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NiceHash - buy & sell hashing power
NiceHash offers you to buy or sell hashing power directly, no contracts, no limitations, pay-as-you-go if you're a buyer and be-paid-as-you-go if you're a seller. Why bother renting rigs, when you can rent hashing power? NiceHash brings more to renters and rig owners. Visit https://www.nicehash.com today! Simply create order and you are already mining your favorite coin or point your rig to our stratum server and you are already earning bitcoins.
Ever since Quadriga exit scammed I've been using Kraken; although the liquidity for CAD/XBT isn't great and I'd rather not pay the fee to convert to USD. Does anyone have any experience with Bitbuy? I hear they're the new up and comers in Canada with funding via etransfer.
Best BTC/crypto exchange for Canadians? I wanted to use Kraken, but...
Hey All, I know this subject was covered a couple of years ago, but some things have changed since then (eg. vaultofsatoshi), so please forgive me asking this same question. I'm looking to use an exchange for BTC, Ethereum, and maybe some other currencies as things develop. I wanted to use Kraken, but electronic transfers from RBC take 5 business days to get to their Japanese back (which seems ridiculous, given the speed of light and that the transactions aren't manually verified by a human. I mean, you could literally fly cash from Canada to the bank in Tokyo in about half a day, so what gives?). Also, Paycash apprently isn't available to Canadians so there's no way for me to deposit in USD either. I tried Coinbase, too, but it seems expensive. I will also use quickbt sometimes, but I'm looking at deposits in the $Ks most of the time rather than the $Cs. So, what do the rest of you Canadians do to deposit fiat currencies into a crypto exchange? I've been researching several exchanges, but it isn't easy to determine who falls where in terms of overall fees. Thanks in advance for any help.
Best place for Canadian to buy and exchange crypto
I currently have been using Coinbase and Polo. From my understanding if I wanted to withdraw anything I am unable to do so with Coinbase. I have looked into a few places but not really sure which are reliable and was wondering about other Canadians have places that they think is good.
Investment Thesis: Why investing in POW.TO (Power Corporation of Canada) now is an investment in a future high market cap Wealthsimple IPO
I have seen some posts here wondering about the wisdom of investing in Wealthsimple's parent company, Power Corporation of Canada (POW.TO). I decided to look more into this, decided to post my investment thesis and research on why I, long-term, I have a very bullish view on Wealthsimple (and by extension POW.TO), and why I think this is equal to being an early stage investor in a Wealthsimple IPO.
Ownership: Power Corporation of Canada (POW.TO) (83.2% ownership)
AssetsUnderMangement: $5.4 billion, as of June 30, 2020 (4.9 billion in June 30, 2019)
Wealthsimple Invest (ETF Roboadvisor service), WS was one of the first-movers in this space in Canada and offered robo-advising as part of its initial product in 2015. WS claims to have largest digital investing presence in Canada (70% of the market) (reference).
Wealthsimple Cash, a savings account service
Wealthsimple Trade, a commission free trading app where users can buy and sell ~8,000 stocks and ETFs
Wealthsimple Crypto, a commission free cryptocurrency trading app, currently in beta
SimpleTax.ca, a free tax-return service used by ~1 million Canadians per year, acquired in late 2019
WS has had many successful rounds of funding and a vote of confidence from both its parent POW.TO and other multinationals investing in fintech.
Last year WS received a $100 million dollar investment led by Allianz X, the start up investor arm of German financial services giant Allianz
WS has had 7 total investing rounds, totalling $266.9 million (reference)
WS has been extremely aggressive in targeting growth areas. Wealthsimple’s CEO Mike Katchen has said he wants to position the company as a “full-stack” financial services company. Here are some of their current expansion areas:
UK and USA Expansion - in 2017, they started offering similar investing services in the UK and the US (reference and reference).
Socially Responsible ETFs - WS recently partnered with Mackenzie Investment to offer socially responsible ETFs with a social and environmental focus. Although probably not something that older investors care about, this is particularly important for younger investors who want to make sure their investments are socially responsible
Cryptocurrency - WS is currently testing a beta service of their cryptocurrency app, and offering fee-free cryptocurrency trading, similar to Wealthsimple Trade. Whatever your views of cryptocurrency (I'm of the view that I can in some cases be part of a portfolio to hedge against risk), it's here to stay. Earlier this month, WS was the first company in Canada to register with the Ontario Securities Exchange Commission (reference). My sense is that crypto will face increasing regulations and scrutiny in the coming years, which will be a good thing for WS which is a step ahead of the game (reference). Even Google is starting to look into relaxing its restraints on crypto (reference).
Other full-stack services - WS has been mum on what other services they might offer, but insurance, mortgages, and chequing accounts could be other areas of disruption. (Reference)
WS is run by young guys who have big ambitions and plans for the company. Sometimes there are CEOs with the intangibles that can really drive a company's growth, and from what I can glean, I think the company has a lot of potential here in terms of vision by its leaders. You can read more about the founders here
Michael Katchen, CEO, Background: Led product and marketing at a start up called 1000memories, a Y Combinator startup later acquired by Ancestry.com. Worked for McKinsey & Company.
Brett Huneycutt, COO, Rhodes Scholar... not much else I know about the guy
Quote sfrom CEO: Michael Katchen On being laughed out of the boardroom when he proposed his idea for Wealthsimple:
Within the last month, Wealthsimple has also opened an office in London. Katchen said a push into the European market is “possible” as its “ambitions are global,” but right now the Canadian and U.S. markets are “a lot to chew.” It is a far cry from the company’s early days: Katchen said he was “laughed out of the boardroom” for laying out a global vision for Wealthsimple at a time when they had just $1.9-million in funding and 20 users***.***“It’s a very personal mission of mine since I moved back from California, to inspire more Canadian companies to think big and to think internationally about the businesses that they’re building,” he said. (reference)
On Wealthsimple's growth in the next 10-15 years:
Wealthsimple has more than $5 billion in assets under management and 175,000 customers in Canada, the U.S. and U.K. He sees that reaching $1 trillion 15 years. “We’re just getting started,” he said. “Our plans are to get to millions of clients in the next five years.” (reference)
Brand Value and Design
Out of all the financial services company in Canada, WS probably has the most cohesive and smart design concept across its platforms and products. I see the value in Wealthsimple in not just the assets they have under management, but also the value of the brand itself. I mean, what kind of financial services company makes a blog post about their branding colour scheme and font choices? Also see: Wealthsimple’s advertisement earlier this year capturing 4 million views on Youtube. There also seems to be very strong brand awareness and brand loyalty amongst its users. I think a lot of users find WS refreshing as a financial services company because they cut through the "bullshit" and legalese, and try to simply things for the consumer. They also have their own in house team of designers and creative directors to do branding, design, and advertising, and this kind of vertical integration is generally unheard of in the financial services industry (reference).
Interestingly, the CEO’s ultimate goal is to take the company public. Therefore, I see an investment in POW.TO as being an early stage pre-IPO investor in WS (reference).
The goal is to get Wealthsimple to the size and scale to go public, something that Katchen said he’s “obsessed with.” While admitting that an IPO was still a few years down the road, Katchen already has a target of $20 billion in assets under administration (AUA) as the tipping point (the company recently announced $4.3 billion in AUA as of Q1 2019) (reference)
Ultimately, my sense is that a spun-out Wealthsimple IPO eventually be worth a lot, perhaps even more than POW.TO at some point. Obviously the company is losing money right now, and no where even close to an IPO, and there are still many chances that this company could flop. The best analogy that I can think of is when Yahoo bought an early stake in Alibaba (BABA) back in the early 2000s, and there came a point where their stake in BABA was worth more than Yahoo’s core business. I think an investment in POW.TO now is an early investment in WS before it goes public. (reference)
Expansion problems. In the UK, they reported significant losses and despite increasing users. (reference). The US is also an especially competitive space with lots of similar competitors.
The robo-advising, fintech space is highly competitive now, and the Big Five Banks and other investment/trading companies could easily start offering low-cost or commission free trading
Competitors such as Robinhood could also expand into the Canadian market and take out a huge chunk of WS's userbase
The X Factor
What I find particularly compelling about WS is they have aggressively positioned themselves to be a disruptor in the Canadian financial services industry. This is an area that has traditionally been thought to be a firewall for the Big Five Banks. There is also a generational gap in investing approaches, knowledge, and strategy, and I think WS has positioned itself nicely with first-time investors. My sense is that COVID-19 has also captured a huge amount of young adults with its trading app in the last few months, who will continue to use Wealthsimple products in the future. The average age of its user is around 34. As younger individuals are more comfortable with moving away traditional banking products, I think Wealthsimple’s product offering offers significant advantages over its competitors.
Power Corp is a Good Home
Currently POW.TO is trading at $26.30, down from its 52-week high of $35.15. I see an investment in POW.TO now as fairly low risk, and while WS grows, and there is also the added benefit of a high dividend stock. One of the most confusing things I found about Power Corp was its confusing corporate structure where there were two stocks, Power Financial Corp, and Power Corp of Canada. Fortunately, in Dec 2019, they simplified and consolidated the stocks, which also simplifies the holding structure of WS. I currently see POW.TO has a good stock to hold as well if you're a dividend holder, with a dividend of 6.86%. Also, POW.TO is patient enough to bide its time and let its investment in WS grow, unlike a VC that might want to sell it quick. For example, the reason why WS went with POW.TO instead of the traditional VC route is explained here:
Katchen has directly addressed the question of why he did not go the traditional VC route recently, saying: If you are a business that requires perhaps decades to achieve the vision you have, well, if you’re not going to be able to generate the kind of returns that venture needs is they will force you to sell yourself, they will force you to go public before you’re ready, or they will just forget about you because you’re going to be a write off. And so Katchen essentially flipped Wealthsimple to Power Financial. Power is well known as a conservative, patient, long-term investor. (https://opmwars.substack.com/p/the-wealthsimple-founders-before)
My belief is there is a huge unrecognized potential in POW.TO's massive ownership stake in WS that will be realized maybe 5-10 years down the road. I didn't really dive into the financials of POW.TO in relation to WS's performance, because the earnings reports do no actually say much about WS. I'm aware of the main criticisms that POW.TO is a mature company and dividend stock that has been trading sideways for many years, and the fact that WS is currently not a profitable company. I am not a professional investor, and this is just my amateur research, so I certainly welcome any comments/criticism of this thesis that people on this subreddit might have! (Please be gentle on me!).
