Pyro!
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September 06, 2018, 08:53:26 AM |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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JollyGood
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September 06, 2018, 01:20:16 PM |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
Rubbish customer services, lots of chasing around to get crypto returned after transactions fail. This thread was enough to make me feel sure never to use Shapeshift. I prefer Changelly, great service. |
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pawel7777
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September 06, 2018, 01:43:29 PM
Last edit: September 06, 2018, 01:55:36 PM by pawel7777 |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
Not having to register and create account was Shapeshift's key feature. Without that, they'll lose most of the appeal and will become not much different from any other crypto exchange out there. If they made such decision just to be on the 'safe side' of unclear regulations, they should make sure it's absolutely necessary.
Edit: source: https://news.bitcoin.com/shapeshift-membership-user-information/Voorhees described five levels of membership. “Level 1 is available now, and is free and open to everyone,” he confirmed. The transaction limit for this level is $10,000 with a $50,000 monthly cap on volume.
“Levels 2-5 will be available later, and enable benefits on higher amounts of volume,” Voorhees added. These levels “are optional and require FOX tokens,” standard Ethereum-based tokens “which will have a number of features and functions when they become available,” Shapeshift’s website clarifies. Oh, they're creating tokens now...
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JollyGood
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September 06, 2018, 02:01:56 PM |
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"FOX" tokens? What are they supposed to be?
If they are now going to allow registration, meaning "send your ID to us" in order to exchange larger funds then it means they will alienate a large part of their customer base.
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pawel7777
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September 06, 2018, 02:14:11 PM |
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"FOX" tokens? What are they supposed to be?
Everyone and their mother are issuing own tokens nowadays. It's the easiest way to make money in the cryptoworld. Weirdly enough, there already are "Fox Trading" tokens, with FOXT ticker. Good luck not getting confused. If they are now going to allow registration, meaning "send your ID to us" in order to exchange larger funds then it means they will alienate a large part of their customer base.
From the article linked above I understand that for low levels accounts you'd only need to submit basic info, probably just name, email and country. |
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Financisto
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September 10, 2018, 03:26:49 AM |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
Not having to register and create account was Shapeshift's key feature. Without that, they'll lose most of the appeal and will become not much different from any other crypto exchange out there. If they made such decision just to be on the 'safe side' of unclear regulations, they should make sure it's absolutely necessary.
Edit: source: https://news.bitcoin.com/shapeshift-membership-user-information/Voorhees described five levels of membership. “Level 1 is available now, and is free and open to everyone,” he confirmed. The transaction limit for this level is $10,000 with a $50,000 monthly cap on volume.
“Levels 2-5 will be available later, and enable benefits on higher amounts of volume,” Voorhees added. These levels “are optional and require FOX tokens,” standard Ethereum-based tokens “which will have a number of features and functions when they become available,” Shapeshift’s website clarifies. Oh, they're creating tokens now...
RIP
ShapeShift
(☆ 2014 ⚰ 2018) Thank you for resisting while you could... Your efforts will be remembered in the future. We'll miss you so much... P.S. The king is dead (instant exchanges), long live the king (decentralized exchanges)! |
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JollyGood
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September 10, 2018, 08:10:40 AM |
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"FOX" tokens? What are they supposed to be?
Everyone and their mother are issuing own tokens nowadays. It's the easiest way to make money in the cryptoworld. Weirdly enough, there already are "Fox Trading" tokens, with FOXT ticker. Good luck not getting confused. If they are now going to allow registration, meaning "send your ID to us" in order to exchange larger funds then it means they will alienate a large part of their customer base.
From the article linked above I understand that for low levels accounts you'd only need to submit basic info, probably just name, email and country. This token business is just nonsense. As you said every person and their mother are trading tokens (airdrops, giveaways, promotions etc) as a way to attract users when having updates to their projects. |
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NiceDev
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September 14, 2018, 06:23:37 AM |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
Not having to register and create account was Shapeshift's key feature. Without that, they'll lose most of the appeal and will become not much different from any other crypto exchange out there. If they made such decision just to be on the 'safe side' of unclear regulations, they should make sure it's absolutely necessary.
