Thread: RIP Bitcoin

This experience demonstrates that tech is no better than its user. I've had to wait as less as <2 minutes for a transfer to be received and processed in the free and depraved west, while the Chinese struggle to meet 8 hours.

I guess that makes me a racist.

Originally Posted by baldrick

If you have to ask, the answer is no

I thought the a9 was bitmains latest BTC miner?

Is the company legit. Do you think you could configure correctly

How much hash power with what algo

WhatToMine - Crypto coins mining profit calculator compared to Ethereum

Not me, blimey not me, I thought they set it all up and punter pays and it goes like whirrr...

Originally Posted by jabir

Just close their banks accounts, without giving them the regulatory option to get their act together? That sounds fair and just.

And who gets their client funds that can't be cashed out?

they have something like 30 days to liquidate sub-accounts, and they are forced to send out bank cashier checks for each account holders (if their address info are correctly updated)

I have seen it happened to asset managers that got banned by the US treasury, it's a very simple procedure, with a nice little guidebook to operate everything smoothly

Originally Posted by Mr Earl

I think there is merit to the 1 million prediction for 2020.

What's gonna happen when half the holders go to cash out, but there's not enough money in the World to pay them?

Originally Posted by jabir

Just close their banks accounts, without giving them the regulatory option to get their act together? That sounds fair and just.

And who gets their client funds that can't be cashed out?

that's why binance just deals with crypto: no need to work with fiat/banks.

Originally Posted by jabir

I pay KuCoin for the withdrawal, it is up to them to ensure it is expedited in a timely manner. No excuses, >7 hours and counting should be enough even for a Chinese outfit.

not sure why you used Kucoin (hadn't even heard of it).

my transfer times back and forth between cex.io and binance have been fast.

Originally Posted by Luigi

What's gonna happen when half the holders go to cash out, but there's not enough money in the World to pay them?

Easy, carry on as before, print more.

Originally Posted by Luigi

What's gonna happen when half the holders go to cash out, but there's not enough money in the World to pay them?

What is happening is BTC is becoming the gold standard, the foundation of all crypto.

Mind ya there will be currencies directly based on gold or whatever, but the issue will always be trust.

The Bitcoin algorithm is something everyone can trust without question.

This kind of trust is what is truly the game changer.

interview with binance ceo:



https://www.bloomberg.com/news/artic...rs-in-one-hour

https://www.bloomberg.com/news/artic...eptic-in-chief

SEC's Clayton looks at cryptocurrency exchanges
Securities and Exchange Commission Chairman Jay Clayton has turned his regulatory attention on domestic and offshore bitcoin exchanges not registered with the SEC. "These platforms that these things trade on, they are very easily manipulated and I don't think investors understand that," Clayton said.

KIN coin up 23%......closing in on a buck

CFTC cryptocurrency plan would aim to counter futures volatility
The Commodity Futures Trading Commission is considering rules to increase the transparency of cryptocurrency futures and their treatment by clearinghouses to mitigate the effect of price swings on futures markets.

https://www.ft.com/content/db9d547e-...0-9c0ad2d7c5b5

Innovation Shares launches blockchain ETF guided by AI
Innovation Shares has brought to NYSE Arca an exchange-traded fund investing in companies involved with blockchain technology. The Innovation Shares NextGen Protocol ETF is linked to an index that uses artificial intelligence to pick investments.

4th Blockchain ETF Has AI Twist | ETF.com

Originally Posted by Dragonfly

https://www.bloomberg.com/news/artic...eptic-in-chief

SEC's Clayton looks at cryptocurrency exchanges
Securities and Exchange Commission Chairman Jay Clayton has turned his regulatory attention on domestic and offshore bitcoin exchanges not registered with the SEC. "These platforms that these things trade on, they are very easily manipulated and I don't think investors understand that," Clayton said.

Excellent, moving there, but politicians/administrators rarely get anything right that they can fok up.

