Unlicensed Exchangers

[katiecbell]

Oh my god..Thanks for informing that XAPO is not trusted.

i will remove my funds now from there

[TheDreadPirateDickstein]

Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

Because Freedom.

Remain anomymous, anything goes, pump as you please and none shall interfere.

I personally prefer the unregulated exchanges to the regulated ones....but the compliant exchanges have all the volume now because pussies like you are too scared to live in the 2012 world of Bitcoin, which was an Anarcho-Capitalist paradise

[eyeknock]

Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

Because Freedom.

Remain anomymous, anything goes, pump as you please and none shall interfere.

I personally prefer the unregulated exchanges to the regulated ones....but the compliant exchanges have all the volume now because pussies like you are too scared to live in the 2012 world of Bitcoin, which was an Anarcho-Capitalist paradise

believe me, in the end, there is no difference between them, the only one difference is that "word", regulated, the rest is the same, they will scam you if needed, but with only one difference, the regulated one, will scam you using the law, so if people feel more comfortable with it...
this is another good example about why decentralized exchanges should be used...

[katiecbell]

Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

XAPO also in the list  

I thought XAPO was trusted wallet ?
Please advice

there are only 4 licensed exchangers in USA. USA is well known as a country who enforce the financial laws pretty well.

Licensed exchangers in USA : Coinbase, Circle, Itbit(for New York only) and Gemini(NY only) . The rest of the US exchangers are OUTLAW (XAPO  is one of them) and they can be shut down anytime as it already happened to many...

Xapo is not only a...wallet. You can buy BTC from them, they have debit cards as well. That means it is required a money transmitter license.

Example: http://www.coindesk.com/bitcoin-firm-xapo-cuts-north-carolina-access

Also, Xapo is lying like a shit "Xapo has officially relocated its corporate headquarters to Zurich, Switzerland," (May 2015)  while on their website is saying:

"HEADQUARTERS: Xapo is incorporated in Hong Kong , has an office in Palo Alto, California and operates Worldwide" and MORE in their TERMS "https://xapo.com/terms/" :

"If you are using our Services in the United States, you are engaging not with Xapo Limited but with Xapo, Inc., a Delaware corporation"   

However, they are not licensed ANYWHERE.

Really? most people here on the forum use and share that Xapo is one of the best of the best ?

[JakinRome]

By the way when they will scam ?
they havent scam till now ?

[katrimans]

By the way when they will scam ?
they havent scam till now ?

You never know when they can do fraud..

[TheDreadPirateDickstein]

Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

Because Freedom.

Remain anomymous, anything goes, pump as you please and none shall interfere.

I personally prefer the unregulated exchanges to the regulated ones....but the compliant exchanges have all the volume now because pussies like you are too scared to live in the 2012 world of Bitcoin, which was an Anarcho-Capitalist paradise

believe me, in the end, there is no difference between them, the only one difference is that "word", regulated, the rest is the same, they will scam you if needed, but with only one difference, the regulated one, will scam you using the law, so if people feel more comfortable with it...
this is another good example about why decentralized exchanges should be used...

From my experiences with Poloniex....I RELATIVELY but ultimately concur good sir

[mayax]

Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

XAPO also in the list  

I thought XAPO was trusted wallet ?
Please advice

there are only 4 licensed exchangers in USA. USA is well known as a country who enforce the financial laws pretty well.

Licensed exchangers in USA : Coinbase, Circle, Itbit(for New York only) and Gemini(NY only) . The rest of the US exchangers are OUTLAW (XAPO  is one of them) and they can be shut down anytime as it already happened to many...

Xapo is not only a...wallet. You can buy BTC from them, they have debit cards as well. That means it is required a money transmitter license.

Example: http://www.coindesk.com/bitcoin-firm-xapo-cuts-north-carolina-access

Also, Xapo is lying like a shit "Xapo has officially relocated its corporate headquarters to Zurich, Switzerland," (May 2015)  while on their website is saying:

"HEADQUARTERS: Xapo is incorporated in Hong Kong , has an office in Palo Alto, California and operates Worldwide" and MORE in their TERMS "https://xapo.com/terms/" :

"If you are using our Services in the United States, you are engaging not with Xapo Limited but with Xapo, Inc., a Delaware corporation"  

However, they are not licensed ANYWHERE.

