Experiences with AML/KYC why the people need Cryptos to succeed.

[twig 94]

On 9/16/2019 at 4:19 PM, Conno said:

Cool....as and when.

Here's another that has just been uploaded which I'm sure will push your buttons too. Self made multi millionaire Wall Street Trader who started out in the UK as an orphan in foster care with $150 in his pocket and the clothes he was standing up in.  His views on BTC and how this is going to change everything.  Once again when someone as smart as this guys talks it's advisable to listen........therefore take it as water off a ducks back when others bad mouth crypto. 

I get what he means when he says most have no frame of reference to compare this technology against. People in general dismiss it because humankind has never had such an invention before..........EVER.  Hey people can take it on-board or dismiss it right, it's a free world LOL. Enjoy.

 

 

 

I have an associate in BKK who subscribed to Tiwari's expensive newsletter on cryptocurrencies. 

I think it was Palm Beach Confidential, maybe?

He lost a lot of money following that advice during last s-coin bull run on things like OMG, for example.

 

In that particular example, in the end, the Thai banks went with the Wall Street product, rather than homegrown OMG, which was backed by some big names in  the Land of Something:

https://www.crowdfundinsider.com/2019/05/147194-project-inthanon-bank-of-thailand-pushes-forward-with-central-bank-digital-currency/

 

So, I think the cryptosphere is too unpredictable even for the smartest to predict, and a lot of what they say is just self-serving hype to sell "picks and shovels" to the herds...
Be careful!

[Conno 33]

Twig -  Valid point. I'd actually never heard of this guy before posting the linked video, but at first watch he seemed to talk a lot of sense. I did a bit of research afterwards and yea a few red-flags went up for me too. I also tried to locate his 5 coins to $5m video that with hindsight was getting "pushed" quite a bit in the original. It turns out that you had to sign up to watch that video and even after gaining access it didn't even name the 5 coins, all very "click-baity" [if there's such a word].

 

Didn't sign up by the way as my red-flag needle was already moving into the as you say "be careful" zone at that point. I actually don't own any Alts as I don't consider myself experienced enough to separate the wheat from the chaff at the mo.  A few seem to be getting good press but but until I'm sure then just going to stay with BTC.

 

[twig 94]

OMG was a classic example of "Crypto Experts" hype, which no one should forget.

Was going to tokenize Thailand, because based in BKK and some big cheese or two from some THB bank or banks (K-bank if I remember right) was behind it, AND built on the mighty Ethereum!!! So, what could possibly go wrong?

This is how OMG stands now:

https://www.coinigy.com/s/i/5d822e5d6dca8/

 

And that's the weekly interval chart! Blew through the long and short interval Fibonacci like it wasn't even there.

Means to me that it had no fundamentals of any kind - just straight pump and dump on the ignorant of Thailand. All kinds of "crypto experts" like Tiwari were hyping it though, and probably will again.

Hope new people in the next wave of capital and s***coins don't fall for such things again...

 

[Conno 33]

Must listen podcast. Make a coffee and sit back for 40 mins. 

 

I'm familiar with the Stock to Flow ratio that Plan B shares in this interview as I'm a long-term holder of Gold and Silver bullion. If you are not familiar with the term then stick with the technical explanation, it's not that difficult. Then listen to what this will [potentially] mean for BTC going forward. BTC will soon have a Stock to Flow ratio that has never been seen before in human history.  Looks exciting to me.

 

Then I feel it would be a good idea to watch the TMI YT video from a few months ago where he asks how many bitcoin should you own. The math clearly states that if you believe in the future of this technology then you owe it to yourself to attempt to hold as much as you can safely afford. If it goes where I think it is heading then this is an opportunity to join the 1%. 

 

TIP260: BITCOIN MATH & VALUE – W/ PLAN B 

https://www.theinvestorspodcast.com/episodes/bitcoin-math-and-value-plan-b/

 

How Many Bitcoin Should You Own?