Rule Britannia Progress Report I: Land of Hope and Glory
Hello, I'm Rule Britannia Lead Tiberium, and I'm proud to finally get out our first dev diary! We have been perfectionists about our content, not wanting to mislead or disappoint, so with many cuts and revisions we have finally belted this out for you. Of course, the current pandemic and other commitments have been a drain on our productivity, but we hope this will reinvigorate the community. Preface aside, this will mark the first Rule Britannia progress report, specifically about Britain's position in the mod. As it is the foundation on which the mod lies, it is by far the most important nation although one of the most absurd due to its surreal circumstances. As such our lore descriptions will be limited in scope due to how impossible of a task it is to summarize it with our current workforce. (note: read the events if you want more context! They are designed to be enjoyable to read, but are not required to understand the PR!) PREMISE: Britain, like in our timeline, was empowered by the events of the Glorious Revolution. However, instead of abandoning his Dutch ambitions, William III chose instead to ally his homeland with his new domain, leading to absolute naval hegemony and great profits. With Whigs dominant in Parliament, absolutism in Britain appeared to be on its way out. In addition, Britain masterfully defeated France in the War of Spanish Succession, like it did in our timeline. From here, the Empire would only gain strength as it squashed any other European power in consecutive wars until the present start-date. Due to the entrenched Whig parliament, the Jacobite uprisings of the 1740s never occurred, and remained a peaceful movement among some High Tories, and consequently the Highland Clearances in Scotland were never carried out. The 1700s remained prosperous, with continental affairs continuing the pattern of victories for the Empire and its allies. When the 13 Colonies and Canadian provinces revolted in the 1770s due to the rising tax rates and presence of Enlightenment liberalism, they were quickly crushed by the government after concessions were promised in exchange for their loyalty. This would eventually morph into the Commonwealth of North America, as seen in 1936. The 1800s would see this era of dominance continue. When the French revolution sparked after rising bread prices and royal incompetence wrecked the French economy, Britain was swift to intervene and established an occupational government after several years of fighting which restored the Bourbon monarchy, along with coalition allies Prussia and Austria. After Spain joined France for a brief period, it was forced to concede California, Florida, and the Louisiana territory previously ceded from France. From here, Britain continued to expand its mighty empire through all corners of the Earth, soundly defeating France several more times, the upstart Prussian giant, the Ottoman Empire, Spain with its ally Portugal, Russia, and even the mighty Qing empire. Clearly, it was poised for world domination. However, throughout all of this time, Parliament generally held the sway with the reigning monarchs preferring to delegate responsibilities to a trusted Prime Minister. Whigs and Tories, Liberals, and eventually Labour would all hold some importance, but one Prime Minister greatly altered the paradigm. Cecil Rhodes, a mining tycoon throughout Katanga, Zambezia, Bechuanaland, and the Cape had successfully clinched the Liberal leadership in the late 19th century. With his long premiership, he had defeated the Prussians, established the Commonwealth of Nations, and greatly restored the prominence of the then-reigning Victoria in Parliament, as he believed the Empire required a strong leader to guide it through the complexities of diplomacy, economics, and warfare without political squabbles interfering. This "Rhodes System" would define British politics until the start of the mod, which is why the nobility is much more prominent in-game. As such, this is all we will say regarding lore for now. Our main focuses are quality, gameplay, and entertainment rather than lore and narrative, at least at the moment, hence the lack of emphasis. THE STARTING SITUATION: The United Kingdom of Great Britain and Ireland is the global hegemon. Present on every continent, in every sea, and all across the skies, Britain is undoubtedly perceived as invincible. King George V Windsor (formerly Hannover-Saxe-Coburg-Gotha before anti-Prussian sentiments necessitated a change) has been one of its most popular monarchs, much like his grandmother Victoria. Soundly beating Mexico and several other belligerents, he gained praise for his wartime leadership. In addition, he remained scandal-free unlike many of his relatives. Sympathetic to the issues of the common man and woman, but also exceptional at dealing with higher society, he is perceived as a model Briton. However, his health is very much so in decline, at an impressive 70 years and ailing. He himself fears for the future, considering the beliefs of his eldest son Edward and the untimely death of his other son, Albert, in Mexico. Plus, Albert Victor, his disgraced brother, presides over India and yearns to return from his informal exile. Clearly, soon as he dies, Britain will face some political turmoil. Fortunately, however, his good friend the Viscount Hailsham, Douglas Hogg, is an experienced career politician who is known to handle any situation tactfully. A Tory but also a friend of many Labour and Liberal peers, he is the uniter Britain would call upon after the absence of its powerful monarch. Regardless of intrigue, the Empire seems to face a prosperous future ahead in the eyes of many. https://imgur.com/jcrrFqf (intro event) https://imgur.com/ZG8Kvpl (starting political screen) Britain starts of course, with George V. His Majesty's Prime Minister, Douglas Hogg can be seen in an experimental GUI to the right. Several national spirits mark what Britain has going for it, such as the expensive (and ongoing!) Anglo-Mexican War. Expected to be a quick victory, Mexico put up a strong resistance and fought with guerilla tactics in the Sierra Madre highlands and in its many deserts and jungles. In the May Offensive of 1931, even the Duke of York Albert was killed in action after Mexican mortars opened up deep behind enemy lines. As such, it remains a quagmire for the British armed forces used to naval supremacy and an accompanying naval invasion that'd quickly neuter the weakened opponent's forces. In the future, Britain will have to determine a strategy to avoid financial decay and finally vanquish the rebels. The next national spirit is simply a buff resulting from the popular rule of the King. The next national spirit is a debuff that signifies unrest in Ireland, due to the events following the disastrous famine of the 1840s and the continued Anglo dominance over land and rights within the Emerald Isle. As Britain's foremost domestic issue, you will have to debate whether Home Rule will keep Ireland content or whether other solutions are necessary. The next spirit is the mod's namesake, well partially, "Britannia Rules the Waves", a sign of Britain's impregnable naval superiority which it holds over the rest of the world. Two steps above gunboat diplomacy, Britain is able to preserve its holdings and ensure domestic protection with its powerful armada sailing the seven seas. Finally, the last national spirit is the sidelined parliament. It indicates Britain's rubber-stamp Westminster system that fails to accomplish anything more than it needs to, with the Coalition for the King largely dominant. While some Tories, Liberals, and Labour MPs have declined the label of the coalition, it is by no doubt the party which enables the enlightened absolutism present to this day. Composed of absolutists, aristocrats (despotic ideology), and Rhodians (formerly administrationist ideology), the Coalition for the King ensures a streamlined legislative process for the Empire. THE DEATH OF KING GEORGE V: Unfortunately, the Georgian era would not last forever. Meeting his tragic demise during the early hours of January 20th, 1936, George V passed away in his sleep. https://imgur.com/DSyUVB5 https://cdn.discordapp.com/attachments/534553586282004491/616658010265092120/teaser.mp4 (superevent teased previously in Discord) https://imgur.com/yCu0FML Britain's people went into several days of mourning. An inspirational and upstanding man met his Lord, leaving his people behind for eternity. Many did not know what the future held without the King and former Crown Prince at the helm of the ship christened Britannia. However, Edward's coronation would bring times of joy and youth to the mournful public. https://imgur.com/MVXMsef EDWARD REX https://imgur.com/Ve9cp8q https://imgur.com/5v3cqjG Parliament was quick to secure an effective transition from George to Edward. With some last-minute rituals, mourning, and commemorations, Edward was ready for his reign. King Edward, with all of his controversies, was a welcome sight to the public. The decrepit George V deserved rest, and his son seemed eager to take the crown to restore Britain's political processes. His coronation was cast to be a great event that anyone could attend at Westminster Abbey. After all was said and done, the audience roared with applause, knowing that the young man would preside over decades of prosperity. After all, he had a comfortable parliamentary majority to work with and an excellent government. https://imgur.com/kdzQ0mE As part of his goodwill missions following coordination, King Edward was due to have a dinner with several prominent British businessmen in order to set a good fiscal policy for the upcoming year. Unfortunately, tragedy would strike once more. This time, a regicide. https://imgur.com/HlDLvDN While the police were quick to take down the suspect, things would only begin to get worse. https://imgur.com/u84XAi0 https://imgur.com/dRqfizh Now with both the victim left mangled on the ground and the assassin dead, the case appears to be hitting a dead end just as soon as it had begun. Parliament, with the backing of the outraged public, immediately chooses to launch an investigation into the double assassinations and their motives. (This will be covered more specifically at a later point.) In addition to the investigation and the outrage following the shooting of the recently crowned King, there now lies a succession crisis. While it should logically go from George V, then to Prince of Wales Edward, then to Duke of York Albert, then to Duke of Gloucester Henry, an issue arises with the question of Albert Victor. Albert Victor, the disgraced brother of George V, was forced to abandon the throne. However, as he never signed an abdication decree in concordance with British law, some scholars maintain that he should be returned to the throne. With this dispute, it has officially become a succession crisis, with even some foreign houses staking a claim. This unprecedented political turmoil would prove to be a nightmare in no time. HERE ENTERS THE SUCCESSION CRISIS: https://imgur.com/jppruIE Pictured is the succession crisis tree, which coincides with the investigation. In conjunction with the investigation, you will be able to pick a side to choose depending on who is found to be the most untrustworthy (was Albert Victor's status as Viceroy of India the means necessary for an assassin to kill Edward) or was it Henry (who had an Irishman kill the King for patriotic reasons)? As such, this basic decision will compromise the rest of the tree's design. https://imgur.com/IVhiAnn https://imgur.com/6w3yJYR (excuse the January 1st, it's a debugging date, it would be approximately June or so