Fair point. I do understand that it is a heavily regulated area. I don’t know enough to evaluate how something like maid sells its ‘use tokens’ (safecoin) from it’s own reserves, then replenishes from corporate cash when prudent … i.e. selling future services is potentially different from the ‘money transmitter’ thing. Like I said, it could be a completely infeasible idea.
In the simpler instance, perhaps a gateway crypto service that does btc->safe swaps, with the exchange stuff handled on the backend?
Bitfinex does not ask for fees, supports OMNI protocol and has ongoing vibrant open source and permissionless decentralised exchange projects. I suggested it before but it was shot down, prematurely IMO, due to “bad press”.
The banking cartel hate this sector and Tether in particular as it is the stablecoin market leader and erodes bank cartel control over USD pairings required by worldwide cryptocurrency exchanges. All your usual big finance linked mass media properties pump out negative news non-stop, but nothing of consequence has proved true after Bitfinex’s 7 years in operation. Same goes for Kraken another exchange that shows some non-bank-cartel integrity but has experience much more mass media bad press since it told the NY Attorney General to take a hike, making it a good recent example to view reputation inside the crypto community (very good) vs what mass media says about it (very bad).
In Bulgaria, at the end of 2017, a programmer launched a fork of Monero called Levcoin (in the name of the Bulgarian national currency Lev)
Several hundred people began mining it. I follow the Levcoin facebook group and I can say for sure that most of these people are barely getting into facebook… But they mining because there is easy guide in Bulgarian …
If farming is easy as torrents everyone will be a farmer…
Being in the USA they had to get a financial license in order to trade in FAIT and at the time they were operating under exceptions in the laws and maybe even at times skirting the edge. Basically they did not want to have FIAT. Really simple answer.
It was Circle that wanted FIAT trading so they introduced it by doing the requirements to get that financial license. The changes to allow them to get the license might have been a little difficult with all the guarantees and compromises they did with the government bodies, but the ability is easy by getting the license. The trading in FIAT is actually less of an issue than trading in the more volatile trading pairs.
Tether etc was seen as a way for the exchange itself not to get a license off their government and have a separate (structure wise) entity to get the license (if they even needed it with the separate entity) with the associated easy requirements and then trade tether rather than fiat.
Yes but also things like phone APPs buying coins will be easy enough and if people want coins they will search APP, install and then buy coins via “in-app” purchases. People do similar to buy movie tickets and so not a foreign concept at all. And there will be plenty of other avenues. It could even be incorporated into the SAFE’s browser (or fork of it) APP for the phone and satisfy the original desire (on phones at least)
Maybe I’m missing something, but isn’t this exactly what Coinbase does? Coinbase is one of the top Android and IOS apps on their respective markets. Robinhood, as well, allows you to buy and sell BTC and stocks directly on their app.
The other way to buy crypto with cards is to use third parties.
Total pita tbh.
I remember buying bitcoin with cards, but you had to go though a 3rd party to get fiat to the site, then you had to buy in game gold before trading that for bitcoin.
For the record, Bittrex has USD pair with crypto. It just hit me that when they implemented USD last year, if it was around when they delisted MAID, wonder if they got scared of the securities regulation. If I remember correct the reach of 3 letter goverment agencies expandes when a company allows trading with USD or American customers, but I’am not sure, just think I heard it is that way. But I may be wrong.
This may be a recurring question but still… As I think this older thread is dead and this Medium article slightly outdated (Cryptopia is gone, UpBit has delisted MAID as well), let me once again ask:
Is there at present any official or community-driven effort to get MAID listed on a decent exchange?
It looks like we are stranded with Hitbtc and Poloniex, both of which are infamous for their insane withdrawal fees (317 MAID on Hitbtc, which is $40+ even with today’s prices). I am not pushing to “get MAID to as many exchanges because gainz and shill” but it would be nice to have a place, where a regular guy could scale in at and then transfer to a safe place. Which I am commited to doing more than ever, after the Crptopia still-officially-hack.
Ughhh, OK, that’s my big bad, I didn’t check on there personally (only on Hitbtc), as I don’t have an account. Their reputation on Reddit was convincing enough. Well, never trust the internets they say. Thanks for the correction and hope, man!
I will reg there and see for myself later today, hopefully they have not increased is (the Reddit post is 1y old), as 10 MAID is very reasonable. Cheers!
I use Polo regularly, only have good things to say about them ever since I used them. Had trouble with a btc deposit not crediting once but still in a week or two support worked it out and credited my account. Ever since Circle took them over they have been cleaning things up a bit(And yes 10 maid withdraw is still accurate).
