Topic: Bitcoin about the free world, but not for us in the Middle East! (Read 3820 times)
How many people have so many opinions that someone does not believe in investing and is afraid to burn out and someone very much even with both hands for.
March 02, 2018, 05:03:45 AM
Buy bitcoin in localbitcoins.com or in coinbase they are the trusted site when it comes to that one, and the issue in the Middle East I don't know about it, maybe it is not yet accepted it on where country you live in. If you aren't happy with that, don't buy Bitcoins, try to make profit online only by working on the internet and using, of course, decentralized online services that don't have any restriction over your country.
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OP, two points;
1) Your complaint isn't related to Bitcoin - its related to financial institutions & how they operate. It is the same like this in almost every country with financial institutions especially any bitcoin-related exchange
2) Yes! Please open up an exchange to bring down the premiums, this would be good thing. If you want to be successful at it - make it a DECENTRALIZED EXCHANGE with no central head and no point of failure and a decentralized escrow (or some escrow-like solution) process. This could be global.
Note: the closest thing notable to a decentralized exchange is LocalBitcoins which works pretty well. But I'm sure you can do better if you have enough resolve and resources.
1) Your complaint isn't related to Bitcoin - its related to financial institutions & how they operate. It is the same like this in almost every country with financial institutions especially any bitcoin-related exchange
2) Yes! Please open up an exchange to bring down the premiums, this would be good thing. If you want to be successful at it - make it a DECENTRALIZED EXCHANGE with no central head and no point of failure and a decentralized escrow (or some escrow-like solution) process. This could be global.
Note: the closest thing notable to a decentralized exchange is LocalBitcoins which works pretty well. But I'm sure you can do better if you have enough resolve and resources.
I am very sorry for your woes. I think it is a brilliant idea for you maybe to make your own exchange in the Middle East, but make sure you can operate it with or without a license and not have problems with local authorities, or it will be a big headache for you. I sincerely wish you the best of luck.
But the point is that he's not going to have any more freedom than the exchanges that already exist. He's just blowing hot air up our collective ass anyway. No one's going to use some fly by night exchange started by some disgruntled middle easterner. And if you do, you get what you deserve. Bitcoin makes money laundering very easy thats why governments are so strict on the KYC regulations the exchanges have to follow. Localbitcoins is obviously a more expensive solution but to bypass exchanges you will always have to pay a premium, thats how the world works.
That right, Localbitcoins are definitely a more expensive solution that is why the government is so strict in KYC
And have my own opinions, I do try to be somewhat constructive when post, but never quote someone just to repeat them with slight changes of
Wording, this is just so fucked up mate.
Don't worry, the future will certainly be developed.
I disagree with you. And I assume you don't know middle east governments. They all aganist bitcoin beucase they afraid of losing tax.
Bitcoin is providing a way for people to have freedom of money and take the responsibility and also the risks of managing their money.
Many are not yet ready to be their own banks, but with enough time we'll learn. middle east countries could not be more happy with Bitcoin around.
Don't worry, the future will certainly be developed.
I disagree with you. And I assume you don't know middle east governments. They all aganist bitcoin beucase they afraid of losing tax.
Bitcoin makes money laundering very easy thats why governments are so strict on the KYC regulations the exchanges have to follow. Localbitcoins is obviously a more expensive solution but to bypass exchanges you will always have to pay a premium, thats how the world works.
That right, Localbitcoins are definitely a more expensive solution that is why the government is so strict in KYC
If you could close down the gap and make things easier for the users then if you have a good business proposal then you could start an exchange but make sure you learn the legal difficulties you might be facing in the future,check with a legal expert and then plan on doing something and that is the best bet.
Its not just middle east. I was using my polish exchange and to my utter surprise I was asked to give them my photos and id scan just to get my money back. I was completly outraged. I was using that exchange few years. Im fairly certain its not the fault of the exchange, as they know they will lose customers. They are most of the time forced to do so by the banking cartel. Either that or paying a lot of fines which they can not pay staying solvent. So its not much of a choice.
