Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Ivor Biggun]

Capitulation question. Canadian exchanges have just thrown up a bundle of verification roadblocks to withdrawal to fiat. With hundreds of BTM's in most cities, what's to stop someone from going machine to machine cashing out?

link?

what kind of roadblocks?  what if one is already verified out the ass on multiple exchanges, domestically and internationally?

Quadriga will still courier bundles of cash, right?

Are there any big Canadian exchanges? I thought most of the big exchanges were based elsewhere in the world.

QuadrigaCX is at 61th place for volume according to coinmarketcap.

https://coinmarketcap.com/exchanges/volume/24-hour/

The only other exchange bitcoinity shows as offering CAD trading is the kraken, which has very low CAD trading volume.

https://bitcoinity.org/markets/kraken/CAD

If I was Canadian I'd trade through a foreign exchange.

[Rosewater Foundation]

Kraken does bank wires in CAD but Quadrigacx used to have all sorts of convenient options that now that I'm in capitulation mode have vanished.

I was busy taking a selfie with my passport when I noticed the damn thing is expired.

[cAPSLOCK]

Yeah but check the withdrawal page now. Everything requires verification. That wasn't the case 6 weeks ago.

canadian localbitcoins volume just went through the roof - https://coin.dance/volume/localbitcoins/CAD

related?

but so did europe as well. it's far higher than the peak of the bubble. i'm really not sure why.

Is that the mayor cashing out?

[jojo69]

If I was Canadian I'd trade through a foreign exchange.

what he needs is a fiat off ramp

[Rosewater Foundation]

Yeah but check the withdrawal page now. Everything requires verification. That wasn't the case 6 weeks ago.

canadian localbitcoins volume just went through the roof - https://coin.dance/volume/localbitcoins/CAD

related?

but so did europe as well. it's far higher than the peak of the bubble. i'm really not sure why.

Is that the mayor cashing out?

It's not as painless as I'd imagined

[European Central Bank]

It's not as painless as I'd imagined

go find an OTC place like genesis trading or cumberland mining.

you'll get money straight in your account from an account that doesn't set off red flashing lights and sirens in the bank's office.

[Ivor Biggun]

If I was Canadian I'd trade through a foreign exchange.

what he needs is a fiat off ramp

If he wants to sell at the bottom he could use one of JimboToronto's favorite local ATMs that allow withdrawing up to $5k per day.

You can get that much out of an ATM in Canada?    

No problem. Some machines allow up to $10k per day to stay within AML limits.

My local ATM allows up to $5k per day but I had to split it into 2 $2.5k transactions.

Paid me all in brownies ($100 bills) after only 2 confirmations. Fast, clean and simple.

[Rosewater Foundation]

If I was Canadian I'd trade through a foreign exchange.

what he needs is a fiat off ramp

If he wants to sell at the bottom he could use one of JimboToronto's favorite local ATMs that allow withdrawing up to $5k per day.

You can get that much out of an ATM in Canada?    

No problem. Some machines allow up to $10k per day to stay within AML limits.

My local ATM allows up to $5k per day but I had to split it into 2 $2.5k transactions.

Paid me all in brownies ($100 bills) after only 2 confirmations. Fast, clean and simple.

I'll have to talk to Jimbo. The ATM I was looking at was looking to really squeeze me.

[Rosewater Foundation]

In the meantime, I encourage Bitcoin to GO BITCOIN GO!

[Ivor Biggun]

I'll have to talk to Jimbo. The ATM I was looking at was looking to really squeeze me.

Go though the rates for all your nearest ATMs shown on coinatmradar until you find one that's not ripping you off.

https://coinatmradar.com/

This post explains how Jimbo does it. He said in other posts that he has to shop around until he finds one with a rate he likes. Some of them have a constantly changing rate.

Did your ATM let you withdraw 2 $2.5k transactions anonymously (without ID) a few weeks ago? I assumed you must have provided ID scans to get that kind of limit allowed.

No ID required. To maintain a daily limit for the purpose of AML laws, they require a cell phone on which you can receive text messages.

To sell coins, you enter your cell number and they immediately text you a code number to enter into the ATM. This unlocks the ATM and allows you to do the transaction. After you have specified the amount of the transaction, it displays a QR code to scan with your mobile hot wallet.

It then tells you to wait for the transaction to be confirmed by the network. I always include a priority fee and it has always been included in the next block. After it has been confirmed, it texts you and tells you to return to the ATM and tap "redeem".  They then text you another code number. When you enter that number it immediately starts spitting out $100 bills.

The time it takes for the whole process depends on the time it takes to confirm the TX. It has never taken me more than a half hour.

The cell phone I use is an anonymous pay-as-you-go Speakout flip-phone from a 711 store. I have several of them (all free from promotions) in case I ever need to exceed my daily limit. Because Speakout allows free texting even when the time has run out, they cost nothing and are always available.

The Android device I use for the Mycellium wallet to sweep a paper wallet and send the coins, is a cheapie Blu phone they were giving away for free for buying an air-time top-up in a holiday promotion a couple of years ago. To get Android to boot up I had to insert a SIM card but I found that a non-activated card worked just fine. The SIM card was also free in a promotion and fully anonymous. I connect to the network via free wifi from a donut shop next door. Of course the Android phone has never been connected to my home wifi nor been associated with my identity in any way.

Needless to say, I never connect to Google or Playstore. I installed Mycellium from an APK file downloaded on a Windows PC from the Mycellium website.

Buying coins is even easier. You simply tap "buy", scan the QR code for your paper wallet's public key, and start feeding in cash. No phones or devices required.