in a game) The main decision you will be able to take is who will succeed Hogg. You are able to either select the Marquess of Salisbury (James Gascoyne-Cecil), a conservative or the Viscount Simon, (John Simon), a man who considers himself more of a reformer. This decision will be a crucial part of future Britain gameplay as you decide the future of parliament. https://imgur.com/O8p1vxZ https://imgur.com/Fg3aHEw THE REFORMERS: https://imgur.com/fBQMYy2 HENRY: https://imgur.com/tb8GsM6 Henry, the Duke of Gloucester, is the son of the late King George V and the brother of Edward. While he is no revolutionary nor a republican, he is by far the mainstream candidate most Britons would prefer. Kind-hearted, polite, and generally cast in a mold akin to his father, Henry will be the safest choice as well. He is eager to liberalize the franchise, restore some of parliament's integrity, and can shore up the Coalition as he implements some of his minor reforms to labor, finance, and colonial affairs. https://imgur.com/6YetX9Y He strives to stake his claim as the most legitimate and as the best option available, and portrays himself as a stable, moral, and credible choice to deliver the solutions to Britain's problems. https://imgur.com/k0GN3tB Henry also seeks to carry on the legacy of his deceased father, in an effort to, of course, drive up the sympathy of the British public to his potential reign. https://imgur.com/9yNKmuH Of course, Henry also meets with working-class individuals and other members of general society to break the mold of court affairs, as he wishes to be a true man of the people, like Richard Lionheart of yore. https://imgur.com/NAcHONf Nonetheless, the public are not his sole ally. Most of his family support him as well, much to the disgust of Albert Victor, who spends his time "campaigning" for the crown while Parliament debates deeming Henry an usurper and a fraud. If Albert Victor is successful in these rumors, Henry may be discounted or even arrested as Parliament eliminates him from the running. GEORGE: https://imgur.com/e5JYt8z The Duke of Kent, George is the younger brother of the aforementioned Henry. Deeply more committed to reform, he is also substantially more uncertain as a contender. Suspected to be prone to scandals himself, George is viewed with caution as a youthful dreamer rather than as a serious contender. https://imgur.com/7JIvslr However, he shocks many in the public when he takes bold steps to start where his brother left off. Quickly establishing himself as a contender, he gladly takes interviews and advocates for sweeping liberalizing reforms on a deeper scale than his elder sibling. https://imgur.com/OFBKAPy His connections with the roaring high society of the time also serve him well, as the children of Britain's elite gladly drink with him and discuss politics. It is quite clear that some MPs are swayed to his side for this very reason. MARY: https://imgur.com/Uj7NMkk However, the Duke of Kent is not the only contender emerging from Henry's ashes. Princess Mary, the Countess of Harewood and Lady Mountbatten, she and her husband have made a name for themselves politically before the beginning of the crisis. https://imgur.com/CIovI13 This husband of hers specifically, Lord Mountbatten, has made a name for himself along with Mary within Fabian circles in British political clubs. The Fabian society serves as Britain's foremost socialist organization, which simultaneously tacitly supports the Empire and the monarchy. However, there is no doubt that Mary is the most radical option. https://imgur.com/oRgbZFr She will advocate for social democratic policies much like those of Labour, which many suspect to be the fault of her husband. However, it is becoming increasingly clear that she has her own agenda... Overall, George and Mary will work together for their shared desire for reform, but ultimately, one of them will decide amongst themselves who will take the reformist caucus. https://imgur.com/avK4upm https://imgur.com/Ndl9GJI THE CONSERVATIVES: https://imgur.com/vo787Kg ALBERT VICTOR: https://imgur.com/r5uydS8 The estranged eldest son of Edward VII, Albert Victor was forced into an informal exile and abdication due to a myriad of factors ranging from his marriage to allegations of homosexuality. A sickly man from the years of media pressure, he is present at game start as India's Viceroy, finally being able to make a name for himself besides that of tabloid headlines. https://imgur.com/NZRYeWb His return to home shocks many, as it was the first time he had returned to the homeland since his departure decades ago. This repatriation would reinforce the scholars' claim that Britain may very well have manipulated Albert Victor out of his rightful throne. A theme which would define his upcoming campaign of sorts. https://imgur.com/wXXdDMQ https://imgur.com/Okp8KMw https://imgur.com/t5Ka0q3 There is no doubt Albert Victor is proper with conservatives. Edward and Albert had fought valiantly, but the other siblings had been idle within the homefront, especially after the death of Albert. Meanwhile, Albert Victor had crushed dissent within his Indian realms and established an effective colonial bureaucracy ultimately subservient to him. Careful to carry the support of industrialists, aristocrats, and other elements of society who preferred the status quo and the Rhodes system, Albert Victor made quick work forming alliances and endorsements. However, it would be incorrect to say that Albert Victor fails to attract the middle and lower classes, when he very much so can draw on nationalistic sentiment to carry his message of normalcy. https://imgur.com/q4OWCRg His record is also something he displays proudly, with medals adorning his uniform. His wife serves as a diplomatic marriage in addition to his affection, and his previous leadership serves to reinforce his message of vast credentials to rule. However, Albert Victor is a shady individual. With his domains of several hundred million, it is very possible for him to have obtained the funds or equipment necessary to carry out the assassination of his brother. Only the investigation will tell...until it decides against him! NIKOLAUS: https://imgur.com/5nWTzdR Nikolaus, Prince of Oldenburg, serves as the Dutch ruler at gamestart. Fervently imperialistic and admiring of nationalistic movements, Nikolaus' argument lies upon a crux of militarism and their support to rule. https://imgur.com/1ektf5B https://imgur.com/dBRlgfM His message resounds loudly with the military itself, entangled in the seemingly eternal Mexican "swamp". With a campaign to expand enlisted outreach with interviews and inspections, Nikolaus also can rely on the remnants of Albert Victor's conservative bloc and the endorsement of Douglas Haig, the famed General who had presided over the invasion of Anatolia and its subsequent occupation. With this small but loyal base, it is very possible for Nikolaus to cause an upset. https://imgur.com/7bdC7v4 Nikolaus is not alone in his bid to reclaim Britain's conservative legacy, strangely enough. DUARTE: https://imgur.com/6mnvNJG Duarte Nuno de Braganza, a relative of King Luis currently reigning in the Lusitanian nation has staked a claim to the throne albeit a very loose one. By far the most outrageous of the candidacies, he seeks to uplift the United Kingdom's Catholics and establish a true monarchy. Many suspect him to be a Portuguese plant in order to preserve the 1373 alliance in the face of adversity, others suspect him to be outright delusional. https://imgur.com/WrR3H53 Duarte proposes a simple but bizarre platform for the nation: mending the status of Catholics. This serves to directly oppose Nikolaus' Protestant convictions ironically, even though both are the most conservative choices. His detractors call him a crypto-Jacobite, but many see him as a man with a legitimate interest in healing the wounds present in Ireland. https://imgur.com/qrVv0fa In addition to his almost militant Catholicism, Duarte draws upon his leadership in Portugal to reassure Britain that he has more policies. With growing apathy in society as the crisis drags on, Duarte begins to establish himself as a very credible choice to juke the establishment's grip on society, perhaps he may even break the Rhodes system! CONCLUSION: While focus trees are lacking, and the investigation a seeming side note, we hope this premise will effectively set up how RB will play out. As such, we will generously answer questions on our subreddit and in our Discord's ask-a-dev channel. Ironically, Britain was one of the last countries to receive a "game plan" due to how unique its premise is. I think this serves to effectively lay down a foundation for future progress reports and hint at our future content, which we hope to deliver weekly once more, as most of our energy has gone into writing the events. Hopefully you enjoyed it all, and I would like to thank all the Team Members who helped deliver! Spuddatomic (co-founder and maker of the original map!), Darth Riki 01, Woodrow Wilson, mango, foxide, Lazergaz, uncountablyInfinite, bread, Conrad von Hotzendorf, Thunderslav, zamnil, Paradox, Boss, cikka, Lazergaz, Jaxx_On, Schizophrenia, Alzheimer, Silvanus, Jungle Rat, Sino, mop, PunkRadio, Turtle, Palks (the main source of inspiration for this premise!), Target, Wendell08, Ghesor, Calph, Dogs231, PontusMeister, 422, I Like Cake Too, Ame, HansTheColorizer, Vltava, jentren, thanosaekk, Theia, Azenia, Maximo, Danzig, JKrouss, PRW-8/32, GottNichtMitUns, YryesThePigeon, Jaspy, timbothy, TheOverseer, Shift, Victory143, semi, octorok, and lastly JeSuis! Next teaser will be hopefully early next week. We are committed to showing in-game, functional, content with gameplay elements! A release plan will be announced in the near-future as well, keep your eyes and ears focused! We are a team that focuses on quality and team morale over workload, hence our fluctuations in regards to teasing. We apologize nonetheless for the long wait and silence leading up to it. We will also begin to use the subreddit again, be sure to subscribe! RuleBritMod! Here is our Discord: https://discord.com/invite/jVptXCS Last but not least, I would like to shout out several other mods we work happily with. The New Order: https://discord.gg/CXgJ7K7 (many of our members hail from here originally!) Godspeed: https://discord.gg/hCMM5tY (One of our members is lead dev there!) The Next Moves Forward, a mod based off a British collapse in the premiership of Margaret Thatcher. https://discord.gg/dbVVr2k (One of our members is lead dev there!) Torch of the Protectorate, another mod I work on, and kind of an opposite to RB! (One of our members is the lead dev there!) https://discord.gg/2PNwgNA FoR is a project JeSuis works on, I think he'd appreciate the support https://discord.gg/zjhqWzQ Thanks for reading this far! Be sure to ask questions and follow rules while doing so. Tiberium. (DISCLAIMER: WE ARE NOT AT ALL RESPONSIBLE FOR WHAT HAPPENS IN THE OTHER SERVERS)(DISCLAIMER II: WE APOLOGIZE FOR ANY TYPOS OR GRAMMATICAL ERRORS, THEY MOST LIKELY HAVE BEEN RECTIFIED BY THE TIME THIS IS PUBLISHED) (DISCLAIMER III: WE DON'T HAVE A LEGAL TEAM THIS IS JUST MY RAMBLING AGAIN)
Hi all. What's the best platform for getting and reviewing real time order book data for the TSXV (and other Canadian exchanges)? I've paid for access on stockwatch.com and it's quite expensive. I don't mind expensive but it's also just not presented in a visually pleasing manner. For reference, I really like the way crypto exchanges display order book info with the infographic and also with columns for each of bid/ask, amount of bids at that price, cumulative bids between that price and current price. What options do you guys like?
