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    Cryptocurrency Daily Discussion - June 15, 2019 (GMT+0)

    June 15, 2019

    Cryptocurrency Daily Discussion - June 15, 2019 (GMT+0)

    Daily Discussion - June 15, 2019 (GMT+0)

    Posted: 14 Jun 2019 05:14 PM PDT

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.
    submitted by /u/AutoModerator
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    Sarah nailed it.

    Posted: 14 Jun 2019 08:26 AM PDT

    Fiat-coin trying to wear skin of crypto?

    Posted: 14 Jun 2019 08:47 PM PDT

    Craig Wright committed fraud according to Florida court documents, facing possible jail time

    Posted: 15 Jun 2019 01:16 AM PDT

    Ledger does NOT!!!!! have a number. Do not use. I repeat DO NOT USE!!!!This is for the new people coming in to crypto. And maybe some of the old heads as well.

    Posted: 14 Jun 2019 08:06 AM PDT

    Facebook Coin will be used to track un-taxed sales.

    Posted: 14 Jun 2019 10:33 PM PDT

    It is my belief that Facebook Coin will be used to track and tax all of the off the book sells on the Facebook Marketplace. They will absolutely incorporate their coin into their marketplace. This will allow them to U.S. tax people, and/or Facebook tax people. They will sell this data and profit.

    submitted by /u/DewThermos
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    TIL that over 40% of Warren Buffett's entire stock portfolio is in banks and credit card companies.

    Posted: 14 Jun 2019 04:51 PM PDT

    V-ID (VIDT) stops document fraud. From certificate, invoices and even art.

    Posted: 15 Jun 2019 12:18 AM PDT

    It is a simple usecase that anyone can understand and is very widely applicable; validating the authenticity of documents on a blockchain. V-ID aims to do this. As a showcase the team recently verified a Rembrandt painting via blockchain, collaborating with the art house that owns the painting and a notary: https://about.v-id.org/rembrandt/

    V-ID is already being used by companies like Airbus, Khrone and most recently AmSpec (link: http://www.amspecllc.com/verify/).

    At the moment the token is available though Hotbit and IDEX, and tier 1 exchange has been confirmed for Q3.

    More info:
    Cmc: https://coinmarketcap.com/currencies/v-id/
    Marketcap: <5 million
    Website: https://about.v-id.org/
    About the token: https://medium.com/@pim_vee/vidt-and-v-ids-tokenomics-9ae760f6c7df

    submitted by /u/DutchDolt
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    Craig Wright: I remember reading it... probably... when I wrote it.

    Posted: 14 Jun 2019 07:27 AM PDT

    Bittrex US is delisting 74 tokens this month

    Posted: 14 Jun 2019 09:51 PM PDT

    First these 32 tokens and then these 42 tokens

    Bittrex International is a separate exchange from Bittrex US. And as Bittrex International requires KYC to trade, just using VPN won't work either. Now that Binance is going to block US residents from Binance.com, I think the likely next step by them would be to stop allowing unverified accounts from trading and cut off the VPN path. For the short term, things are looking grim for US residents, and many alts.

    submitted by /u/lifofifo
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    Here is the breakdown of what coins will still be available to US customers through US compliant exchanges once binance stop US based trading in September

    Posted: 14 Jun 2019 09:16 PM PDT

    At an emergency crypto-haters meeting, July 2019.

    Posted: 14 Jun 2019 06:37 AM PDT

    If the US government makes it illegal for me to trade cryptocurrency then they can suck both of my nuts and look me in the eyes when I tell them I am not going to pay fucking taxes on any gains.

    Posted: 14 Jun 2019 04:55 PM PDT

    I'll take my business to people who accept cryptocurrency, I don't remember getting asked whether or not crypto laws should start coming about. I thought I had a say, guess not. They can't stop everyone from using it. Put me on the list.

    submitted by /u/bpaq3
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    Sources Say Facebook Wanted Financial Data For Years. They “trust me”. Dumb Fucks

    Posted: 14 Jun 2019 01:33 PM PDT

    Bring on the Altcoin exodus I say. Exchanges losing power is a blessing in disguise.

    Posted: 15 Jun 2019 01:43 AM PDT

    Bring on the Altcoin exodus I say. Exchanges losing power is a blessing in disguise.

    Bring on the Altcoin exodus I say. Exchanges losing power is a blessing in disguise. After the ICO bubble I hoped we'd finally move past speculation. As a fundamentals guy I want the best projects to get recognition, not tweets, IEOs, influencers & exchanges determining who wins. Finally, fundamentals will determine success!

    https://i.redd.it/1b42kpf7gh431.png

    submitted by /u/nugget_alex
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    The Future is Bright - Ethereum “ETH 2.0” Genesis Block May Launch in January 2020

    Posted: 14 Jun 2019 12:01 PM PDT

    Selling local

    Posted: 15 Jun 2019 03:55 AM PDT

    I'd love to start selling crypto locally, but I heard that localbitcoin.com needs your information to be able to use it.

    Anyone doing this atm and how do you do it?
    I imagine a way for people to contact me securely, meet up, exchange and done.

    Any thoughts or idea's are welcome.

    submitted by /u/laziegoblin
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    Binance blocks US customers

    Posted: 14 Jun 2019 10:10 PM PDT

    WATCH: Craig Wright briefly forgets he ‘invented’ Bitcoin

    Posted: 14 Jun 2019 04:18 PM PDT

    Don't let 2FA lead you to false security, I got robbed of $70 000 from Kraken.

    Posted: 14 Jun 2019 04:41 AM PDT

    I've tried not to think about this because it makes me feel bad just thinking about it, but it's my responsibility to share what happened so it doesn't happen to anyone else.
    The whole situation is a bit ironic, especially the reason why I got a Kraken account in the first place, I'll try to see the funny side of this even though it's just tragic (Buttcoin surely will like this though).

