The Rise and Fall of Bitcoin WIRED

The pandemic was bitcoins chance to shine. It hasnt... yet (current BTC/USD price is $6,939.39)

Latest Bitcoin News:
The pandemic was bitcoins chance to shine. It hasnt... yet
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

World Carnivore Month is January 2019! Info dump inside!

Hey all!
Our subreddit has grown CONSIDERABLY in the last year - 2018 was a huge year for the zerocarb carnivore movement, and it started through the success of World Carnivore Month at the beginning of 2018! Tens of thousands of people joined Facebook groups, and 50,000 people subscribed to this subreddit! Hundreds are talking about the carnivore diet on Twitter - you can see if someone is a carnivore by checking if they have ©️ in their name, like mine! hyper©️arnivore
Surprisingly, this is a very old diet that has centuries of history.
http://highsteaks.com/carnivores-creed/owsley-the-bear-stanley/
We have multiple doctors not only suggesting that people try a carnivorous zerocarb diet, but are even doing it themselves and realizing they too have been conned by the health and nutrition establishment.

Doctors such as:

Supporting evidence that the following doctors recommend Carnivore Diet or close to it. https://www.reddit.com/usedem0n0cracy/comments/addz0l/doctors_discuss_the_carnivore_diet/
https://www.reddit.com/usedem0n0cracy/comments/ade16i/more_doctors_pharmacists_researchers_phds/
Dr. Shawn Baker - u/shawnbaker1967 https://twitter.com/SBakerMD
Dr. Ken D Berry https://twitter.com/KenDBerryMD
Dr. Jay Wrigley https://twitter.com/KetoDocCLT
Dr. Anthony Jay https://twitter.com/anthonygjay
Dr. Kevin Stock https://twitter.com/kevinstock12
Dr. Christian Assad https://twitter.com/ChristianAssad
Dr. Paul Saladino https://twitter.com/MDSaladino
Dr. Robert Pastore https://twitter.com/RP5hydroxy
Dr. David Unwin https://twitter.com/lowcarbGP
Dr. Michael Eades M.D. https://twitter.com/DrEades
Dr. Tro Kalayjian - u/DoctorTro https://twitter.com/DoctorTro
Dr. Paul Mason https://twitter.com/DrPaulMason
Dr. Csaba Toth https://twitter.com/paleoketogenic
Dr. Anthony Chaffee https://twitter.com/anthony_chaffee
Dr. Georgia Ede diagnosisdiet.com https://twitter.com/GeorgiaEdeMD
Dr. Ted Naiman https://twitter.com/tednaiman
Dr. Gary Fettke https://twitter.com/FructoseNo
Dr. Ben Bikman https://twitter.com/BenBikmanPhD
Dr. Peter Ballerstedt https://twitter.com/GrassBased
Dr. Nevada Gray https://twitter.com/GrayNevada
Dr. Gabrielle Lyon https://twitter.com/drgabriellelyon
Dr. Bret Scher https://twitter.com/bschermd
Dr. Paul Mabry
Dr. Darren Schmidt - D.C. https://twitter.com/realfoodcures
Dr. Steven Horwitz - D.C. https://twitter.com/DrHorwitz
Dr. Cameron Sepah https://Twitter.com/DrSepah
Dr. David Baldes M.D. https://twitter.com/ketoshrink/status/1081763193536634881?s=21
Nutritionist Amy Berger https://twitter.com/TuitNutrition
Professor Timothy Noakes https://twitter.com/ProfTimNoakes
Professor Stuart Phillips https://twitter.com/mackinprof
Journalist Nina Teicholz https://twitter.com/bigfatsurprise
Ph.D candidate Miki Ben-Dor https://twitter.com/bendormiki

Facebook Groups have grown substantially!

https://www.facebook.com/groups/worldcarnivoretribe/ - World Carnivore Tribe started by Dr. Shawn Baker
https://www.facebook.com/groups/zioh2/ - Zeroing In On Health started by Charles Washington 8 years ago
https://www.facebook.com/groups/PrincipiaCarnivora/ - Principia Carnivora started by Michael Frieze 3 years ago
https://www.facebook.com/groups/160488851347176/ - 100% Carnivore...and Beyond! started by Phil Escott this year
https://www.facebook.com/groups/1685052231589351/ - Carnivore Paleolithic Ketogenic Diet Support Group
https://www.facebook.com/groups/482045862179951/ - Carnivore/Keto Diet
https://www.facebook.com/groups/509414366151670/?ref=group_header - Autistic Carnivores
https://www.facebook.com/groups/animalfatrx/ - Animal Fat RX
https://www.facebook.com/groups/191667651770756/ - RAW-some Zero Carb Carnivore Sanctuary
https://www.facebook.com/groups/womencarnivoretribe/ - Women Carnivore Tribe
https://www.facebook.com/groups/meathealth/ - Carnivore Corner
https://www.facebook.com/groups/KetoCarnivoreIF/ - Keto Carnivore IF
https://www.facebook.com/groups/zerocarbdoc/ - Zero Carb Doc started by Dr. Paul Mabry
https://www.facebook.com/groups/661617567520427/ - Zero Carb: Living the Good Life

Images

The Carnivore Diet for Mankind - HD - Star - Emoji Advice of what to eat / drink, Polls, Podcasts, Books - Zoom in to see the small text in this HD photo https://i.redd.it/qftzcf3if4k11.png
Homo Carnivorus - Part 1 : https://i.redd.it/xnmqrewisd221.png
Homo Carnivorus - Part 2 : https://i.redd.it/z7vjpfcksd221.png
StarChart - https://i.redd.it/789n61b45e221.png
CarnivoreDietAdvice - https://i.redd.it/31ud3dj65e221.png
Podcasts - https://i.redd.it/0rw60z785e221.png
Books - https://i.redd.it/k0074of95e221.png
Polls - https://i.redd.it/yqeribea5e221.png

Websites

http://highsteaks.com/carnivores-creed/owsley-the-bear-stanley/ - Read about The Bear - who coined the 'zerocarb' nomenclature and did the diet for 53 years until his untimely death in a car accident.
https://justmeat.co - Michael Goldstein @bitstein
https://meat.health/ - Dr. Kevin Stock
https:///meatheals.com - N=1 Anecdotes (@bitstein and @sbakermd run it)
https://zerocarbzen.com/testimonials/
https://ketogenicendurance.com/category/carnivore-diet-success-stories/
http://www.empiri.ca/p/eat-meat-not-too-little-mostly-fat.html - L Amber O'Hearn
http://www.diagnosisdiet.com/ - Dr Georgia Ede
http://highsteaks.com/f/index.php/board,5.0/sort,views/desc.html - Tons of old forum posts about various topics!
http://mikhailapeterson.com/ - Don't Eat That! Blog
A history of Nutrition Science
Part 1 (1785-1885): http://jn.nutrition.org/content/133/3/638.abstractPart 2 (1885-1912): http://jn.nutrition.org/content/133/4/975.fullPart 3 (1912-1944): http://jn.nutrition.org/content/133/10/3023.fullPart 4 (1945-1985): http://jn.nutrition.org/content/133/11/3331.full" I like to go back and re-read these articles on occasion to refresh my understanding of the Keto lifestyle. Many people aren't aware there there is a long unbroken string of professionals that have been using low carbohydrate interventions to combat obesity dating all the way back to the 1860s. This is by no means an exhaustive list, but rather shows a "lineage of thinking" that got us to where we are today. Some of these publications are hard to find now, so I leave them here for you to enjoy:

Books

Giant Booklist! https://www.reddit.com/ketoscience/wiki/index
New Books!

YouTube Channels

Frank Tufano https://www.youtube.com/channel/UCIEiE-hnAUXUZNNeMJsZBYA/videos
Shawn Baker https://www.youtube.com/channel/UC5apkKkeZQXRSDbqSalG8CQ/videos
HVMN https://hvmn.com/podcast/
Low Carb Down Under https://www.youtube.com/uselowcarbdownundevideos
Primal Edge Health https://www.youtube.com/usePrimalEdgeHealth/videos
Dr. Eric Berg DC https://www.youtube.com/usedrericberg123/videos
Ancestry Foundation https://www.youtube.com/useAncestryFoundation/videos
The Raw Primal Family https://www.youtube.com/channel/UCZx7e6GWv49UiSBkpzpqoUA/videos
Daphne Reloaded https://www.youtube.com/channel/UCOkEtmLmlugiPN9hH8u9Zyg/videos
Thomas DeLauer https://www.youtube.com/useTheTdelauevideos
The Weston A Price Foundation https://www.youtube.com/useTheWestonAPrice/videos
Dr. Darren Schmidt https://www.youtube.com/useNutritionalHealingA2/videos
PrimalBro https://www.youtube.com/channel/UC2e2i4dJgsl0cB5PFjTDBZw/videos
Phil Escott https://www.youtube.com/channel/UCcHEYrfmQH-5RxiFL5RD08g/videos
Ketogeek https://www.youtube.com/channel/UClBAXCB3f0vUzj9wwKJeoOQ/videos
Ken D Berry MD https://www.youtube.com/useKenDBerry/videos
Physicians for Ancestral Health https://www.youtube.com/channel/UCijY61FN3AtDWSbrRj9nYqA/videos
Public Health Collaboration https://www.youtube.com/channel/UCZO0WD6hn02_6b0_MNTKPgQ
Fat Fueled Family - Danny Vega https://www.youtube.com/watch?v=fBWrXQozj8I
Crohn's Colitis Vitality https://www.youtube.com/channel/UCfnYhj9llnBS78vM8jwtNCA
Vegetable Police https://www.youtube.com/channel/UCFuLNktnqqBEF_9ZcmjC_bw
What I've Learned https://www.youtube.com/channel/UCqYPhGiB9tkShZorfgcL2lA
sv3rige https://www.youtube.com/usesv3rige
KasumiKriss https://www.youtube.com/channel/UCp4_eaWIdkiW37Fg4Moi9Ag
SHREDucated https://www.youtube.com/channel/UCTQ5VXO6E9iVdMT5WJwuqHA
Tuit Nutrition - Amy Berger https://www.youtube.com/channel/UCmDz-SYYhoerycynsCm7L8g
Keto Connect https://www.youtube.com/channel/UCzRYivTpUQ0r2qPPjfLoQiA
Carneval https://www.youtube.com/channel/UCngtlLz7xTfiEAsDU-HrnBg
Full Range Strength - Don Matesz https://www.youtube.com/channel/UCZHoeDSpHN1bBWXsqSgaeuw
Dr. Nick Zyrowski https://www.youtube.com/watch?v=3o_WpYz0gso
Dr. Paul Saladino https://www.youtube.com/watch?v=Pg1P0buUrv4
Autism and the Carnivore Diet https://www.youtube.com/watch?v=f5ME6nGWxcQ&t=1s
Rob Stuart https://www.youtube.com/watch?v=Qk5R_invOWQ

Podcasts

CarnivoreCast http://www.carnivorecast.com/Human Performance Outliers (Dr. Shawn Baker and Zach Bitter) http://humanperformanceoutliers.libsyn.com/Peak Human https://www.peak-human.com/BioHackers Lab https://www.biohackerslab.com/
Fitness Confidential https://vinnietortorich.com/tag/fitness-confidential/
Low Carb Cardiologist with Dr. Bret Scher https://lowcarbcardiologist.com/
Diet Doctor Podcast (has video) https://www.dietdoctor.com/the-diet-doctor-podcast-is-now-on-itunes-apple-podcasts
Dr. Peter Attia - The Drive https://peterattiamd.com/podcast/
2 Keto Dudes http://2ketodudes.com/
The Keto Savage http://ketosavage.com/podcasts/
Low Carb MD http://www.lowcarbmd.com/
Zero Carb Journal https://itunes.apple.com/us/podcast/zero-carb-journal/id1328453741
InnerFirePodcast https://itunes.apple.com/us/podcast/innerfirepodcast/id1249685753
STEM-Talk https://www.ihmc.us/stemtalks/

Crowd Funded Science

Get a $169 TeloMere kit and do the Carnivore Diet strictly for 3 months and then send in results(or don't)! https://www.ajconsultingcompany.com/carnivoredietstudy.html
nequalsmany.com Free tracking app designed for Carnivore Diet

In the News!

