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I don't think it's very likely that it's actually a stolen card.
Chances are that Amazon has somehow linked your GC to Bitpay, and that is the precise issue.
As BitMaxz has pointed out, Amazon forbids unauthorised reselling. This is why trading GCs in general, regardless of platform and regardless of whether or not a gift card is carded is inherently risky. If I was taking on this big of a risk, I definitely wouldn't get my GCs from Bitpay at near spot price. I would demand at least a 20-30% premium on my coins.
But anyhow, Bitpay should be liable to refund you or replace the GC at the very least. Keep us in the loop.
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I do think that Stake is somewhat at fault here for revoking a clearly permanent ban. And I do think that they should at least take some responsibility for that.
However, from a more pragmatic standpoint, as actmyname said it is very unlikely that you're going to see your BTCs back any time soon.
Perhaps you should negotiate for a partial settlement, but that is likely the best-case outcome here. And by partial I don't mean half of the lost amount, probably way less.
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It's something that other countries' central banks need to be aware of as well.
This is what institutional investment brings to the table. Other holdings companies, governments, and central banks may find themselves directly tied with vested interest in BTC through their equities (or even certain levels of exposure through bonds).
This makes it much harder for regulators to restrict access. If they do, then they are essentially shooting *themselves* in the foot because of the proxy investments they made through Microstrat, TSLA, etc. Of course, 250 BTC is a tiny drop in the ocean for a portfolio as large as the central bank's holdings as of current, but with more companies owning BTC as a cash equivalent and with a soaring BTC bull market, the significance of these proprietary holdings will only increase over time.
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Not your keys - not your coins, that's 100% true but for some people, I would say: Even your keys - not your coins.
Okay, woud love to hear opinion about this from the community members.
As we know and from every logic, we shouldn't trust web wallets and also exchanges. There were a lot of accidents when exchanges were hacked and people lost their coins. Some may say - don't keep your coins at exchanges for a long time but I would say that everything happens in seconds, maybe you had access on your coins at exchanges while you were replying to this thread but once you submitted the post, exchange got hacked and coins were lost, everything happens in seconds, otherwise loss wouldn't occur.
So, how do you trade in these cases? Only p2p exchanges? But it's not flexible and you may miss a good time frames where you could profit 1-2% of your balance.
You have to accept a certain extent of risk as a fact of life. There is no absolutely risk-free or trustless way of trading, unless you are using a completely decentralised finance platform (i.e., a DEX). Even with P2P/OTC trading platforms, the period of time when you have your coins deposited on the platform carries risks. LBC could freeze your account, go bust, who knows. But what you can do is control the stuff that is in your control, namely minimising the amount of time that your coins stays on exchanges. There is absolutely nothing wrong with using a centralised exchange as long as you *manage* these risks properly. |
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Another dumb move from a central bank.
The ban will be completely non-enforceable and will simply create more alternative trading platforms other than regulated ones.
This is precisely what happened with the RBI's ban on cryptos. All they did was wipe out a significant portion of the regulated crypto industry, whilst driving people to P2P platforms such as LBC. This will be no different.
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I like the fact that you're transparent with your RTP and it is completely uniform throughout your site.
However, have you taken into consideration the fact that most of your competitors offer proprietary slots games at 1% or less (Cryptogames, Bitvest, etc.). Even third party slots like pragmatic offer >98% RTP usually.
If you're serious about marketing/gaining a large player base, then perhaps offer lower house edges on at least some certain games - it will make you that much more competitive.
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So, I have small amount of cryptocurrency I bought and mined over the years and will HODL, but I am seeing news articles and advertisements about earning interest on my coins. And the returns are not bad--5 to 7% per year.
It seems BlockFi is the front runner. They seem to have partnerships with the major US crypto exchanges, e.g. Gemini and Coinbase (I am in the USA). I am also googling and trying to educate myself.
But, I have serious concerns about learning my crypto to 3rd parties. What happens if the institution that I loan to, for example BlockFi, goes brankrupt? I assume I will lose my crypto. Would it be safer to loan to an exchange and I don't run that risk?
What are your experiences so far with loaning your crypto?
What place do you loan to, or recommend loaning your crypto to?
You could look at BlockFi, Celsius, or even some of the products that Binance offers. But none of them are going to be truly risk free assets. But that's the tradeoff that you're signing up to - you are essentially taking on a risk that whatever ventures that your funds are used to undertake and/or the platform itself will fail, in which case you may only partially recoup your principal amount. If you are truly concerned about third party risk, lend out your coins against collateral on bitcointalk or other true p2p sites. Then you hold the collateral yourself (if your rep is good enough, ofc). |
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What significance does this even have to the decentralised crypto world, or DeFi in general?
It's just going to be the same as any virtual gift card that Amazon issues, except now they are using blockchain technology to do it. It's purely for internal settlement/transfer purposes and not as a medium of exchange anywhere else.
It's not going to be groundbreaking, yet people in both the crypto space and the fiat equities sphere will both overreact to it like there's no tomorrow. Just goes to show how irrational markets truly are.
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Actually, transaction fees aren't that bad if you were just willing to wait for a bit and use native Segwit wallets.
The bulk of the fees incurred come from the casino's end. For that, just go with a casino that doesn't charge exorbitant tx fees (and pays market fees based on fluctuations in the mempool).
So I'm definitely still playing in BTC. I don't think that you should switch to ETH/LTC solely because of fees, because the conversion fees for your funds could already outweigh any fee savings you get nominally. You should only imo use them if a) You have an existing holding of these alts and b) You need faster confirmation times (although a few casinos already offer 0 confirmation deposits anyhow).
