IS THE PEOPLES CURRENCY REVOLUTION AT HAND? WILL EARLY ADOPTERS REAP UNTOLD RICHES? OR WILL FRAUD - AND THE POWERS THAT BE - CRASH CRYPTOCURRENCIES TO ZERO?

YOU ARE ONE WHO INVESTIGATES

YOU ARE ONE WHO INVESTIGATES, RIGHT?

THE RETURN OF BARFSTEW - 2017 STYLE

FALL 2017 - CHINA BANS BITCOIN EXCHANGES AND ICO'S AND BARFSTEW RETURNS! I STRONGLY ADVISE NEWCOMERS TO THIS PAGE TO EXPLORE THE YEARS OF POSTS DESIGNED TO ENLIGHTEN AND ENTERTAIN - OVER 1000 POSTS...YEARS WORTH OF CONTENT.

BARFSTEW 2017 IS A BLANK CANVAS AS BITCOIN APPROACHES IT'S SECOND FORK IN 3 MONTHS AND THE POWERS THAT BE SEEM TO BE SCRAMBLING IN THE TRUMP ERA - WITH DISASTERS SEEMINGLY AROUND EVERY CORNER.

EASY AMAZON PURCHASES - 1G TO 10G Gold, 1OZ Silver - Find Out Prices With A Click

CHECK OUT THE COOL BOOKS TOO

Thursday, October 30, 2014

Dogecoin And Onward - Where Is Satoshibet?

As you were left a few days ago - I had just bought some Dogecoin (folks laugh upon hearing the name BTW) and was diversifying into other crypto-currencies. I proceeded to do so by buying ScotCoin, BlackCoin, KarmaCoin and a couple of others - via trading my Bitcoin that I transferred from Coinbase to Coins-e; ending up with over 130K Karma coins for pennies.

I've since discovered a few things since my last post only a couple days ago - first, the number of trading exchanges is numerous and Coins-e only traded a few currencies in comparison to others - and traded at a much lower volume than other places. It's a lot an information game at this point I believe - as at one exchange I saw Dogecoin being bought and sold for a `rate' of 63 and bought and sold on Coins-e for 72. Obviously, one could make money simply having accounts in both websites and trading back and forth. Quite curious.

Even more curious was what occurred today AFTER a ruling that could certainly be seen as a blow to the diversity of the handling of Bitcoin and other currencies. Anyway, before the ruling details..... I went to  Satoshibet - a place I've had (still have probably) banners for as a place for secure private internet gambling. Indeed over 400 were there as part of my links. .... Anyway.... I've pulled some of their banners simply on the statement that SLAPS you in the face IF you live in the USA when you go to the website as of TODAY - as you can see if you are from the USA - Satoshibet now restricts your usage of the website (good luck at getting your bitcoins) - certainly a buyer beware situation. As is virtual currencies evidently.

Now - onto the ruling explained here by:

FinCEN Stifles Bitcoin Adoption; Reinforces Legacy Banking Systems

Posted by B.Holmes on 29 October 2014 | Comments
FinCEN Quote 1

- FinCEN.gov
==========================================================================
The new guidances (FIN201-R011 and R2012-FIN-2014) advise that under US law, virtual currency exchanges and payment processors may be considered as money transmitters under the Bank Secrecy Act (BSA).
Applying for a money transmitter license (MTL) is an expensive and lengthy process. According toGrimes Law PLLC, to conduct business on a national level, the application fees alone will come to just under $7 million USD, creating a high barrier to entry and limited competition. Businesses such as Bitpay, which has applied for an MTL in Georgia, will possibly suffer extraneous fees. This in turn is creating great concern and cause for debate in the Bitcoin community.
The article offers a range of opinions about the ruling making the hurdle to do exchanges with transferring Bitcoin and others coins - it seems the buy-in price to do so is at least 7 million as you see above. Something that would probably mean many of the smaller exchanges and such will be out of business if this is enforced IMO. That said, as one Reddit user does in the article above - AFTER the shake-out, which happens in any business model - the strong IMO will indeed survive and this will be a blip perhaps. That said, the many who will lose value when various exchanges can't put up millions will certainly create more badwill and avoidance. 
The article begins by calling the ruling that applies an outlier to the world view on things like this.
===========================================
You will notice the continuing change in The BS's format and look I hope. Those looking for THE BARFSTEW - The direct link is in the post below.
==========================================
Next Up
switching exchanges
===========================

No comments:

Post a Comment

Comments are welcome and ALWAYS moderated (to remove spam links).

THIS BLOG TRANSITIONED FROM THE `2013 BANNED' OUTRAGEOUS AND SEXY `BARFSTEW' - TO A BITCOIN RELATED BLOG IN OCT/NOV 2014. THE ARCHIVE IS WHY MOST PEOPLE ARRIVE - AND BITCOIN IS WHY THEY STAY. UPDATE - ONCE AGAIN....OCT 2017, A NEW TRANSITION.
THIS BLOG WAS VERY PROUDLY BANNED FROM THE INTERNET FOR 115 DAYS IN 2013-2014 - RETURNED AFTER 9 REQUESTS FOR REVIEW - NOW YOU KNOW - (UPDATE) IN MAY 2015 THIS BLOG WAS AGAIN WARNED.... AND CONSEQUENTLY DROPPED GOOGLE ADSENSE.... READ AND ENJOY THE BARFSTEW WHILE IT IS STILL FRESH IN THE POT AND NOT ON THE INTERNET ARCHIVE..... BECAUSE BARFSTEW BITCOIN IS A DANGEROUS BREW.

2000+ PAGE VIEWS A DAY - 85% MALE - MORE INFO AND SIZES TOO VIA BANNER CLICK

2000+ PAGE VIEWS A DAY - 85% MALE - MORE INFO AND SIZES TOO VIA BANNER CLICK
2 BLOGS INCLUDED - BARFSTEW AND BITCOINS IN TRADE

Visitor Stats

Popular Posts Last 30 Days