ABC News Good Morning America : What to know about the trendy, meat-only 'carnivory' diet By ABC NEWS Jul 27, 2018, 8:51 AM ETSFChronicle - Tech workers seeking an edge on peers turn to all-meat ‘carnivore diet’
INC: Steak Is the New Salad: Why These Techies Are Embracing an All-Meat Diet Your Coinbase account should be accompanied by steak and bacon, according to these cryptocurrency luminaries. Sept 22, 2017
Vice : Inside the World of the 'Bitcoin Carnivores' Why a small community of Bitcoin users is eating meat exclusively. Sept 29th, 2017
Global News Canada : Danielle Smith: If you want to improve your health, eat more meat January 12, 2018
INC: I Ate Nothing but Meat for 2 Weeks. Here's What It Was Like @sonyaellenmann
The Guardian: They mock vegans and eat 4lb of steak a day: meet 'carnivore dieters' An extreme, all animal-based diet is gaining followers in search of heightened productivity, mental clarity, and a boosted libido. But experts express doubts @oliviasolon Fri 11 May 2018 04.00 EDT
National Post: Meat, meat, and more meat: Extreme, animal-only 'carnivore diet' gaining followers Enthusiasts of the all-meat diet include a group of self-proclaimed 'bitcoin carnivores' May 15, 2018
Healthline : This Woman Says Meat-Only Diet Eased Her Autoimmune Disease Symptoms Mikhaila Peterson took the keto diet one extra step by eliminating veggies and eating only meat. She says it cured several illnesses. Experts aren’t convinced. Written by Gigen Mammoser on June 3, 2018
PureWow : What Is the Carnivore Diet (and Should You Try It)? By ALEXIA DELLNER | JUN. 27, 2018
'Vegans Are Sacks Of Sh*t But They Are Winning' Carnivore Ex-Doc Blasts Jul 18, 2018
NYPost : New diet claims you can lose weight eating only steak and burgers July 24, 2018
Eggs and bacon for breakfast, burgers for lunch, steak for dinner: Man says ‘carnivore diet’ has helped him lose weightPOSTED 8:50 PM, JULY 29, 2018, BY FOX NEWS WIRE SERVICE,
BuzzFeed News : Jordan Peterson Says Meat Cured His Depression. Now His Daughter Will Tell You How It Healed Her Too — For A Fee. Posted on July 31, 2018
PopSci : Please do not try to survive on an all-meat diet By Sara Chodosh August 2, 2018
The Daily Meal: The Carnivore Diet Is the Wildest Weight Loss Craze of All Time August 3, 2018 By Holly Van Hare
Repost to News.Com.Au : New diet claims you can lose weight eating only steaks and burgers AUGUST 5, 2018
PETA Takes Life Insurance Policy Out On A Carnivore Dieter, Hopes To Turn Him Vegan
I'm a Registered Dietitian and I Really Don't Want You to Eat a Carnivore Diet August 7th, 2018
TRENDS TO TOSS (OR MODERATE) IN 2019 CARNIVORE DIET

Related Subreddits

ketoscience
keto
KetoNews
ZeroCarbMeals
carnivore
carnivorediet
hypercarnivore
meatogains
ketogains
zerocarbrecipes
ketorecipes
StopEatingSugar
StopEatingSeedOils
PaleolithicKetogenic
Paleo
xxketo
lowcarb

Upcoming Conferences on Low Carb, Keto, Carnivore

submitted by dem0n0cracy to zerocarb [link] [comments]

An extensive guide for cashing out bitcoin and cryptocurrencies into private banks

