If someone were to sell bitcoins on localbitcoins.com in exchange for paypal my cash cards, which were then deposited into paypal. Is that legal as long as any taxable gains received in the transaction are paid? If the amount is under $500 per day and $4000 per month would there be any requirement to know the customer or comply with anti-money laundering laws?
It depends what country you are in and how good your lawyer is. In the United States, technically, that fits the description of operating as a money transmitter. There is no minimum volume for these operations. There are local and federal laws regarding it. However, many times when charges have been pressed, the defendants have won their cases. They don't always get the money that was seized though, and they spend a lot more defending themselves. |
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This thread is created to aware the newbies and users who still believe that ponzis are fair...
SO GUYS MY REQUEST IS TO PLEASE POST THE BIGGEST SCAMS IN BITCOIN WORLD ACCORDING TO YOU..
HELP NEWBIES AND AWARE THEM..
THANK YOU
Cloud mining. P2P lenders who increase their amount of debt rapidly and stack loans across different sites or even on the same sites. HYIPs. Unregulated, offshore bitcoin companies that offer to hold your coins and let you invest in crypto-securities and leveraged trading. They can walk away with your money at any time. Don't put in what you can't afford to lose. |
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Now someone told me to do cloud mining. I cant confirm if that was a shill or no. Now I am wondering if I should really buy
the miners or just cloud mine? Help me out so I can make a true decision and save more money on best possible choice.
UPDATE
-NM!-NM!
I had good luck with EObot. I dont know if there is anything else I can think of.
I would buy physical miners. If you buy used miners, you can mine for a few months, make some coins, then sell the miners for basically what you paid. Then do the same thing again. Just make sure you are keeping up with the technology and if the price gets close to falling below profitability the miner's value will fall. This is a much better way to make a higher ROI for obvious reasons. Also make sure you are getting the best deals. |
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What is your vision of this killer app?
Purse.io but for anything you want. I want to order a pizza at 5% off with bitcoins. This gives is essentially LBC trading instantly and secure too with a middle man escrow service. Also, if someone created Amazon for bitcoin it could work. They would save a lot of money on payment processing fees but would have to provide incentives for people to sign up. |
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Did anyone ask how much money she makes? Tiffany, seems like there is a lot of competition in your space. How much traction does Xotika have? |
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The indictment says: involved the transport and transmission of funds that were known to the defendant to have been derived from a criminal offense and were intended to be used to promote and support unlawful activity I wonder what that's about. I doubt that he was knowingly helping the Silk Road or anything like that... The thing is... Why do people pay a premium for bitcoin when they can just buy it from an exchange by linking their bank? There are a lot of people that intentionally want to remain anonymous because they are laundering money or made the money illegally. I have asked some borrowers before why they can afford such high interest rates and they have told me the about their customers. |
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The bear market has lasted long enough. I predict 2016 is the year where bitcoin finally breaks through, both in price and in mainstream adoption.
The fork issue is a distraction. It won't kill bitcoin. The majority will eventually choose what fork they want to use, whether it is the original, or XT, or some third option.
I see the fork issue as silly infighting which only hurts bitcoin. I want bitcoin to succeed, that's what I care about, not what version of BTC I use. I will go with the majority, whichever fork is chosen.
I think you could be right. The reason is that I think major central bank currencies could go through a major crisis over the next 2 years and people will look to preserve their wealth in other ways. They will want gold, silver, things like this, but also some will gravitate toward bitcoin. More adoption means more supply. |
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Hi everyone.
I used to use the leveraged trading on bitcoin exchanges. For this purpose I use the cryptomargin.com. It's completely fine with me, because of low commissions and prompt technical support. But I`am interested which services do you use and why?
As a US citizen I am very cautious now about using any company offered leveraged trading. The reason is because of the new rules governing these companies issues by American regulators. I used to use OKcoin, but they no longer accept US customers. I think Bitfinex is still relatively safe, and they say they are not affected by the new rules, but time will tell. There are many options, but they don't come across as very trustworthy to me. When itBit and Coinbase start offering leverage under US regulatory authority, that would be attractive to me. |
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Hey guys i want to know if anyone ever done arbitrage with bitcoins and is it possible now? Arbitrage opportunity are very hard to find but it's always better then simple trading so please give me some tips how can i look for arbitrage sites and opportunities?  Yes, there are many forms of arbitrage with bitcoins. One way is to keep charts open on multiple exchanges, and currency pairs. Try to identify which exchanges are the "leading indicators." You will find that some exchanges will make big moves and the others will follow. The Chinese trade more bitcoins than any other country. US is second. Keep that in mind as well. Also, some exchanges offer no fees on limit orders, so you can watch the buy and sell walls and just play the spread. However, this is a dangerous strategy because if the market moves fast, you can lose a lot. |
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i've always been hesitant to buy Amazon gift cards at a discount, because i don't know what happens if you spend the money and the gift cards come up fraudulent after the fact. anyone know? i'm tempted by the discounts. I don't know. This is a fear of mine as well. Even purse.io it seems could not figure that problem out. A week ago they announced they would no longer allow people to buy Amazon gift cards for people at a discount. Those were one of the best items because they sell at face value. They must have had a lot of scams too. |
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When is it useful to borrow bitcoin? Considering that it is really hard to get a loan here on this forum even with escrow, and the plentiful amount of scammers floating around here, is there really a great reason to even bother getting a loan here? I mean unless you're flat broke I could understand but even still it's an uphill battle. It's way easier to take out a cash advance in an emergency. I suppose if you're dealing with a trusted borrower and trustworthy escrow you may have a chance in obtaining your funds. Other than that, it can be difficult for a scam-less transaction to take place.
