I see you have a valid point yet I was wondering where did the Malaysian Government got this idea?
Is there a precedent about this policy which was previously implemented before by other Governments and proved to have been effective?
Or is this is just a test bed and experiment for the Malaysian policy makers which I assume they don't know yet what will be the consequences of it if ever it will be finally implemented?
According to the experience that has occurred, especially in Indonesia close to Malaysia, smuggling USD 100,000 is very easy. The mode is as follows: The Cross Border Cash Carrying (CBCC) rule requires everyone to report if they carry money equivalent to Rp 100 million if they cross a border area. Through one of the ports close to Singapore, money launderers can go back and forth five times a day from Singapore to Indonesia, they usually come in groups of 8-15 people. Even so often the customs and immigration officers know them. They did not come for a vacation but to exchange money at a money changer. Singapore utilizes the conditions of the surrounding countries which are rife with criminal acts of corruption to increase the country's foreign exchange. Singapore has large denominations of currencies (SGD 1000 = USD 735) and (SGD 10,000 = USD 7350). Due to complaints and requests from neighboring countries to stop the use of the SGD 1000 & SGD 10,000 fractions, Singapore stopped printing the SGD 10,000 fractions but refused to withdraw the fractions from circulation. In Indonesia alone, the Singapore dollar is a prima donna for corruptors, every time there is a catch operation, a Singapore dollar is always found. The discovery and concern over this problem arose after corruption by one of the tax officers (lower level) in Indonesia worth USD 21 million. He was sentenced to 29 years in prison for 3 legal cases. If that is the case, then lets see if it will be effective enough in curbing financial crimes so that it will become a model for nations that are also facing the same problem. Now, I wish Governments at the same time could also strengthen financial crimes enforcement thru their concerned agencies because I think such policy would go in vain if there is no cooperation among different enforcement agencies including cooperation among neighboring countries which is vital in combating financial crimes. Imho. |
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I noticed that the withdrawal fee for Bitcoin at my exchange was about $6 (0.0005 BTC)
Then I looked at the fees for Stellar (0.02 XLM) and Ripple (0.02 XRP) which equated to only a few cents.
My question is why wouldn't you change your bitcoin into one of these others, then withdraw, paying only pennies instead of $6.
What am I missing?
That decision is a case to case basis and it depends on what are your intentions, whether to convert it to fiat or just to transfer it to other wallet. Honestly, you can decide upon it asap if you'd make simple calculations of assumed withdrawal and conversion fees and chose which steps could help you save some money or BTC.  |
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Instead of just criticizing Malaysia's policy, let's discuss what are the goals and interests behind the cash transaction value restriction policy.
With this policy indirectly encouraging people to switch from cash-based payment systems to non-cash, there are at least three fundamental reasons why the Malaysian government and other countries limit the number of cash transactions.
- Non-cash transaction activities can save costs and foreign exchange savings compared to cash transactions. What costs are saved? There are money printing costs, money distribution fees, and cash handling fees. In addition, reducing the opportunity for perpetrators to produce fake money.
- With non-cash transactions, greater liquidity, because non-cash transactions cause more money to be deposited in the bank than at home, then money circulation will be far greater. Such conditions can contribute to reducing interest rates, which may encourage economic development.
- Indirectly as a tax monitoring tool, with non-cash transactions, the possibility of tax avoidance will also be smaller. Why? Non-cash transactions make more money deposited in banks than elsewhere. Thus, tax avoidance is increasingly difficult. Thus, the number of taxpayers will increase. If the number of taxpayers is increasing, the tax rate is likely to decrease so it is not too burdensome to the community.
- The uses of non-cash transactions can be more efficient in terms of time, the faster velocity of money. The more efficient the economy, the faster its growth.
The advantage of non-cash transactions is that they produce financial records that are more accurate, precise, and well-documented. This facilitates and accelerates the tracking of each transaction if needed. In addition, it helps budgeting activities. Because every transaction is well documented, so it's easy and fast to track. This will facilitate the preparation of financial budgets. Cash transactions complicate efforts to trace the origin of money originating from criminal offenses. With large amounts of non-cash transactions, it can be tracked by the authorized official. This will minimize embezzlement or other corrupt practices that can harm the country's finances.
Are the people of Malaysia ready for a cashless society?
Cashless society can be realized with the attention of the government in the preparation of adequate and equitable digital infrastructure, digital literacy and financial literacy.
I see you have a valid point yet I was wondering where did the Malaysian Government got this idea? Is there a precedent about this policy which was previously implemented before by other Governments and proved to have been effective? Or is this is just a test bed and experiment for the Malaysian policy makers which I assume they don't know yet what will be the consequences of it if ever it will be finally implemented? |
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Hmmm. If that is true, then I think its a cheap excuse as they should have anticipated it even before the program had started. Actually I'm excited to join their staking program just like most MZG holder but there is nothing we can do but to wait. However, I would assume that they would also extend their registration to their staking program to accommodate others especially the bounty participants who are willing to join it. Now I think we should wait a little bit longer, maybe tokens will be sent within a day or two. Hopefully! |
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- Seriously? The article is a summary! It's a 4 minute read!
