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1  Other / Beginners & Help / Re: Bitcoin Virgin on: January 27, 2021, 12:24:39 AM
Got some bitcoin in White Santa Christmas exchange.

I'm not familiar with this term. Could you clarify what you mean? Did you buy the bitcoins, and if so, how did you pay for them?

All I have is a piece of paper that has a mnemonic seed and private keys.  I have no idea what to do next to access the bitcoin. Any help appreciated.

If you paid for bitcoins and didn't verify whether they were sent to a wallet you control, there is a chance you were scammed. Receiving seeds or private keys this way is considered insecure, since the person who gave them to you still has access to the bitcoins.

If the mnemonic seed you received truly contains bitcoins, you can access them by importing the seed into a Bitcoin wallet like Electrum. Only download from electrum.org, and verify the GPG release signature to make sure you're not downloading coin-stealing malware.

If you're having trouble importing the seed, see the FAQ.
2  Other / Beginners & Help / Re: Adult niches and BTC on: January 27, 2021, 12:11:45 AM
I don't know if any of the well known payment processors would want to be involved with anything related to in-person sex work after what happened to Backpage when they were accused of money laundering because they used crypto. You will probably have to set up BTCPay Server if you really want to accept Bitcoin.

The OP will certainly need to use a non-custodial service. Few, if any, regulated payment processors will knowingly transmit money for businesses with proximity to sex trafficking allegations.

As I mentioned above, there are some non-custodial WooCommerce plugins that would fit the OP's needs. He can have TripleA's plugin set up in minutes, so there is no need to overhaul his entire e-commerce setup with BTCPay Server.
3  Other / Beginners & Help / Re: Having Difficulty on blockchain on: January 26, 2021, 11:50:55 PM
I have been having difficulty in buying bitcoin from my blockchain app. It always shows it's not available in my location So i can't buy and sell.
Which app can I use in buying bitcoin easily

Where are you located? What are your payment options? That will greatly impact the answers you'll get.

If you can pay with credit/debit card or ApplePay, you can buy through AQUA wallet. If you use BRD wallet, those options expand to include bank transfers.

You can also use Coin ATM Radar to find a Bitcoin ATM near you, where you can pay with cash.
4  Other / Beginners & Help / Re: Adult niches and BTC on: January 26, 2021, 11:33:09 PM
Hello everyone! I need help. The webmaster I've hired to renew escort sites used woocommerce to rebuild. Since I want to make BTC accepted, which one would be the best WP plugin to use?

Thanks in advance!

The best reviewed and most frequently updated plugin I can find is TripleA's Bitcoin Payment Gateway for WooCommerce. It's easy to set up, non-custodial, with no registration or logins required. They also offer the option for bank settlement in your local currency for a 0.8% fee.

They are Bitcoin-only, so you'll need to choose another plugin like GoUrl if you'd like to accept altcoins.

Coinbase Commerce also has a WooCommerce-compatible plugin but it hasn't been updated in a long time.
5  Economy / Service Discussion / Re: Earning Bitcoin whilst maintaining private keys on: January 24, 2021, 04:45:21 AM
I have been looking into Wrapped Bitcoin and liquidity pools and earning interest but seem to be getting lost in circles trying to find the right answers, perhaps there isn't a way to do it now whilst still maintaining your bitcoin on your ledger or trezor or whilst maintaining your private keys?

There is no way to lend bitcoins in a fully trustless or decentralized way.

Wrapped bitcoins carry custodial risk -- WBTC is backed by bitcoins held in BitGo's custody. The yields for WBTC lending are quite low too, much lower than BTC lending rates on BlockFi or Nexo.
6  Bitcoin / Bitcoin Discussion / Re: Random thoughts on future Bitcoin supply on: January 24, 2021, 04:32:30 AM
I don't hold lots of bitcoin; there are people who own thousands of bitcoin. What if they die suddenly without sharing anyone about their wealth? We have lost lots of bitcoin already from the circulation but after a decade or two, I guess the number of lost bitcoin will be huge. The supply of bitcoin is limited by nature. With the lost bitcoin, it's getting more scarce. At some point, after few decades, the supply will huge limited.

My theory is that the rate of bitcoins lost is inversely related to the price. As they've become increasingly valuable, security has become of the utmost importance. Hardware wallets are the norm for new users. Institutions only want to work with qualified custodians with battled-tested cold storage.

I also think we are entering an era where bequeathing bitcoins will become commonplace, both through trusted legal channels and privately.

What effect do you think will it have on bitcoin? Certainly, you may think that price will be higher. Well, it will certainly but will it anymore be usable? With very much limited supply, won't it create disruption? Or, it will be as precious as diamond; I mean very much rare.

It's still a donation to the rest of us in an economic sense. In terms of network effect, I would anticipate a much larger network in the future regardless -- it doesn't matter the number of coins that are lost.

Future adopters just won't own as many bitcoins as early adopters. That much is already obvious.
7  Bitcoin / Bitcoin Discussion / Re: Why kids born in 2140 don`t get a chance to mine rewards? on: January 23, 2021, 11:53:59 PM
Bitcoin is 89% premine to any kid born today.
In 2140 it is 100% premine to any kid born that year.