Originally Posted by Dragonfly

“
https://www.bloomberg.com/news/articles/2018-01-31/signaling-crackdown-sec-boss-emerges-as-crypto-skeptic-in-chief

If a U.S. person sends their money to a foreign country through the internet and it gets taken, there’s not much I can do about it,” he said.

Originally Posted by jabir

Excellent, moving there, but politicians/administrators rarely get anything right that they can fok up.

jabir, world-wide regulation of cryptos is never going to happen as the technology ensures that.

IMO, crpto trading is like gold mining in the wild wild west and jabir you're upset about a dodgy chinese crypto exchanges's slow transaction time/lack of customer service response is like

a gold miner in the mid 1800s complaining to guys in the local saloon that he was ripped off and the site he bought had no gold.

;-) (just kidding)

F.O. butterhead.

Originally Posted by uncle junior

F.O. butterhead.

who/what's a butterhead?

Butterfly . Aka butterfluffer was the previous nickname of dragonfly before he flounced after getting utterly owned during the BUTSECS cabaret

oh, i see.

Originally Posted by Farangrakthai

jabir, world-wide regulation of cryptos is never going to happen as the technology ensures that.

IMO, crpto trading is like gold mining in the wild wild west and jabir you're upset about a dodgy chinese crypto exchanges's slow transaction time/lack of customer service response is like

a gold miner in the mid 1800s complaining to guys in the local saloon that he was ripped off and the site he bought had no gold.

;-) (just kidding)

Sure I'm irritated the first time I make a withdrawal and it takes 8 hours almost to the minute. Wasn't time sensitive, wasn't in a hurry to unload, just moving stock around, but still shouldn't take that long. And guess what when it finally reached binance - deposits suspended pending wallet maintenance, so it's on the housing queue and waiting for a place to squat.

Of course there won't be a global regulatory anything, but western govs have a responsibility to protect their people just as they do with banks, investments, media, transport and foodstuffs, and as with many other things I have no airs or expectation for 3world countries to follow suit.

Fair wild west analogy, does fit in some respects, which is reason enough for regulation just as in them thar days.

Originally Posted by Farangrakthai

who/what's a butterhead?

TD's version of AA.

Originally Posted by Farangrakthai

jabir, world-wide regulation of cryptos is never going to happen as the technology ensures that.

that's very funny, because in the last few years alone, since the financial crisis, there is a nice coordinated effort between Central Banks, Government Treasury offices and Regulatory bodies (SEC, ESMA, FCA, FINRA)

rest assure that when one will implement the bans, the others will have no choice but to follow

third world shitholes banking are actually "sub-accounts" of big global banks, which are all located in the US and Europe

Ask Iran how things going with their international banking, no need for FACTA there

Originally Posted by baldrick

Butterfly . Aka butterfluffer was the previous nickname of dragonfly before he flounced after getting utterly owned during the BUTSECS cabaret

we all know you are delusional and love to rewrite history, plumber boy

how is that ASIC doll doing ? is she profitable yet ?

Originally Posted by Farangrakthai

how can distributed ledger be controlled?

it doesn't need the banks which is the main purpose of it.

that's what you crypto-nutters keep missing out, at some point, you will need to transfer your "asset" into a hard currency

and you will need a financial institution of some sort to translate crypto values into hard cash

and all financial institutions are regulated, and if they are told not to handle cryptos or be the counter party for cryptos, then who is going to give you cash for your cryptos ? Paypal ?

didn't you guys went to school and learn about banking 101 ? oh wait, this is TD

Originally Posted by Farangrakthai

and the video at the top of the page of the bloomberg article is pretty fair and balanced.

compared to your views.

the reporting might be fair and balanced, but the SEC and regulatory bodies are not, and they are looking for blood

Originally Posted by Dragonfly

and you will need a financial institution of some sort to translate crypto values into hard cash

of course and you thinking that the us, uk, etc. are going to ban crypto trading is as ludicrous as earl thinking bitcoin will be at 100,000 by the end of the year.

from your article:

https://www.bloomberg.com/news/artic...eptic-in-chief

Clayton said the agency has all the power it needs to regulate crypto products. He added that SEC oversight will ultimately help the industry flourish.