How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation
In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.
Typical securities frameworks will cost Canadians millions of dollars (ie Sarbanes-Oxley estimated at $5m USD/yr per firm). Implementation costs of this proposal are significantly cheaper.
Canadians can maintain a diverse set of exchanges, multiple viable business models are still fully supported, and innovation is encouraged while keeping Canadians safe.
Many of you have limited time to read the full proposal, so here are the highlights:
Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.
Regular Transparent Audits
Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.
Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.
Background and Justifications
Cold Storage Custody/Management After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems: • Funds stored online or in a smart contract, • Access controlled by one person or one system, • 51% attacks (rare), • Funds sent to the wrong address (also rare), or • Some combination of the above. For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program. The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms. • 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective. • The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated. The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II. On The Subject of Third Party Custodians Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems. However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies. There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both. On The Subject Of Insurance ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC. However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.” ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance. In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework. A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians. On The Subject of Fractional Reserve There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds. There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past. Proof of Reserves/Transparency/Accountability Canadians need to have visibility into the backing on an ongoing basis. The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users. Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit. The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided. Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense. Hot Wallet Management The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets. However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process. A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage. Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.
Current Draft Proposal
(1) Proper multi-signature cold wallet storage. (a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet. (b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time). (c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7. (d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds. (e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers. (2) Regular and transparent solvency audits. (a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row. (b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored. (c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process. (d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify. (e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible. (3) Protections for hot wallets and transactions. (a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets. (b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy. (c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage. (d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange. (e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.
Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized. The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges. The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
Coinfield are a Canadian crypto exchange. With their referral program, you can get 40 SOLO, which is currently ~$22, plus a welcome bonus of 10 SOLO (~$6, though this one is not 100% guaranteed). For the referral bonus, all you have to do is deposit 100 CAD/USD/GBP/EUR. Steps:
You should see 10 SOLO added to your account, though this bonus is not guaranteed.
Deposit $100 CAD or $100 USD or €100 EUR or £100 GBP or ¥10,000 JPY or 300 AED to your account. Check if there are fees associated with your chosen deposit method, and make sure that your deposit covers any possible fees! The final amount deposited cannot be less than the above amounts, so you might want to deposit a bit more.
40 SOLO will be added to your account!
Check the fees page before proceeding, EUR wire transfers should be free but may be occasionally unavailable. If that is the case, the best way to proceed would be to deposit in CAD via credit or debit card, for which there is a 2.95% fee, so if you deposit $105 CAD, you should be good to get the ref bonus. Note that the minimum order size is 50 SOLO, and there may be a hold placed on your deposit, depending on your deposit method, check the bottom of the fees page for more info. Edit: I recommend withdrawing your deposit and bonus in XRP to another wallet or exchange like Bitpanda or Crypto.com. This is free, and XRP transactions only take several seconds. Referral info
Everyone please, I would seriously advise you to stay away from exchanges that have predatory practices that take advantage of new users and first time depositors, because they have no other way to make money. An exchange that is functioning properly makes money on either their trading fees or their spread. I am writing this to all the new people that are looking for bitcoin exchange/broker options in Canada. There are certain things you should look at and if the exchange in question has any or a combination of the following I would suggest you stay away, as the practices of these exchanges are the reason they are running on fumes and I would not like to see anyone on here get caught in another exit scam.
Deposit or Withdrawal fees on fiat or crypto (unrealistic amounts). There are plenty of other exchanges with no deposit or withdrawal fees and if the exchange is successful, this is not needed at all and is a failed business model in Canada.
Minimum withdrawal or deposit amounts on fiat or crypto (within reason). You should be able to deposit and withdraw as much as you'd like without restriction. This is a tactic that will most likely cause you to have to bring your balance up to a certain amount before you can withdraw. I would not consider this to be the case if the amount is $5 or less, as it does cost money to send bank wire and e-transfer.
Holds on funds and bank like activity (not including fraud concerns). No exchange should have to have a hold on any funds for any reason. It is your money and they are not a bank.
Right now in Canada, there are two highly rated exchanges that have the best history with almost no complaints on reddit (or any that seem to be of valid concern). They are Shakepay and Newton, which function much the same but their own unique properties and services. I am bi-partisan on what exchange you choose because they both have solid foundation, very good history and customer reviews and highest volume, but stay away from anything but them at this point is my advice to any newcomers reading this. Edit: Although Kraken is technically based in the US, they are a very reputable exchange and service Canadian clientele, I'm just referencing exchanges based I'm Canada right now. Edit 2: If an exchange has deposit or withdrawal fees, they should have a good justification for it, such as VERY low trading fees or margin account, cover mining fees or anything that you can logically see that would absorb this cost.
Ethereum needs to get serious about the decentralized NFT/Gaming scene, or it won't win
As the lead developer for Flowerpatch.app, it's clear that we are standing at a crucial time in the development of NFT based gaming. There are two major directions that the industry can go: (1) Big legacy brands like Nike and Ubisoft come in and make "NFT"s that are mostly tradeable and mostly usable. But the key thing here is that big brand like that do not care about decentralization, fairness, or whatever. They care about owning and protecting their brand, self promotion, which is what they've always done. They don't care if it's ERC721 on Ethereum — probably better if it's not, actually, since they want instant transactions and a backdoor that lets them ultimately control the tokens (i.e. their "brand"). As a result, several other competing blockchains have come to be, with the use of enabling big-brand-backed NFT-like gaming. Flow, Near, Tron, HyperLedger, Polkadot — all want an active gaming scene, and they are ready to make compromises in decentralization to make it happen. They are ready to pay teams to build on their network — most of the above blockchains have come and talked to us already. That's what Ethereum is up against — well funded legacy brands, armed with well funded new-age blockchains. They could build an item trading product that's 99% good enough feature-wise for gamers, while throwing fairness and decentralization into the trash (2) The gamers unite and demand that game items be tradeable, fair, decentralized, have true ownership. Big brands realize that there's tremendous value to building on a decentralized, open, unified ecosystem. Ethereum becomes the hub of NFTs, in the same way that Ethereum has already won DeFi and Tokens. Ethereum games would need to integrate more deeply into each other, with DeFi, and the larger Ethereum ecosystem to create a "network effect" that makes Ethereum the clear winner in the decentralized item ownership space. A consistent Layer2 strategy would need to emerge, to make actions like getting an item, transferring it to an NFT Exchange (like OpenSea) — instant and transparent I mean, yeah, it's gonna be messy. Both strategies will exist for some time, until the market settles onto what it really wants. But I'm just here to tell you, that if the Ethereum community / leaders continue to largely ignore NFTs, option #1 will probably win. Other blockchains are out there paying teams, and building tech that appeals to legacy brands. What do I mean by "continue to largely ignore"? Well, how about this recent tweet (or many others by vbuterin):
Luckily, there's many categories of ethereum applications (and other chains) that go beyond finance. Decentralized censorship-resistant publishing and communication, decentralized communities / governance / DAOs, DAOs for content curation, etc etc. All important work.
I love Vitalik, and feel like I share a lot of history with him, being a Russian/Canadian myself. But when he talks about NFTs, he talks about social impact, not gaming, like this clip: https://twitter.com/MintableApp/status/1106912717598679040 A lot of Ethereum's devs and leadership talk like DeFi, DAOs, Publishing, L2 Scaling, Finance are the only things that matter. Guys, GAMING made computers what they are today. We only have graphics cards as good as we do because gamers demanded it. We have this multi-billion dollar gaming industry that's being run by the biggest tech companies in the world (Microsoft, Sony). Gaming could be the very thing that takes crypto mainstream, like CryptoKitties almost did (until the scalability stopped their epic run). Why ignore it? So this is my call to action:
Ethereum Leadership, please pay attention to gaming. It matters. It drives adoption. Actively aim to beat the other blockchains. Fund Ethereum gaming companies, and agree with them that they'll stay on Ethereum. Promote the NFT gaming scene, and don't treat us like an afterthought that's "just for fun" or "just gambling"
Ethereum Users, please care that crypto gaming happens with Ethereum, in a fair decentralized way. Ethereum has won DeFi, ERC20s, but not gaming (yet). Let's win across the board!
All the best guys, and a bright future to this excellent network ❤️
[FULL ANALYSIS] Bitcoin exchanges and payment processors in Canada are now regulated as Money Service Businesses
Hello Bitcoiners! Many of you saw my tweet yesterday about the Bitcoin regulations in Canada. As usual, some journalists decided to write articles about my tweets without asking me for the full context :P Which means there has been a lot of misunderstanding. Particuarly, these regulations mean that we can lower the KYC requirements and no longer require ID documents or bank account connections! We can also increase the daily transaction limit from $3,000 per day to $10,000 per day for unverified accounts. The main difference is that we now have a $1,000 per-transaction limit (instead of per day) and we must report suspicious transactions. It's important to read about our reporting requirements, as it is the main difference since pretty much every exchange was doing KYC anyway. Hopefully you appreciate the transparency, and I'm available for questions! Cheers, Francis ********************************************* Text below is copied from: https://medium.com/bull-bitcoin/bitcoin-exchanges-and-payment-processors-in-canada-are-now-regulated-as-money-service-businesses-1ca820575511
Bitcoin is money, regulated like money
Notice to Canadian Bitcoin users
If you are the user of a Canadian Bitcoin company, be assured that:
These regulations only target virtual currency exchanges and virtual currency transmitters (e.g. payment processors, custodial wallets).
No action on your part is currently required. It is businesses that have to comply, not users.
You may notice that the exchange service you are using has change its transactions limits or is now requiring more information from you. You can stop reading this email now without any consequence! Otherwise, keep regarding if you are interested in my unique insights into this important topic!
