Have you ever seen people selling their cryptocurrencies to get fiat outside internet? - Crypto World - CryptoTalk.Org Jump to content
Brushless4500KV

Have you ever seen people selling their cryptocurrencies to get fiat outside internet?

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I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

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Yes I saw, if you can find a site online which provides this kind of service, you can sell them to someone trusted or sell them by a mediator, actually I tried it once by a mediator and I succeeded 

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2 hours ago, Francoforte said:

While it is possible to consider this type of exchange in the analog world, it would be scarcely diffused and not necessarily more reliable. Natural persons are also the same subjects who commit fraud using the internet.

On the other hand, such practice contradicts almost all the principles of the crypto world: the total decentralization of transactions and their anonymity. In addition to the absence of cross-border limitations.

Yes, you are right about the nature of cryptocurrency but I was only referring to some emergency situation. Sometimes transparency is better than anonymity. Once I wanted to buy an item from someone I didn't know. I asked him about which method of payment he prefers and he told me that he only accepts bitcoin and gave me a wallet address. Since I didn't know him I thought for a moment what will happen if he receives the money but doesn't ship the item to my address? I couldn't track him or find his identity. I understand that most people prefer to hide their identities when using cryptocurrencies but we should accept that anonymity sometimes is a benefit for scammers. If I had fiat currency, I would definitely pay by fiat but since I only had bitcoin at that time, I couldn't risk losing my money.

Apart from scamming, this method is good for offline trading.

We should be flexible when using cryptocurrency.

Edited by Brushless4500KV
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Some time a go 2 people were doing that, the seller didn't think btc was going to succeed and decided to sell btc for some cigars. 


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well yea thats essentially what we do in crypto..but for me i get someone from local bitcoin and we agree on th selling price and then i go and take the cash back home.

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How can? can never be. even though the item purchased is not on the internet, to access the crypto wallet, it needs internet. then crypto transactions must indeed require the internet.

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I've never seen someone selling cryptocurrency to a person.Yes maybe it is quite safe because you are making transactions right in front of you but there's still an issue about trust and the person credibility.There are really instances that we will become a victim though it's just in front of us.

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Well, no one can exchanged cryptocurrency into fiat currency if they are didn't used internet, this is a kind of digital coin that are not tangible and it runs through network and internet so you can't get some fiat money if you are no internet in selling cryto.

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Yes, I watched it. You can enter a truly trusted site. there you can see and sell your coins. but remember, be careful when giving something. must be more careful.

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Yes, this person-to-person exchange method is an old and well-known method and is much safer than the known methods over the Internet, especially in the presence of many SCAM sites. This method you mentioned is very good and over time and when there is trust between you and this person you can make a transfer from your account to his account directly and send you the money is. I personally use this method. Here in my country, someone I trust, I transfer to his account and he transfers Fiat via remittances to my home.

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7 hours ago, Brushless4500KV said:

I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

I have not seen that kind of transaction yet but it came to my mind too. And yes, I think it is also possible for people to sell their crypto coin/local currency to local currency/crypto coin. 

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For people who live in the country in which crypto is prohibited, the internet will be the only way to sell the crypto. But if they live in the country in which crypto is allowed to be a payment method, they can use crypto to pay anything they want besides using the internet. We can trust that person because of the reputations that he got from the previous transaction with other people.
If you can find local people who want to make a transaction with you, then you can go to their places so that you can make a deal with him. But if you cannot find that person, then the internet will be the way for you to make a transaction.
I don't want to give my ledger along with my coin because it will depend on what transaction that I want to make with him/her. And if the transaction is for buying a product, then I don't need to have a ledger, and I will only use a wallet from my mobile phone to pay that product.

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11 hours ago, Migo said:

Yes I saw, if you can find a site online which provides this kind of service, you can sell them to someone trusted or sell them by a mediator, actually I tried it once by a mediator and I succeeded 

I admit the possibility. But it's not always safe. For such a transaction, you need to know and trust the buyer. And probably the terms and price of the exchange will be different from the cryptoexchanges.

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Have you ever seen people selling their cryptocurrencies to get fiat outside internet? Yes of course I saw that happened between friends.