I'll never understand why people have a problem with paper wallets. They're easy to use and and offer the ultimate in security.

[Rosewater Foundation]

Gracias.

[Rosewater Foundation]

 

[Torque]

it looks like sometimes data mining catches out the creeps at the top too.

https://news.uchicago.edu/article/2018/03/06/nyc-taxi-ride-data-suggest-cozy-relationship-between-big-banks-and-fed

Utterly unsurprising, yet still infuriating, makes me want to burn and rob.

Shit, this 'inferred' data is likely nothing compared to the evidence of collusion you'd find in the phone and text data.

[DPoS2]

I'll have to talk to Jimbo. The ATM I was looking at was looking to really squeeze me.

Go though the rates for all your nearest ATMs shown on coinatmradar until you find one that's not ripping you off.

https://coinatmradar.com/

This post explains how Jimbo does it. He said in other posts that he has to shop around until he finds one with a rate he likes. Some of them have a constantly changing rate.

Did your ATM let you withdraw 2 $2.5k transactions anonymously (without ID) a few weeks ago? I assumed you must have provided ID scans to get that kind of limit allowed.

No ID required. To maintain a daily limit for the purpose of AML laws, they require a cell phone on which you can receive text messages.

To sell coins, you enter your cell number and they immediately text you a code number to enter into the ATM. This unlocks the ATM and allows you to do the transaction. After you have specified the amount of the transaction, it displays a QR code to scan with your mobile hot wallet.

It then tells you to wait for the transaction to be confirmed by the network. I always include a priority fee and it has always been included in the next block. After it has been confirmed, it texts you and tells you to return to the ATM and tap "redeem".  They then text you another code number. When you enter that number it immediately starts spitting out $100 bills.

The time it takes for the whole process depends on the time it takes to confirm the TX. It has never taken me more than a half hour.

The cell phone I use is an anonymous pay-as-you-go Speakout flip-phone from a 711 store. I have several of them (all free from promotions) in case I ever need to exceed my daily limit. Because Speakout allows free texting even when the time has run out, they cost nothing and are always available.

The Android device I use for the Mycellium wallet to sweep a paper wallet and send the coins, is a cheapie Blu phone they were giving away for free for buying an air-time top-up in a holiday promotion a couple of years ago. To get Android to boot up I had to insert a SIM card but I found that a non-activated card worked just fine. The SIM card was also free in a promotion and fully anonymous. I connect to the network via free wifi from a donut shop next door. Of course the Android phone has never been connected to my home wifi nor been associated with my identity in any way.

Needless to say, I never connect to Google or Playstore. I installed Mycellium from an APK file downloaded on a Windows PC from the Mycellium website.

Buying coins is even easier. You simply tap "buy", scan the QR code for your paper wallet's public key, and start feeding in cash. No phones or devices required.

I'll never understand why people have a problem with paper wallets. They're easy to use and and offer the ultimate in security.

Well you aren't in the USA where they have cameras and datapoints of your existence everywhere.. there are at least 8-10 people and a supercomputer assigned to EACH civilian.. lab animals have more freedom

[Elwar]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

[Rosewater Foundation]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

https://spectrocoin.com/en/bitcoin-in-French-Polynesia.html

[Elwar]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

https://spectrocoin.com/en/bitcoin-in-French-Polynesia.html

Interesting. I did see some kid here use Payeer as his Bitcoin wallet. But I think he used it for some dollar transaction or something.

Edit: After checking it out I can't transfer CFP to it.

I was told there's no local credit cards. Just a bank type of card.

[Rosewater Foundation]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

https://spectrocoin.com/en/bitcoin-in-French-Polynesia.html

Interesting. I did see some kid here use Payeer as his Bitcoin wallet. But I think he used it for some dollar transaction or something.

For $3k a piece you can huck a mess of these everywhere.



I'm actually surprised none of us has ever talked about owning one

[criptix]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

https://spectrocoin.com/en/bitcoin-in-French-Polynesia.html

Interesting. I did see some kid here use Payeer as his Bitcoin wallet. But I think he used it for some dollar transaction or something.

For $3k a piece you can huck a mess of these everywhere.



I'm actually surprised none of us has ever talked about owning one

Running a BTC ATM is troublesome because depending on your location you will need to have certain kind of license. :/


Btw. Seems im a really good netizen of bitcointalk.

My social credit seems pretty high

[Elwar]

I am starting to realize that the very obvious problem here in French Polynesia when it comes to crypto is that there is no bitcoin exchange here.

I am considering changing that. I will be talking to the heads of the three banks here in Tahiti along with regulators to get a feel for how much resistance I will run into if I put up an exchange.

If all goes well, are there any open source solutions out there to give me a template to get started on setting up an exchange? It would seem that with so many exchanges being hacked there would be some open source out there so more eyes can be on it.

https://spectrocoin.com/en/bitcoin-in-French-Polynesia.html

Interesting. I did see some kid here use Payeer as his Bitcoin wallet. But I think he used it for some dollar transaction or something.

For $3k a piece you can huck a mess of these everywhere.



I'm actually surprised none of us has ever talked about owning one

We were looking into putting a bitcoin ATM at the airport here.

But again...it comes down to the fact that there is no exchange here. People putting their CFP into the machine and getting bitcoins would mean I would need to take that CFP and convert it to bitcoins.
At the moment the way to do that is to wire CFP into Euros to a bank in Europe and then wire your euros to a European bitcoin exchange.

Same process for getting BTC to CFP.

We already have the government contacts for the seastead. We will see if we can talk to the same folks about allowing a Bitcoin exchange.