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1121  Economy / Economics / Re: What has really been behind china's economy on: September 04, 2023, 05:01:59 PM
I want you to think outside the box. Maybe they're able to maintain their status afloat even if it's known that the majority is suffering from the global crisis. But it's possible that even with the side motion of their economy, they're able to control what's going to come in and out with the media since their government is controlled by the CCP. So, data and numbers can be modified and they're only allowed to project what's good inside and outside the country.

For example: THE FALL OF EVERGRANDE: A CASE STUDY OF CHINA’S FINANCIAL TURMOIL IN 2022 AND THE IMPLICATION TO CHINA-BOUND INTERNATIONAL CAPITAL IN 2023 AND BEYOND

That incident surely have a big impact to their economy and probably they're tailoring it as if nothing is negatively happening to them and they're in control. But it can't also be denied that during the covid-19 pandemic height, they're able to spread their investments since majority of the stocks from that time were low. Well, go back to the first sentence of what I've said.
1122  Other / Beginners & Help / Re: Bitcoin, the only thing that stands on its lane. on: September 04, 2023, 03:20:40 PM
Bitcoin surely is incomparable from all of those examples that you've mentioned. As for Binance, I can't vividly remember if they have advertised before as a new project that they're like a decentralized project that shall disrupt the current technologies and market for exchanges. But that's like the pattern that most of the projects does. They're going to use the descriptions that typically used by most projects telling people how decentralized they are but in nature, they're not. If people are all for the decentralization, Bitcoin is the number 1 candidate of it. However, with today's movement in the market, it's no longer about the tech, about the privacy but more with profitability for which they're taking a leap of faith with the alts and projects of their choice.
1123  Economy / Trading Discussion / Re: Exchanges which allow deposit/withdrawal without KYC on: September 03, 2023, 11:13:39 PM
I think the major exchanges now mostly require KYC but some have their limits set to at least a certain amount of BTC or any coin that you are using to be exchanged if you are non-KYC. I think it would be hard to have right now some exchange that supports Non-KYC. I think it's better to use P2P instead.
Yes, the majority of the good exchanges are now requiring KYC. Binance used to be one non kyc exchange and the same goes for Kucoin. And based from the list of ratimov's no-kyc exchange encyclopedia, there's still substantial number of these no-kyc exchange but just like the first one's that have started to ask kyc to their customers. It's going to be a matter of time until many on that list will ask and enforce it. Also, I only recognize a few of the exchanges from that list that I think I'll trade. Just surprised to see that poloniex remains firm of being a no-kyc which gave me some nostalgic moments when I was still new to the market.
1124  Other / Beginners & Help / Re: Are some cryptos decentralized while some are not? on: September 03, 2023, 08:09:00 PM
Honestly, the term decentralized is being used and abused by many project developers. They tend to mention that they're a decentralized project but lies behind that, they're not. Bitcoin is decentralized and that's what the meaning of it. And don't buy onto those projects that have been labelling themselves as a decentralized project. Another thing, DeFis are no longer a thing today.

What was originally decentralized then changed to centralized because of several changes made. Related to the ecosystem is the POW consensus Network change to POS and Bitcoin stays with POW and ETH changes from POW to POS.
Right, we have witnessed the change of PoW of Ethereum into PoS but even before that, ETH was actually semi-centralized as what they've said.

However, when it comes to exchange platforms, exchanges such as Binance, Coinbase, etc. are centralized, and there will be many obstacles and risks that could occur. Not your keys not your coins.
The majority of them are centralized honestly. There were even a few of them that have claimed that they were decentralized but also changed into centralized eventually.

