I remember this being pushed on a FIRE Youtube channel and said it was a ponzi then. Funnily enough the comment didn't last very long.

Interesting how sexual deviance often seems to go hand in hand with financial deviance. The Mintpal scammer was a rapist too. And then there's our Calvin with his unusually aged chickens.

I doubt he's going to get much of a sentence. They rarely do. Hope springs eternal all the same.

The main source of funding is stolen dollars. They haven't explained how you turn a large amount of those into Bitcoin. You're going to have your work cut out.


https://www.forbes.com/sites/nickchong/2020/06/18/boltons-book-president-trump-wanted-to-go-after-bitcoin-as-early-as-2018/#1c4acede4e0c

According to John Bolton's yet to be published book our Donald wanted to 'go after' Bitcoin in 2018. Not sure what that actually means.

When I first got interested in buying Mt Gox was still the prime recommendation as the place to buy.

I knew absolutely nothing about Bitcoin but after five minutes of googling I discovered it's - in Japan so would take weeks to get money there, it's been hacked before, they showed people's passwords in the browser, the CEO sits on a beach ball and looks like a mong, there's zero regulation.

THIS is Bitcoin's premier league operation?

I discarded the idea instantly and went straight to Localbitcoins where a trader took care of me.

I used a wiped laptop with no wifi card to create encrypted folders on multiple micro SD cards. They get placed in various areas around the globe and are regularly replaced. They're only accessed on the same computer. There's no reason not to encrypt them

I'm not really a fan of anything written out in the open like paper or steel. You're creating a security problem that doesn't need to exist.

Erm, why? What's wrong with recognising you're not very good at it? Does admitting otherwise somehow make you go against the cult? Most people are not very good at it and never will be. They don't have the necessary mastery over their own psychology. Most traders wind up worse off than how they began. That's how it's always going to be.

That will prove you control those keys, nothing else. It is of course extremely compelling but not definitive. I'm not sure anything is when someone's entire story has taken place via channels that can be passed on to someone else.

And a Satoshi turning up now and attracting a following would be so out of character from everything that has gone before that he'd attract just as much suspicion as our favourite tubby Australian.

The name of the card issuer is kind of irrelevant. As far as they're concerned it's a completely normal bank account like all the millions of others they run. It's the fooling them aspect that's the sketchy angle of the whole thing.

Okex employees alleged the same when it was Okcoin. They were told to go trade. I'm not sure why either. Perhaps it looks a bit more convincing with the human factor involved. I remember times in the Chinese casino days when their volume bots broke and it went to instant deadness. That's not a great look.

In a normal world this would be the case, crypto is not a normal world.

To me he kind of encapsulates the whole thing pretty neatly. He hasn't achieved anything. He doesn't make or develop anything. Nothing he has touched has been a success. But he manages to make a lot of noise and give a lot of people erections even though they know deep down they're going to wind up getting fucked.

That's most shitcoins in a nutshell right there.

So does a good gambler. Plenty of them are world class experts in the areas they gamble. It's not all one armed bandits. Deep knowledge can put you ahead of others. I regard trading as the same as gambling. A decent proponent of either tries to apply some knowledge to their moves and manages risk but it's all still totally up in the air.

Kudos to OP for admitting it's not for them. More people would be more happy if they could admit the same to themselves. For many newcomers it's the first thing they dive straight into whereas it should be the absolute last thing they attempt.

I think the lost coin figures are humongously over estimated. The ones we can be 100% certain of, burnt coins, publicly declared dead hard drives etc, only number in the tens or low hundreds of thousands. Everything else is fair game. We saw 2009 coins moving recently and I'm sure most people considered them 'lost' until they moved.

I have coins which would probably be regarded as lost because they haven't budged for so long but they are of course fully accessible. I have old .txt files with 10 year old wifi passwords so the idea of everyone losing everything from the early days is ludicrous.

It can depend on what type of coin you're sending. NEM always needs an individual message sent with the tx for some reason and I've lost count of the number of people who forgot that and wound up with nothing arriving at the exchange. Not sure how many got their issue solved.

It's definitely something I'm conscious of with coins I'm unfamiliar with. A lot of them have some odd little quirks in how they operate.

Look at how quiet everyone's being compared to when India and Pakistan kick off. All parties know this is one fight they don't want to escalate. This is will be a sad footnote that'll be buried rapidly. There'll be plenty more in future. None of them will lead to anything further.

Even if Satoshi himself launched Satoshicard he'd have to do the same. They're no doubt assholes but all this is par for the course.

Does this fully replace their existing card? There seem to have been an increasing number of niggles with the existing card.

Much more dangerous and common is being KYC free up to a certain limit. But a lot of the time you get it thrown at you even if you're nowhere near the limit. That's how the shittier exchanges make some money. They'll either keep pretending that your documents aren't good enough or hope that you'll leave in disgust without withdrawing.

I wouldn't bother dealing with an exchange without proper KYC being done, and the exchange being half decent of course and there aren't many of those.

When they say 'giveaway' they usually mean that posters come to the thread and highlight their posts that they feel should be merited but went unnoticed. I've hardly ever seen any where they're given out to any old nut job.

The forum got battered by so many assholes that merit was introduced to keep the scum at the bottom of the barrel. Be not scum by being wonderful and you'll start to work your way up.

You'd better have an absolute stranglehold over mining if you attempt this or some other pool will scoop it up instead. And if these coins are red hot then no sensible pool will hand it back either. None of it makes sense but money laundering via fees doesn't either.

Changelly are another place that springs KYC on you out of nowhere and have openly stated they will keep your money if they decided you haven't 'passed'.

I for one would not put anything more than chump change through them and I don't trust them.

Shapeshift did one and really they shouldn't have done it as it looked just like all the fake ones on the surface thusly adding to their validity. If no legit company had ever done it then that adds an extra layer of caution.

You'd be breaking the law if you live in a place where that law applies. The act of handling money without following the rules is a crime in itself. Obviously you have more problems if that money is crime related too but even if it's completely clean you're still flouting rules they take seriously.

If it was a few bucks here and there no one's going to care but you're talking about pretty large volumes and at some point that might alert someone. No one's getting executed or anything but it's going to be problematic.

There's real money involved which means real law applies just as much as anywhere else. It's no longer an internet obscurity. People need to figure that out before they embark on things that could end up getting very messy.

If this was 2011 then it would be a different matter. It isn't. Enough places have clarified the legal position now. If you're in a place where it is clarified then it's clear enough what needs to be done.