"Anti-laundering efforts may not save Bitcoin exchanges' access to bank accounts"
The exchanges worldwide where the Bitcoin digital currency is bought and sold are scrambling to comply with U.S. anti-money laundering rules, but their efforts may be insufficient to ensure continued access to the banking services they need to operate. Earlier this week, New York-based BitFloor, one of the largest Bitcoin exchanges, halted trading operations and announced users' funds would be returned. "I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our U.S. bank account is scheduled to be closed and we can no longer provide the same level of [U.S. dollar] deposits and withdrawals as we have in the past," BitFloor founder Roman Shtylman said in a message posted on the exchange's website. Shtylman did not immediately respond to a Compliance Complete request for the name of the bank and the reason for the closure of the account. It is not uncommon however for U.S. banks to close accounts...
It's a nonsense to have your Bitcoin on a custodial exchange. It's like a bank that is saving your crypto. Not your keys, not your coins.
Most exchanges offer you a wallet where you can "hold" your bitcoin. The reality is that those are their bitcoin and not yours. You have to trust them that they will always let you have control over your part of their bitcoin The beauty of bitcoin is the fact that you can be your own bank. You don't need to depend on anyone. If you depend on an exchange, it's like having the money in a bank, where you depend on their promise that they will let you operate. If you really want to hold your bitcoin get a wallet where you hold your keys (12/24 word seed). Then you are truly holding bitcoin and no one will be able to have control over your funds. Edit: added some text.
MKCY token will be listed on Hoo Exchange on the 20th of September 2020. To trade the MKCY token on Hoo Exchange visit their website and download the app. Good news from HooExchange, save the date start trading and let's join with MARKACCY community #Markaccy #TokenSale #ICO #bitcoin #ethereum
Hey guys, please contact your Exchange if u don't want to see $BCH become $BTAX by implementing Infrastructure Funding Plan and taking 5% of all block reward and transaction fees for few selected developers starting May 15th. Ask them to change their client from @Bitcoin_ABC to @BitcoinCashNode as they otherwise will support this fundamental change if - only - 2.5% of all SHA256 Bitcoin miners vote for it! This would damage their business as few #BitcoinCash customers support this drastic change and do not want Bitcoin Cash name and $BCH ticker be stolen yet again, just check btc & read.cash, for example: https://www.reddit.com/btc/comments/f670m3/understand_whats_at_stake_personal_remarks_on_how/?utm_medium=android_app&utm_source=share Also made video about it: https://youtu.be/O7PV3MZoG08 Here interview with @im_uname who is leading Tax resistance and released new client "Bitcoin Cash Node" that is fork of BitcoinABC client but without IFP. Not only a technical Mastermind but also high morals & nice character: https://youtu.be/qTEE5rauRQg
Bitcoin going to 0$ during a price crash will be saved by exchanges?
Nowadays every Bitcoin price drop is a reminder of ‘Black Thursday.’ On March 12, the price of the largest cryptocurrency in the market dropped by over 50 percent to a 12-month low and marked the biggest single-day drop over seven years. Despite the severity and the swiftness of the drop, it was not remembered as […]
Гражданин Якобсен снова наводит панику на крипторынке : Курс Биткоина стремится к нулю, его уже не спасти
Курс биткоина к доллару продолжает обновлять минимумы год, теряя более 80% своей стоимости за 2018 год и, попутно, увлекая за собой на дно весь рынок криптовалют. И пока криптоэнтузиасты прогнозируют новое ралли биткоина до $333 000 к 2021 году (это последний из недавних прогнозов Бобби Ли), влиятельные банки вновь заговорили о крахе Bitcoin. Главный аналитик датского инвестиционного банка Saxo Bank Стин Якобсен заявил, что в ближайшие месяцы биткоин продолжит падение и постепенно достигнет нуля. Об этом он рассказал во время презентации «шокирующих предсказаний» на 2019 год. По мнению Якобсена, биткоин — крайне неэффективный инструмент. Во-первых, потому что его производство — майнинг — требует огромных энергетических затрат. Во-вторых, из-за отторжения криптовалют официальной финансовой системой.
«Я считаю, что биткоин в следующем году сначала достигнет своей базовой отметки в $1000, а потом упадёт до нуля. В целом у криптовалют есть будущее, но только в том случае, если эмиссионная инициатива будет на стороне правительства. Кроме того, какие-то криптовалюты и технология блокчейн могут быть использованы для администрирования глобального налога или госдолга. Блокчейн, который не очень подходит страновой экономике, будет нужен гражданину мира», - говорит Стин Якобсен.
В прошлом году Стин Якобсен верно предсказал, что в 2018 году биткоин резко взлетит до неожиданных высот, а затем начнет безудержное падение. В первые дни декабря капитализация биткоина упала почти в 6 раз — с $830 до $135 миллиардов. Сейчас капитализация первой криптовалюты составляет $62 млрд., при курсе $3 580 4 our English speaking buddies Mr Jacobsen again going panic on the cryptomarket: Bitcoin rate tends to zero, it can not be saved. Bitcoin exchange rate to the dollar continues to update the minimum of the year, losing more than 80% of its value for 2018 and, along the way, dragging the entire cryptocurrency market to the bottom. And while crypto enthusiasts predict a new Bitcoin rally to $ 333,000 by 2021 (this is the last of the recent forecasts by Bobby Lee), influential banks have again started talking about the collapse of Bitcoin. The main analyst of the Danish investment bank Saxo Bank, Steen Jacobsen, said that in the coming months, Bitcoin will continue to fall and gradually reach zero. He told about this during the presentation of “shocking predictions” for 2019. According to Jacobsen, bitcoin is an extremely inefficient tool. Firstly, because its production - mining - requires huge energy costs. Secondly, due to the rejection of cryptocurrency by the official financial system. “I believe that next year Bitcoin will first reach its base mark of $ 1000, and then fall to zero. In general, cryptocurrency has a future, but only if the issuing initiative is on the side of the government. In addition, some kind of cryptocurrency and blockchain technology can be used to administer a global tax or government debt. The blockchain, which is not very suitable for the country’s economy, will be needed by a citizen of the world, ”says Steen Jacobsen. Last year, Steen Jacobsen correctly predicted that in 2018, Bitcoin will soar to unexpected heights, and then begin an unrestrained fall. In the first days of December, Bitcoin's capitalization fell almost 6 times - from $ 830 to $ 135 billion. Now the capitalization of the first cryptocurrency is $ 62 billion, with a rate of $ 3,580. Share your thoughts about future of crypto under this post :) Делитесь вашими мыслями относительно будущего рынка крипты под постом)
The argument that Bitcoin saves the user from fiat inflation is a "Store of Value" argument. There already exists many far superior stores of value in S&P 500/Real Estate/Gold. The only reasonable argument for Bitcoin as a "Means of Exchange" is that it saves the user from extortion (censorship).
