Bitcoin Forum
September 21, 2019, 04:39:51 PM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: US Citizen should demand legal btc derivative exchange  (Read 162 times)
samdan777712
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
June 21, 2019, 06:40:42 AM
 #1

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.
1569083991
Hero Member
*
Offline Offline

Posts: 1569083991

View Profile Personal Message (Offline)

Ignore
1569083991
Reply with quote  #2

1569083991
Report to moderator
1569083991
Hero Member
*
Offline Offline

Posts: 1569083991

View Profile Personal Message (Offline)

Ignore
1569083991
Reply with quote  #2

1569083991
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1569083991
Hero Member
*
Offline Offline

Posts: 1569083991

View Profile Personal Message (Offline)

Ignore
1569083991
Reply with quote  #2

1569083991
Report to moderator
1569083991
Hero Member
*
Offline Offline

Posts: 1569083991

View Profile Personal Message (Offline)

Ignore
1569083991
Reply with quote  #2

1569083991
Report to moderator
exstasie
Hero Member
*****
Offline Offline

Activity: 1302
Merit: 701


View Profile
June 21, 2019, 08:51:36 AM
 #2

I don't disagree, but we're going to have a hard time convincing people (and Congress) that high leverage trading on volatile, speculative 24/7 markets is a good thing. That's an uphill battle!

We can keep doing the VPN thing for the time being, but if this FATF shit is really happening, brokers implementing full KYC will put an end to that. Undecided

samdan777712
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
June 21, 2019, 05:12:08 PM
 #3

its complete bs Crude oil is 100x or 50x futures in america and it moves back and forth 2 or 3 percent every morning. It's just as volatile as bitcoin lol. we are being scammed by banks
exstasie
Hero Member
*****
Offline Offline

Activity: 1302
Merit: 701


View Profile
June 21, 2019, 07:54:57 PM
 #4

its complete bs Crude oil is 100x or 50x futures in america and it moves back and forth 2 or 3 percent every morning. It's just as volatile as bitcoin lol. we are being scammed by banks

Companies are scared to offer these products to Americans. GDAX/Coinbase tried to offer margin trading for a short time but stopped after a flash crash annihilated outstanding positions. They refunded all the losses out of fear of lawsuits and scrapped margin trading entirely.

Kraken seems like the best legitimate platform which allows US traders to use margin. Leverage maxes out at 5x though, so you certainly can't gamble like on Bitmex. 5x is fine for me though. It's rare that I use more than that anyway.

Baofeng
Hero Member
*****
Offline Offline

Activity: 896
Merit: 559


View Profile
June 21, 2019, 08:05:14 PM
 #5

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.

Demand to who? Congress? They won't listen as f***. I know, everyone is conspiring about crypto in the US but what can we do? They still have the control and as much as I agree with you, at this point, we can't do anything but to ride the flow with them until someone lead the way, just saying.

..bustadice..         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                     ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
           ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
......Play......
metalglowd
Member
**
Offline Offline

Activity: 518
Merit: 10

ETERBASE | TRADE WITH NEGATIVE FEES


View Profile WWW
June 21, 2019, 10:24:13 PM
 #6

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.

In fact this is not difficult to do, only regulations that prohibit U.S citizens from doing KYC, especially those related to crypto are prohibited. This might cause exchange owners to not violate the rules.

ETERBASE | TRADE WITH NEGATIVE FEES
▬ xbase ▬▬▬■▌[SIGN UP NOW]▐■▬▬▬ xbase ▬
ANN THREAD   |    TELEGRAM    |    FACEBOOK    |    TWITTER
samdan777712
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
June 22, 2019, 12:20:35 AM
 #7

gdax coinbase is clearly incompetent. Bitmex and deribit don't have flash crashes or issues with bandwidth deviations.
el kaka22
Legendary
*
Offline Offline

Activity: 1820
Merit: 1053


Crypto-Games.net: Multiple coins, multiple games


View Profile
June 23, 2019, 05:40:12 PM
 #8

Derivatives is the only reason why we are in this mess to begin with. Bankers and investors all like keeps on trading on stuff that is already traded on and they are making double trading on non-existing money and when they lose money there is nothing they have lost at the other hand creating a whole gap.

Bitcoin itself is tradeable and people can buy and sell bitcoin directly, so having another bet on top of bitcoin trading like leverage but worse is useless, why would anyone want to bet on bitcoin price instead of directly buying bitcoin. You are literally saying "bitcoin will go up" and put your money into trading that bet instead of actually buying bitcoin and waiting for it to go up. Those are the small but combined to be huge problems of our financial world right now.


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
exstasie
Hero Member
*****
Offline Offline

Activity: 1302
Merit: 701


View Profile
June 24, 2019, 08:18:37 AM
 #9

Derivatives is the only reason why we are in this mess to begin with. Bankers and investors all like keeps on trading on stuff that is already traded on and they are making double trading on non-existing money and when they lose money there is nothing they have lost at the other hand creating a whole gap.