Background on regulation
Today marks an important chapter for Bitcoin’s history in Canada: Bitcoin is officially regulated as money (virtual currency) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada (PCMLTFA), under the jurisdiction of the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). This is the culmination of 5 years of effort by numerous Bitcoin Canadian advocates collaborating with the Ministry of Finance, Fintrac and other Canadian government agencies. It is important to note that there is no new Bitcoin law in Canada. In June of 2014, the Governor General of Canada (representing Her Majesty Queen Elizabeth II) gave royal asset to Bill C-31, voted by parliament under Stephen Harper’s Conservative government, which included amendments to the PCMLTFA to included Bitcoin companies (named “dealers in virtual currency”) as a category of Money Service Businesses. Thereafter, FINTRAC engaged in the process of defining what exactly is meant by “dealing in virtual currency” and what particular rules would apply to the businesses in this category. Much of our work was centred around excluding things like non-custodial wallets, nodes, mining and other activities that were not related exchange or payments processing. To give an idea, the other categories that apply to traditional fiat currency businesses are:
Foreign exchange dealing
Remitting or transmitting funds
Issuing or deeming money order or similar negotiable instruments
When we say that Bitcoin is now regulated, what we mean is that these questions have been settled, officially published, and that they are now legally binding. Businesses that are deemed to be “dealing in virtual currency” must register with FINTRAC as a money service business, just like they would if they were doing traditional currency exchange or payment processing. There is no “license” required, which means that you do not need the government’s approval before you can operate a Bitcoin exchange business. However, when you operate a Money Service Business, you must register and comply with the laws… otherwise you risk jail time and large fines.
What activities are regulated as Money Service Business activity?
A virtual currency exchange transaction is defined as: “an exchange, at the request of another person or entity, of virtual currency for funds, funds for virtual currency or one virtual currency for another.” This includes, but is not limited to:
Bitcoin trading platforms (orderbooks)
Bitcoin exchange platforms (fixed-rate)
Selling or buying Bitcoin OTC professionally
Crypto-to-crypto trading (orderbook, fixed-rate or OTC)
Notice to foreign Bitcoin companies with clients in Canada
Regardless of whether or not your business is based in Canada, you must register with FINTRAC as a Foreign Money Service Business, if:
You direct your MSB services at persons or entities in Canada
The regulation of Bitcoin exchange and payment services has always been inevitable. If we want Bitcoin to be considered as money, we must accept that it will be regulated like other monies. Our stance on the regulation issue has always been that Bitcoin exchanges and payment processors should be regulated like fiat currency exchanges and payment processors, no more, no less. This is the outcome we obtained. To comply with these regulations, we are implementing a few changes to our Know-Your-Customer requirement and transaction limits which may paradoxically make your experience using Bull Bitcoin and Bylls even more private and convenient!
The bad news
We are adding per-transaction limits in addition to daily volume limits.
The per-transaction limit for accounts with limited verification is $1,000 (previously $3000). To conduct transactions over $1,000 you must get your account verified.
We require users to provide their Date of Birth as a requirement to change their verification status to “Verified”.
We require users to provide their Occupation as a requirement to change their verification status to “Verified”.
The good news
We are increasing the daily volume limit from $3,000 to $10,000 for users that have the “limited” account verification status. Users with limited account verification can do multiple transactions as long as they are each below the $1,000 threshold and as long as they don’t exhibit suspicious behavior (see details below).
Identity documents will no longer be required for users that can be identified using their credit files. They will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer.
Connecting bank accounts to Bull Bitcoin using the flinks bank verification software will no longer be required for users that can be identified using their credit files. This will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer
The user’s KYC info (name, address, date of birth and occupation)
Suspicious transaction reporting
Satoshi Portal is required to make suspicious transactions report to FINTRAC after we have detected a fact that amounts to reasonable grounds to suspect that one of your transactions is related to the commission or attempted commission of a money laundering offence or a terrorist activity financing offence. Failure by Satoshi Portal Inc. to report a suspicious transaction could lead to up to five years imprisonment, a fine of up to $2,000,000, or both, for its executives. We are not allowed to share with anyone other than FINTRAC, including our clients, the contents of a suspicious transaction report as well as the fact that a suspicious transaction report has been filed.
What is suspicious activity?
Note forbitcoinca: this section applies ONLY to Bull Bitcoin. Most exchanges have much stricter interpretation of what is suspicious. You should operate under the assumption that using Coinjoin or TOR will get you flagged at some other exchanges even though it's okay for Bull Bitcoin. That is simply because we have a more sophisticated understanding of privacy best practices. Identifying suspicious behavior is heavily dependent on the context of each transaction. We understand and take into account that for many of our customers, privacy and libertarian beliefs are of the utmost importance, and that some users may not know that the behavior they are engaging in is suspicious. When we are concerned or confused about the behaviors of our users, we endeavour to discuss it with them before jumping to conclusions. In general, here are a few tips:
Don’t provide false of misleading information. We will know right away if your date of birth, address and name don’t match.
Don’t try to exploit loopholes in the KYC process.
Don’t transact on behalf of someone else without telling us.
Be cooperative with customer support.
Here are some examples of behavior that we do not consider suspicious:
Coinjoin or other Bitcoin privacy techniques.
Using VPNs, TOR or VOIP phones.
Asking questions about, or criticizing, our privacy policies.
Talking negatively about banks or government.
Here are some example indicators of behavior that would lead us to investigate whether or not a transaction is suspicious:
Making statements about being involved with criminal activity.
Saying you don’t want the government to know about your transactions.
Asking advice about concealing source of funds or tax avoidance.
Funding your account from a bank account that is not in your name.
Conducting transactions on behalf of someone else without telling us.
Trying to falsify your identity or impersonating someone else.
Making multiple bill payments to the same recipient, or multiple Bitcoin purchases, in a way which seems structured specifically to avoid the $1,000 transaction amount KYC threshold.
Continuing to perform transactions that are unnecessarily complex, inefficient and not cost-effective after having been advised otherwise by our staff.
What does this mean for Bitcoin?
It was always standard practice for Bitcoin companies to operate under the assumption they would eventually be regulated and adopt policies and procedures as if they were already regulated. The same practices used for legal KYC were already commonplace to mitigate fraud (chargebacks). In addition, law enforcement and other government agencies in Canada were already issuing subpoenas and information requests to Bitcoin companies to obtain the information of users that were under investigation. We suspect that cash-based Bitcoin exchanges, whether Bitcoin ATMs, physical Bitcoin exchanges or Peer-to-Peer trading, will be the most affected since they will no longer be able to operate without KYC and the absence of KYC was the primary feature that allowed them to justify charging such high fees and exchange rate premiums. One thing is certain, as of today, there is no ambiguity whatsoever that Bitcoin is 100% legal and regulated in Canada!
Hello all, I'm not totally new to crypto, but I've only deep dived on the in and outs of it recently. I'd love to have a longer form discussion on the state and future of cryptocurrencies in Canada. I'm interested more in discussing mass-adoption rather than from traders perspective. The general public is going to be buying and spending, and ideally saving and investing. I don't know near everything, but am eager to learn and fill in the blanks of my knowledge. Please point out any mistakes or misinformation I might have here.
The Current State
From what I gather, the crypto businesses in Canada are only recently beginning to show some forms of maturity and it's becoming easier to trust the established players every day. I started with Shakepay late 2018, and was impressed with the experience. Only recently have I actually moved funds out of there and held in a proper wallet. (Quite happy with Edge Wallet for the time being) I did have some other experience from hosting a Storj node, and holding ERC20 tokens. Shakepay seems to have the lowest barrier to entry for someone looking to buy Bitcoin. Very fast, and very simple. The fees built in to the spread are pretty reasonable given the experience they offer. But they seem to offer the least to new users who are looking to learn about crypto. I started exploring other options, and had made accounts on a few platforms. It seems like Newton has the best prices around. The only thing Shakepay has on them is e-tranfers, which Newton has said is on the roadmap, and #shakingsats. Newton also offers $25 for a referral vs Shakepay's $10. Unless Shakepay can reduce their cost, or offer something new, is Newton set to overtake them? Assuming they have e-transfers operational soon. I know I won't be on Shakepay for anything besides the free satoshis everyday, and that's certainly not helping their bottom line. Bull Bitcoin is interesting, offering integration with bylls, giftcards for BTC, and scheduling reoccurring purchases. Though they do not have the slick interfaces of Shakepay/Newton. IMO, someone is going to need to be the first real "bank" in Canadian crypto and cater to the general public, the less technically inclined. There will always need to be banks for the people who don't feel comfortable managing their own assets. Argent is a very slick "Smart Wallet" that is showcasing how this next form of banking might look. Who do you see catching the public's eye as the future of banking? Tangerine/ING shook things up years ago, now Wealthsimple in the past couple years. Will Newton/Shakepay/etc lay the groundwork for themselves to be that player in the coming years, or will someone from fiat fianance cross over to crypto. Weathsimple's deep VC pockets could buy up an existing exchange and bring mass adoption.
I have been making money online since 2015. There are so many ways that I can't remember them all, but here is a list of most of them - including the most significant ones. Hope this helps you somehow. As I'm from Canada, many of these (but not all) are for Canadians. From highest-earning to lowest, for your convenience:
Instead of telling the whole story of each method, and since you care most about the highest-earning opportunities, let's discuss those and if anyone has questions about something not mentioned in this post - don't hesitate to ask, I'm happy to explain.
This is by far my biggest earner. Basically, back in mid 2017, I realized that the crypto market was starting another bull run. I had previously learned that it was possible to make money advertising for companies by adding their custom signature to my account profile so that each post contains links to their website/products underneath it. They paid a lot more back then, because Bitcoin was only valued at around $700-1,000 when I started. This forum also doesn't care about having multiple accounts - in fact, it's fully allowed. Some people have hundreds of accounts. Therefore, I quickly searched the web for people selling their accounts... and bought a bunch of decently-ranked ones such that I was able to post full-time essentially, making up to $5/post which only takes a minute or two. The best campaign I joined is one called DeepOnion, which paid almost $30,000 in about 1 month!!! All I had to do is make 10 posts a week per account, and they deposited their coin to my wallet. After it was added to an exchange, the price quickly rose and one night my portfolio value went from $3,000 to over $20,000. I sold literally at the peak! I also made money from Bitcoin paying campaigns (they pay in BTC as opposed to their token/coin). Another big score was a campaign called ATLANT, where I made well over $20,000 ...however, didn't sell my tokens and now they are worth a fraction of that. Oh well. With the above said, I don't recommend doing this anymore, as the forum is filled with 3rd world spammers who realized that it was possible to make big money a couple of years ago, and now they have bots spamming constantly and applying to campaigns and such. I haven't posted there in a long time, probably over 6 months, because it wasn't worth it anymore. It was great while it lasted.