Hey guys.
Merry Xmas !
I am coming back to you with a follow up post, as I have helped many people cash out this year and I have streamlined the process. After my original post, I received many requests to be more specific and provide more details. I thought that after the amazing rally we have been attending over the last few months, and the volatility of the last few days, it would be interesting to revisit more extensively.
The attitude of banks around crypto is changing slowly, but it is still a tough stance. For the first partial cash out I operated around a year ago for a client, it took me months to find a bank. They wouldn’t want to even consider the case and we had to knock at each and every door. Despite all my contacts it was very difficult back in the days. This has changed now, and banks have started to open their doors, but there is a process, a set of best practices and codes one has to follow.
I often get requests from crypto guys who are very privacy-oriented, and it takes me months to have them understand that I am bound by Swiss law on banking secrecy, and I am their ally in this onboarding process. It’s funny how I have to convince people that banks are legit, while on the other side, banks ask me to show that crypto millionaires are legit. I have a solid background in both banking and in crypto so I manage to make the bridge, but yeah sometimes it is tough to reconcile the two worlds. I am a crypto enthusiast myself and I can say that after years of work in the banking industry I have grown disillusioned towards banks as well, like many of you. Still an account in a Private bank is convenient and powerful. So let’s get started.
There are two different aspects to your onboarding in a Swiss Private bank, compliance-wise.
*The origin of your crypto wealth
*Your background (residence, citizenship and probity)
These two aspects must be documented in-depth.
How to document your crypto wealth. Each new crypto millionaire has a different story. I may detail a few fun stories later in this post, but at the end of the day, most of crypto rich I have met can be categorized within the following profiles: the miner, the early adopter, the trader, the corporate entity, the black market, the libertarian/OTC buyer. The real question is how you prove your wealth is legit.
1. Context around the original amount/investment Generally speaking, your first crypto purchase may not be documented. But the context around this acquisition can be. I have had many cases where the original amount was bought through Mtgox, and no proof of purchase could be provided, nor could be documented any Mtgox claim. That’s perfectly fine. At some point Mtgox amounted 70% of the bitcoin transactions globally, and people who bought there and managed to withdraw and keep hold of their bitcoins do not have any Mtgox claim. This is absolutely fine. However, if you can show me the record of a wire from your bank to Tisbane (Mtgox's parent company) it's a great way to start.
Otherwise, what I am trying to document here is the following: I need context. If you made your first purchase by saving from summer jobs, show me a payroll. Even if it was USD 2k. If you acquired your first bitcoins from mining, show me the bills of your mining equipment from 2012 or if it was through a pool mine, give me your slushpool account ref for instance. If you were given bitcoin against a service you charged, show me an invoice.
2. Tracking your wealth until today and making sense of it. What I have been doing over the last few months was basically educating compliance officers. Thanks God, the blockchain is a global digital ledger! I have been telling my auditors and compliance officers they have the best tool at their disposal to lead a proper investigation. Whether you like it or not, your wealth can be tracked, from address to address. You may have thought all along this was a bad feature, but I am telling you, if you want to cash out, in the context of Private Banking onboarding, tracking your wealth through the block explorer is a boon. We can see the inflows, outflows. We can see the age behind an address. An early adopter who bought 1000 BTC in 2010, and let his bitcoin behind one address and held thus far is legit, whether or not he has a proof of purchase to show. That’s just common sense. My job is to explain that to the banks in a language they understand.
Let’s have a look at a few examples and how to document the few profiles I mentioned earlier.
The trader. I love traders. These are easy cases. I have a ton of respect for them. Being a trader myself in investment banks for a decade earlier in my career has taught me that controlling one’s emotions and having the discipline to impose oneself some proper risk management system is really really hard. Further, being able to avoid the exchange bankruptcy and hacks throughout crypto history is outstanding. It shows real survival instinct, or just plain blissed ignorance. In any cases traders at exchange are easy cases to corroborate since their whole track record is potentially available. Some traders I have met have automated their trading and have shown me more than 500k trades done over the span of 4 years. Obviously in this kind of scenario I don’t show everything to the bank to avoid information overload, and prefer to do some snacking here and there. My strategy is to show the early trades, the most profitable ones, explain the trading strategy and (partially expose) the situation as of now with id pages of the exchanges and current balance. Many traders have become insensitive to the risk of parking their crypto at exchange as they want to be able to trade or to grasp an occasion any minute, so they generally do not secure a substantial portion on the blockchain which tends to make me very nervous.
The early adopter. Provided that he has not mixed his coin, the early adopter or “hodler” is not a difficult case either. Who cares how you bought your first 10k btc if you bought them below 3$ ? Even if you do not have a purchase proof, I would generally manage to find ways. We just have to corroborate the original 30’000 USD investment in this case. I mainly focus on three things here:
*proof of early adoption I have managed to educate some banks on a few evidences specifically related to crypto markets. For instance with me, an old bitcointalk account can serve as a proof of early adoption. Even an old reddit post from a few years ago where you say how much you despise this Ripple premined scam can prove to be a treasure readily available to show you were early.
*story telling Compliance officers like to know when, why and how. They are human being looking for simple answers to simple questions and they don’t want like to be played fool. Telling the truth, even without a proof can do wonders, and even though bluffing might still work because banks don’t fully understand bitcoin yet, it is a risky strategy that is less and less likely to pay off as they are getting more sophisticated by the day.
*micro transaction from an old address you control This is the killer feature. Send a $20 worth transaction from an old address to my company wallet and to one of my partner bank’s wallet and you are all set ! This is gold and considered a very solid piece of evidence. You can also do a microtransaction to your own wallet, but banks generally prefer transfer to their own wallet. Patience with them please. they are still learning.
*signature message Why do a micro transaction when you can sign a message and avoid potentially tainting your coins ?
*ICO millionaire Some clients made their wealth participating in ETH crowdsale or IOTA ICO. They were very easy to deal with obviously and the account opening was very smooth since we could evidence the GENESIS TxHash flow.
The miner Not so easy to proof the wealth is legit in that case. Most early miners never took screenshot of the blocks on bitcoin core, nor did they note down the block number of each block they mined. Until the the Slashdot article from August 2010 anyone could mine on his laptop, let his computer run overnight and wake up to a freshly minted block containing 50 bitcoins back in the days. Not many people were structured enough to store and secure these coins, avoid malwares while syncing the blockchain continuously, let alone document the mined blocks in the process. What was 50 BTC worth really for the early miners ? dust of dollars, games and magic cards… Even miners post 2010 are generally difficult to deal with in terms of compliance onboarding. Many pool mining are long dead. Deepbit is down for instance and the founders are MIA. So my strategy to proof mining activity is as follow:
*Focusing on IT background whenever possible. An IT background does help a lot to bring some substance to the fact you had the technical ability to operate a mining rig.
*Showing mining equipment receipts. If you mined on your own you must have bought the hardware to do so. For instance mining equipment receipts from butterfly lab from 2012-2013 could help document your case. Similarly, high electricity bill from your household on a consistent basis back in the day could help. I have already unlocked a tricky case in the past with such documents when the bank was doubtful.
*Wallet.dat files with block mining transactions from 2011 thereafter This obviously is a fantastic piece of evidence for both you and me if you have an old wallet and if you control an address that received original mined blocks, (even if the wallet is now empty). I will make sure compliance officers understand what it means, and as for the early adopter, you can prove your control over these wallet through a microtransaction. With these kind of addresses, I can show on the block explorer the mined block rewards hitting at regular time interval, and I can even spot when difficulty level increased or when halvening process happened.
*Poolmining account. Here again I have educated my partner bank to understand that a slush account opened in 2013 or an OnionTip presence was enough to corroborate mining activity. The block explorer then helps me to do the bridge with your current wallet.
*Describing your set up and putting it in context In the history of mining we had CPU, GPU, FPG and ASICs mining. I will describe your technical set up and explain why and how your set up was competitive at that time.
The corporate entity Remember 2012 when we were all convinced bitcoin would take over the world, and soon everyone would pay his coffee in bitcoin? How naïve we were to think transaction fees would remain low forever. I don’t blame bitcoin cash supporters; I once shared this dream as well. Remember when we thought global adoption was right around the corner and some brick and mortar would soon accept bitcoin transaction as a common mean of payment? Well, some shop actually did accept payment and held. I had a few cases as such of shops holders, who made it to the multi million mark holding and had invoices or receipts to proof the transactions. If you are organized enough to keep a record for these trades and are willing to cooperate for the documentation, you are making your life easy. The digital advertising business is also a big market for the bitcoin industry, and affiliates partner compensated in btc are common. It is good to show an invoice, it is better to show a contract. If you do not have a contract (which is common since all advertising deals are about ticking a check box on the website to accept terms and conditions), there are ways around that. If you are in that case, pm me.
The black market Sorry guys, I can’t do much for you officially. Not that I am judging you. I am a libertarian myself. It’s just already very difficult to onboard legit btc adopters, so the black market is a market I cannot afford to consider. My company is regulated so KYC and compliance are key for me if I want to stay in business. Behind each case I push forward I am risking the credibility and reputation I have built over the years. So I am sorry guys I am not risking it to make an extra buck. Your best hope is that crypto will eventually take over the world and you won’t need to cash out anyway. Or go find a Lithuanian bank that is light on compliance and cooperative.
The OTC buyer and the libertarian. Generally a very difficult case. If you bought your stack during your journey in Japan 5 years ago to a guy you never met again; or if you accumulated on https://localbitcoins.com/ and kept no record or lost your account, it is going to be difficult. Not impossible but difficult. We will try to build a case with everything else we have, and I may be able to onboard you. However I am risking a lot here so I need to be 100% confident you are legit, before I defend you. Come & see me in Geneva, and we will talk. I will run forensic services like elliptic, chainalysis, or scorechain on an extract of your wallet. If this scan does not raise too many red flags, then maybe we can work together ! If you mixed your coins all along your crypto history, and shredded your seeds because you were paranoid, or if you made your wealth mining professionally monero over the last 3 years but never opened an account at an exchange. ¯_(ツ)_/¯ I am not a magician and don’t get me wrong, I love monero, it’s not the point.
Cashing out ICOs Private companies or foundations who have ran an ICO generally have a very hard time opening a bank account. The few banks that accept such projects would generally look at 4 criteria:
*Seriousness of the project Extensive study of the whitepaper to limit the reputation risk
*AML of the onboarding process ICOs 1.0 have no chance basically if a background check of the investors has not been conducted
*Structure of the moral entity List of signatories, certificate of incumbency, work contract, premises...
*Fiscal conformity Did the company informed the authorities and seek a fiscal ruling.
For the record, I am not into the tax avoidance business, so people come to me with a set up and I see if I can make it work within the legal framework imposed to me.
First, stop thinking Switzerland is a “offshore heaven” Swiss banks have made deals with many governments for the exchange of fiscal information. If you are a French citizen, resident in France and want to open an account in a Private Bank in Switzerland to cash out your bitcoins, you will get slaughtered (>60%). There are ways around that, and I could refer you to good tax specialists for fiscal optimization, but I cannot organize it myself. It would be illegal for me. Swiss private banks makes it easy for you to keep a good your relation with your retail bank and continue paying your bills without headaches. They are integrated to SEPA, provide ebanking and credit cards.
For information, these are the kind of set up some of my clients came up with. It’s all legal; obviously I do not onboard clients that are not tax compliant. Further disclaimer: I did not contribute myself to these set up. Do not ask me to organize it for you. I won’t.
EU tricks
Swiss lump sum taxation Foreign nationals resident in Switzerland can be taxed on a lump-sum basis if they are not gainfully employed in our country. Under the lump-sum tax regime, foreign nationals taking residence in Switzerland may choose to pay an expense-based tax instead of ordinary income and wealth tax. Attractive cantons for the lump sum taxation are Zug, Vaud, Valais, Grisons, Lucerne and Berne. To make it short, you will be paying somewhere between 200 and 400k a year and all expenses will be deductible.
Switzerland has adopted a very friendly attitude towards crypto currency in general. There is a whole crypto valley in Zug now. 30% of ICOs are operated in Switzerland. The reason is that Switzerland has thrived for centuries on banking secrecy, and today with FATCA and exchange of fiscal info with EU, banking secrecy is dead. Regulators in Switzerland have understood that digital ledger technologies were a way to roll over this competitive advantage for the generations to come. Switzerland does not tax capital gains on crypto profits. The Finma has a very pragmatic approach. They have issued guidance- updated guidelines here. They let the business get organized and operate their analysis on a case per case basis. Only after getting a deep understanding of the market will they issue a global fintech license in 2019. This approach is much more realistic than legislations which try to regulate everything beforehand.
Italy new tax exemption. It’s a brand new fiscal exemption. Go to Aoste, get residency and you could be taxed a 100k/year for 10years. Yes, really.
Portugal What’s crazy in Europe is the lack of fiscal harmonization. Even if no one in Brussels dares admit it, every other country is doing fiscal dumping. Portugal is such a country and has proved very friendly fiscally speaking. I personally have a hard time trusting Europe. I have witnessed what happened in Greece over the last few years. Some of our ultra high net worth clients got stuck with capital controls. I mean no way you got out of crypto to have your funds confiscated at the next financial crisis! Anyway. FYI
Malta Generally speaking, if you get a residence somewhere you have to live there for a certain period of time. Being stuck in Italy is no big deal with Schengen Agreement, but in Malta it is a different story. In Malta, the ordinary residence scheme is more attractive than the HNWI residence scheme. Being an individual, you can hold a residence permit under this scheme and pay zero income tax in Malta in a completely legal way.
Monaco Not suitable for French citizens, but for other Ultra High Net worth individual, Monaco is worth considering. You need an account at a local bank as a proof of fortune, and this account generally has to be seeded with at least EUR500k. You also need a proof of residence. I do mean UHNI because if you don’t cash out minimum 30m it’s not interesting. Everything is expensive in Monaco. Real Estate is EUR 50k per square meter. A breakfast at Monte Carlo Bay hotel is 70 EUR. Monaco is sunny but sometimes it feels like a golden jail. Do you really want that for your kids?
Dubaï
  1. Set up a company in Dubaï, get your resident card.
  2. Spend one day every 6 month there
  3. ???
  4. Be tax free
US tricks Some Private banks in Geneva do have the license to manage the assets of US persons and U.S citizens. However, do not think it is a way to avoid paying taxes in the US. Opening an account at an authorized Swiss Private banks is literally the same tax-wise as opening an account at Fidelity or at Bank of America in the US. The only difference is that you will avoid all the horror stories. Horror stories are all real by the way. In Switzerland, if you build a decent case and answer all the questions and corroborate your case in depth, you will manage to convince compliance officers beforehand. When the money eventually hits your account, it is actually available and not frozen.
The IRS and FATCA require to file FBAR if an offshore account is open. However FBAR is a reporting requirement and does not have taxes related to holding an account outside the US. The taxes would be the same if the account was in the US. However penalties for non compliance with FBAR are very large. The tax liability management is actually performed through the management of the assets ( for exemple by maximizing long term capital gains and minimizing short term gains).
The case for Porto Rico. Full disclaimer here. I am not encouraging this. Have not collaborated on such tax avoidance schemes. if you are interested I strongly encourage you to seek a tax advisor and get a legal opinion. I am not responsible for anything written below. I am not going to say much because I am so afraid of uncle Sam that I prefer to humbly pass the hot potato to pwc From here all it takes is a good advisor and some creativity to be tax free on your crypto wealth if you are a US person apparently. Please, please please don’t ask me more. And read the disclaimer again.
Trust tricks Generally speaking I do not accept fringe fiscal situation because it puts me in a difficult situation to the banks I work with, and it is already difficult enough to defend a legit crypto case. Trust might be a way to optimize your fiscal situation. Belize. Bahamas. Seychelles. Panama, You name it. At the end of the day, what matters for Swiss Banks are the beneficial owner and the settlor. Get a legal opinion, get it done, and when you eventually knock at a private bank’s door, don’t say it was for fiscal avoidance you stupid ! You will get the door smashed upon you. Be smarter. It will work. My advice is just to have it done by a great tax specialist lawyer, even if it costs you some money, as the entity itself needs to be structured in a professional way. Remember that with trust you are dispossessing yourself off your wealth. Not something to be taken lightly.
“Anonymous” cash out. Right. I think I am not going into this topic, neither expose the ways to get it done. Pm me for details. I already feel a bit uncomfortable with all the info I have provided. I am just going to mention many people fear that crypto exchange might become reporting entities soon, and rightly so. This might happen anyday. You have been warned. FYI, this only works for non-US and large cash out.
The difference between traders an investors. Danmark, Holland and Germany all make a huge difference if you are a passive investor or if you are a trader. ICO is considered investing for instance and is not taxed, while trading might be considered as income and charged aggressively. I would try my best to protect you and put a focus on your investor profile whenever possible, so you don't have to pay 52% tax if you do not have to :D
Full cash out or partial cash out? People who have been sitting on crypto for long have grown an emotional and irrational link with their coins. They come to me and say, look, I have 50m in crypto but I would like to cash out 500k only. So first let me tell you that as a wealth manager my advice to you is to take some off the table. Doing a partial cash out is absolutely fine. The market is bullish. We are witnessing a redistribution of wealth at a global scale. Bitcoin is the real #occupywallstreet, and every one will discuss crypto at Xmas eve which will make the market even more supportive beginning 2018, especially with all hedge funds entering the scene. If you want to stay exposed to bitcoin and altcoins, and believe these techs will change the world, it’s just natural you want to keep some coins. In the meantime, if you have lived off pizzas over the last years, and have the means to now buy yourself an nice house and have an account at a private bank, then f***ing do it mate ! Buy physical gold with this account, buy real estate, have some cash at hands. Even though US dollar is worthless to your eyes, it’s good and convenient to have some. Also remember your wife deserves it ! And if you have no wife yet and you are socially awkward like the rest of us, then maybe cashing out partially will help your situation ;)
What the Private Banks expect. Joke aside, it is important you understand something. If you come around in Zurich to open a bank account and partially cash out, just don’t expect Private Banks will make an exception for you if you are small. You can’t ask them to facilitate your cash out, buy a 1m apartment with the proceeds of the sale, and not leave anything on your current account. It won’t work. Sadly, under 5m you are considered small in private banking. The bank is ok to let you open an account, provided that your kyc and compliance file are validated, but they will also want you to become a client and leave some money there to invest. This might me despicable, but I am just explaining you their rules. If you want to cash out, you should sell enough to be comfortable and have some left. Also expect the account opening to last at least 3-4 week if everything goes well. You can't just open an account overnight.
The cash out logistics. Cashing out 1m USD a day in bitcoin or more is not so hard.
Let me just tell you this: Even if you get a Tier 4 account with Kraken and ask Alejandro there to raise your limit over $100k per day, Even if you have a bitfinex account and you are willing to expose your wealth there, Even if you have managed to pass all the crazy due diligence at Bitstamp,
The amount should be fractioned to avoid risking your full wealth on exchange and getting slaughtered on the price by trading big quantities. Cashing out involves significant risks at all time. There is a security risk of compromising your keys, a counterparty risk, a fat finger risk. Let it be done by professionals. It is worth every single penny.
Most importantly, there is a major difference between trading on an exchange and trading OTC. Even though it’s not publicly disclosed some exchange like Kraken do have OTC desks. Trading on an exchange for a large amount will weight on the prices. Bitcoin is a thin market. In my opinion over 30% of the coins are lost in translation forever. Selling $10m on an exchange in a day can weight on the prices more than you’d think. And if you trade on a exchange, everything is shown on record, and you might wipe out the prices because on exchanges like bitstamp or kraken ultimately your counterparties are retail investors and the market depth is not huge. It is a bit better on Bitfinex. It is way better to trade OTC. Accessing the institutional OTC market is not easy, and that is also the reason why you should ask a regulated financial intermediary if we are talking about huge amounts.
Last point, always chose EUR as opposed to USD. EU correspondent banks won’t generally block institutional amounts. However we had the cases of USD funds frozen or delayed by weeks.
Most well-known OTC desks are Cumberlandmining (ask for Lucas), Genesis (ask for Martin), Bitcoin Suisse AG (ask for Niklas), circletrade, B2C2, or Altcoinomy (ask for Olivier)
Very very large whales can also set up escrow accounts for massive block trades. This world, where blocks over 30k BTC are exchanged between 2 parties would deserve a reddit thread of its own. Crazyness all around.
Your options: DIY or going through a regulated financial intermediary.
Execution trading is a job in itself. You have to be patient, be careful not to wipe out the order book and place limit orders, monitor the market intraday for spikes or opportunities. At big levels, for a large cash out that may take weeks, these kind of details will save you hundred thousands of dollars. I understand crypto holders are suspicious and may prefer to do it by themselves, but there are regulated entities who now offer the services. Besides, being a crypto millionaire is not a guarantee you will get institutional daily withdrawal limits at exchange. You might, but it will take you another round of KYC with them, and surprisingly this round might be even more aggressive that the ones at Private banks since exchange have gone under intense scrutiny by regulators lately.
The fees for cashing out through a regulated financial intermediary to help you with your cash out should be around 1-2% flat on the nominal, not more. And for this price you should get the full package: execution/monitoring of the trades AND onboarding in a private bank. If you are asked more, you are being abused.
Of course, you also have the option to do it yourself. It is a way more tedious and risky process. Compliance with the exchange, compliance with the private bank, trading BTC/fiat, monitoring the transfers…You will save some money but it will take you some time and stress. Further, if you approach a private bank directly, it will trigger a series of red flag to the banks. As I said in my previous post, they call a direct approach a “walk-in”. They will be more suspicious than if you were introduced by someone and won’t hesitate to show you high fees and load your portfolio with in-house products that earn more money to the banks than to you. Remember also most banks still do not understand crypto so you will have a lot of explanations to provide and you will have to start form scratch with them!
The paradox of crypto millionaires Most of my clients who made their wealth through crypto all took massive amount of risks to end up where they are. However, most of them want their bank account to be managed with a low volatility fixed income capital preservation risk profile. This is a paradox I have a hard time to explain and I think it is mainly due to the fact that most are distrustful towards banks and financial markets in general. Many clients who have sold their crypto also have a cash-out blues in the first few months. This is a classic situation. The emotions involved in hodling for so long, the relief that everything has eventually gone well, the life-changing dynamics, the difficulties to find a new motivation in life…All these elements may trigger a post cash-out depression. It is another paradox of the crypto rich who has every card in his hand to be happy, but often feel a bit sad and lonely. Sometimes, even though it’s not my job, I had to do some psychological support. A lot of clients have also become my friends, because we have the same age and went through the same “ordeal”. First world problem I know… Remember, cashing out is not the end. It’s actually the beginning. Don’t look back, don’t regret. Cash out partially, because it does not make sense to cash out in full, regret it and want back in. relax.
The race to cash out crypto billionaire and the concept of late exiter. The Winklevoss brothers are obviously the first of a series. There will be crypto billionaires. Many of them. At a certain level you can have a whole family office working for you to manage your assets and take care of your needs . However, let me tell you it’s is not because you made it so big that you should think you are a genius and know everything better than anyone. You should hire professionals to help you. Managing assets require some education around the investment vehicles and risk management strategies. Sorry guys but with all the respect I have for wallstreebet, AMD and YOLO stock picking, some discipline is necessary. The investors who have made money through crypto are generally early adopters. However I have started to see another profile popping up. They are not early adopters. They are late exiters. It is another way but just as efficient. Last week I met the first crypto millionaire I know who first bough bitcoin over 1000$. 55k invested at the beginning of this year. Late adopter & late exiter is a route that can lead to the million.
Last remarks. I know banks, bankers, and FIAT currencies are so last century. I know some of you despise them and would like to have them burn to the ground. With compliance officers taking over the business, I would like to start the fire myself sometimes. I hope this extensive guide has helped some of you. I am around if you need more details. I love my job despite all my frustration towards the banking industry because it makes me meet interesting people on a daily basis. I am a crypto enthusiast myself, and I do think this tech is here to stay and will change the world. Banks will have to adapt big time. Things have started to change already; they understand the threat is real. I can feel the generational gap in Geneva, with all these old bankers who don’t get what’s going on. They glaze at the bitcoin chart on CNBC in disbelief and they start to get it. This bitcoin thing is not a joke. Deep inside, as an early adopter who also intends to be a late exiter, as a libertarian myself, it makes me smile with satisfaction.
Cheers. @swisspb on telegram
submitted by Swissprivatebanker to Bitcoin [link] [comments]

Are cryptocurrencies a sign of the beast?

