3
votes
Are you considered a money transmitter if your end users sends you their private keys to send funds on their behalf?
That's not a very secure system.
You should set up a 1-of-2 multisig address with the user instead and have them send funds to that address. They're still placing a lot of trust in you but they don'...
- 31
3
votes
Pump & Dump communities. Are they legal?
Legality depends largely on jurisdiction, and you didn't specify one. In addition, the regulation of cryptocurrencies is constantly in flux, and even in a given jurisdiction it's difficult to say ...
- 8,822
2
votes
Pump & Dump communities. Are they legal?
Therefore, those who managed to buy it early and sell it in time, get profits.
Actually, they don't. For three reasons:
To execute a pump & dump, you have to keep buying even after the price has ...
- 51.4k
1
vote
Are you considered a money transmitter if your end users sends you their private keys to send funds on their behalf?
It depends. Typically as a money transmitter, you are neither the owner of the transaction nor the beneficiary. You are acting as an intermediary. Whether the funds are pushed to you, or the funds are ...
- 11
1
vote
How hard it is to destroy BitCoin system if the government leaders decide to do this?
since the government controls the physical internet
They do not (at least in North America or Europe). The internet is a network of communication. An Internet Service Provider (ISP) can be private or ...
- 1,710
1
vote
Accepted
How can a government ban trading in bitcoin since the people can trade in overseas exchange?
They can't entirely ban trading for all of their citizens worldwide, but a government can ban trading within the country itself. This means that it will be much harder for people to trade and thus ...
- 68.4k
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