Edit: source: https://news.bitcoin.com/shapeshift-membership-user-information/Voorhees described five levels of membership. “Level 1 is available now, and is free and open to everyone,” he confirmed. The transaction limit for this level is $10,000 with a $50,000 monthly cap on volume.
“Levels 2-5 will be available later, and enable benefits on higher amounts of volume,” Voorhees added. These levels “are optional and require FOX tokens,” standard Ethereum-based tokens “which will have a number of features and functions when they become available,” Shapeshift’s website clarifies. Oh, they're creating tokens now...
I liked Shapeshift just because it required no registration. Sad to hear that they go to change it. It makes Shapeshift the same as all other centralized exchanges. Too bad ~ |
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eagle10
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September 14, 2018, 07:03:17 AM |
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The Founder and CEO of ShapeShift, Erik Voorhees, has announced that the exchange is launching a membership program and soon, anonymous trading will not be available. For years, ShapeShift has been an easy way for cryptocurrency users to convert cryptocurrency into other types of cryptocurrency.
Not having to register and create account was Shapeshift's key feature. Without that, they'll lose most of the appeal and will become not much different from any other crypto exchange out there. If they made such decision just to be on the 'safe side' of unclear regulations, they should make sure it's absolutely necessary.
Edit: source: https://news.bitcoin.com/shapeshift-membership-user-information/Voorhees described five levels of membership. “Level 1 is available now, and is free and open to everyone,” he confirmed. The transaction limit for this level is $10,000 with a $50,000 monthly cap on volume.
“Levels 2-5 will be available later, and enable benefits on higher amounts of volume,” Voorhees added. These levels “are optional and require FOX tokens,” standard Ethereum-based tokens “which will have a number of features and functions when they become available,” Shapeshift’s website clarifies. Oh, they're creating tokens now...
I liked Shapeshift just because it required no registration. Sad to hear that they go to change it. It makes Shapeshift the same as all other centralized exchanges. Too bad ~ Yes, I feel your sentiments too. In the early days, I use shapeshift to exchange my altcoins but now, with so many exchanges with low fees than shapeshift, I stopped using it. Beside, going to centralized from decentralized is not a good idea because cryptocurrency became popular by being decentralized. |
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JollyGood
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September 14, 2018, 09:17:21 AM |
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I liked Shapeshift just because it required no registration. Sad to hear that they go to change it.
It makes Shapeshift the same as all other centralized exchanges. Too bad ~ Why are Shapeshift going down this route making customers go through registration? |
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pedrog
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September 14, 2018, 09:30:09 AM |
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I liked Shapeshift just because it required no registration. Sad to hear that they go to change it.
It makes Shapeshift the same as all other centralized exchanges. Too bad ~ Why are Shapeshift going down this route making customers go through registration? Compliance. |
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JollyGood
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September 14, 2018, 09:34:54 AM |
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I liked Shapeshift just because it required no registration. Sad to hear that they go to change it.
It makes Shapeshift the same as all other centralized exchanges. Too bad ~ Why are Shapeshift going down this route making customers go through registration? Compliance. Compliance is based on legal requirements of the country their company is registered. I thought they were registered in Latvia. What would happen if they "moved" to Costa Rica? |
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crypt_farid
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September 14, 2018, 02:07:35 PM |
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My most respectuful hats off for ShapeShift, for being solid pioneers in this wonderful experiment. It is a shame, but at the same surprising it didnt happen sooner. As a centralised company they are accountable. Another argument in favour for DEX- I would much rather see ShapeShift shift into a DEX than this though. I hope they find a better model. The higher fees vs convenience was absolutely justified.
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pawel7777
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September 14, 2018, 08:48:15 PM |
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...
Compliance is based on legal requirements of the country their company is registered. I thought they were registered in Latvia. What would happen if they "moved" to Costa Rica?