I started to dig this one after reading nickhintonn333 post and after i saw this video... and everything seems to be perfectly arranged. It really makes sense...and this is very unsettling. Will anyone more familiar with the topic help me connect all the dots?
Bitcoin is the final evolution of money into a purely cashless, digital form. Combined with biometrics, it creates the necessary technological infrastructure for a one world cashless ID, otherwise known as the mark of the beast, which AI will use for complete economic surveillance and control over the human race.
Bitcoin is a technological breakthrough formed by combining a series of other technological developments, namely decentralized, distributed computing and mathematical encryption into a verifiable chain of permanently recorded transactions called the blockchain.
This technology represents the latest evolution of money, moving us further up the pyramid toward the all-seeing, omniscient authority (printed on the back of every dollar bill) that will eventually reign over the earth: AI. Link to the whole article
I wrote down my most troubling findings
10 years ago Satoshi Nakamoto created BitCoin. He also implemented the first blockchain. He never disclosed any personal information. A lot of theories arose, one of them is that bitcoin was created by the four largest technology concerns in Japan : SAmsung, TOSHIB, NAKAmichi, MOTOrola.

Revelation 13:16-18
Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.
Bitcoin is part of the beast system .www=666
is it a coincidence that 666 is hidden in every barcode? And even in the element from which everything is made - Carbon? And .www mean 666 in Hebrew?
Craig Wright Claims to Have Filed 666 Blockchain Patents
Last month, Nchain filed patent application number 666 — That’s right — the number of the Beast, Satan himself.
And this article from the site bitcoin.com, which was supposed to discredit one world currency theory but unfortunately the only argument is that "it is highly unlikely that bitcoin can be the mark of the beast"
I also found this on tradingview.com 666 price levels

Mark Zuckerberg invested 3 billion to research medical chips that would be implanted in children to monitor health from a young age. Link to the article. Ironically "Mark" Zuckerberg has a dog named Beast. (He is also creating his own cryptocurrency called Libra)
Ex-Google executive Anthony Levandowski is founding a church where people worship an artificial intelligence god Link to the article.

I apologize for a bit of a chaotic post but I need a little help to sort everything out.
submitted by nejviblue to PastSaturnsRings [link] [comments]

Decred Journal – August 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links.

Development

dcrd: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub.
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat.
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here.
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video for new Decred developers that explains how tickets are selected for voting.
dcrwallet: Version 1.3.0 RC1 features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated to the new module system.
Decrediton: Version 1.3.0 RC1 adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration.
Politeia: Proposal editing is being developed and has a short demo. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues.
dcrdata: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page, cool new hamburger menu and keyboard navigation. For developers: new chain parameters page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org. Check out the new charts page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org.
Android: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat. Alpha testing has started, to participate please join #dev and ask for the APK.
iOS: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds.
Ticket splitting: v0.6.0 beta released with improved fee calculation and multiple bug fixes.
docs: introduced new Governance section that grouped some old articles as well as the new Politeia page.
@Richard-Red created a concept repository sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals.
decred.org: 8 contributors added and 4 removed, including 2 advisors (discussion here).
decredmarketcap.com is a brand new website that shows the most accurate DCR market data. Clean design, mobile friendly, no javascript required.
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart)

Network

Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.

ASICs

Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design.
Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15.
FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25.
Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).

Integrations

www.d1pool.com joined the list of stakepools for a total of 16.
Australian CoinTree added DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges page at decred.org.
Two mobile wallets integrated Decred:
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?

Adoption

Merchants:

Marketing

Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here.
Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)

Events

Attended:
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)

Media

Decred Assembly episode 21 is available. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here.
New instructional articles on stakey.club: Decrediton setup, Deleting the wallet, Installing Go, Installing dcrd, dcrd as a Linux service. Available in both English and Portuguese.
Decred scored #32 in the August issue of Chinese CCID ratings. The evaluation model was explained in this interview.
Satis Group rated Decred highly in their cryptoasset valuation research report (PDF). This was featured by several large media outlets, but some did not link to or omitted Decred entirely, citing low market cap.
Featured articles:
Articles:
Videos:

Community Discussions

Community stats:
Comm systems news:
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
Highlights:
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1.
Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading.

Markets

DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery.
@ImacallyouJawdy posted some creative analysis based on ticket data.

Relevant External

StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury.
Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack).
Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups.
Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com.

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
submitted by jet_user to decred [link] [comments]

Two Months of ADOPTION! -- NANO accepted here! (5)

