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  1. #21
    universal4's Avatar
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    I would NOT encourage folks to use localbitcoins in that manner, depending on where you live.

    Due to the robberies etc from the past, as well as other laws that the State's Attorney Office assumed were violated, Florida specifically has done some stings (even as far back as 2014)
    https://www.coindesk.com/localbitcoi...arges-florida/

    Many states in the US have very specific rules on money transactions over certain amounts. (in Florida it is a very low ceiling so anything over $300 falls into those guidelines)

    In my opinion, soon enough it will be regulated exchanges will be one of the only ways for many US residents to exchange bitcoin to fiat.

    Rick
    Universal4

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  3. #22
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    Quote Originally Posted by universal4 View Post
    I would NOT encourage folks to use localbitcoins in that manner, depending on where you live.

    Due to the robberies etc from the past, as well as other laws that the State's Attorney Office assumed were violated, Florida specifically has done some stings (even as far back as 2014)
    https://www.coindesk.com/localbitcoi...arges-florida/

    Many states in the US have very specific rules on money transactions over certain amounts. (in Florida it is a very low ceiling so anything over $300 falls into those guidelines)

    In my opinion, soon enough it will be regulated exchanges will be one of the only ways for many US residents to exchange bitcoin to fiat.

    Rick
    Universal4
    Felony charges from exchanging bitcoin on localbitcoins.com? After reading the article I was surprised they were on to BTC back in 2014. Yes, not a good idea at all. I agree with the fiat exchanges being ultra transparent. Image how many of the coinbase users who thought they could get away with not reporting capital gains.

    I am a libertarian, and I think the government should be a fraction of what it is now. That being said, I do think that these regulations are good for mainstream adoption. Until we can purchase a bread at a local store in crypto we need the exchanges regardless of the hoops we have to jump through.

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  5. #23
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    Thank god USA is not the only country still. My dev who is paid in BTC sells it on LBC via bank account. The bank actually is cooperating with him to catch man in the middle scams and such.

    It is funny how money transmission laws are being applied on something that they are so afraid to call money (because from selling something like commodity or security are higher taxes).

    Bitcoin is pseudonymous. It is neither anonymous, nor transparent. For a fee for a tumbler you can always get more or less anonymous bitcoins. Fast forward: they will make tumblers unlawful in the USA and few other countries, but not in all countries. USA as always will claim jurisdiction over the world. In the end bitcoins will be even more anonymous in this way. At least for the smaller deals where it is necessary for end users.

    Atomic swaps with anonymous currencies will help as well.

    ... and this is only mid term plan. Nobody can see what can and will happen long term.

    Even now those anonymous features are being built into bitcoin (samouirai wallet, breeze wallet, hidden wallet...).

    The segwit proposal and the other that are coming were not done just to raise a bit onchain scaling. The purpose was also to help with fungibility=anonymity of bitcoin. Many devs are really actively working on it and they believe it is doable. One of them said that if it will not be doable in the end or if miners do not support this, the devs will leave for another project.

    I personally like the pseudonymity. It is great that people like us can prove the source of the bitcoins when we want.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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  7. #24
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    Quote Originally Posted by Betivity View Post
    What do you think is the solution here? Where would you suggest tot have a wallet?
    If you're just talking about wallets to store your Bitcoin, I wouldn't touch anything online (like Coinbase or Blockchain, which seems to be the combo so many online gamblers sadly settle for) with a 10-foot pole.

    It takes 2 minutes set up an offline wallet - Electrum, Copay (or BitPay), or preferably a Ledger/Trezor hardware wallet. For mobile, you could do Bread, Mycelium, Copay/Bitpay, Airbitz, etc.

    Anything where the private keys are actually stored on your device is better than trusting the worst high-profile Bitcoin exchange on the planet with it.

    If you're talking about exchanges, two easy choices over Coinbase would be Gemini or Kraken. Both have had frustrating server issues, but neither seem to be run with the gestapo-level "compliance" department Coinbase does. They also aren't under the thumb of the IRS... at least yet.

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  9. #25
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    Quote Originally Posted by stillshadow View Post
    If you're just talking about wallets to store your Bitcoin, I wouldn't touch anything online (like Coinbase or Blockchain, which seems to be the combo so many online gamblers sadly settle for) with a 10-foot pole.

    It takes 2 minutes set up an offline wallet - Electrum, Copay (or BitPay), or preferably a Ledger/Trezor hardware wallet. For mobile, you could do Bread, Mycelium, Copay/Bitpay, Airbitz, etc.

    Anything where the private keys are actually stored on your device is better than trusting the worst high-profile Bitcoin exchange on the planet with it.

    If you're talking about exchanges, two easy choices over Coinbase would be Gemini or Kraken. Both have had frustrating server issues, but neither seem to be run with the gestapo-level "compliance" department Coinbase does. They also aren't under the thumb of the IRS... at least yet.
    Thank you for the info. I am using a Ledger Nano, and love it. I had one for a few months and never used it. Now, I can't imagine using an online exchange for storage. I didn't know about Electrum, Copay and the mobile options.
    Thank you.

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  11. #26
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    Atm i own 0 Btc and promote absolutely none Btc Casinos - because i dont see any legit brands on the market.
    Long term - fair - good quality,is my strategy..

    One example...

    https://www.gpwa.org/forum/cloudbet-...on-242306.html

    https://www.walletexplorer.com/wallet/CloudBet.com

    Regards

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  13. #27
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    I went to see my uncle and aunty + Nanna and Poppa. Uncle and aunty are looking into mining and my grandma is talking about ripple. This **** is catching on.

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  15. #28
    medi is offline Public Member
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    When it comes to overall anonymity within crypto-currencies - winner is for sure Monero.
    They are doing obfuscation of transactions, origins, amounts and destinations so it becomes extremely hard (impossible) to track funds to particular crypto account.

    Regarding the mentioned that main pitch for bitcoin was anonymity - it is true and valid. People that got sold on bitcoin story actually have no plans to go out of it. Imagine if you could buy anything you need via bitcoin - then we would talk about anonymity because you wouldn't have to "revert back" to fiat. Of course, this is not happening anytime soon - but it is coming. (here I sound like heavy bitcoin evangelist but as a matter of fact - I own 0 of them )

  16. #29
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    Monero, CloakCoin, Dash, Verge seems to be good anon coins for the future

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