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I got into crypto because of poker. I was a big player on Seals with Clubs back in the day. Since then, crypto has blown up and become something more then just a gambling token. People actually use it to live their daily lives.
Oh I had an issue with my bank that I wanted to stop paying for a specific credit card. However for me to do that I had to answer questions on where I am, how much I earn, if I do international transfers and so on. I was forced to comply, otherwise they would keep on charging me. Is that really how we do business in 2024?Wow! This is strange. Normally there are some bank apps that ask questions when you need credit or debit cards but not to the extent of "how much I earn" and if I do international transactions" . I have only seen, your phone number, email, full name and possibly you mother Maiden name and some simple questions then they process the card for you. Probably the questions are different from different countries. In the decentralized system, only your email and password which can be used to login is okay. And not all those KYC. KYC system is even the worst in the world. Scamming and other fraudulent activities are more in the KYC system.
The anonymity is the best in the crypto community but to some extent we are still identifying some members through the identification of the country base their accent and locale the person comes from. Recently my country government asked Binance to release the uses of the exchange in the country to them but Binance refused. And if the government had an assessed and access the users database then many people that are in the cryptocurrency ecosystem Bank accounts would been blocked, banned and stopped from operating. But the anonymity helps us.The same is the situation in our country, the government doesn't consider Binance or other trading apps or platforms legal, they say they are illegal and anything you do regarding cryptocurrencies is illegal even though there is no clear law about it so far. The banking sector is extremely against cryptocurrencies, you can't make transactions or use an account for cryptocurrency trading purposes.
If you have a bank account and you are suspected by the bank for being involved in cryptocurrencies, they will block your account and freeze your funds immediately, and when you ask them the reason, they will say you need to provide proof of funds to get your account released and funds unfrozen.
- Many countries still consider Binance to be an illegal platform. But if you look at the Binance management, they are willing to comply to be able to operate legally in a country or government that they will enter for the communities they have.
Apart from this, the only sad thing is that the bank will suddenly block their users just because it is suspected that they have no proof. It's like if you go through the legal council in court, they make accusations, and then they want the person they accused to prove that they're right. Isn't that stupid? Because in court, that is not possible; instead, you should be the accuser who proves that what you think of someone is correct, because if you don't have evidence, you will come out as a liar. That's just their system, or, in short, "f*ck management and system they have."
Being anonymous has some pros and cons. However, the rise of the crypto world is primarily due to anonymity, but recent human misconduct has made governments concerned about anonymity. As a financial libertarian, I would certainly support anonymity in the crypto space, but anonymity has become very difficult these days. Various crypto platforms are hindering their anonymity by implementing KYC. Anonymity is certainly good for an honest person but anonymity for those who want to abuse means that they increase the limits of their crime.How many of us use aliases in the crypto world? It's fascinating how biases related to sex, age, skin color, or body type seem irrelevant here—it's purely about your ideas and actions. I was on a call the other day, the presenter used a voice changer and there was no video. It felt freeing to engage purely based on the exchange of thoughts.In the real world, I think that anonymity cannot be used properly, but in the crypto world, which is actually the virtual world, the digital world, I think this is not a problem.
However, this anonymity has its downsides, it's easy to get scammed. Additionally, there are legal concerns, especially regarding taxation. Some countries are even reducing anonymity to prevent tax evasion. What do you think is a good balance between maintaining privacy and reducing potential misuse in the crypto space?
Regarding fraud and violations of the law, starting from ourselves we must be aware that the crypto world is indeed vulnerable to these things.
So we have to be extra careful, because if we lose here we won't be able to complain to anyone and recover our lost assets.
On May 11, gas fees on the Ethereum blockchain dropped to 6 Gwei - the last time such values were seen in January 2020. After the launch of the Dencun hardfork, the network continues to be inflationary. Over the past 24 hours, 716 ETH has been burned and 2,526 ETH has been issued. The coin's exchange rate is showing weakness, trading at $2900.
How many of us use aliases in the crypto world? It's fascinating how biases related to sex, age, skin color, or body type seem irrelevant here—it's purely about your ideas and actions. I was on a call the other day, the presenter used a voice changer and there was no video. It felt freeing to engage purely based on the exchange of thoughts.In the real world, I think that anonymity cannot be used properly, but in the crypto world, which is actually the virtual world, the digital world, I think this is not a problem.
