Token Daily

25 2 3

sanmaosimao 6 days ago

China is going full North Korea. The country is finished.

1

loot6 6 days ago

But Zhao Lijian said they 'still want to continue with one country two systems'...so no need to worry.

1

danish_empire 6 days ago

I reckon all law enforcement officers will be driving Tesla's soon.

1

taliyahalghul 6 days ago

1984 in real life

1

TheAsianOne_wc 6 days ago

So now we're going down a North Korea path

4

Baybob1 6 days ago

Boycott China. They kill and imprison their own citizens and commit genocide of other people. If at all possible, don't buy Chinese goods. Don't hire Chinese nationals. Do not let them into our academic institutions where they steal our technology. They only understand force and money and since we aren't going to attack them, we must strangle their economy ...

9

Antimatter2005 6 days ago

That’s a good thing!

0

Pafufu 3 days ago

How?

1

moopoo345 6 days ago

There's a reason why almost every rich Chinese businessman stores their money in offshore locations

9

shaan_s 6 days ago

What the fuck do the people have left to themselves?!

7

Highglee 6 days ago

What does this mean for the South China Morning Post (SCMP)?

10

trash-juice 6 days ago

Just killed the city of HK, it’s China who will loose out

1

Reptilian_Brain_420 6 days ago

Never saw that coming...

1

Tigris_Morte 6 days ago

Are Pooh Bear's apologists here to tell us about how the law is just like in the US yet?

3

PacoJazztorius 6 days ago

In other words, the Republicans' definition of "freedom!"

1

chattejaponaise 6 days ago

Declare war on China. Arrest Xi Jinping and put him on trial for crimes against humanity.

3

frozentomato29 6 days ago

No one wants to fight in the massive war that would come about because of this. Do you really want WW3 but with hella nukes? Because that’s what you’re asking for. Now I’m not saying something shouldn’t be done but declaring war should be the very last option here.

1

chattejaponaise 6 days ago

Only ones asking for WW3 is china. give it to them and put them back in their place. if the whole world shows aggression China might back down.

0

frozentomato29 6 days ago

Or you know people can just move business from China, Sanction the fuck out of them to the point of isolation like North Korea and then just let the Chinese populace take care of the CCP. There is no need to start a full scale war with one of the worlds largest super powers that will kill millions.

0

chattejaponaise 6 days ago

Im sure that’s what a lot of people said about Nazi Germany and their massive military

0

logiclust 6 days ago

funny how chinese cops have more restrictions than american pigs

0

klone_free 6 days ago

Sounds alot like the earn it act but for less of the pie

1

readinreadin 6 days ago

“ orgs based in Taiwan or oversea“?

2

SE_to_NW [SE_NW] 6 days ago

_According to the new stipulations, the head of the police force may – with the permission of the security chief – ask international political organisations and those based in Taiwan to hand over information, including data on their activities in Hong Kong, personal data, sources of income and expenditure. Any group that does not act in accordance with the demands of the authorities faces a fine of HK$100,000 and six months in jail._

1

businessbaked01 6 days ago

So have the CCP inserted their own people to make these decisions? Or did the Hong Kong government sell out?

1

FacelessOnes 6 days ago

This is so fucked.

13

madhattergm 6 days ago

Are they inching us towards global conflict or are we doing that?

0

corpus_hubris 6 days ago

This is really fucked up.

4

dan0man 6 days ago

Hong Kong is no longer Hong Kong. It is just another chinese city under Emperor Xi.

51

HooperSuperUser 6 days ago

It's Xiang Gang now.

5

lijjili 6 days ago

Wumano/50 yuan here. FYI - It’s always been a Chinese city, just stolen from China during the opium wars. Finally nice to see fear in the rioters eyes.

0

dan0man 6 days ago

"Nice to see fear...". Since English might not be your first/primary language, let me tell you how that sounds. You want people to live in fear, to be scared to voice their opinions, terrified to talk about non communist policies. If you truly want this you are a horrible human being.

24

Minmaxxed 6 days ago

Bold of you to call someone like THAT a human being lmao

7

string_1981 6 days ago

RIP Hong Kong

16

Calguy1 6 days ago

The u.s. government whacks off to this idea every day.

