I laugh when I read the comments around the web about 'it's a scam', 'it's a sham', 'it's a ponzi scheme' and so on.
'It's guaranteed to fail" and blah blah.
These are primarily people who have not spent the time to study this. However, supposing they are right, look at it from a punter's perspective. It an ingenious, low-cost method of transfer that is faster, more cost effective and pseud-anonymous. You don't need to stay in bitcoins. You just complete your transfers and you're already profiting. Moreover, even if there's a dip in price during the transfer it is usually less than another withdrawal method. And sometimes it will work the other way and you'll profit by positive fluctuations. You will earn money by making a withdrawal. These benefits cannot be denied.
The next point I'd like to make is that if you're certain it will fail, then put your money where your mouth is. So many people who have spent less than one hour studying it will shout 'ponzi', 'scam' and so on, and they are convinced it will fail. Well, if it will fail, then this is the perfect opportunity, the likes of which you'll rarely ever see. Put $100,000 in it right now and fade it, watching it go from $221.80 down to $10.00. You just made a million dollars!
I am studying it and continue to study it. I don't think I've ever recommended to sit and hold.
'It's guaranteed to fail" and blah blah.
These are primarily people who have not spent the time to study this. However, supposing they are right, look at it from a punter's perspective. It an ingenious, low-cost method of transfer that is faster, more cost effective and pseud-anonymous. You don't need to stay in bitcoins. You just complete your transfers and you're already profiting. Moreover, even if there's a dip in price during the transfer it is usually less than another withdrawal method. And sometimes it will work the other way and you'll profit by positive fluctuations. You will earn money by making a withdrawal. These benefits cannot be denied.
The next point I'd like to make is that if you're certain it will fail, then put your money where your mouth is. So many people who have spent less than one hour studying it will shout 'ponzi', 'scam' and so on, and they are convinced it will fail. Well, if it will fail, then this is the perfect opportunity, the likes of which you'll rarely ever see. Put $100,000 in it right now and fade it, watching it go from $221.80 down to $10.00. You just made a million dollars!
I am studying it and continue to study it. I don't think I've ever recommended to sit and hold.
What exactly do I do?
set up coinbase acct with a bank?
transfer money from bank to there to convert it to bitcoins?
make another acct at a different site? (Which site?)
transfer from coinbase to "_____" site then to a gambling site?
if withdrawing repeat process in opposite direction?
is this all right?
im seeing you have to give coinbase a lot of info about yourself. I thought this was anonymous? Sub-sites I've checked also want you to verify your info before transferring?
set up coinbase acct with a bank?
transfer money from bank to there to convert it to bitcoins?
make another acct at a different site? (Which site?)
transfer from coinbase to "_____" site then to a gambling site?
if withdrawing repeat process in opposite direction?
is this all right?
im seeing you have to give coinbase a lot of info about yourself. I thought this was anonymous? Sub-sites I've checked also want you to verify your info before transferring?
Brian Laverty = Scumbag
Brian Laverty = Loser
Brian Laverty = Liar
Brian Laverty = Fat Pig
Brian Laverty = Thief
Brian, do those people who you would rip off of their hard earned money, do them a favor.
Brian, go kill yourself. cheersgif
(Mods, I thought you had banned that scamming thief already. What's the deal?)
Brian Laverty = Loser
Brian Laverty = Liar
Brian Laverty = Fat Pig
Brian Laverty = Thief
Brian, do those people who you would rip off of their hard earned money, do them a favor.
Brian, go kill yourself. cheersgif
(Mods, I thought you had banned that scamming thief already. What's the deal?)
Brian, are you really that dumb to use the same name to con people with? It's all over the internet that you're a scammer, liar and so on.
Why don't you go hang yourself, Brian?
------------------------------
Please do not post in this thread anymore as this is a great thread regarding Bitcoin.
Why don't you go hang yourself, Brian?
------------------------------
Please do not post in this thread anymore as this is a great thread regarding Bitcoin.
This has been talked about a little bit, but here's a somewhat old article (2 months)
http://cointelegraph.com/news/113207/coinbase-is-tracking-how-users-spend-their-bitcoins
Coinbase Is Tracking How Users Spend Their Bitcoins
by Carlo Caraluzzo @ 2014-12-28 04:58 PM
Coinbase has recently been demonstrating why consumer regulation is such a problem. The company seems to be tracking what their customers are buying with Bitcoin and closing any accounts involved in transactions that the company objects to.
It is probably no secret that Bitcoiners are not fans of regulation. What is generally misunderstood though is that the aversion is not to regulating in general. We understand that in the real world, the big financial powers are never regulated in a practical sense. Consumers, on the other hand, are heavily regulated.