 

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19 hours ago, Brushless4500KV said:

I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

There are people in my local area who are selling coins and buying from direct cash, but still you have to go through the internet to make transactions.

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Never but there are actually crypto mats all over the world so what is it if not changing crypto for fiat offline? I think there will appear more and more such cases for the crypto is becoming more popular

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Yes I have seen people selling Btc outside internet network, but the first contact was on the internet, after and for reasons of confidence they set an appointment and reimbursement hand to hand after having preceded the transfer of the amount of Btc.

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That depends on the situation, what if the buyer is in Asian country and the seller was in Europe who will sell the ledger, do you think its practical? of course not!

I created this topic to talk about ways of selling crypto offline. Do you think it is possible to sell your cryptocurrency without selling your Ledger? How can you deliver your coins to the buyer without having access to internet? Cryptocurrency is not a physical item. It has to be stored somewhere. So, the only way is to sell it along with its storage device. It is like selling a media file (music or video) to someone. You need to have a USB device storage to carry your data.

If it was possible to transfer crypto coins between two Ledger devices, then both parties could meet each other and the seller would transfer his coins to the buyer's Ledger with something like a USB cable without any internet connection. If cold wallets like Ledger could act like a USB storage device, this method would work perfectly in very rare emergency situations like when we don't have access to either electricity or internet.

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20 hours ago, Brushless4500KV said:

I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

I know some persons doing a person to person transactions to save fees from converting the fiat to crypto and vice versa. But i think it is kind of dangerous to do because you are exposing your identity to someone you didn't know in real life.


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I do not understand them if there really is a cryptocurrency trading outside the internet, that sounds funny because crypto technology is part of the internet and they choose to sell it outside the internet.

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On 12/6/2019 at 1:21 AM, Brushless4500KV said:

I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

Indeed yes,

that selling crypto currencies whether online or personal has its own risk, so i my personal case i used online wallet to convert crypto in fiat then transfer it in my bank account and withdraw it in cold cash. since we are in a country that is not in any restriction to crypto unlike to other country that holding btc can end you up in jail.

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Yes internet is the only place one can exchange cryptocurrency especially Bitcoin because there's no paper Bitcoin for now so for now you can only make payment Using bitcoin and other digital currency through the online reason been that they have not printed paper bitcoin that can be like fiat currency. 

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On 12/6/2019 at 12:21 AM, Brushless4500KV said:

I start this topic with a question:

Is internet the only place to sell or convert cryptocurrency to fiat? I know internet is the simplest way for selling crypto but it is not safe. How can you trust the unknown person behind another computer in an unknown area that you want to send crypto to him/her?

I think we can sometimes buy our cryptocurrencies by visiting the buyer in person especially when the amount of coins we want to sell is high and we don't want to risk sending the money to a scammer.

You can buy a cold wallet like Ledger and store your cryptocurrency in it. Then you can make an appointment with the buyer and visit him/her in person. You give him/her your Ledger along with other necessary information about your wallet such as private key and recovery phrase. The buyer will pay you in cash for your cryptocurrency + Ledger.

When you sold your Ledger and your coins, you will buy a new Ledger and create a new wallet for yourself.

I think this method is not only good to avoid scammers but also useful when we have no access to any internet or electricity.

Nope, I think that's even troublesome. Cryptocurrency can make transactions in all parts of the world if there is internet. I also have never seen a user who transactions outside the internet.

 

For the risk of scam with such purchases can be overcome, the problem is the residence of the two people who want to make the transaction.

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Nope, I think that's even troublesome. Cryptocurrency can make transactions in all parts of the world if there is internet. I also have never seen a user who transactions outside the internet.

For the risk of scam with such purchases can be overcome, the problem is the residence of the two people who want to make the transaction.

I only refer to the rare cases that someone has no access to internet but he needs money and he have to sell his cryptocurrency in some way. I think we should be flexible in some situations and even buy or sell cryptocurrency with cash (paper money). Do you think there is a better way of selling your crypto in this situation? The problem of residence can be overcome if the parties agree upon a place of meeting to exchange their currencies. This method is based on meeting on person and the only problem is that how the seller can sell his cryptocurrencies offline. That's why I mentioned selling crypto along with Ledger and receive the equivalent of both the currency and the device.

