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901  Other / Beginners & Help / Re: Safest Way To Access A Wallet... on: August 28, 2018, 02:24:44 AM
Hardware wallets are the best way, as already mentioned, but running an offline wallet is potentially just as safe. MyEtherWallet, which has also already been mentioned, can be ran locally offline. Here is their tutorial:

You're going to need an air-gapped computer for this to work though.
902  Economy / Economics / Re: Huobi's Fierce Move to March Forward on: August 27, 2018, 03:17:49 PM
To be fair it does feel like most exchanges abide by their own rules and do what's best for themselves instead of their customers. Roll Eyes

Well they are businesses, and despite what they may say, their primary purpose is to make money, not to serve customers. That doesn't excuse bad service though so people should still vote with their wallets.

It's always good to hear there are constant investments in exchange infrastructure.

Yeah, we should all be rooting for crypto businesses to succeed, not to fail. That only goes for legitimate ones though lol.
903  Economy / Economics / Re: Turkey’s economic crisis can trigger the next crypto bull run on: August 27, 2018, 01:56:54 PM
It's either boost the bitcoin price or drop it again,and you are right dude turkey is a develop and good economic country but they are not enough to take big effect on crypto industry..if maybe if China or japan since this this giant countries has a large effect on the crypto community and crypto market if having economic crisis

I'd say they're big enough for their presence in the market to be felt, their citizens simply don't show enough interest. It's true that their trading volumes have been spiking but they've been small to begin with so the resulting numbers would still be small.

The article is using the fact that some banks aren't letting people buy foreign currencies as a basis for Bitcoin's growth but the far more likely scenario is the rise of a foreign currency black market like Venezuela's.

Edit: words
904  Bitcoin / Bitcoin Discussion / Re: Blockchain's gift of Pseudonymity and how we lost it on: August 27, 2018, 08:57:53 AM
The moment you cash-out your bitcoin to a bank or an exchange or to any other means that requires a real world identity, pseudonymity is lost. Satoshi's rally for privacy goes down the drain. Your identity is uncovered. They can already trace your bitcoin wallet address and all other wallet addresses you transacted with.

Did satoshi really rally for privacy though? I genuinely don't know. I always thought that the focus was on decentralization.

I do get your point, but wouldn't it be the same thing when let's say, you buy an item off a merchant directly with Bitcoin? Your identity will be uncovered one way or another, and they can just as easily trace everything you mentioned even without banks. I'd say the way out is mixers because you can cut or at least shorten your trail with them, but the moment you transact with another person (or most of the time anyway), you cede some level of privacy.
905  Bitcoin / Bitcoin Discussion / Re: Your Experience with Bitcoin Fees? on: August 27, 2018, 06:23:54 AM
According to I should have paid 4 satoshis per byte, amounting to 0.04 cents.

You can use instead for a more conservative estimate. The tool you're using shows the cheapest and fastest fee, so it will always be a little higher than what you could get away with. The coinbin one, on the other hand, suggests a fee just good enough for the next few blocks so it's perfect if you aren't in any hurry.

The whole thing was almost implausibly good.

I know right? It works on every corner of the globe too. The problem is that fees could inflate when the network is subjected to too much load. Once that problem is solved, it can be a serious and disruptive competitor as a payment system. Let's see people call it a bubble then lol.
906  Bitcoin / Legal / Re: Determinations of KYC and AML on: August 27, 2018, 05:28:10 AM
Their headquarters, where they plan to operate, and if they're even registered. They may also implement KYC procedures even if they aren't required by law.

If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
907  Economy / Economics / Re: CHINA BLOCKS ACCESS TO OVER 120 EXCHANGES on: August 27, 2018, 04:06:10 AM
This isn't surprising at all given their exchange crackdown and trigger happy firewall additions. Remember, this is a country that banned Winnie the Pooh because of memes lmao. They can get away with whatever whenever for as long as they can keep their economy afloat -- exchanges stand in the way of that in their eyes.

China ban again. IMO, Crypto enthusiasts should look beyond China, sooner or later China will come around. I believe if we can survive for long with China ban in place, then the market is mature beyond China incessant bans.

This isn't a new ban, just a fresh round of enforcement. The ban started last year.
908  Other / Beginners & Help / Re: HODL Reminder: Bitcoin Halving is just around 650 days away on: August 27, 2018, 03:10:55 AM
Is there are direct correlation between Bitcoin halving and Hodl ideology? Did last halving in 2016 had direct influence to Bitcoin price? I think that halving is mainly important to miners and I think that upcoming halving shouldn't be an important reason to hodl.