Seriously. Many won't open a link, especially posted by a newbie. This is a forum. A place people are discussing. What if instead of answering, people would post a link to their own websites? So the advice to put a couple words here was a valid one. And instead of countering such advises, be happy it was not reported and deleted for just posting a link. So again, add more words there. Quote a little. It's for your interest. I believe OP has a previously opened thread - wrote a paper about the convergence of bitcoin toward the stock-to-flow model about the subject matter and he/she maybe excited about his/her findings to present it to the community! @OP, I hope you would welcome constructive criticisms from other members of the community in the hope that they may find your study interesting. So I guess you need to provide maybe just a little backgrounder about your study to present your idea clearly. |
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I think that commemorative token is all part of a publicity stunt for John McAfee's interests or for his personal gains including the promotion of his own DEX but I don't think releasing a token to commemorate an allegedly sex offender could compliment his stature. Moreover, I think it doesn't make sense at all since no one would have a demand for that token for fear of being stereotyped or worst, possibly being accused of being a sex offender! Now if he wants to ride posthumously with any celebrity's popularity including the late Jeffrey Eipstein, possibly for personal gain, then I think it would be better if he would have considered creating a token for well known departed artists who have had an influence over the masses at any point in their lives which I think deserves proper commemoration. Imho. |
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I don't know if it's just spiel or a false promise if they were going to register this token on Binance dex. other than that I feel disappointed with the price of CURIO while the tokens obtained by prize participants are very few. I don't know where else is a good place to trade CURIO because probit is not a good place exchange.
Don't get disappointed with the CUR price, crypto markets right now as in a slump that even those earlier projects that already have solid platforms have also suffered their token price went down up to 90 percent! I think that for as long as the the team continues to develop this project with dedication and perseverance, then there is nothing to worry about because if we really believe on the merits of the project, then we might at least support it as much as we could. |
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I have already made a withdrawal and are still in pending status, I think they are making payments manually, I think this is far from the 14th, they will need a lot of time to process all withdrawals, so let's wait for that
Is that so? Yesterday I had tried to withdraw my MZG but it isn't available yet, maybe they will be doing it manually as what you've hinted. To think about it, I'm a little worried that I might not be given the chance to join the staking program which has clearly stated that its registration will end by the 13th of November which I suppose withdrawals will be delayed by then f it is done manually. I hope the team could give some consideration for those who will be delayed in withdrawing their tokens but are interested in joing the staking program. Imho. |
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This policy won’t work for long and people will openly revolt against such bizarre policies, I feel the Malaysian government should instead incentivise people to use digital money instead of curbing fiat money. I don’t think we will see a major surge in bitcoin usage because many people don’t understand how to use it, and others will prefer to pay via online banking only.
This is an absurd idea that will ultimately prove unpopular with Malaysians as I assume there will be repercussions if they implement it since I understand this will be first in ASEAN. Now I think this is not an effective solution to combat illicit activities because these offenders will always find a way to circumvent this process! I guess the best way to combat these illegal activities is to strengthen crime detection and law enforcement and impose much harsher penalties and laws that will discourage would be offenders. |
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Personally I don't believe on the truthfulness of such study and I might agree that Tether has got nothing to do on the alleged manipulation during the 2017 bull run but I will not agree with their statement below: All Tether tokens are fully backed by reserves and are issued pursuant to market demand,
which of course is a lie! (as what @pooya87 had stated) since asserting that Tether was "fully" backed by U.S. dollar in 1:1 ratio and yet they did not provide any credible proofs or haven't opened their books to independent third party auditors to assess the veracity of its claims. Moreover, most of the community feels that Tether issuances are somewhat discreet and there has been allegations of Tether being "minted out of thin air." |
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Oh really, did they announce about the staking model, did they release complete details about where to stack the coins because now the coin price is very low in the market. Instead of selling for low prices it is good to stake the coins, I think we should always aim for long term goals.
Just found it on their Telegram - https://medium.com/@moozicore/270-million-mzg-staking-program-c79cf376714d but i wonder if many bounty participants could join it since bounty tokens are currently not yet withdrawable in Levelo dashboards right now and token unlocking will be on the 14th of November, 2019 which is conflicting to the terms of the staking program as quoted below 2. November 13th, 2019 - end date of registration of ETH wallets to MZG Staking Program. |
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Where we can see that option because every day I keep allocating the funds on a daily basis, if it is auto means definitely it will help us in the long term to make some decent profit through our staking. This option is quite impressive because it will automatically allocate the coins to specified validators.