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In addition, on Friday, May 3, we traditionally await another batch of very important statistics from the American labor market, including the unemployment rate and the number of new jobs created outside the agricultural sector (NFP), as well as revised data on business activity (PMI) in the US services sector.   GBP/USD: US PCE Hindered the Strengthening of the Pound   The preliminary statistics on business activity in the United Kingdom released on Tuesday, April 23, were mixed. The PMI in the manufacturing sector of the country crossed from above to below the growth/fall boundary, and with a forecast and previous value of 50.3 points, it actually fell to 48.7. In the UK services sector, on the other hand, there was growth in April – the indicator rose from 53.1 to 54.9 (market expectations 53.0). As a result, the Composite PMI reached 54.0 (52.8 a month earlier). However, all these figures did not attract much attention from investors.   On April 22, GBP/USD fell to 1.2300. The bulls on the pair took advantage of the dollar's overbought condition to return it to the lower boundary of the medium-term corridor of 1.2500-1.2800 in which it had been moving since the end of November last year. However, they did not have enough strength to consolidate within the corridor. The two-week maximum was recorded at 1.2540, after which, pushed by US PCE, the pair went down again and ended the five-day period at 1.2492.   According to specialists from United Overseas Bank, as long as the support at 1.2420 is not broken, there is still a possibility of the pound breaking through the 1.2530 mark. The next resistance, according to them, is at 1.2580. The median forecast of analysts regarding the behaviour of GBP/USD in the near future looks maximally uncertain: 20% voted for the movement of the pair to the south, the same amount – to the north, and the majority (60%) simply shrugged their shoulders. As for technical analysis, the trend indicators on D1 point south 65% and 35% look north. Among the oscillators, the picture is mixed: 25% recommend selling, 25% – buying, and 50% are in the neutral zone. In case of further decline of the pair, it will encounter support levels and zones at 1.2450, 1.2400-1.2420, 1.2300-1.2330, 1.2185-1.2210, 1.2110, 1.2035-1.2070, 1.1960, and 1.1840. In case of growth, the pair will encounter resistance at levels 1.2530-1.2540, 1.2575-1.2610, 1.2695-1.2710, 1.2755-1.2775, 1.2800-1.2820, 1.2885-1.2900.   No significant statistics on the state of the UK economy are planned for the week.   USD/JPY: Reached the Moon, Next Target – Mars?     We called the previous review "Higher and Higher". Now, it is worth asking at what altitude will this flight into space end? When will the Bank of Japan (BoJ) finally decide on a radical change in its monetary policy?   At the meeting on April 26, the members of the Japanese Central Bank unanimously decided to keep the key interest rate at the previous level of 0.0-0.1%. Moreover, the regulator removed from the statement the reference that it is currently buying JGB bonds for about 6 trillion yen per month. The statement after the meeting states that "the prospects for the development of the economy and prices in Japan are extremely uncertain," "if inflation rises, the Bank of Japan will likely change the degree of easing of monetary policy," however, "it is expected that the eased monetary policy will be maintained for some time."   The market predictably reacted to such decisions of the Japanese Central Bank with another Japanese candle on the chart of the USD/JPY pair. The maximum was recorded at 158.35, which corresponds to the peak values of 1990. There were no currency interventions to save the national currency, which many market participants feared. Recall that strategists from the Dutch Rabobank called the level of 155.00 critical for the start of such interventions by the Ministry of Finance of Japan. The same mark was called by 16 out of 21 economists surveyed by Reuters. The rest predicted such actions at levels of 156.00 (2 respondents), 157.00 (1), and 158.00 (2). USD/JPY has long exceeded the levels at which the intervention took place in October 2022 and where the market turned around about a year later. It now seems that 158.00 is not the limit. Perhaps it is worth raising the forecast bar to 160.00? Or immediately to 200.00?   USD/JPY ended the past week at 158.32. The forecast of analysts regarding the near future of the pair looks as follows: fear of currency interventions still prevails over 60% of them, while the remaining 40% are waiting for the continuation of the flight to Mars. Technical analysis tools clearly have no concerns about interventions. Therefore, all 100% of trend indicators and oscillators on D1 point north, although a third of the latter are in the overbought zone. The nearest support level is located in the area of 156.25, then 153.90-154.30, 153.10, 151.00, 149.70-150.00, 148.40, 147.30-147.60, 146.50. And it is practically impossible to determine resistance levels. We only note the reversal maximum of April 1990, 160.30, although this target is quite conditional.   