Bitcoin exchange that supports withdrawal to Dominican Republic?

malko

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Jan 12, 2013
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Right, no government can take it, right:


Did they use a drill to the kneecaps?

Seems the writer of the article didn't dig very much.......

You see, the crypto seized was on US-based exchanges. And only 20 or so odd-million out of 200+.
On an exchange you DO NOT hold the keys to your crypto, the exchange does.
A bit like your cash in a bank vs your cash in your pocket.
 

malko

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Jan 12, 2013
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So far this year 1.8 billion in cryptocurrency has been hacked/stolen/disappeared.

4 billion of cryptocurrency was stolen in 2019;


No FDIC insurance there.

Cryptocurrency reminds me of the Telex-Free scam...........where everybody was getting rich with credits, it was un-reportable, you could convert to cash easily................and then..............boom went the dynamite.

I remain skeptical that it will ever be a "currency".........................a commodity perhaps..............much like gold and silver..............but not a currency.

I believe there is at least one cryptocurrency ATM in SD, but you can only buy it..............not sell it..................at least that is my understanding.

Respectfully,
Playacaribe2

Think of it like an investment, some work out, some don't.

Nobody says Hertz was a scam or a theft, but fact is, lots of investors lost money.

That said the crypto-sphere is new and not that regulated, kind of the wild west of investment.
Same as in " old school" investment, DYOR !!!!
Lots of scams, useless coins and tokens, exit-scams, etc....

However, today BTC and ETH are considered blue chips..... And most people stick to that and a few other altcoins.
If one goes all in on sh.itty penny stocks, can they complain if they lose their initial ?

Most major exchanges ( on-ramps to convert fiat to crypto ) are in fact regulated and covered by huge insurance policies. Your funds are safe with them, however once you buy crypto the safest route is to take them off exchanges and put them into cold storage, where you and ONLY you control the keys.
 

malko

Campesino !! :)
Jan 12, 2013
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Anyone who bought bitcoin, a year ago with their very hard earned dominican pesos would be MUCH better off today.

True for every currency, but more so in places like here where your fiat gets you less and less as time goes by.
 
Jan 9, 2004
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Think of it like an investment, some work out, some don't.

Nobody says Hertz was a scam or a theft, but fact is, lots of investors lost money.

That said the crypto-sphere is new and not that regulated, kind of the wild west of investment.
Same as in " old school" investment, DYOR !!!!
Lots of scams, useless coins and tokens, exit-scams, etc....

However, today BTC and ETH are considered blue chips..... And most people stick to that and a few other altcoins.
If one goes all in on sh.itty penny stocks, can they complain if they lose their initial ?

Most major exchanges ( on-ramps to convert fiat to crypto ) are in fact regulated and covered by huge insurance policies. Your funds are safe with them, however once you buy crypto the safest route is to take them off exchanges and put them into cold storage, where you and ONLY you control the keys.
That is fine. An investment perhaps............but NOT a currency................nor will it likely ever be because of its wild swings. No countries economy could cope with a currency that is 13,000 one year and 3,000 the next.................see Venezuela and Zambia for recent examples of why.

Crypto acts and trades like a commodity or alternatively a payment system platform...................but please DO NOT call them a currency. They are not.


Respectfully,
Playacaribe2
 
Jan 9, 2004
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Anyone who bought bitcoin, a year ago with their very hard earned dominican pesos would be MUCH better off today.

True for every currency, but more so in places like here where your fiat gets you less and less as time goes by.
Nice head fake.

But anyone who bought Bitcoin in 2019 for 19,000.......................is now 6,000 to the red;


Keep repeating it is NOT a currency............and if you wish to call it one.................it is a very unstable one.


Respectfully,
Playacaribe2
 

malko

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Nice head fake.

But anyone who bought Bitcoin in 2019 for 19,000.......................is now 6,000 to the red;


Keep repeating it is NOT a currency............and if you wish to call it one.................it is a very unstable one.


Respectfully,
Playacaribe2

Cryptos may not be LEGAL currency/tender but they are currencies.

If you bought at the absolute at-the-high, you are in the red......... For 90% of all the other days you could have bought, well, you are in the green.
 
Jan 9, 2004
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Cryptos may not be LEGAL currency/tender but they are currencies.

If you bought at the absolute at-the-high, you are in the red......... For 90% of all the other days you could have bought, well, you are in the green.
More nice spin.....................

Read the article............and the caveat where you pulled your 90% reference.............but I admire your defense.

And you are correct they are not LEGAL currency/tender..............and likely never will be. Remember.....breadfruit/seashells/wampum...............


Respectfully,
Playacaribe2
 

jstarebel

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Oct 4, 2013
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Cool.. I can refill my phone using bitcoin.. Now, if I could buy tangible assets like gold or silver with it, I'd be impressed..

To the OP.. I take it that you have a brokerage account. why don't you just sell what you want of your bitcoin, and do an ACH from your brokerage account to your bank. Then you would have fiat currency. Seems pretty easy and without a middleman.
 