Adoption is crucial! Adoption is king!
INTRO 1 (Feb 24, 2018)
After two months of adoption we are counting at least 95 shops / options to spend NANO.
This means a current growth rate of 1.5 shops per day.
NANO has been accepted so far in the US, CZ, GER, UK, CAN, AUS, BRA, FRA, AT, NL, TUR -- Update: PH
UPDATED COUNTER: 115 shops / options — growth rate: 1.8 / day.
Dear shop owners, please display on your site, that customers can actually pay with NANO. A small sticker in a corner or at the bottom of the front page would be sufficient. I would like to learn about this payment option before having worked my way through to checkout. At the same time, this is a great opportunity to advertise NANO as a currency ... on more than 100 sites so far!
Examples: 1, 2, 3, 4. (Heck, where did I see that small simple NANO sign?)
NANO Media Kit - logos for websites, apps, etc., https://www.reddit.com/nanocurrency/comments/7wh5uz/nano_media_kit_logos_for_websites_apps_etc
NANO Wallpapers, https://www.nano-wallpapers.com
New shop? Please post below or PM me and link me to your NANO sign on your site.
INTRO 2
1) This is the follow-up on https://www.reddit.com/nanocurrency/comments/7x80wp/adoption_nano_accepted_here_4/
2) Please also find five other directories here:
a) USE NANO, https://usenano.org (bye, bye Spend RaiBlocks!)
b) RAIBLOCKS DIRECTORY, https://www.raiblocks.directory
c) Nano Acceptance on Google Maps, https://drive.google.com/open?id=1k8DqkaVf51xNr8l7bCUUQhJ23FJuQmnM&usp=sharing
d) all.things.nano, https://www.allthingsnano.net
e) NANO is FAST, https://nanoisfast.com/websites-accepting-nano-payments
The NANO Reddit Directory
NANO ACCEPTED HERE!, https://pbs.twimg.com/media/DR-79KSWAAAaisn.jpg
-- Hopefully in correct chronological order. -- Shop at your own risk!
Dec 24, 2017
1) Made by Docs, US, natural toothpaste, https://www.madebydocs.com (Were you #1?)
2) Josh’s Jungle!, US, salts & fresh peppers, https://www.joshjungle.com (Were you #1?)
3) Growing Opportunities International (GO!), US, donations, http://www.growingopportunitiesinternational.org/donate.html (Were you #1?)
4) BlockFevr, closed, https://blockfevr.com/game/dice/XRB
5) RaiGames, US, Social RaiBlocks Gambling, https://raigames.io/ -- (Be careful with gambling!) WARNING: https://www.reddit.com/RaiBlocks/comments/7qgxgl/raigamesdo_not_deposit_rai_warning/
6) RaiDots, US, game, https://www.raidots.live/faq
7) smallsound/bigsound, US, guitar pedals, http://www.smallsoundbigsound.com/pay-with-cryptocurrency
8) Medbooks.CZ, CZ, used medical books classifieds, https://www.medbooks.cz
9) Late Apex, US, T-Shirts, mugs, phone cases: https://late-apex-racing.com/pages/home-tracks
Jan 09, 2018
10) Naturkost Leiferde, GER, organic food, http://www.naturkost-leiferde.de
Jan 10, 2018
11) RauchRoad, US, sunglasses, https://rauchroad.com
12) headphones.com, US, headphones, https://www.headphones.com
What this shop has learned from accepting NANO: https://www.reddit.com/nanocurrency/comments/7x3qr1/headphonescom_started_accepting_nano_a_month_ago/
Jan 14, 2018
13) Wild und Frei – Headshop.de, GER, headshop, https://wildundfrei-headshop.de
14) Hitsteps, US, realtime website analytics, https://www.hitsteps.com
15) PexPeppers, US, hot sauce, https://www.pexpeppers.com
16) Rah Straps, CAN, handmade camera straps, http://rahstraps.bigcartel.com
17) The Series One Shop, AUS, parts for real Land Rovers, http://www.seriesoneshop.com
Jan 15, 2018
18) SF BMW CODING; US, BMW coding, https://www.sfbmwcoding.com/now-accepting-raiblocks
19) Scott Mills, US, art, http://scottmillsart.com
20) Desert Island Survival, US, desert island survival courses, http://www.desertislandsurvival.com
21) Sekerka Tomáš, CZ, art, http://sekerkatomas.cz
22) Lindleys Autocentres, UK, car services, https://www.lindleysautocentres.co.uk
23) Imaginaire Digital, UK, web design agency, https://www.imaginaire.co.uk
Source: http://www.nottinghampost.com/news/business/bitcoin-now-being-accepted-payment-1064600
Jan 16, 2018
24) Grow Kit, CAN, grow shop, https://thegrowkit.ca/faq
Jan 21, 2018
25) Half Moon Mods, US, vape shop, https://www.halfmoonmods.com
Jan 23, 2019
26) Vape Club International, Malaysian vape juices and e-liquids, https://vapeclubmy.com
27) XRB Life, US, buy anything from eBay with Raiblocks, https://shop.xrb.life
28) Doppel Store, Brasil, online store, https://www.doppelstore.com.br
29) DONGA, France, interior, https://www.donga.fr
30) Cryptodesign, US, cryptocurrency-related artwork, https://cryptodesigns.io
Jan 25, 2018
31) Fermentation Culture, AT, shop for Koji spores, http://www.fermentationculture.eu
32) Irische Nacht, GER, Irish music night, http://www.irische-nacht.rocks
33) Tony's Eliquid Co., US, vape lemonade flavors, https://tonyseliquid.com
34) Love At Every Sight, US, personalized cards and wine labels, https://loveateverysight.com/faq
Jan 26, 2018
35) PPC Protect, US, protection against click fraud, https://ppcprotect.com
36) EDGEWORTH, US, design company, https://edgeworthdesigncompany.com
37) D.o.A-C., Department of Art-Cryptomancy, US, Cryptomancy is, generally, a magical act intended to interface with the blockchain. This is not done simply for financial gain, but in fact more generally: to steward mystical and numinous interactions with the blockchain. http://www.doac.us
Jan 27, 2018
38) ACL CREATIVE STUDIO, US, film and book distribution, branding, editorial design, http://aclcreativestudio.com
Jan 29, 2018
The Copper Hat, CAN, quality wet shaving supplies, https://thecopperhat.ca
Jan 30, 2018
39) Domein-Direct, NL, webhosting & more, http://www.domein-direct.com
Jan 31, 2018
40) WK|END EYEWEAR, US, party sunglasses, https://wkend.club
Feb 2, 2018
41) Crypto Audio Club, US, erphones & erbuds, https://cryptoaudio.club
Feb 5, 2018
42) Brisbane Tech Repairs, AUS, Brisbane's first cryptocurrency friendly IT service!, http://www.brisbanetechrepairs.com
43) Online language teacher, https://www.reddit.com/nanocurrency/comments/7vetnx/i_am_an_online_language_teacher_and_i_accept_nano
44) NanoMerch.net, US, NANO merchandise, http://nanomerch.net
45) Bitcoin Psychic, US, live psychic readings by phone, text and chat, https://bitcoinpsychic.wixsite.com/bitcoinpsychic
Feb 12, 2018
46) LUCKY NANO, US, online poker, https://www.luckynano.com
47) LEYLAND, US, women's activewear, https://www.leyland.com
Feb 13, 2018
48) MEMTO, NL, personally made memorials, http://www.memto.nl
49) GPS Tracking Made Easy, US, GPS tracking devices for regular people and small businesses, https://gpstrackingmadeeasy.com
50) Korbinian Vogt, GER, special photo prints, https://korbinianvogtprint.com
Feb 14, 2108
51) SomaVita, US, ElevatePlus, supplement, https://www.somavitasupplements.com
Feb 16, 2018
52) Textracto, US, turns articles into data, https://textracto.com
53) CUT ALL THE SHIT, US, bullshit-free web hosting company, https://www.cutalltheshit.com
54) AZEWATE, TUR, metalworks shop, https://azewate.com
Feb 18, 2018
55) SLYDEV, AUS, 3D printed nerf accessories, https://www.slydev.com.au
Feb 19, 2018
56) The Milk Road, US, coffee roaster, https://www.milkroadcoffee.com
57) Work for NANO, US, Make It, Sell It And Earn Nano, http://www.workfornano.com
Feb 23, 2018
58) 1up coin, Accept Cryptocurrencies on your Stream! By using Twitch/YouTube, StreamLabs/StreamElements & Coinbase APIs we make it easy for you to accept Cryptocurrency donations!, https://1upcoin.com
59) NanoTwit.ch, NanoTwit.ch is a service for Twitch streamers and their viewers. https://nanotwit.ch
60) NANO THINGS, US, everything NANO, https://nanothings.store
Feb 24, 2018
61) Pure Nootropics, US, pure nootropics, https://www.purenootropics.net
62) STRUCTGLASS, AUS, Australia’s safest structural glass balustrade system, https://structglass.com.au
63) Daniel R. Treccia, US, Innovative Books in Sports Performance and Exercise Immunology, http://danieltreccia.com
Feb 25, 2018
64) Mentevagante, freelance artist and musician, https://www.reddit.com/Art/comments/7zg09v/that_look_ballpoint_pen_15x21/
65) Hamburg Maths Tutors, GER, Hamburg Maths Tutors, http://www.hamburgmathstutors.com
66) Digital Media Design, UK, digital media design, http://iinde.com
67) OB Club, US, non-profit medical marijuana delivery service, https://organicbudclub.com
68) Blade + Brow, US, Korean 6D Nanoblading (;-)), freckling, and hairlines, https://www.bladenbrow.com
69) Voetbal Quiz, NL, online football quizzes (in Dutch), http://www.voetbalquizkopen.nl
70) Cryptogirls, US, sexy shows, http://cryptogirls.live
Feb 26, 2018
71) Guess Winner, sports bets, https://guesswinner.com
March 01, 2018
72) Cryptimber, UK, NANO wood art, https://cryptimber.co.uk
March 02, 2018
73) Wit Working, BRA, coworking space in shared environments, https://www.witworking.com
74) Moriarti Watches, US, watches, https://moriartiwatches.com
75) VPN Into China, VPN service to access chinese websites with ip restrictions in China, https://vpnintochina.com
March 03, 2018
76) Laser Trees, US, jewelery, http://lasertrees.com
77) Kaizen, GER, sports socks, https://kaizen-sports.de
78) Healthy Harvest, US, hydroponics and horticultural supplies, https://www.healthyharvest.com
79) Be A Little Chaotic, US, T-shirts, hats, https://bealittlechaotic.com
80) NANO is FAST, US, "PAY WITH NANO" stickers, https://nanoisfast.com
March 04, 2018
81) CoinSpec, US, hardware wallets, https://coinspec.net
82) Gecko Vapes, UK, Vaping and E-Liquids, https://geckovapesco.com
83) Sara Carli, US, art, contemporary realism in oil, https://saracarli.com
84) Black Block Research, US, 'On-Chain Investment Intelligence', research, analysis and insights into the cryptocurrency markets, https://blackblockresearch.com
85) Luckygames, US, gambling, https://luckygames.io
86) ThinkHODL, US, crypto merchandise, https://thinkhodl.com
87) Canadian Bitcoin Giftcard, CAN, electronic gift cards, https://canadianbitcoingiftcard.ca
March, 10, 2018
88) PINOY GAME STORE, PH, online game store, http://www.pinoygamestore.com
89) mae., US, websites: design & branding, http://designedbymae.com
March 12, 2018
90) Shillshack, Crypto Decals and T-Shirts, US, https://shillshack.com
DOCUMENTED PURCHASES with RaiBlocks
Jan 4, 2018
First recorded purchase with XRB/NANO: — 1 XRB bought 1 jar of toothpaste!
https://www.reddit.com/RaiBlocks/comments/7nya51/it_feels_good_to_support_companies_taking_a
Jan 11, 2018
Second recorded purchase with XRB/NANO: — 2 shock absorbers for a Land Rover for 1.5 XRB
(see comment below)
Jan 12, 2018
Third recorded purchase with XRB/NANO: — First album ever sold for XRB/NANO,
https://www.reddit.com/RaiBlocks/comments/7ps861/accepting_xrb_for_my_album_mistakes_made_carefully/
Jan 20, 2018
Purchase #4 and #5: It's toothpaste and peppers! https://imgur.com/a/kIVy7
https://www.reddit.com/RaiBlocks/comments/7pc8ot/made_a_couple_of_really_cool_purchases_with
Jan 20, 2018
Purchase #6: -- It's sunglasses!
https://www.reddit.com/RaiBlocks/comments/7rqae9/buyrai_rauchroad_unboxing_and_review
Jan 22, 2018
Purchase #7 -15: "So far there have been 8 or 9 successful XRB payments" for hot sauces: https://www.reddit.com/RaiBlocks/comments/7s23lh/just_got_my_first_physical_xrb_purchase
Jan 26, 2018
Purchase #16: vape lemonade flavors, https://www.reddit.com/RaiBlocks/comments/7t7com/just_made_my_first_ever_payment_with_xrb_could
VIDEOS
Documenting purchases with RaiBlocks: https://www.youtube.com/watch?v=pQ1jQs2GxBU
MARKETPLACES
Jan 21, 2018
1) RAI MARKETPLACE, RaiBlocks MarketPlace, https://raimarketplace.com
Jan 23, 2018
2) BlockVerse, RaiBlocks MarketPlace, https://blockverse.io
3) BITLIT, open marketplace for buying and selling items/services online, https://bitlit.io
4) NANO LISTING, US, marketplace where you can list goods and services for NANO, https://www.nanolisting.com
5) OpenBazaar, Planning stage, https://www.reddit.com/RaiBlocks/comments/7s2uvi/the_openbazaar_peertopeer_marketplace_is_looking
GAMES & APPS
1) Ymir, US, multiplayer game, https://ymir-online.com
2) KeeperRl, ambitious dungeon builder with roguelike elements, http://keeperrl.com
3) CoinAudit, US, CryptoCurrency App, https://coinaudit.us
4) RaiBlocks App, US, Price, Graph, News, https://itunes.apple.com/us/app/raiblocks/id1334362676?mt=8
RENT, REAL ESTATE
1) First rent paid with RaiBlocks: https://www.reddit.com/RaiBlocks/comments/7olpeg/rent_in_raiblocks
ITALY, SPAIN, ARGENTINA, INDIA, JAPAN, KOREA, DUBAI, SINGAPORE, ... AFRICA, ...
Anyone out there?
INFRASTRUCTURE
1) RaiPay -- The first payment gateway for Raiblocks: https://raipay.io
Related AMA: https://www.reddit.com/RaiBlocks/comments/7pwn2z/im_archseer_one_of_the_developers_behind_raipayio
2) RaiWire -- The aim of RAIWIRE is to provide a service that makes integration as easy as possible for webshop merchants: http://raiwire.com
Please find detais here: https://www.reddit.com/RaiBlocks/comments/7qbmp7/i_have_been_working_on_a_payment_processor
3) GetXRB Start accepting RaiBlocks payments for your business -- GetXRB is an API for generating XRB invoices on the fly. -- https://www.getxrb.com
4) RaiPay for WooCommerce, WooCommerce payment gateway plugin that allows your customers to pay with RaiBlocks via RaiPay, https://github.com/coenjacobs/raipay-woocommerce
5) BrainBlocks, simple checkout for RaiBlocks, https://brainblocks.io
6) DoRaiMe, simple RaiBlocks donations. https://doraime.com
7) More: https://www.reddit.com/RaiBlocks/comments/7pxtns/hi_i_did_nothing_special_for_this_community_but
8) RaiBlocks Charts: http://raiblocks-charts.herokuapp.com/
9) BrainBlocks Shopware Integration, https://www.reddit.com/RaiBlocks/comments/7rzkgh/brainblocks_shopware_integration
10) ArrowPay. Use ArrowPay's prebuilt plugins and tools to quickly and easily start accepting RaiBlocks on your website. https://arrowpay.io
11) Vaulty, one link for all accepted cryptos on your site, https://www.vaulty.io
12) python based program that displays the merchant's receive address as a QR code for the customer to scan, as well as displaying the transaction details in both FIAT and Crypto. More details: https://www.reddit.com/nanocurrency/comments/80ddbl/i_wrote_a_program_to_make_accepting/
Coming soon
Yuta, providing elegant cryptocurrency payments, https://yutapay.com
Regular edits & updates.
Please let me know, in case I have forgotton anyone. Thanks.
Donations: xrb_3jgzh1tx5w9zbtjn5qcf8qe33digeof6ika494iencomzmxer9jc88dngrz4
submitted by Koba7 to nanocurrency [link] [comments]

The truth about Bitfinex and Tether...