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The interesting news here isn't that they're committing an offence - it's the fact that sportsbooks don't have risk mitigation strategies in place to prevent these things?
It's 2021, goddammit. Surely they can price in a margin of error in their odds or alternative sources for scores that report back in real-time for live bets.
I remember this happening a good two decades ago. To have this happen now is simply inexcusable.
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Keyword: could.
This is probably not going to happen because of the powerful lobbies that these leagues have, as well as the gambling industry. I honestly don't see a scenario where gambling sponsorship gets outlawed simply because there is too much revenue, both corporate and tax, at stake.
Nor does such a ban even make sense. Problem gambling doesn't develop from advertisements alone.
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I don't think that this should necessarily be taken as a bad piece of news.
What is as important as the actual investment is the fact that there is no mainstream accreditation for BTC as a store of value and as a cash alternative. The fact that it is placed against the same category as gold and silver which have been known as as physical stores of value for centuries is what is so significant.
Who cares if the investment into BTC is actually $1b, $500m, or the full $1.5b. It's the legitimisation of BTC as a store of value that should be valued the most out of this event.
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Perhaps. But this should not deter retail investment.
Sure, institutional investors may be driven away from the increased compliance costs and greater oversight, but retail investors have shown time and time again their willingness to evade any non-enforceable, draconian regulations.
Just think about how many times the Reserve Bank of India has tried to ban BTC, BTC trading, P2P transactions and OTC marketplaces with no avail. There is simply no way to totally restrict access to a decentralised asset like BTC, especially when grassroots support is so high.
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Hi Folks! I am a HODL'er and all of my bitcoin is on my Ledger wallet. If I move it all back onto my exchange and sell it for a profit before the next big dip, then buy low a few weeks later and then move it all back immediately to my cold wallet, do I get taxed even though I am not cashing out? Thank you all.  Yes, you would be technically disposing of your assets even though you are planning on buying back later. If you want to avoid these tax implications, you should probably use derivatives to hedge against your positions as opposed to cashing them out on an exchange explicitly for cash. For instance, when you want to cash out x amount of coin, simply short x amount of coin on margin on a platform like Bitmex/Deribit and close the short when you want to buy back. In most jurisdictions, doing this will NOT incur a CGT and will allow you to achieve the same effect as selling your coins - but you should still take it with a grain of salt and consult a tax agency. |
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You're essentially saying this: Can I possibly construct a position that would allow me to denominate my position in fiat when BTC goes down and in BTC when BTC goes up in value?
Let's rephrase that a little bit: you're essentially asking for free, risk free money.
Common sense tells us that this is impossible. You are either long BTC or short BTC, but not both simultaneously. So the short answer is no, it's not possible.
You can hedge your position, sure, but that would simply reduce your earning potential either way.
But I suggest you check out Binance's savings products - they have something *similar* but not exactly what you describe in terms of giving you the best of both worlds. Note that there is a significant counterparty risk involved since you don't hold your own privkeys though.
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Must be really tough over there in Greece with lockdowns, financial instability and IMF austerity conditions to adhere to from a fiscal perspective.
I do feel you. It's not as bad here but it's pretty much the same story.
In terms of macroeconomics, COVID lockdowns simply means that there is a lot of excess, spare capacity in the economy that is unutilised. People are willing to provide their labour, but because of restrictions, they legally cannot. That can probably be shown best by the uptick in unemployment and underemployment worldwide.
What is laughable is that markets are rallying hard from the stimulus packages, whilst Main St. is still struggling... It's sad to see, honestly.
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Moreover, RBI to launch their own crypto currency which will be centralised one. So what the heck is that? Why they don’t understand we don’t want centralisation in the first place and that’s why we are using the bitcoin. LOLZ I don't think that it is because of confused policymaking, but rather a coordinated attack on decentralised cryptos. The RBI knows exactly what they are getting themselves into. They have made a conscious effort to oust a lot of their domestic corporations whom operated in the crypto space which means that they well and truly want to restrict access to prevent capital flight and for political purposes. So no, they're not confused. It has been their plan to insidiously move the crypto industry out from the beginning. But it won't work - a ban would simply not be enforceable given the volume of OTC and P2P trade going on. |
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Does anyone get the feeling JP Morgan is inaccurate here. 100%. Proprietary trading activity for bitcoin has ballooned over the past few years from an institutional perspective. Companies are using cheap funding to access BTC cash products and derivatives left right and centre. This trend isn't going to stop now. Tesla jumping on with Musk is simply going to give reassurance to other companies on the edge, and not discourage them. With this low interest rate environment and rounds of global central bank stimulus, JPMorgan will be proven erroneous in this evaluation imho. |
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I've been in the exact same situation.
I put down some random mobile number when I signed up because I did not want to provide my actual number for privacy reasons, and one day I was just locked out of my account for no apparent reason (I didn't even use a VPN at the time).
I submitted a request to Google Support but haven't heard from them since. It's honestly a pain in the ass. Use Tutanota, Protonmail, etc. who actually respect your privacy and won't actually lock yourself out of your own account. Unless you are absolutely certain that your mobile, 2FA and recovery email etc. are all in order.
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In terms of a wealth reset, I think it is still under way.
It is encouraging to see decentralised assets gaining so much momentum over the past year, but arguably, a lot of the profits are still taken by the institutional investors.
What we saw with the WSB movement is irrational but also an early sign of a growing sentiment of anti-establishmentism in investing. This is nowhere near the end, nor the beginning of the end. It's merely the end of the beginning of this reset imo.
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