and projects that claim they are decentralized must certainly prove it by the consensus network they use
Yup, when you're for the decentralized projects then you have to DYOR before investing on any of them. As I've said, many are just using the term as a buzz word to attract investors.
1125  Other / Beginners & Help / Re: Are some cryptos decentralized while some are not? on: September 02, 2023, 10:39:23 AM
Hearing about Blockchain and cryptocurrency, I got to know that they offer a decentralized system of finance, where each user has control over their crypto, deciding on how and when to use their crypto.
DeFi's? I think that despite being called as decentralized finance, those users that have their wallets connected and have their cryptos deposited into a DeFi service still losses custody of their coins as they deposit and connect their wallets to those respective DeFi services. Why? Because of the series and events of DeFi hacks have made people lost their funds. Like these events: https://chainsec.io/defi-hacks/

But again, I've heard about investors losing their money in crypto due to irregularities from the project owners. And this brings me to wonder if these teams still have control over the crypto that is supposed to be decentralized? Or is it that some cryptocurrencies are decentralized while some are not?
Honestly, the term decentralized is being used and abused by many project developers. They tend to mention that they're a decentralized project but lies behind that, they're not. Bitcoin is decentralized and that's what the meaning of it. And don't buy onto those projects that have been labelling themselves as a decentralized project. Another thing, DeFis are no longer a thing today.
1126  Economy / Scam Accusations / Re: [SCAM Alert] Okbet.com frozen on: September 02, 2023, 08:20:41 AM
Filing a police report with this small amount involved will surely be ignored by police officers here. I already report them to their licensors but I don't have high hopes that this issue will be looked by them since this casino is paying big time for their license while my money involved is very small. This is how our government and local authorities works here.
I was about to suggest this after reading the OP because you've mentioned that they're regulated and acknowledged by the regulators there. But keep your hopes high if you have already submitted a report and complain to them. Yes, that amount won't be that much for them process but the complainant's report will be a good basis not to renew or at least put some hammer on that company's reputation by the government itself. It's just that sad that for this amount they're going to let things slide which won't benefit them at all but are fine to lose one client. Have you tried going into other local gambling communities and just share this story so that other potential customers of theirs will flee from them and won't waste their time depositing there?
1127  Other / Beginners & Help / Re: Greater Control and Security Features often Come Greater Responsibilities on: September 01, 2023, 11:09:57 PM
We often emphasize, "Not Your Keys, Not Your Coins." We advise crypto newcomers to "Take your coins off exchanges."
Very timely, I've just made a thread[1] about the recent news of another company that has filed for Chapter 11 and they've lost(as said) the money of their customers.
[1] Prime Trust's bankruptcy due to forgotten seed/private key

We advocate for having the latest antivirus software and being cautious about clicking on links. Why? Because with greater control and security features come greater responsibilities.
The best antivirus is yourself. That's true about clicking links so that the best starts from yourself knowing what you're clicking, what websites you are downloading and what applications and software you download. Because if you're familiar with your browsing activity, there's no amount of anti virus can par with that. On the other hand, even if you've got the best antivirus and you have the latest update but if your browsing activity isn't as safe as what individuals do, that's a useless thing to have so discipline. still.
1128  Bitcoin / Bitcoin Discussion / Re: Prime Trust's bankruptcy due to forgotten seed/private key on: September 01, 2023, 06:48:55 PM
This is absolutely a planned exit bud, never should we believe all these lies that they tell us, a criminal will always have an excuse and when coming up with such excuse, they will look for one that seems very true and appealing and believable.

I personally believe that nobody in their right senses will lose a private key or seed phrase to a wallet containing such an amount of money, 38.9 million dollars is not child's Play, they have probably planned it all and are ready to Battle/defend this claim whether it takes them years,  at the end of it all, when everyone has forgotten, they will quietly withdraw this money and start enjoying themselves meanwhile those that have lost have lost...

Not your keys,  not your crypto , those who have refused to listen and believe in this the soft way,  will have to learn to believe it in the hard way.
I think that these corporations have got the idea of what they're doing from the first ones that have probably done the same thing. And they're not just a few but several companies that hides their main purpose and tries to stir things up through making it like they're a dumb company that have lost the password for their corporate wallet.