 

 

[sillyfool 686]

sssssssssssssssssssssee you.

 

tmi is quite good for info..any thoughts on xrp. they seem to have done a lot of work over the past few years. 

[Conno 33]

Never bought any personally but they do seem to be one of the better Alts with the brightest potential, if Alts are your thing of course.

According to TMI they seem to be very active behind the scenes with big institutions, banks etc. Love or loath that fact. 

 

Yea TMI is up there with the best of the crypto commentators.....his style really makes me smile LOL.

 

THE MODERN INVESTOR DRINKING GAME Equip: 1 bottle o' booze [(please be careful)].             1 shot glass per person.             1 beer per person. Take 1 shot   - "Hello Everybody" Take A sip     - "Welcome Back" Take A sip     - "To Start Things Off" Take A sip     - "Let's Move On"  Take A sip     - "Next Up" Take A sip     - "Blah Blah Blah" Take A sip     - "So and so" Take A sip     - "Yadda Yadda Yadda" Take A sip     - "Keeping in Mind" Take A sip     - "W/out Further Ado" Take 3 shots - "W/out Further Ado Doo" Take A sip     - "What have you" Take 1 shot   - "Whatever the Case Might Be" Take 1 shot   - "And I Do Quote" Take A sip     - "I Would  Be Shocked If..." Take 1 shot   - "I Was  Listening to a Podcast" Take 1 shot   - "I Have A Friend" (who is or isn't listening "probably"). Take 1 shot   - "My Gosh"  Take 1 shot   - "My Goodness" Take 1 shot   - "I'm Fairly Certain" Take 1 shot   - "I'm Not Even Joking" Take 1 shot   - "It Drives Me Insane" Take 1 shot   - "That's Kind of Cool" Take 1 shot   - "That's Really Weird" (or variations thereof). Take 1 shot   - "This is Awesome" Take 1 shot   - "For Those Who Haven't Been Paying Attention" Take 1 shot   - "For Those Who Are New to the Space" Take 1 shot   - "For Those Not Looking at The Screen" Take 1 shot.  - "You Kind Of Get What I'm Saying" Take 1 shot   - "You Know How I Feel About This" Take 1 shot. -  "I Mean, To Be Fair"  Take 1 shot   - "If You Can See Where This is Going" Take 1 shot   - "If You Kind of Want to Say It That Way" Take 3 shots - "The Geminis" Take 2 shots - "Everyone's Losing Thier Minds" Take 2 shots -  A "Stutter-Repeat" of a word. Take 2 shots -  Speaks too fast ; replaces words w/ curse words. Take A Sip     - "To Kind of Finish Things Off" Take A Sip     -  "A Special Thanks To My Patreons" Take A Sip     - "As Always" Take 1 shot   - "Ssssee You"

 

[sillyfool 686]

8 minutes ago, Conno said:

Never bought any personally but they do seem to be one of the better Alts with the brightest potential, if Alts are your thing of course.

According to TMI they seem to be very active behind the scenes with big institutions, banks etc. Love or loath that fact. 

 

Yea TMI is up there with the best of the crypto commentators.....his style really makes me smile LOL.

 