Really? most people here on the forum use and share that Xapo is one of the best of the best ?

then go and use an unlicensed bank too. you can find many websites stating that they are a bank even they are not. deposit your money with them because i saw many positive review about some unlicensed banks...

this is for all the "anarchist" lovers. Go and use an unlicensed bank or banks from Somalia, Tanzania, Gabon, Sudan to keep your privacy...Why do you keep your money in local LICENSED in Insured banks?  

[bitmarket.net]

The important question to ask is "licence for what type of activity should the exchanges be getting ?"

Bitstamp is in the news today for getting a payment institution licence in Luxembourg.
Is Bitstamp a payment institution ?
Isn't it rather like somebody saying they can fly the plane, because they have a driving licence ?

[TheDreadPirateDickstein]

I prefer the GOX days to now to be perfectly honest

[Nimbulan]

I prefer the GOX days to now to be perfectly honest

thats a pretty interesting point of view to be honest, as that exchange turned to a huge scam that has stolen a lot of people money that were never returned, im wondering why do you prefer it

i dont see anything fwrong with the unlicensed exchanges because in my opinion everyone has the right to buy and sell their bitcoins without any limitations or licences

[mirana12345]

While it's true that there's a lot of uncertanty regarding the unregulated exchanges, i still dont think that a licenced one is any safer.
Due to nature of bitcoin, i dont see how licenced exchange would be any safer than unlicenced one. Once the funds are moved/stolen/watever - there's
no law or regulation that are going to bring them back to users.

[mayax]

I prefer the GOX days to now to be perfectly honest

thats a pretty interesting point of view to be honest, as that exchange turned to a huge scam that has stolen a lot of people money that were never returned, im wondering why do you prefer it

i dont see anything fwrong with the unlicensed exchanges because in my opinion everyone has the right to buy and sell their bitcoins without any limitations or licences

correct but without using fiat or banks because fiat is regulated and the banks as well. once you want to deal with them, you have to respect the existing laws. right?

[eyeknock]

Do you want to say both of them are or will scam us, but only different methods? While it's true, i still prefer unlicensed exchanges because i still can hide some private information and some of them already take big fees from us.
Still better only lose money by scammed then scammed by lose money because laws and potentially arrested if you use licensed exchanges.

Yes, thats exactly what i want to say, btw, unlicensed exchanges are changing his minds (in last days)  so maybe our best choise, as i already say, is to move to decentralized one, which fits perfectly with bitcoin soul

From my experiences with Poloniex....I RELATIVELY but ultimately concur good sir

and they are not the only want who will do it...

[Dabs]

I use exchanges that don't require me to be verified. But then I don't usually trade more than 10k USD at a time.

[Hazir]

I use exchanges that don't require me to be verified. But then I don't usually trade more than 10k USD at a time.

Same as me. I don't like KYC policy and ID collecting by companies when it is perfectly fine to transfer BTC without any of my personal info given.
I feel uneasy when I am asked to release my personal information to some unknown service which can be selling my info tomorrow.

[richkellj]

Ok coin has over 90% exchange distribution, while CNY is the main currency on china. Youalso cannot accpet china exchanges

[mayax]

I use exchanges that don't require me to be verified. But then I don't usually trade more than 10k USD at a time.

you can do that but do not complain on forums if an exchanger will steal your funds

[OROBTC]

...

Some of the brightest people on the planet are computer scientists or programmers.  (I am not.)

At some point a team of these very bright people may come up with a way to stay hidden (or beyond the touch of the LAW), set up an exchange with good service and not rip-off people.  I do not know how that will be done, but my guess is that it will.

An example (though not attracting as much attention as an exchange would) is bitmixer.  They have been a reputable service for years yet they keep on serving their customers excellently.

[Dabs]

I use exchanges that don't require me to be verified. But then I don't usually trade more than 10k USD at a time.

you can do that but do not complain on forums if an exchanger will steal your funds

They don't require me to be verified, but they are licensed by the financial thingy in their country. So, they probably verify me through my deposit method or something. Doesn't matter. The coins disappear once I've bought them.