There is some correlation. Let's take this article as an example:

What makes bitcoin price analysis more complex are the technical events programmed into the distributed network. One such major technical event – a Bitcoin block reward halving – took place in 2016. If 2012’s halving is to be used as a benchmark, the Bitcoin price could garner many headlines in 2017.

This was written in 2016 after the halving, and Bitcoin price did make the headlines at 2017's end. There's no immediate impact, but halvings have preceded wild bull runs thus far (twice). Correlation doesn't imply causation so nothing is certain, but there absolutely is reason to be optimistic.
909  Other / Beginners & Help / Re: A beginner question on: August 27, 2018, 02:16:24 AM
Another thing: don't use the "Bitcoin Wallet" app by It also supports Bitcoin Cash, which may get confusing especially for a beginner. As others have said, it's better to sign up for an exchange (where you sell your coins for cash and cash them out to a bank account or a similar method) and receive the Bitcoins directly there if you plan on cashing out directly anyway.
910  Bitcoin / Bitcoin Discussion / Re: Can someone explain in simple words what's the SEC and why we need it? on: August 24, 2018, 03:47:58 PM
I hear so much about the SEC in the last few weeks. Can anyone explain what's so important about this decision. why it's good for the market, and why we get rejected?

What's so important about it:

It can attract institutional investors into the market and can potentially solidify Bitcoin's status as an asset class. It's not without disadvantages though, as you can tell by the split opinions of the community.

Why it's good for the market:

It can potentially raise demand and, consequently, prices.

Why we get rejected:

The SEC thinks the Bitcoin market is too vulnerable to manipulation by unknown individuals, among a few other more minor things. This specific factor likely means no Bitcoin ETF will be approved in the near future.
911  Bitcoin / Bitcoin Discussion / Re: Why Banks on blockchain? on: August 24, 2018, 02:31:04 PM
This has already been talked about a number of times before, but yeah. In a nutshell, it has the potential to streamline processes and lower overhead. Banks and blockchain technology aren't incompatible just because the crypto community is hostile towards banks. Here's a good read on the subject:

Nothing is set in stone yet though, and it's going to be a while before we see these applications in action.

Edit: words
912  Bitcoin / Bitcoin Discussion / Re: A company just patented Bitcoin transactions via SMS on: August 24, 2018, 07:55:42 AM
A computer or an internet connection it would be positive, pity its pushed by bitmain.

I thought I'd clarify, the SMS patent was not filed by Bitmain, so don't bring out those pitchforks just yet lol. It was filed by US tech company Intuit:

OP's article was a week's worth of news and it just happened to be headlined by Bitmain's IPO.
913  Economy / Economics / Re: No threads on the ETN? on: August 24, 2018, 07:16:29 AM
It seems that everyone is stressing out and desperately hope for an ETF to pass in order to lift the market up, but it's not going to happen. People shouldn't fool themselves that good news is important now. It's not.

The initial hype where news media were reporting that a Bitcoin ETF was sure to be approved was able to spark a $2k spike though. It could be argued that an actual approval could have a larger effect.

The ETF isn't going to happen anytime soon, but good news have always been important in the crypto market and I don't see that changing for the foreseeable future. It just so happens that this ETN isn't being talked about by anyone important and is hard to grasp for the average joe to boot, so it's dismissed as trivial. Makes me wonder, if the Winkelvoss twins hadn't been actively pushing for a Bitcoin ETF, would people even care about them?
914  Bitcoin / Bitcoin Discussion / Re: Any way to use bitcoin to pay some entity that requires bank transfer? on: August 23, 2018, 12:52:40 PM
Well, some exchanges let you cash out directly to a target bank account, so for as long as they don't force you to match your deposit accounts to your identity, you should be able to cash out directly to a merchant's account. I personally wouldn't do anything of the sort, but that's one way of doing it.

You technically don't need a bank account to pull this off so if bank wires to merchants are the only reason you ever use banks, then yeah you won't need them anymore lol.
915  Economy / Speculation / Re: Will ETFs help to contain Bitcoin price rises? on: August 23, 2018, 12:05:56 PM
The only problem with custody solutions holding tons of coins on behalf of institutions, is the fact that it grants them a serious amount of voting power within this ecosystem in the future, which is something I completely disregarded initially due to my excitement. For that specific reason I hope that we'll not be seeing any actual coin backed ETF's pop up in the forthcoming years, regardless of how much it could pump the price in the future.