Maybe there are some countries that want to limit the bitcoin users, so that only few that are a chosen are able to use it.
I do not have to mention I will never use the exchange that did that awefull blackmail to me if I will have a choice.
Maybe there are some countries that want to limit the bitcoin users, so that only few that are a chosen are able to use it.
I do not have to mention I will never use the exchange that did that awefull blackmail to me if I will have a choice.
Anti laundering laws are not made by bankers. Bankers would love to launder money without scrutiny. If you don't want your politicians to be even more bought than they already are, be glad that such rules exist.
Buy bitcoin in localbitcoins.com or in coinbase
Coin base doesn't work in middle east. Localbitcoin is ridiculously expensive.
Thanks bro.
I would think that there was enough competition there to push the markup down, or not?
Decentralized exchanges might also be an option, I recently used Bitsquare to buy Bitcoin and that went pretty smooth.
Depends on the area I guess. Where I live Localbitcoins is not the best place to use, so maybe where OP lives it is not the best place either.
Maybe try to google +btc +[your town] -localbitcoins
Buy bitcoin in localbitcoins.com or in coinbase
Coin base doesn't work in middle east. Localbitcoin is ridiculously expensive.
Thanks bro.
I would think that there was enough competition there to push the markup down, or not?
Decentralized exchanges might also be an option, I recently used Bitsquare to buy Bitcoin and that went pretty smooth.
It's not so straightforward to buy bitcoin in the Middle East. Yes, I have tried everything. If bitcoin was about the free world, why all the exchanges ask for very strict verification that even the stock exchanges don't ask for? I have never had to take a selfie with my passport in my entire 40 yrs of life until I came in to the bitcoin world, what the heck?!! All the exchanges take ages to verify and when they do, they discriminate those from the middle east. Most of them don't allow us to use fiat currency to buy bitcoin, so how the hell new comers will buy it? The barriers of entry to the bitcoin world are too many for people in middle east, am sick of it.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
Purse.io, purchase stuff for people on amazon and get paid in bitcoin. No verification needed and it's secure. The bitcoin are held in escrow so you cannot be scammed. Just set up an account for a specific amazon site and complete an order. It takes a couple of days, depending on shipping, but atleast you will be able to obtain bitcoin that way. I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
Its not just middle east. I was using my polish exchange and to my utter surprise I was asked to give them my photos and id scan just to get my money back. I was completly outraged. I was using that exchange few years. Im fairly certain its not the fault of the exchange, as they know they will lose customers. They are most of the time forced to do so by the banking cartel. Either that or paying a lot of fines which they can not pay staying solvent. So its not much of a choice.
Maybe there are some countries that want to limit the bitcoin users, so that only few that are a chosen are able to use it.
I do not have to mention I will never use the exchange that did that awefull blackmail to me if I will have a choice.
Maybe there are some countries that want to limit the bitcoin users, so that only few that are a chosen are able to use it.
I do not have to mention I will never use the exchange that did that awefull blackmail to me if I will have a choice.
As far as I know Oman is known as a peaceful country with no link to terrorism etc. (although a few citizens are radicalized, like everywhere). I liked their pavilion at Expo 2015.
Now it's a small country, and if not many people know about Bitcoin there, then the OP might be the first Omani citizen trying to get verified on some of these exchanges.
It's also possible the exchanges are simply avoiding the Middle East altogether as a way to avoid the US government targeting them.
Now it's a small country, and if not many people know about Bitcoin there, then the OP might be the first Omani citizen trying to get verified on some of these exchanges.
It's also possible the exchanges are simply avoiding the Middle East altogether as a way to avoid the US government targeting them.
I am very sorry for your woes. I think it is a brilliant idea for you maybe to make your own exchange in the Middle East, but make sure you can operate it with or without a license and not have problems with local authorities, or it will be a big headache for you. I sincerely wish you the best of luck.