1

Ravenchaser210 6 days ago

alright it's over... rip HK

8

25 2

shorething99 4 days ago

The fleecing of America by the wealthy at the expense of the rest of us continues. Read the article, it's not just Scientology, it's billionaires and the ultra-wealthy.

This money is flowing freely to the 1% of the 1% while ordinary Americans are unable to afford rent and small businesses have struggled to get a lifeline. Nice system we have here.

6

centrionline 5 days ago

So why not ask questions about this?

1

Run_zeke_run 5 days ago

Can someone explain to me how these churches are qualifying for federal government loans?

4

BeachBarsBooze 4 days ago

The requirements are listed at: [https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program](https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program) Pretty much any business entity that meets the size requirement, and can demonstrate (or pretend) that they would otherwise lay an employee off if not given the loan, is then eligible for the loan. If they then spend most of the loan within a few months, they don't have to pay it back. The reason why larger businesses are receiving the bulk of the loans is because the federal government of course made the application process both fairly complicated and limited in banking entities that could process the applications. Many small businesses were not able to \*quickly\* produce the necessary financial statements, and many small businesses also didn't have a banking relationship with an entity who was not immediately overwhelmed with PPP applications. The end result is mostly larger businesses with an accounting team, combined with a banking relationship where the bank prioritized working on their application, got the apps in and approved while small businesses didn't. I think it's lame that a 'religion' who is already getting a heavy tax advantage is able to apply. If they aren't viable without both a tax advantage and a loan, then they should go out of business instead of further burdening tax payers to support them.

1

Run_zeke_run 4 days ago

Yeah I guess I fall a little more on the side of religious entities shouldn't be eligible for loans that are funded by tax payers. But apparently not everyone agrees.

2

BeachBarsBooze 4 days ago

Oh good point. If I had to guess, it isn't the religious entity that took the loan; they're too large to qualify. Based on that TBT article from last year about how they are using hundreds of anonymized LLC's to buy up downtown clearwater, they likely applied for the PPP through some of their associated entities, that they really own, but it doesn't look that way on paper from the fed's perspective.

1

Mystery-turtle 5 days ago

Well, according to our big brain governor they’re essential businesses!

3

BeachBarsBooze 4 days ago

Whether or not a business is classified as essential at the state level has nothing to do with federal PPP loans.

1

Mystery-turtle 4 days ago

I absolutely refuse to start using sarcasm tags just because people like you refuse to get it

0

Run_zeke_run 5 days ago

I doubt I'll get anyone to tell me jack shit, but I'm going to call my state representatives and the governor's office to ask about it. Not that it's going to do anything 🙄

2

BeachBarsBooze 4 days ago

It isn't a state program, it's the federal government.

0

Run_zeke_run 4 days ago

Which we have representatives in, that represent us.....

3

BeachBarsBooze 4 days ago

Sorry, when you mentioned governor with 'state' representatives I thought you meant state level reps.

1

skd977 5 days ago

If it’s any consolation, the same thing is happening in every country.

1

richiemorrocco 5 days ago

and yet my fathers auto shop couldn’t get one. fuck this country

1

baloneysandwich 5 days ago

I own a small business and we were doing alright so I decided not to pursue a PPP loan because I didn't want to unfairly take from the pile when someone else might need it. This makes me angry.

1

thatoneinthemiddle 5 days ago

WHAT THE ACTUAL FUCK? All you motherfuckers better vote this year. And in every election, too.

1

ThePervyGeek90 5 days ago

For me if your organization doesn't pay taxes then it shouldn't get a loan plain and simple. #1 reason why the cruise line industry didn't get a loan.

3

NYC-COVID19 5 days ago

Most of the majory cruise lines are not US companies so they don't pay US Taxes so they are not eligible for US subisides Royal Caribbean is a Norwegian company Carnival Cruise Line is a UK company Celebrity Cruises is a Liberian company etc....

1

ThePervyGeek90 5 days ago

Then you forgot churches in that list. Which a ton of them did.

1

kkocan72 5 days ago

i Wonder if everyone posting here realizes the PPP loan program had strict guidelines. Loan amounts were based on a calculation of the companies pre COVID payroll avg over a period of time. Then the original terms were that 75% had to go to pay employees and payroll Related expenses to get them off unemployment and 25% was allowed for facility expenses such as rent, mortgages, utilities etc.... this all had to be spent over an 8 week period. later on the terms were changed to 60/40 payroll/other approved expenses and over 24 weeks.