Notice how most of my earning comes from crypto? :p Well, I found a high-ranking Reddit post about Bitcoin that was ranked in the top 3 on Google for multiple good long-string keywords. In other words, many people (I'm talking hundreds) were finding it on a daily basis. I got my comment to the top spot, which includes an affiliate link and so over 5,000 people ended up signing up and I made a lot from it. My estimate is about $10,000 USD equivalent (pays in BTC daily), although could be more.
This is the same deal as Slickdeals, as explained below. However, after SD banned my accounts, since I had a high-karma Reddit account, I realized that my clients might be interested in advertising in "deals" subreddits (mostly Amazon, although it varied). Sure enough, they were and I got paid up to $300 for a single post in popular subreddits.
This is an app that pays you to lose weight. There are a few different types of challenges, including personal, individual and team challenges. The personal challenge is the one I am currently focusing on, as I bet $125/mo over 12 months ($1500), and if successful, stand to win $4,900 or $3,400 profit. I started at 360 pounds, and must weigh out at 180 pounds or less after 1 year to win. (I know, it's lots of weight to lose, but there is tons of money at stake.) If you join using my referral link, you get $40 added to your prize and I also get $40. By the way, most people who join make a mistake of betting too much or too little. For example, you might get the same winnings by betting $100/month or $500/month, because the algorithm caps out at a certain amount. With that said, use this calculator to get the exact amount that you should bet to maximize your ROI (click on "Calculate a Healthy Wager"). I didn't know about this before signing up, and ended up betting more than I had to make the same amount (although only $12).
I had a startup similar to Groupon, and had made a few Slickdeals accounts because of that. One day while driving, it occurs to me that people might be willing to have me post on SD using my account since the traffic is so high. Well, I drove straight to the library and posted my Skype contact on about 30 threads on Warrior forum, and that same night I was getting contacts from China and it never stopped. This was way back in 2015, and I had 3 accounts and made $20 per post. I was doing about 1 post/day and sometimes getting $5 to do upvotes as well. All-in-all, after contracting out someone on Fiverr to automate the whole thing, my accounts ended up getting banned and that was that.
During the hoverboard craze of 2015, I made a couple of rudimentary sites and managed to sell about 12 in total, making about ~$100 profit per sale, and selling the sites for $750 and $250 respectively for about $2,000 in total profit. This is the first time I used YouTube as a marketing medium, specifically paid product placement, which you can see here. This video sold 4 boards & I sold the site for $250, and the board cost about $350, so it was a good deal in the end. Well, that about sums up my online earning history. I'm sure there are (many) other ways I've earned a buck, but simply don't remember them all. Again, don't hesitate to ask any questions you may have and I am more than happy to answer. Thanks for reading. Edit: it's great to see that this post is interesting to many people My best suggestions to make fast, easy money are the following:
Growing Hydroponic Lettuce this is a new one to me, but I recently started growing lettuce and not only is it super enjoyable, but it's much more cost-effective than buying it from the store. Checkout this video which shows how. All that is needed is a container with some 2 or 3 inch holes, some "net cups" to hold the lettuce in, and some liquid nutrients which are available on Amazon.
Coinberry (non-ref) I literally signed up, verified my account and got the bonus within an hour. There is a 3 day hold to withdraw funds, but it's an easy $20 and they also give an extra $10 "customer appreciation bonus" after your first deposit, so you get $30 total.
HealthyWage (non-ref) If you need to lose weight anyway, then you might as well get paid while doing so. I recommend doing a minimum amount of weight-loss over 6 months, to make it easier on yourself. When you signup with my link, we both get $40.
Dietbet no ref link, but this is a really good earner. I make about $200/month with it by playing in 9 games simultaneously.
Honeygain (non-ref) this one is entirely passive, and I highly recommend it. Simply download the app and you make money for browsing online, without doing anything else. I make about $50/year with just my phone. When you signup with my link, we both get $5.
Crypto.com (non-ref) this is a legit cryptourrency site that gives you $50 when you sign up & deposit $250. I know it's legit, because I just signed up a few days ago and already got my bonus. Simply buy their crypto in the app with your credit card & stake it for 6 months, and they give you $50.
This is just a review for anyone else curious about getting into crypto and unsure of a wallet. The market is flooded and there are many many options for wallets. You can ask all of them why they're the best and they will tell you their varying reasons to choose them. I read them all just as anyone should before committing. Now as a Canadian I have it particularly difficult because exchanges here are few and far and most banks have blocker crypto through credit cards. It is a pain in the ass to figure out how to get anything without sending your ID and info for KYC/AML reasons. I get it. I also understand the trust thing and I don't want to sign up with every single account giving that stuff. Enter Atomic Wallet. I don't need to order a physical wallet (I'm making small moves, I will be upgrading to external as soon as I get more serious.) and I can store my crypto safely. As safe as I can keep it at least. I find a lesson in that, don't be an idiot and my crypto is safe in Atomic Wallet. My key is stored, written by hand two times stored in two places with password only one on copy, also hand written. Transactions are nerve racking every time. It has a delay on the exchange of 2-25 minutes varying. When I exchanged ETH for NEO it took almost half an hour to process and I thought I made a mistake. All good though. Atomic have great customer service as well. I haven't had any issues, they're active in their sub and others for replying to concerns. I've had no serious problem to need to contact them direct but the FAQ and a little research into them as a company and you realize they're legit. As for the platform, I like it. I'm a simpleton, I like apps to be easy. It's very straight forward and just secure enough to make sure you're cautious about what you do. There are more cryptocurrenies than you'll ever be able to track and most are available on the exchange. My one complaint so far is I wish I could enter the quantity I want to PURCHASE and it convert to what I send. Example. I want to send ether for neo. I now have to say how much ETH to send for (x) amount of NEO. It would be nice to do it reverse because NEO only deals in whole coins whereas ETH does not. It isn't also easy to almost accidentally reset the wallet on the main page. Be careful where you tap, it's an anxiety rush when you almost delete a wallet. Thankfully, with the key written down and stored safely it would not be an issue. Especially because I can also use the key on my laptop just as easily to get everything back. Be smart about safety and Atomic Wallet will be perfect for you. I will be sticking with it until I a) need a hardware wallet because I have too many coins or b) Atomic come out with a hardware wallet.
What's the best Canadian crypto exchange to use in April 2020?
I am curious about crypto and I want to buy a few hundred dollars worth for the luls. I was wondering if there is a consensus on the best and most popular bitcoin exchanges available to Canadians right now? I looked up some older posts and names like Shakepay and Bitcanuck are mentioned, and of course you have the international big boys like Binance/Coinbase. But all these posts are at least a year old so I'm curious if there have been any changes in this market.
I want to thank everyone who replied to our survey! Your feedback is extremely valuable! Here are the results and how they're helping shape our direction.
What goals would you like to see us accomplish? What's most important to you in how this Quadriga situation ends?
This was an open-ended question and the answers varied widely (and there was definitely a lot of responses which mentioned multiple goals). Here's a summary:
65% mentioned recovering losses for affected users.
45% described a desire to get better standards on Canadian exchanges.
30% included justice for victims.
25% desired education on crypto-asset protection.
20% had the creation of the new exchange.
The justice theme has been entirely overlooked by what we're doing. Discussing the idea on the Quadriga Uncovered Telegram group, it was determined that there was definite interest in a potential letter-writing initiative. One possibility would be sending letters to the RCMP to request the exhumation.
Is there any part of our initiative which confuses you?
Almost universally, there was no mention of any confusion. The feedback we did receive:
"The website landing page could provide an executive summary of the key aspects of the initiative".
The front page was last updated March 30th. We are constantly experimenting and improving the front of the website and our presentation of ideas and welcome any insight.
"I was worried with the proposal to have a token for affected users. The intention may be ok, but tokens and ICOs have a bad reputation for being scams. I confess that I didn't read the website of the Initiative, but from communications, I didn't see the association between the Initiative and the official committee."
We should make clear we are fully separate from the bankruptcy process. There is no tie to the official committee, although we have gotten their feedback throughout. This is an opportunity for the business community to provide additional help for victims.
We are contemplating the need for having blockchain-backing, however it does provide the ability to have greater transparency in the distribution/supply, more control in the form of a multi-sig smart contract, and easier liquidity options.
What we are doing is fundamentally different from any ICO. Tokens are distributed 100% free against verified losses. Redemption happens over time for utility (products/services) or goodwill (best-effort redemption) and it's always a fixed value of $1.
"Generally i understand. Confused about progress and value offer to crypto enthusiasts."
The initial (very first) value proposition for the tokens will be the ability to offset trading fees on the partner exchange, where we expect that traders may adopt having a small stash to cover their trading expenses as they trade. From there, we have other businesses interested in accepting partial payment in tokens. Basically, tokens are spent in place of dollars to get a discount at participating businesses which wish to support affected users.
In terms of progress, we are still waiting for three things:
Partner exchange full launch.
First bankruptcy payout to complete.
Reaching 1,000 signups (as necessary for our deal).
Please feel free to reach out on Telegram and Reddit if there are any further questions!
Is it more important to you that we focus on (a) helping victims of Quadriga recover, (b) educating more people about Quadriga and other exchange fraud, or (c) preventing future exchange fraud events like Quadriga?
Of the first or only choice picked, 70% chose (a) helping victims of Quadriga recover, while 30% chose (c) preventing future exchange fraud events like Quadriga. (a) was mentioned in 80% of cases, and top choice in 70%. (b) was a second choice in 30% of cases and mentioned in 35%. (c) was mentioned in 65% of responses and top choice in 30%. The educational portion of our initiative was seen as the lowest value. We are floating the idea of replacing the Education goal with a separate Justice goal, which is composed of letter-writing and other advocacy to help speed up any potential criminal investigations.