EDIT: I realize this is long, but I feel it's important to have this info out there. Maybe save it for later when you see this narrative being pushed around so you can come back and get the other side.
EDIT 2: TL:DR - Most negative analysis on this sub lately of Tether are likely from a single biased source that stretches a lot to make his points, and there is simply not enough Tether in the market nor is it concentrated enough to create a catastrophic problem or significant inflation for any USDT currency pair.
Like many of you, I have heard the stories and posts about the fraudulent tether, I trade in this space on many exchanges and the growing concern is worrying, so I did my due diligence, and I would like to share it with the community.
First and most importantly IMO, all this controversy stems from just one account/person. A person on twitter going by the handle @Bitfinexed - https://twitter.com/Bitfinexed
Here you can see this person's writings - https://medium.com/@bitfinexed/latest
Spoofy, Tethers and institutional investors are what they contend to be the lies and fraud, AND that this entire rally in 2017 is based on fraudulent Tethers and spoofing, and that this will implode the markets.
I feel this is also important… Turns out this person sold at $1000, maybe the real reason he is on this mission??… https://twitter.com/whalepool/status/896460700461277185
Now for some troubling info, the majority of this narrative (FUD??) here on Reddit in the last month come from just three accounts.
https://www.reddit.com/useAtlasRand1/submitted/
https://www.reddit.com/usecetusfund/submitted/
https://www.reddit.com/useAnythingForSuccess
As you can see these accounts entire mission is to post constantly about this. They all show up on the other’s post to comment regularly.
Btw, some people on the pro-finex side think this is a smear campaign from other exchanges. I don’t believe this to be the case. This person(s) only talk about TetheFinex, yet Tether is used and traded by the $millions daily on 3 of the top 5 exchanges, Finex, Bittrex, Polo, yet never a word about those other exchanges. (Check the USDT volume on other exchanges) https://coinmarketcap.com/assets/tethe#markets
Therefore, if it is an exchange, it isn’t Trex/Polo because this would affect them as well. If it was an exchange other than Trex/Polo they would have plenty of fire power against 3 of the top 5 exchanges with Tether fraud.
This leads me to believe it is most likely a sad person(s) with an ax to grind. They might have lost their $ on Finex to what they believe are spoofers/fraud and or they were part of the finex hack and sold there BFX too early.
Btw I see contention that Bitfinex did NOT pay back the $ from the hack. They did, but some people are mad because they sold BFX early and didn’t recoup full $ amount from haircuts, but that was their decision.
~ POINTS OF CONTENTION
SPOOFING This is what set my alarm bells off about these articles I read from Bitfinexed. Specifically spoofing… https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
and this nugget…“And who the hell is going to go margin long so dramatically after a huge crash?” from this article… https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
Claiming spoofing shows this person has limited markets/trading knowledge. Clearly they haven’t watched an order book of any exchange in crypto, equities, or Forex.
This is called scalping or scare walls. Again this is done in every market around the globe.
Here is a professional FOREX trader talking about scalping, how it works, who/why they do it. https://www.youtube.com/watch?v=EYMIPmgRb_M&list=WL&index=94
TL;DW - they do this to get the price where they want it because they know people are watching the order book (the video is quite enlightening), and the key point that keeps this from being an illegal activity (on regulated exchanges) is THAT THEY DO MAKE TRADES FOR THOSE SIZES eventually. This doesn’t always work and they get stuck in these positions. Risk/reward.
The ironic part about this spoofing idea is Finex is one of the few, if not only exchanges, that offer hidden orders. So people trying to scalp always have to worry if there is a monster hidden order lurking.
Go to the UPDATE: AUGUST 7TH of this story and watch the video he claims proves spoofing and Phil Potter admitting it in the voice over. https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
I see nothing wrong with what Phil says and no proof of anything in the video. Again this is true on every exchange trading anything of volume in the world. People with large amounts of money move markets, oh the horror. I “technically” do this when I place an order and pull it for whatever reason (scared, mistake, etc.) just not in large sums, but I would if I had large sums.
“And who the hell is going to go margin long so dramatically after a huge crash?” The crash they are referring to is from the early June ATH to the mid-July correction. A 45-day crash? Well, I am one of those people that went margin long. And many many others who read charts, resistance, support, retracement info. Again, this smacks of someone who doesn’t know what they are talking about.
REASON FOR PRICE RISE/BTC GOES UP WHEN TETHERS ARE CREATED
This is absurd. This completely negates everything else, the Japanese currency ruling and them entering the market, Koreans coming into the market in a huge way (they now have the largest exchange by far with close to a Billion traded DAILY, oh and they don’t use Tether at all), the successful hard fork, or the more (positive!) interest from the media and people than ever before in BTC history.
Instead, we are supposed to think that $395 million dollars of tethers are the reason for this rise in a $160+ Billion market cap. 
C’mon people! Look at that volume for the last 30 days. https://imgur.com/a/vKJ5g Also, the overwhelming majority of trade does not exist in Tether but KRW, CNY, USD, JPY.
Tethers are usually created when extra liquidity is needed, be it a crash or a spike. Because more people are trading.
They try to prove Tether boosts the market with this picture in their article. https://imgur.com/a/274SE
The problem is 2 of the last 3 tether dumps coincide with a downturn. In fact, there is nothing in this graph that proves this theory. Also, the last tether dump/price rise coincides perfectly with the news of the majority of miners signaling segwit2x for the first time (search bitcoin or btc around that date).
So do you think the market traded billions of $ at that time because of a $50 million Tether dump or because for the first time in YEARS a solution and path forward became visible??
THEY DON’T HAVE BANKING//NO INSTITUTIONAL INVESTORS/FAKE TETHERS-TERMS OF SERVICE
In regards to banking, clearly they have some kind of banking and a way for large amounts of fiat to get in and out. The banking is not for you and me but for regional bitcoin exchanges and other large customers.
You know how I know this? If they didn’t the internet would be flooded with Finex withdrawal issues, there would be a price premium on Bitfinex compared to other exchanges, just like Mt. Gox had for so long and also Bitfinex earlier in the year when the banking issues started.
This article explains it very clearly (seriously read this article), it has nothing to do with this controversy, just the banking issue in April.
https://medium.com/@Austerity_Sucks/why-bitfinex-went-from-a-premium-in-its-crypto-usd-pairs-to-now-a-significant-discount-e7be193d7cb0
TL;DR - All of the imbalances discussed (Finex premium) have been a result of USD frictions into Bitfinex. It has been a chain reaction resulting from the initial freeze to the various gradual withdrawal options. As soon as Bitfinex conclusively addresses the USD flow issues, the crypto pair prices will normalize (which they did) with other exchanges that don’t have banking frictions and USDT price will return to par (which it did).
The premiums on Finex and Tether are what would prove something is wrong, yet they are not here. Surprisingly Finex has been at a discount to GDAX and GEMINI recently. Meaning people are willing to take a loss on prices to be able to lend on Finex. This too will normalize as people/bots arb.
Aug 9th… From “arguably” bank fraud https://twitter.com/Bitfinexed/status/895339675120013313
Aug 22nd…. To “admitting” bank fraud https://twitter.com/Bitfinexed/status/900230917196836864
Listen to that audio in the second link, listen carefully. His explanation is perfectly reasonable. Banks don’t work well, consistently, or at all with crypto related companies (marijuana companies too for that matter) especially in jurisdictions that are outside US/Europe. Surprise surprise, this is nothing new. When they find out customers, deposits/wire are cryptos related they pull the plug (a reason why Trex/Polo don’t mess with USD).
Also, they gave their customers a haircut, probably a lot of complaints about the hack to Wells Fargo and other banks. These are the correspondent's banks, not Finex’s, they have banking. This is how they can receive large institutional deposits and withdrawals. Which I bet make up the majority of the fiat deposits and withdrawals.
Classic 80/20 business rule, 20% of your clients are providing 80% of the liquidity plus you are having banking issues (which is expected in crypto-land), so you cut this service to the 80% saving time/resources/headaches for the 20% loss in a single service to them (no fiat withdrawal/deposits- but crypto flows in and out with ease).
Again if they weren’t able to get money in and out there would be a premium, there would be a long line of complaints online. I have no reason (or proof) to believe that money is NOT coming into/out of the exchange.
It makes total sense too, they are the best lending platform, have one of the most liquid exchanges, and have by far the most reliable and best software/servers/UI/order options. You cannot deny this fact, they are constantly a top 3 exchange in volume, even after a hack.
I use Finex (as well as others) because of all those things. Also, they have already been hacked, a second hack seems less likely (IMO, they have more to lose with another hack). They have many big events on the horizon (Ethfinex). Would a company be putting resources into these things if this is all fraud or an exit scam? I find that unlikely. Is this 100% full proof? Of course not, nothing is, especially in crypto, just my reasons for trading there.
Institutional Investors - https://medium.com/@bitfinexed/are-legitimate-institutional-investors-really-coming-onto-bitfinex-s-platform-i-don-t-think-so-cb4ed5175092 Here is what this person doesn’t comprehend, what if these institutional investors are… you ready… here it comes… other exchanges that use Tether, as well as other crypto related businesses. It is only $395 million Tethers. These exchanges (Trex, Finex, Polo) are printing money.
This isn’t “someone” with 100’s of millions of dollars as the article suggests, it’s many people with millions/thousands of dollars. Again this all ignores the fact that many more people have entered the ecosystem this year. This is proven by Coinbase growth, transaction growth, and exchange growth (both in volume and # of exchanges), and growth in crypto-related sub-Reddits.
Yet Bitfinexed is shocked that lending hits ATH’s, but it is perfectly explainable and reasonable based on the evidence and data of gthe ecosystem. Let us not forget BTC is a finite amount, more people are going to increase demand/price, if you think this is a bubble... you haven’t seen anything yet.
The TOS are sketchy and a point of concern but there are two things to keep in mind- It was necessary to word it that way, and the market clearly doesn’t care.
If they had worded it that they will redeem no matter what, they would have money launderers flocking to the service (bogging down resources), plus law enforcement knocking.
Tethers weren’t created to get $ in/out of crypto but to provide a safe haven and liquidity on exchanges that don’t use USD. And I would say they are working perfectly. Very few are withdrawing USDT for USD.
I think it is precisely because of what the co-founder of tether refers to here (and below)… “If you want to convert USD₮ into fiat currency (or vice-versa) at tether.to, you must go through the whole “aggressive” KYC/AML process and get verified. I’ve heard from many who tried and were unable to provide sufficient documentation. Tether’s KYC/AML policies were written by experienced compliance officers and it’s critical that it be done properly and with diligence. It really is about “knowing your customer” and making sure that their uses are legitimate.” This is a perfectly reasonable explanation why people are not lining up to cash out of Tether, and also why large/reputable institutions can (exchanges, investors, etc.).
TETHERS REPLY TO ALL THIS, PLUS UPCOMING AUDIT https://tether.to/tether-update/
Now ask yourself this, would a company that is operating fraudulently have a roadmap of all these new features that no one will ever use if they don’t provide these promised audits as they say they will by the end of the year?
So as of now they have enough runway until the end of the year. I say we give TetheFinex the benefit of the doubt.
While Tether could be operating fractionally (so to could any exchange in crypto btw), there is no proof or evidence of it today. It trades at normalized rates. You can’t just create 100’s of million of dollars without the marketing realizing somewhere.
Sure, you can say this is a confidence game, but so is crypto, so is the USD, so is the concept of money. I see no reason to be more concerned with this risk than the already risky environment we trade in with exchanges.
WHAT IF I”M WRONG? CRYPTO WILL IMPLODE!
No it won’t. Sure there will be a dip maybe even a correction, but there are only 395 million Tethers. People will get out of Tether even at massive discounts (until $0) into crypto because they can’t get USD, but not more than the 395 million tethers circulating (at this time).
At a certain discount people will understand what is going on and stop trading for Tether. BTC + ETH is worth over $100 billion, how many time does the entire amount of USDT have to turn over to cause a massive crash?
What will get hit the hardest are the people left holding tether (if/when they implode) and Trex/Polo/Finex.
To think Polo/Trex would rely so much on USDT that they didn’t fully vet it is absurd as well. Whats more likely, Polo/Trex’s due diligence or this @Bitfinexed person based on conjecture?
I’ve already seen a Forbes contributor try and get ahold of Bitfinexed on twitter. https://twitter.com/laurashin/status/894437272241569792
Could I be wrong about all of this??? Of course, but, I feel I have provided more evidence than the other side. You are the Judge :)
USEFUL INFO
Some from u/udecker - Tether co-founder
Tether.to is who has the backing for the token, not Bitfinex. Bitfinex is a customer of Tether. If Bitfinex wants more Tether, they make a request to Tether, just like all other Tether customers. Tether waits for USD to show up, and when it does, creates the necessary tethers and credits Bitfinex. They both have Tawainese banking so money can flow back and forth easily. (The banking industry in the country of Taiwan are under scrutiny lately because of larger legal issues not involving crypto, but clearly affecting crypto companies)
https://wallet.tether.to/transparency
Tether wasn’t designed to be a profit machine. It was designed to be a utility for the crypto community to provide a stable token (with all the benefits of this). Tether’s business model is this: 1. Generate fees from wire deposits and withdrawals and conversions. 2. Interest income on the reserve.
Bitfinex’s parent company owns a 20% stake in Tether.
People say Tether isn’t being burned. But they are being recycled which is/was always an option.
I hope we can have a productive conversation around this without the usual Gox 2.0, sell it all, Bitfinex is the anti-christ comments with no substance. Give us your opinion and perspective because maybe I am missing something… but, maybe you are too.
This was quite time consuming (just ask my kids and boss, lol) So if you found this info helpful you can donate if you’d like here, if not, no biggie smalls :)
ETH - 0x0181D1C82229BAD741BB6c302ae523aE6DC9a1EE
BTC - 14Wz4SCuKwa81UBh1U7mcaCTxMsYLLuGZK
BCH- 16uby9gW79tjn5guQG8v5mTsdu6V6cYyKF
submitted by bhdgsetyf to CryptoCurrency [link] [comments]

ADOPTION! -- NANO accepted here (4)