11-23 14:33 - 'How to save Bitcoin on transfers between cryptocurrency exchanges?' (self.Bitcoin) by /u/holderlab removed from /r/Bitcoin within 1580-1590min
''' Cryptocurrencies have become quite commonplace for many people. Every day, tens of thousands of transfers are made between wallets and exchanges around the world. However, few of us think about how much money is spent on paying commissions for transfers. In fact, some transactions lose a significant amount. For several months, the user can safely lose the amount that would be enough to buy a new TV or washing machine.Therefore, it will not be out of place for everyone to know how to save money on such operations. There are exchanges that charge 0.001 - 0.002 BTC (9 - 18 US dollars) for the transfer. There are those who ask a little less. For example, Poloniex asks for only 0.0005 BTC (about $ 5). However, having made 10 or 20 transfers, the amount ceases to seem so insignificant. Therefore, we offer a good option that will make transactions almost free.
How to save my BTC?
First, you need to choose some alternative currency for making transfers. It must meet the following criteria:
It should be low cost. The transfer fee will be lower when it will be possible to purchase more coins for the money available;
On two exchanges selected by the user, there should be a minimum difference between the price of buy and sell orders;
It is necessary to pay attention to the trading volume. The larger the number indicated for buying and selling, the less the course is subject to fluctuations, as a result of which the probability of a sharp change in the situation in the unnecessary direction will be lower.
The best coins to circumvent high commissions are Dogecoin and Bytecoin. Both meet the above criteria, but Dogecoin transactions are confirmed much faster.
DOGE is a fork of Litecoin. In technical terms, there were practically no changes, but in terms of marketing, both cryptocurrencies are significantly different from each other. The following features of this coin can be distinguished:
Block formation takes only 1 minute (LTC - 2.5 times longer, BTC - 10 times longer);
For the transaction you need to pay only 2 coins, regardless of the amount of transfer (this is only about $ 0.0047 or 5.1 * 10 -7 BTC);This coin has all the attributes of popular cryptocurrencies (anonymity, decentralization, advanced security system).
How it works?
As an example, you can exchange BTC for DOGE on some exchange, send them to another exchange, and then transfer the coins to your Poloniex wallet, paying a commission (unlike direct transfer). You can give an example of a real case with detailed numbers: user N on the Bittrex exchange changes 0.01023405 BTC to DOGE, after which he sends them to the Poloniex exchange and receives 0.01019278 BTC. The final commission for the transfer came out 0.00004127 BTC, which is 24 times more profitable than directly transferring BTC between exchanges. You also need to add a fee for transferring to a cold wallet (a little more than one dollar), but even with this in mind, the difference still remains noticeable. And one moment. After exchanging cryptocurrency for DOGE and transferring them to a wallet or exchange, these coins need to be sold. There are a couple of options: sell them at the current purchase or sale price. Here everyone must choose their own. Sales price orders are usually sold in less than half a day. In addition, it would simply be wrong not to mention another interesting fact about this wonderful coin. If you carefully look at the graph from Coinmarketcap of the DOGE price change, you can find one interesting detail. During the day, there may be a short-term sharp increase in the value of this asset. It is believed that due to the abnormally low commission, the coin is used on a large scale in arbitration operations, so by catching the right moment, you can also earn on DOGE. [Doge chart (Coinmarketcap)]1
A few words about Bytecoin. It was created in 2012 on the same algorithm as Monero. This provides the coin with a high level of anonymity and privacy. The cost of one asset is also low - $ 0,0004. Transactions are processed every 120 seconds. It’s simply not possible to track payments. Of course, Bytecoin is not as popular as DOGE, but you can take a closer look at it as an alternative. Today we looked at the best way to save money when transferring crypto assets between exchanges or wallets. Experienced traders most likely have their own tricks that help save the maximum amount of money, but this option is now seen as the most optimal, universal and practical. Currently, we are preparing to launch the [holderlab.io]2 service, which allows us to optimize the cryptocurrency portfolio. The service allows you to conduct a comprehensive assessment of the crypto portfolio using the correlation matrix and the effective border, as well as configure automatic portfolio rebalancing. Thanks for attention ''' How to save Bitcoin on transfers between cryptocurrency exchanges? Go1dfish undelete link unreddit undelete link Author: holderlab 1: prev**w.redd.*t/sul458f**8*41.jp*?**dt*=1212&***;*ormat=p*p*&*mp;aut*=w***&*=9e*4*c5b*d425191c**a*0c77e35d32f993**895 2: www**olderl*b*io/ Unknown links are censored to prevent spreading illicit content.
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