But the point is that he's not going to have any more freedom than the exchanges that already exist. He's just blowing hot air up our collective ass anyway. No one's going to use some fly by night exchange started by some disgruntled middle easterner. And if you do, you get what you deserve. 
I think time will change everything when demand will get high then the authority will be forced to rethink in order to accept Bitcoin as a legal currency, so don't get worried about the middle east situation, hopefully, bitcoin will be spread ou at everywhere within 2 years. japan and South Korea already have accepted it as a legal currency, in the meantime, many countries are thinking about bitcoin seriously to allow it...
It's not so straightforward to buy bitcoin in the Middle East. Yes, I have tried everything. If bitcoin was about the free world, why all the exchanges ask for very strict verification that even the stock exchanges don't ask for? I have never had to take a selfie with my passport in my entire 40 yrs of life until I came in to the bitcoin world, what the heck?!! All the exchanges take ages to verify and when they do, they discriminate those from the middle east. Most of them don't allow us to use fiat currency to buy bitcoin, so how the hell new comers will buy it? The barriers of entry to the bitcoin world are too many for people in middle east, am sick of it.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
Proceed with your aim so that you can able to help those people who do have kind of problem but i do see that this thing isnt really a problem at all since its not necessary to upload some documents if you didnt want to and its just the same when you are applying on bank accounts which they do require document just like the same on exchanges too and you shouldnt be surprised. I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
It's not so straightforward to buy bitcoin in the Middle East. Yes, I have tried everything. If bitcoin was about the free world, why all the exchanges ask for very strict verification that even the stock exchanges don't ask for? I have never had to take a selfie with my passport in my entire 40 yrs of life until I came in to the bitcoin world, what the heck?!! All the exchanges take ages to verify and when they do, they discriminate those from the middle east. Most of them don't allow us to use fiat currency to buy bitcoin, so how the hell new comers will buy it? The barriers of entry to the bitcoin world are too many for people in middle east, am sick of it.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
I guess that this is Middle East's way of regulating Bitcoin within its jurisdiction. Since they cannot totally monitor and control Bitcoin, they formulate some rules and regulation regarding its usage. The identity verification is their way of being "secured" in a way that they can pin point the individual who stole some Bitcoin or whatever crime wherein Bitcoin was used.
These grievance of yours is nothing related to Bitcoin. Blame your government for this.
It's not so straightforward to buy bitcoin in the Middle East. Yes, I have tried everything. If bitcoin was about the free world, why all the exchanges ask for very strict verification that even the stock exchanges don't ask for? I have never had to take a selfie with my passport in my entire 40 yrs of life until I came in to the bitcoin world, what the heck?!! All the exchanges take ages to verify and when they do, they discriminate those from the middle east. Most of them don't allow us to use fiat currency to buy bitcoin, so how the hell new comers will buy it? The barriers of entry to the bitcoin world are too many for people in middle east, am sick of it.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
Your major misunderstanding is that you're assuming bitcoin exchanges is bitcoin itnself.
Sure, it is a big part of bitcoin, but it is regulated by governments because it deals with fiat. The real problem here is fiat, not bitcoin. You'd have absolutely no issues once you buy your bitcoin, and want to cash it out, but you'll have lots of verification to go through because of AML and KYC laws in your country that dictates the bitcoin exchange industry.
A simpler way to understand it is that, bitcoin is fungible, fiat is not. Therefore, they have to check whether your fiat is trustworthy or not(risk reduction of it being stolen funds), whilst bitcoin is trustless.
And no, ICO for an exchange? That's a BAD idea. In fact, i'm pretty sure that some exchanges have done this before and failed miserably, both themselves and the investors.
By the way there could be many more options of buying the bitcoin. It is not only the exchange from where you can buy the bitcoin, thought the exchange is the most trusted one but it will take you months or maybe a year to buy just one bitcoin.
I am very sorry for your woes. I think it is a brilliant idea for you maybe to make your own exchange in the Middle East, but make sure you can operate it with or without a license and not have problems with local authorities, or it will be a big headache for you. I sincerely wish you the best of luck.
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