A pre-mine refers to initial creators allocating themselves tokens before public launch -- before a protocol can be publicly mined. That clearly does not apply to Bitcoin.

Anyone who wants to mine for bitcoins can do so. In fact, they can continue to do so after the year 2140. They'll just collect transaction fees only instead of newly minted coins.

Why the future generations don`t get any rewards?

They will get the reward of sound money. Wink
8  Bitcoin / Bitcoin Discussion / Re: Biden treasury secretary nominee Yellen says "curtail bitcoin" on: January 23, 2021, 11:39:07 PM
Quote
The Treasury Department -- which Yellen is about to oversee -- has more relevance. They can bring Bitcoin within the purview of existing MSB regulation. They can mandate strict reporting requirements for Bitcoin businesses so that spending or selling your bitcoins comes with onerous AML/KYC. They can work closely with the IRS to leverage new AML/KYC requirements into a tax enforcement and compliance program.

I have never used p2p , does it still go through a regulated exchange ? 
Starting to look scary

P2P exchanges have become subject to regulation too. LocalBitcoins began requiring KYC verification in 2018, and Paxful followed suit a year later. LocalCryptos is holding out, but being based in Australia, I'm not sure how long that will last.

You can check KYC, not me! for a running list of exchanges you can use without KYC.
9  Bitcoin / Legal / Re: Cryptocurrencies Face Greater Oversight Under Gensler-Led SEC on: January 23, 2021, 11:20:20 PM
From what I have seen Jay Clayton in an interview said that Bitcoin is identified as not a security so probably when it comes to law making and regulations coming from the SEC we won't see a direct affect to it towards Bitcoin since its not one of their concerns.

The potential intersection I see: Bitcoin exchanges. The vast majority of exchanges support various altcoins and tokens -- that could potentially put them under SEC jurisdiction regardless of Bitcoin's categorization under the law.

My suspicion is that's what Gensler was referring to when he suggested bringing exchanges under national registration and monitoring. He wants them subjected to the Securities Exchange Act and defined as national securities exchanges.
10  Bitcoin / Bitcoin Discussion / Re: Faketoshi, meet: The Streisand effect on: January 22, 2021, 10:45:38 PM
I think the fact that bitcoincore.org removed the whitepaper is already a huge win for him, some people would view it as a proof that he might be Satoshi and CWS himself would probably try to use it as such in the future.

I didn't realize Bitcoincore.org removed it -- that was fast. It's rather sad to see Core developers immediately giving in to this sort of bullying. Undecided

I understand the practical argument that the whitepaper doesn't need to be hosted there, and that a legal case would just be a financial burden and distraction for the Core developers. Still, it's sad to see and it does give Wright a way to declare victory.

Wright is going after Square now, which probably isn't very smart. Unlike Core, Jack Dorsey might be willing to litigate.
11  Bitcoin / Legal / Re: Faketoshi CSW vs C°bra Bitcoin on: January 22, 2021, 10:21:25 PM
This guy do really need some attention. what he's trying to prove out? All of us in the community know that he's isnt satoshi and now he's trying to fight about copywright claim on thing that he dont actually own?

This has nothing to do with the Bitcoin community.

He is making a point to BSV community -- that's his audience. Every one of these public maneuvers is intended to trick them into buying more BSV. There is no other explanation that makes sense.

Anyone possessing just a handful of brain cells can see there is no legal case to be made on this issue.
12  Bitcoin / Press / Re: [2019-02-04] Ex Bitcoin Foundation chair claims billions ahead of Mt.Gox victims on: January 22, 2021, 10:07:11 PM
@squatter. What do you speculate on the outcome of this? Will there be a dump of 150,000 coins? I have seen arguments that there might not be a dump and the agreement has not yet really been signed and agreed. Is this clickbait and FUD?

Indeed, nothing is official at this point. A preliminary agreement has been reached among some of the largest stakeholders, that's all.

Whether and how many creditors agree to the early repayment scheme, and then how many of those creditors turn around and sell their bitcoins -- we have no idea. I'm no fortune teller.

Even if repayment happens relatively soon, we should probably assume a significant portion of creditors are long term Bitcoin believers who don't intend to sell.
13  Bitcoin / Bitcoin Discussion / Re: Biden treasury secretary nominee Yellen says "curtail bitcoin" on: January 20, 2021, 11:25:24 PM
She also said the Fed cannot regulate Bitcoin in 2014.

The Fed can't because they only regulate the banking system. Bitcoin obviously operates outside of it.

The Treasury Department -- which Yellen is about to oversee -- has more relevance. They can bring Bitcoin within the purview of existing MSB regulation. They can mandate strict reporting requirements for Bitcoin businesses so that spending or selling your bitcoins comes with onerous AML/KYC. They can work closely with the IRS to leverage new AML/KYC requirements into a tax enforcement and compliance program.
14  Economy / Exchanges / Re: Is Binance really that bad? on: January 20, 2021, 11:10:37 PM
All the same, apply the same precautions (don't leave any funds on them, don't deposit unless you're prepared to verify).