However, this anonymity has its downsides, it's easy to get scammed. Additionally, there are legal concerns, especially regarding taxation. Some countries are even reducing anonymity to prevent tax evasion. What do you think is a good balance between maintaining privacy and reducing potential misuse in the crypto space?
Regarding fraud and violations of the law, starting from ourselves we must be aware that the crypto world is indeed vulnerable to these things.
So we have to be extra careful, because if we lose here we won't be able to complain to anyone and recover our lost assets.
I think we have waited too long, the problem of high gas fees of ethereum has been going on for a long time and the ethereum team does not have a solution for this problem. We can only switch to other networks like Solana, BSC, TRON etc.Currently, ethereum gas still applies on a non-permanent basis, sometimes it is expensive but often enough to pay a fee of around 1$ when sending coins or claiming coins with the ETH network.
Yesterday, I spent around $1,2 for claiming reward from Meson coins with ERC20 network and taking around under $1 for sending that coins to exchange wallet. I think its more lower gas fees of Ethereum with usually taking more than $10 for claiming coins and around $3 to $6 for sending coins. Have been last several days gas fees around 6 GWEI and its good chance for any one has ERC20 coins sending to market by spending lower fees transaction.
Yes I've got metamask now. It seems to be one of the top wallets for being accepted in many platforms but also being userfriendly!
It’s absolutely true that the metamask wallet is accepted on all existing exchanges and almost all the most popular blockchains are listed in it. If you can figure out this wallet, then you will not have problems like dealing with any other blockchain, since in this wallet any other blockchain is made exactly the same and they similar to each other.
I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Which blockchain would you suggest for a beginner to use?
It depends for what purpose you need this blockchain to understand what blockchain means for a beginner. I would advise you to start learning by installing a metamask wallet, on which you can hold dozens of different blockchains, which one you need is up to you.
The anonymity is the best in the crypto community but to some extent we are still identifying some members through the identification of the country base their accent and locale the person comes from. Recently my country government asked Binance to release the uses of the exchange in the country to them but Binance refused. And if the government had an assessed and access the users database then many people that are in the cryptocurrency ecosystem Bank accounts would been blocked, banned and stopped from operating. But the anonymity helps us.
The same is the situation in our country, the government doesn't consider Binance or other trading apps or platforms legal, they say they are illegal and anything you do regarding cryptocurrencies is illegal even though there is no clear law about it so far. The banking sector is extremely against cryptocurrencies, you can't make transactions or use an account for cryptocurrency trading purposes.
If you have a bank account and you are suspected by the bank for being involved in cryptocurrencies, they will block your account and freeze your funds immediately, and when you ask them the reason, they will say you need to provide proof of funds to get your account released and funds unfrozen.
Maybe I wasn't clear, I bought the MKR on the kraken platform, before I got a Metamask wallet. I know that Metamas is a supported wallet. My issue is the transfer from the kraken platform to my metamask wallet..Maybe you are a new user of Kraken and do not understand how to withdraw tokens from Kraken to your personal wallet. You can refer to some instructions to follow. Everything is quite simple: you send your MKR tokens to your ERC-20 address. Your ERC-20 address can be managed on crypto wallets such as Metamask, TrustWallet, SafePal...
[1] How To Transfer Crypto From Kraken to MetaMask?
[2] How to withdraw cryptocurrencies from your Kraken account
I've recently bought some MKR (MakerDAO's governance token) through Kraken. However, I can't connect Kraken to MakerDAO's voting platform. Can I transfer my MKR from Kraken to my MetaMask wallet without having to sell and rebuy? I bought the MKR at a higher price, so selling now would mean taking a loss. I'd love to participate in MakerDAO governance with the MKR I have. Any advice?
Metamask is a decentralized wallets that supports ethereum chain and since Maker Dao is also Ethereum chain by default, you can actually vote using Metamask as the person above have suggested with the official linl above.
Actually, this is even one of the right way to vote on Makerdao, Kraken is a centralized exchanges and because you don't have the private keys to your funds, you can't do anything with your wallet unless you make use of a personal wallet and Metamask is okay for the job.
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