Farmers should be able to sell futures for their yields. Bitcoin miners should be able to sell futures for their BTC. Speculators should be able to freely buy and sell commodity futures. In fact this speculation is good. It provides liquidity for the producers who provide deliverables to the market.

Derivatives aren't the problem. The 2008 crisis was a result of reckless subprime lending practices and securitization of bad debts backing bank balance sheets.

Bitcoin derivatives themselves are not a problem. The problems begin with too much leverage (such that positions dwarf actual market size which can lead to real losses for depositors) and collateral commingling/re-pledging, which is effectively fractional reserve.

bitgolden
Legendary
*
Offline Offline

Activity: 1302
Merit: 1033


LiveCoin - is a modern stock exchange


View Profile
June 24, 2019, 09:39:35 AM
 #10

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.
I think the issue with your government is not the exchange itself, but for the crypto currencies that will be traded on the exchange which we know that it will be hard for them to legalize it now, so you guys just need to be patient and look for other means of being able to trade your FIAT/ CRYPTOCURRECNIES.

For you to know that they have no problem with exchanges, why are FOREX exchanges still functioning perfectly well, without any form of attack from the congress, because they are able to control such exchange through regulation, but even if they legalize crypto exchange, they will still not be able to control projects on the exchange.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
guoyu78
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 541



View Profile
June 25, 2019, 05:53:43 AM
 #11

I don't disagree, but we're going to have a hard time convincing people (and Congress) that high leverage trading on volatile, speculative 24/7 markets is a good thing. That's an uphill battle!

We can keep doing the VPN thing for the time being, but if this FATF shit is really happening, brokers implementing full KYC will put an end to that. Undecided
Thank God there are always shortcuts to everything, and the shortcut to still being able to trade on these exchanges they refuse to legalize is just to make use of a working VPN, but how long will the citizens continue to hide from what is benefiting them and also making U.S economy grow, because any money U.S citizen makes through crypto is still being converted into Fiat and back to the traditional bank, so they should not see this thing called crypto as threat to them.

I hope they change their mind though and at least give 50 percent support for crypto so that there can be a legalized exchange.
jostorres
Hero Member
*****
Offline Offline

Activity: 966
Merit: 506


LiveCoin - is a modern stock exchange


View Profile
July 03, 2019, 02:53:41 PM
 #12

We have so much stuff that we need to achieve that I am not sure if a legal bitcoin derivative exchange is something we really need right now. Of course, competition is great and something that is legal and also do stuff like bitmex offers us would make bitmex and this new place work harder to be better than each other which would only give us the chance to have a better market.

However, in the end we need so much stuff including and especially the adoption rate going up that I think more places that legally accept bitcoin should be the priority for us then derivative market. There is no reason why we can't have both of them but channeling our focus on just one would make bitcoin just a financial trading option and not a currency like it should have been since the start.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
exstasie
Hero Member
*****
Offline Offline

Activity: 1302
Merit: 701


View Profile
July 03, 2019, 08:53:05 PM
 #13

We can keep doing the VPN thing for the time being, but if this FATF shit is really happening, brokers implementing full KYC will put an end to that. Undecided
Thank God there are always shortcuts to everything, and the shortcut to still being able to trade on these exchanges they refuse to legalize is just to make use of a working VPN, but how long will the citizens continue to hide from what is benefiting them and also making U.S economy grow, because any money U.S citizen makes through crypto is still being converted into Fiat and back to the traditional bank, so they should not see this thing called crypto as threat to them.

I hope they change their mind though and at least give 50 percent support for crypto so that there can be a legalized exchange.

What the OP wants is high leverage, not just a legalized exchange. There are plenty of legitimate spot exchanges to use already but legal derivatives markets are very limited. Basically there is only CME cash-settled futures which has 37% maintenance margin requirement. That's 2.7x maximum leverage. That's tiny compared to what Bitmex offers.

What they view as a threat is traders depositing, trading, and withdrawing crypto without paying any taxes on it. They want a strict system of financial reporting with licensed, whitelisted services. Bitmex doesn't fit that paradigm.

Reid
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 543

English is a language.Not a measure of intellignce


View Profile
July 03, 2019, 08:58:22 PM
 #14

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.

Demand to who? Congress? They won't listen as f***. I know, everyone is conspiring about crypto in the US but what can we do? They still have the control and as much as I agree with you, at this point, we can't do anything but to ride the flow with them until someone lead the way, just saying.

Agree.
Or a new leader will take place.  Grin
A senator will be fine though. In Philippines they have Manny Pacquiao supporting crypto currencies.
All the US can offer is those shi**y stable coins which doesnt even help. You cannot invest in it for it wont even move. It is just the same value as the USD.
VPN is the only solution but it will be a good thing if you could do it freely without paying more for VPN's.

