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1  Alternate cryptocurrencies / Altcoin Discussion / LakeBanker CSO: Civic’s ICO was ‘North Korean style’ on: August 10, 2017, 03:46:00 AM
“We can't disagree more about Civic's token distribution methods,” LakeBanker CSO Dr. Andrew Joseph McCarthy explained to Cointelegraph. “LakeBanker and Civic have nothing in common in this regard.”

“To us, their approach is North Korean style. This is due to several factors,”

“An arbitrary fixed price is set, which is not the market price. A bunch of rules are set to stop people from purchasing their tokens. Many limits are just random numbers without much logic or data to support them. This is not a free market.”

2  Economy / Service Discussion / the future of Bitcoin and us - LakeBTC Exclusive Interview! on: January 17, 2015, 02:55:33 AM
okay, the title I added, and reprinted two paragraph...


Where do you see bitcoin in 10 years – first in terms of value and second in terms of where it will fitting into both online and off-line commerce?

LakeBTC: As an exchange operator, I’m not in the position of price prediction or investment advice of any kind. It’s subject to conflict of interests or market manipulation in some sense. Our job is to make sure the marketplace is fair, efficient, safe, and liquid.

Besides, I really have no clue where the price will be tomorrow, not to mention in 10 years. If I did, you’ll see me running a hedge fund making tons of money, instead of an exchange earning a very thin commission fee here. A year in the bitcoin world is like 50 years in other capital markets. Maybe we will have a better idea when we introduce futures contracts with 10-year maturity like Euro-dollar futures in CME.

However, since I’m devoting my time and efforts to this bitcoin industry, you can tell I’m bullish overall. Blockchain is a great innovation and it surely will change the world in many ways. Bitcoin will not die, and it’s unlikely to be taken over by other altcoins. In the five years since its inception,  the development of bitcoin is always accompanied by large swings. The volatility and the speculation help bitcoin building value rapidly.

Bitcoin is more like an asset class or commodity than a currency, since to a currency, price stability of bitcoin is particularly important. Another thing is confirmation time. A possible solution is to introduce centralized payment processors to the de-centralized bitcoin system.

In general the value of a currency will increase as more and more people get to use it.  We are optimistic about the future of bitcoin as LakeBTC is committed to provide an even user friendly and secure platform for users, we are confident that bitcoin will play a more important role both online and offline commerce.

What, as bitcoin enthusiasts, should we be doing to get ourselves prepared for this future you speak of?

LakeBTC: There is a theory out there that people who know of bitcoin will love bitcoin, so we as one of the bitcoin enthusiasts, it’s our duty to speak up and get your friends to understand and use bitcoin. From time to time LakeBTC also have campaigns and give out free bitcoin to encourage new users to try it out.

3  Economy / Speculation / lol, A Guide to Quitting Bitcoin (reddit) on: January 14, 2015, 07:35:59 AM

With the ongoing price decline, I think the community needs a proper guide to quitting bitcoin. May I also be so bold to suggest we link this in the sidebar?

Step 1: Panic Sell: Quickly go to your exchange of choice (preferably one located in a country other than your own) and sell all your bitcoin. Don't even risk owning the smallest fraction of a coin. If you really want to commit to quitting, do it right and sell everything.

Step 2: Seek Validation on Your Favorite Bitcoin Forum: It is simply not enough to sell all your bitcoin. To ensure that you later don't have a "change of heart," it is required that you announce your departure. Regular bitcoin users also like to see who is leaving, so it is important for you to tell them. You won't believe how much strangers on the Internet care!

Step 3: Make Sure You Know Your Talking Points: People leaving bitcoin need to have a reason why. Make sure you have one in your pocket especially during step 2. Please choose one of these: "Price Volatility", "Centralized Mining", "Fixed Supply".

Step 4: Enjoy the Freedom from Bitcoin Shackles
4  Economy / Service Discussion / 48h immediately to the past, on: January 09, 2015, 02:31:03 AM
5  Economy / Economics / It can bypass bank transfers on Bitstamp and LakeBTC? on: August 14, 2014, 08:38:48 AM
LakeBTC is an ripple gateway now, and Bitstamp has be a gateway for long time ago. ( )

The coindesk article says "Lets Users Bypass Bank Transfers with Ripple" ( )

How is it done to bypass the bank?
If I deposits/withdrawals cash/bitcoin with ripple on Bitstamp/LakeBTC, is it really that I don't need to have any contact with any bank?

Does anyone tried it? how about it and how much the fee?
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