Hello,

I didn't see any discussion about this. The SDF, the foundation that runs Stellar XLM, is currently accepting project applications for funding.

If you have a crypto project built on XLM that needs funding then you should apply. The deadline is August 22. The foundation has about 4 million XLM reserved for funding new projects.

I'm not going to share any links but you can easily find them through a quick web search.

If your project isn't ready yet then you can wait until October when the 4th, and final, funding round begins.

Coinbase does the same thing. Havn't checked if Binance does but wouldn't be surprised if they did.


The forex broker has a separate BTC address for all users accounts. The transaction history of this address has only transactions that match my deposits. Of course the forex broker has custodial control over this address.

I think that the first time I made a withdrawal the broker saved that withdrawal address as the only one that can accept withdrawals in the future.

The timeline must have been like this:

I deposited to the forex brokers BTC address that they created for my account.

On June 25 I withdrew some funds using my Shakepay address. The broker saved that address however Shakepay changed it once the transaction was complete.

July 29th I attempted to withdraw again using the new address that Shakepay listed on my account but it failed because it did not match the address I had used to make the first withdrawal. I expect that, had it been my first withdrawal, the transaction would have been successful.


Yes the address has an incoming transaction from the FX broker and an outgoing transaction when I sold the BTC for fiat. Now, after my last withdrawal it has more transactions but Shakepay and other exchanges recommend against using the same address.

I was aware of their AML policies before I opened an account. What I didn't know is that exchanges will assign new addresses after every transaction.


I only use them as an on/off-ramp, I wouldn't recommend anyone hold assets in any exchange.

Assigning new addresses to users after every transaction seems to be standard practice with exchanges now. I've confirmed that Shakepay and Coinbase both do this. I can also confirm that these new accounts are not pooled with anyone else. The address that Shakepay created for me has only one incoming and outgoing transaction that matches the transaction I made.

The exchanges probably hold the keys and monitor all these addresses.


I think I'll side with the FX broker on this one since it would be heaven for money launderers if they could deposit BTC from one address and then withdraw to a completely different one. 

Thanks. That is solid advice.

Though having to pay double the transaction fees will be slightly annoying at least until they add functionality for other types of crypto.

When I talked to the forex broker about this they insisted money be withdrawn to the wallet used to make the initial deposit. I can't have been the only one who experienced this so they must have some sort of policy in place for extreme cases. Either that or they continue to refuse to make the withdrawal forever which benefits them since the money in the broker is effectively theirs.

Coinbase support says that all previously used wallets remain tied to the account and are never removed. I wouldn't be surprised if Shakepay works the same way however their support is pretty bad and I've still yet to receive a reply from them.

In any case, I feel lucky that I got my money out and will stick to wire transfers for now while I wait for banking institutions to adapt to new tech.

You mean an address previously used for my account may eventually be used for someone else?

After digging I found that on June 25 I had made a successful withdrawal from the forex broker to a BTC address. On Shakepay I see I received BTC on June 25th and cashed it out. The amount I withdrew and cashed out is nearly identical. Blockstream also shows that it was sent to the address that the forex broker wants me to use.

Coinbase say they change the address but the old ones remain tied to the account.  Must be the same for Shakepay.

For now I've withdrawn a small amount from the forex broker to the specified address. Will wait and see if it ends up in my Shakepay account.

UPDATE: I just received the small amount from the forex broker. I guess the old address is still valid and tied to my account. Quite a nerve wracking experience though, I had a lot of money in that forex account and brokers are notoriously strict about AML policy partly because they don't want people to withdraw.

Shakepay is a Canadian exchange so the prices you are seeing are in Canadian dollars. Can't say much about their API but the website looks like it was made from the same template as YouHodler.

I did find out that I had made a successful withdrawal in mid June to the same address that the forex broker wants me to use.

My guess is that Shakepay changes the address after every transaction like Coinbase claims they do.

Definitely something to keep in mind for the future. Waiting for Shakepay to respond and give me a list of all addresses tied to my account as well as confirm that they do change the address.

Forex has very strict AML policies. Cash can only be withdrawn to the same source that made the deposit. They've specifically told me that they can only withdraw to the same BTC address that made the deposit.

Looking at the transaction history of my broker BTC address I can see my deposits being made. Searching for the address I have with the exchange shows that no transactions have been made on that address.

What is strange is that the address the forex broker tells me is the one that made the deposit has only made 2 transactions while I've personally made several.

At first I'd assume that it is because the exchange uses a pool as Danny has said but if it was a pool wouldn't there be more than 2 transactions on that account?

If I'm allowed, I can share the relevant BTC addresses.

Also, there doesn't seem to be any issue withdrawing from a separate account back to Coinbase.

EDIT. Found the address. Apparently Shakepay sometimes changes the address, maybe after every transaction.

Hi,

I'm having a tough time understanding this problem.

Awhile ago I deposited some money into an exchange, bought some BTC and immediately deposited it into a forex account.

Now when I try to withdraw the forex broker tells me that my wallet address I have with the exchange is not the same one that originally sent the BTC. This can't be true since I have the transaction history on the exchange and know that I sent it from there right after buying.

What is going on?

The BTC exchange I am using is Shakepay.

Happens in forex too. A lot of traders blame this on "manipulation" instead of trying to understand their own emotions that led to them buying high and selling low.

Gotta agree. Meme tokens are a get-rich-quick scheme and it'll be a great day when people stop pumping memes trying to get rich off of them.

Interesting.

So to summarize the major points, what investors like to see are:

*Roadmap and roadmap completion
*Wallet addresses
*Information on team members and activity on social media

Minor points are:

*Team competency
*Verification by bounty managers or certification services

What I find interesting is that almost no one mentions any sort of governmental or institutional regulation.

I am asking about projects in general.

Many projects will raise money for development by selling tokens. There have been many projects that will sell tokens and run away with the money.

I want to know what the community would like to see changed in this topic to prevent this from happening in the future.

More public development teams for sure but is there anything else a project can do to build trust?

Pretty sure altcoins have even more risk than BTC.

Hey everyone,

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

What are you looking for to verify that they won't run away with the cash?

Any ideas on how a project can build trust with the community on this topic?

What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?

That was true.....50 years ago. Today it is very different since most university students and graduates are women and childcare services are more accessible in western countries. It is rare for a woman today to be a housewife unless you go to Pakistan or Saudi Arabia.

Interesting thing about Vietnam is that they often try to ban things but are never able to enforce it. Maybe someday the government will have enough money to start enforcing like China.

I think it has a lot to do with risk aversion and seeking security.

Men are much more likely to risk everything on a start-up that can go bust while women seem to enter only when the conditions are all in favour.

I find that women make better investment managers in this way.

I am a little surprised there are not more Vietnamese here. Is it difficult for Vietnamese to access crypto?

Vietnam has a young population who are very familiar with new technology. This youthfulness will probably make them accept crypto much faster than other countries. There was a poll done in 2020 that found 21% of respondents in Vietnam had held or used crypto at some point. That's huge compared to the USA which reported only 6%.

Hopefully the Vietnamese government follows the Singaporean authoritarian model and not the Chinese one.