Going offshore to escape the CFTC

I had to mention nami trade because of what it represents, it is a circumvention, or a glimpse into what the circumventions will look like. I just learned about this new project called RemVM, "What is RenVM?
RenVM serves as the engine that powers Ren.

What problem does it solve?
For many decentralized applications, in particular decentralized finance, solutions for privacy and interoperability are fundamental pieces of the puzzle that are still missing.
Trustless privacy and interoperability is absolutely necessary for achieving truly decentralized applications that are secure, usable, and liquid. Dark pools, DEXs, leverage, lending, collateralization, transferring digital assets and many other use cases are now made private, interoperable, and practical through RenVM."

Thereā€™s another important decentralized exchange being developed called Digitex.

What I am speaking of, are immutable systems not just currencies. Servers, finance infrastructure, funds, that have no center of location or jurisdiction.

I am not sure how this will play out, but as things are, I currently see wider adoption for cryptocurrency as a necessary step before we can truly benefit from the autonomous and anonymous solutions that you write about simply because we still face the big problem of having to convert back to fiat in most cases.

I am all for privacy and freedoms, however. It is both interesting and exciting to consider the potential changes that could come from the solutions that are currently being worked on. It is also good to know that others see the need for it and are willing to invest time and resources into development.

This is exactly how it works. Trades of the same pair and same lot size must be closed FIFO. Trades of the same pair and different lot sizes can be closed in any order.

KC

FIFO itself is a flawed concept; and that appears to be an equally flawed implementation of that concept.

hyperscalper

I would agree with that. Iā€™m not endorsing it. Was just trying to explain how it actually worked at oanda.

KC

Itā€™s a shame that bitmex doesnā€™t want to execute stop losses during high volatility periods. It is by far the most liquid crypto exchange. You can easily market buy 5 million contracts. Itā€™s hard to say how long it will take FATF to enforce kyc on the Seychelles. But today the dutch already proposed money laundering laws, it seems the dutch are the worst and waited one day after G20 to make my life difficult.

Youā€™re not laundering money, are you ? Just tell 'em youā€™re one of the Good Guys !

hyperscalper

Likely a quid pro quo happening behind the scenes, as per usual.

Just getā€™s worse lol. tā€™s not a good thing. Nothing to rejoice. Itā€™s the beginning of them trying to globally outlaw regular anonymous non custodial wallets. The point of crypto currency is protect people from oppressive governments not let them know what you have at all times and have funds stuck in attributed smart contract tied wallets that arenā€™t allowed to send funds to open source anonymous wallets. Itā€™s a much more dangerous technology and set of regulations than it seems.

Think about it. They will force this AML technology onto Ledger Nano and Trezor. No one will have protection from state actors anymore. Everyone will be backdoored. The governments will know everything.

I strongly urge you all to look at things like namecoin and RenVM because with the direction this is all headed in, non custodial, non jurisdictional FULLY decentralized exchanges are going to need to become a thing, that means no centralized off chain trading, no centralized server running order matching. A complete decentralized network built right into TOR.

https://bitcoinmagazine.com/articles/ciphertrace-shyft-team-id-protecting-solution-fatf-crypto-guidance?fbclid=IwAR1p755ts4L-wU_s6nqcIyx3SD9HPDweGrYmit8-ojUBCliQhEtTqTm5Qhg

"It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intends to rival US monetary currency and the dollar.

ā€œIf products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability,ā€

The fear is starting to showā€¦

Source:

Crypto Rocket I have come across too. Signed up recently as could do so without ID and it was super quick. Will be interested to see how it is.

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FIFO is a real pain in the ass. even the crypto dutch exchange implements FIFO. I canā€™t do proper calander spreads on it either since its too illiquid on the forward contracts. I did see the 10x leverage on FXChoice lol. Iā€™m so stressed I actually see it as a good thing, but I just cannot justify leaving that kind of money on FXchoice. Nor Kraken frankly. Thatā€™s why coinnexx rocks because the counter party risk is low.

I was trying to look into Bakkt and Omni and ErisX and it is just awful they are all literally implying that they are not going to offer leverage at all. And now the British are saying they are going to ban crypto CFD for retail.

It really is a shame. The dutch crypto exchange is by far, by far the best crypto derivative platform. I was looking at nami trade again, and I think itā€™s hyper illiquid, itā€™s hard to tell, but I assume so. I just cannot believe Omni LedgerX spent 5 years courting the CFTC only to offer 0 leverage (what I fear and suspect at least). They are insane.

Honestly I still have the most hope for the BBOD exchange, but those guys will likely enforce mandatory KYC when itā€™s said and done.

god crypto rocket has mt4. I hope they stay around and donā€™t exit scam, alas I hope they are smart enough to not dare mention or solicit americansā€¦Iā€™d love to hear how withdraws and spreads go if they are reputable.

While Iā€™m at it what I really wonder is has anyone heard of or tried to use the HEDGE EA bot for mt4. Itā€™s a trailing hedge bot and it kinda does all the order managment stuff. I havenā€™t tried it out but it really exemplifies my strategies. Hedge EA Advanced | Forex Trading App for MT4

I continue to have a bias in favor of mt4 because this bot exists and I can find no other like it elsewhere. (only ultra expensive complex futures bots which are really uncompelling)

Rocket also has 500x leverage gold. And I suspect gold volatility is going to be high from here on out. But the alt coins are 100x leverage which is possibly pretty ideal. Spread is like comparable to a 25 % fee, but Iā€™m use to 15% on bitmex. It can be worked around, especially on mt4 with hedging. Trading bitcoin without hedging is a form of punishment to say the least. The bitcoin volatility lately has been like nothing ive ever seen in any financial market. Itā€™s hard to articulate what 100x leverage with something dropping 25% in a day and pumping 20% in a day means. In march it was moving like 4 dollars a day and I was ready to hurl my laptop out the window.

I love the price movements that we are currently seeing with crypto. Itā€™s actually tradable on smaller time-frames, even with atrocious fees.

Has anyone used the new deposit system of echecks that LMFX has now? Iā€™m planning to use it, but I would prefer to get a little feedback from others first. Seems like a great way to deposit if safe.

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Just received an email from UPayCard saying that my account with them will be closed. I emailed them back asking why, and they said that due to an "internal policy"
all USA residents are having their accounts closed. They will have an additional ā€œ60 days,ā€ though, to use UPayCard after they first receive notice that their account is being closed.

I wonder if VLoad will be next. So the unending war between us and the unfair regulators, probably pressured by the big, super greedy US brokerages wanting all tradersā€™ money kept inside the US, continues.

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Similar thing happened with BitPay. Currently looking into crypto pay card (Crypto.com | Cryptocurrency in Every Walletā„¢), as they claim that their cards will not be affected by the same regulation. Cards for US residents should be rolling out this month.

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Fair idea but unfortunately not all traders are already great swimmers. This could significantly delay a traders path to trading as swimming lessons would need to be the priority here!

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Interested in hearing reveiws about crypto rocket and if they are legit. Could be our next coinnexx, or it could be a giant scamā€¦ waiting t osee

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That one does look awesome but seem more like a scam.I wonder how @fxbro99 and @jessoprules are doing with it. My biggest thing is, have they attempted to make any type of withdrawal with them.