Regulations are almost never designed to protect the consumer. Instead they are put in place as a way to control the flow of consumer spending and to protect the interests of the financial sector. The New York BitLicense is a good example of this problem, as it was designed to favor credit card companies and put a burden on Bitcoin development and acceptance.
Now Coinbase has been banning user accounts that send Bitcoin to gambling sites, even though online gambling is not illegal. One Reddit user also complained that coinbase banned his account for allegedly purchasing cannabis products with coins purchased from the service.
“I have been a long time coinbase customer, buying 1-3 times per month, I got an e-mail today saying they are banning me from using their services because of a ToS violation. I e-mailed them back to ask what the violations [were] and they told me that they have evidence that I used some of the BTC I bought for cannabis/cannabis seeds. They gave me a specific BTC transaction and said it was for drugs and wouldn't listen to anything I had to say.”
Another user's account was shut down after he was accused of selling coins on LocalBitcoins after purchasing them on Coinbase:
“Because I buy a few bitcoins a week from Coinbase (although sometimes I will go months without buying any) I was flagged as having enough volume to potentially be a Money Services Business (MSB) and the Coinbase ‘compliance team’ mounted an investigation against me. They determined that ‘they have reason to believe’ I am selling Bitcoins on LocalBitcoins, even though they haven't said what that reason is, and therefore are suspending my account.”
Coinbase explains that the company is only trying to stay in compliance with federal anti-money laundering regulations and drug laws. We understand that any company has a fiduciary responsibility to protect the company for its shareholders. But it appears that Coinbase has crossed the line by not only tracking coins purchased through its service, but also tracking how users spend their Bitcoins after withdrawing them from their Coinbase wallets.
These types of practices are the very antithesis of Bitcoin and virtual currencies, and they are the main reasons why most Bitcoin users fear regulation. It is often used to regulate taste rather than safety, and it can also be used by a company to suppress the business of its competitors. These are arbitrary overreactions by a company that fears the laws that they claim to respect.
http://cointelegraph.com/news/113207/coinbase-is-tracking-how-users-spend-their-bitcoins
Coinbase Is Tracking How Users Spend Their Bitcoins
by Carlo Caraluzzo @ 2014-12-28 04:58 PM
Coinbase has recently been demonstrating why consumer regulation is such a problem. The company seems to be tracking what their customers are buying with Bitcoin and closing any accounts involved in transactions that the company objects to.
It is probably no secret that Bitcoiners are not fans of regulation. What is generally misunderstood though is that the aversion is not to regulating in general. We understand that in the real world, the big financial powers are never regulated in a practical sense. Consumers, on the other hand, are heavily regulated.
Regulations are almost never designed to protect the consumer. Instead they are put in place as a way to control the flow of consumer spending and to protect the interests of the financial sector. The New York BitLicense is a good example of this problem, as it was designed to favor credit card companies and put a burden on Bitcoin development and acceptance.
Now Coinbase has been banning user accounts that send Bitcoin to gambling sites, even though online gambling is not illegal. One Reddit user also complained that coinbase banned his account for allegedly purchasing cannabis products with coins purchased from the service.
“I have been a long time coinbase customer, buying 1-3 times per month, I got an e-mail today saying they are banning me from using their services because of a ToS violation. I e-mailed them back to ask what the violations [were] and they told me that they have evidence that I used some of the BTC I bought for cannabis/cannabis seeds. They gave me a specific BTC transaction and said it was for drugs and wouldn't listen to anything I had to say.”
Another user's account was shut down after he was accused of selling coins on LocalBitcoins after purchasing them on Coinbase:
“Because I buy a few bitcoins a week from Coinbase (although sometimes I will go months without buying any) I was flagged as having enough volume to potentially be a Money Services Business (MSB) and the Coinbase ‘compliance team’ mounted an investigation against me. They determined that ‘they have reason to believe’ I am selling Bitcoins on LocalBitcoins, even though they haven't said what that reason is, and therefore are suspending my account.”
Coinbase explains that the company is only trying to stay in compliance with federal anti-money laundering regulations and drug laws. We understand that any company has a fiduciary responsibility to protect the company for its shareholders. But it appears that Coinbase has crossed the line by not only tracking coins purchased through its service, but also tracking how users spend their Bitcoins after withdrawing them from their Coinbase wallets.
These types of practices are the very antithesis of Bitcoin and virtual currencies, and they are the main reasons why most Bitcoin users fear regulation. It is often used to regulate taste rather than safety, and it can also be used by a company to suppress the business of its competitors. These are arbitrary overreactions by a company that fears the laws that they claim to respect.
thanks pal thats what i was thinking.
so i do have to give all my info to coinbase
as the secondary i started setting up xapo and they wanted all my info too so i said fukk this and quit trying.
do i not need to give the info on blockchain?
maybe ill use circle instead of coinbase since it is free not 1%
