Are Bitcoin ATM's really that great for money laundering? All ATM's that I've heard of are only selling BTC for cash, so it's not clear how someone can launder dirty cash with BTC - they'll still be unable to explain to authorities how they acquired those coins. Send them to a non-KYC exchange. Make some trades, then withdraw. Now you can say that all your coins came from trading profits. Or send them to a casino and claim they are gambling winnings. I'm not sure if that's feasible given the KYC measures, but for ATMs that require only a [fake] ID or [burner] mobile phone verification, maybe it is. |
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This lack of regulation, Shum said, will allow for the incubation of organized and petty crime. Indeed, he points to the rising trend of cryptocurrency police filings in Vancouver year over year, which increased 350% from 2016 to 2017, and saw a further 250% increase in 2018. Isn't that what you'd expect if cryptocurrency is growing in adoption? The number of cryptocurrency users roughly doubled over the first three quarters of 2018. These statistics seem completely in line with that. In January, the city council suggested a bylaw to “regulate the use and operation of cryptocurrency ATMs, including the requirement for a business licence, requirement for signage to advertise common frauds, requirement for identifications to be used to verify the sender and receiver of funds and requirement of security features.” A business license and signage is probably fair enough. The other bits sound onerous. |
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Ho do you think of this site? Any complaints?
I believe they have some connection to the original admins of the BTC-e exchange. Years ago, it was discovered that BTC-e.nz (a known legitimate BTC-e mirror) and Exmo.com were registered by the same entity. After seeing the failures and legal problems of BTC-e and WEX, that's reason enough for me to stay away. |
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I don't really see the point of a gold backed stablecoin.
The main problem with a backed anything is the centralised holding of the asset backing it. Since you're going to have to make your peace with that regardless of the asset you may as well stick with the dollar. If the point of a stablecoin is stability I'd rather erase the modest amount of volatility that something gold backed would produce.
I see no reason to pointlessly lose or gain a few per cent here and there. It would be an annoyance more than anything.
It's partly about the ability to easily hedge, trade and collateralize positions. If ounces of gold and barrels of oil were tokenized, they could be traded and collateralized just as easily as cryptocurrency is today instead of traders being limited to buying and selling exchange-issued futures contracts. There may also be privacy benefits. Tokenization -- assuming the tokens are issued on a decentralized blockchain like Ethereum -- ensures the existence of secondary markets and the ability to avoid centralized exchanges and KYC. Regulations around stablecoins and cryptocurrencies (at least for now) are much more lax than those governing securities. So, if you want to trade gold and do it away from prying eyes, this might be one avenue. It obviously doesn't solve the trust issue (it's essentially paper gold) but it brings other benefits. |
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We’re pursuing the defaulted borrowers to get them to repay the BTC they owe to lenders. What exactly does that mean? Pursuing them, legally? Poloniex's system shouldn't have allowed them to leverage positions that couldn't be liquidated. We've seen socialized losses before -- that's not a surprise to me. But they make it sound like they're coming after the defaulted borrowers. It wasn't their fault. |
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As I am sure you all are aware Bit Blender is shutting down. Can anyone refer me to a similar one. That is easy to use. and provides a bitcoin
address to have the funds transfer to, then mixed, then to withdraw??? See my signature.  It works a bit different than other mixers, using a method that I believe is superior. Instead of withdrawing to an address, Chipmixer will give you private keys for bitcoins totaling the withdrawal amount. You can then sweep/spend them as you please. This is for better privacy protection: After you've received private key, you can spend them right away without waiting for our transaction. But that's not all. Since your withdrawal is not visible on blockchain, it looks like your chip was moved a few days before your deposit. Time Travel! Third, less spectacular element this method gives you is that you decide when to move those coins next. Few days? Few seconds? Who knows, you are not encumbered with our solution. https://chipmixer.com/faq |
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DEX allows you to go for direct trades with much lesser fees and full privacy as you don't need an account there to trade The current options are not fully decentralized. The larger ones (like IDEX) have implemented KYC. In many ways, using a DEX can be less private, since transactions are recorded on chain. Why we need to prefer decentralized exchange and decentralized products?
Bitcoin was created to remove trusted intermediaries from transactions. It allows peers and merchants to cut banks and payment processors out of their financial activities. Decentralized exchanges strive to bring this idea of trustlessness to the P2P exchange of cryptocurrencies. Centralized exchanges have been getting hacked since the beginning -- Mt Gox, Bitcoinica, Bitfinex, etc. A DEX allows traders to hold their own private keys, so they don't need to trust a centralized exchange to hold custody of the coins. |
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People here think the best thing to do is to chase down satoshi and expose him. It's frustrating how ignorant people are. I don't blame satoshi for leaving, because let's be honest, who wants to be in this mess of a community?
Bitcoin's communities are the most toxic of all communities in crypto. You don't find any coin with a community as toxic and hateful. This is doing actual harm to the adoption we all want to see take place sooner than later.
It started as one mission back in 2010 and now we're split up and try to combat each other instead of the government and banks. Governments and banks must be laughing hard at how things go here.