Nope, compliance is based on legal requirements of every country they provide their services to. You could be registered in Latvia, but if you provide services to customers from US, you have to comply with US law. That's why many gambling sites, ICO, exchanges are inaccessible from US. You could bypass that by blocking ip of the countries you're not compliant with, but that's not good for business and doesn't 100% protect you from prosecution. |
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Financisto
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September 15, 2018, 04:29:24 AM
Last edit: September 30, 2018, 08:39:34 AM by Financisto |
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I liked Shapeshift just because it required no registration. Sad to hear that they go to change it.
It makes Shapeshift the same as all other centralized exchanges. Too bad ~ Why are Shapeshift going down this route making customers go through registration? Compliance. That's what I call it... BTW we already reached the 21st century, we should have an "Economic secularism" by now (a separation of state from p2p voluntary/peaceful business/exchanges)... Where is it? Nowhere to be found yet???... Only with de facto "Economic secularism" true individual liberty is achievable... |
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rtwspark
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September 17, 2018, 08:01:53 AM |
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Shapeshift requiring membership is another setback for those who claim decentralization and anonymization is the way forward. It's very hard to do business legally and transact for global customers without having a central entity collecting account information.
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jerry0
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September 18, 2018, 08:04:57 AM |
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HI all got a question. I used shapeshift a while back when i traded btc for litecoin and vice versa. I recalled when i did this, i had to pay a bigger fee compared to if i used an exchange. Can someone tell me if this fee is based on shapeshift fee or the coin price. Because i did recall shapeshift seems to list the prices for their coins such as btc, litecoin etc... a bit lower than the exchanges. Can someone confirm this? I recalled everytime i traded bitcoin for litecoin or vice versa... such as okay x btc get you x litecoin and vice versa... it was like 1.5 to 2 percent fee... is that about right? i recalled i said if i used an exchange, i would get more litecoin than using shapeshift. But is this fee due to shapeshift itself? I googled and it said miner fee so this is not related to the prices of coins on shapeshift? Like if btc was 5k on coinbase/bittrex, is it almost always lower on shapeshift? I havent used it in a while and like to know this.
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pawel7777
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September 18, 2018, 10:11:49 AM |
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HI all got a question. I used shapeshift a while back when i traded btc for litecoin and vice versa. I recalled when i did this, i had to pay a bigger fee compared to if i used an exchange. Can someone tell me if this fee is based on shapeshift fee or the coin price. Because i did recall shapeshift seems to list the prices for their coins such as btc, litecoin etc... a bit lower than the exchanges. Can someone confirm this? I recalled everytime i traded bitcoin for litecoin or vice versa... such as okay x btc get you x litecoin and vice versa... it was like 1.5 to 2 percent fee... is that about right? i recalled i said if i used an exchange, i would get more litecoin than using shapeshift. But is this fee due to shapeshift itself? I googled and it said miner fee so this is not related to the prices of coins on shapeshift? Like if btc was 5k on coinbase/bittrex, is it almost always lower on shapeshift? I havent used it in a while and like to know this.
They don't charge you any exchange fee per se, but they do make profit on exchange rate differences. So always make sure you're happy with offered rate before proceeding. There are also fixed miners' fee involved, which seem a bit too high. Currently for bitcoin it's set at BTC0.00025, more here: https://info.shapeshift.io/miner-fee/ |
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BayAreaCoins
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September 25, 2018, 10:43:51 PM |
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They charge a fee... a big one at that. It seems almost criminal to lie and deceive customers saying Shapeshift says "no fees".
Fee, mark up or whatever you want to call it.
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NiceDev
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October 05, 2018, 08:52:41 AM |
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Shapeshift requiring membership is another setback for those who claim decentralization and anonymization is the way forward. It's very hard to do business legally and transact for global customers without having a central entity collecting account information.
Who can list out what kind of personal information exactly they require for the membership? I tried to look at the membership page but it is split into multiple sections, so can't know what exactly required before I proceed. |
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