No significant events regarding the state of the Japanese economy are expected in the coming week. Moreover, traders should keep in mind that Monday and Friday in Japan are holidays: April 29, the country celebrates the birthday of Hirohito (Emperor Showa), May 3 – Constitution Day.   CRYPTOCURRENCIES: Where Will Bitcoin Fall?   As expected, the fourth halving took place in the bitcoin network at block #840000 on April 20. The reward for finding a block was reduced from 6.25 BTC to 3.125 BTC. Recall that halving is a halving of the reward size for miners for adding a new block to the bitcoin blockchain. This event is embedded in the code of the first cryptocurrency and occurs every 210,000 blocks – until the moment when the mining of 21 million coins (presumably in 2040) ends the emission of cryptocurrency. It should be noted that the fourth halving will provide for the mining of approximately 95% of the entire bitcoin emission, about 99% of all coins will be mined by 2033-2036. Then, the emission will gradually move towards zero.   In the previous review, we promised to tell how the market would react to this important event. We promised – we report: the market reaction is close to zero. For several days after the halving, there was no growth in volatility. The price of bitcoin slowly and lazily moved first upward, reaching $67,269 on April 23, and then returned to where it began its weekly journey: to the $64,000 zone. It seems that market participants froze in anticipation of who would be the first to start buying or, conversely, selling the main cryptocurrency massively.   According to experts from Bitfinex, the post-halving supply restriction stabilizes the price of the first cryptocurrency and may contribute to its growth. "The reduction in the pace of bitcoin issuance after halving, which will amount to $30-40 million per day, contrasts sharply with the daily net inflow of $150 million into spot ETFs. This emphasizes a significant demand and supply imbalance, which may contribute to further price growth," stated the Bitfinex report.   However, analysts from QCP Capital believe that bitcoin optimists will have to wait at least two months before assessing the effect of the past fourth halving. "The spot price grew exponentially only 50-100 days after each of the three previous halvings. If this pattern repeats this time, bitcoin bulls still have weeks to create a larger long position," their report stated.   Anthony Pompliano, the founder of the venture company Pomp Investments, believes that within 12-18 months, the coin is expected to grow to $100,000, with chances of reaching $150,000-200,000. However, before moving to a bull rally, BTC/USD, in his opinion, is waiting for a correction down. At the same time, Pompliano believes that the price will not fall below $50,000. "I think we have already crossed this Rubicon," – he wrote.   The possible upcoming decline of the main cryptocurrency is probably a topic currently much more discussed than its subsequent growth. Many agree that bitcoin coins will appreciate in the long term. But how will quotes behave in the more foreseeable future? Fidelity Digital Assets, the leading issuer of one of the spot BTC ETFs, has already revised its medium-term forecast for bitcoin from positive to neutral. The reason for abandoning optimistic sentiments is several worrying trends in the crypto market. Fidelity analysts noted the growing interest in selling from long-term hodlers. Among them, there is currently a large percentage of profitable addresses, as noted in the company's report. This means that holders may want to lock in profits and start selling BTC. On the other hand, on-chain data indicates that small investors, on the contrary, continue to accumulate the first cryptocurrency. Since the beginning of the year, the number of addresses on which BTC is stored for at least $1,000 has increased by 20% and reached a new historical maximum. "Such a trend may indicate the growing dissemination of bitcoin and its acceptance among 'average' users," – Fidelity noted.   Specialists from CryptoQuant examined the SOPR indicator readings for these categories of investors and made conclusions similar to those of their colleagues from Fidelity. Investments in Bitcoin by "new" whales (owners of coins "aged" less than 155 days) almost doubled the indicator of "old" large players (more than 155 days). At the same time, the increased value of the metric showed that the profits of the "old" hodlers significantly exceed the indicators of the "newcomers". And if the "old-timers" move to fix profits, this may lead to the formation of price peaks. An analysis of the current picture, according to CEO of CryptoQuant Ki Young Ju, also speaks of the need to exercise caution in anticipation of possible corrections and increased volatility.   