There were also other terms and requirements for any staff on payroll making over $100k. Payroll records and receipts all have to be turned in. I think a lot of people think this was just money that went into the company general fund to use however They wanted.

I know, I am the exec director of a nonprofit. The PPP absolutely saved us. We had furloughed almost 100 staff until we received a loan for nearly 200k. $160k of that went to payroll for all the furloughed staff and the rest went to building expenses.

I Am absolutely agreeing that some organizations abused it or were /are easily well enough off in cash flow that they didn’t need it but also know if they received the money they do have to use it for only the approved items.

1

mmilthomasn 5 days ago

Sleaze

1

MakeDivorcesFree 5 days ago

This article here is the problem with the media. NBC is painting their own story without including logic. PPP money must be paid back if it isn't used to save jobs. Period. It doesn't matter how prominent the business owner is, if the money saved jobs and kept people off unemployment, the plan succeeded and the money was used for good.

1

kkocan72 5 days ago

I posted much the same. My organization got a PPP loan and it saved us. But all the money has to go to employees and approved other expenses such as rent, mortgage, utilities etc... everyone posting here seems to think the companies just pocket the money.

1

airbornelawyers 5 days ago

fuck scientology

10

codestaxx 5 days ago

Once you understand the Cantillon effect, you will hate both parties.

1

EmergencyExitSandman 5 days ago

None of these “loans” should be honored.

1

DepletedMitochondria 5 days ago

BLAME CONGRESS

1

happyzod 5 days ago

There are still funds left in the PPP. If small businesses qualified, they would have gotten the loans.

1

Boogaboob 5 days ago

I’m fine with peaceful profiting in times of economic woe, but these looters are destroying their own communities, financial violence never solves anything.

2

PacoJazztorius 5 days ago

Hey all you broke small business owners who voted for Trump: OWN IT!!!

1

teacher_carli 5 days ago

Here are some garbage companies. Ftfy.

1

Sunny9621 5 days ago

What’s happening in our government is legalized looting.

Next time someone says that we are a capitalistic country remind them that that’s not true. We are a socialist country - socialist for the rich. That’s what happens when you have a capitalistic oligarchy.

We are socialists for our top 1%

1

Sunny9621 5 days ago

What’s happening is legalized looting by the top 1%

Meanwhile, around 150000 have died from this virus

3

Athiaa 5 days ago

Don't mind this. You worry about stolen tvs from walmart ! Now that's real theft

10

butt-monkey2011 5 days ago

The church of star trek fanfiction? Why am I not surprised...

Looks like it's time for another one of these

1

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1

Oshake 5 days ago

Do these companies qualify for small business loans? I am not well versed on how these small business loans work. It sounds like they are using workarounds to get them...

2

25 2

basicgoats 2 days ago

You don't bet what you can't risk to lose. However, the stock market is supposed to be more complicated than just "rich boomer gambling". Things like robinhood have made stocks function essentially as scratch-off cards for the ill-informed. Buyer be ware, for sure, but the misunderstandings of how the stock market works should be cleared up to those people.

1

CMShortboy 3 days ago

This one's interesting, because trading is what I like to call strategic gambling. With that being said alone, people know what they're getting into when they throw large sums of money into an app like Robinhood. We as designers can help users limit their mistakes and offer better experiences, especially in terms of clarity, but at the end of the day, people will put in as much money as they want and potentially lose or gain a lot of money. If a person really wants to, they will, no matter how many fail-safes are in place.

I've also been involved in the stock market since January and have been using Robinhood daily for about a month now. It's ethical. There are no pushes to get you to put in money. They only thing they try to push is referring people to signup for you to get free stock. It's not in your face though, no popups, etc. They keep it subtle.

I saw in the comments someone else said that Robinhood lowers the barrier to entry for newcomers to the space. Obviously true. It's a trading app targeted toward beginners, just like Cash App's investing feature that came out in October 2019. Robinhood also has what's called fractional shares, which means you can buy any stock for just a dollar and you will be sold a fraction of the stock. In my opinion, all this does it help newcomers learn the playing field and makes people buy exactly how much of whatever stock they want. For example, one share of Amazon is like $3,000, but if you only have $1,000 to invest, you can still get 1/3 of an Amazon stock.