THE MODERN INVESTOR DRINKING GAME Equip: 1 bottle o' booze [(please be careful)].             1 shot glass per person.             1 beer per person. Take 1 shot   - "Hello Everybody" Take A sip     - "Welcome Back" Take A sip     - "To Start Things Off" Take A sip     - "Let's Move On"  Take A sip     - "Next Up" Take A sip     - "Blah Blah Blah" Take A sip     - "So and so" Take A sip     - "Yadda Yadda Yadda" Take A sip     - "Keeping in Mind" Take A sip     - "W/out Further Ado" Take 3 shots - "W/out Further Ado Doo" Take A sip     - "What have you" Take 1 shot   - "Whatever the Case Might Be" Take 1 shot   - "And I Do Quote" Take A sip     - "I Would  Be Shocked If..." Take 1 shot   - "I Was  Listening to a Podcast" Take 1 shot   - "I Have A Friend" (who is or isn't listening "probably"). Take 1 shot   - "My Gosh"  Take 1 shot   - "My Goodness" Take 1 shot   - "I'm Fairly Certain" Take 1 shot   - "I'm Not Even Joking" Take 1 shot   - "It Drives Me Insane" Take 1 shot   - "That's Kind of Cool" Take 1 shot   - "That's Really Weird" (or variations thereof). Take 1 shot   - "This is Awesome" Take 1 shot   - "For Those Who Haven't Been Paying Attention" Take 1 shot   - "For Those Who Are New to the Space" Take 1 shot   - "For Those Not Looking at The Screen" Take 1 shot.  - "You Kind Of Get What I'm Saying" Take 1 shot   - "You Know How I Feel About This" Take 1 shot. -  "I Mean, To Be Fair"  Take 1 shot   - "If You Can See Where This is Going" Take 1 shot   - "If You Kind of Want to Say It That Way" Take 3 shots - "The Geminis" Take 2 shots - "Everyone's Losing Thier Minds" Take 2 shots -  A "Stutter-Repeat" of a word. Take 2 shots -  Speaks too fast ; replaces words w/ curse words. Take A Sip     - "To Kind of Finish Things Off" Take A Sip     -  "A Special Thanks To My Patreons" Take A Sip     - "As Always" Take 1 shot   - "Ssssee You"

 

i consume most of his content. i've seen that list posted in the comment section of his vids. hahah its awesome. wondering how on earth anyone would survive that drinking game considering most of his videos are 40 plus minutes. id be bombed after 5 minutes or so.

 

i have both btc and xrp. as much as i loath bankers and big institutions...they generally win at this game. i have no love or attachment to any of the crypto coins other than making money. 

[Tayaout 2,759]

9 hours ago, sillyfool said:

sssssssssssssssssssssee you.

 

tmi is quite good for info..any thoughts on xrp. they seem to have done a lot of work over the past few years. 

Not really a fan of XRP. I think it's a centralized (I'm a decentralized proponent) solution this is why it's so fast. When they started the project they gave a ridiculous amount to everyone can't remember how much but I sold them in 2017.

 

A couple months ago, I spent a couple days researching every alts. I then heavily invested in LINK and looks like it was a good choice. I also bought a sufficient amount of REN to run a darknode when the mainet will launch in a couple weeks.

 

These 2 options allow to stake your investment but not the same way as traditional staking coin. With XRP you only hope for a rise in price. With LINK and REN you can build passive income. I think Ethereum is a solid investment for the same reason.

 

“The Fourth Industrial Revolution: The Rise Of The Autonomous Economy” by The Crypto Oracle

https://link.medium.com/092ckRncc1

 

“Chainlink — The Missing Piece To The God Protocol” by The Crypto Oracle https://link.medium.com/z36P8whcc1

 

“Chainlink: A Fundamental Analysis” by Kyle W. Santiago https://link.medium.com/KEb8zKEcc1

 

Bonus:

https://blockonomi.com/ren-protocol-guide/

Edited October 30, 2019 by Tayaout

[sillyfool 686]

1 hour ago, Tayaout said:

Not really a fan of XRP. I think it's a centralized (I'm a decentralized proponent) solution this is why it's so fast. When they started the project they gave a ridiculous amount to everyone can't remember how much but I sold them in 2017.

 

A couple months ago, I spent a couple days researching every alts. I then heavily invested in LINK and looks like it was a good choice. I also bought a sufficient amount of REN to run a darknode when the mainet will launch in a couple weeks.

 

These 2 options allow to stake your investment but not the same way as traditional staking coin. With XRP you only hope for a rise in price. With LINK and REN you can build passive income. I think Ethereum is a solid investment for the same reason.