Adoption is crucial! Adoption is king!
NANO Central: all.things.nano, https://www.allthingsnano.net
SUMMARY (Feb 12, 2018)
After six weeks of adoption we are counting at least 82 shops / options to spend NANO.
This means a current growth rate of 1.7 shops per day.
NANO has been accepted so far in the US, CZ, GER, UK, CAN, AUS, BRA, FRA, AT, NL -- update: TUR.
UPDATED COUNTER: 93 shops / options — growth rate: 1.5 / day.
New shop? Please post below or PM me and link me to your NANO sign or NANO mention on your site.
INTRO
1) This is the follow-up on https://www.reddit.com/RaiBlocks/comments/7suvwd/one_month_of_adoption_raiblocks_accepted_here_3/
2) Please also find three other directories here:
a) Spend RaiBlocks, https://www.spendraiblocks.com
b) RAIBLOCKS DIRECTORY, https://www.raiblocks.directory
c) Nano Acceptance on Google Maps, https://drive.google.com/open?id=1k8DqkaVf51xNr8l7bCUUQhJ23FJuQmnM&usp=sharing
3) Since I cannot verify, if the stores / sites on Spend RaiBlocks and RAIBLOCKS DIRECTORY really accept NANO, I have only listed those that claim so on their website or in their actual store window. -- So we might actually have more shops / options!
NANO Media Kit - logos for websites, apps, etc., https://www.reddit.com/nanocurrency/comments/7wh5uz/nano_media_kit_logos_for_websites_apps_etc
The NANO Reddit Directory
NANO ACCEPTED HERE!, https://pbs.twimg.com/media/DR-79KSWAAAaisn.jpg
-- Hopefully in correct chronological order. -- Shop at your own risk!
Dec 24, 2017
1) Made by Docs, US, natural toothpaste, https://www.madebydocs.com (Were you #1?)
2) Josh’s Jungle!, US, salts & fresh peppers, https://www.joshjungle.com/buy-with-crypto (Were you #1?)
3) Growing Opportunities International (GO!), US, donations, http://www.growingopportunitiesinternational.org/donate.html (Were you #1?)
4) BlockFevr, closed, https://blockfevr.com/game/dice/XRB
5) RaiGames, US, Social RaiBlocks Gambling, https://raigames.io/ -- (Be careful with gambling!) WARNING: https://www.reddit.com/RaiBlocks/comments/7qgxgl/raigamesdo_not_deposit_rai_warning/
6) RaiDots, US, game, https://www.raidots.live/faq
7) smallsound/bigsound, US, guitar pedals, http://www.smallsoundbigsound.com/pay-with-cryptocurrency
8) Medbooks.CZ, CZ, used medical books classifieds, https://www.medbooks.cz
9) Late Apex, US, T-Shirts, mugs, phone cases: https://late-apex-racing.com/pages/home-tracks
Jan 09, 2018
10) Naturkost Leiferde, GER, organic food, http://www.naturkost-leiferde.de
Jan 10, 2018
11) RauchRoad, US, sunglasses, https://rauchroad.com
12) headphones.com, US, headphones, https://www.headphones.com
What this shop has learned from accepting NANO: https://www.reddit.com/nanocurrency/comments/7x3qr1/headphonescom_started_accepting_nano_a_month_ago/
Jan 14, 2018
13) Wild und Frei – Headshop.de, GER, headshop, https://wildundfrei-headshop.de
14) Hitsteps, US, realtime website analytics, https://www.hitsteps.com
15) PexPeppers, US, hot sauce, https://www.pexpeppers.com
16) Rah Straps, CAN, handmade camera straps, http://rahstraps.bigcartel.com
17) The Series One Shop, AUS, parts for real Land Rovers, http://www.seriesoneshop.com
Jan 15, 2018
18) SF BMW CODING; US, BMW coding, https://www.sfbmwcoding.com/now-accepting-raiblocks
19) Scott Mills, US, art, http://scottmillsart.com
20) Desert Island Survival, US, desert island survival courses, http://www.desertislandsurvival.com
21) Sekerka Tomáš, CZ, art, http://sekerkatomas.cz
22) Lindleys Autocentres, UK, car services, https://www.lindleysautocentres.co.uk
23) Imaginaire Digital, UK, web design agency, https://www.imaginaire.co.uk
Source: http://www.nottinghampost.com/news/business/bitcoin-now-being-accepted-payment-1064600
Jan 16, 2018
24) Grow Kit, CAN, grow shop, https://thegrowkit.ca/faq
Jan 21, 2018
25) Half Moon Mods, US, vape shop, https://www.halfmoonmods.com
Jan 23, 2019
26) Vape Club International, Malaysian vape juices and e-liquids, https://vapeclubmy.com
27) XRB Life, US, buy anything from eBay with Raiblocks, https://shop.xrb.life
28) Doppel Store, Brasil, online store, https://www.doppelstore.com.br
29) DONGA, France, interior, https://www.donga.fr
30) Cryptodesign, US, cryptocurrency-related artwork, https://cryptodesigns.io
Jan 25, 2018
31) Fermentation Culture, AT, shop for Koji spores, http://www.fermentationculture.eu
32) Irische Nacht, GER, Irish music night, http://www.irische-nacht.rocks
33) Tony's Eliquid Co., US, vape lemonade flavors, https://tonyseliquid.com
34) Love At Every Sight, US, personalized cards and wine labels, https://loveateverysight.com/faq
Jan 26, 2018
35) PPC Protect, US, protection against click fraud, https://ppcprotect.com
36) EDGEWORTH, US, design company, https://edgeworthdesigncompany.com
37) D.o.A-C., Department of Art-Cryptomancy, US, Cryptomancy is, generally, a magical act intended to interface with the blockchain. This is not done simply for financial gain, but in fact more generally: to steward mystical and numinous interactions with the blockchain. http://www.doac.us
Jan 27, 2018
38) ACL CREATIVE STUDIO, US, film and book distribution, branding, editorial design, http://aclcreativestudio.com
Jan 29, 2018
The Copper Hat, CAN, quality wet shaving supplies, https://thecopperhat.ca
Jan 30, 2018
39) Domein-Direct, NL, webhosting & more, http://www.domein-direct.com
Jan 31, 2018
40) WK|END EYEWEAR, US, party sunglasses, https://wkend.club
Feb 2, 2018
41) Crypto Audio Club, US, erphones & erbuds, https://cryptoaudio.club
Feb 5, 2018
42) Brisbane Tech Repairs, AUS, Brisbane's first cryptocurrency friendly IT service!, http://www.brisbanetechrepairs.com
43) Online language teacher, https://www.reddit.com/nanocurrency/comments/7vetnx/i_am_an_online_language_teacher_and_i_accept_nano
44) NanoMerch.net, US, NANO merchandise, http://nanomerch.net
45) Bitcoin Psychic, US, live psychic readings by phone, text and chat, https://bitcoinpsychic.wixsite.com/bitcoinpsychic
Feb 12, 2018
46) LUCKY NANO, US, online poker, https://www.luckynano.com
47) LEYLAND, US, women's activewear, https://www.leyland.com
Feb 13, 2018
48) MEMTO, NL, personally made memorials, http://www.memto.nl
49) GPS Tracking Made Easy, US, GPS tracking devices for regular people and small businesses, https://gpstrackingmadeeasy.com
50) Korbinian Vogt, GER, special photo prints, https://korbinianvogtprint.com
Feb 14, 2108
51) SomaVita, US, ElevatePlus, supplement, https://www.somavitasupplements.com
Feb 16, 2018
52) Textracto, US, turns articles into data, https://textracto.com
53) CUT ALL THE SHIT, US, bullshit-free web hosting company, https://www.cutalltheshit.com
54) AZEWATE, TUR, metalworks shop, https://azewate.com
Feb 18, 2018
55) SLYDEV, AUS, 3D printed nerf accessories, https://www.slydev.com.au
Feb 19, 2018
56) The Milk Road, US, coffee roaster, https://www.milkroadcoffee.com
Feb 23, 2018
57) 1up coin, Accept Cryptocurrencies on your Stream! By using Twitch/YouTube, StreamLabs/StreamElements & Coinbase APIs we make it easy for you to accept Cryptocurrency donations!, https://1upcoin.com
58) NanoTwit.ch, NanoTwit.ch is a service for Twitch streamers and their viewers. https://nanotwit.ch
DOCUMENTED PURCHASES with RaiBlocks
Jan 4, 2018
First recorded purchase with XRB/NANO: — 1 XRB bought 1 jar of toothpaste!
https://www.reddit.com/RaiBlocks/comments/7nya51/it_feels_good_to_support_companies_taking_a
Jan 11, 2018
Second recorded purchase with XRB/NANO: — 2 shock absorbers for a Land Rover for 1.5 XRB
(see comment below)
Jan 12, 2018
Third recorded purchase with XRB/NANO: — First album ever sold for XRB/NANO,
https://www.reddit.com/RaiBlocks/comments/7ps861/accepting_xrb_for_my_album_mistakes_made_carefully/
Jan 20, 2018
Purchase #4 and #5: It's toothpaste and peppers! https://imgur.com/a/kIVy7
https://www.reddit.com/RaiBlocks/comments/7pc8ot/made_a_couple_of_really_cool_purchases_with
Jan 20, 2018
Purchase #6: -- It's sunglasses!
https://www.reddit.com/RaiBlocks/comments/7rqae9/buyrai_rauchroad_unboxing_and_review
Jan 22, 2018
Purchase #7 -15: "So far there have been 8 or 9 successful XRB payments" for hot sauces: https://www.reddit.com/RaiBlocks/comments/7s23lh/just_got_my_first_physical_xrb_purchase
Jan 26, 2018
Purchase #16: vape lemonade flavors, https://www.reddit.com/RaiBlocks/comments/7t7com/just_made_my_first_ever_payment_with_xrb_could
VIDEOS
Documenting purchases with RaiBlocks: https://www.youtube.com/watch?v=pQ1jQs2GxBU
MARKETPLACES
Jan 21, 2018
1) RAI MARKETPLACE, RaiBlocks MarketPlace, https://raimarketplace.com
Jan 23, 2018
2) BlockVerse, RaiBlocks MarketPlace, https://blockverse.io
3) BITLIT, open marketplace for buying and selling items/services online, https://bitlit.io
4) NANO LISTING, US, marketplace where you can list goods and services for NANO, https://www.nanolisting.com
5) OpenBazaar, Planning stage, https://www.reddit.com/RaiBlocks/comments/7s2uvi/the_openbazaar_peertopeer_marketplace_is_looking
GAMES & APPS
1) Ymir, US, multiplayer game, https://ymir-online.com
2) KeeperRl, ambitious dungeon builder with roguelike elements, http://keeperrl.com
3) CoinAudit, US, CryptoCurrency App, https://coinaudit.us
4) RaiBlocks App, US, Price, Graph, News, https://itunes.apple.com/us/app/raiblocks/id1334362676?mt=8
RENT, REAL ESTATE
1) First rent paid with RaiBlocks: https://www.reddit.com/RaiBlocks/comments/7olpeg/rent_in_raiblocks
ITALY, SPAIN, ARGENTINA, INDIA, JAPAN, TURKEY, DUBAI, SINGAPORE, ... AFRICA, ...
Anyone out there?
INFRASTRUCTURE
1) RaiPay -- The first payment gateway for Raiblocks: https://raipay.io
Related AMA: https://www.reddit.com/RaiBlocks/comments/7pwn2z/im_archseer_one_of_the_developers_behind_raipayio
2) RaiWire -- The aim of RAIWIRE is to provide a service that makes integration as easy as possible for webshop merchants: http://raiwire.com
Please find detais here: https://www.reddit.com/RaiBlocks/comments/7qbmp7/i_have_been_working_on_a_payment_processor
3) GetXRB Start accepting RaiBlocks payments for your business -- GetXRB is an API for generating XRB invoices on the fly. -- https://www.getxrb.com
4) RaiPay for WooCommerce, WooCommerce payment gateway plugin that allows your customers to pay with RaiBlocks via RaiPay, https://github.com/coenjacobs/raipay-woocommerce
5) BrainBlocks, simple checkout for RaiBlocks, https://brainblocks.io
6) DoRaiMe, simple RaiBlocks donations. https://doraime.com
7) More: https://www.reddit.com/RaiBlocks/comments/7pxtns/hi_i_did_nothing_special_for_this_community_but
8) RaiBlocks Charts: http://raiblocks-charts.herokuapp.com/
9) BrainBlocks Shopware Integration, https://www.reddit.com/RaiBlocks/comments/7rzkgh/brainblocks_shopware_integration
10) ArrowPay. Use ArrowPay's prebuilt plugins and tools to quickly and easily start accepting RaiBlocks on your website. https://arrowpay.io
11) Vaulty, one link for all accepted cryptos on your site, https://www.vaulty.io
Coming soon
Medical MJ: https://www.reddit.com/RaiBlocks/comments/7orrtj/for_the_love_of_god_someone_help_me_accept_rai_on
Yuta, providing elegant cryptocurrency payments, https://yutapay.com
Regular edits & updates.
Please let me know, in case I have forgotton anyone. Thanks.
Donations: xrb_3jgzh1tx5w9zbtjn5qcf8qe33digeof6ika494iencomzmxer9jc88dngrz4
submitted by Koba7 to nanocurrency [link] [comments]

The truth about Bitfinex and Tether...