Hope this answers some of your questions. Feel free to respond with more.

2

totopc 3 days ago

Yeah I get what you mean..That argument surely hits home, even if you put safeguards in it will just be ignored by people. It's like installing an application in windows you just hit next until it's installed. I don't know what I did but I just want to install it. I'll admit I'm too emotional invested in not even letting people get a hold of a good UX like robinhood with low barrier of entry in investment when they have no financial stability. It's like betting on high stakes poker when I'm homeless and in debt just to have a slim chance of winning. The sad part is day trading is being pushed hard by influencers using RH. Rather than just buy and hold on a company with good balance sheet, little to no debt, has a good moat the get on with your life. and never touch it again. I get the impression also that people will do dumb things problem, but i think options like 1. Stoploss notification or As Default 2. Good FICO Scores before Registration 3. Good IRS standings Would help in setting up a barriers. BUTTTTT,,robinhood is not like that.. It's getting the barrier low enough so people would take charge of their finances and take the money from the rich. Sadly the opposite is happening. With that said should we treat an app as neutral or with no right and wrong. That at the end of the day, the perception of a neutral app is just tinted on what people are doing there? Also it's just hard for a company like RH to just stop the growth for it's highly VC backed. A little conflict of interest there. Hey man thank you for commenting. Let me know if there are things that you agree or disagree with.

2

CMShortboy 2 days ago

I find it interesting how you mention influencers pushing day trading on Robinhood. I've actually seen the exact opposite. This could be because I only follow a few top-tier select individuals for trading though. For example, Warrior Trading. Your three points at the end there are very interesting. Quite frankly, I wouldn't be against them either. This would raise barriers though, like you stated. But yeah, the whole neutral aspect of Robinhood comes down to the users at the end of the day. Again, just like you stated, what are the users doing there? Are the users there to learn, trade, or throw themselves in blindly? Great topic and discussion, thank you!

2

totopc 2 days ago

Thank you, I also watch warrior trading videos, but I don't day trade. My day trading urge is satisfied by just watching them :). I actually self moderate because i might be influenced in day trading. Though I'm in an emerging market the stocks are less liquid and volatile than in US markets. (still has a high risk though because STONKS) Clarifying the influencer point, I think i mixed up individual trade groups and individuals with big influencers. I consider trade groups or individual people who are just trading in social media that are just regular people also as influencers. Poor choice of wording in my side so this is my bad. Yeah seems like it's a hard topic. I'm a tad frustrated with topics I can't get a resolution on, guess we'll just have to observe these things pan out. Thank you again in entertaining my questions mate. I'm humbled by your replies.

1

CMShortboy 2 days ago

Ah, yes, Ross is incredible. Dude is a trading legend. Thank you for clarifying about the influencers. I see what you mean now and can confirm that is the case now. And thank you too for your responses! You've also brought up some great insights regarding neutral style experiences. Definitely makes me think a bit harder about barrier to entry.

1

Ghosty_0 3 days ago

Yea but then i switched to ToS, so me big smart now

1

TheTradeDen 3 days ago

Social media more. You see cool cars and people posting a $1000 account suddenly going to $60k and anyone thinks it’s possible.

1

civicmon 3 days ago

How Robinhood doesn’t have a trading desk tel# is absolutely beyond me.

1

Cristian_Cerv9 3 days ago

God... if I made a million, I would stop immediate and start with 100 again lol

Invest in other businesses or skills to keep my income high and basically live a retired life while still living the hustle life but with extreme security

2

blind_mowing 3 days ago

and the ones that made money will soon find out about short term capital gains taxes.

1

Millionaire007 3 days ago

Honestly I remember getting stuck in a trade years ago on TSLA, my platform glitched up and i had to call my fucking broker in the Bahama's to get me out of the trade. I swear if i wasnt so young i wouldve had a heart attack. The stress was insane! When i consider the fact that I was training for a year, had a concrete strategy, an instructor, exited the trade +500, and still my reaction was pure panic mode. The craziest part... the trade only lasted 10 minutes. That's why Ive always hated the idea of Robinhood. An app that can deliver a financial world with tens of trillions of dollars of transactions at ANYBODIES FINGERTIPS with no qualifications. Throwing young people and their life savings to the fucking wolves in the MOST VOLATILE UNPREDICTABLE MARKET ANYONE HAS EVER SEEN. Then when you bomb out your account it's "fuck you pay me".