Recall that earlier, specialists from JPMorgan noted that digital gold is in a state of overbought. And co-founder of CMCC Crest Willy Woo noted that if the price of the first cryptocurrency falls below the support level of short-term holders at $58,900, the market risks moving into a bearish phase.   As of the evening of Friday, April 26, the BTC/USD pair is trading in the region of $63,950. The total capitalization of the crypto market is $2.36 trillion ($2.32 trillion a week ago). The Bitcoin Fear & Greed Index remained in the Greed zone, although it rose from 66 to 70 points.   Finally, in conclusion of the review, our long-forgotten crypto-life-hacks column. It turns out that in order to become a crypto millionaire, it is enough to have a marker and a piece of paper. The possibility of such a way of enrichment was proven by Christian Langlois, also known as Bitcoin Sign Guy. This guy made headlines in many news outlets after showing a notebook sheet with the inscription "Buy Bitcoin" behind the back of the Chair of the Federal Reserve System Janet Yellen. At that moment, the head of the Fed was giving testimony about the state of the US economy. This image instantly spread across the network and became one of the symbols of the emerging crypto industry.   For his misdemeanour, the 22-year-old intern Langlois was disgracefully expelled from the hearings. But after this episode was shown on television, enthusiasts sent 7 BTC to his crypto wallet to thank the guy for his bold move. Four years ago, Christian sold 21 copies of the "cult" sheet at an average price of 0.8 BTC, earning another 16.8 BTC. Thus, his total earnings reached 23.8 BTC, which is more than $1.5 million at the current exchange rate. And a few weeks ago, Langlois was offered another 5 bitcoins for the original, but he refused to sell the sheet. Nevertheless, Christian liked the idea of further monetizing the self-created object of "artistic and historical heritage", and he decided to sell it at an auction, directing the proceeds to finance his startup Tirrel Corp. On April 25, 2024, the auction house Scarce.City reported that the lot, which became a popular meme, was sold for 16 BTC (more than $1 million). NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • С радостью сообщаем, что мы добавлены на мониторинг OKchanger Контакты: Наш сайт - https://bitkovskiy.io/ Почта - bitkovskiy.change@gmail.com Telegram - https://t.me/Bitkovskiy_exchange
    • там автоматом, вроде, должно. при соблюдении нужных пунктов. что-то типа этого:     а еще у них есть пулы:     а ля американские горки вверх-вниз?
    • В России планируют запретить оборот криптовалют — депутаты назвали точную дату   Исключение авторы проекта предлагают сделать для майнеров, участников майнинг-пулов и «проектов Банка России в рамках экспериментального правового режима». Участниками обращения криптовалют считаются российские или иностранные юрлица и их представительства, а также физические лица, находящиеся на территории страны не менее 183 суток в течение 12 следующих подряд месяцев (то есть полноценные российские налоговые резиденты). Законопроект предлагает запретить на территории страны любую рекламу самих криптовалют и рекламу организации обращения виртуальных монет. Сейчас в действующем законодательстве есть запрет на расчеты между физическими и/или юридическими лицами в криптовалютах, но нет запрета на «организацию обращения» в любом виде. Это обновленная редакция законопроекта № 237585-8, который появился в ноябре 2022 года и должен был отрегулировать майнинг. Тогда документ не прошел даже перовое чтение. В феврале 2024 года авторы законопроекта снова попытались дать ему ход, но 19 апреля комитет по финансовому рынку постановил отправить текст на доработку. В пятницу, 26 апреля, вечером новая версия появилась на столе у председателя Госдумы Вячеслава Володина. Авторами и прошлой, и новой версии законопроекта значится группа из 16 депутатов, в том числе достаточно статусных: председатель комитета по финансовому рынку Анатолий Аксаков, зампредседателя комитета Аркадий Свистунов, зампредседателя комитета по информационной политике Антон Горелкин, первый зампредседателя комитета по безопасности Андрей Луговой, бывший министр сельского хозяйства Алексей Гордеев и так далее. В начале апреля главный фронтмен законопроекта, Анатолий Аксаков, жаловался, что принять закон мешает «одно-единственное ведомство». И обещал, что проект точно станет законом в августе.
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