You can see it in your dashboard at https://console.minter.network. After you've logged in, click the Delegation link and you will see similar image below and follow instructions accordingly.  |
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Thanks for the warning. What activities did the form want you to do? I am trying to figure out what they got from this? Unless they tried to get you to install some fake browser?
The form is just like a traditional airdrop form to make it more convincing that it is indeed an airdrop program which requires would be participants to input their bitcointalk username and twitter handle and could have been made as a means to verify corresponding email addresses! The first two input requirements can be used to harvest data and could be used also as attack vectors for future phishing attempts other than the email address. But I guess the main importance of the form is that it contains an easy step by step instructions necessary for the phishing attempt to become successful since there is a very high that you will likely download the malicious executable once you've started filling it up and fulfilling very easy tasks tends to attract would be victims to try it. |
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but I'm worried about the price of mzg this will continue to decline, considering the large of supply mzg in circulation today.\  Well I guess its price will definitely be dictated if they implement their staking plan regardless of its supply because stakeholders will definitely not sell their MZG at lower rates and would rather opt to send it to a staking program with a guaranteed interest. Btw, any idea what is the total token in circulation right now? the concern is that MZG is only available on coinbene yet on other trading sites, hopefully it will get even more MZGs listed on other trading sites, given the possibility of bounty hunters dumping it at cheap prices
From what I've gathered in their telegram channel and if I'm not mistaken, tokens coming from bounty cannot be traded yet on Coinbene, they say it can be traded by the 14th of November. I guess we need further verification about this matter from the team. |
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But we're missing out the best part here: if you go to the company profile, we get to see the men at work (not kidding, these photos really belong to the company profile):  I didn't know Ledger Nano S undergoes dyeing first before being made into a final product.  Am I the only one curious and thinking about buying one to unbox and see what is that?  Edit: Nevermind, looks like there is a minimum order buy of 50 units. Definitely won't be doing that. Actually I'm thinking you're not the only one thinking about buying it, I think these are the possible customers that would likely buy it: 1. gadget shops worldwide (that could resold it for a price at par with the authentic Ledger Nano S) 2. naive customers (who would trade better security for better price) I think the reason why this kinds of supposedly counterfeit products exist is that there is always a steady demand for them and Governments are doing less action to combat or discourage it or being lenient about it - especially with China, which is well known to produce any kind of counterfeit products! |
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~snip~
OMG! This products must have been imitations only! If this is true, then maybe Alibaba did some kind of promotional campaign with it but if not, I bet it has a malicious payload embedded on its firmware! Now I was wondering why Alibaba, being a large and a well respected company, would allow this kinds of products to be listed on their site - assuming those were fake LNS because its clearly a violation of IPR! I hope sooner or later somebody or someone from the Ledger can verify the authenticity of these products and do appropriate actions accordingly. Paging Jack Ma.... |
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Yes, even you can stake the rest of the amount you make can be a stake in the same validator, even I am doing the same thing because it will definitely help increase your holding as long as possible.
Thanks for reminding me of this! I will definitely stake again my rewards when I reach my target figure, and hopefully could do it by next week. ~snip~
For best chance of contacting the core team and lay down your proposal, I think it would be good if you could visit their social media channels https://www.minter.network/#social and contact any admin present there. |
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I will stake all the tokens for a few months when the bounty can be withdrawn it is most likely that the price of MZG will dump because some bounty hunters will definitely sell MZG token
Has the staking plan of MZG been operational already? And btw, what exchanges does MZG is listed currently? I hope they would provide a community manager here to answer any questions from the community specially now that its development are getting more intense. I know the community are very eager to hear any news coming from the project and keeping them updated as much possible would will be greatly appreciated. Imho. |
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Hello all,
I live in Iran and as you may know , Iran is going to Use bitcoin at major scale because of national sanctions.
Also I have a large land in Iran, it's around 7,000 km2 , in around 200 km2 of this land have an Iron Mine and recently I get certification and goverment authority to build a cryptocurrency farm, but I don't have any knowledge about it. So what should I do ? Can i find any investor or partner to do it?
Don't get me wrong but I am intrigue why would you venture into a crypto mining business without adequate knowledge? Furthermore, I find it quite ironic since you've stated that your very large land has iron mine yet you want to enter into crypto mining which I assume you dont have resources and know-how to do it? Why is that? I guess its much better if you focus on mining iron in your land which is way much profitable than mining crypto within it! At the very least you'll have a very high chance of getting a partner(s) to invest in it. |
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Another email I received today with same strategy using another name airdrop portal, ask to fill spreadsheet very same with @OP stories. Here is the proof from email I received.   @hd49728 kindly include again this phishing link which is identical to the previous phishing attempts but now uses another phishing site though it is still using the same style and methodology. |
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