They offer very little education, dont provide a simulator so you can see if you can even make money. Instead they allow their consumers to be thrown into a live firing squad where billions of dollars are exchanging hand per second, without providing a single fucking safe guard.

FUCK ROBINHOOD THEY'RE NOTHING BUT CAPITALIST VULTURES RAN BY TRUST FUND FUCKERS, SCALPING WHAT LITTLE PENNIES MY GENERATION HAS LEFT

1

iMnotHiigh 3 days ago

Ahh yes let's blame Robinhood for other people's problems....it said on the article the dude had a million dollars lol and didn't take it out, who's fault is that?

1

landob 3 days ago

Wtf how do you get a mil, then jump back in and lose it all? If I got a mil from all of this I Immediately would stop, take the family on a vacation *well if covid wasnt going on* pay off my debts, then drop the remainder info to some safe bluechips/ETF

3

SainnQ 3 days ago

Maybe his dumbass should've learned that realized Profits are Profits at the end of the day, and nobody went broke realizing them.

They went broke gambling for the moon.

1

unlucky-investy 3 days ago

😅I use Robinhood and I’m not doing to bad.

1

TrulyLimitless 3 days ago

lol stonks

1

veritanuda 3 days ago

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1

Snacheeze69 3 days ago

This is financial darwinism.

DDIQ people who don't understand what they're doing are losing thousands of dollars is their own fault. Maybe take time to understand what you're doing instead of taking out debt because you think this is a "game".

Sorry but stick with the app store.

1

mlvn23 3 days ago

This has been going on since the days of the bucket shops!

1

DEV1LSADV0CAT3 3 days ago

TL;DR: Guy goes $75k in debt to fuel his gambling addiction (betting on stocks), makes a million dollars, stupidly loses it all and is left with $7k, whines about it like it's Robinhood's fault he's dumb.

8

IJustLoggedInToSay- 3 days ago

He was dumb to start, got incredibly lucky, and then was like "oops I accidentally didn't destroy my life despite my best efforts, better fix that". Gambling addiction in a nutshell.

3

RandomCollection 3 days ago

http://archive.is/34LCH for paywall

2

olliec420 3 days ago

More New York Times #fakenews. Took out all your credit for tendies and lost... fuck you pay me!

0

shoulditbe420related 3 days ago

Idk, making OTM options easy as a click of a button would never lose anyone a lot of money. /S

2

thc827 3 days ago

This guy is an idiot, this is in no way about Robinhood when he is taking out loans on credit cards and against his house

2

tjcanno 3 days ago

“There’s a sucker born every day!”

“A fool and his money are soon parted.”

1

outline_link_bot 3 days ago

Robinhood Has Lured Young Traders, Sometimes With Devastating Results

Decluttered version of this New York Times's article archived on July 08, 2020 can be viewed on https://outline.com/nM9tRr

1

Neckbeardascended26 3 days ago

He maxed out his credit cards and took out two home equity loans to buy stocks he clearly doesn't understand. The level of stupidity and piss poor judgment on display here couldn't be prevented by gods or men. He's a fucking dumbass and I feel sorry for his kids.

6

dmagee33 3 days ago

It's behind a paywall. I read a little bit though. He opened his account by taking out a credit card advance. That's as dumb as it gets. It also says he lost all that money in March, so he's probably made it all back by now. Sort of sick of seeing cherry picked numbers,

5

concepcionz 3 days ago

Article: Jul 8, 2020 - “This week, his balance was $6,956.”

2

[deleted] 3 days ago

[deleted]

1

PVCAGamer 2 days ago

He could’ve bet it all on puts.

1

dmagee33 2 days ago

Then he's dumb lol

1

11 5

rojotri 2 days ago

Wow

1

Snake_eyes_12 2 days ago

There are reasons why you can't sue a brokerage for losing money because of piss poor decisions. But still doesn't stop stupid people from doing certain un welcoming things.

2

roofbeamcarpenters 2 days ago

I work behind bulletproof glass....it’s nice glass.

3

babyletssail 2 days ago

LoL

1

AvocadosAreMeh 3 days ago

I’ve delivered to their building. Unless they built a gate, hired security, and put it up at all 3 entrances it’s kind of a PR leak to start putting its users in a negative predatory light rather than themselves

4

HoopRocketeer 2 days ago

Predatory? Who is predatory?

