adammr1 (OP)
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September 16, 2015, 01:04:22 PM |
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So I just read BurtW (I think thats his name) post about getting into trouble with homeland security for trading on localbitcoins. Was it something that he did wrong or did he do something he wasn't aware of? Didn't delcare taxes etc.
Is it safe for me who lives in Germany to use the service? Maybe the site is illegal in the states?
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Newar
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https://gliph.me/hUF
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September 16, 2015, 01:16:52 PM |
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If I remember correctly LB halted their service in Germany.
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Furio
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September 16, 2015, 01:21:26 PM |
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So I just read BurtW (I think thats his name) post about getting into trouble with homeland security for trading on localbitcoins. Was it something that he did wrong or did he do something he wasn't aware of? Didn't delcare taxes etc.
Is it safe for me who lives in Germany to use the service? Maybe the site is illegal in the states?
Localbitcoins is sinking.... Traded frequently on it till a year ago, now they block your account under suspicion, even if you have done NOTHING. They're just ridiculous  |
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johnyj
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Beyond Imagination
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September 16, 2015, 01:37:33 PM |
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There are many scammers and drug dealers using localbitcoins, so it is extremely sensitive from law enforcement point of view. The site should have implemented AML and KYC measures to reduce the amount of fraud and illegal acitivities, but since there are no law currently require an escrow service to do that (I think it will come sooner or later), it is totally up to the dealer to follow the AML and KYC rule (I guess most of the pro traders on the platform do that)
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crazyearner
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September 16, 2015, 08:54:37 PM |
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So I just read BurtW (I think thats his name) post about getting into trouble with homeland security for trading on localbitcoins. Was it something that he did wrong or did he do something he wasn't aware of? Didn't delcare taxes etc.
Is it safe for me who lives in Germany to use the service? Maybe the site is illegal in the states?
Localbitcoins is sinking.... Traded frequently on it till a year ago, now they block your account under suspicion, even if you have done NOTHING. They're just ridiculous To be hoenst I been with them for a number of years never had any problem but seeing a lot of down trends with them and volume of trades going though on it or even seeing it being really active like it use to be. As you said few years back it was good. Now well it is a tough battle when their far better places popping up to use and trade with and exchange your coin into fiat. I give it a few more years maybe they will be at the bottom of the list, who knows but time will only tell. |
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NewLiberty
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Gresham's Lawyer
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September 17, 2015, 01:23:56 AM |
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No BurtW did nothing wrong, other than living in an area that has forfeiture laws. Forfeiture laws allow law enforcement to take any asset because of suspicion, and then you must prove your innocence to get the assets back from them. They get to keep any assets that you aren't able to reclaim for their own, and spend it on anything they like. Comedians rightly poke fun at such laws: https://www.youtube.com/watch?v=3kEpZWGgJks |
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MaxLBC
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September 17, 2015, 07:11:19 AM |
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There are many scammers and drug dealers using localbitcoins, so it is extremely sensitive from law enforcement point of view. The site should have implemented AML and KYC measures to reduce the amount of fraud and illegal acitivities, but since there are no law currently require an escrow service to do that (I think it will come sooner or later), it is totally up to the dealer to follow the AML and KYC rule (I guess most of the pro traders on the platform do that)
So I just read BurtW (I think thats his name) post about getting into trouble with homeland security for trading on localbitcoins. Was it something that he did wrong or did he do something he wasn't aware of? Didn't delcare taxes etc.
Is it safe for me who lives in Germany to use the service? Maybe the site is illegal in the states?
Localbitcoins is sinking.... Traded frequently on it till a year ago, now they block your account under suspicion, even if you have done NOTHING. They're just ridiculous To be hoenst I been with them for a number of years never had any problem but seeing a lot of down trends with them and volume of trades going though on it or even seeing it being really active like it use to be. As you said few years back it was good. Now well it is a tough battle when their far better places popping up to use and trade with and exchange your coin into fiat. I give it a few more years maybe they will be at the bottom of the list, who knows but time will only tell. Actually, our fraud rate is less than 0.5% right now. it's gone down significantly from the start of the year. And volume wise we're up around 40% from the start of the year. |
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Furio
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September 17, 2015, 07:41:35 AM |
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There are many scammers and drug dealers using localbitcoins, so it is extremely sensitive from law enforcement point of view. The site should have implemented AML and KYC measures to reduce the amount of fraud and illegal acitivities, but since there are no law currently require an escrow service to do that (I think it will come sooner or later), it is totally up to the dealer to follow the AML and KYC rule (I guess most of the pro traders on the platform do that)
So I just read BurtW (I think thats his name) post about getting into trouble with homeland security for trading on localbitcoins. Was it something that he did wrong or did he do something he wasn't aware of? Didn't delcare taxes etc.
Is it safe for me who lives in Germany to use the service? Maybe the site is illegal in the states?