So weird to see that some people are still interested in using this services for nothing than to later regret about their decision with them, mamy we should assume it's a mistake common to newbies or even most user's experience in tgis know about the risk but can't help thwn to deliberately risk their asset with thm, when it's not your keys the coins does not belong to you, this is ot a joke but the fact of the matter, i believe with this same experience, eome have learnt their own in the hard way.
Well, it's not going to change for a long time not until everyone has been a victim of these services and lost the funds that they've worked hard for. The trust that one's commit is because they're registered and covered by government laws. But these people don't know that when situation like this escalates, there's no way the government can help them get those refunds if all has been wiped. Everyone will learn the lesson the harsh way even if we don't want to.

This is obviously a hoax. Anyone storing 40 million dollars worth of assets will take at least the precaution of having a backup, if it's a company they will have several backups held by different members of the board or put it in a multi sig wallet so no singular member of the board can sign a transaction without the other.

They will probable wait a while and then claim another party has possibly gained access to the wallet, and then liquidate all the funds on it through mixers and the court will not be able to act cause they do not have any proof of the scam.
That's sad. It's really possible that they can get away, give some excuse that they have really forgotten the wallet to make people gullible that they really do. For sure that there's gonna be orgs or individuals that will monitor the wallet that have been said that they've lost. So, no surprises if it gets accessed by anyone and soon may be told as "hacked" wallet and funds to reason again.

It's Ironic that a company that is supposed to provide custody for the cryptocurrency has actually lost the seed/ recovery seeds so now all those funds are stuck?

I don't know how many lessons are needed for investors to remember the significance of self-custody of their crypto assets to mitigate this kind of situation. As far as I can read it's about 40 Million dollars worth of assets it's huge so hopefully people will take this into consideration next time if they opt for custodial service.

One more reason to say Not Your Keys, Not Your Coins.
As much as we don't want investors to experience something like this, it's like this event is inevitable as there will be more newbies that will come to the market prior to the bull run halving. And the sad thing is that they're going to trust more of these custodial services than to listen to the people that tells them to hold their own crypto.

From the https://decrypt.co/152508/prime-trust-chapter-11-bankruptcy link:

Quote
Regulatory filing reported that Prime Trust owed over $82 million to customers from missing fiat currency deposits, despite having $68 million in digital assets under custody. But an analysis showed most of those funds were held in an illiquid token rather than Bitcoin.

So they lost the keys AND bought a ton of some shitcoin / token.

Since they are / were a Nevada company might as well as gone to Las Vegas and bet it all in a video slot machine. This was you can see all the blinking things on the screen as your money disappears.

And their website is still up and running without a mention of what is going on.

Another day, another bunch of people who can't figure out the magical internet money machine is a myth.

-Dave
That's probably right that funds could have been gone and gambled, and this is possible due to what happened to FTX fiasco and Bankman's spending. As for the shit coin: Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says and there could be more.

This seems to be so unbleivable that one like me will definitely say this is just an exit plan because if it's a fintech company, then how did they come to lose the keys to funds, and first of all, why are they keeping all the funds in a single address? To be honest, I feel sad for the ones who lost their funds, but AFAIK, if they would hire someone good at investigation, then the chances are that they might get access to the key. Of course, the recovery operation depends on which device (HW, software wallet) they are using: did they create the recovery key using offline systems or online? Did they create the key using some specific cypher with some key? Then they might regenerate the key.

I mean, if they are managing the funds of others, then they at least should create the key from some generators with their own encryption key to enhance the security, and if they do it, then they must use the same key to regenerate the key.
We're all feeling bad and sympathy is always with the victims and not with these greedy corporations that have been using their customer's money as their ladder for their own personal gains and sakes. I am pretty sure that there could be people interested on this case and won't be dumb to believe their potential fake story.

And I do not know how this is directly related to Bitcoin, which you made a topic of this discussion.
Maybe on Service Discussion?