2

penningfly 3 days ago

Every time I see this fucking guy's face, I want to punch it. And I don't even have a RH account..

5

favouregb 3 days ago

😂😂

1

DEATHROW_ELITE Newbie 3 days ago

Just read an article on this, it's not different than a casino, cant tell you how many times I've had to fix slot machines from people breaking then because they lost their money. This is no different, people lose money on stonks and they need someone to blame besides themselves.

30

jonsparks 3 days ago

Trading stocks is not anything like gambling in a casino. It’s all the options trades that people are getting into because RH makes it too easy for them to get approved.

0

CardinalNumber Former moderator 3 days ago

It's all gambling when you don't know wtf you're doing.

30

DEATHROW_ELITE Newbie 3 days ago

Thank you haha

1

ShaJune97 3 days ago

Exactly!!! Have a plan of some sort. Stock market doesn't take no prisoners.

4

DEATHROW_ELITE Newbie 3 days ago

Trading stocks does have some gambling tendencies, doesnt exactly reflect a casino but they're there.

4

TheWackyIraqi 3 days ago

It's like 60% luck.

4

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1

DimesOnHisEyes 3 days ago

Crazy people do crazy things.

10

LilC00kieMonstar 3 days ago

Like invest in bitcoin :P

5

luminiram 3 days ago

Or speculate on stocks…crazy!

1

DimesOnHisEyes 3 days ago

That's definitely one thing.

2

smungung 3 days ago

If they used that money to fix the damn app they wouldn’t need to do that

3

CardinalNumber Former moderator 3 days ago

You underestimate how deranged people are. People show up in modmail upset about advice they read here and lost money on. I don't even read PMs or that Reddit chat mess (besides the fact that Relay doesn't support it) because it's all crazy upset people.

12

DEATHROW_ELITE Newbie 3 days ago

I work in a casino, it's not because the app, it's because they're losing money.

8

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geonic_ 4 days ago

It’s 2020 and we now support wire transfers! Yay!

3

tempMonero123 Hurts So Good 4 days ago

They "took" wire transfers before, it was just through a third party. Since Kraken is a major US-based exchange that supports Monero, I think we should support them when possible.

3

geonic_ 4 days ago

Yep, I've been using them for 4 years now. Don't see how this affects the customer -- maybe faster funding times once the money is sent. The process for the client will still look the same. You have to go into your bank and sign a wire transfer form. It's good that they're fixing their back-end of sorts and have a better banking relationship, but why are they advertising an existing feature?

2

Xhotanse 4 days ago

Looks like funding times will be faster. And I thought they had $0 fee for incoming wires, this new option is $4. And my bank charges $25 so it's still expensive to transfer small amounts

3

geonic_ 4 days ago

Much ado about nothing.

1

CryptoDROI 5 days ago

Nice to hear that, great news, Thank you Kraken!

1

geonic_ 5 days ago

ACH please, thanks.

2

exoticparticle 5 days ago

Kraken also supports USDC. So, the free way for Americans to deposit involves an ACH deposit on CBP for free, convert USD to USDC for free, send USDC to Kraken, trade USDC for USD (minor fee), and buy XMR. 😎 For those who want to save a buck or $40, it’s a good option... and not as complicated as it sounds.

7

rBitcoinMod 5 days ago

Similar content has already been submitted several times. Please check the front page of r/Bitcoin and r/Bitcoin/new for previous submissions to help keep repetition to a minimum. You can also try using the search bar. Thank you.

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1

AnotherAnonGringo 5 days ago

$4 per transfer! Unless you're buying a lot of XMR at once, that's insane.

Also, I was told this is the permanent replacement for 'US Domestic Wire.'

1

massaritiaret 4 days ago

> $4 Jeez, thats a relatively pretty much high fee. Unless you buy a 1k worth of XMR or so

5

AnotherAnonGringo 4 days ago

Yeah, now I don't care if Kraken approves my account or not. I don't buy and hold XMR, I buy it to spend. I usually transact <$100 so having to pay $4 for that privilege is a no-go. It's a PITA to buy BTC, send it to my wallet, convert it via Elude, and then spend it, but I only pay like $1 to do it total and it's instant. If I was okay with the ACH delay it would only be the minuscule BTC transfer fees and reasonable Elude exchange fee. Like $0.10 or so.