They are still hungry for money and that is why they dont want change. If a sudden change comes into fruition then how can they steal?  Grin

DarkDays
Legendary
*
Offline Offline

Activity: 1148
Merit: 1098


Crypto-Games.net: Multiple coins, multiple games


View Profile
July 04, 2019, 03:20:15 PM
 #15

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.
I think your wish was granted.
https://medium.com/@erisxinsights/erisx-granted-derivatives-clearing-organization-license-for-physically-delivered-digital-asset-66e40e653053

While I've personally not used ErisX trading platform myself, I am sure it must have had a serious backing to get this kind of approval that too within US.

That being said, do your research as there are plenty of regulated platforms that still offer a trash service.


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
exstasie
Hero Member
*****
Offline Offline

Activity: 1302
Merit: 701


View Profile
July 04, 2019, 07:38:10 PM
 #16

thats it. We deserve our own legal version of bitmex. Congress is bs. We should kick scream lobby fire impeach etc. Wall street classist crap intentionally wedging us out the market, giving the money to their buddy buddy to keep it all limited to banks and accredited investors.
I think your wish was granted.
https://medium.com/@erisxinsights/erisx-granted-derivatives-clearing-organization-license-for-physically-delivered-digital-asset-66e40e653053

Correct me if I'm wrong, but I don't believe there will be leverage available on ErisX BTC futures markets, at least for the foreseeable future. There's nothing explicit in ErisX's press release, but that's my impression from the language from the CFTC.

Anything regulated by the CFTC or SEC is going to allow significantly less leverage than Bitmex, especially for non-accredited investors.

Harlot
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 603



View Profile
July 04, 2019, 08:53:54 PM
 #17

If Bitcoin ETFs are having a hard time to pass with SEC with all their delays and extensions what's made you think that theybwill be more open with a derivative exchange especially when the congress is involve, this people might not even know what you are talking about in the first place. The only way to change things right now is to wait for another election and elect an official/s that are more open to the crypto industry best if they are an advocate of it. It's either that or they see for themselves that they are being left behind by other countries in terms of their crypto industry.

dothebeats
Legendary
*
Offline Offline

Activity: 1946
Merit: 1132


Thank you, Kary Mullis


View Profile
July 05, 2019, 11:50:38 PM
 #18

This would be a long and arduous journey. Lobbying for something that the government obviously don't like in the first place is like trying to remove oil's immisicibility properties with water, and finally joining them together. I don't think that they would reconsider in the first place, let alone look into the problem really, as even the SEC won't get ETFs confirmed and accepted and it took 3 long years before we get someone in the helm that actually does something for the welfare of crypto--and that isn't enough still.




.




  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄████████▀▀▀▀███▄
███████▀     ████
███████   ███████
█████        ████
███████   ███████
▀██████   ██████▀
  ▀▀▀▀▀   ▀▀▀▀▀

  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄██▀▀▀▀▀▀▀▀▀▀▀██▄
██    ▄▄▄▄▄ ▀  ██
██   █▀   ▀█   ██
██   █▄   ▄█   ██
██    ▀▀▀▀▀    ██
▀██▄▄▄▄▄▄▄▄▄▄▄██▀
  ▀▀▀▀▀▀▀▀▀▀▀▀▀

            ▄▄▄
█▄▄      ████████▄
 █████▄▄████████▌
▀██████████████▌
  █████████████
  ▀██████████▀
   ▄▄██████▀
    ▀▀▀▀▀

    ██  ██
  ███████████▄
    ██      ▀█
    ██▄▄▄▄▄▄█▀
    ██▀▀▀▀▀▀█▄
    ██      ▄█
  ███████████▀
    ██  ██




               ▄
       ▄  ▄█▄ ▀█▀      ▄
      ▀█▀  ▀   ▄  ▄█▄ ▀█▀
███▄▄▄        ▀█▀  ▀     ▄▄▄███       ▐█▄    ▄█▌   ▐█▌   █▄    ▐█▌   ████████   █████▄     ██    ▄█████▄▄   ▐█████▌
████████▄▄           ▄▄████████       ▐███▄▄███▌   ▐█▌   ███▄  ▐█▌      ██      █▌  ▀██    ██   ▄██▀   ▀▀   ▐█
███████████▄       ▄███████████       ▐█▌▀██▀▐█▌   ▐█▌   ██▀██▄▐█▌      ██      █▌   ▐█▌   ██   ██          ▐█████▌
 ████████████     ████████████        ▐█▌    ▐█▌   ▐█▌   ██  ▀███▌      ██      █▌  ▄██    ██   ▀██▄   ▄▄   ▐█
  ████████████   ████████████         ▐█▌    ▐█▌   ▐█▌   ██    ▀█▌      ██      █████▀     ██    ▀█████▀▀   ▐█████▌
   ▀███████████ ███████████▀
     ▀███████████████████▀
        ▀▀▀█████████▀▀▀
FIND OUT MORE AT MINTDICE.COM
MTL4
Newbie
*
Offline Offline

Activity: 45
Merit: 0


View Profile
July 06, 2019, 12:13:24 AM
 #19

Not sure this will ever happen, heck they won't even repeal FACTA which is obviously having some pretty serious consequences world-wide.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!