers are.  BTC doesn't need any advert or something. It will promote itself over time, take it easy
20  Bitcoin / Bitcoin Discussion / Re: It is impossible to proof that somebody is Satoshi. on: November 28, 2019, 04:40:43 PM
I think that no one never will find Satoshi, rather this already became myth.

yeah, I doubt he just 'disappeared'....
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