1

tempMonero123 5 days ago

It's cheaper than Coinbase, I think they charge $10 to receive a transfer.

2

CarlSpender 4 days ago

Coinbase has other options that are cheaper.  Kraken is still behind the curve as it relates to fiat deposits.  It's works for large, large traders, but for your every day purchases? There are other, more convenient, cheaper options.

1

AnotherAnonGringo 5 days ago

A wire, but an ACH is free. You can't ACH nor debit card with Kraken. Even a debit card is only 2% with Coinbase.

5

SamsungGalaxyPlayer XMR Contributor 5 days ago

Could you not wire before?

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ImaginaryTransition7 5 days ago

Not to Kraken directly.

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Adreik 5 days ago

You could, but it was a wire to Etana Custody, not Kraken itself.

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dEBRUYNE_1 Moderator 5 days ago

Felt this was relevant, as Kraken has an XMR/USD pair.

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Kraken-Marcus 5 days ago

Hello dEBRUYNE\_1,  Thanks for the mention.  Best, Kraken

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dEBRUYNE_1 Moderator 5 days ago

You're welcome.

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CryptoMods Bronze 5 days ago

Hello, your post was removed because your account is less than 50 days old or you do not have the required 500 comment karma to make post submissions.

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kraken-jeff 5 days ago

Hello,

We are pleased to announce a new USD funding option for US residents (domestic wire) through MVB Bank. For more information please visit our blog for the full article:

https://blog.kraken.com/post/5573/kraken-launches-new-usd-funding-option-for-us-residents/

Best, Kraken

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kraken-jeff 5 days ago

Hello,

We are pleased to announce a new USD funding option for US residents (domestic wire) through MVB Bank.

For more information please visit our blog for the full blog article:

https://blog.kraken.com/post/5573/kraken-launches-new-usd-funding-option-for-us-residents/

Best, Kraken

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IndigoSoul224 5 days ago

What are the benefits to using this method over a domestic wire via Evolve Bank?

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kraken-jeff 5 days ago

Hello u/IndigoSoul224, thank you for reaching out. We are recommending that US residents who use Evolve domestic wire to switch over to MVB Bank funding method as soon as possible, as it will offer the fastest and smoothest experience for most clients. Should you have any further questions, please do not hesitate to ask, we are happy to assist. - Kraken Support

2

kraken-jeff 5 days ago

Hello,

We are pleased to announce a new USD funding option for US residents (domestic wire) through MVB Bank. For more information please visit our blog for the full blog article:

https://blog.kraken.com/post/5573/kraken-launches-new-usd-funding-option-for-us-residents/

Best, Kraken

1

kraken-jeff 5 days ago

Hello,

We are pleased to announce a new USD funding option for US residents (domestic wire) through MVB Bank. For more information please visit our blog for the full blog article:

https://blog.kraken.com/post/5573/kraken-launches-new-usd-funding-option-for-us-residents/

Best, Kraken

1

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dkass 4 - 5 years account age. 250 - 500 comment karma. 5 days ago

Passive income for USD holding like a CD or a money market fund

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Newmovement69 Tin 6 days ago

Bullish new for ethereum

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vvpan 6 days ago

My first thought was - but how do they limit who is able to receive the coin... And the answer is ERC-1404 as mentioned in the end of the article.

So why would they do it? Or why would investors prefer to use ERC-1404 instead of using ye olde centralized fund shares? It's more risky and the UX is well... we all know what it's like. Feels like the there has got to be more to their plan - cut out the middleman, decrease trading fees, own the trading...?

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jumnhy 6 days ago

I imagine it would help with overhead? I'm still reading through their prospectus, and it's not initially clear why one would do this instead of going through a traditional closed end fund. It appears that ArcaLabs' answer to this may that they want to be the first ones in this space offering such a thing; certainly it might make it easier for retail investors to get in on the fun. But I don't know what sort of inefficiencies it addresses on the back-end in terms of fund management. They're gonna be putting the money raised from selling ArCoin into Treasury notes, and they're going to be handling all the regulatory requirements they would be subject to in the traditional markets (regular NAV calculations, account statements, regulatory filings, etc) with the added layer of having a crypto currency. Which, once you create the token, not really much to do there. But it doesn't seem to make the rest of it any easier. I have zero knowledge of financial regulations; certainly the ERC-1404 standard was created and engineered for compliance, but I don't know enough about the regulatory landscape to understand if there's actually any value added over the traditional market vs simply allowing one to be compliant at all, which is what it appears to do. In such a case we'll see the real value adds come later, I guess?