This was inevitable. People are financially invested, so they are heavily financially biased. The longer Bitcoin continues, the more stakeholders become entrenched and it becomes increasingly more difficult to change the protocol. Naturally, the groups on each side of these debates become gradually more toxic, always digging their heels in and refusing to budge. I don't really get it what's in the benefit of Satoshi if he is found? Or what is actually good for the commission if he's revealed? There's no benefit for Bitcoin nor the community. Satoshi being revealed would be a hugely centralizing factor. All the criticisms that bitcoiners apply to Ethereum regarding the centralizing influence of Vitalik Buterin and the Ethereum Foundation could be applied to Bitcoin -- if we users appeal to "Satoshi's" authority. I believe this is why Satoshi left in the first place. |
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I am looking for a legit source that I can buy Litecoins from anonymously with bitcoins, and vice verse if I desire. Flyp.me seems to be the most popular account-less conversion service, now that Shapeshift added KYC requirements. Another option may be MorphToken. I'm not too familiar with their service but they were mentioned here as an anonymous way to swap coins. If you're willing to register an account (email required), then you can use Binance as others have mentioned. |
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It's a matter of time before the same change appears on Paxful
I thought the same thing at first, but apparently this wasn't done in response to EU or US regulations. Localbitcoins said the removal of cash trades was done to comply with new Finnish regulations. They operate from Finland. Paxful appears to operate from the US, so I don't see them removing cash trades based on this. |
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It's annoying how the headlines keep saying "Bitcointopia founder" as if it was a real, legitimate company. It was a short-lived website run by a few neckbeards that scammed a few people. If the government is trying to set an example then I think they need to throw the book at him harder
There are people who would gladly swap 2 years of their life for the ability to fraud others out of millions of dollars.
He didn't defraud people out of millions of dollars. His profits from the real estate scam amounted to "over $80,000" and is being forfeited. |
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In the official statement, LocalBitcoins noted that its liabilities are determined by the Act on Detecting and Preventing Money Laundering and Terrorist Financing, which requires the exchange to follow certain sanctions. Maybe it's time to leave Finland? That's usually what one would do instead of applying draconian Finnish laws to every jurisdiction you serve. What are these guys thinking? Between this and the ramped up KYC procedures, LocalBitcoins is dead to me now. |
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Third-party organizations will purportedly pay as much as $10 million dollars for the opportunity to act as a node — to validate transactions — on the network for Facebook’s native token. That gives us some idea of what their plan is. It's going to be a privately validated network with some element of federated consensus, so it's not only Facebook validating the network. It sounds sort of like what Binance is planning with their DEX. |
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This guy just spent nearly $5 million of investor ICO funds on a lunch. Let that sink in for a moment. Justin Sun is going to make Warren Buffet even more convinced the whole thing is a total scam.
That's my initial reaction too but you never know. If nothing else, the guy knows how to market shitcoins. Maybe he'll get old Buffett to come around. |
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Wait, how is Opendime a middleman? Keys are generated client side and supposedly it's provable that they can't know your private keys. The potential attack vectors seem similar to that of hardware wallets.
you can't build opendime yourself at home, you have to go to that middleman and pay them to buy one so you would be depending on a company to use bitcoin instead of not needing anything but a computer which you already have and an open source software (desktop wallets) which you can download for free. True. I suppose the same applies to hardware wallets. When you get down to it, most people can't build their own node or read the source code either, so there is always some element of trust involved, right? |
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one of the main points of bitcoin creation was to cut the middlemen and transfer all the power that the middleman had back to the user themselves. using things like OpenDime that you suggest is going to give that power back to a middleman again which is not what we want even if it were 100% safe to use which it is not.
Wait, how is Opendime a middleman? Keys are generated client side and supposedly it's provable that they can't know your private keys. The potential attack vectors seem similar to that of hardware wallets. |
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How can exchanges and token issuers comply with Regulation S without physically locking the coins up? If these are blockchain tokens that can be withdrawn from exchanges, they will end up on secondary markets.
Bittrex launched IEOs on its international -- not US-facing -- site, presumably to block US residents from the offerings. I don't think those restrictions applied with offerings on Binance. Would that open Binance up to legal problems under US securities laws?
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Could you suggest me a wallet to contain all the altcoins, or at least the most possible please ?
There's no wallet that contains all the altcoins but Coinomi probably offers more than any other. They say they offer support for more than 125 blockchains and more than 1,500 blockchain assets in total. Keep in mind, the multi-coin wallets (including Coinomi) are not open source. It's still a better choice than storing coins on exchanges, though. |
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The biggest problem I see with Opendimes is hardware reliability. You can't back up your wallet seed or private keys. If you have a hardware failure, you lose everything. The only way to prevent that is to break the seal and sweep the coins, rendering the device useless.
other issue is there are ways to bypass the resistor thus spend without having to 'pop out' the resistor Is that true? Is this demonstrated anywhere, like a Youtube video? Or are we just talking about a theoretical attack? They say when the seal is broken, a permanent change is made inside the flash memory so it can't be re-sealed and used normally again, but I hadn't considered this potential attack vector. |
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I have heard of these electrum hacks being performed but didnt know it has accumulated to this amount in bitcoin. They weren't really "hacks." They were social engineering attacks. Attackers were setting up malicious Electrum servers and sending out in-app messages that convinced some people to download a malicious "update" that stole their coins. I havent touched my electrum wallet in over two years and have never left funds on it being scared to leave any amount of such significant on a wallet I dont have installed on my phone where I can keep an eye on it while not at home and receive a notification in a form of an alert beep when funds are being moved from my bitcoin wallet. What good is that alert going to do when a hacker empties out your wallet in one move? You should use cold storage. Offline key storage allows me to sleep at night. |
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