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

[gentlemand]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Ah, you're a wee ray of sunshine.

I know nothing about patents. How is it possible that something that's been operating for years across the world thousands of times over can suddenly be restricted like this when they had nothing to do with its creation?

Can I patent KFC or Taylor Swift and fire them?

[User705]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

[BTCMILLIONAIRE]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

Waves is already up and running and decentralized. New platform coming up soon which will make it actually useable (the old one is lackluster and doesn't attract volume, the new one will).

There's also NVO but that's not coming until Q1 2018. DEX's will be a major thing once regulators start trying to poop the party though.

[Ivor Biggun]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Ah, you're a wee ray of sunshine.

I know nothing about patents. How is it possible that something that's been operating for years across the world thousands of times over can suddenly be restricted like this when they had nothing to do with its creation?

Can I patent KFC or Taylor Swift and fire them?

No, I think anything that's already been publicly demonstrated can't be patented, so you can't patent Taylor Swift then send her a cease and desist order.

[JimboToronto]

Which exchanges are decentralized?

OTC

[Ivor Biggun]

I'm totally fucked at Coinbase. Sitting on an obscene amount of fiat from a recent sale, but don't have access to my Funding/Withdrawal page. Something 'tarded like below is what I'm getting.

Sheeeeeeit.

Why on Earth didn't you do an OTC sale? There's no way I'd trust any exchange with amounts above a few grand. They're too prone to freeze you over AML shite.

How do you do an OTC sale? Do you have to go through itbit, or is there some other route that keeps coins out of an exchange?

[Torque]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

[gentlemand]

No, I think anything that's already been publicly demonstrated can't be patented, so you can't patent Taylor Swift then send her a cease and desist order.

So isn't that the entire crypto market? It's been running around with its knickers on its head in public for years, or are we talking the internal workings? In which case they can demonstrate they've been using them for years too.

I'll try with Taylor anyway.

[arklan]

I'm totally fucked at Coinbase. Sitting on an obscene amount of fiat from a recent sale, but don't have access to my Funding/Withdrawal page. Something 'tarded like below is what I'm getting.

Sheeeeeeit.

Why on Earth didn't you do an OTC sale? There's no way I'd trust any exchange with amounts above a few grand. They're too prone to freeze you over AML shite.

How do you do an OTC sale? Do you have to go through itbit, or is there some other route that keeps coins out of an exchange?

Hand them cash, face to face, they send you bitcoin. Or vice versa. Also they could give you a flash drive with a wallet on it.

[BitcoinNewsMagazine]

Welp, taking a vacation from cash trading since kraken is unusable. Withdrew all assets. Damn shame for everyone involved, but there we are.

I'm totally fucked at Coinbase. Sitting on an obscene amount of fiat from a recent sale, but don't have access to my Funding/Withdrawal page. Something 'tarded like below is what I'm getting.

Sheeeeeeit.

You won't lose any money just the delay (which is problem enough to deal with) however they may decide to close your account.

[jojo69]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

prior art

patent will not stand

[pfrtlpfmpf]

https://www.forbes.com/sites/jasonbloomberg/2017/12/09/seven-lies-bitcoin-fans-tell-themselves-and-anyone-else-who-will-listen/

 

I loughed so hard, it still hurts  

[NiceSoft12]

Coinbase is the worst. They hold and cancel tx as they please, all so they can profit as much as possible. It's no different from robbery.

[Ivor Biggun]

I'm totally fucked at Coinbase. Sitting on an obscene amount of fiat from a recent sale, but don't have access to my Funding/Withdrawal page. Something 'tarded like below is what I'm getting.

Sheeeeeeit.

Why on Earth didn't you do an OTC sale? There's no way I'd trust any exchange with amounts above a few grand. They're too prone to freeze you over AML shite.

How do you do an OTC sale? Do you have to go through itbit, or is there some other route that keeps coins out of an exchange?

Hand them cash, face to face, they send you bitcoin. Or vice versa. Also they could give you a flash drive with a wallet on it.

So it's like doing local bitcoins trades for millions of dollars? If I were bob I wouldn't be comfortable with sending hundreds of coins in return for a suitcase full of funny money. How would he know if it's real money in the suitcase, or if it's funny money?

[gentlemand]

So it's like doing local bitcoins trades for millions of dollars? If I were bob I wouldn't be comfortable with sending hundreds of coins in return for a suitcase full of funny money. How would he know if it's real money in the suitcase,or if it's funny money?

No. You go to a professional OTC broker who acts as the matchmaker and possibly the escrow too. There are plenty of them.

If I ever need to sell then that's straight where I'm heading. Sod exchanges.

[Torque]

https://www.forbes.com/sites/jasonbloomberg/2017/12/09/seven-lies-bitcoin-fans-tell-themselves-and-anyone-else-who-will-listen/

 

I loughed so hard, it still hurts  

Here, let me try:

Seven lies that Fiat-lovers tell themselves and anyone else who will listen

1. The dollar has value because it's backed by the Fed and the U.S. Govt.
2. A dollar today is as valued as a dollar 50 years ago.
3. Dollars aren't used for domestic or international crime, like at all. Nope.
4. Banks keep all of the dollars that you and I have in our accounts, in the actual bank. Each digital $ has a real physical dollar backing it 1:1. All those printed dollars are stored in actual vaults.
5. You can go and withdrawal all of your cash from your bank account any time you like, even if you have > $3000, or even $1M
6. When you store your money in a bank, no one can steal it from you.
7. When you store your money in a bank, it'll earn interest on your savings.

Shit, already up to seven, and I have like 100 more... ah well..

[RealMachasm]

So it's like doing local bitcoins trades for millions of dollars? If I were bob I wouldn't be comfortable with sending hundreds of coins in return for a suitcase full of funny money. How would he know if it's real money in the suitcase,or if it's funny money?

No. You go to a professional OTC broker who acts as the matchmaker and possibly the escrow too. There are plenty of them.

Are there a list of these brokers? Specifically in the UK?

[Ibian]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

[gentlemand]

Are there a list of these brokers? Specifically in the UK?

Try Coinfloor. Their OTC page says it's institutional only but they do private people too. Lots of people seem to have used them.

The two biggest are probably Genesis Trading, which is Barry Silbert's operation, and Cumberland Mining. They may well have GBP clients waiting too as it's all case by case. Genesis Trading only do trades above 25 BTC last time I checked.

Itbit does a lot of it too.

[TERA2]

A decentralized 'exchange' is either going to arrange in personal meeting or the trading of bank wiring details. There is no magical decentralized way of transmitting fiat or ensuring the security of the exchange.