Well, it's also very easy to claim the keys or seed was lost/misplaced.
I won't say the loss is for real or not, it's also hard to prove anything. The only proof could be if one of those owners (or a random employee maybe!) suddenly disappears (goes under the radar for a great retirement).

You know, one would expect for a fintech company they'd use multisig wallet, to make not only safer, but also more fair if there are more owners, but meh...
I guess it's gonna be long until we will finally hear the real story behind this but, it would be amazing and good to hear someone inside that can't take what's happening and will speak the truth behind this.

The story is hard to believe and laughable that such a company like prime trust would be this negligence to lose their private keys understanding fully the importance of those keys not just to them but to the multitude of investors that have placed their financial trust on them. There's more to this story that we can't determine at this stage and time.

If the keys are later to be found by some anonymous group or fellow years probably when the case would died down then I'll believe what the tiny voice in my ears is telling me, that yeah it may be an exit plan and not negligence.

This is what will continue to happen as people continue making same mistakes of keeping their funds in the custody of a third party. When you care-less of taking responsibility of your private keys by holding your funds in a selfcustody wallet you should be ready to accepts these sorts of stories because it will keep happening one way or the other, accept it or not.
Yeah, sooner or later the truth will come as this is still a developing story and news but one thing is for sure that they've filed for bankruptcy. I remember that story also about killed CEO that he's the only one who knows the keys. I think that we're seeing the same story and style but if the story about that and life was taken for real, rip to him.
1129  Bitcoin / Bitcoin Discussion / Prime Trust's bankruptcy due to forgotten seed/private key on: September 01, 2023, 04:22:46 PM
So, this news was a few weeks ago and I haven't seen someone posted it yet. Just a quick background of what Prime Trust is, it's a fintech company that manages assets of its customers, yeah a custodial service. See the reference:

Prime Trust is a financial technology company. It provides trust and custody services to cryptocurrency and digital asset businesses. The company was founded in 2016 and is based in Las Vegas, Nevada. In August 2023, Prime Trust filed for bankruptcy.

Going on, they've filed for Chapter 11 (bankruptcy) and if we're going to search for some reasons behind that. Mostly, it's all about the mismanagement, liquidity issue and misuse of its customers funds, etc. which is written all over several articles:



and many more...

Now the part that I've like to share is their negligence of one of the main reason why they fell is because its owners have lost the control to their keys. Yes, you've heard that right, they've lost the seed phrase of their wallet.


They've got tons of customers and money on their custody and they just lost it. Maybe a planned exit? or just truly negligence of its owners.

This is the reason why we shouldn't keep funds into these centralized/custodial services and exchanges.
1130  Economy / Services / Re: [OPEN] 0xBET - Crypto Casino | Sig Campaign | Up to 0.0025 BTC/W on: August 31, 2023, 04:55:37 PM
I did a withdrawal request an hour ago and I've received an email that it was successful but funds hasn't arrived yet.
I already sent the rep a message about my concern.
I had the trouble of mine yesterday only to know that it was my fault, not theirs.

I was sensitive to note that the fund was been returned back to my account each time I filed for the withdrawal instead of waiting endlessly for the receiving wallet to be credited. If this is your case, you might want to be sure you confirm your email address through the mail sent to you upon registration. It could be in the Spam folder.

It might not come up if you search with 0xbet, just trace it manually.
Thanks, it was my fault. Dumb me. They have also sent me an email about other instructions. Apologies.
1131  Economy / Economics / Re: India just bought 1 million barrels of oil using rupees instead of USD on: August 31, 2023, 07:07:37 AM
In order to pay with the national currency in transactions for large amounts, it is necessary that there be a good reverse trade turnover between these two countries.
Being good trader partners and mutual talks are going to benefit countries that are in good terms. And for this deal that's made by India, it was really a good deal that they're able to make for buying a million barrel with their Indian Rupees.