Are ETFs the only way for institutional investors to inject their money into the market though? I feel like when it's all said and done and they wanted to dip their toes into the market, the lack of ETF approval won't stop them. They don't exactly have a barrier for entry given the open nature of the market after all, so rooting against that option may not amount to much in the end. Then again, closing it off does give them one less reason to enter.

Either way, it's likely going to be at least a few couple of years before we have to worry about an actual ETF approval thanks to the market's vulnerability to manipulation.
916  Bitcoin / Bitcoin Discussion / Re: Japan's FSA Declaration about Cryptocurrency Regulations on: August 23, 2018, 11:06:59 AM

Yeah but the same article has 10 things Kraken couldnt DO that the regulator requested...some of them not possible...


And it doesn't seem Japan has made any effort to make it easier for exchanges since that time to actually do business there.

That part of the blog you quoted wasn't referring to Japan though, but New York's inquiry regarding their application as a money-services business. NYAG means New York Attorney General lol. You can find more info about it here.

The section below what you quoted talks specifically about Japan and is headlined by "Our Departure from Japan". They did encounter difficulties, but as they said themselves, Japan's regulation is at the very least, relatively reasonable.
917  Bitcoin / Bitcoin Discussion / Re: Japan's FSA Declaration about Cryptocurrency Regulations on: August 23, 2018, 09:17:20 AM
This is the right way to go in my opinion. Regulate cryptocurrency businesses, but as much as possible, leave the users alone. This way, they're basically treating it like fiat in a sense where most of their users just want to go on with their lives and that they're usually the victims of abuse by businesses.

They might tell the media they embrace crypto but exchanges wouldn't have left the country if they felt welcome in the country.

Funny you should mention Kraken feeling unwelcome when they themselves actually think Japanese regulations are a step in the right direction:

While Japan’s VC Act isn’t perfect, it is a good example of what (relatively) reasonable regulation can do for a country.  Huge, traditional financial services are rushing in to crypto.  For them, certainty is everything and now they have it.  Japan’s crypto market is sure to be highly competitive, which is a great thing for consumers.  I have to give the FSA in Japan a tremendous amount of credit for getting it together.  They are a fine regulator to work with.  Hopefully, Kraken will find an opportunity to re-enter the market in the near future.

They also go into some detail as to why they left Japan in the article, and it's definitely not because they felt unwelcome.
918  Bitcoin / Legal / Re: Proposed ETF rejected by SEC - great news for the market! on: August 23, 2018, 07:31:33 AM
3. SEC used your excitement to control the market price of bitcoin to some extent. With every delay announcement, market took a dip because you guys thought this ETF will be a great addition to the market. Wrong!

Did this actually happen? I know a few people were upset by the delays and the eventual rejection, but I never really observed any significant market reaction besides the initial one that bumped prices up to $8k.

But yeah, people waiting for an ETF approval shouldn't hold their breaths. Here is a roadblock that probably cannot be addressed in the near future:

Rather, the Commission is disapproving this
proposed rule change because, as discussed below, the Exchange has not met its burden under
the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is
consistent with the requirements of the Exchange Act Section 6(b)(5), in particular the
requirement that a national securities exchange’s rules be designed to prevent fraudulent and
manipulative acts and practices

There are other ETFs pending for approval if I remember correctly, and if the SEC can be at least a little consistent with their rulings, they're going to get denied as well.
919  Economy / Economics / Re: No threads on the ETN? on: August 23, 2018, 06:28:11 AM
Nothing launched now will have much take up. Interest is dead. I expect this to see a major uptick in a bubble just like everything else.

I don't think interest is still completely dead. I still see plenty of people talking about it. Since people seem to care more about its actual approval rather than what its approval will bring to the table, it's still likely to cause a spike, which in turn may trigger a bull run. The market will be running on hype like it always has.

Whatever though, I still don't believe any Bitcoin ETF will be approved anytime soon.
920  Bitcoin / Bitcoin Discussion / Re: A company just patented Bitcoin transactions via SMS on: August 23, 2018, 05:53:10 AM
So you basically text the details of your transaction to a central service (which you signed up for) and they proceed to send out that transaction for you? So they're essentially offering a wallet service you could control by SMS? I'd say it's not exactly groundbreaking innovation, but assuming security concerns are addressed, this might actually help drive adoption, especially in impoverished countries. I know I'd love to try it out.

Good that they're working on making it more accessible to people, still have to go through the annoying 2-3 hours transaction speed though -.-

Where did you get this figure? Are you referring to the SMS service or the Bitcoin network in general?
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