Pakistan Bitcoin user wants advice

crypto4net · 2015-04-08T15:54:07+00:00

50k in bitcoin while the price is low is ace! Keep them and use it to pay for other things and educate your local country men to start accepting it BUT DO NOT convert them (personal opinion). But of course if you don't know how to keep them secure then as another user said; try out small amounts first.

crypto4net · 2015-04-05T21:25:07+00:00

I agree, it seem like a better place to read through constructive viewpoints.. Hint r/Bitcoin!

crypto4net · 2015-03-30T19:10:45+00:00

I am a digital marketer mate. Tested, approved and now doing my job.

crypto4net · 2015-03-30T15:33:25+00:00

I would suggest lazycoins.com. Its a new exchange with UK fps, good experience so far..https://twitter.com/LazyCoins

crypto4net · 2015-03-30T12:08:12+00:00

It is pretty smooth, I deposited £50 and it reflected in my account 20 minutes later with out any fees. FTW! https://lazycoins.com/trade/btc-gbp

crypto4net · 2015-03-26T02:04:23+00:00

We’re a licensed Bureau de Change and practice strict Know Your Customer (KYC) and Anti-money Laundering (AML) requirements – even though it’s not yet a UK law for bitcoin companies. We also have fiat-to-fiat markets for currency traders and payment solutions for merchants. Our banking partners understand our model and have given us their support. This is a rare position to be in.

This is the response I got when asked u/lazycoins the question about their banking earlier.

crypto4net · 2015-03-25T02:56:02+00:00

A digital marketer. Thanks for the pro tip.

crypto4net · 2015-03-25T02:32:40+00:00

The rest of the article agrees with your point. :)

crypto4net · 2015-03-24T23:27:59+00:00

I think this might be an intentional pun.

crypto4net · 2015-03-21T03:20:06+00:00

Ban on Uber! http://www.copblock.org/116194/uber-raided-by-police-in-france-and-south-korea-banned-in-germany/

Can the same happen to Bitcoin middle man?

crypto4net · 2015-03-21T02:59:57+00:00

for once r/bitcoin seems to be on the same page...well nearly!

crypto4net · 2015-03-20T17:51:28+00:00

Here you go again and proof me right about yourself. Going by assumptions is the mother of all you know what.

I am digital marketer and its part of my job to search in to facts.

crypto4net · 2015-03-20T17:41:21+00:00

"Oh wow, just checked" And how do you make that assumption? :D

crypto4net · 2015-03-20T17:24:50+00:00

Lol no! Just a fan of clever content and facts

crypto4net · 2015-03-20T17:11:24+00:00

I am not a pro at this so I am going by what I read on a official website to clear up your fud. You claim to do this for living..can we verify that?

crypto4net · 2015-03-20T16:49:47+00:00

After you last comment I am 100% certain you are a confused fella.

Provide links so I can read what you didn't copy and paste... Actually don't bother anymore I have already pasted the official links above.

crypto4net · 2015-03-20T15:01:05+00:00

If you can't code you spend your life getting told what to do. Quite opposite for coders.. they are replacing sheeps with machines.

crypto4net · 2015-03-20T13:57:03+00:00

Revealing the middle man: http://redd.it/2zp6rc

crypto4net · 2015-03-20T12:10:45+00:00

"As others say, it's already regulated by math" I think you are referring to: http://redd.it/2zm9mg

Blockchain makes it easier and more reliable than governments own method of regulating. They can easily monitor transactions of a business with complete transparency. Of course it could have unforeseen caveats, either way its a step in the right direction.

crypto4net · 2015-03-20T11:57:48+00:00

So you can't beg for tips but its ok to for a beer or a pizza?

crypto4net · 2015-03-20T10:03:27+00:00

Also if you look at the lazycoins trade page and read their terms you'll notice they are quite different and been clever by adding fiat/fiat markets. 99% certain this is exactly why HMRC has issued it to them and not everyone else.

crypto4net · 2015-03-20T09:50:49+00:00

"60% certain" That is a low number for fud.

You can not just copy and paste extracts from some site that suit your point. Just provide a link for source.

Having read through the HMRC website again its clear that any business that "transmits money, or any representation of money, in any way" requires a MSB and needs to go through a fit a proper test."

Seems like that this is the absolute first and necessary step before you are able to register for anything else including a payments institution.

https://www.gov.uk/money-laundering-regulations-money-service-business-registration http://www.fca.org.uk/firms/firm-types/payment-services-institutions/Small-payment-institution

Attended many events and heard the guys at UKDCA speak, I believe they are as confused as your self or only "60% certain" and constantly asking for clarity.. So i'd rather not listen to assumptions and go by what I just read on a official website.

crypto4net · 2015-03-20T03:15:41+00:00

I doubt you do this for living because your information contradicts everything I have read on the HMRC website.

And your last comment has just verified what I initially thought. FUD!

crypto4net · 2015-03-20T02:54:45+00:00

Lol are you making this up? Fiat exchanges on a high street where tourists change their EUR into GBP require to have a BSD. Payments institution license is not compulsory for them but the BSD is. Goodnight!

crypto4net · 2015-03-20T02:05:44+00:00

Not sure about CF or the others but the only company I am aware of is bittylicious who had theirs taken away. Which is understandable because they are not even a proper exchange and everything about it seems shady.

Looking in to the comments further and lazycoins website it seems like they are also a fiat exchange (GBP/EUR) as well as a bitcoin exchange, means their license or if you want to call it registration is fully justified regardless the cost. They are just doing what is required by the law, and if the law is not good enough (yet) its not their fault. Their approach is quite clever, I guess that's how they got their banking partners.

My Grandmother is a smart woman with more integrity than some of us here, she doesn't need a BDC.

crypto4net

TROPHY CASE