That is, in this case, the UAE should be able to spend Indian rupees, purchasing in India or other countries the goods necessary for the UAE in the same volumes for rupees.
That's another thing that they can do with the Rupees used to pay them and since this trade has been made, it's also possible that they might just keep the money and wait a little bit until they able to do something with it. And that means going back to economy again of India if that's what they're going to do, buying assets in India.

Otherwise, the UAE will suffer losses from such trade in rupees, as happened with Russia. Russia is now selling its oil at deep discounts to India for rupees, but doesn't know what to do with it.
The dollar, as the world's reserve currency, has no such problems.
It's an easy deal for India if they're able to pay with their own currency and doesn't need to get converted into USD or any currency that's being preferred by their trade partners.
1132  Bitcoin / Bitcoin Discussion / Re: Bitcoin achievement on: August 31, 2023, 04:55:14 AM
I was about to believe your story that you've got everything from Bitcoin but, let's say that you really did and you have got all of those possessions from Bitcoin when you've sold and this story is real. How you're able to put it all together from owning 1 bitcoin and the peak there was $20k. So, that includes a house and a car and you probably have fully paid everything with it? Also, Agb had quoted some interesting contradiction that you have said, from there it's not believable anymore to the one that you tackles with. I think that we're seeing success stories like this that have been posted here and there. Anyway, if you ever got a family, take care of them and that's the most priceless and best consolation that you can ever have whether you're invested on bitcoin or not.

1133  Economy / Gambling / Re: ✅ 0✘BET | Casino & Sportsbook | NO KYC ' Fast Payouts! 🎲⚽ on: August 31, 2023, 01:24:32 AM
Hi, @OP.
I've sent a message about my concern about withdrawal. I've also provided the details of my account. Thanks for your help and will wait for it, have a great day ahead. Smiley

My bad, 0x.bet has emailed me with set of instructions. I think the others have also need to do the same and check their email.
Thanks, it was my fault. Dumb me. They have also sent me an email about other instructions. Apologies.



Everyone could also check what @earnonvictor suggested.

I had the trouble of mine yesterday only to know that it was my fault, not theirs.

I was sensitive to note that the fund was been returned back to my account each time I filed for the withdrawal instead of waiting endlessly for the receiving wallet to be credited. If this is your case, you might want to be sure you confirm your email address through the mail sent to you upon registration. It could be in the Spam folder.