    1. To begin with, I got my Kraken account to claim lost Mt.Gox funds (yes, I lost money in the Mt. Gox hack, not close to this amount but still a significant amount), so I got Kraken because I lost money on Mt.Gox and later the committee told me to use Kraken to claim my lost funds.
    2. One of the reasons I kept this amount on Kraken was because I wanted to have quick access in case of drastic moves, especially if Tether would collapse since Kraken is the only place where you can short USDT (people might think this is dumb, but I did this in October and shorted it from about $0.99 to 0.87, so I knew it worked).
    3. I had done my research on the most secure exchanges although I might have used a few short cuts in my reasoning. I thought that they HAD to be safe since they were selected to aid the redistribution of the Mt.Gox funds, surely the Mt.Gox committee most have made their assessment on the security of the exchange. I also read several articles and other sources rating the security of different exchanges, Kraken always came out in the top. Lastly they are one of the most widely used, so I thought this was fine.
    4. Still, of course I thought I wasn't being no dummy, I did activate 2FA and took every measure to increase security such as using a unique password on the exchange as well as for my e-mail.
      The 2FA especially made me feel a sense of security (which obviously was false).

    I've been trying to figure out how this could happened.
    I have scanned my computer and there is no trace of malware and I don't use unknown computers to access my mail.
    It does seem as if the hacker initially got access to my mail by gaining access to customer support accounts at Microsoft Outlook:
    https://www.coindesk.com/microsoft-outlook-hackers-stole-crypto-using-victims-emails-report

    The hackers then proceeded to set rules on my account to send any mails from Kraken to the trash:
    https://imgur.com/a/eiAA8rH
    https://imgur.com/a/gpC8IYq
    And later went on by gaining access to my Kraken account:
    https://imgur.com/a/6Vl95aE

    What frustrates me a lot is that the hacker could do this, all in one day:

    A. Ask for my username
    B. Ask for a password request
    C. Ask for a 2FA bypass
    D. Set a new withdrawal address
    E. Withdraw $50 000 (and $20 000 more the next day)

    They haven't given me any information about the 2FA bypass, I have no clue why they allowed it.
    My SIM-card does still have network so I don't think my SIM-card was duplicated (which I've read have happened to others in the past in a similar situation).

    Suggestions to Kraken to increase the security in the future:

    • Set up some flagging, if someone is asking for username and password, then maybe you shouldn't allow a 2FA bypass directly afterwards, especially if someone have a larger sum of money ( eg. $10 000 > ) on the account.
    • Ability to voluntarily block any new withdrawal addresses, which only can be re-activated by ID verification (if that wouldn't make any sense for Kraken from a business perspective due to too much administration work, then charge a fee for the re-activation of new withdrawal addresses).
    • Seriously reconsider how you're managing your 2FA system, while doing some research of what could have happened I read that Bitstamp require their users to do an ID-verification before the bypass (at least give users the ability to chose this, again at a fee if so be).

    What can you do and what should I have done in hindsight?

    Shouldn't have been stupid and kept it on the exchange, period (I if anyone should know this by now, I know.. I am a dummy, I admit it.). My reasoning was having quick access to trades in case of Tether collapse or other drastic movements, but this was a dumb risk. I simply should have put it in the bank and accept a few days waiting time.
    Only real solution is to not use exchanges, but I might have increased my security by using a dedicated e-mail address only for this... And especially avoiding Microsoft Outlook since their security does not seem to be the best.

    $70 000 is a lot of money, I still have a decent chunk of crypto and fiat. I'm doing fine financially so I can take this hit. But I had recently started planning to use a large chunk of these $70 000 or the whole amount to buy a local and set up a co-working business and/or rent out the local if the co-working business wouldn't take off. I don't think I'll be able to do that now, at least not the next few years unless I settle for a sub-optimal local.

    So now I'm suppose to start a new legal process to recover my lost funds, with a lot of time and worry, just like how the Mt.Gox situation was/still is.
    My hopes are close to zero of recovering this, unless Kraken takes some responsibility on their part.
    Wish me luck, the whole situation is just sad and honestly makes me depressed just thinking about it, one part of me just want to forget this and not think about it anymore.

    submitted by /u/temp717
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    What will happen to the price of alt coins

    Posted: 14 Jun 2019 04:15 PM PDT

    As I understand it, Binance will suspend US accounts in 90 days.

    So this means people will move their coins into BTC and possibly onto other exchanges.

    Except these other exchanges may not offer coins like

    -TRX, Nano, WAVES, ENJ, ATOM etc.

    So presumably these coins and many others are bound to go downwards right?

    I kind of have no idea and want to hear other people's input.

    submitted by /u/Phillip-Financial
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    In a Prague convenience store

    Posted: 15 Jun 2019 04:06 AM PDT

    Tune in for AMA with BABB for the upcoming developements.

    Posted: 15 Jun 2019 04:04 AM PDT

    We're ready to start unveiling more and more of our plans for the future, our product and the changes we've been going through as well as answer any and all questions (well… most) you might have.

    If you'd like to take part in our upcoming AMA, make sure you get yourself over to our official YouTube channel on June 25thfrom 3:00pm to 4:00pm London time. Our CEO Rushd Averroës will be there so don't miss out!

    submitted by /u/Ton1206
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    The NULS team would like to inform token-holders that we have worked with a legal firm in the USA for the past several months, and we have already secured the legal framework for compliance required to pursue listings on US-based exchanges.

    Posted: 14 Jun 2019 11:16 AM PDT
    Read more
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