Or take an alternative approach: Don't deposit funds that you aren't prepared to lose in the case of KYC enforcement. I'm too concerned about my privacy to ever verify at exchanges. Whenever I use an (unverified) exchange account, I view it as a calculated risk.
15  Bitcoin / Wallet software / Re: Blockstream Aqua: Selling Liquid Bitcoin(L-BTC) on: January 20, 2021, 10:53:19 PM
One reason to buy L-BTC instead: You can transfer it faster and more cheaply, assuming you're sending to compatible services. If someone is just buying coins to send to an exchange, then BTC might be slow and costly by comparison.

Considering that compatible services are nearly non-existent it looks like a trap. Perhaps if it was easily convertible both ways inside the app itself it would be ok I guess. Is it?

IIRC peg-out was possible only via exchanges, mostly centralized/KYC ones. If the app helps to overcome this - great, but I kinda doubt it.

BTW that disclaimer seems inadequate for what is essentially a custodial service.

Fair points, but it's worth pointing out that Liquid's security guarantees are significantly stronger than a traditional custodial service.

One of the problems I see is that Liquid is not really bootstrapped yet. The final goal is an actual peer-to-peer network built on top of Bitcoin that people use, P2P. Today, there is a lack of network liquidity -- there is little you can do with L-BTC -- so there is a focus on the need to peg out. In the future as network effect grows -- reinforcing the ability to convert to other currencies via P2P markets or secondary services who interface with federation signers -- this will in theory become less and less important.
16  Bitcoin / Press / Re: [2019-02-04] Ex Bitcoin Foundation chair claims billions ahead of Mt.Gox victims on: January 20, 2021, 04:39:31 AM
Is there anyone left in the forum who closely knows with this case? Does this imply that there is this possbility that a large portion of those lost bitcoin will be sold to the market before the case settles?

My recollection is that CoinLab is the single biggest obstacle to the civil rehabilitation process. They filed a $16 billion claim on the trust's assets, which was obviously disputed by other stakeholders. They've now finally reached an agreement with the trustee to set aside 10% of the remaining bitcoins to settle the ongoing lawsuits, which opens the door for the other 90% to be released to creditors.

In that sense, yes, this is very big breakthrough for creditors, and it's likely they'll get paid before the CoinLab suit is settled.

Creditors still need to approve the plan, and even once they have, I wouldn't be surprised if there are more logistical delays given the scale and legal red tape involved.

Does any one know how many coins remain with Nobuaki Kobayashi?

According to this article from last month, approximately 150,000, although I don't think the exact amount is publicly known.
17  Bitcoin / Bitcoin Discussion / Re: Michael Saylor CEO of Microstrategy wants Elon Musk to talk about bitcoin on: January 20, 2021, 04:06:28 AM
Michael Saylor has his eyes on all that cash Tesla is sitting on. Their $14.5 billion cash position makes MicroStrategy's investment look like child's play. Tongue

I wonder how that interview would play out. Elon's comments on Bitcoin and cryptocurrency are often flippant, even snarky -- I'm not sure what he really thinks.
18  Bitcoin / Wallet software / Re: Blockstream Aqua: Selling Liquid Bitcoin(L-BTC) on: January 20, 2021, 03:22:08 AM
Do they adequately explain what L-BTC is and how to get the "real" BTC out of it?

This is what users see in the Aqua app when they navigate to the L-BTC wallet:



I suppose that at least conveys that L-BTC is not the same as real bitcoin.

I'm not sure what's the point of selling L-BTC directly other than to mislead users into buying something they don't need. They could sell BTC and allow to "peg in" if someone wants to.

One reason to buy L-BTC instead: You can transfer it faster and more cheaply, assuming you're sending to compatible services. If someone is just buying coins to send to an exchange, then BTC might be slow and costly by comparison.

But yes, I think they are obviously intent on driving Liquid adoption with this UI.



Side by side, two different assets with two different ticker symbols -- it doesn't occur to me as deceptive. It's nothing like what Bitcoin.com was doing.
19  Economy / Service Discussion / Re: BitPay -- KYC is here! on: January 20, 2021, 02:42:05 AM
Has anyone come across reports of this happening in the US -- or for that matter, anywhere outside of Europe or European IP ranges? I've seen a couple more posts like this. All signs that I've seen so far still point to an EU-specific policy.

I would test it myself, except I really don't want to sell any bitcoins right now. Smiley
20  Economy / Exchanges / Re: No Identification to verify my account please help. on: January 20, 2021, 01:05:47 AM
Hi all. I was wondering if anyone could help me please. What is the best wallet/platform/converter etc to use that won't require any id to withdraw my money back to my bank account please as I don't have any. I am in australia

I have an Australian friend who tells me that your centralized options are basically zilch.

He recommended AgoraDesk, which does not mandate KYC -- although they do reserve the right to demand it at their discretion. There is also LocalCryptos, but they are based in Australia and will require you to declare your Australian residency for tax purposes.

https://kycnot.me/ is a good resource to check for other services you could use.

If you go the P2P route, I strongly recommend using escrow and paying attention to user feedback.
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