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why in this thread does not use language of Malaysia / Melayu ?
just ask
just ask
Sebab sini boleh land, saya cuba cakap bahasa melayu dengan melayu tetapi dia reply english plz
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
I just make a withdrawal 5 hours ago and yet the status shown as pending approval even though I receive an email Withdrawal has been approved. What does this pending review status really mean?
From what I understand, "Pending Review" means there was a soft error during your withdrawal and it needs a manual check to proceed.
Some time ago I was told (by Raphael I think, not sure now tbh) that you should open a ticket for these. (i.e. email support@bitfinex.com)
I do send them an email but haven't receive any response from them.
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
I just make a withdrawal 5 hours ago and yet the status shown as pending approval even though I receive an email Withdrawal has been approved. What does this pending review status really mean?
Are you located in the US?
Have you read the FINCEN guidance note?
http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
Have you read the FINCEN guidance note?
http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
I am from Malaysia（South East Asia）.
FinCEN starts going off the tracks early on, as they carefully define a User (not subject to MSB registration) as a person that obtains virtual currency to purchase goods or services
Since my purpose is for reselling I guess I still need to register with FinCEN.
I been trying to reading AML and CFT for few days and I am still clueless. If I am doing trade in good faith and I duno that someone is purchasing bitcoin for the the purpose of money laundering. What kind of situation I might facing. I do think that i dont have the responsible to identify the intention of buyer.
From a legal perspective, if its small amounts then it may go under the radar as the risk/return is quite low.
If you are looking at a substantial sum, then there is more than the legal worry... What if you F with the wrong person?
If you are looking at a substantial sum, then there is more than the legal worry... What if you F with the wrong person?
Truly agree cox I am plan to do it in regular basic
I think from a legal standpoint, it would depend of the law wherever you are.
From a moral standpoint, it's the same regardless of where you are.
From a moral standpoint, it's the same regardless of where you are.
If in Africa?
yes considering that bitcoins are not tied to any one's ip address
Due to my understanding there is no standard or agreed method to show that someone is the owner of a wallet or address. So IMO anyone also can be the owner if we know the password.
I just read somethings from reddit so call "Arrested by the police for localbitcoins business" .http://www.reddit.com/r/Bitcoin/comments/1to08d/arrested_by_the_police_for_localbitcoins_business/I will like to open one discussion here. Lets there is a robber or drug trafficker deposit his dirty money into the bank and using bank transfer to buy bitcoin from. Would I facing any risk in term of money and legal? Does stolen goods applied to stolen money for example I do no have the ownership of stolen money or unlawful money? My worst case scenario is my bank account being seized for investigation only or I might pay more money than I earn for legal aid? or I be in jail? or etc.
Remark:I duno the story by throw_localbitcoins is truly happen or not.
Remark:I duno the story by throw_localbitcoins is truly happen or not.
ya that's why I am asking here.
Why? are you going to be receiving money you know to be stolen or fraudulently obtained?
I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.
Heck I'll trade with him if he's giving you a good deal. what's he charging you? How are you paying him? How fast does he transfer the BTC after payment?
I trade though localbitcoin and I do type every detail about the trade in the messaging system. Payment method bank transfer.
Re: If I am selling BTC on localbitcoins is it safe to accept cash deposit?
In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.
What's a WU transfer?
So how do people reverse bank transfers?
So how do people reverse bank transfers?
For example money from stolen bank account.
I understand it could be done if the money was stolen etc, but if I accepted a bank transfer, could the owner then do a PayPal on me and reverse it for no valid reason and get his money back and leave me out?
Somehow there been cases stolen bank account actually is their friend that login from other pc or network and perform the transaction and then claim that their account being stolen and get their money back..
Re: If I am selling BTC on localbitcoins is it safe to accept cash deposit?
In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.
What's a WU transfer?
So how do people reverse bank transfers?
So how do people reverse bank transfers?
For example money from stolen bank account.
Re: If I am selling BTC on localbitcoins is it safe to accept cash deposit?
I think its pretty safe. I don't think bank transfers are reversible.
WRONG! Yes, they are.
OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.
For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been moved into my account. I might be thinking too much but i just plan to play safe..
What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.
I think its pretty safe. I don't think bank transfers are reversible.
WRONG! Yes, they are.
OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.
For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been moved into my account. I might be thinking too much but i just plan to play safe..
What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.
I am planning to sell / buy btc at localbitcoins . My curent plan is to do my homework now before it is too late
Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.
My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?
You can't really. I think best bet is to not worry, or if you can't stop worrying or being uncomfortable, maybe trading bitcoin isnt for you.
After reading few cases of bitcoin fraud and scam. I found out that there is a need for me to do case study and go through all the method that can be used. I do plan to continue buy and sell at local or through exchange.I am totally agree with you that i am worry too much. But no harm if i list out all the risk i might facing and draft my contingency plan.
I just started about one month ago everything has been go on smoothly and I do earn little 
. I been stop few days ago to revise my trading strategy. Daily sales can over equivalent to USD1,000 if using the lastest record.
. I been stop few days ago to revise my trading strategy. Daily sales can over equivalent to USD1,000 if using the lastest record. Re: If I am selling BTC on localbitcoins is it safe to accept cash deposit?
I think its pretty safe. I don't think bank transfers are reversible.
WRONG! Yes, they are.
OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.
For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been moved into my account. I might be thinking too much but i just plan to play safe..
What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.
I think its pretty safe. I don't think bank transfers are reversible.
WRONG! Yes, they are.
OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.
For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been moved into my account. I might be thinking too much but i just plan to play safe..
What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.
I am planning to sell / buy btc at localbitcoins . My curent plan is to do my homework now before it is too late
Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.
My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?
ya that's why I am asking here.
Why? are you going to be receiving money you know to be stolen or fraudulently obtained?
I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.
Re: If I am selling BTC on localbitcoins is it safe to accept cash deposit?
I think its pretty safe. I don't think bank transfers are reversible.
WRONG! Yes, they are.
OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.
For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been moved into my account. I might be thinking too much but i just plan to play safe..