What bothers you most about Canadian cryptocurrency exchanges?
The responses varied widely. Here's a selection:
"The lack of unbiased information on how trustworthy exchanges are."
"The lack of transparency."
"that they are unregulated"
"I only use a non-custodial exchange now (Bull Bitcoin). The inertia and apathy of the government bothers me a lot. After Quadriga there should have been an inquiry. Even my emails to MPs Marie-France Lalonde and Bill Blair got no response. It's not realistic to wait for exchanges to 'self-regulate'."
"Terrible for trading and unreliable"
"Where is the regulation and oversight?"
"It's difficult to know which one is safe and w[h]ich one is not. It's easier to go to a bigger exchange (eg. Binance, Kraken, ... ) who has a solid reputation than Canadian one (at least for now)"
"Slow volume, difficulty to access for some, security"
"Security, trust, support, education"
There is clearly a lack of satisfaction.
Should preventing events like Quadriga focus more on regulatory reform (working with regulators) or trying to create change through setting the example on one exchange and go from there (similar to how "Tesla" has electrified vehicles)?
40% of respondents desired an approach which included both aspects.
40% of respondents desired an approach of setting an example in one exchange.
20% preferred a regulatory approach.
"(c), creating an independent classification/review system that would allow users to know which exchanges are most trustworthy, and to force less trustworthy ones to shape up."
There are a few such services out there. Key issues are that these opinions can be influenced by referral bonuses, the exchange reputations change over time (as was the case in Quadriga), and there is limited information on which to base the evaluation. Many reputable third parties have recommended shady services that subsequently failed.
Pressing forward on both fronts appears to make the most sense.
Would you rather have the recovery run inside of a for-profit exchange (sort of a marketing/promotion idea to push people onto a safer exchange) or as an independent group of affected users pushing for our own interests (working with the safer exchange and other businesses potentially similar to a labour union or political advocacy)?
The end result:
The majority (55%) prefer to have the independent group advocating for affected users.
A minority (35%) prefer to have it run in a for-profit/promotional way inside the exchange.
There were 10% of responses indicating both would be acceptable, or no clear preference.
We will be working to run this independently, however working closely with our partner exchange as a joint project (and it is definitely a promotional tool for them).
If given the choice, would you prefer (a) $20 cash each year for 10 years (slower recovery with full choice), or (b) your choice of $200 worth of discounts on products/services that are donated by small businesses which you could use this year (faster recovery with less choices)?
60% indicated a preference for (b), and 40% had the preference for (a). There is clear interest in focusing on both, which will push the fastest and most flexible recovery.
Affected users have a liquidation option which allows non-victims to purchase their tokens on the exchange. How do you feel about charging non-victims a small fee (5 cents per token) that is split between funding the project and a pool for affected user payout?
50% expressed outright support for the idea. Below are more detailed responses and comments:
"indifferent, although I think any fee will end up factoring in to the exchange rate on the value of the token. If people are willing to pay $10 for a $15 coupon, then a 5% fee might mean they'll only pay $9.50"
This is undoubtedly true. In your example, 25 cents would go to the project, 25 cents to affected users, and $9.50 to the seller. As opposed to $10 going to the seller.
"I am not yet clear on the cost structure of the proposed solution. Has the cost of managing the recovery effort been accounted for?"
It hasn't been properly accounted for, and this is one possible solution.
"I think that it is more important to have broad communication, reaching out to public at large and crypto communities in other countries. Then there should be multiple ways for different communities to contribute financially to affected users. I don't like the idea of fees and tokens because it seems to distract from the larger tasks of communication, rallying, documenting and advocating."
You bring up great points. Outreach is important, as is flexibility in approach. If you have more concrete ideas we would love to consider them!
"Good idea, but it restricts the on boarding of new users"
This is a fair point. The hope is that those participating want to help.
"I would prefer to avoid this option, Unless we can show that there are many added benefits from using this platform over others, thus justifying the fees and making it more acceptable to users."
Absolutely. Hopefully there will be many added benefits.
"I think it a good idea, fees will go anyway to affected users, I totally agree"
Awesome. That's definitely the intent.
"better not tax when tokens are transferred to the blockchain - tax the transaction (something small, in order not to affect the volume/liquidity too much) like what they are doing with the flight tickets in Quebec"
Absolutely! This would be a transaction cost only.
At the moment this has not yet been agreed upon by the partner exchange.
Have you discussed the project with anyone else who lost funds in Quadriga? What kind of feedback are you hearing?
40% said they've discussed it. 40% have not. 20% didn't answer (or it was hard to understand). Some of the responses:
"only online, and there there seems to be some confusion about the projects goals, some concerns about the connection to a for-profit exchange, and a general 'one bitten twice shy' mentality."
"Yes, Matt and my spouse. The problem was foreseeable. We just all ignored the risk because we were sold on the simplicity. The first red flag I saw was that accounts could be reloaded through an entity in China, which did not make sense, but I ignored it because of my perceived impression of protection given that the operator was in Canada."
"Yes - most have given up hope of recovering funds"
" I can't follow the chats on Telegram. I gained no knowledge the times I tried to read the discussions there. In fact the discussions there seemed to be not very polite. I wasn't able to connect with any other affected user. I wish there were some more structured gathering. Maybe a webinar would be nice."
Note: This sounds like it may be talking about the separate and more popular Quadriga Uncovered Telegram group. We would be very interested for any examples of impolite discussions on our Telegram group.
"This recovery process started out fine, but has turned into a circus show as is usual with lawyers who naturally want to stretch cases out to steal more money from victims."
"Not for now, I don't know any other victim (except members of Quadriga initiative)"
"Its your fault for keeping it on an exchange, what did you think was going to happen. There will be no money left after the 'bankruptcy'.. Lightning will solve all these problems other than recovery of funds."
Many affected users have strong privacy concerns and shame regarding what happened to them, such that they are even hesitant to share basic details. What do you feel is the best way to build trust and openness among the affected user community?
Here are some of the replies:
"I really don't know. Keeping things as anonymous as possible might help, but then the project would also need accountability to show that most of the tokens weren't sent to your own account. It's a tricky problem."
Absolutely. We also need to consider the various ways the project could be defrauded.
"What you are doing now. I am just not clear on the sustainab[i]lility of this effort without appropriate financial support."
"We all lost. We got burned. No shame in getting burned. It happens."
"There must be a way for affected users to connect to each other. Communication is the foundation, and it can be done preserving privacy. Some ideas include a webinar, chat tools that preserve privacy, etc. I heard of the documentary but I don't know what will be there. I think it is important also for the public at large to know how Quadriga affected users. That is, it's important for some personal stories to be published, ideally in the mainstream press."
We have Telegram, Reddit, and Twitter. A webinar would be great! There have been a number of mainstream news articles on Quadriga, although it's not well known outside of the crypto community. We welcome any further ideas for platforms.
"I would use the angle that crypto will continue to gain traction as time goes on, and that although the affected users were victims of a terrible fraud, we have an opportunity to prevent this from happening to others. I would also use the fact that this initiative has gained a considerable following and that affected users are all in this together, whether we want it or not."
"Maybe a guarantee that nobody will be further persecuted would help."
Hopefully no affected users are persecuted. Who's being persecuted?
"I don't know what else could be done for now."
"Just let us go forward."
"Once you demonstrate positive effects (and communicating about them), and set up ways to contact you securely, the users who have privacy concerns will contact you. You should have anonymous way to communicate with you (maybe using memo.cash?)"
Feel free to use an anonymous handle for any communication with us via Reddit, Twitter, Telegram, or email.
"Simple questions, good job :). Wonder about the stages of loss/gr[ie]f. Maybe the stinging pain needs to subside before people will trust."
Notes: Percentages rounded to the nearest 5%. Thank you very much for everyone who took the time to respond! We will continue to study your answers as we move forward!
Removed comments/submissions for /u/OverLeveraged14
Hi OverLeveraged14, you're not shadowbanned, but 97 of your most recent 105 comments/submissions were removed (either automatically or by human moderators).
ft8ds4z in CryptoCurrency on 07 Jun 20 (1pts):
bitcoin relies 100% on confirmation bias. everyone yells ''its amazing'' because they're financially biased, but they dont actually believe it. they just hope someone will pump their bags. to me the...
frm76ad in Crypto_com on 24 May 20 (1pts):
simply put, they dont support canadian banking and canadian dollars. at least yet. might change when they add debit card for canada since i would assume that will be denominated in CAD but i could...
i cant wait for 1000sat/byte as a standard when btc hits 100k$! its gon be great! i really dont care if 90% of my paycheck vanishes in a transaction fee cause ill hodl till i die! i already threw...
frjwzk9 in CryptoCurrency on 23 May 20 (1pts):
well, at least he's not shilling a scam this time i guess?
frjvori in CryptoCurrency on 23 May 20 (1pts):
people didnt expect that kind of bull run in 2016, at least no that i remember. there was some hype early on in 2017, specially because of ETH, i still cant tel wheter or not btc rode on eth's...
frjt8r7 in CryptoCurrency on 23 May 20 (1pts):
eth by far. bitcoin is racing towards a dead end and everyone knows it but choose to ignore it and scream moon all day long. its sad but true bitcoin cant sustain anymore growth and there's no plan...
frjr53k in technology on 23 May 20 (1pts):
how about let it fucking sink so it can be bought for a penny on the dollar? only thing this system is doing is promoting irresponsible business management because ''why take precautions or innovate...
frjq6q8 in technology on 23 May 20 (1pts):
the best way to make you gmail inbox safer is to use protonmail instead haha.
frjg2ez in CryptoCurrency on 23 May 20 (1pts):
i can attest to this. i did a piece that shows how 4mb block would HELP bitcoin adoption AND decentralization and was banned for promoting BCH, which i havent talked about once in all of my...
frjfwao in CryptoCurrency on 23 May 20 (1pts):
no, its means goldman needs a conference call to tel investors not to buy bitcoin.
frjfehq in CryptoCurrency on 23 May 20 (1pts):
proof of funds is the scummiest bullshit ever created. allows institutions to literally steal money from legitimate users who cant provide a proof. its easy for freshly earned money now that we know...