It might not come up if you search with 0xbet, just trace it manually.
1134  Economy / Services / Re: [OPEN] 0xBET - Crypto Casino | Sig Campaign | Up to 0.0025 BTC/W on: August 31, 2023, 01:17:35 AM
I did a withdrawal request an hour ago and I've received an email that it was successful but funds hasn't arrived yet.
I already sent the rep a message about my concern.
1135  Economy / Service Discussion / Re: Bitskins upgraded their platform and I lost over 22000 affiliates on: August 30, 2023, 11:32:36 PM
This is painful, I know and understand the effort that you've exerted into working with that much affiliates on their platform. But sad to say if they so, there's nothing you and us can do with that but only them. If I were them, I'll give some recognition to you for having that much based on the work that you've put into making that lot of affiliates. I think that this is the first time to see someone who's in affiliate marketing that has got this number of affiliates but @OP, sorry about that but it is what it is and they're the own boss of their own program and company. Maybe the only thing that you can do is to keep on sharing this story of yours in different affiliate communities to make the situation of yours known and get the attention of everyone.
1136  Bitcoin / Bitcoin Discussion / Re: hmmm fishy on: August 30, 2023, 09:12:34 PM
We need to stop overthinking about others wallet and instead, we need to focus on our own. Every time the market drops or gets up, we do see these people looking at those huge transfers for them. This isn't that much and it can be an individual that just recently made a move to sell/dump those as it's visible that there's going to be a sudden pump. Even in the normal days, there will be transfers like this and it has nothing to do with the market. Thanks to those pages that have been monitoring these moves because this now have became a signal to those people that are only looking for transfers if something has been done to the market. It can be a good factor to know the market sentiment but it's not always like what people thinking because it only gives you anxiety when you're in a FOMO.
1137  Other / Beginners & Help / Re: Is DeFi an aging, over-hyped mess or a great thing? on: August 30, 2023, 07:22:11 PM
Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.
There's still little demand on it but if that demand fades then it's just good as how the ICOs were gone. We have the idea on how these hypes are becoming gone due to the fact that the market always need something new to make the investors keep on being active. While DeFi sounds as WiFi, I don't see any connection or relevance on it but only everyone is required to be connected to the internet for us to access them.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?
You have the idea on what it is and that's the first thing that you've said.
1138  Economy / Exchanges / Re: My need help Please help me on: August 29, 2023, 08:41:52 PM
OP registered on the same day when he has posted two threads and didn't come back. That speaks well for what you're up to OP and that means that you're with dollarpesa and you're not legitimately asking if they're approved or whatnot. But you seem to have a successful attempt to make people curious and look on the topic that you've made but not to the actual link or channel that you've mentioned over your thread. Maybe a few or some of us did but not most of us.
1139  Other / Beginners & Help / Re: Are there crypto related freelancing sites around? on: August 29, 2023, 05:39:08 PM
I have gone through majority of the sites recommended and discovered most of them are either dormant, lacking employers or have bug in their web pages. I am a full stack developer seeking to do quick services on a crypto freelancing site but it seems it is more difficult in the crypto space as there are no dominant freelancing sites competing with the likes of Fiverr and Upwork.
Well, that's true that many of these crypto jobs posting websites are either like that based on your observation. Aside from those suggestions, you can post your service on the Services. Include all of your past works and projects that you've worked with as a full stack developer. Another idea is to visit every crypto company's career page like Binance career to see the openings that they have to see if the desired position you wanna fill is open and they have a slot for you. That's what you need to do if you find those crypto job marketplaces aren't too active at all. You have to go through each of them check all the openings that they have, so that's just the idea that you can start looking at crypto exchanges and so on.
1140  Economy / Scam Accusations / Re: Facebook Ads Scam on: August 29, 2023, 01:12:07 PM
Hello,

Why does Facebook allows ads for Elon musk to present opportunity for bitcoin auto trading using Quantum AI?
I noticed in the video that Elon Musk is speaking about the AI platform that it can auto trade with $250 USD minimum deposit and help people become rich in a short amount of time. This fake news  video must have been done by scammers and I always report the ads but it comes back again. I also saw the comments in Facebook that the platform helped them earned money but I believe it is a fake comments made by scammers with fake or hacked Facebook profile.
These scammers that have been using like videos of Elon Musk that talks in a convention and then putting it up like it's theirs and put some text about their project is also popular in YouTube hacked accounts. And those comments that are supporting these scammers are also them, it is obvious that those are fake accounts too. Honestly, just like YouTube, Google, Facebook(Meta) isn't really strict in terms of these ads that are coming out to our feed. In fact, there's one that I've reported before about a fake ledger IPO and it's a sponsored ad.

I just installed an app called text me with a virtual phone number and not my actual number to see how thee scam works and I get calls from different number from different countries so scammer encourage me to sign up and deposit the money but I hang up the phone. The scammers claimed the trading website is regulated in Canada and UK which is not true. This are the website www.bethebank.site which seems to be offline and www.afexeu.com but unregulated and they claimed company not regulated is not a necessarily a scam and they said I can try with $250 dollars and see how it works and if it did not perform well I can withdraw the money anytime but that seems a lie. Also one of the scammers who called me said they want  me to install any desk so they can have access to my pc to set up the account but I never gave them access nor deposited the $250 dollars.
A lot of red flags already.

  • Allowing someone, a random stranger to remote access your PC
  • Huge deposit
  • Giving you rapport and trust that you can withdraw anytime

The strange thing that scamadviser give afexeu.com a very good score how can that happen? They write fake good reviews to give the rating high?
Yes, many from there are fake and paid reviews.
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