Localbitcoins is sinking.... Traded frequently on it till a year ago, now they block your account under suspicion, even if you have done NOTHING. They're just ridiculous To be hoenst I been with them for a number of years never had any problem but seeing a lot of down trends with them and volume of trades going though on it or even seeing it being really active like it use to be. As you said few years back it was good. Now well it is a tough battle when their far better places popping up to use and trade with and exchange your coin into fiat. I give it a few more years maybe they will be at the bottom of the list, who knows but time will only tell. Actually, our fraud rate is less than 0.5% right now. it's gone down significantly from the start of the year. And volume wise we're up around 40% from the start of the year. Really interesting how thats possible, NON have reacted on my trades for the past six months, while that used to be about 3/4 a WEEK! Trade volume up? I highly doubt it. Maybe you're talking about an area in particular, overall the facts speak different sadly.... |
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MaxLBC
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September 17, 2015, 07:51:28 AM |
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Really interesting how thats possible, NON have reacted on my trades for the past six months, while that used to be about 3/4 a WEEK! Trade volume up? I highly doubt it. Maybe you're talking about an area in particular, overall the facts speak different sadly....
You can actually see for yourself. Through our API we publish information on volume per currency. A friendly user has used our API to create this site which shows our weekly volume for a few currencies: http://charts.coin.dance/. |
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Winalunt
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September 17, 2015, 08:00:53 AM |
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I have done handful of trades on LBC too and not all went smooth but the majority were ..
one thing I can bet on is 'they allow scammers and promote them'.
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Newar
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https://gliph.me/hUF
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September 17, 2015, 09:45:10 AM |
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IMHO the "issues" with LBC happen because they try to please the armchair traders by including all those shady payment providers and putting them first development- and visibility-wise. Very little is done for the traders that actually trade "local", i.e. face to face. I would wager a guess that the scam rate on face to face trade is near zero.
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crazyearner
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September 17, 2015, 06:06:25 PM |
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Really interesting how thats possible, NON have reacted on my trades for the past six months, while that used to be about 3/4 a WEEK! Trade volume up? I highly doubt it. Maybe you're talking about an area in particular, overall the facts speak different sadly....
You can actually see for yourself. Through our API we publish information on volume per currency. A friendly user has used our API to create this site which shows our weekly volume for a few currencies: http://charts.coin.dance/. Nice status report of volumes however some of them are down but most up. I will continue to use localbitcoins. open the doors for different types of payment maybe exchanging out from BTC into another coin would be a good feature to have and be allowed to do so with trades from people like sell BTC buy LTC or vise vers and so on. |
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gentlemand
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Welt Am Draht
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September 18, 2015, 08:26:05 PM |
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As others have said it's not available in Germany. Look at Bitcoin.de. It's integrated with certain banks so trades can be nearly instant.
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Winalunt
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September 19, 2015, 09:54:49 AM |
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It's integrated with certain banks so trades can be nearly instant.
banks ? if you dont care about anonymity or privacy then why are you avoiding coinbase ? it takes some days though.. |
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NoRespect
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September 19, 2015, 11:25:50 AM |
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As others have said it's not available in Germany. Look at Bitcoin.de. It's integrated with certain banks so trades can be nearly instant.
correct essentially bitcoin is a secure site and can be used in every country,, if illegal LB certainly have long blocked by country |
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BurtW
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All paid signature campaigns should be banned.
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November 02, 2015, 05:54:31 PM |
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No BurtW did nothing wrong, other than living in an area that has forfeiture laws. Forfeiture laws allow law enforcement to take any asset because of suspicion, and then you must prove your innocence to get the assets back from them. They get to keep any assets that you aren't able to reclaim for their own, and spend it on anything they like. Comedians rightly poke fun at such laws: https://www.youtube.com/watch?v=3kEpZWGgJksIf you live in Germany you won't run into the specific problem that I had (US Homeland Security) but you might have issues specific to Germany. If you are interested you can read all about my case here: http://www.jmwagner.com/http://www.burtw.com/ |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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justbitcoins
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November 02, 2015, 08:45:02 PM |
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I have done several bitcoin trades with local bitcoin. I bought bitcoin from localbitcoins. I paid money through bank transfer and get the bitcoin later. No problem at all.
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BurtW
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All paid signature campaigns should be banned.
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November 04, 2015, 02:06:22 PM |
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I have done several bitcoin trades with local bitcoin. I bought bitcoin from localbitcoins. I paid money through bank transfer and get the bitcoin later. No problem at all.
Just going on localbitcoins, finding a buyer or seller there, and then meeting with them is not as problematic as setting up an account to buy/sell and then advertising there. It is the advertising your willingness to buy/sell that makes it look like a business and may require a license. Just using the localbitcoins service to locate a buyer/seller who has an ad on the site does not make you look like a business. |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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ShetKid
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November 04, 2015, 03:36:22 PM |
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I have done several bitcoin trades with local bitcoin. I bought bitcoin from localbitcoins. I paid money through bank transfer and get the bitcoin later. No problem at all.
Just going on localbitcoins, finding a buyer or seller there, and then meeting with them is not as problematic as setting up an account to buy/sell and then advertising there. It is the advertising your willingness to buy/sell that makes it look like a business and may require a license. Just using the localbitcoins service to locate a buyer/seller who has an ad on the site does not make you look like a business. I wonder how risky is that in other countries where the laws are not that strict. tbh you and a couple of other cases are the only ons I heard of having problems. Did lbtc ever result into people having problems in other countries ? |
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