Topic: Bitcoin and the false promises /I wish if we could get rid of all exchanges (Read 268 times)

we are all the same, here at my country if you wish to have bitcoin, all you have to do is use our own bitcoin wallet exchanges, and the other personal info may put on that wallet, even you have a valid id to verified that it is you, they need also a selfie with id to be verified i dont know why, but i think it is need to use the full features of that wallet, my concern is the privacy and the annonymity of the bitcoin holders in my country are revealed by this rules. but its ok to fill up and provide those things,

There have been initiatives to address the issue of buying Bitcoin without any verification, decentralized exchanges, but they aren't quite popular yet, very low volume. Almost all exchanges have KYC/AML policy. You can't really blame them, exchanges accepting Fiat have to comply with the law, they are just playing safe. And additionally there might be some platforms from where you can buy Bitcoin without verification, but not only paying a premium, but the risk of getting scammed is also high. There is simple logic, centralized exchanges do offer consumer protection to an extent and more over there is flexibility and high liquidity. As far as crypto to crypto exchange is concerned, atomic swaps would remove the second man in the middle, but for Fiat to crypto exchange, decentralized exchanges aren't yet a viable option, maybe in the recent future.

all the things you said are not about bitcoin. bitcoin gets rid of the "man in the middle" when it comes to using it not to acquire it. you are talking about purchasing bitcoin. and doing it with "fiat" and when you use fiat you will have to abide by the fiat laws.
every system has it, a set of rules. these rules like asking for full registration and giving them your documents for verification,... is because you are using fiat! more precisely you are using banks to transfer money to and from exchanges so you'll have to accept all the nonsense that comes with that.

If it were easy to be rich, everybody would be rich,

Exchange and casinos ( day-trading rackets ) were not part of the original BTC

1.) Getting 1 BTC a day mining, well TOP machine s-9 for $1500 USD net's about $5/day, less electricity you net a cool $1, thus it would take twenty years to profit 1BTC.

U might want to consider mining high value alt-coins, there are now 2,000 'shit-coin' where shit is non-BTC, BTC is valuable because its hard to get, can't have it both way's to have it worth say $7500 USD, but easy to get.

U want 'easy' then U may want to consider alt-coins, which is a different forum, U can select a GPU mine-able coin where you could get your one-a-day as you wish. Personally I like mining as their is NO record U got it, when U buy, you create record forever U spend, it goes back to that bank transfer.

Let's assume U don't want anonymity, by virtue that your willing to send complete strangers your personal data & photo over the internet.

I think someone like U it might be best to go to Singapore/Hong-Kong where you could buy ton's of BTC as you wish, easy to move around, just get some diamonds or some kind of wealth you can carry not detectable and then trade that wealth in a country of your choice, this requires traveling, just make sure the high value item has high-value where your going.

In general MOST exchanges are the weak link they are the CRIMINAL weakness of BTC, too easy for a criminal to open an exchange and then U lose your BTC's, thus its important not use exchanges, again WHY we MINE.

It's no longer possible to MINE BTC

Another thing in your case is to sell a high value item such as real estate or GOLD for BTC, there are many forums to arrange such transfers, many chinese have BTC, and would love more USA real estate, u just need to match up needs.

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Again I agree to where you are going, personally I avoid exchanges in fact I never use them ever, just my preference, as I want anonymity, and an exchange is always a honey-pot, and most are just ran by local tax authoritys.

Thus  you are right, BTC doesn't need the 'exchange' and many people don't use them.

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IMHO if U R a high balance individual I would consider TRAVEL, go live in a place where BTC is abundant bring in money on wire think MACAU spend all your money on 'Gambling', then have your private-key RFID it on a chip in your backside, then u never lose your private-key, travel as you wish, and there is never a thing for authority's to find.

U can work for BTC, code for BTC, write for BTC assuming your of working age, if our retired then sell off your assets for BTC,

If U want to keep your BTC, then never go near an exchange, that's where people lose their BTC's, second way ppl lose BTC is having weak-passwords like brain-wallets. U need to make sure your private-key is super high entropy.

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There are no false promises, the problem is the con-men make all the noise, and your listening to them.

Perhaps spend more time on your local craigslist and try to meetup with people who regularly trade in BTC, and learn to gain trust and vice-verse, CL is worldwide there are many such social sites where people who trade can meetup, public meetings find a bitcoin club near u, you'll probably meet ton's of ppl who will trade BTC in local currency.

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BTC is a way to preserve your wealth, if the economy collapses you can travel and never carry your wealth, it will always be on that chip, and nobody knows what it means, or you can tattoo 24 random words on you bottom of your foot if you don't like chips.

U read these forums and you would think that everybody is a BTC day-trader, but Your right that was never the intention of BTC.

I agree with you its in my country
but its against the CORE value of bitcoin
Any one with Internet can get bitcoin
why this issue not been addressed by bitcoin community
removing the second man in the middle the exchanges

 

This is a problem only in your country, because in many other countries you can find exchanges with very loose and nearly non-existent KYC policies, when you just send money from your bank account while paying only your bank fee (which is like 1%). In your situation you should keep looking for a good buying opportunity - check Local Bitcoins and your local Bitcoin communities for example, or look for other routes to buy it online, for example via payment systems like PayPal or Skrill. Of course it's all much riskier than going to exchange, so split your sum into chunks and choose your trades very carefully.
Sadly, Bitcoin-only economy is still very small, you can earn it mostly by freelancing and it can be extremely hard to spend on your daily needs, depending on where you are trying to do so. This is something that is expected to be solved by itself in the future when we'll reach mass adoption.

I suffered a lot just trying to purchase bitcoin
In local market people are asking 20% fee
The exchanges works mainly in US and Europe
But for the rest of the world there is nothing  
I did register in bitstamp  and more than 2 weeks to verify my account
Coin Mamma ask you to take selfy with your ID and write down the date just like criminal

The basic idea of bitcoin is to get rid of man in the middle (Banks) and make our own money
But WHY no one take the initiative to provide Bitcoin for the public without this ridiculous verification process
Here is  the sample after you sumbit your ID and all required documents
1.   What is your current occupation?
2. What is the source of the funds you will be depositing to your Bitstamp account? Please provide any financial documentation which can confirm how the funds that you will be depositing to your Bitstamp account were acquired (salary slip, savings account statement or any other relevant document).
3. What is the purpose of your trading on Bitstamp? Please describe in as much detail as possible how you intend to use your trading account.
4. Which banks do you intend to use? Please provide the complete addresses and SWIFT codes.
5. Estimated amount that you would be depositing/withdrawing to/from your Bitstamp account per year (in USD and BTC)?
6. What type of trading will you conduct? Buying/selling/both? Estimated trade volume per month?
7. What are your future plans and activities planned on our exchange?
8. Do you intend to use your Bitstamp account in connection to any business activity? If yes, how?
So we manage to remove the bank and put the exchange in the middle
I wish if we could get rid of  all exchanges  and agree on  a fair flat rate 1% or less  for BTC transaction
Mining is the second option but it is difficult to make 1 BTC from mining in a day