There are P2P lending sites. It useful if the interest rate is low enough to make money and if you need to hedge exchange rate risk or can use fiat exchange rates to decrease real interest. If you have good reputation and a trusted circle of lending partners, it makes sense at times. |
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Hi all together, I am an expat living in Brazil for around a year now. I've been following what is happening to the value of the brazilian Real closely. A few days ago the former historic low of 3.96 BRL for one USD was reached and on September 24th it went to as far as 4.24 BRL/USD. The brazilian economy goes through a crisis because of (non-exhaustive list): - low oil price - economic struggle of an important trade partner: China - corruption scandal in the contry's biggest oil company PetroBras - (...) I am skimming the internet every day for news on the economic situation and am also talking to locals. So far the people around me do not seem concerned (prices four domestic produce still stays stable). Big mourning, of course, for those who want to go abroad now. I only have information about the Rio de Janeiro area. If you live somewhere else in the country I am interested to hear what people think there. Trading volumes for BTC on brazilian exchanges is veeeery low compared to Bitstamp/Bitfinex and the like. As such a little move of BTC's value together with a change of the Real's price causes the BTC/BRL pair to jump crazily. To say it with one word: v OL aT ILe  Out there in the world some people are saying Brazil is becoming the new Greece except that there is no EU to help and population is 20x bigger (11M vs 200M). So what is this thread about? If you have substantial information to add (economic situation, advice on how to deal with the crisis, ...), feel free to comment. I am not asking for investment advice. I don't want to read conspiracy theories. Let's have a intelligent conversation about what is going in this country and how that fits together with Bitcoin. Do you think the Brazil's currency will continue to decline against the dollar? If so, it makes sense to hold USD, or Bitcoin which can be seen as an equivalent in some countries where currency controls are implemented because central banks have completely lost control of inflation and want to enforce the use of their own currency rather than have their citizens use foreign currencies. This is the common use case for bitcoin in an inflationary scenario like you are describing - asset preservation. It is used in countries like Venezuela. |
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What is Burt's Family? I don't understand the BTC tie-in. Thanks. Please see http://www.burtw.com/ for the story. The U,S. Government dismissed the sole charge of operating an unlicensed money transmitting business in connection with Burt's trading of Bitcoins for investment purposes. Proving that the U.S. Government polices for profit, the U.S. Government also kept our cash and Bitcoins totaling over $80,000 to put in their unconstitutional Federal Asset Forfeiture Fund. They stole from us to pay themselves, bypassing Congressional allocations and violating their own asset forfeiture policies. Interesting. I have read of similar cases. It sounds like the money transmitters like MoneyGram, WesternUnion, etc. have a powerful lobby on the local and federal level. Should be an interesting event. Thanks. |
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Let's see the LakeBTC's graceful charts, during this period when drop $2 per rise $1  How do you keep the profit? If cant, how do you stop loss? please share your strategy with me, thanks!  I watch different exchanges and watch which ones seem to move first. I take indications from those and trade on the lagging ones. I also use BTC denominated loans to control my exchange rate risk and sometimes borrow money for free on a fiat basis. |
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I am so confused.
What is better? Which one do you guys recommend more?
Thank you for your time
Bitcoin definitely is the cryptocurrency with more adoption, trading volume, and service providers. Litecoin is more volatile and possibly better for some forms of trading such as futures arbitrage. On the whole, if you are new to the cryptocurrency ecosystem, I would first explore Bitcoin. |
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What types of damage could the machine takes if they are placed outside in the scandinavian winter. whit roof . no walls ? any overclock pocibilities? Let's say s5 machines sp20s ? this is the idea. The Blow will be outside and the intake will be pulled from downside. PLacing the Miners on the balconi the intake should not bring any moisture from the downside. Weather is pretty dry were i live. The little box will be weather prooff so no water or snow will be getting inside.  I don't know if this is a good idea but I am facing a long cold winter and plan to use my miners as heaters. I live in a small apartment and can get away with spending a lot less on heat while my miners run. I don't know why someone hasn't designed space heaters that are bitcoin miners. What would the cost/benefit be? |
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and do you think that will happen in 2015 ?
I don't think this is likely to happen in 2015. Unless this was an overnight event, I would not hold the bag all the way from 235 to 50. If it happened while I was asleep, I'd have to understand why and determine how to proceed. |
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I'm wondering if everyone else in the world can buy anything they want with Bitcoin, so that's why I'm asking you guys if there any Store that accepting Bitcoin located near your home?
I have never walked into a retail store and seen a sign that says "accepts bitcoin." I would love it. I use Purse.io frequently and wish I could get discounts on more things with my BTC. |
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What is Burt's Family? I don't understand the BTC tie-in. Thanks. |
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