 

“The Fourth Industrial Revolution: The Rise Of The Autonomous Economy” by The Crypto Oracle

https://link.medium.com/092ckRncc1

 

“Chainlink — The Missing Piece To The God Protocol” by The Crypto Oracle https://link.medium.com/z36P8whcc1

 

“Chainlink: A Fundamental Analysis” by Kyle W. Santiago https://link.medium.com/KEb8zKEcc1

 

Bonus:

https://blockonomi.com/ren-protocol-guide/

i am just looking to make money from alts. i got into xrp at around 35 cents cad. just waiting for a small run to cash out and get my bitcoin level up. thanks for the informative links. 

 

what are your thoughts on 0x ? 

 

one other coin i follow but have yet to buy is tron. my only reasoning behind wanting to get into it is that it is involved with pornhub. porn built the internet we know of today so i am thinking there may be something positive come from that. although i don't really trust justin so much which keeps me on the sideline. 

 

Edited October 30, 2019 by sillyfool
sp

[Tayaout 2,759]

1 minute ago, sillyfool said:

i am just looking to make money from alts. i got into xrp at around 35 cents cad. just waiting for a small run to cash out and get my bitcoin level up. thanks for the informative links. 

 

you mean chainlink ya ? 

 

what are your thoughts on 0x ? 

 

one other coin i follow but have yet to buy is tron. my only reasoning behind wanting to get into it is that it is involved with pornhub. porn built the internet we know of today so i am thinking there may be something positive come from that. although i don't really trust justin so much which keeps me on the sideline. 

 

Yes chainlink. Ox seems good too. Tron looks shady to me. 

[sillyfool 686]

1 minute ago, Tayaout said:

Yes chainlink. Ox seems good too. Tron looks shady to me. 

shady as a porn site. porn did build the internet so that has me intrigued.....tron i mean not endless hours watching porn. 

[Tayaout 2,759]

2 minutes ago, sillyfool said:

shady as a porn site. porn did build the internet so that has me intrigued.....tron i mean not endless hours watching porn. 

No shady in the sense that they print infinite tether USDT to manipulate bitcoin price and liquidate the fools that use leverage. 

[sillyfool 686]

3 hours ago, Tayaout said:

No shady in the sense that they print infinite tether USDT to manipulate bitcoin price and liquidate the fools that use leverage. 

i need you to go ahead and post all your great knowledge on here for me to consume. thanks lol.

[Tayaout 2,759]

18 hours ago, sillyfool said:

i need you to go ahead and post all your great knowledge on here for me to consume. thanks lol.

Nobody take my seriously since 2012 anyway. But I can drop breadcrumbs occasionally: https://www.meetup.com/en-AU/GDG-Cloud-Belgium/events/265949877/

[Conno 33]

Word of warning.  I have just had an email back from Bitkub in relation to my Lvl 3 verification request from over a week ago, which in my opinion is a step too far from an AML/KYC standpoint. Please be aware before you apply for Lvl-3 approval that you will be requested to attend the Bitkub offices in Bangkok for a FORMAL INTERVIEW!!!! You are also given the option of doing a video conference with them if you live at the other end of the country. AGAIN I will repeat I have absolutely nothing to hide in relation to my financial affairs other than a desire to retain my privacy. My concern therefore is WHAT WILL THE QUESTIONS BE THAT YOU ARE PRESENTED WITH IN THIS INTERVIEW? There was absolutely no indication that a formal interview would be part of the Lvl-3 verification process beforehand.

 

Please note. Lvl-2 deposit/withdraw limits are already a more than adequate 5 million baht per day so the reader may ask why apply for lvl-3? The reasons were, firstly because they invited me to do so and secondly, I thought why not as they already have my 3 month bank statement information in relation to Lvl-2 clearance.

 

In conclusion. I can live without a 10 million baht per day limit for now....unless BTC hits $1m per coin in the next few years of course . The main point I am trying to make here is that the fact that a formal interview is a requirement for Lvl-3 verification should be made perfectly clear to you when they invite you to apply. 

 

Just a heads up guys.

 

Edited November 1, 2019 by Conno