frjbtml in CryptoCurrency on 23 May 20 (1pts):
it doesnt really matter how much the fed prints, because it wont leave the fed without someone taking the loans, and nobody wants a loan right now. theses funds mainly exist in order to prevent the...
frgj543 in politics on 22 May 20 (1pts):
why? its not like he has issues routing a billion dollars of public funds over to Ukraine.
frggmty in CryptoCurrency on 22 May 20 (1pts):
''in a nutshell'' dont hang out in bitcoin or btc, bitcoin has gestapo mods and btc is salt all day long.
frfp692 in WhitePeopleTwitter on 22 May 20 (1pts):
just go gamble 100x till you make it, ez.
frfoe8c in LifeProTips on 22 May 20 (1pts):
Discord my friend, Discord.
free9l1 in CryptoCurrency on 22 May 20 (1pts):
fredual in CryptoCurrency on 22 May 20 (1pts):
dw bout it, everyone pays to learn in this space. some later than others. better take your loses early on rather than get your illusion of success shattered down the road.
frdpvm8 in CryptoCurrency on 21 May 20 (1pts):
all you had to do is claim you hex, for free. if you dont pay for something, how are you getting scammed? you have no clue who gave him that eth, for what purpose, and if they're okay with him...
frdo9tl in CryptoCurrency on 21 May 20 (1pts):
lets be honest, sending them to an exchange that has ''Fren with justin sun'' written all over it was not exactly his most genius moment.
frde4ag in CryptoCurrency on 21 May 20 (1pts):
folding is great but it honestly pisses me off at the same time. there is so much spare computing power owned by american companies and almost all of it is never put to use for folding, it should be...
frddkuy in CryptoCurrency on 21 May 20 (1pts):
''investing'' in crypto is honestly the wrong way to think about it. gambling is a much better term. at best you're all in on btc and you're hedging against fiat inflation, at worst you buy any...
frdcffn in CryptoCurrency on 21 May 20 (1pts):
that explains why you know nothing about it.
frdaz60 in CryptoCurrency on 21 May 20 (1pts):
doubtful. negative interest rates in a deflationary environment wont be a big deal. yall really seem to misunderstand how good the USD is at fucking you over. keep believing hyperinflation is gonna...
frdantd in CryptoCurrency on 21 May 20 (1pts):
you havent seen nothing yet my man. 2017 had fees up to 100$. its gonna happen again.
frcveyn in CryptoCurrency on 21 May 20 (1pts):
considering he thinks bitmex sells trader's fund on spot after they place a trade, its fair to say this guy doesnt know anything about anything.
frcn75e in CryptoCurrency on 21 May 20 (1pts):
this is the dumbest article ever made on crypto.
frcmmkz in CryptoCurrency on 21 May 20 (1pts):
you're an idiot.
frcgfqm in CryptoCurrency on 21 May 20 (1pts):
while i agree that bitcoin sucks as it is and needs a block size increase (4mb would be perfect for now and wouldnt change a damn thing about decentralization) bsv is garbage and bch too.
frcg7pc in CryptoCurrency on 21 May 20 (1pts):
those 3 pools are also made of thousands of individuals. its not the pools' hashrate. if they start messing with the network, that hashrate will leave fast as fuck.
frc3yb5 in CryptoCurrency on 21 May 20 (1pts):
yet only 5mil in liquidity. useless network.
frbyhp0 in CryptoCurrency on 21 May 20 (1pts):
btc blocks should be 4mb-8mb right now to keep in line with technological advancement since the 1mb block limit was implemented. prove me wrong. ill debate anyone. and before you ask, im a btc...
frbxj5j in CryptoCurrency on 21 May 20 (1pts):
opening the pandora's box for market manipulation is a bad thing for wallstreet. these's patterns are not exclusive to crypto, at all, and ''trapping'' and stop hunts has been done for decades. this...
fr8anz5 in CryptoCurrency on 20 May 20 (1pts):
honestly wouldnt be surprised. btc isnt going anywhere without scaling and ln is a cluster fuck for adoption.
fr64v2n in Bitcoin on 19 May 20 (1pts):
fr64mko in Bitcoin on 19 May 20 (1pts):
this is software or 3rd parties trapping people into having to use those fees.
fr649wf in CryptoCurrency on 19 May 20 (1pts):
that company is a fucking leech regardless how you look at it. trying to make itself relevant by attacking others. they arent doing anyone but themselves a favor. you can hate on XRP just as much as...
fr62m0n in Bitcoin on 19 May 20 (1pts):
this is absolute garbage propaganda to assume that nodes would drop out rather than upgrade. im so fucking tired of people pretending like buying a 400$ computer to run a node is a problem but...
fr61jya in Bitcoin on 19 May 20 (1pts):
supply is 18million, not 900/day. there's plenty to buy from. also if you are talking about paul tudor jones, he didnt buy a single bitcoin and said so himself that he would only be playing futures...
fr60yqv in Bitcoin on 19 May 20 (1pts):
store of value is NOT a use case, and bitcoin is NOT widely adopted.
fr5yqcw in Bitcoin on 19 May 20 (1pts):
" not really looking for financial advice " maybe you should.
Ergo use case: Local Exchange Trading System (LETS)
The need to reform the global financial system has been clear since the last crisis in 2008. Now, COVID-19 has forced our hands. We cannot delay, and the best way to start is from the grassroots. As lockdowns across the world effectively shut down whole sectors and a large part of the economy, we are entering a new era at breakneck pace. Central banks are taking unprecedented action in the form of money printing but, just like last time around, they will almost certainly fail at the ‘last mile’ (intentionally or otherwise): while their efforts will benefit the financial sector and the wealthy, the funds will not reach those small businesses and individuals who need them the most.
Crossing the last mile
Technology like the Ergo platform can address this problem efficiently, building bridges into and within our local economies without the need for commercial or central banks. A key principle of Ergo, and one stated in the white paper, is that it is for regular people. The developers have spent considerable time building technology that can be applied to real-world use cases. (This is the idea behind ‘Smart contracts for the people’, for example.)
In the present circumstances, a Local Exchange Trading System (LETS) would be a strong use case for Ergo. A LETS is a mutual credit association in which individual members are allowed to borrow from a common pot of money. All the loans are written into a ledger. Naturally, a blockchain system allows for strict and more granular rules around the size of loans and their use, as well as user privacy. For example, let’s assume Alice has a zero balance. She wants to buy a litre of milk from Bob, and borrows the agreed price of 2 euros from the common pot. Alice’s account now registers -2 euros and Bob’s +2 euros. Bob can spend his balance with other participants of the LETS, and the creation of credit allows for economic activity and velocity of money even where people have, temporarily, no cash. Of course, limits on borrowing can be imposed – and even on positive ones, to prevent hoarding within the LETS. Such a system can be built trustlessly on Ergo.
Systems like this have historically become popular during times of crisis. The first system of this kind was established by Michael Linton in a Canadian town stuck in depression back in 1981. LETS were also popular during the 1998-2002 Argentine Great Depression. Most LETS groups consist of 50 to 250 members, with paper-based credit notes and ledgers maintained by a committee. However, it is unsurprising that paper-based LETS have suffered from problems such as counterfeit notes, dishonest activity by administrators, and so on (much like centralised crypto exchanges). A blockchain-based LETS could be vastly superior to any previous system. Moreover, building lots of small credit systems on the same blockchain enables interoperability and novel financial products designed to strengthen the system as a whole. Hundreds of different LETS could exist, for individuals and small businesses, with different participation criteria, different credit limits, collateralisation requirements and other parameters. And yet they could still be connected by gateways allowing liquidity to move between different LETS, if required – while avoiding exposure to toxic debt. What use cases do you have for Ergo to address the broken financial system? Let us know.
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas  - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
MyBTC.ca is one of the best cryptocurrency exchanges in Canada. Pros: Instant Funding options available. Quick KYC and excellent customer support. Cons: No selling option available. Only Bitcoin is available for buying. #5 Kraken. Kraken is a popular, well-established international crypto exchange, based out of San Francisco. It enables its On the other hand, Bitcoin exchanges such as Bitbuy, the most popular Canadian crypto exchange, let you fund your account via Bank Wire, Interac eTransfer, or Flexpin. As a Canadian trader, the best thing about using a local exchange like Bitbuy is the ability to pay in your native currency, i.e. the Canadian Dollar (CAD). Home » 10 Best Cryptocurrency Exchange Platforms. 10 Best Cryptocurrency Exchange Platforms. This list contains the best cryptocurrency exchange platforms on mobile apps for the entry level or more experiences cryptocurrency investor. This list is not a ranking in any particular order, rather a review of some of the best crypto exchange platforms on mobile. Heading into 2020, buying Bitcoin and cryptocurrency in Canada can be a difficult process. Yes, there are a lot of options, but there are also a lot of factors to consider when choosing which platform is right for you. In this article, we break down what details to consider, and rate our top Canadian cryptocurrency exchanges available specifically to Canadians. Following in the footsteps of the United States and Singapore, in August 2017, Canada also announced it will regulate those cryptocurrencies in Initial Coin Offerings (ICOs), which may be considered securities or derivatives.. In an official notice the staff of the Canadian Securities Administrators (CSA) clarified that with regards to the increase in the number of cryptocurrency offerings
Buy Bitcoin in Canada: How to Buy Cryptocurrency with ...
In this video we are looking at the popular cryptocurrency exchange coinspot. We discuss the features of the exchange, such as fees, KYC and others. Top 5 Best Cryptocurrency Wallets - Duration: 12:28. Ameer Rosic 1,149,877 views. ... Top 3 Crypto-Exchange Platforms To Use In Canada - Duration: 13:30. Henry Zhai 2,593 views. Best Bitcoin Wallet? This guide is about one of the safest hardware crypto wallet currently on the market that is not a Ledger wallet or Trezor wallet. BC Va... If you haven't bought into cryptocurrency it is time to "get off zero" and buy some. Check out the first video in this series to see the best apps for Canadians to use to buy Bitcoin and Ether ... My preferred exchange for altcoins is BINANCE. There are many exchanges that get hacked and do not have high trading volume, so please do your own research before transferring your money to the ...