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decibels42 6 days ago

A similar concept will be used in stablecoins issued by companies like Visa, imo. Companies like that will either bring certain protocols into their controlled wallets + not let their coins leave, or allow their coins to freely move like USDC/etc., but have “safety” limitations built into the coin to prevent use of it in certain situations or dapps. And this is when the true beauty of ETH-backed algorithmic stablecoins, or the competition amongst the various kinds of stablecoins, will become apparent.

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iambabyjesus90 6 days ago

This is fucking massive!!! How doesn’t this have 1000+ upvotes? Wake the fuuuuuck up, people!

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rocketeer8015 6 days ago

>ERC-1404 is a more restrictive derivative of the popular ERC-20 interoperability protocol. The main difference is that ERC-1404 restricts where holders can send a token to a collection of whitelisted addresses. That’s a crucial point for regulators wary of letting tokens outside their scope. This is why. It imho undermines the whole point of crypto, they basically control who can own it and whom said person can send it too. 95% of the world will be excluded from this deal.

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AESTHTK Silver 6 days ago

Correct, this is the definition of SEC approval as mentioned. A non SEC approved fund is much easier to manage, but requires a jurisdiction with sufficient grey areas and likely needs to exclude US citizens.

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mojindu464 Tin | 6 months old 6 days ago

Hopes and dreams like on cardano to remain decentralized asside bitcoin looks like ethereum a traitor hell I liked vechain more anyway

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BuyETHorDAI Redditor for 5 months. 6 days ago

Ethereum is agnostic to its uses. It's an open platform. If people want to create whitelisted addresses, then they're free to do so. If Cardano is decentralized and open, then it'll be possible there as well. That's what a general purpose programmable blockchain is meant for.

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mojindu464 Tin | 6 months old 6 days ago

k

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Midwest_Parrothead Gold | QC: SC 22 6 days ago

It'll be interesting to see the process to become whitelisted. IMO, there needs to be a reasonable balance between crypto and regulatory priorities. At the end of the day, a US treasury fund trading on the Ethereum blockchain is definitely a step in the right direction.

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rocketeer8015 6 days ago

That’s easy. The process is that it may not be useable to subvert US sanctions. That’s pretty obvious if you pay any attention to international politics.

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Midwest_Parrothead Gold | QC: SC 22 6 days ago

It could be as simple as brokers having a KYC process that whitelists your address which I would definitely participate in. We'll have to wait and see.

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rocketeer8015 6 days ago

How do you kyc a ETH address? You can kyc a person, but there is no government friendly way to prove that you control a address. Hell you could just transfer ownership by selling or leaking someone your private key.

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Midwest_Parrothead Gold | QC: SC 22 6 days ago

You could similarly open a US bank account then sell someone else your account info, login credentials, etc. KYC/AML isn't perfect.

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iambabyjesus90 6 days ago

It was meant for that option. Without it wouldn’t be approved atm. This is the beginning man. Everything has to start somewhere.

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rocketeer8015 6 days ago

That’s not a beginning, that’s the SEC having drawn a line in the sand and gotten their way 100%. Why would they ever allow a ERC-20 token after this? What leverage do we or anyone wanting that have? None of the people in Congress would allow or endorse that, they are way to worried about some people in the Middle East slipping their sanctions and strong arming. What you see here is nothing less than the defense of US soft power. They give that up when they give up the dollar being the worlds reserve currency and their status as superpower.

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iambabyjesus90 6 days ago

This is fucking massive! How does it only have 3 upvotes in two hours!! Wtf people.

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Midwest_Parrothead Gold | QC: SC 22 1 week ago

The launch marks the first time the crypto-skeptical SEC has allowed a fund represented by cryptographics tokens to enter the investment markets under the Investment Company Act of 1940. Arca has been pushing for various forms of the ArCoin proposal for nearly 20 months, as shown in regulatory filings.

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