Big

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Apr 24, 2019
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try paying anyone with bitcoin or paying for anything for that matter. It will get you hurt. Wonder what the chicas would do if you said you had a e-wallet loaded with bitcoin
 

malko

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Jan 12, 2013
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Cool.. I can refill my phone using bitcoin.. Now, if I could buy tangible assets like gold or silver with it, I'd be impressed..

To the OP.. I take it that you have a brokerage account. why don't you just sell what you want of your bitcoin, and do an ACH from your brokerage account to your bank. Then you would have fiat currency. Seems pretty easy and without a middleman.
Ask, and you shall receive.
 
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NALs

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Jan 20, 2003
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This should be interesting. A map of the Latin American cities in 2020 with the most Bitcoin cashiers. Notice only one island in the Caribbean has two cities offering Bitcoins cashiers and the most Bitcoin cashiers. Most islands offer none!

 
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RDKNIGHT

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Mar 13, 2017
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Anyone who bought bitcoin, a year ago with their very hard earned dominican pesos would be MUCH better off today.

True for every currency, but more so in places like here where your fiat gets you less and less as time goes by.
same can be said for anyone who purchased amazon or tesla stock. and its much safer... than putting your money into a dark hole not knowing where it is....
 
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RDKNIGHT

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This should be interesting. A map of the Latin American cities in 2020 with the most Bitcoin cashiers. Notice only one island in the Caribbean has two cities offering Bitcoins cashiers and the most Bitcoin cashiers. Most islands offer none!

all countries where drug dealers are hiding their money ....sometimes bitcoin hides your money and you never find it again.....
 

malko

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all countries where drug dealers are hiding their money ....sometimes bitcoin hides your money and you never find it again.....
You'd have to be a special kind of muppet of a drug dealer to use BTC ATM's as the mark up is horrendous, around 6%, whereas an exchange will be around 0.26%.

Also BTC is really not the crypto to use to hide your drug proceeds, as in the only positive is that it is safe from governments, but everybody can see the transactions--- and you pay taxes on them.

If you want to hide your drug money, please use Monero :) :)
 

RDKNIGHT

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You'd have to be a special kind of muppet of a drug dealer to use BTC ATM's as the mark up is horrendous, around 6%, whereas an exchange will be around 0.26%.

Also BTC is really not the crypto to use to hide your drug proceeds, as in the only positive is that it is safe from governments, but everybody can see the transactions--- and you pay taxes on them.

If you want to hide your drug money, please use Monero :) :)
It's just not for me ..i wish you continue luck......what's happens when you lose you pin?..... bye bye money .... tell me this what's happens when you lose your pin in the stock market ? what kinda rule is that?
 

malko

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It's just not for me ..i wish you continue luck......what's happens when you lose you pin?..... bye bye money .... tell me this what's happens when you lose your pin in the stock market ? what kinda rule is that?

Valid point.
Being your " own bank" comes with risk, if you lose your seed phrase, send crypto to a wrong address,etc..... there is no recourse and your funds are lost forever.
 
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jstarebel

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Valid point.
Being your " own bank" comes with risk, if you lose your seed phrase, send crypto to a wrong address,etc..... there is no recourse and your funds are lost forever.
Do you have any insight as to Bitcoins future should world governments roll out their own digital currencies and regulation comes into play? (China, US and UK are working on one) You seem to be up to date on Bitcoin, and I'm interested in your opinion.
 

malko

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Do you have any insight as to Bitcoins future should world governments roll out their own digital currencies and regulation comes into play? (China, US and UK are working on one) You seem to be up to date on Bitcoin, and I'm interested in your opinion.

I think Bitcoin is here to stay, mainly because of " first mover " syndrome and also because it is a deflationary currency. There will only ever be 21 million Bitcoins, and that appeals to lots of folks that think money printers in central banks will be the downfall of the economy as we know it.
It's transparency is also a major asset.

Will we see another 1000% gain on value ? I think not.

I think blockchain technology is in its infancy and the real life applications are tremendous and importantly--- from an investor point of view --- yet to come.

I would certainly not invest all my funds into cryptocurrency, but I do believe it is a valuable asset to hold.

I am just a poor bloke, and in no way a financial pro, but, for now, the 30% that I put into crypto has paid out far more than the 70% I put into stocks in 2020.
 
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malko

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As for governments rolling out their digital currencies, it is good news for Bitcoin .

Probably bad news for stable coins ( cryptos pegged to a currency, like USDC, dai or tether who are worth 1$ ), as government backed digital currencies will probably replace them.

Good news for the oracles, smart contracts , defi, orientated cryptocurrencies, as the whole space could go mainstream.
 

mobrouser

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Jan 1, 2002
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Valid point.
Being your " own bank" comes with risk, if you lose your seed phrase, send crypto to a wrong address,etc..... there is no recourse and your funds are lost forever.
Google Gerald Cotten to see how his shenanigans and subsequent death disrupted others.