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CEPS Bitcoin Mechanics Primer

subotai

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Joined
Mar 25, 2014
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11,672
https://www.theverge.com/2017/7/29/...xchange-takedown-mt-gox-theft-law-enforcement

BTC-e website taken down as owner is being investigated for money laundering

official BTC-e response to users:



now I am in NO way, shape, or form saying that ALL OF BITCOIN is related to MONEY LAUNDERING and CRIMINAL enterprises...

..just like 95% of it...

quote of the article IMO

“Exchanges will go one of two ways,” Sirer says. “Either they will clean their act, by first shopping for the most lenient jurisdictions and complying with relevant KYC/AML laws, or they'll go ‘fully underground,’ and operate with no rules, behind Tor and other anonymous communication technologies. The most colorful drama ahead will involve exchanges, such as Bitfinex, that operate in the gray zone, where they seem to neither comply with relevant laws nor go fully underground.”
this is an important time for BTC, a fork in the road so to speak. It is clearly impossible to have it be ignored by governments at this point, there is no more flying under the radar and getting away with avoiding financial regulations.

how Ive felt about Bitcoin for the past 2 years

 
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musique

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Sep 4, 2017
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Canada
What an excellent and easy to follow guide! Very thorough and covers most aspects. Awesome links as well ...Thanks tonnes for sharing =D
 

Cheshire_Kat

Sr. Moderator: Music
Staff member
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Jul 8, 2017
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Edge City
I had absolutely no idea this thread existed or I would simply referred to this one.
An awful lot of good advice and links! :)
 

thujone

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Aug 31, 2006
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::1
thanks for the positive feedback, and for stickying the thread whoever that was :) gotta protect ya neck dealing with Bitcoin, lots of scams and schemes in the cryptocurrency badlands
 

CFC

Tech Support
Joined
Mar 9, 2013
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The Shire
Oh it was definitely worth a sticky :) Thanks for taking the time to write it all up and provide links.
 

Chris42393

Bluelighter
Joined
Mar 3, 2016
Messages
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I have a question, not sure if i missed it, but.. say i want to buy something for 100$ and i purchase 100$ of bit coin, will i have to worry about the market fluctuating, going up or down? Can i just but 100$ without it moving?
 

SharedHalucination

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Jan 14, 2018
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firesale on XMR. Dont miss out on the profits:) Its all about the tech. Grabbing couple more LTC on this dip also.
 

Xorkoth

Administrator: PD, TR, P&S
Staff member
Joined
Feb 8, 2006
Messages
47,233
Location
In the mountains
I'm currently in a mode where I'm not thinking about crypto at all. It's been too disappointing, and I'm not throwing more than the $3500 into it that I've already put in. I'm thinking I'll look again in a year... I do have a good friend who is really into it still

I have a question, not sure if i missed it, but.. say i want to buy something for 100$ and i purchase 100$ of bit coin, will i have to worry about the market fluctuating, going up or down? Can i just but 100$ without it moving?
It'll move with the market. But if you're buying it and immediately using it to buy something, the fluctuation will be very tiny. If you're holding onto it for a while, it might change substantially. I'm hoping in 1-2 years, things will be back on track.
 

SharedHalucination

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3500 is more than I have invested so far. Started @ $1500 and slowly buying coins that I see a future for on dips. I also use crypto as a currency. After this summer the market will take off again, I think.
 

jpgrdnr

Bluelighter
Joined
Aug 21, 2003
Messages
2,402
Location
in rain country
So can I outsource a project to a network and pay for it? Say I have some data encrypted or want to render stuff out is it feasible vs. just renting some rack gear? Or am I completely off base to what crypto-currency is?---NOPE!

Ah I see, you get paid to rent out clock cycles for being in the transaction network. That's pretty crazy.
 
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