EDIT: I realize this is long, but I feel it's important to have this info out there. Maybe save it for later when you see this narrative being pushed around so you can come back and get the other side.
EDIT 2: TL:DR - Most negative analysis on this sub lately of Tether are likely from a single biased source that stretches a lot to make his points, and there is simply not enough Tether in the market nor is it concentrated enough to create a catastrophic problem or significant inflation for any USDT currency pair.
Like many of you, I have heard the stories and posts about the fraudulent tether, I trade in this space on many exchanges and the growing concern is worrying, so I did my due diligence, and I would like to share it with the community.
First and most importantly IMO, all this controversy stems from just one account/person. A person on twitter going by the handle @Bitfinexed - https://twitter.com/Bitfinexed
Here you can see this person's writings - https://medium.com/@bitfinexed/latest
Spoofy, Tethers and institutional investors are what they contend to be the lies and fraud, AND that this entire rally in 2017 is based on fraudulent Tethers and spoofing, and that this will implode the markets.
I feel this is also important… Turns out this person sold at $1000, maybe the real reason he is on this mission??… https://twitter.com/whalepool/status/896460700461277185
Now for some troubling info, the majority of this narrative (FUD??) here on Reddit in the last month come from just three accounts.
https://www.reddit.com/useAtlasRand1/submitted/
https://www.reddit.com/usecetusfund/submitted/
https://www.reddit.com/useAnythingForSuccess
As you can see these accounts entire mission is to post constantly about this. They all show up on the other’s post to comment regularly.
Btw, some people on the pro-finex side think this is a smear campaign from other exchanges. I don’t believe this to be the case. This person(s) only talk about TetheFinex, yet Tether is used and traded by the $millions daily on 3 of the top 5 exchanges, Finex, Bittrex, Polo, yet never a word about those other exchanges. (Check the USDT volume on other exchanges) https://coinmarketcap.com/assets/tethe#markets
Therefore, if it is an exchange, it isn’t Trex/Polo because this would affect them as well. If it was an exchange other than Trex/Polo they would have plenty of fire power against 3 of the top 5 exchanges with Tether fraud.
This leads me to believe it is most likely a sad person(s) with an ax to grind. They might have lost their $ on Finex to what they believe are spoofers/fraud and or they were part of the finex hack and sold there BFX too early.
Btw I see contention that Bitfinex did NOT pay back the $ from the hack. They did, but some people are mad because they sold BFX early and didn’t recoup full $ amount from haircuts, but that was their decision.
~ POINTS OF CONTENTION
SPOOFING This is what set my alarm bells off about these articles I read from Bitfinexed. Specifically spoofing… https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
and this nugget…“And who the hell is going to go margin long so dramatically after a huge crash?” from this article… https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
Claiming spoofing shows this person has limited markets/trading knowledge. Clearly they haven’t watched an order book of any exchange in crypto, equities, or Forex.
This is called scalping or scare walls. Again this is done in every market around the globe.
Here is a professional FOREX trader talking about scalping, how it works, who/why they do it. https://www.youtube.com/watch?v=EYMIPmgRb_M&list=WL&index=94
TL;DW - they do this to get the price where they want it because they know people are watching the order book (the video is quite enlightening), and the key point that keeps this from being an illegal activity (on regulated exchanges) is THAT THEY DO MAKE TRADES FOR THOSE SIZES eventually. This doesn’t always work and they get stuck in these positions. Risk/reward.
The ironic part about this spoofing idea is Finex is one of the few, if not only exchanges, that offer hidden orders. So people trying to scalp always have to worry if there is a monster hidden order lurking.
Go to the UPDATE: AUGUST 7TH of this story and watch the video he claims proves spoofing and Phil Potter admitting it in the voice over. https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
I see nothing wrong with what Phil says and no proof of anything in the video. Again this is true on every exchange trading anything of volume in the world. People with large amounts of money move markets, oh the horror. I “technically” do this when I place an order and pull it for whatever reason (scared, mistake, etc.) just not in large sums, but I would if I had large sums.
“And who the hell is going to go margin long so dramatically after a huge crash?” The crash they are referring to is from the early June ATH to the mid-July correction. A 45-day crash? Well, I am one of those people that went margin long. And many many others who read charts, resistance, support, retracement info. Again, this smacks of someone who doesn’t know what they are talking about.
REASON FOR PRICE RISE/BTC GOES UP WHEN TETHERS ARE CREATED
This is absurd. This completely negates everything else, the Japanese currency ruling and them entering the market, Koreans coming into the market in a huge way (they now have the largest exchange by far with close to a Billion traded DAILY, oh and they don’t use Tether at all), the successful hard fork, or the more (positive!) interest from the media and people than ever before in BTC history.
Instead, we are supposed to think that $395 million dollars of tethers are the reason for this rise in a $160+ Billion market cap. 
C’mon people! Look at that volume for the last 30 days. https://imgur.com/a/vKJ5g Also, the overwhelming majority of trade does not exist in Tether but KRW, CNY, USD, JPY.
Tethers are usually created when extra liquidity is needed, be it a crash or a spike. Because more people are trading.
They try to prove Tether boosts the market with this picture in their article. https://imgur.com/a/274SE
The problem is 2 of the last 3 tether dumps coincide with a downturn. In fact, there is nothing in this graph that proves this theory. Also, the last tether dump/price rise coincides perfectly with the news of the majority of miners signaling segwit2x for the first time (search bitcoin or btc around that date).
So do you think the market traded billions of $ at that time because of a $50 million Tether dump or because for the first time in YEARS a solution and path forward became visible??
THEY DON’T HAVE BANKING//NO INSTITUTIONAL INVESTORS/FAKE TETHERS-TERMS OF SERVICE
In regards to banking, clearly they have some kind of banking and a way for large amounts of fiat to get in and out. The banking is not for you and me but for regional bitcoin exchanges and other large customers.
You know how I know this? If they didn’t the internet would be flooded with Finex withdrawal issues, there would be a price premium on Bitfinex compared to other exchanges, just like Mt. Gox had for so long and also Bitfinex earlier in the year when the banking issues started.
This article explains it very clearly (seriously read this article), it has nothing to do with this controversy, just the banking issue in April.
https://medium.com/@Austerity_Sucks/why-bitfinex-went-from-a-premium-in-its-crypto-usd-pairs-to-now-a-significant-discount-e7be193d7cb0
TL;DR - All of the imbalances discussed (Finex premium) have been a result of USD frictions into Bitfinex. It has been a chain reaction resulting from the initial freeze to the various gradual withdrawal options. As soon as Bitfinex conclusively addresses the USD flow issues, the crypto pair prices will normalize (which they did) with other exchanges that don’t have banking frictions and USDT price will return to par (which it did).
The premiums on Finex and Tether are what would prove something is wrong, yet they are not here. Surprisingly Finex has been at a discount to GDAX and GEMINI recently. Meaning people are willing to take a loss on prices to be able to lend on Finex. This too will normalize as people/bots arb.
Aug 9th… From “arguably” bank fraud https://twitter.com/Bitfinexed/status/895339675120013313
Aug 22nd…. To “admitting” bank fraud https://twitter.com/Bitfinexed/status/900230917196836864
Listen to that audio in the second link, listen carefully. His explanation is perfectly reasonable. Banks don’t work well, consistently, or at all with crypto related companies (marijuana companies too for that matter) especially in jurisdictions that are outside US/Europe. Surprise surprise, this is nothing new. When they find out customers, deposits/wire are cryptos related they pull the plug (a reason why Trex/Polo don’t mess with USD).
Also, they gave their customers a haircut, probably a lot of complaints about the hack to Wells Fargo and other banks. These are the correspondent's banks, not Finex’s, they have banking. This is how they can receive large institutional deposits and withdrawals. Which I bet make up the majority of the fiat deposits and withdrawals.
Classic 80/20 business rule, 20% of your clients are providing 80% of the liquidity plus you are having banking issues (which is expected in crypto-land), so you cut this service to the 80% saving time/resources/headaches for the 20% loss in a single service to them (no fiat withdrawal/deposits- but crypto flows in and out with ease).
Again if they weren’t able to get money in and out there would be a premium, there would be a long line of complaints online. I have no reason (or proof) to believe that money is NOT coming into/out of the exchange.
It makes total sense too, they are the best lending platform, have one of the most liquid exchanges, and have by far the most reliable and best software/servers/UI/order options. You cannot deny this fact, they are constantly a top 3 exchange in volume, even after a hack.
I use Finex (as well as others) because of all those things. Also, they have already been hacked, a second hack seems less likely (IMO, they have more to lose with another hack). They have many big events on the horizon (Ethfinex). Would a company be putting resources into these things if this is all fraud or an exit scam? I find that unlikely. Is this 100% full proof? Of course not, nothing is, especially in crypto, just my reasons for trading there.
Institutional Investors - https://medium.com/@bitfinexed/are-legitimate-institutional-investors-really-coming-onto-bitfinex-s-platform-i-don-t-think-so-cb4ed5175092 Here is what this person doesn’t comprehend, what if these institutional investors are… you ready… here it comes… other exchanges that use Tether, as well as other crypto related businesses. It is only $395 million Tethers. These exchanges (Trex, Finex, Polo) are printing money.
This isn’t “someone” with 100’s of millions of dollars as the article suggests, it’s many people with millions/thousands of dollars. Again this all ignores the fact that many more people have entered the ecosystem this year. This is proven by Coinbase growth, transaction growth, and exchange growth (both in volume and # of exchanges), and growth in crypto-related sub-Reddits.
Yet Bitfinexed is shocked that lending hits ATH’s, but it is perfectly explainable and reasonable based on the evidence and data of gthe ecosystem. Let us not forget BTC is a finite amount, more people are going to increase demand/price, if you think this is a bubble... you haven’t seen anything yet.
The TOS are sketchy and a point of concern but there are two things to keep in mind- It was necessary to word it that way, and the market clearly doesn’t care.
If they had worded it that they will redeem no matter what, they would have money launderers flocking to the service (bogging down resources), plus law enforcement knocking.
Tethers weren’t created to get $ in/out of crypto but to provide a safe haven and liquidity on exchanges that don’t use USD. And I would say they are working perfectly. Very few are withdrawing USDT for USD.
I think it is precisely because of what the co-founder of tether refers to here (and below)… “If you want to convert USD₮ into fiat currency (or vice-versa) at tether.to, you must go through the whole “aggressive” KYC/AML process and get verified. I’ve heard from many who tried and were unable to provide sufficient documentation. Tether’s KYC/AML policies were written by experienced compliance officers and it’s critical that it be done properly and with diligence. It really is about “knowing your customer” and making sure that their uses are legitimate.” This is a perfectly reasonable explanation why people are not lining up to cash out of Tether, and also why large/reputable institutions can (exchanges, investors, etc.).
TETHERS REPLY TO ALL THIS, PLUS UPCOMING AUDIT https://tether.to/tether-update/
Now ask yourself this, would a company that is operating fraudulently have a roadmap of all these new features that no one will ever use if they don’t provide these promised audits as they say they will by the end of the year?
So as of now they have enough runway until the end of the year. I say we give TetheFinex the benefit of the doubt.
While Tether could be operating fractionally (so to could any exchange in crypto btw), there is no proof or evidence of it today. It trades at normalized rates. You can’t just create 100’s of million of dollars without the marketing realizing somewhere.
Sure, you can say this is a confidence game, but so is crypto, so is the USD, so is the concept of money. I see no reason to be more concerned with this risk than the already risky environment we trade in with exchanges.
WHAT IF I”M WRONG? CRYPTO WILL IMPLODE!
No it won’t. Sure there will be a dip maybe even a correction, but there are only 395 million Tethers. People will get out of Tether even at massive discounts (until $0) into crypto because they can’t get USD, but not more than the 395 million tethers circulating (at this time).
At a certain discount people will understand what is going on and stop trading for Tether. BTC + ETH is worth over $100 billion, how many time does the entire amount of USDT have to turn over to cause a massive crash?
What will get hit the hardest are the people left holding tether (if/when they implode) and Trex/Polo/Finex.
To think Polo/Trex would rely so much on USDT that they didn’t fully vet it is absurd as well. Whats more likely, Polo/Trex’s due diligence or this @Bitfinexed person based on conjecture?
I’ve already seen a Forbes contributor try and get ahold of Bitfinexed on twitter. https://twitter.com/laurashin/status/894437272241569792
Could I be wrong about all of this??? Of course, but, I feel I have provided more evidence than the other side. You are the Judge :)
USEFUL INFO
Some from u/udecker - Tether co-founder
Tether.to is who has the backing for the token, not Bitfinex. Bitfinex is a customer of Tether. If Bitfinex wants more Tether, they make a request to Tether, just like all other Tether customers. Tether waits for USD to show up, and when it does, creates the necessary tethers and credits Bitfinex. They both have Tawainese banking so money can flow back and forth easily. (The banking industry in the country of Taiwan are under scrutiny lately because of larger legal issues not involving crypto, but clearly affecting crypto companies)
https://wallet.tether.to/transparency
Tether wasn’t designed to be a profit machine. It was designed to be a utility for the crypto community to provide a stable token (with all the benefits of this). Tether’s business model is this: 1. Generate fees from wire deposits and withdrawals and conversions. 2. Interest income on the reserve.
Bitfinex’s parent company owns a 20% stake in Tether.
People say Tether isn’t being burned. But they are being recycled which is/was always an option.
I hope we can have a productive conversation around this without the usual Gox 2.0, sell it all, Bitfinex is the anti-christ comments with no substance. Give us your opinion and perspective because maybe I am missing something… but, maybe you are too.
This was quite time consuming (just ask my kids and boss, lol) So if you found this info helpful you can donate if you’d like here, if not, no biggie smalls :)
BCH- 16uby9gW79tjn5guQG8v5mTsdu6V6cYyKF
submitted by bhdgsetyf to btc [link] [comments]

KW 48: Bitcoin Kurs Comeback?  BTC Milliardär  Bitcoin Banken  IOTA, Ripple, Ethereum News 9 Reasons why Bitcoin price is going BIG TIME Bull in 2020 Why is Bitcoin #BTC down 18% this month? Quantum? Daily Update (6/4/18)  Is bitcoin heading for $7,200? 3 Reasons Why Bitcoin Plunged More Than 30% Last Few Weeks

The Bitcoin chart with a 200 movign day average. Credit: ADVFN. Classically, the current breakdown would be considered bearish. I’m not a fan of moving averages because they change with the ... Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ... Der Wirecard-Skandal schlägt immer höhere Wellen. Während auch jetzt noch neue Verstrickungen ans Tageslicht kommen, ist Jan Marsalek, ehemaliger Vorstand des Finanzdienstleisters, immer noch ... The companies point to the recent surge in bitcoin’s price as a sign that investors are warming up to crypto. Fundamentally, nothing has changed since late 2017, when the price of bitcoin spiked ... A new article from Wired highlights the birth of Fidelity’s Bitcoin custody service and the coming launch of Bakkt’s physically-settled Bitcoin futures as two signs that “serious money” is starting to enter the market. The piece also notes the relatively small size of the overall crypto market compared to traditional assets.

[index] [14017] [44854] [21904] [31443] [38793] [42508] [18330] [2046] [21320] [18418]

KW 48: Bitcoin Kurs Comeback? BTC Milliardär Bitcoin Banken IOTA, Ripple, Ethereum News

Analysis of all the key fundamental and technical reasons that I believe will take the Bitcoin price into a new multi year bull market in 2020 & why the Bitcoin price has the potential to rise to ... I read an article in Forbes about whether people believe quantum computing will defeat Bitcoin security, and even internet security. Not sure I believe anything in the article (at least based on ... Donate Bitcoin: 3NqhJSAikoFiYmZm3ACGzdw9Lr86ZiLT7K Support the Show: https://www.patreon.com/madbitcoins Listen to WCN Audio Podcasts: https://itunes.apple.c... WIRED Recommended for you. 36:32. Secrets to trading Nasdaq - How to Trade Nasdaq (Must Watch) - Duration: 16:55. Lesiba Mothupi 20,038 views. 16:55. Drawing Conclusions: Is renting really a waste ... BTC was going down because of the google Quantum supremacy: several news outlets, including Wired, and the Financial Times published an article stating that Google has obtained "quantum supremacy ...

#